Investor offers S$48m convertible loan to TT International instead of assets buy

Singapore

SEYCHELLES-INCORPORATED firm Celestial Palace will be investing in TT International, as opposed to buying up certain of its assets.

The purchaser turned investor will grant the mainboard-listed company a convertible loan of S$48 million in order to provide alternative funding to help implement a new restructuring scheme, TT International said in a statement on Thursday.