You are here

Transcorp just days away from going-concern troubles

Company must raise S$1m to pay debts and liabilities by end-June; it is struggling to recover S$8.6m in deposits


TRANSCORP Holdings, which sells cars but not enough of them to turn a profit, said on Tuesday night that it will face going-concern issues unless it can raise S$1 million to pay its debts and liabilities by the end of June.

"The group is not generating sufficient cashflow...