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
Add BT as a preferred sourceSingapore
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 from its operations," the company said in response to queries from the Singapore Exchange. "It thus has to raise funds of S$1 million to pay its debts and liabilities by the end of June 2019."
TRENDING NOW
Qatari LNG ship struck in Strait of Hormuz, testing US talks
DBS, OCBC and UOB shares hit all-time highs as sentiment improves
‘Baptism of fire’: Andre Khor on leading Singapore refiner Aster through an energy crisis
Singapore retains top spot as most expensive city for HNWIs, with five Apac cities in global top 10
