TT International suspends trading as it sorts out funding options
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Singapore
TT International Limited, the Singapore-listed consumer electronics retailer, which is being restructured under a scheme of arrangement since April 2010, on Friday requested a trading suspension of its shares with immediate effect as it sorts out its funding options amid creditors' demands.
Its 51 per cent-owned subsidiary Big Box Pte Ltd (BBPL) has received a letter from OCBC Bank with regard to the S$125 million loan facility granted in April 2013 for the construction of the Big Box building. The lenders are seeking the repayment of S$111.3 million by Aug 14, 2017.
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