TT Int'l to focus more on retail operations
This is one of three pillars; it hopes to return to sustainable profitability
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TT International (TTI), known for its consumer electronics and furniture brands such as Akira, Castilla and Barang Barang, will focus more on its retail operations going forward, following a strategic review in the wake of the 2008 global financial crisis that saw the group running into cash flow problems.
The group had to slow down its previous core business of sourcing and distribution due to the longer cash conversion cycle required, executive director Julia Tong told reporters yesterday in a corporate and business update of the company.
"We were very badly affected," Ms Tong said in reference to the crisis that saw TTI entering a Scheme of Arrangement sanctioned by the High Court in 2010 to restructure its financial liabilities.
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