TT International (SGX: T09)

[Shion]

Application for Moratorium
http://infopub.sgx.com/FileOpen/TTIL_Application_for_Moratorium.ashx?App=Announcement&FileID=467166

Earlier last month:
TT International gets letter of demand from subsidiary over rent arrears amounting to S$50.75 million

 

[Shion]

Application for extension of time to announce first quarter and second quarter financial statements for financial year ending 31 March 2018
http://infopub.sgx.com/FileOpen/TTI...n_of_Time.ashx?App=Announcement&FileID=467178

 

[edwinttt1978]

Once upon a time, Julia Tong personally signed a cheque to pay for $30 dividends.

I guess TT Inl is reverting to the bad, old days.

 

[edwinttt1978]

Ms Julia Tong in happier times:

http://www.straitstimes.com/business/companies-markets/back-from-the-brink-with-steely-resolve

 

[Shion]

3 years of consecutive losses

 

[Wood41]

Big Box under them ?
Unfortunately it is in the overhyped & too-many-mall area.

 

[xersion]

Big box is tti....

Sent from OPPO X9079 using GAGT

 

[FrontierX]

I'm rather surprised by their 600000 per month visitor number.

This seems grossly over accounted for.

 

[xersion]

I'm rather surprised by their 600000 per month visitor number.

This seems grossly over accounted for.

Many is passing by to Westgate or Imm... Lolx

Sent from OPPO X9079 using GAGT

 

[Amigogo]

big box can tahan till end of the year bo...

 

[Shion]

Big Box under them ?
Unfortunately it is in the overhyped & too-many-mall area.

iirc Big Box is under a subsidiary which is 51% owned by TT Intl

 

[Wood41]

Many pass through Westgate to mrt station .
Lol
That's why CMT's Westgate cuts 10% rent
for the tenants.

Many is passing by to Westgate or Imm... Lolx

Sent from OPPO X9079 using GAGT

 

[zoneware7]

this is the FT gov want to attract. Myanmar born n make $$$ in Sg.

Ms Julia Tong in happier times:

http://www.straitstimes.com/business/companies-markets/back-from-the-brink-with-steely-resolve

 

[Shion]

Big Box under receivership

Recall last time people were saying Big Box is their last major lifeline

 

[edwinttt1978]

Big Box under receivership

Recall last time people were saying Big Box is their last major lifeline

Walking into Big Box is like walking into a Malaysian mall.
Such a mall is no match for the well-run malls nearby: IMM, JCube, Westgate and Jem.

 

[Wood41]

Jurong East ‘2nd CBD’ is a myth.
There are more than enough office buildings in
real CBD .
No MNC would shift to such ulu place ( far away from Changi & away from their homes in CCR .
It is not central & esp far for those who stay in East / Northeast.

Even Westgate ( under CMT ) had to cut highest rate among its malls to avoid empty out.
Lol , Big Box !
Jurong East malls are patronized by the middle classes staying around it & occasion visitors further
away.
No truly rich & super rich would stay around that OCR district .

 

[Shion]

Walking into Big Box is like walking into a Malaysian mall.
Such a mall is no match for the well-run malls nearby: IMM, JCube, Westgate and Jem.

Same thoughts.
Yesterday during lunch time I went to Big Box. Quiet and not many people.

Jurong East ‘2nd CBD’ is a myth.
There are more than enough office buildings in
real CBD .
No MNC would shift to such ulu place ( far away from Changi & away from their homes in CCR .
It is not central & esp far for those who stay in East / Northeast.

Even Westgate ( under CMT ) had to cut highest rate among its malls to avoid empty out.
Lol , Big Box !
Jurong East malls are patronized by the middle classes staying around it & occasion visitors further
away.
No truly rich & super rich would stay around that OCR district .

How will Jurong Lake District materialize...

 

[Shion]

TT International enters term sheet to receive potential S$125m investment

TT International enters term sheet to receive potential S$125m investment

http://www.straitstimes.com/busines...m-sheet-to-receive-potential-s125m-investment

SINGAPORE - Distressed consumer electronics trader TT International Limited on Friday (Feb 2) announced that it entered into a term sheet agreement on Jan 31 with an unnamed potential investor as part of the company's financial restructuring efforts.

The proposed investment, which could be worth up to S$125 million, will be undertaken by a fund set up by the said investor, and may take the form of either or both of a loan to TT International and a subscription to new TT International shares, according to a filing to the Singapore Exchange.

If the investment takes the form of a new capital commitment, this may result in the investors receiving at least 24.5 per cent of the enlarged shareholding of the reorganised company, TT International added.

The company intends to use proceeds from the proposed investment to make statutory payments in relation to the Big Box building owned by its subsidiary, Big Box.

Funds will also be used for working capital, payment for debts owed under the scheme of arrangement from Apr 19, 2010; and other existing indebtedness and payables.

The long stop date of the term sheet is May 31, unless extended in writing by the investor and the company, TT International said.

The proposed investment is subject to among other conditions, an extension of time for the statutory payments in relation to the Big Box building, the Economic Development Board's approval for the renewal of the Warehouse Retail Scheme for the remaining 19 years and court sanctions of the restructuring exercise.

TT International was granted in September 2017 a moratorium application to restrict all creditors from taking further action against the company for the above mentioned period until Feb 11.

Its shares have been suspended since August 2017.

 

[Shion]

https://www.businesstimes.com.sg/co...x-in-jurong-east-put-up-for-sale-by-receivers

 

[Shion]

TT International proposes new scheme of arrangement for creditors

TT International proposes new scheme of arrangement for creditors

https://www.straitstimes.com/busine...poses-new-scheme-of-arrangement-for-creditors

SINGAPORE - TT International is proposing to enter a new scheme of arrangement, to include both its creditors under the existing scheme as well as other creditors, it announced in a filing late on Tuesday night (July 31).

The company has been under its existing scheme of arrangement for close to eight years. Based on its latest announced unaudited consolidated financial statements as at Dec 31, 2017, its total indebtedness was approximately $437 million, including rental due by the company to its 51-per-cent owned subsidiary Big Box.

As at Jul 27, the total indebtedness due to the existing scheme creditors is about $268.2 million, and to other creditors, $193.8 million.

The new scheme will be funded by an amount of up to $45 million, set aside from the consideration of $48 million to be received from the proposed disposal of shares in its various subsidiaries.

TT International has arranged for documents regarding the new scheme to be sent to the creditors on Tuesday.