TA Corporation Updates: Subsidiary Wound Up, Legal Dispute Settled Amicably, and Trading Remains Suspended

Key Points from the Latest Monthly Update

• No major new developments since the previous monthly update, except for those already announced in early and late October 2025.
• Dissolution of Tiong Aik Resources (S) Pte Ltd, a subsidiary, via creditors’ voluntary winding up as of 2 August 2025.
• Legal dispute involving Credence Engineering Pte. Ltd. (CEPL) settled out of court; remedial works to be performed but no material financial impact expected.
• Company’s securities remain under voluntary suspension since 17 July 2023.
• Advisory for investors and stakeholders to exercise caution and consult professional advisors regarding the Company’s shares or securities.

Details for Investors: What You Need to Know

1. No Major Corporate Developments

TA Corporation Ltd. has announced that, apart from previously disclosed matters, there have been no material developments since the last update. This suggests a period of operational stability, but also continued uncertainty with no clear catalysts for near-term change.

2. Subsidiary Dissolved: Tiong Aik Resources (S) Pte Ltd

The Company highlighted that Tiong Aik Resources (S) Pte Ltd, a wholly owned subsidiary, has been dissolved through creditors’ voluntary winding up as of 2 August 2025. This typically means the subsidiary was unable to meet its debt obligations, and while the parent company has not flagged any immediate material financial impact, such actions can sometimes signal underlying challenges within the broader group structure. Investors should monitor for any knock-on effects on the Group’s asset base or liabilities.

3. Legal Proceedings Settled Without Financial Harm

Credence Engineering Pte. Ltd. (CEPL), another Group subsidiary, was engaged in legal proceedings with a developer and the management corporation of a residential development (MCST). This matter has now been settled out of court on a “full and final basis.” As part of the settlement, CEPL will carry out remedial works for defects covered under its sub-contract, but importantly, the MCST has discontinued its claim and will not pursue further actions against CEPL. The Company has stated this settlement will not have any material impact on its financial position, providing some reassurance to shareholders that no unexpected liabilities will arise from this dispute.

4. Ongoing Suspension of Share Trading

It is crucial for investors to note that TA Corporation’s shares have been under voluntary suspension on the SGX-ST since 17 July 2023. The Company has not indicated when trading might resume. This suspension continues to limit liquidity and price discovery for existing shareholders, and may deter potential investors until more visibility returns.

5. Cautionary Note to Shareholders

The Board has advised shareholders and stakeholders to read all Company announcements carefully and exercise caution in dealing with the Company’s shares or securities. Consulting with financial professionals is strongly recommended given the current uncertainties and ongoing suspension.

Potential Price-Sensitive Issues

• Winding-up of a subsidiary could raise investor concerns about group leverage and asset quality.
• Resolution of legal proceedings removes a potential overhang, but with no financial impact expected, it is not a direct catalyst for share price movement.
• Continuation of trading suspension is a key risk factor; any change in this status would be significant for market participants.

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TA Corporation: Subsidiary Wound Up and Legal Case Settled—But Shares Remain Suspended Amid Uncertainty

Disclaimer

This article is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any securities. Investors should perform their own due diligence and consult professional advisors before making investment decisions.

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