Overview

TT International Limited, listed in Singapore (Company Registration Number 198403771D), has issued a significant update regarding the progress of its restructuring scheme. The announcement follows a series of previous statements concerning court-sanctioned schemes, moratorium extensions, and loan arrangements that are critical to the Group’s ongoing financial restructuring efforts.

Key Developments

• Recent Scheme Meeting: On 12 November 2025, the company convened a Scheme General Meeting to vote on the adjournment of the meeting to a date on or before 9 January 2026. This was a pivotal moment for the restructuring process, as the adjournment would allow further time for the company to secure funding and finalize details of the New Scheme.
• Voting Results:
  • The proposed adjournment was not approved by the requisite majority of eligible secured creditors (only 37.15% in value voted in favor, with 62.85% against).
  • Conversely, the adjournment was approved by the requisite majority of eligible unsecured creditors (61.23% in value voted in favor, with 38.77% against).
  • Collectively, the requisite majority (not less than 50% in value of all eligible creditors present and voting) approved the adjournment to a date on or before 9 January 2026.
• Financial Details of Voting:
  • Total value of debts represented by votes: S\$312,660,176.31
  • Secured creditors: S\$2,618,231.37 (with majority against adjournment)
  • Unsecured creditors: S\$310,041,944.93 (with majority in favor of adjournment)
• Next Steps:
  • The company is currently assessing the outcome and considering its next steps. If it is determined that the Scheme General Meeting is not adjourned by the requisite majority, further updates will be provided regarding the poll results on the amendments to the New Scheme, which is intended to be funded by a new loan from Doon Vally Finance and Leasing Limited instead of the previously contemplated Convertible Loan.
  • Stakeholders are assured that material developments will be communicated promptly.
• Trading Status:
  • Trading in TT International’s securities on SGX-ST has been voluntarily suspended since 4 August 2017. Shareholders and potential investors must pay close attention to ongoing announcements, as developments may have significant implications for share value when/if trading resumes.

Implications for Shareholders and Investors

• Restructuring Uncertainty: The split in voting results, especially the lack of support from secured creditors, highlights ongoing challenges in achieving consensus on the restructuring scheme. This uncertainty can be highly price sensitive, as it affects the company’s ability to restructure its liabilities and secure new funding.
• Potential Impact on Share Value: The outcome of the scheme meeting and the company’s next steps could materially affect shareholder value, particularly if the restructuring fails or is delayed. The possible funding by a new loan instead of the convertible loan also introduces new risks and opportunities.
• Continued Suspension: The voluntary suspension of trading means that shareholders cannot currently realize gains or losses. However, any material progress or setback in the restructuring could move the share price significantly upon resumption of trading.
• Need for Caution: Shareholders are explicitly advised to consult financial advisers before acting, given the complexity and potential price sensitivity of the developments.

Conclusion

The developments surrounding TT International Limited’s scheme meeting and restructuring process are highly relevant and potentially price sensitive for shareholders. The outcome of creditor voting, reliance on new funding sources, and uncertainty around the restructuring’s success are factors that could drive significant share price movements when trading resumes. Investors should monitor all company announcements closely and exercise caution.

Disclaimer

This article is provided for informational purposes only and does not constitute investment advice. Investors are urged to consult with qualified financial advisers before making any investment decisions related to TT International Limited. Neither the author nor this publication is responsible for any investment actions taken based on the information provided herein.

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