TT International Receives Statutory Demand from OCBC: Key Updates for Shareholders

TT International Limited (SGX: T51), a Singapore-incorporated company, has announced it has received a significant statutory demand from Oversea-Chinese Banking Corporation Limited (OCBC). This development could have major implications for the company’s future and its shareholders.

Key Points from the Announcement

• Receipt of Statutory Demand:
  • TT International received a statutory demand for payment dated 6 November 2025 from OCBC’s solicitors.
  • The demand claims repayment of S\$294,424.81 in secured debt and S\$21,504,138.57 in unsecured debt.
  • Payment is required within 21 days from service. Failure to pay will be deemed an inability to pay debts, potentially allowing OCBC to apply for a winding-up order against the company.
• Background and Ongoing Restructuring Efforts:
  • TT International has previously undertaken a court-sanctioned debt restructuring scheme (the “New Scheme”), with key milestones in 2019, 2023, and 2024.
  • As of the most recent updates, the company had sought multiple extensions to its debt moratorium and has replaced a Convertible Loan with a New Loan from Doon Vally Finance and Leasing Limited to fund the restructuring scheme.
  • OCBC, as a creditor, is subject to the terms of the New Scheme, which prohibits creditors from taking steps to wind up the company until the scheme is terminated.
• Potential Consequences for Shareholders:
  • This statutory demand poses a significant risk. If the company does not pay or resolve the claim within the stipulated period, OCBC may initiate winding-up proceedings, which could lead to liquidation of the company.
  • The company is currently assessing the impact of the statutory demand and has promised to update stakeholders on material developments in a timely manner.
  • Trading in TT International’s securities has been voluntarily suspended since 4 August 2017.

Crucial Information for Shareholders

• Price-Sensitive Developments:
  • The statutory demand and the threat of potential winding-up proceedings are highly price-sensitive. Should the company be wound up, shareholders may receive minimal or no value for their shares.
  • The outcome of TT International’s response to the statutory demand, and any court decisions regarding the ongoing debt restructuring scheme, will be critical to the company’s survival and to shareholder value.
• Investor Caution Advised:
  • The company reiterates that trading of its securities remains suspended. Shareholders and potential investors are strongly encouraged to exercise caution and seek professional advice before making any decisions related to the company’s securities.

Summary of Recent Corporate Actions

• Multiple court applications have been made to extend moratoria and amend the restructuring scheme to accommodate new funding arrangements.
• The New Loan from Doon Vally Finance and Leasing Limited replaced a previous Convertible Loan as the primary funding source for the scheme.
• Despite these efforts, the substantial statutory demand from OCBC underscores the company’s ongoing financial distress.

Conclusion

The receipt of a statutory demand from a major creditor, OCBC, for over S\$21 million in unsecured debt and nearly S\$300,000 in secured debt, marks a critical moment for TT International. With the possibility of winding-up proceedings looming, and trading in shares already suspended, shareholders should be aware that the company’s future is highly uncertain and substantial value may be at risk depending on the company’s ability to resolve this demand and continue with its restructuring.

Disclaimer

This article is for informational purposes only and does not constitute investment advice. Investors should consult their own financial, legal, or other advisors before making any investment decisions. The situation remains fluid, and further developments may materially impact TT International’s prospects and shareholder value.

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