TT International to expand retail operations as it plans path back to profitability
Published on Mar 31, 2014 2:39 PM
Singapore-listed TT International has announced plans to return the company to profitability in the next few years, after running into cashflow problems as a result of the 2008 global financial crisis.
TT, which is still under a 2010 scheme of arrangement with creditors, intends to make Big Box - its new warehouse-cum-retail mall in Jurong - the company's core revenue driver when it opens in December 2014.
TT announced the $320 million, 1.3 million sq ft project earlier this month. The project, TT's first mall here, must achieve a turnover of at least $200 million within the next five years under the Economic Development Board's warehouse retail scheme.
In addition, TT intends to expand its retail operations and its sourcing and brand management services.
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!