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Greatearth Construction wound up with at least $70m debt
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Marsiling Grove in Woodlands is one of the five Build-To-Order projects where Greatearth Corporation and Greatearth Construction were the main contractors.
ST PHOTO: ARIFFIN JAMAR
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SINGAPORE - Several hundred creditors are owed at least $70 million by beleaguered building firm Greatearth Construction, which together with Greatearth Corporation, was wound up on Monday afternoon (Sept 27) because they were unable to continue doing business due to their liabilities.
This $70 million debt figure does not include anticipated liabilities from the construction projects that could not be completed by Greatearth, which include two public projects, as well as five Build-To-Order (BTO) housing projects comprising a total of 2,982 units, The Straits Times understands.
