Greatearth Construction wound up with at least $70m debt

Subcontractors staring at sizeable losses; over 2,900 home buyers facing long delays

Several hundred creditors are owed at least $70 million by beleaguered building firm Greatearth Construction which, together with Greatearth Corporation, was wound up yesterday afternoon because both were unable to continue doing business due to their liabilities.

The $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.

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A version of this article appeared in the print edition of The Straits Times on September 28, 2021, with the headline 'Greatearth Construction wound up with at least $70m debt'. Subscribe