TA Corporation Settles Debts Amid Subsidiary Liquidation

TA Corporation Ltd. (SG:PA3) has released an update.

TA Corporation Ltd. has announced a settlement agreement involving its subsidiaries, Sino Holdings and Tiong Aik Resources, which is undergoing creditors’ voluntary liquidation. The agreement aims to resolve outstanding debts amounting to over S$5 million through a combination of cash payments and the issuance of mandatory convertible notes. This move is expected to facilitate a smoother financial restructuring and stabilize the company’s financial position.

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