TT International

TT International: (The Edge) Sources note that Lucrum’s exit was due to a question of exit, with SG Govt’s approval for the TT international deal coming with a number of conditions that would have made an eventual exit onerous, which resulted in a last min pullout by the fund. Property watchers note that SG govt might not have been prepared to tolerate an investor coming in with a short-term view, and that co’s in the Big Box project were expected to contribute to the economy. HSR international recommend that TT international should not give up as there are probably as many more potential investors that it hasn’t tried to tap yet, but that grp should focus on suitors who undertand the business and who can help it with its branding. Sources note that TT international is already in discusussions with the Jurong Town Corporation and EBD in the hope of getting a time extension to find another partner, and that while the SG govt could give the grp more time to source for a financier, grp is running against a tight govt timeline.