According to the announcement, the management of TA Construction has resolved to appoint provisional liquidators after assessing that it is “presently unable to pay its debts as and when they fall due”.
TA Corporation has requested for a voluntary suspension of trading in its shares pending stakeholder engagement and “clarity” on the company’s financial position on July 17.
In the same filing on SGX, the company’s board of directors announced that Tiong Aik Construction (TA Construction), a wholly-owned subsidiary of TA Corp, has been placed under provisional liquidation.
