SINGAPORE (Mar 27): TT International on Monday was granted a moratorium extension restricting all creditors from taking further action against the company.

The application was granted after TT International reached an agreement with the receivers and managers of 51% subsidiary Big Box on Mar 26 on the terms and duration of the company’s continued occupation and use of the property at Jurong East which Big Box is the lessor.

TT International, which owns and operates warehouse facilities, has been undergoing a period of restructuring under a scheme of arrangement since April 2010. Trading in TT International's shares has been voluntarily suspended since Aug 4, 2017.

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