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Big Box Revival News Sent TT International Shares Surging Up
TT International shares climbed 20 percent and closed at $0.178 on 14 December 2012 after the company announced a joint venture with two new partners to try to revive the stalled Big Box development in Jurong East. TT International is primarily a global trader in consumer electronics and is also known for its Akira line of electronic appliances. In a statement to the Singapore Exchange, the company said it had entered into an investment agreement with Prima Group and Utraco Investment that will see a combined commitment of $92 million from the two partners. Julia Tong, executive director at TT International said the deal showed the faith that investors had in the mega warehouse retail project. [euro]oeWhen completed, the project will transform the retail scene in Singapore[euro](TM)s western region and will also boost our efforts to help enhance value to all shareholders of TT International.[euro]? Nonetheless, the deal is conditional...