KTL Global unable to provide an exit offer amidst severe financial strain

The company had net liabilities of approximately $2.2m as of 6 September.

KTL Global Limited, ordered to delist from the Singapore Exchange (SGX), will not make an exit offer due to its “dire financial situation.”

“The company does not have the financial resources to make an exit offer or file for voluntary liquidation,” the company said in a bourse filing.

The company added that it only has approximately $24,000 in cash and bank balances, and net liabilities of approximately $2,212,000 as of 6 September.

The company, together with its subsidiaries (the Group), had $650 in cash and bank balances as of 30 June.

Additionally, the Group does not have ongoing operations.

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