The Business Times

Insolvency

SGSME

Nanyang Optical plans to enter into voluntary liquidation after 65 years; will close 4 of 6 stores

The eyecare chain’s remaining two stores, which are under franchise arrangements, will continue operating and are unaffected

This new programme “aims to facilitate the orderly winding up of non-viable or dormant businesses to have better recovery outcomes for viable ones”, said Ministry of Law.
Singapore

Insolvency programme for micro, small companies to be revamped with simpler criteria, streamlined processes

The new programme will become a permanent feature of the Insolvency, Restructuring and Dissolution Act 2018

Creditors allege that the Autobahn group has refused to divulge the whereabouts of cars that are meant to be repossessed.
Singapore

Court imposes freezing order on Autobahn group companies, directors amid allegations of fraud and bad faith

Car distributors contend that forged documents were used to double finance car loans; almost 300 cars meant for repossession cannot be located

The Autobahn group, which includes car-sharing service Shariot, has debts of more than S$300 million.
Singapore

Autobahn group fallout tightens private-hire car financing, but COE premiums unlikely to fall

Increased scrutiny by banks and finance companies may not have a big impact on the larger, market-moving players

The Autobahn Rent A Car office at Mountbatten on Nov 26, 2025. Affected drivers are worried about losing rental deposits ranging between S$500 and S$1,000, says NTUC's Ng Chee Meng.
Singapore

Private-hire drivers hit by Autobahn repossessions may lose rental deposits

Senior Minister of State for Transport Sun Xueling says this is because the drivers are unsecured creditors

The group comprises 18 automotive sector companies, including car sharing service Shariot.
Singapore

Autobahn Rent A Car suspends its business; gives up fight for protection from creditors

This means its creditors including DBS, OCBC, UOB can continue claims or writs of asset seizure and sale

The Autobahn Rent A Car group, which was mainly involved in private-hire car rentals and fleet management, has debts of more than S$370 million.
Singapore

Autobahn Rent A Car group appeals dismissed moratorium, reveals potential SGX listco investor

The group also files for a new six-week interim moratorium to facilitate investment negotiations

The group has liabilities amounting to S$371.5 million among 58 creditors.
Singapore

Autobahn Rent A Car and related companies’ moratorium application dismissed

The High Court ruling opens the way for creditor actions and insolvency proceedings, which may include being wound up

The group says that as at Jun 30, its total assets of around S$316.9 million outweigh its total liabilities of S$301.4 million.
Singapore

Autobahn-Shariot group reveals possible S$100 million investment, says it is solvent

Shariot could be hived off into a JV with potential investors; group plans to begin repaying debts in January as its liabilities rise

Court documents mention that the group has financed some 1,200 cars in recent years, with around S$200 million in related debt.
Singapore

Creditors of Autobahn Rent A Car, Shariot group claim S$38 million more, contrary to group’s own estimates

DBS, UOB, OCBC, Teck Wei Credit and Toyota Financial Services list liabilities higher than those listed by the group

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