The Business Times
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Troubled platform UCars founded by group of dealers wound up on S$4 million debt

Winding up application filed on Feb 23 after previous legal tussles between company and its main shareholder

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Derryn Wong

Derryn Wong

Published Fri, May 15, 2026 · 12:00 PM
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    • Singapore automotive portal UCars shuttered its office at 81 Ayer Rajah Crescent in late 2024.
    • Singapore automotive portal UCars shuttered its office at 81 Ayer Rajah Crescent in late 2024. PHOTO: FORMER UCARS STAFF

    [SINGAPORE] Troubled local car portal UCars has been wound up, more than a year after it was revealed to be S$4 million in debt and owe salaries to former employees.

    A letter sent to creditors on Monday and seen by The Business Times indicates the company was wound up pursuant to a court order dated Mar 20, with the reason being cash flow problems.

    The letter, from appointed liquidator Seah Chee Wei of Rock Stevenson, further states that a creditor meeting via Zoom was fixed for May 8, 2026.

    LiquidationDisputesAutomotiveCars

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