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A growing number of businesses are going belly up in Singapore, with more companies going through compulsory liquidation in the first half of 2025, surpassing figures from the past five years.
Compulsory liquidation is a legal process where a company is forced to wind up, usually initiated by creditors through a court order, due to the company’s inability to pay its debts. Its assets will then be sold off to repay outstanding liabilities, and the business will be dissolved.
According to data from the Ministry of Law, 187 companies have undergone compulsory liquidation from January to June, marking a stark increase from 146 in the same period last year and just 95 in 2023.
Labor’s pre-election pledge to cut student and apprentice loans by 20 per cent has now passed parliament, becoming the first piece of legislation enacted by the newly re-elected Albanese government.
“We promised it and we’ve delivered,” federal Education Minister Jason Clare told reporters on Thursday morning.
“They voted for it in their millions, and we’re now repaying the trust that these young Australians have placed in us.“
The bill passed on Thursday also contains an increase in the repayment threshold, meaning a debtor can now earn up to $67,000 a year before the minimum repayment kicks in.
Mr Clare said raising the threshold makes the system “fairer”.
The pledge to cut debts was evidently popular with many voters during the 2025…
The National Oil Corporation of Kenya (NOCK) has been declared “technically insolvent” by a parliamentary watchdog committee, which has now ordered a special audit into the agency’s operations.
According to the National Assembly’s Public Investments Committee on Commercial Affairs and Energy, NOCK is unable to meet its recurrent expenditures, owes over Sh7.4 billion in debt, and is at risk of defaulting on loans from major banks.
The National Oil Corporation of Kenya (NOCK) has been declared “technically insolvent” by a parliamentary watchdog committee, which has now ordered a special audit into the agency’s operations.
According to the National Assembly’s Public Investments Committee on Commercial Affairs and Energy, NOCK is unable to meet its recurrent expenditures, owes over Sh7.4 billion in debt, and is at risk of defaulting on loans from major banks.
The National Oil Corporation of Kenya (NOCK) has been declared “technically insolvent” by a parliamentary watchdog committee, which has now ordered a special audit into the agency’s operations.
According to the National Assembly’s Public Investments Committee on Commercial Affairs and Energy, NOCK is unable to meet its recurrent expenditures, owes over Sh7.4 billion in debt, and is at risk of defaulting on loans from major banks.
Mohammed Liaqat and Rubani Ghulam were directors of a company which harassed people with nuisance cold-calls in 2020 and 2021
Posh Windows UK Ltd, based in Stoke-on-Trent, made more than 400,000 unsolicited marketing calls trying to sell home improvements within a nine-month period
Both have now been disqualified as company directors following investigations by the Insolvency Service
Two businessmen from Stoke-on-Trent who allowed their home improvements company to make hundreds of thousands of nuisance cold-calls have been banned as directors.
Mohammed Liaqat, 37, and Rubani Ghulam, 55, were directors of Posh Windows UK Ltd, which specialised in a range of products including windows, doors and…
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Cash flow problems are a key reason why companies go bust, said liquidators and analysts. This means they do not have enough money coming in to cover what they owe, even if they have assets on paper.
Businesses also dealt with rising interest rates between 2022 and 2024, with rates beginning to ease only earlier this year.
By then, however, many firms had already been hit hard by the withdrawal of COVID-19 government support at the end of 2023 as well as a weak economic year.
FOOD AND BEVERAGE SECTOR BADLY HIT
One debt collector firm, JMS Rogers, said an extreme example it handled was a food supplier that worked with major restaurants in Singapore.
“When he approached us, he gave us almost 120 debtors to go after, and the total…
Professional Australian valuers and auctioneers Hymans has revealed it will auction more than 40 prime movers and trailers from Mark’s Linehaul Pty Ltd after the operator entered liquidation.
On May 29, the operator appointed administrators, with a notice of deemed special resolution being issued on July 7 to wind up the company.
Now, Hymans has posted on its website an impending auction of 43 prime movers and trailers with the Mark’s badge on it.
Mark’s Linehaul Pty Ltd, formerly known as MFD Linehaul Pty Ltd, has been placed into voluntary administration, but MFD Linehaul is now still operating under new ownership.
MORE OWNERDRIVER TRENDING STORIES:
From August 7 to August 11, Hymans, in conjunction with Manheim, will hold…
And with a dixer on how good the Albanese government’s agenda has been this sitting fortnight, the PM calls time on question time.
That’s it friends. Only three and a bit weeks until the next go around.
Wholesale prices have risen over the quarter but they’re down on prices during election, Bowen argues
Nationals MP Sam Birrell is next up to lob yet another question to Energy Minister Chris Bowen. Unlike Leon Rebello before him, he comes armed with reference to a report this time.
“According to today’s data from the Australian Energy Regulator did wholesale and electricity prices rise or did they fall?” he asks.
