Shariot News Today: Car-Sharing Service Faces $306 Million Debt

In a significant development for Singapore’s car-sharing industry, Shariot has found itself in a financial storm. The company, alongside 17 related entities, is seeking a High Court moratorium to facilitate a court-supervised restructuring of a staggering $305.9 million debt. This debt includes amounts owed to major banks such as DBS and OCBC. The move underscores the financial instability hitting this sector, presenting unique challenges for investors and stakeholders alike.