Adapted from reporting by The Straits Times (Nov 26–27, 2025).
One of Singapore’s most recognisable car-sharing platforms, Shariot, together with eight financially related companies, is exploring urgent restructuring options while asking creditors to pause debt recovery actions.
The group — tied together by shared shareholders, interlinked fleets, and overlapping financial arrangements — reportedly owes around $180 million, with Autobahn Rent A Car accounting for the bulk of the debt.
Nine Companies Seeking Creditor Standstill
A letter sent on Nov 25 by their appointed law firm, Fervent Chambers, requested creditors to temporarily hold off enforcement while the companies assess options such as:
- Court protection from creditors
- Scheme of arrangement under the Insolvency, Restructuring and Dissolution Act 2018
- Other restructuring pathways
A scheme of arrangement is a court-supervised process allowing distressed companies to renegotiate debts while continuing operations.
Autobahn: Debt, Rising Costs & Falling Rentals
Majority shareholder Roy Tan told ST the combined debt stands at $180 million, primarily tied to Autobahn Rent A Car, one of Singapore’s largest private car-leasing operators.
Key pressures include:
- Operating costs rising post-COVID
- Rental fees falling over the past 12–18 months
- Fleet expansion from 500 to 1,700 vehicles to meet demand for ride-hailing drivers
Despite the restructuring discussions, rental contracts remain unaffected, and hirers can continue using their leased vehicles.
Motor Dealers Among Creditors
Major motor distributors — including Borneo Motors Singapore (Toyota distributor) — are among the creditors owed money for vehicles purchased by Autobahn. The company did not reveal amounts but acknowledged it is “aware of the recent developments.”
At least one additional major dealer is also owed payment, ST learned.
Next Steps: Negotiations, Court Options & Investor Talks
Fervent Chambers managing director Clarence Lun, who is representing all nine companies, said next steps include:
- Presenting a preliminary restructuring plan
- Holding discussions with creditors
- Determining whether court applications are necessary
No timeline has been provided.
Mr Tan added he is in talks with potential investors regarding fresh funding but declined to disclose specifics due to NDAs.
Who Owns the Companies?
All nine businesses list:
- Roy Tan — Majority shareholder
- Sanjay Kumar Rai — Minority shareholder
Both are Singaporeans.
About Shariot
- Founded in 2020
- Started with 250 rental cars
- Expanded in 2023 to include 300 vans
- Over 300 locations across the island
The possible restructuring comes shortly after competing car-sharing firm BlueSG suspended operations in August 2025 ahead of a 2026 relaunch.
