How to Close Down a Company in Singapore and Liquidate Your Assets

Closing a company is never an easy decision. Whether your business is no longer profitable, you are moving on to something new, or restructuring your operations, it is important to handle the process properly — especially when it comes to selling your assets.

If you are looking to close down your company in Singapore, this guide will help you understand your options and how to recover value from your inventory, equipment, and scrap materials.

Step 1: Decide How to Close Your Company

In Singapore, there are generally two ways to close a company:

1. Striking Off

This is the simpler option if your company:

• Has no outstanding debts
• Is not involved in legal proceedings
• Has stopped business activities

You can apply to ACRA (Accounting and Corporate Regulatory Authority) to strike off your company.

2. Winding Up (Liquidation)

If your company has debts or assets to settle, you will need to go through liquidation. This can be:

• Voluntary winding up (initiated by directors/shareholders)
• Compulsory winding up (ordered by the court)

In both cases, assets will be sold to repay creditors.

Step 2: Identify What Assets You Can Sell

Before closing your business, it is important to take stock of what you own. Many companies are surprised to find they still have valuable assets that can be converted into cash.

These include:

• Scrap metal such as copper, aluminium, and stainless steel
• E-waste such as servers, computers, cables, and electronics
• Machinery and equipment
• Old inventory or unused stock
• Office furniture and fittings

Even items that seem outdated or unused may still have recycling or resale value.

Step 3: Sell or Recycle Your Assets

Instead of disposing of your items at a cost, you can work with a professional scrap and recycling company to turn your waste into value.

At Choon Sheng Hardware Trading, we help businesses in Singapore:

• Buy all types of scrap metal, especially high-value materials like copper
• Collect and recycle e-waste responsibly
• Purchase old machinery and equipment
• Clear warehouse or factory inventory
• Provide fast and hassle-free site clearance

This allows you to:

• Recover cash quickly
• Reduce disposal costs
• Clear your premises efficiently
• Stay compliant with environmental regulations

Step 4: Plan for Site Clearance

If you are vacating a factory, office, or warehouse, proper clearance is important.

We can assist with:

• On-site assessment
• Dismantling of equipment
• Bulk removal of scrap and materials
• Transport and logistics

This saves you time and avoids delays when handing over your premises.

Step 5: Work with a Reliable Partner

When closing a company, time and cash flow are critical. You need a partner who is:

• Experienced in handling business closures
• Transparent in pricing
• Fast in collection and payment
• Familiar with Singapore regulations

Choosing the right recycling and scrap buyer can make a big difference in how much value you recover.

Why Choose Choon Sheng Hardware Trading?

We have helped many businesses in Singapore liquidate their assets smoothly. Our team understands the challenges of closing down operations and works closely with you to make the process simple.

What we offer:

• Competitive prices for scrap metal and e-waste
• Quick response and collection
• Honest and straightforward service
• End-to-end support for site clearance

Get a Quote Today

If you are planning to close down your company or clear your inventory, we are here to help.

Contact Choon Sheng Hardware Trading today for a free assessment and quote. Let us help you turn your unused assets into cash quickly and efficiently.

Photo credits: Sulyok Imaging (sulyokimaging.ro)