Corporate liquidations in Singapore surged to a record high in 2024, with 307 firms shuttered, up from 201 the previous year, according to the Ministry of Law. The rise in compulsory wind-ups, the highest since 2010, reflects economic headwinds as the city-state braces for slower growth. Singapore’s economy is projected to expand by 1% to 3% in 2025, down from 4.4% last year, as global trade uncertainties weigh on business activity. Bloomberg Economics warns that Singapore’s trade-dependent economy remains vulnerable to rising protectionism, which could dampen recovery prospects. In January alone, 38 companies were forced into liquidation, signaling continued pressure on businesses amid a challenging economic environment.