Once an IPO hopeful, SCI Ecommerce nears collapse

Singapore-based ecommerce enabler SCI Ecommerce, once an IPO candidate, is nearing collapse. Potential accounting irregularities have been flagged, police investigations are underway, and its cash fell 94% last year.

• SCI Ecommerce was once an IPO candidate, now faces collapse
• Potential accounting irregularities have been flagged
• Police investigations are underway into the company
• Cash reserves fell 94% over the past year