SINGAPORE – The Sentosa Cove plot previously owned by Cambodian national Su Baolin, who was arrested with nine other foreigners in– which is owed over $20 million in loans by Su – at an opening price of $26.5 million, or $1,355 per sq foot .
An earlier ST report said Su, who is originally from China, owed the bank about $19.7 million in housing loan and credit card debts. With interest incurred until full payment is made, his debt has exceeded $20 million as at April 15. It was earlier reported that police seized about $99 million worth of assets in properties, cash, bank accounts and cryptocurrencies in the names of Su and his wife.
“The couple who came again for the second auction is probably trying to assess if there are other interested bidders for the plot, and may want to go into negotiations with the bank privately,” he said.
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