Singaporean billionaire Lim Chap Huat sues Brookfield Asset Management for allegedly usurping $418M property deal
Billionaire Lim Chap Huat of Singaporean property firm Soilbuild Group is suing Brookfield Asset Management, accusing it of usurping a S$535.3 million (US$418.6 million) deal it had proposed as a joint venture.
Singaporean billionaire Lim Chap Huat has filed a lawsuit against Brookfield Asset Management for allegedly usurping a $418 million property deal. The lawsuit, filed with Singapore's High Court, seeks unspecified damages over alleged breaches of contract and confidentiality surrounding Brookfield's May 2025 acquisition of three industrial properties in Singapore from Mapletree Industrial Trust for the specified amount.
The claimants in the lawsuit include Lim Chap Huat, his son Lim Han Qin, and a subsidiary of Soilbuild, while Brookfield, its Singapore unit, and a Brookfield-controlled entity are named as defendants. Brookfield had reportedly sought to partner with Soilbuild on the acquisition as a joint venture, but allegedly proceeded with the transaction without their consent just days before Mapletree announced the deal.
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