Authorities seize $39 million from sale of building linked to scam probe
Building linked to Cambodia’s Prince Group has been taken over by a local automotive firm in a private deal
A 32,000 sq ft commercial building linked to Cambodia's Prince Group has been seized by authorities in Singapore following a private sale for S$39 million. The building, located at 2 Jalan Kilang Barat in Bukit Merah, was purchased by Jackspeed Holdings, an automotive firm, in September after being put up for sale in December 2025.
The property's 99-year lease has at least 36 years remaining. The seizure comes as part of ongoing investigations into entities and individuals connected to Chen Zhi, the chairman of the Prince Group. Police have stated that the seizure is part of an ongoing investigation, and they are unable to provide further details at this time.
The Prince Group chairman, Chen Zhi, was arrested in Phnom Penh and is currently awaiting further proceedings in Beijing.
Written by urgent.news from The Business Times - Singapore's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
