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Collapse of Hillview, Joo Chiat projects stokes fears of more small developers going bust

Receivers for Laurel Tree, Sycamore Tree working with buyers to complete the developments

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The Business Times understands that three partners of KPMG led by Bob Yap are acting as receivers for the projects - the 70-unit freehold condominium at Laurel Tree along Hillview Terrace and the 96 residential units and 17 shops in the Sycamore Tree project in Joo Chiat.

Singapore

IN what is likely the first case of a Singapore developer going bust since the Asian Financial Crisis, the party behind two unfinished projects has been put under receivership - sparking fears that there may be other such cases.

The Business Times understands...

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