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Bankrupt trader's bungalow finds buyer

Vehicle held by developer Chiu Teng pays S$15.1m, below original asking price of S$16m

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Published Fri, Dec 9, 2016 · 09:50 PM

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    Singapore

    THE freehold bungalow at 85 Branksome Road, vacated by the bankrupted managing director of spice and nut trader Pars Ram Brothers and his family, has found a buyer.

    According to caveats obtained by The Business Times, the property was sold to a special purpose vehicle (SPV) called Branksome Realty 1 Pte Ltd for S$15.08 million. This was below the opening price of S$16 million at its first auction, where it had failed to land a successful bid.

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