Hong Lai Huat calls off S$15.7m sale of hotel in Cambodia project

Hong Lai Huat’s S$15.7 million sale of a hotel at its D’Seaview project in Sihanoukville, Cambodia has been terminated after the buyer did not make full payment.

The mainboard-listed property developer said in a Singapore Exchange announcement that it received partial payment from the buyer as at Tuesday for the 98-room, 10-storey boutique hotel.

Hong Lai Huat sought legal advice from its Cambodian counsels and terminated the sale and purchase agreement

In full: https://www.businesstimes.com.sg/companies-markets/hong-lai-huat-calls-off-s157m-sale-of-hotel-in-cambodia-project

© 2018, All rights reserved.