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
