A nine-story industrial building in Singapore tied to Cambodia's Prince Group was recently offloaded for S$39 million, only for the sale proceeds to be immediately impounded by Singapore police, local media reported on October 4.
Located at 2 Jalan Kilang Barat, the property was originally held by 2JKB. The address drew regulatory scrutiny after US sanctions were levied against Prince Group founder Chen Zhi and his affiliates, as multiple associated companies were registered there. The property was briefly listed for S$50 million before being pulled within three days and placed under disposal restrictions. Once cleared, it was bought by automotive firm Kah Holdings for S$39 million, with the transaction finalizing on September 16.
Liquidating the property has offered no relief. Singapore police confirmed that investigations into individuals and entities tied to Chen Zhi remain active, and the entirety of the transaction proceeds has been seized.
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