A 32,000 sq ft commercial building at 2 Jalan Kilang Barat in Bukit Merah was briefly on the market for about S$50 million – before its online sale listing vanished just three days later. The property has been drawn into an ongoing probe spanning Singapore, the United States and Cambodia, with investigators looking at alleged large-scale scam and money-laundering activities.

The building: 2 Jalan Kilang Barat in Bukit Merah

The property in question is a mid-rise commercial block in the Jalan Kilang / Bukit Merah industrial–fringe locale. It was reportedly:

• Put up for sale on 2 December 2025 at around S$50 million,
• Delisted roughly three days later, with no public reason given by the marketing parties,
• Previously sold in 2022 at a significantly lower price point, indicating a meaningful uplift in the asking valuation within a short period.

The address has also been cited in foreign enforcement documents as the registered office for a cluster of firms associated with the Cambodian network currently under scrutiny.

Who is linked to the building?

According to media and regulatory reports, several parties have come into focus:

• The building is owned by a company incorporated by Ms Chen Xiaoxuan, 25, who is said to be assisting the Singapore Police Force (SPF) in their investigations.
• Her father, Mr Tan Yew Kiat, 49, was arrested in Singapore over suspected money-laundering offences. His firm’s office in Kung Chong Road was among locations raided as part of the broader probe.
• The building’s address has been linked to multiple entities associated with Cambodian businessman Chen Zhi, who heads the Prince Group conglomerate and has been hit by US and UK sanctions for alleged roles in online scam operations and illicit financial flows.

While no criminal charges have been brought in Singapore in relation to the building itself, the associations have placed the asset under an intense spotlight.

Why did the listing disappear so quickly?

The marketing materials for 2 Jalan Kilang Barat were removed after only a few days on the market. As at the time of writing:

• No official explanation has been issued for the delisting,
• It is not publicly known whether the withdrawal was owner-driven, advised by lawyers or agents, or due to regulatory directions,
• Investigations into the wider money-laundering and scam cases remain ongoing in multiple jurisdictions.

For now, the building serves as an example of how fast-moving enforcement developments overseas can spill over into the Singapore market, affecting even fully built, income-producing commercial assets.

Implications for investors, landlords and agents

This episode holds several lessons for the market:

• Source-of-funds scrutiny: Big-ticket deals – especially those involving cross-border capital – are increasingly checked not just on price, but on ultimate ownership, fund flows and business activities behind the buyer or seller.
• Reputational risk: Even if an asset is structurally sound and well located, links to sanctions, scam networks or enforcement actions can impact liquidity, bank financing appetite and tenant sentiment.
• Agent responsibilities: Brokers and consultants marketing such assets must be alert to red flags, stay updated on sanctions/new probes, and advise clients appropriately on disclosure and risk.
• Bank perspectives: Lenders may tighten credit or impose additional conditions once an asset, owner or related entity appears in foreign enforcement filings or sanctions lists.

Reading the signals in a tightening regulatory climate

Singapore has consistently signalled a zero-tolerance stance towards money laundering and the use of local entities or properties as fronts for illicit funds. The delisting of a high-profile building linked to a sanctioned foreign tycoon sits against this backdrop of stepped-up enforcement and closer cooperation with foreign regulators.

For serious investors and landlords, this reinforces the importance of:

• Proactive Know-Your-Counterparty (KYC) checks, even in private or off-market deals,
• Independent legal and compliance advice when dealing with unfamiliar overseas parties,
• Documenting transaction rationales, valuations and financing sources with care.

As more cases emerge, we may see buyers, sellers and agents placing greater emphasis on clean capital and transparent structures, not just yield or price per square foot.