A medical devices firm has been sued by Wee Ee-Chao, the son of one of Singapore’s wealthiest men Wee Cho Yaw, for allegedly not paying rent on a bungalow located near Orchard Road, according to media reports.
In a lawsuit filed in Singapore’s High Court, Wee and his wife claimed that Aluminaid Pte owes them $646,000 for loss of future income from the unfulfilled term of the lease as well as unpaid rent. The couple wants to end the lease and repossess the property, which yields a monthly rent of $38,000.
The bandage maker filed a counterclaim, in which it asked for the return of its four-month deposit. Aluminaid said the house was unsafe as it was mould infested and run down.
In court documents, the Wees argued that the firm’s complaints about the 26,000 sq ft house were their own doing. They said that its chief executive officer, whose name was not mentioned, seems to be happy with the property’s conditions as he continues to live there.
Notably, comparable properties within the Chatsworth Road area have been transacted for no less than $22 million.
Wee is UOB-Kay Hian Holding’s chairman while his father has a net worth of US$7.2 billion, based on the Bloomberg Billionaires Index.
Both Aluminaid and Wee’s lawyer, Lim Seng Sheoh, declined to comment on the case.
Muneerah Bee, Senior Journalist at PropertyGuru, edited this story. To contact her about this or other stories email muneerah@propertyguru.com.sg
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