SINGAPORE – The tycoon who made headlines in 2017 for his disagreement with the Ardmore Park condo management committee was declared bankrupt in the Hong Kong Supreme Court last week.
Dr. Sit Kwong Lam, who was listed as a billionaire by Forbes in 2017, but withdrew last year, provided a $ 30 million personal guarantee on assets that Singapore banker Brightoil Petroleum Singapore bought from Petrolimex Singapore, with basis of two invoices. billed in April last year. Petrolimex filed for bankruptcy against Dr. Sit.