Mar 26, 2014

    Wee Cho Yaw's son sues over unpaid rent

    MR WEE Ee Chao, a son of Singapore's richest man Wee Cho Yaw, sued a medical devices firm for allegedly failing to pay rent on a bungalow near the city's Orchard Road shopping district.

    Aluminaid Pte owes Mr Wee and his wife $646,000 for loss of future income from the unfulfilled term of the lease and unpaid rent, according to a lawsuit filed in the Singapore High Court.

    The couple are seeking to end the lease and repossess the property, which has a monthly rent of $38,000.

    Aluminaid countersued and asked for its four-month deposit back. The house was in a dilapidated state and infected with mould, making it unsafe, the bandage maker said in court papers.

    Complaints about the 26,000 sq ft property were the tenant's own doing, the Wees said in court papers this month.

    Aluminaid's chief executive officer, who was not named in the court documents, appear to be happy living in the present conditions as he continues to stay there, the Wees said.

    Similar houses in the Chatsworth Road area have sold for at least $22 million.

    Mr Wee is the chairman of UOB-Kay Hian Holdings, the brokerage unit of United Overseas Bank. His father, Mr Wee Cho Yaw, has a net worth of $7.2 billion, according to the Bloomberg Billionaires Index.

    Mr Wee's lawyer, Mr Lim Seng Sheoh declined to comment on the dispute. Aluminaid declined to comment in an e-mailed statement.