Updated: 01/10/2014 01:47

Kidnappers of mother of Sheng Siong supermarket boss arrested

Sheng Siong supermarket CEO Lim Hock Chee

Sheng Siong supermarket CEO Lim Hock Chee

The police have arrested two Chinese Singaporeans for kidnapping the mother of Sheng Siong supermarket CEO Lim Hock Chee for ransom. 

The 79-year-old woman was taken while she was walking along the road in Hougang. 

The two kidnappers, aged 41 and 50, had demanded a ransom of $20 million, but this was later negotiated down to $2 million.

According to the police, Mr Lim lodged a report yesterday afternoon.

Close to midnight the same day, he placed a bag containing $2 million in cash at Sembawang Park and left the area. 

The kidnappers then released the victim in the vicinity of Seletar West camp in the early morning of today.

They were arrested in the vicinity of Hougang and Ang Mo Kio within 12 hours from the time the report was lodged. 

The $2 million that was paid out has also been recovered. 

The kidnappers will be charged in court tomorrow.

If convicted they face the death penalty or life imprisonment and also caning. 

In the past 10 years, there have been three confirmed cases of kidnapping for ransom, all of which were solved by the police. 

The two million dollars is the highest amount paid in ransom in a kidnapping case here.

Latest Photo Galleries on xinmsn