Billionaire Kuok Drops Singapore Mansion Plans After Setbacks

Palm oil billionaire Kuok Khoon Hong and a developer he controls are among owners seeking to unload a vacant site in Singapore meant for luxury mansions after facing setbacks in their building plans.

The sellers are seeking more than S$350 million ($268 million) for the plot in the Caldecott Hill enclave, according to a statement Wednesday from Savills Plc, which is open to offers from interested buyers until mid-January with another broker Delasa (S) Pte.