SINGAPORE – Hao Mart founder Tan Kim Yong has halted the foreclosure of his good class bungalow (GCB) in Jervois Hill, in Tanglin.
The GCB, located at 17 and 19 Jervois Hill, was the centre of a lawsuit filed by Tan and his wife, Teo Siew Ling, in January 2026, against former landlord and department store operator OG and the husband of a shareholder.
The GCB was mortgaged to OG to raise funds for the food-themed mall Taste Orchard and the department store operator had appointed receivers to foreclose it. Taste Orchard had ceased operations in December 2025.
The receivers’ court application was heard on Oct 29, and Tan, through his lawyer, informed the High Court that he has obtained funding support and intends to redeem the mortgage of the property.
The Straits Times understands that Assistant Registrar Randeep Singh Koonar has stayed the foreclosure action by the receivers, allowing Tan to proceed with the issuance of the redemption notice by Nov 5 and complete the redemption by Jan 29, 2027.
A search of land title information on Oct 29 showed that the 1,402 sq m freehold GCB was mortgaged to OG in August 2023.
On Jan 16, 2026, Tan, his wife and Hao Mart filed a High Court lawsuit against OG and Adam Nicholas Emilianou, claiming that the defendants had conspired to injure them and cause loss to them by damaging the business of Hao Mart.
The claimants alleged that OG’s offering of a term loan facility to Tan in June 2023 – which was $66.2 million – was “unusual” when he was not a party to the lease between OG and Hao Mart.
This led to the claimants becoming guarantors and the couple becoming mortgagors of their jointly owned GCB in Jervois Hill.
Tan also alleged that OG learnt of OCBC’s letter of offer for a $57.5 million loan in 2025 for them to redeem the mortgage of the GCB. The claimants are seeking damages of $57.5 million from the defendants in the lawsuit.
OG objected to the redemption on Nov 15, 2025, and subsequently appointed a receiver to possess the GCB, with Tan and his wife being given up to Feb 6, 2026, to deliver the property. Tan and his wife resisted OG’s move.
This is the second court case involving OG and Hao Mart. OG is also suing Hao Mart for about $6.6 million for alleged rent arrears and other related fees, which was filed on Oct 21, 2025. The suit also alleged unauthorised subletting of the Taste Orchard premises.
“Source:[Hao Mart founder halts foreclosure of his Jervois Hill bungalow by OG] © Singapore Press Holdings Limited. Permission required for reproduction”
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