Two Chinese men, aged 41 and 50, who kidnapped 79-year-old mother of Sheng Siong's chief executive officer Lee Hock Chee, had initially demanded a ransom of $20 million but later agreed to $2 million after negotiations.
They were arrested by the police within 12 hours from the time Lee made the report.
According to the Singapore Police Force (SPF), Lee's mother was last seen in Hougang area on the morning of Jan. 8. A call was then made to Lee demanding the sum in exchange for his mother back.