A luxury mansion once owned by disgraced former Singapore oil trader and shipowner Lim Oon Kuin has been sold just below its guide price.

Newspaper reports in Singapore on Wednesday said the property, which boasts a gross floor area of 10,000 square feet, was sold for SGD 33.39m ($25m).

The bungalow, which sits in one of Singapore’s prime residential districts, was sold through a tender exercise that closed on 30 September, which was conducted by property broker Knight Frank .