Two men were arrested in Singapore today in connection with the kidnap and subsequent release of the mother of a supermarket chain boss, following the payout of a ransom of S$2 million (US$1.6 million).

A police spokesperson said Lim Hock Chee lodged a report after receiving a S$20 million ransom demand via phone for the return of his 79-year-old mother. The victim was taken yesterday while walking along a road.

Lim, 52, is the chief executive of Sheng Siong, one of the largest supermarket chains in Singapore with more than 30 stores islandwide.

The ransom amount was bargained down to S$2 million, and the money dropped off at a park, police said. The victim was released unharmed by the suspects early today.

Police officers then tracked down the two suspects - both Singaporeans, aged 41 and 50 - and arrested them separately. The ransom was also recovered.

Deputy Prime Minister Teo Chee Hean, who is also the Minister for Home Affairs, told a press conference that “the family of the victim had done the right thing by lodging a police report immediately”.

Kidnapping cases are rare in Singapore. Police say that in the past decade, there have only been three serious cases involving a ransom. The ransom in this latest case is the largest ever known to have been paid in the city-state.

- dpa