SINGAPORE – It cost $1.5 million to set up but Cicada, a trendy 4,000 square foot restaurant-cum-live music lounge that is linked to troubled businessman Ng Yu Zhi, is now being wound up after banks started shutting accounts linked to him.
Two other food and beverage businesses – Japanese omakase restaurant Nishikane and sake “japas” bar Sake Labo – where Ng is a major shareholder, have also been put up for sale.
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