On July 29, 2025, a fire broke out in a 10th-floor unit at Block 229 Lorong 8 Toa Payoh, spreading quickly to the unit above and sending shockwaves through the quiet residential neighborhood.

Seven people, including a child and a firefighter, were hospitalized. Dozens more were evacuated as smoke engulfed the building. 

For one family, the fire consumed nearly everything they owned — and for others, the long path to recovery is only just beginning.

So what happened? And what kind of insurance coverage applies in a situation like this?

On The Big Story, Hongbin Jeong speaks with David Sun, Crime Correspondent, The Straits Times and Chun Wei Oh, Director of Avallis Financial, to find out more. 

On July 29, 2025, a fire broke out in a 10th-floor unit at Block 229 Lorong 8 Toa Payoh, spreading quickly to the unit above and sending shockwaves through the quiet residential neighborhood. Seven people, including a child and a firefighter, were hospitalized.&nbsp;Dozens more were evacuated as smoke engulfed the building.&nbsp;
For one family, the fire consumed nearly everything they owned &mdash; and for others, the long path to recovery is only just beginning.
So what happened? And what kind of insurance coverage applies in a situation like this?
On The Big Story, Hongbin Jeong speaks with David Sun, Crime Correspondent, The Straits Times and Chun Wei Oh, Director of Avallis Financial, to find out more.&nbsp;

Your evening guide to the day's most important topics — navigate the key events in politics, business, markets, wealth management, and top investment opportunities. Keeps you informed and ahead of the curve, daily.

Money Matters is your guide to navigating the day's most important topics, from politics and current affairs to wealth management and trending issues. Every evening, the team delivers insightful discussions on business news, market movements, and the latest in alternative assets. Whether navigating the political landscape, understanding the economy, or uncovering emerging investment opportunities, Money Matters keeps you informed and ahead of the curve. Tune in daily to Hongbin Jeong and Chua Tian Tian from 4 pm to 7 pm on MONEY FM 89.3.

Money Matters is your guide to navigating the day's most important topics, from politics and current affairs to wealth management and trending issues. Every evening, the team delivers insightful discussions on business news, market movements, and the latest in alternative assets. Whether navigating the political landscape, understanding the economy, or uncovering emerging investment opportunities, Money Matters keeps you informed and ahead of the curve. Tune in daily to Hongbin Jeong and Chua Tian Tian from 4 pm to 7 pm on MONEY FM 89.3.