SINGAPORE — A 32-year-old man has been arrested for allegedly breaking into a moneylender shop in Toa Payoh, before setting off a fire there and stealing more than S$60,000.

In a statement on Tuesday evening, the police said that the suspect will be charged on Wednesday (May 24) with housebreaking and theft, which carries a jail term of up to 10 years and a fine. He will also be charged with committing mischief by fire, which carries a jail term of up to seven years and a fine.

The police were alerted to a fire at the shop at about 6.30am on Monday.

"After the fire was extinguished, the staff discovered that cash amounting to S$60,535 was missing from the safe box that was located within the shop premises," the police added.

TODAY understands that the shop in this case is IP Credit, a licensed moneylender located at Block 185 Toa Payoh Central.

A 12-second clip posted on TikTok by user “Jason_loo” showed multiple burnt items placed outside the unit, which appeared to be closed and barricaded.

The police said that through extensive ground enquiries and with the aid of images from police cameras and closed-circuit television footages, officers from Tanglin Police Division established the identity of the culprit and arrested him near Victoria Street on Monday.

Cash amounting to S$16,700, in denominations of S$100, S$50, and S$10, were recovered from the man and seized as case exhibits, together with electronic devices and apparels used during the alleged offence.

The police advised all property owners to adopt the following crime prevention measures:

• Secure all doors, roller shutters, windows and other openings with good quality grilles and padlocks when leaving the premises unattended, even for a short while
• Refrain from keeping large sums of cash and valuables on the premises
• Install a burglar alarm, motion sensor lights or surveillance cameras, or both, to cover the access points into the premises. Ensure that they are tested periodically and are in good working condition