A 41-year-old businessman was shot dead early Wednesday morning in his flat in Serangoon.

When police arrived at about 7.10am at Block 223, Serangoon Avenue 4, they found the man lying face down and bleeding on the floor of the study room.

Police say a man, armed with a gun, had entered the flat at about 6.55am.

The victim's wife, teenage daughter and the maid were tied up and the house was ransacked.

A few shots were heard and the man then ran out of the flat.

A manhunt is currently ongoing for the suspect who is believed to be a Chinese man in his late 30s to 40s.

He has been described as being plump and about 1.7 metres tall, and was last seen wearing a black round necked T-shirt, black pants and black shoes.

He also had a black cap and appeared to be blind in his right eye.

Police add that he had fled the house carrying a blue denim handbag believed to contain cash and jewellery taken from the flat.

The police have advised members of the public not to approach the suspect as he may be dangerous. - CNA/ir