I have a question for you Zeltrax : Why would you want to wait to reach a certain weight before you'd start building your body ?
From what I experienced/learnt, while it is indeed harder mentally since it's more demanding, bodybuilding is more effective while being heavier. Also, the loose fat probably wouldn't be there (or far less) if you did both at the same time from the very beginning (unfortunately, living in Singapore surely does not help you since you can't really count on the cold in that regard). Obviously, I don't think you should wait anymore. And if you do start bodybuilding, please make sure to listen carefully to your body, and adopt a pace and types of exercises that it can follow without being stressed too much (in that regard it probably wouldn't be a bad idea, if you can, to do a full check up of your body with a doctor, to determine what part of your body are to be cherished more than others, I think).
Also, do you love a sport in particular ? Because that's still the best way to shape up I think, since it also relieves your spirit. I don't know you well, but I reckon that the way you see & enjoy your body isn't only induced by your physical appearance, but how you feel when you move as well, and how often you move it. Again, from my experience, playing a sport that you love will give you a spirit boost for the bodybuilding part too.
Swimming is extremely helpful indeed (and probably even better in a pool for what you are trying to achieve with your loose fat, since it's usually colder), as soon as you feel confident enough.
Given what you already achieved -coming from 110 kg,

impressive dear sir :takemyhatofftoyou:- and your height, I believe that if you find the keys to your enjoyment, you can reach 75 kg at the end of May. And with resolve and consistency on the bodybuilding part, you should be able to do so while greatly lowering your percentage of loose fat and growing an already pretty sturdy build, which you already started to do with your running sessions. Your friend apllied to your situation a concept about running that simply cannot be applied to your body yet I think. Maybe you can try to do more uphill jogging sessions though, or add squats to your bodybuilding sessions, if you feel the need to enhance your lower body strength.
walking is only like to start when you've never had any endurance or stamina.
-_Ô Try walking (with a few, short, running sessions within to relieve the stress on the legs and the abdominal muscles of course) for 2~6 hours straight and say that again. I dare you !

I do play football/soccer once~twice a week, but if it weren't for these 4~7 walking sessions per week, I'd probably still be around 86 kg and not 78 kg like now (1,82m btw). And stamina isn't an issue for me (average, but still able to play football for 3 hours straight without faltering). Walking is extremely useful for someone who can't run without a visible goal, or who simply don't enjoy running, or who simply enjoys walking, but it takes much time.