Stunning relevation about $500,000 GIC housing loan in Ong Seh Hong's testimony

[Avantas]

In a letter sent to the media today, Dr Ong Seh Hong wrote:

“I was an employee of GIC in 1999. I was offered by Ren Ci Hospital and Medicare Centre to be Director, Medical & Paramedical Services in January 2000.

“However to leave GIC, I had to pay S$560,000 to settle my outstanding staff housing loan. I agreed to join Ren Ci on condition that I received a loan of S$60,000, to pay off in part the amount of S$560,000 and I paid the remaining S$500,000 from bank loan.

We find Dr Ong’s explanation most unusual and disingenuous which appear to give the impression that Ren Ci was sort of “blackmailed” by his demands into giving him the loan.

It does not make any difference if Dr Ong was a PAP MP then. As a medical doctor, he should be aware that Ren Ci is a charitable organization supported solely by funds from well-wishers.

The $60,000 loan made to him for his own personal purpose would deprive needy patients of the necessary funds thereby mandating Ren Ci to raise more from the public.

Dr Ong could have borrowed the remaining $60,000 from another bank or delayed joining Ren Ci till he had the means to pay off his outstanding staff housing loan.

Read rest of article here:

http://wayangparty.com/?p=7856

 

[poore]

60k he dun have meh?????

i think we need to review MP pay.... should double it immediately

 

[commoner]

must be having bad credit reports or terrible credibility that the banks cannot give him full loan of $560,000,,,,,, KNN Doctor somemore, work in GIC and going to be Director,, $60,000 also don't have,, who believe,,,, $60mil or $6mil don't have maybe cam believe la,,,,,

BTW this guy got invited to drink Kopi with Wood Head or not, not very truthful leh,,,,

 

[shelltox]

Why are you so bother by this, it is common practise in the drafting of a employment contract.

 

[cass888]

What is so surprising? Most corporations of that size give housing loans, car loans etc to their employees. I am actually surprised OSH did not insist on Ren Ci matching his existing loan dollar for dollar since he would have been out of pocket with regard to interest etc.

In a letter sent to the media today, Dr Ong Seh Hong wrote:

“I was an employee of GIC in 1999. I was offered by Ren Ci Hospital and Medicare Centre to be Director, Medical & Paramedical Services in January 2000.

“However to leave GIC, I had to pay S$560,000 to settle my outstanding staff housing loan. I agreed to join Ren Ci on condition that I received a loan of S$60,000, to pay off in part the amount of S$560,000 and I paid the remaining S$500,000 from bank loan.

We find Dr Ong’s explanation most unusual and disingenuous which appear to give the impression that Ren Ci was sort of “blackmailed” by his demands into giving him the loan.

It does not make any difference if Dr Ong was a PAP MP then. As a medical doctor, he should be aware that Ren Ci is a charitable organization supported solely by funds from well-wishers.

The $60,000 loan made to him for his own personal purpose would deprive needy patients of the necessary funds thereby mandating Ren Ci to raise more from the public.

Dr Ong could have borrowed the remaining $60,000 from another bank or delayed joining Ren Ci till he had the means to pay off his outstanding staff housing loan.

Read rest of article here:

http://wayangparty.com/?p=7856

 

[captainxerox]

monk becoming ah long for pap! story gets more and more interesting! or how he can make monk lend him money? that is also interesting? what leverage he used?

 

[SIFU]

What is so surprising? Most corporations of that size give housing loans, car loans etc to their employees. I am actually surprised OSH did not insist on Ren Ci matching his existing loan dollar for dollar since he would have been out of pocket with regard to interest etc.

will u doggies still say the same thing if the person in questioned is say chiam see tong??

these Pappies are getting better.. they keep shooting themselves on the foot.. more n more scandals..

 

[cass888]

To be honest I will say the same thing even if it were the MONGREL who bit his masters' ands LOUDHAILER chee soon juan.

In the real world, discounted housing loans and car loans for executives are every day perks of any real corporate employer. I am sure the MONGREL who bit his masters' ands LOUDHAILER chee soon juan would have taken (or had available to him) a discounted housing loan when he was a lecturer at NUS but I would never complain about it - because it is really a fact-of-life thing - that most MNCs and GLCs have this perk, even for their entry level executives.

will u doggies still say the same thing if the person in questioned is say chiam see tong??

these Pappies are getting better.. they keep shooting themselves on the foot.. more n more scandals..

 

[alvin36]

In a letter sent to the media today, Dr Ong Seh Hong wrote:

“I was an employee of GIC in 1999. I was offered by Ren Ci Hospital and Medicare Centre to be Director, Medical & Paramedical Services in January 2000.

“However to leave GIC, I had to pay S$560,000 to settle my outstanding staff housing loan. I agreed to join Ren Ci on condition that I received a loan of S$60,000, to pay off in part the amount of S$560,000 and I paid the remaining S$500,000 from bank loan.

We find Dr Ong’s explanation most unusual and disingenuous which appear to give the impression that Ren Ci was sort of “blackmailed” by his demands into giving him the loan.

It does not make any difference if Dr Ong was a PAP MP then. As a medical doctor, he should be aware that Ren Ci is a charitable organization supported solely by funds from well-wishers.

The $60,000 loan made to him for his own personal purpose would deprive needy patients of the necessary funds thereby mandating Ren Ci to raise more from the public.

Dr Ong could have borrowed the remaining $60,000 from another bank or delayed joining Ren Ci till he had the means to pay off his outstanding staff housing loan.

Read rest of article here:

http://wayangparty.com/?p=7856

a doctor ?? a director ?? and a MP ?? he made a career decision based on $60000 loan ?? what kind of character is this ??

anyone who earns a decent 5-8k monthly salary can easily get a unsecured loan of that amount, right ??

what is going on man.... ??

 

[SIFU]

To be honest I will say the same thing even if it were the MONGREL who bit his masters' ands LOUDHAILER chee soon juan.

In the real world, discounted housing loans and car loans for executives are every day perks of any real corporate employer. I am sure the MONGREL who bit his masters' ands LOUDHAILER chee soon juan would have taken (or had available to him) a discounted housing loan when he was a lecturer at NUS but I would never complain about it - because it is really a fact-of-life thing - that most MNCs and GLCs have this perk, even for their entry level executives.

to be honest i DUN believe u..

 

[franker]

He is my MP

Fuck up MP

Never fullfil his promise during meet the people session.

Never reply email.

Act blur....

Hopeless, anyway he is just a work over MP not a elected MP...

 

[cass888]

to be honest i DUN believe u..

So you are saying that I should start complaining about the housing loan that was given (or made availble) to the MONGREL who bit your masters' hands LOUDHAILER chee soon juan? For your information, it was at least 1% lower.

Then again, you're probably a frog in the well who doesn't get offered these perks.

 

[annexa]

It's an honest mistake. Let's move on.

 

[SIFU]

So you are saying that I should start complaining about the housing loan that was given (or made availble) to the MONGREL who bit your masters' hands LOUDHAILER chee soon juan? For your information, it was at least 1% lower.

Then again, you're probably a frog in the well who doesn't get offered these perks.

frog simi??

at least i dun need to work like u, must por PAP lan par..

 

[JohnTT]

Govt must take action against this MP guy. He took $60,000 from Ren Ci as loan for his house payment, which in turn will deprive needy patients from treatment.

WHAT KIND OF MP IS THIS!!!! This MP is sick & selfish. He is worse than the Perm Sec who spend $45,000 for french cuisine.

I hope the govt will look into this matter & take action promptly. The candidates from PAP is getting worse. This is the result of having one major party system in S'pore. A strong & sizable opposition party is required to counter & balance.

 

[makapaaa]

So as expected, it's used for punting of the stock market. Btw, it's interest-free loan?!

 

[makapaaa]

With such snakes in GeeAyeSee, is there any wonder why the Peasants' blood and coffin money is being lost like nobody's biz?

 

[makapaaa]

<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR class=msghead><TD class=msgbfr1 width="1%"> </TD><TD><TABLE cellSpacing=0 cellPadding=0 border=0><TBODY><TR class=msghead><TD class=msgF noWrap align=right width="1%">From: </TD><TD class=msgFname noWrap width="68%">torch_bearer <NOBR></NOBR> </TD><TD class=msgDate noWrap align=right width="30%">7:03 pm </TD></TR><TR class=msghead><TD class=msgT noWrap align=right width="1%" height=20>To: </TD><TD class=msgTname noWrap width="68%">limtuakang <NOBR> </NOBR></TD><TD class=msgNum noWrap align=right> (3 of 52) </TD></TR></TBODY></TABLE></TD></TR><TR><TD class=msgleft width="1%" rowSpan=4> </TD><TD class=wintiny noWrap align=right>11604.3 in reply to 11604.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt>http://www.parliament.gov.sg/AboutUs/Org-MP-CV-OngSehHong.htm
<TABLE class=default-text cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR vAlign=top><TD width="18%" height=20></TD><TD width="1%" height=20></TD><TD width="81%" height=20></TD></TR></TBODY></TABLE><TABLE class=default-text cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR vAlign=top bgColor=#e1e1e1><TD width="20%" height=20>1982-1987</TD><TD width="2%" height=20> </TD><TD width="85%" height=20>M.B.B.S. (National University of Singapore)</TD></TR><TR vAlign=top><TD width="20%" height=20>1990-1994</TD><TD width="2%" height=20> </TD><TD width="85%" height=20>MRCPSYCH (Royal College of Psychiatrists (UK))</TD></TR><TR vAlign=top bgColor=#e1e1e1><TD width="20%" height=20>1998-1999</TD><TD width="2%" height=20> </TD><TD width="85%" bgColor=#e1e1e1 height=20>M Sc (App. Finance) (National University of Singapore)</TD></TR></TBODY></TABLE>

<TABLE class=default-text cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR vAlign=top><TD width="18%" height=20>1997-1999</TD><TD width="1%" height=20> </TD><TD width="81%" height=20>HR Manager and VP (Corp Services), GIC

</TD></TR></TBODY></TABLE>
What a joke, after leaving Woodbridge, he becomes a HR manager in GIC (must be hoping that he can weasel his way into the finance positions, conned into "upgrading" himself harbouring false hopes, thinking that by studying finance, he can become a fund manager in GIC, becomes disillusioned after he completes the course and faces reality, then leaves GIC.
Story of a loser who believes academic qualifications are everything.
</TD></TR><TR><TD> </TD></TR></TBODY></TABLE>

He doesn't even have HR experience! So he probably got his plumb job cos of his affiliation with the Papayas! So much for meleetocracy!

 

[cass888]

What rubbish are you talking about? Renci didn't give him the money. It lent him $60k to make up for the amount he needed to repay GIC. Renci should have lent him the full amount that GIC lent him if it wanted to poach him.

Govt must take action against this MP guy. He took $60,000 from Ren Ci as loan for his house payment, which in turn will deprive needy patients from treatment.

WHAT KIND OF MP IS THIS!!!! This MP is sick & selfish. He is worse than the Perm Sec who spend $45,000 for french cuisine.

I hope the govt will look into this matter & take action promptly. The candidates from PAP is getting worse. This is the result of having one major party system in S'pore. A strong & sizable opposition party is required to counter & balance.

 

[Eurekas]

<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR class=msghead><TD class=msgbfr1 width="1%"> </TD><TD><TABLE cellSpacing=0 cellPadding=0 border=0><TBODY><TR class=msghead><TD class=msgF noWrap align=right width="1%">From: </TD><TD class=msgFname noWrap width="68%">torch_bearer <NOBR></NOBR> </TD><TD class=msgDate noWrap align=right width="30%">7:03 pm </TD></TR><TR class=msghead><TD class=msgT noWrap align=right width="1%" height=20>To: </TD><TD class=msgTname noWrap width="68%">limtuakang <NOBR> </NOBR></TD><TD class=msgNum noWrap align=right> (3 of 52) </TD></TR></TBODY></TABLE></TD></TR><TR><TD class=msgleft width="1%" rowSpan=4> </TD><TD class=wintiny noWrap align=right>11604.3 in reply to 11604.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt>http://www.parliament.gov.sg/AboutUs/Org-MP-CV-OngSehHong.htm
<TABLE class=default-text cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR vAlign=top><TD width="18%" height=20></TD><TD width="1%" height=20></TD><TD width="81%" height=20></TD></TR></TBODY></TABLE><TABLE class=default-text cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR vAlign=top bgColor=#e1e1e1><TD width="20%" height=20>1982-1987</TD><TD width="2%" height=20> </TD><TD width="85%" height=20>M.B.B.S. (National University of Singapore)</TD></TR><TR vAlign=top><TD width="20%" height=20>1990-1994</TD><TD width="2%" height=20> </TD><TD width="85%" height=20>MRCPSYCH (Royal College of Psychiatrists (UK))</TD></TR><TR vAlign=top bgColor=#e1e1e1><TD width="20%" height=20>1998-1999</TD><TD width="2%" height=20> </TD><TD width="85%" bgColor=#e1e1e1 height=20>M Sc (App. Finance) (National University of Singapore)</TD></TR></TBODY></TABLE>

<TABLE class=default-text cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR vAlign=top><TD width="18%" height=20>1997-1999</TD><TD width="1%" height=20> </TD><TD width="81%" height=20>HR Manager and VP (Corp Services), GIC

</TD></TR></TBODY></TABLE>
What a joke, after leaving Woodbridge, he becomes a HR manager in GIC (must be hoping that he can weasel his way into the finance positions, conned into "upgrading" himself harbouring false hopes, thinking that by studying finance, he can become a fund manager in GIC, becomes disillusioned after he completes the course and faces reality, then leaves GIC.
Story of a loser who believes academic qualifications are everything.
</TD></TR><TR><TD> </TD></TR></TBODY></TABLE>

He doesn't even have HR experience! So he probably got his plumb job cos of his affiliation with the Papayas! So much for meleetocracy!

Oh This is PAP getting exposed.... He should be booted back to Woodbridge and also booted off as an MP if he want to save his face