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Generous soul spotted
- Thread starter ginfreely
- Start date
SINGAPORE — He was a known miser, and Mr Loh Kum Mow was so tight-fisted that he only fixed the roof of his house when it was about to collapse, and repainted it when the authorities issued him a warning.
But the late Mr Loh turned out to be a generous soul, as his family discovered after his death in December 2016 — at the age of 89 — that the former sub-accountant had left a portion of his S$20 million wealth to charity.
Mr Loh, who died of old age, donated a total of S$3.35 million to four charities – National Kidney Foundation (NKF), Thye Hua Kwan Moral Charities, Ren Ci Hospital and Bo Tien Welfare Services Society – which received close to S$840,000 each. The organisations were informed of the bequest two to three months ago when Mr Loh's shares were fully liquidated.
The rest of his fortune was portioned out to his four nephews and nieces, who inherited 13.75 per cent each, and his three sisters received six per cent each.
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The donation sums were significant even for big name charities such as the NKF, which told TODAY that the organisation only receives such six-figure contributions once every two to three years.
NKF chief executive officer (CEO) Tim Oei thanked the late Mr Loh for his "generosity and compassion" towards the some 4,360 kidney patients his organisation serves. He said: "His legacy gift will certainly go a long way in fulfilling our mission of giving life and hope, enabling us to bring better care and integration, and provide stronger support to patients at the community level."
The money will go towards the operating costs of one of its 34 dialysis centres at Block 633 Ang Mo Kio Avenue 6.
For Bo Tien, a non-profit and voluntary welfare organisation which relies solely on public donations, the sum was unheard of. Mr Denny Chua, Bo Tien's honorary secretary, told TODAY that the money will put it in a steadier financial position to help more people as "running a charity is more like running a marathon".
"Once you commit to assist someone, you can't stop, even when you have a lack of funds."
Ren Ci will channel the funds towards its patient care and rehabilitation programme, while Thye Hua Kwan will use it to run its annual interracial, interreligious event, as well as its free clinics, among other services.
Above: Mr Charlie Loh, the nephew and executor of the late Mr Loh Kum Mow's will. Photo: Chng Shao Kai /TODAY
Giving a glimpse into the person Mr Loh was, Mr Charlie Loh, his nephew and executor of his will, said his uncle was a "self-made man" who came from a poor family of fishmongers. Little is known about his childhood and life, only that he lived apart from his family from a young age, and did translation work for the Japanese during the occupation in World War II.
Although he only had a few years of formal education in Mandarin, he earned an accountancy Cambridge certification when he was in his 30s, said Mr Charlie Loh. The 65-year-old pieced together information about his uncle after he inherited his Bukit Timah house and went through his belongings.
Mr Loh's job as a sub-accountant at Public Insurance Company (now called MS First Capital Insurance), plus his investments in the stock market, allowed him to amass a fortune that surprised his relatives.
But the late Mr Loh turned out to be a generous soul, as his family discovered after his death in December 2016 — at the age of 89 — that the former sub-accountant had left a portion of his S$20 million wealth to charity.
Mr Loh, who died of old age, donated a total of S$3.35 million to four charities – National Kidney Foundation (NKF), Thye Hua Kwan Moral Charities, Ren Ci Hospital and Bo Tien Welfare Services Society – which received close to S$840,000 each. The organisations were informed of the bequest two to three months ago when Mr Loh's shares were fully liquidated.
The rest of his fortune was portioned out to his four nephews and nieces, who inherited 13.75 per cent each, and his three sisters received six per cent each.
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The donation sums were significant even for big name charities such as the NKF, which told TODAY that the organisation only receives such six-figure contributions once every two to three years.
NKF chief executive officer (CEO) Tim Oei thanked the late Mr Loh for his "generosity and compassion" towards the some 4,360 kidney patients his organisation serves. He said: "His legacy gift will certainly go a long way in fulfilling our mission of giving life and hope, enabling us to bring better care and integration, and provide stronger support to patients at the community level."
The money will go towards the operating costs of one of its 34 dialysis centres at Block 633 Ang Mo Kio Avenue 6.
For Bo Tien, a non-profit and voluntary welfare organisation which relies solely on public donations, the sum was unheard of. Mr Denny Chua, Bo Tien's honorary secretary, told TODAY that the money will put it in a steadier financial position to help more people as "running a charity is more like running a marathon".
"Once you commit to assist someone, you can't stop, even when you have a lack of funds."
Ren Ci will channel the funds towards its patient care and rehabilitation programme, while Thye Hua Kwan will use it to run its annual interracial, interreligious event, as well as its free clinics, among other services.
Above: Mr Charlie Loh, the nephew and executor of the late Mr Loh Kum Mow's will. Photo: Chng Shao Kai /TODAY
Giving a glimpse into the person Mr Loh was, Mr Charlie Loh, his nephew and executor of his will, said his uncle was a "self-made man" who came from a poor family of fishmongers. Little is known about his childhood and life, only that he lived apart from his family from a young age, and did translation work for the Japanese during the occupation in World War II.
Although he only had a few years of formal education in Mandarin, he earned an accountancy Cambridge certification when he was in his 30s, said Mr Charlie Loh. The 65-year-old pieced together information about his uncle after he inherited his Bukit Timah house and went through his belongings.
Mr Loh's job as a sub-accountant at Public Insurance Company (now called MS First Capital Insurance), plus his investments in the stock market, allowed him to amass a fortune that surprised his relatives.
Certainly better than giving money to relatives that are filthy bastards like @AhMeng who thinks he is fucking superior with a bit of inheritance from his sinkie daddy and too much time nothing better to do and start bullying me with malicious lies non stop. His poor grandfather and slut mother from pahang never taught him what is called kindness and generous heart.
That’s why never judge people nice or not when they are poor. Judge them only when they are rich!
Dear @ginfreely, is it safe to say that you have written a will leaving most (or even all) of your net worth to certain charities?
By the way, just in case you are not aware, I actually bothered to reply to your question in another thread of yours:
sammyboy.com/posts/2743796
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She's a hypocrite... She wouldn't ... Look at her hypocrisy index!..Dear @ginfreely, is it safe to say that you have written a will leaving most (or even all) of your net worth to certain charities?
By the way, just in case you are not aware, I actually bothered to reply to your question in another thread of yours:
sammyboy.com/posts/2743796
Surprisingly he was also a translator for the Japs.
Only donate 3m? still want to take 17m to his deathbed?
He was probably just hoping to buy a stairway to heaven.trying to pay the minimum tax rate like Donald Trump and the rich and elite in sg tax Haven.
He was probably just hoping to buy a stairway to heaven.trying to pay the minimum tax rate like Donald Trump and the rich and elite in sg tax Haven.
Yeah I have a will since a long time ago for charity purpose. I am a philanthropist since young just like Buddha.Dear @ginfreely, is it safe to say that you have written a will leaving most (or even all) of your net worth to certain charities?
By the way, just in case you are not aware, I actually bothered to reply to your question in another thread of yours:
sammyboy.com/posts/2743796
Another big fat lie caught. You are ALWAYS accusing me of what you are indeed.She's a hypocrite... She wouldn't ... Look at her hypocrisy index!..
Yeah looks like translator was a legitimate job indeed.
Maybe the 17m is the bukit timah House that the nephew inherited.
“The 65-year-old pieced together information about his uncle after he inherited his Bukit Timah house and went through his belongings.“
According to:
S$3.35 / S$20 x 100% = 16.75% of his "S$20 million wealth" was willed to those four charities;
(13.75% x "four nephews and nieces") + (6% x "three sisters") = 73% was willed to those seven relatives of his;
so I suspect the market value of his "Bukit Timah house" (which might be a small terraced house) is 100% - 16.75% - 73% = 10.25% (or S$2.05 million) of his "S$20 million wealth", but I might be wrong.
Bukit Timah terrace house only two millions? I am not sure but I don’t think so. I heard from my ex boss that his semi d in D10 was 7m and that was in 2008. So now probably 15m at least.According to:
S$3.35 / S$20 x 100% = 16.75% of his "S$20 million wealth" was willed to those four charities;
(13.75% x "four nephews and nieces") + (6% x "three sisters") = 73% was willed to those seven relatives of his;
so I suspect the market value of his "Bukit Timah house" (which might be a small terraced house) is 100% - 16.75% - 73% = 10.25% (or S$2.05 million) of his "S$20 million wealth", but I might be wrong.
I can get my parents to adopt you. They have a Gallop Road landed estate to give you..Can? lol
See everyone? Always pretending to be high ses is him hahahahahaI can get my parents to adopt you. They have a Gallop Road landed estate to give you..Can? lol
Don't run away reh...Lol
There are some small terraced houses in that area, such as:
propertyguru.com.sg/listing/20199995
located along Jalan Lim Tai See (very near Sixth Avenue and Hwa Chong Institution); so if this "Mr Loh Kum Mow" is truly a "known miser", it should not be a surprise if he lived in only a small terraced house, even though he could probably afford a small bungalow, right?
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