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In memory of the Old Man - "a small development" called Nassim Jade

GoldenDragon

Alfrescian (Inf)
Asset
i am not lawyer..but from my understanding of the wording...it simply means lao lee received discount and lao lee must provide certain reward to ah Seng for the discount received in order to be charged for corruption...so did lao lee give Ah seng good lobang prior or after the discount ? as for the word gratification- i am not sure if the discount can be considered as such..we need a
lawyer...

section 8 of the pca is worth reading - presumption of corruption in certain cases. nothing esoteric about the pca. sec 4 level english more than enough. i speak from experience having scored C6 in the early 70s.
 

NanoSpeed

Alfrescian
Loyal
section 8 of the pca is worth reading - presumption of corruption in certain cases. nothing esoteric about the pca. sec 4 level english more than enough. i speak from experience having scored C6 in the early 70s.

8. Where in any proceedings against a person for an offence under section 5 or 6, it is proved that any gratification has been paid or given to or received by a person in the employment of the Government or any department thereof or of a public body by or from a person or agent of a person who has or seeks to have any dealing with the Government or any department thereof or any public body, that gratification shall be deemed to have been paid or given and received corruptly as an inducement or reward as hereinbefore mentioned unless the contrary is proved.

As for what amounts to gratification:

“gratification” includes —

(a)
money or any gift, loan, fee, reward, commission, valuable security or other property or interest in property of any description, whether movable or immovable;
(b)
any office, employment or contract;
(c)
any payment, release, discharge or liquidation of any loan, obligation or other liability whatsoever, whether in whole or in part;
(d)
any other service, favour or advantage of any description whatsoever, including protection from any penalty or disability incurred or apprehended or from any action or proceedings of a disciplinary or penal nature, whether or not already instituted, and including the exercise or the forbearance from the exercise of any right or any official power or duty; and
(e)
any offer, undertaking or promise of any gratification within the meaning of paragraphs (a), (b), (c) and (d);
 

zeddy

Alfrescian (Inf)
Asset
The term LEEgalised corruption sounds very familiar isn't? With all the wealth of this land under the control of the Lee Dynasty, its baffling that Lee Wei Ling didnt go for plastic surgery to beautify herself...
 

Papsmearer

Alfrescian (InfP) - Comp
Generous Asset
where did the anti corruption law explicitly say that..please enlighten...just treat me like i am an idiot..:p

Read Nanospeed and GD post on the relevant sections of the PCA. If u still don't get it, then I will treat you like an idiot as per your request.
 

scroobal

Alfrescian
Loyal
There are a number of factors that would be familiar to any public servant of standing or corporate executive of a listed firm in the realm of poor conduct that would typically attract a dismissal. Receiving gifts, services, etc. MAS would have not told the PM and the PM would not have disclosed to the public that an inquiry would be initiated if these dealing were not questionable..

Besides Sec 8 that have been highlighted by others, even without Sec 8, anyone of standing in public service or in the listed corporate world are not allowed to receive gifts and services for free and that includes receiving discounts and paying underpriced items of substantial value. Where due to cultural or business practices of certain countries where declining such offers is an insult, these must be declared in the first instance and usually required to be handed over if above a certain value.

Dismissals of public servants or corporate figures takes place every year for receiving free holidays, free hotel stays, heavily discounted cars and houses. For some reason free holidays usually are the ones. Gone are the days where cash is given.

In the old man's case, these are the concerns;
- his brother is director of HPL and opportunity to buy made to members of his family and close associates of the fmailybut not open to shareholders
- he and son received higher discounts than others and above the usual market practice of %5 in a soft launch in a rising market.

People will continue to cast aspersions on this affair because it did not go thru the expected route for an appropriate level of investigation that others in a similar situation would have to face i.e. CPIB.

It should also be noted that properties in that development flipped within 6 weeks of option given with at least one case making close to a million dollars. The caveats which are publicly available shows this. By the time this case came to light, they had gone past the $1m dollar mark. So both son and father were in the money after they donated their discounts to charity. And no, this is not considered good investment on their part - they were given access to investment opportunities that was not made to others. In the private sector this may be kosher but not to someone in public office. And each day I am sure someone in the Public Sector will be turning down such offers and good for them and the country.

The Stock exchange also revealed that HPL were not cooperating, quite damming. They also eventually censured HPL for this matter.





i am not lawyer..but from my understanding of the wording...it simply means lao lee received discount and lao lee must provide certain reward to ah Seng for the discount received in order to be charged for corruption...so did lao lee give Ah seng good lobang prior or after the discount ? as for the word gratification- i am not sure if the discount can be considered as such..we need a lawyer...
 
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longdongsilver

Alfrescian
Loyal
Read Nanospeed and GD post on the relevant sections of the PCA. If u still don't get it, then I will treat you like an idiot as per your request.

from what i understand from your posting as well as that of Kim Leng, being a civil servant in singapore is a very dangerous job,no wonder they are paid such a high income, they can be framed easily by anyone slipping them a discount on their purchases. Let me paint you a scenario...so say one day lao lee gets up from his grave coz singapore has been plagued by many problem, people died servicing MRT, MP tou ciak...etc..
and after getting up from the grave, he goes straight to the coffee shop run by Ah Sengs brother , Ah beng and Ah Beng seeing the beloved Ah Gong rising from the grave like Jesus on the easter day decided to give lao lee 50% discount of his favorite teh si...as lao lee, a filthy rich man,especially now covered in m&d, has never paid for his own food and drinks since eons ago and has no idea and does not care how much a kopi or teh costs..happily pays Ah huat using $1000 hell notes...and Ah Huat who has anticipated the coming of lao lee(as he has had dreams) returns lao lee with correct change using hell notes as well, but giving lao lee 50% discount.

and then lao lee goes back and just about to lay down in the coffin, he hears a knock..above him , Ox head and Horse face appear telling him he is under arrest for corruption...

so Papsmear and Kim leng are you telling me lao lee has commited a crime??
 

Ambulance

Alfrescian
Loyal
so Papsmear and Kim leng are you telling me lao lee has commited a crime??

halo nasi padang jin ho jiak si boh

NasiPadang_1.jpg
 

mojito

Alfrescian
Loyal
from what i understand from your posting as well as that of Kim Leng, being a civil servant in singapore is a very dangerous job,no wonder they are paid such a high income, they can be framed easily by anyone slipping them a discount on their purchases. Let me paint you a scenario...so say one day lao lee gets up from his grave coz singapore has been plagued by many problem, people died servicing MRT, MP tou ciak...etc..
and after getting up from the grave, he goes straight to the coffee shop run by Ah Sengs brother , Ah beng and Ah Beng seeing the beloved Ah Gong rising from the grave like Jesus on the easter day decided to give lao lee 50% discount of his favorite teh si...as lao lee, a filthy rich man,especially now covered in m&d, has never paid for his own food and drinks since eons ago and has no idea and does not care how much a kopi or teh costs..happily pays Ah huat using $1000 hell notes...and Ah Huat who has anticipated the coming of lao lee(as he has had dreams) returns lao lee with correct change using hell notes as well, but giving lao lee 50% discount.

and then lao lee goes back and just about to lay down in the coffin, he hears a knock..above him , Ox head and Horse face appear telling him he is under arrest for corruption...

so Papsmear and Kim leng are you telling me lao lee has commited a crime??

Of course. That is what i have been saying all along. If you need to be convicted, you can always be convicted. That is why you should never displease important people who want to see you terminated. Obviously to investigate or not, to charge or not, this cannot be left to any but the most loyal servants. That is why dogs that do not bite their masters continue to be fed well. Now get off the couch so i can get the servants to clean off the fur.
 

kukubird59

Alfrescian
Loyal
hahaha....there was a self claimed retired senior police officer enjoying pension...i.e. every month collecting money from gahmen and CBL....
he had also claimed many times that many people were queuing to entertain him (food/drinks/holes) and he wished he had more than 1 mouth ...typical greedy civil serpent.....
now he changed tune and thumped his chest like a righteous brother blah, blah about vices and corruption....as if he is the only non corrupt senior serpent around.....
yes we believe in fairy tales...especially if told by canon fairies....lol.
 

GoldenDragon

Alfrescian (Inf)
Asset
hahaha....there was a self claimed retired senior police officer enjoying pension...i.e. every month collecting money from gahmen and CBL....
he had also claimed many times that many people were queuing to entertain him (food/drinks/holes) and he wished he had more than 1 mouth ...typical greedy civil serpent.....
now he changed tune and thumped his chest like a righteous brother blah, blah about vices and corruption....as if he is the only non corrupt senior serpent around.....
yes we believe in fairy tales...especially if told by canon fairies....lol.

Hey, that sounds like yours truly! Terrific post!
 

Boliao

Alfrescian
Loyal
and after getting up from the grave, he goes straight to the coffee shop run by Ah Sengs brother , Ah beng and Ah Beng seeing the beloved Ah Gong rising from the grave like Jesus on the easter day decided to give lao lee 50% discount of his favorite teh si...as lao lee, a filthy rich man,especially now covered in m&d, has never paid for his own food and drinks since eons ago and has no idea and does not care how much a kopi or teh costs..happily pays Ah huat using $1000 hell notes...and Ah Huat who has anticipated the coming of lao lee(as he has had dreams) returns lao lee with correct change using hell notes as well, but giving lao lee 50% discount.

and then lao lee goes back and just about to lay down in the coffin, he hears a knock..above him , Ox head and Horse face appear telling him he is under arrest for corruption...

so Papsmear and Kim leng are you telling me lao lee has commited a crime??

It'll only be corruption if the coffee shop owner is seeking or has dealing with the government.
 

shiokalingam

Alfrescian
Loyal
No idea bro. All the private family vehicles serve an important purpose of privacy and basically operate similar to nominee accounts. They also do not need capital so do not have to go to open market and having to show their hand. The children of Lee Kong Chian dropped out of public eye and run their own private investment vehicles. I do recall their main vehicle was called a malay name - forget what it was.

Old man's second son is basically the CEO of the family investment vehicle having taken over his mother's affair while she was alive.

Interestingly like Lee Hee Seng of OCBC who also helmed GIC, son became Chair of F&N / APB but the prize was the property arm. He had the catbird seat of not only Singapore and the region but also the World thru F&N property investing in serviced apartments all over the world. With this comes valuable property and real estate data and inside information. I am sure some parts of the day it will be dong the corporate role and the other part will be using the same info to invest for the family fund.

It was no surprise that under him, they broke up one of Singapore 's blue chip company and its famous brands. 2 years after he took over, the sister-in-law sold temasek's holdings in the company to the Japanese, and the rest went to the Dutch and Thai. Only the property arm remains.

To the Singaporean, there is now very little to show and be proud of. Tiger for instance is even brewed in the UK.

sir , but but the big questions is -

Why so keen on these 2 condo projects : Nassim Jade & Scotts 88 ???


in any year there are 10s of projects to chose from ???
 

Papsmearer

Alfrescian (InfP) - Comp
Generous Asset
sir , but but the big questions is -

Why so keen on these 2 condo projects : Nassim Jade & Scotts 88 ???


in any year there are 10s of projects to chose from ???

These are the only 2 that made the public eye. And that was because the shareholders of the development company HPL went to complain. after all, they would also like such discounts and felt that as shareholders they should be getting it instead of some politicians and their families. Also, the developer and shareholders were alarmed when the Lee and Kwa family started "piling on". They only offered the discount originally to Gecko, but she brought in so many other family members. Developer cannot make her lose face so lan lan got to give the discounts to her friends and family too. All that is eating into their profit margin.

The Lees/Kwas buy property every year, but the other companies don't open their mouths and admit it. You can be assured that the Lee/Kwa Family and the PAP elites are collectively the largest private property owners in Singapore. Before they announced the MRT line extension to Marina Bay, no one wanted to buy the condos that were being build in that area. I hate many PAP elites were the main buyers for as cheap as $700/sq ft. Once they announced the MRT will run there, the prices shot up $1500 per sq ft or more. This is actually insider info, You think there is no corruption in singapore?
 
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