THE TEMASEK TIMES

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City Harvest Church raises stake in Suntec Singapore to 39.2 percent

Posted by temasektimes on July 22, 2012

Singapore’s mega-church City Harvest Church (CHC) has raised its stake in Suntec Singapore International Convention and Exhibition Centre to 39.2 per cent.

The controversial church has come under intense public scrutiny of late following the arrests and charging of five of its members for misusing up to S$5 million dollars of the church funds, including its founder Kong Hee.

During a service yesterday, Executive pastor Aries Zulkarnain made the announcement to the congregation. CHC has initially acquired 20 percent of Suntec through its wholly-owned subsidiary, Urban Property Investments Limited in 2010.

Last year, it acquired an additional 19.2 per cent for a purchase price of S$54 million.

Together with the acquisition in 2010, the church now has an effective shareholding of 39.2 per cent in Suntec for an aggregate purchase price of S$97.75 million.

Kong Hee and four other CHC members will return to court on 25 July in a hugely-awaited trial.

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19 Responses to “City Harvest Church raises stake in Suntec Singapore to 39.2 percent”

  1. Naivety said

    Wow, CHC is so rich after makan so much ‘duit’ from ordinary native Singaporeans ka?!

  2. Observer said

    Happy for those in CHC, here’s their chance to give until their heart bleed, give until tears roll down their cheek. Dumb suckers. Maybe I should be a pastor, sinkaporean very easy to cheat.

  3. VILE PPL OF THE WORLD UNITE said

    And the congregation has no share to it. Why dun they start a kitchen for the hungry or build some shelter instead of increasing their stake in the property?

  4. Lim said

    PAP has got its 60% and so it seems CHC also has its 60% die-hard supporters. Soon they will buy over everything and be even more powerful – then they will be a grave threat politically because they are answerable only to their own God and divine laws – not your mortal laws

  5. NaBey said

    Look at the positive side. We have lesser icons that we are proud to tell other its from singapore. Tiger beer going to sell away to ang mor already. Historical building tear down for condo. Now we left with that half fish lion thingy. At least CHC can become next unique cultural icon.

  6. Anthony Tang said

    Quote from a good for nothing empty tin
    “Er Er I don’t know what to say”, Unquote

  7. CHC has a great management team.Their honor for God and on charitable deeds for Singapore and the world are plenteous,their postive works absolutely undeniable and who can gain-say?Lawrence Khong himself did so much Charity here,for the Church and through the Touch Ministries,and he bore witness positively for Kong Hee.I have not heard or seen one reputable leaders in our honorable Christian community despised or judge him as being false,greedy or accuse him of being a false teacher.In fact,everyone which is of the true Faith in Christ,actually honors and love him!

    Shall we rely information from obnoxious and nasty liars,or trust the truthful and honorable ones,whose integrity had been established?He that hate his brother abide in death,and is a murderer who hate his fellow brethren,thus saith the Apostle John,the beloved.Beloved John stand with him.

    • spade is a spade said

      Too presumptuous Franky Lee, plenty of christian like me still see spade as a spade. The facts are out. Konh Hee was released on bailed. If he is convicted later than he become a criminal. Simple

      • It is very puzzling that great and reputable Christian leaders believe his innocence,so do his members.Is the case clear-cut,smoking-gun?Since many close to him trust him,I see no reason why we shouldn’t.

    • Esj said

      He may appear like an Apostle of Christ to everyone on the surface, doesn’t mean he thinks and acts like one in his own private life.

      • dred said

        not even close….to be an apostle..they have to have seen Jesus,
        receive a gospel that no one else has taught,
        have a ministry of signs wonders and miracles done with great perseverance, and they walk like men condemned to die in the arena, coming last in the procession….preacher..yes, pastor..perhaps..apostle …definitely no.

    • Lowkey said

      If you don’t walk near the fire, you won’t get burnt.

    • MaDHatter said

      You don’t see Jesus disciples get entangled with corruption, and being accused of loving money more than truth.

  8. kaypoh said

    If CHC & MIW combine they can suck Spore dry!

  9. Is there an error,like on words use,such as “”misuse,siphon””…?I mean the S$ 5 m or 50 m?Is Temasek Times making an error on 5m,or it should be 50 m?

  10. hidden agenda said

    The timing to raise its stake is questionable.
    May be they are trying to tell the law enforcement people – “dun play play with us, we have lots of $$$”?

  11. mosestan said

    The more money you can collect in the kitty; the more you can makan.

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