If just 5 parties apply to buy 38 super high-end apartments through 2 property agents, does it take a genius to figure out that it's a transaction that needs to be closely appraised before vetting?
Double Conspiracies ???
If just 5 parties apply to buy 38 super high-end apartments through 2 property agents, does it take a genius to figure out that it's a transaction that needs to be closely appraised before vetting?
Lippo is own and run by crooks....the riadys....enough said.
Recently in the news similar scam kena by Ocbc....
Wonder how many more yet undiscovered.....
Scams like these can get away when market is good and prices keep going up.....suspect the bank's turned a blind eye even
George Yeo was a employee of LIPPO after he lost in Aljunied GRC?
if just 5 parties apply to buy 38 super high-end apartments through 2 property agents, does it take a genius to figure out that it's a transaction that needs to be closely appraised before vetting?
If just 5 parties apply to buy 38 super high-end apartments through 2 property agents, does it take a genius to figure out that it's a transaction that needs to be closely appraised before vetting?
180 million is not chin choi lui.
I read this twice. Did I read it right? As long as you have $200k in a UOB account, you can apply for a loan in excess of up to $6mil ?
http://forums.fuckwarezone.com.sg/e...rate-rises-sharply-second-day-4931185-10.html
good point raised.
According to Latest URA figures for MC S$1,884 psf only
https://www.ura.gov.sg/realEstateII...2LQDTMY6YWwQdxWLW6nn1xvnhT0TvYF3Q!-1975122420
anyone knows whether Pastor Kong Hee is on the List of 38 ???
Sentosa Cove: His god deserts Kong Hee?
In Property on 15/07/2014 at 4:21 am
“We believe in you for better jobs, raises and bonuses, finding money, money finding us, incomes, royalties, real estates, dividends, inheritances…We pray to Jesus and there shall be a turnaround,” sums up the essence of the prosperity gospel*.
I was reminded of the above when it was reported yesterday that the trial of Kong Hee and friends was resuming.
Well his god seems to have left him to swing in the wind when it comes to property investing. Reminder: he owns a Senosa penthouse. A benefactor of Kong Hee’s church, an Indonesian tycoon, Wahju said in court a few months ago, that he and Kong have been paying $17,000 a month each for a penthouse at Ocean Drive since 2008. The tycoon had tot it would make a gd investment.
The penthose remains underwater, not literallo, of course. I was reminded of the penthouse by a BT report of a few weeks ago, that I juz read on Sunday.
ABOUT two in five Sentosa condominium units have resold at a loss in the past year, symptomatic of the plight of luxury homes here, as financing restrictions put off buyers, industry watchers say.
Since May last year, 31 units have changed hands at six Sentosa projects: Marina Collection, Seascape, The Azure, The Berth, The Coast and The Oceanfront, according to data compiled by STProperty.sg from URA Realis.
The profitability findings is in line with data gathered by HSR Research which shows resale prices at the plush Sentosa district falling 25 per cent to about $1,800 psf in the first five months of this year, compared to around $2,400 psf over the Jan-May 2013 period**.
Maybe his god thinks giving him Sun Ho and her filthy rich parents (they are paying his legal fees) is enough prosperity for one man? But he was too greedy and incurred the wrath of god? Hubris?
Or maybe he is a S’porean Job. The Lord’s praise of Job prompted Satan to challenge Job’s integrity, suggesting that Job served God simply because God protected him. God removed Job’s protection, allowing Satan to take his wealth, his children, and his physical health (but not his life) in order to test Job’s character. (Wikipedia)
And all will be well. God rewards Job’s obedience during his travails and restores his health and doubles his original riches.
Let’s see.
that's why the whole property scene is nothing but a scam , a ponzi scam and it would collapse soon. alot of idiots like UOB are are in denial till the end. what this scam is is just the tip of the iceberg. the past few years alot of conmen masqueradingas prop "gurus:" are teaching alot of idiots how to buy 10-20 properties with little or no down payments like above. this is not new. the indon banks and developers did the same thing in the 1997 asian financial crash. they are just repeating the scam here. in fact UOB fiasco is not new or isolated. It works so far as property prices goes up or rentals remains high BUT once you got just a minor crises , they would all start to default like this case 37 out of 38 at sentosa. at least 40% of all properties are bought by this method for short term speculation and the property agents are in cahoot. teh figure are so alarming in past few years , thats why garmen put up the absd and loan caps and the whole thing is unravelling very fast.Today sentosa and orchard rd properties are going for a 40-50% discounts and no takers. Now my source in banks are telling me all the housing loans are being tightened so resale is harder for buyers (even is discounted) and all existing loans are being scrutinised. this means doomsday as flpping prop is gione for good and so thiose idiots and tjose servicing teh mortagges, they are in deep shit when banks start to raise interest rates and ask for top up once reach property reach negative equity. stand chart have fired 4000 staff worldwide and at least 300 in singapore and alot of bankers are told to pack up. heard other banks are doing the same. told you in 2012-14 taht recession and deflation would hit in 2015 . having the last laugh. hahahhaha.
Kong Hee’s family ‘upgraded’ from 5 room HDB flat to Sentosa Cove Penthouse
Posted by temasektimes on June 28, 2012
http://temasektimes.wordpress.com/2...om-5-room-hdb-flat-to-sentosa-cove-penthouse/
In less than 20 years, founder of City Harvest Church Kong Hee managed to ‘upgrade’ his homes a few times from a
modest 5-room HDB flat to Sentosa Cove penthouse where he is staying now.
Kong Hee was in public spotlight lately after he was charged with four others for misusing the funds of the church to further the career of his wife Ho Yeow Sun.
Kong and his family started with a five-room HDB flat in Tampines, which they bought for $127,000 before selling it for $420,000.
They then bought a Horizon Towers unit in River Valley with a private lift, two living rooms, four bedrooms and a compact kitchen.
In 2010, they sold this apartment and moved into The Suites at Central on Devonshire. It was reportedly sold to them for $2.6 million.
Now, they live in a luxury Sentosa Cove penthouse which cost $9.3 million dollars.
Ms Ho also rented a $28,000-a-month Hollywood Hills estate during her stint as a singer in the United States where she lived with her son, an assistant, a nanny and some relatives.
Eh, harrow, $16k for deposit to stand for election is not chin choi lui. $180 million is KSL choi lui.
Just enjoy posting chin choi lui to you.
Horizon Towers is in Leonie Hill Road, not River Valley. River Vally Rd is in fact further from Horizon Towers then Grange Road. And Horizon Towers does not have private lifts. All lifts stops are in the lobby of the apartments. So, u walk out of the lift into your living room. It may seem like its a private elevator but its not. ALl elevators are shared by all the units. I am very sensitive about Horizon Towers, ok?
Superdoooooo.... Zuper Research Deeee ....!!!
Sir how cum UOB only suuuuueee Lippo leh ????
Strange leh , because Marina Collection was jointly develop by
Lippo and 3 other Parties , Marina Club , OCBC
and RZB ( Austria's Raiffeisen Zentralbank)
see link below
http://www.propertyvizion.com/details.php?id=153
Bros How cum MyPaper never Research properly then write one
http://mypaper.sg/top-stories/uobs-181m-suit-over-inflated-housing-loans-20150107