CHC Comes Clean

[cheekenpie]

MEDIA CLARIFICATIONS BY THE MANAGEMENT BOARD OF CITY HARVEST CHURCH

On March 7, 2010, The Straits Times published an article titled “City Harvest paying $310m to become Suntec co-owner”, followed by a March 20, 2010, article titled “COC Questions City Harvest Church”.

The Management Board of City Harvest Church would like to clarify that CHC’s conduct has not at any time been questioned by the Commissioner of Charities. The COC did, however, request additional details, which were gladly provided by CHC.

The Board would also like to clarify the following facts:
1. Our Church, through a special purpose investment holding company wholly owned by CHC, has acquired and holds an indirect minority stake in the holding company of Suntec Convention Centre. The minority stake is therefore not directly held by the Church, as suggested by The Straits Times. The use of this special purpose investment holding company facilitates distinct accounting for the investment and segregates the investment from the other regular activities of the Church. It does not have charitable status and is not entitled to any tax or other concessions.

2. CHC’s investment in the Convention Centre is a prudent and considered decision. It is specifically intended to hedge the Church against its rental costs at the same Convention Centre, and dividends received will help to defray rental costs. Therefore the Board does not consider this investment to be subjecting the Church’s assets and resources to an unacceptable risk.

3. CHC reiterates that the sum of $310 million mentioned in the articles is not the value of the building, but rather the sum of various costs to CHC. These costs include rental cost over the licensed period, renovation and equipment costs, rental deposits, periodic shifting costs, etc. and it does not represent solely the cost of the minority stake.

4. Neither CHC nor its special purpose investment holding company is involved in the daily operations of the Convention Centre. The Convention Centre is managed by Suntec Singapore International Convention and Exhibition Services Pte Ltd, a wholly-owned subsidiary of ARA Asset Management Ltd.

5. CHC does not have exclusive use of any areas. Suntec Singapore continues to actively market all the spaces to attract major events to the exhibition and convention centre.

 

[SneeringTree]

MEDIA CLARIFICATIONS BY THE MANAGEMENT BOARD OF CITY HARVEST CHURCH

On March 7, 2010, The Straits Times published an article titled “City Harvest paying $310m to become Suntec co-owner”, followed by a March 20, 2010, article titled “COC Questions City Harvest Church”.

The Management Board of City Harvest Church would like to clarify that CHC’s conduct has not at any time been questioned by the Commissioner of Charities. The COC did, however, request additional details, which were gladly provided by CHC.

The Board would also like to clarify the following facts:
1. Our Church, through a special purpose investment holding company wholly owned by CHC, has acquired and holds an indirect minority stake in the holding company of Suntec Convention Centre. The minority stake is therefore not directly held by the Church, as suggested by The Straits Times. The use of this special purpose investment holding company facilitates distinct accounting for the investment and segregates the investment from the other regular activities of the Church. It does not have charitable status and is not entitled to any tax or other concessions.

Clarify shit lor. Where did the initial principal for the holding company come from? How do funds get injected into the holding company.

The way I see it, CHC=CPF; "Special purpose investment holding company"=Temasick and GIC

 

[cooleo]

Can answer one question directly or not? MONEY COME FROM CHURCH-GOERS?

 

[cheekenpie]

Can answer one question directly or not? MONEY COME FROM CHURCH-GOERS?

How about the name of the special holding company? I wonder who sits on its board??

I wonder wonder...

 

[saratogas]

So all CHC church members are also investor of this special purpose investment holding company wholly owned by CHC? Do they get dividends every year?

 

[cheekenpie]

So all CHC church members are also investor of this special purpose investment holding company wholly owned by CHC? Do they get dividends every year?

For the church echelon, this investment and dividend is a hedge for rental costs.

For the money donating church goer, this investment is a hedge against going to hell.

 

[MarrickG]

This is what happen when a church becomes too big. Instead of doing God's work, they become greedy and wants to make money and increase their income. I thought they always say "God will provide", do they have no faith in God now?

Imagine how much good they could do the help the poor in Singapore with the 300 plus millions!!!

 

[balajii]

KNN talk so much cock for what.

creative accounting say so lah. CHC trying to smoke again. chey:oIo:

 

[elephanto]

This public 'clarification' by the CHC Board is quite a contrast to how Sr Pastor Kong enthuses his flock within their church walls.

See below, excerpt taken from comments to kong's blog from none other than his own ministry member:-

Source - http://www.konghee.com/www/2010/03/c...ention-centre/

■david_25 on March 24th, 2010 4:45 pm
I am a ministry member of chc. And I am upset and uncomfortable with the way Pastor Kong presented the news on Arise and Build weekend. I believed he made a terrible mistake in how he presented the information to the members. It could have been clearer, and avoid words like “we have gotten our land”, “co-owners of suntec”, “a substantial stake in the fund owning 80% of suntec convention”, “we have a cut of the profits of suntec convention center’, and “exclusive” use of the premise. These words are misleading. Technically, what he said was not wrong. But hiding behind a wall of technicality, is a good way to avoid giving truthful and factual details. I just feel that the words he used could have been better constructed to reflect the reality of the deal. It’s not asking for all the information (i know the NDA exists) – But just enough to reflect the reality of the deal.

It was precisely that this was not provided. Hence you have members posting in facebook, online and in this blog, that “suntec is ours”, “we owned suntec”, “i own a chair in suntec”, “the wealth of the wicked (read suntec) transfers to us”, “we are taking suntec by storm”, “their hall 5000 seats, ours is 12000.” All these made a field day for reporters and the general public to be concerned. These are not the works of the devil. It’s just our church members giving wood for the fire and the spark for the firestorm to ignite and burn. It is no surprise that the media is having so much news around us. These members are just helping to destroy the credibility of CHC in the marketplace.

What the writer doesn't realise is Kong must say one way to the tithing masses and another to the wider public outside .....

If he cannot drive his congregation hysterical with joy, how to persuade them 'to write an amount that will bring tears to your eyes...' as he pocketed their cheques for the 'glory of God' .....

 

[leetahbar]

How about the name of the special holding company? I wonder who sits on its board??

I wonder wonder...

look at smrt, singtel and related big shot. by right, they claim it's private. by left, it's owned by the gov. just that using a private entity in guise of a gov ownership saves the trouble of sharing the profit with the citizens and goes to pay all their million$

the church is the same if not worst. IT'S A CHURCH - a religious entity. did jesus christ do business when he was preaching the gospel? did he charge demoni possessed victim like 5 gold coins if the demon was classified TYPE A1 or cheaper if it was a D-?

well, demons have really possessed chc and all their kong hee fatt choys. they don't worship GOD now. their god is called S-ELEVEN.

 

[elephanto]

did jesus christ do business when he was preaching the gospel?

Actually he smarter ... no need to get hands soiled in business ...

He just lend his name out ..... and collect image rights, naming rights, copyright, royalties ....... enough oredy ..... see he like modern day Prince & Kong, also need not collect salary from the church.... LOL !

 

[JinGanKor]

the money still comes from the followers, whether it is a special purpose investment holding company or not makes no difference. Unless they can prove that the money comes from somewhere else.

 

[elephanto]

I was trying to type 'Prosperity Gospel', end up typing 'PROPERTY GOSPEL', Hallelujah, the Holy Spirit really guided my fingers !

Anyway, I always find the practice of CHC & NCC to announce their Sr Pastor did not draw salary from their church a hypocritical & deceptive claim ! May be superficially so, but why so defensive & apologetic?

Kong & wife have provided magazines with photos of their homes & lifestyles ! Obstentatious & utterly materialistic !
When there is a will, there is a way - shouldn't be too difficult to draw humongous income yet can't be traced to the church .... why? afraid of negative PR to public & to congregation ?

I'd rather the pay of a pastor be level-headed transparent - x dollars per month. nothing to hide nothing to ashamed of. Rather than all these 'clever' ingenuity to allow righteous members of CHC & NCC to vehemently protest: Our Sr Pastor take no salary from our church ! So Noble !

 

[mercbenz]

Title of this thread - CHC Comes Clean

Kong Hee and friends, having achieved orgasm (comes), proceed to Clean up.

 

[wrcboi]

Actually he smarter ... no need to get hands soiled in business ...

He just lend his name out ..... and collect image rights, naming rights, copyright, royalties ....... enough oredy ..... see he like modern day Prince & Kong, also need not collect salary from the church.... LOL !

haha i concur...god needs money and he cant handles money properly...

 

[rickws8437]

Can answer one question directly or not? MONEY COME FROM CHURCH-GOERS?

Maybe they are selling places in heaven. Just like the show 2012.. Selling a ticket for a million bucks...

 

[mercbenz]

Maybe they are selling places in heaven. Just like the show 2012.. Selling a ticket for a million bucks...

I smell an MLM coming!

 

[elephanto]

More murky insider details of kong's household

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Join Date: Mar 2010



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</td></tr></tbody></table></td> </tr> <tr> <td class="alt1" id="td_post_422018">Today, 04:06 PM <!-- / status icon and date -->
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Miss Ho Yeow Sun's entourage in US include a personal assistant, personal chef, and nanny. Are they being paid by companies started by City Harvest Church?

1. City Harvest Church had a tuition ministry that evolved into City Harvest Education Center. It is currently known as City College. The Principal of City College, Mr Kenneth Low, is also the CEO/Founder of O' School, a dance school where many of its instructors have toured with Sun Ho as dancers. In fact, Mr Low was a dancer for Miss Ho during her Asian concerts. City College has a kindergarten called Little Big. Among those on pay roll includes the nanny for Miss Ho's young son. (If you were to go to Little Big's website, she is one of the four ladies shown in the picture). As Miss Ho has been based in United States for the past years along with her son, the nanny has been with them. Hence, is City Harvest Church indirectly paying for the nanny? Is City College (along with O School) part of City Harvest since it started out as a tuition ministry?

2. One of Miss Ho's personal assistants include the former editor of Harvest Times (the church's magazine publication), and a senior employee of Xtron Productions. The personal chef that resides with Miss Ho had been on City Harvest's payroll as a hospitality staff since 2003.
Perhaps it would one might want to investigate the job descriptions of those on City Harvest's payroll.

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[Equalisation]

CHC, do not act so smug !! Rocket Singh will be clearing all of you up !!

 

[streetsmart73]

Clarify shit lor. Where did the initial principal for the holding company come from? How do funds get injected into the holding company.

The way I see it, CHC=CPF; "Special purpose investment holding company"=Temasick and GIC

hi there

1. bro, good one!
2. hahahaha.
3. left hand goes right hand syndrome man!