| http://forums.delphiforums.com/3in1kopitiam/messages?msg=56398.1 EXPOSED: Tony Tan and family bought 3 units of SPH project Sky@eleven before its soft launch in 2007 According to a tip-off we received from a SPH insider, Tony Tan and his family bought three units of Sky@eleven condominium before they were officially launched in 2007. Sky@eleven is a freehold luxury development by Times Development, the property arm of Singapore Press Holdings Ltd (SPH) 
According to a tip-off we received from a SPH insider, Tony Tan and his family bought three units of Sky@eleven condominium before they were officially launched in 2007. Sky@eleven is a freehold luxury development by Times Development, the property arm of Singapore Press Holdings Ltd (SPH) Located at Thomson Lane, off Thomson Road, the 43-storey high Sky@eleven is the tallest development in the area. One major selling point of Sky@eleven was its attractive pricing, averaging at $975 psf. The highest price recorded was $1,200 psf. In 2007, SPH sold out all of 273 units of Sky@eleven condo within 30 hours of its soft launch on the evening of Sunday, 28 January, even before the public launch which was scheduled for this weekend. In a statement released to the media, then SPH Chairman and Director Dr Tony Tan said: “We are extremely happy with the overwhelming response and at the same time very grateful to the buyers for their support for our exclusive development.” However Dr Tony Tan did not reveal that his eldest son and daughter-in-law as well as a company partly owned by him and his immediate family had bought 3 units of Sky@eleven before its soft launch. Below are the pre-sale options some directors asked for and obtained, as declared by SPH to its shareholders, but not reported in the press. The Directors of Singapore Press Holdings Limited (“SPH” or the “Company”) wish to announce that the Board has approved the proposed sale of units (the “Units”) in the residential development known as Sky@eleven to the following persons who are interested persons of SPH pursuant to Chapter 9 of the Listing Manual of the Singapore Exchange Securities Trading Limited (the “Purchaser”): - Tan Boon Huan, Peter, son of Tony Tan Keng Yam and Tan Yew Mei, daughter-in-law of Tony Tan Keng Yam # 39-09 Sky@eleven $1,871,000 - Bee Kiang (Private) Limited, a company in which Tony Tan Keng Yam and his immediate family have an interest of 30% or more. # 41-01 Sky@eleven $3,074,000 - Bee Kiang (Private) Limited, a company in which Tony Tan Keng Yam and his immediate family have an interest of 30% or more. #41-02 Sky@eleven $2,828,000 Download the SPH file here: http://www.temasekreview.com/simages...airman_IPT.pdf The prices of Sky@eleven have almost doubled since it was launched in 2007. Based on the latest transactions with caveats lodged from URA, Sky@eleven are now selling at between $1,500 – $1,600 psf. read more here: http://www.ura.gov.sg/realEstateWeb/...xsG!-707989957 After he retired from politics in 2006, Dr Tony Tan was appointed as Chairman of SPH by the PAP regime. Dr Tony Tan and his family would not be able to obtain the pre-sale options to purchase exclusive units of Sky@eleven before its soft launch if he were not a director of SPH. Since he is running for the presidency now, Dr Tony Tan should come clean with Singaporeans and revealed the identities of his other family members who have bought the two units of Sky@eleven under his company Bee Kiang (Private) Limited. |
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