MDA CEO buying $10 million Corals condo

[Confuseous]

DESPITE flat demand in the luxury market so far this year, at least two condominium units with a price tag of over $10 million each were sold over the past fortnight. Keppel Land told the Singapore Exchange on Tuesday that family members of Mrs Koh-Lim Wen Gin, a former Urban Redevelopment Authority (URA) chief planner, bought the units at its upcoming project Corals at Keppel Bay. Mrs Koh has been an independent director of Keppel Land since January 2010.

One of the buyers is her daughter, Ms Koh Lin-Net, the chief executive of the Media Development Authority. Ms Koh took office last November and prior to that was deputy secretary of trade at the Ministry of Trade and Industry.

Ms Koh and her husband Lawrence Low bought a 3,477 sq ft four-bedder at Corals for slightly below $10.1 million, which works out to around $2,901 per sq ft for the second-floor unit. The option to purchase is dated May 19.

- http://everythingalsocomplain.com/2013/06/02/mda-ceo-buying-10-million-corals-condo/

 

[winnipegjets]

Civil servants, MPs and Ministers earning above $100,000 should have their tax returns publicly available for public viewing, so that sinkees are assured that they wealth are earned through legitimate means and that sinkees can learn the secrets of accumulating such enormous wealth.

 

[BuiKia]

MDA Chief Koh Lin Net $10 MILLION Condo Saga

Posted by Channel News Asia forum user 'millionaire ':
"Another AIM saga...this time 3 family members...

According to BusinessWeek, Mrs Koh-Lim Wen Gin was URA’s Chief Planner and Deputy Chief Executive Officer from 2001 to 2008. She has also been an Independent Director of Keppel Land Ltd since January 20, 2010.

Mrs Koh-Lim’s daughter, Ms Koh Lin-Net, has been granted options to purchase a unit or units at Corals at Keppel Bay.
Ms Koh Lin-Net is none other than the CEO of MDA. She has been MDA Chief since 1 November last year. She has also been Director of Singapore Health Services Pte Ltd since 1 July 2012. Ms Koh Lin-Net serves as a Director of The Esplanade Co Ltd and Singapore Land Authority.

Koh Seow Chuan, married to Lim Wen Gin, is founder of DP Architects which built Esplanade.

Mommy proposed an idea. Daddy got the contract. Daughter takes charge. Huat ah !!!
How? like that kelong or not? So coincidental whole family involved ???"

Source link: http://forum.channelnewsasia.com/showthread.php?776592-Another-AIM-saga...this-time-3-family-members

RELATED article with MORE juicy details at: www.tinyurI.com/MDA10Million

 

[iamhere]

Re: MDA Chief Koh Lin Net $10 MILLION Condo Saga

this is juz one of the countless by-products u get for e papees' 40+++ yrs
of bullshitting the country.....




REMEMBER to

VOTE papees OUT



do yrself, yr forefathers and yr generations to come, a favor, a service and a long-awaited justice

 

[zhihau]

Re: MDA Chief Koh Lin Net $10 MILLION Condo Saga

it's purely business... :o:o:o

 

[bebo]

Re: MDA Chief Koh Lin Net $10 MILLION Condo Saga

Yah, looks like business

 

[BuiKia]

Re: MDA Chief Koh Lin Net $10 MILLION Condo Saga

23% discount each, meaning 2.3 million per unit. They just made almost 5 million just for being related?

Now you know why the policy makers do not want to curb private property prices?



Two units were sold to the family members of Mrs Koh-Lim Wen Gin:

Unit #02-08 (3,477 sf – 4 bedroom)
Purchasers: Lawrence Low Kok Leong and Koh Lin-Net
Date of Option to purchase: 19 May 2013
Purchase Price: $10,085,250 ($2,901 psf)
Discount: 10%+10%+3%

Unit #01-08 (3,660 sf – 4 bedroom)
Purchasers: Kevin Koh In-Chuen
Date of Option to purchase: 20 May 2013
Purchase Price: $10,306,820 ($2,816 psf)
Discount: 10%+10%+3%

 

[po2wq]

Re: MDA Chief Koh Lin Net $10 MILLION Condo Saga

no worries la ...

ah loon wil juz ask mnd 2 do another study la ...

ofcos ze results wil show evryting done according 2 sop ...

 

[zhihau]

Re: MDA Chief Koh Lin Net $10 MILLION Condo Saga

23% discount each, meaning 2.3 million per unit. They just made almost 5 million just for being related?

they didn't make 5 million out of it. they saved themselves that sum of money during the purchase.
any sums made of the profits later is another issue altogether... totally unrelated to this discount :p:p:p

 

[Leongsam]

Re: MDA Chief Koh Lin Net $10 MILLION Condo Saga

Successful people buying luxury property... nothing wrong with that at all. The fact that they're related has no bearing on the issue whatsoever.

 

[enterprise2]

Re: MDA Chief Koh Lin Net $10 MILLION Condo Saga

Successful people buying luxury property... nothing wrong with that at all. The fact that they're related has no bearing on the issue whatsoever.

As usual u lost the plot or just being deliberate blur! The point is why they r given bigger discount than the rest of us !!

 

[Leongsam]

Re: MDA Chief Koh Lin Net $10 MILLION Condo Saga

As usual u lost the plot or just being deliberate blur! The point is why they r given bigger discount than the rest of us !!

When I buy stuff from my regular camera shop, I get a bigger discount compared to ordinary consumers too. It's because I'm an important customer who has already spent a bomb buying all sorts of camera gear. I get 15% to 20% off whereas if you went to the same shop, you wouldn't get more than 10% off the advertised price.

Important people are treated better. That's why every single ambitious person in the world strives hard to successful in life.

I honestly can't understand why so many members here make such a big fuss over the obvious.