Stunning relevation about $500,000 GIC housing loan in Ong Seh Hong's testimony

[londontrader]

"A charitable organisation giving out lower interest rate or zero interest rate loans to PAP ministers"

Which PAP ministers?

 

[miosux]

He is my MP

Fuck up MP

Never fullfil his promise during meet the people session.

Never reply email.

Act blur....

Hopeless, anyway he is just a work over MP not a elected MP...

send him an email "if you don't reply, i will not vote for you"

 

[cass888]

Typical allegation of the types of the MONGREL who bit his masters' hands LOUDHAILER chee soon juan.

Of course employee loans are lower interest or interest free.

And since when was OSH a minister? He wasn't even an MP then. If may very well be that the antics of the monk was what got OSH noticed by the PAP as a potential candidate. But no, this is the chance of the MONGREL who bit his masters' hands LOUDHAILER chee soon juan to throw allegations.

Why should Renci lend you? You don't work for them, and frankly they don't need you.

2) Why did you choose to take the loan from Ren Ci instead of the banks?

3) Did you pay interest on the loan, and if so, was the interest rate comparable to then-prevailing market rates?

Renci obviously gives him interest free loans or a low interest rate loan.
otherwise, why would he loan from Renci instead of the banks ?

A charitable organisation giving out lower interest rate or zero interest rate loans to PAP ministers.....fantastic.

Can Renci loan me $60,000 too, zero interest rate for a year ? I promise I will return them in a year's time.

Someone please tell me which bank offers the highest deposit interest rate for $60,000?

 

[peterlth]

send him an email "if you don't reply, i will not vote for you"

send him an email and CC to LHL "if you don't reply, i will not vote for PAP"

 

[Hope]

60k he dun have meh?????

i think we need to review MP pay.... should double it immediately

High living,my boy,high living,that's it.

Why do you think PAP ministers need more than $2 million and PAP CEEOS,need in excess of $7 million per year.


High living,my boy,high living,that's it.

 

[JohnTT]

Just to be clear
In your opinion, what was wrong with his end of the handshake

I have no axe to grind if:

1. It was a bridging loan to facilitate a transition to a new appointment
2. The loan was temporary
3. It was interest bearing
4. There was full transparency and accountability

My goodness! Do you understand the meaning of handshake? Both parties are EQUALLY responsible. How can u push the blame to Ren Ci alone?

Example : If someone bribed you, & you accepted the money, can you say the problem lies with their person, & not you b'cos you are on the other side of the handshake. Pls be clear-minded. Black is black & white is white. Black cannot be white & vice versa.

 

[cowbehcowbu]

For anybody who wants to join a charitable organisation should know that his personal willingness TO SERVE CHARITY is a noble course...vice verse charity organisation should not recruit people stirctly on commercial terms....let other profitable hospital had those who only concern about his own course of well beings...REMEMBER these monies in RENCI are all well wichers' DONATION ..
MINGYI had commited so many breaches in law and religious codes....lets examine the entire management of RENCI ...and weed off those self-centred people who are not commited to charitable course....
THE PUBLIC HAD LOST CONFIDENCE IN RENCI...NEED EXTRA EFFORT TO REPAIR THE DAMAGES...LIKE NKF...
SAD...

 

[miosux]

Dear John

Hmmmm by your argument, the fact that he is drawing any form of salary from Ren Ci means that he is depriving needy patients of treatment as an MP, thus as an MP he should just well work for free for Ren Ci as should all the staff and they should live on love and fresh air.

Locke

don't be disingenuous, ur twisting his words very obviously. John was referring specifically to the loan.

 

[londontrader]

"My goodness! Do you understand the meaning of handshake? Both parties are responsible. How can u push the blame to Ren Ci alone?"

Is there any indication that Ong had any ex ante knowledge that the CEO cum Monk didn't have the proper authority to make that offer? An offer that is common practice for snr mgt positions.

Is there any indication that Ong had any ex poste knowledge that something improper had transpired? (prior to the CAD investigation)

Is it reasonable to expect a person appointed to a clinical position to be able to detect accounting irregularities on the part of his CEO?

I think you need to establish the facts before you start crucifying some one. Guilt by hearsay & supposition? Is that your modus operandi? Personally, I'll wait for clarification before branding Ong as guilty as Ren Ci. It is already significant that the CAD hasn't brought Ong into the picture.

"Example : If someone bribed you, & you accepted the money, can you say the problem lies with their person, & not you b'cos you are on the other side of the handshake. Pls be clear-minded. Black is black & white is white. Black cannot be white & vice versa."

So why isn't Ong being charged along with the Ren Ci characters?
Please do explain that to me with your CLEAR MIND.

 

[Porfirio Rubirosa]

Ong was not an MP when he joined Renci and took the loan...however he was still paying back the loan when he became an MP albeit in accordance wit the t&c of the loan from Renci - not sure whether this loan carried "interest" though

It was a staff loan
06:00 AM April 18, 2009
Dr Ong Seh Hong, MP for Marine Parade GRC
IN THE on-going trial of Reverend Ming Yi, my name was mentioned in relation to a loan made to me when I joined Ren Ci Hospital and Medicare Centre as a staff. I am writing to state the facts of the loan and the events leading to it.

I had an outstanding staff housing loan from my previous employer, the Government of Singapore Investment Corporation (GIC) in 1999. I was offered a job by Ren Ci Hospital and Medicare Centre to be Director, Medical and Paramedical Services in January 2000. This was before I was elected as an MP in October 2001.

To join Ren Ci, I had to settle my housing loan with the GIC. One of the conditions for accepting the job in Ren Ci was that Ren Ci was to grant me a loan of $60,000 as a staff loan, to pay off in part the outstanding loan I owed to GIC.

I repaid the sum of $60,000 within three years by December 2002 as per the terms on which the loan was given to me.

When I borrowed the sum of $60,000 from Ren Ci, I was not an MP. Ren Ci extended the loan to me as a staff.

These are the facts surrounding the staff loan extended to me as an employee of Ren Ci Hospital.

He must be the best or only one available for the ceo job. A sort of die die must employ him scenario. A ceo ought to know what is proper governance for a public charity. If he repaid the loan, with interest, before becoming an mp, I think he had not taken advantage of the situation or of the monk and we should give him the benefit of doubt.

 

[Porfirio Rubirosa]

I wonder are these incontrovertible facts?

Just to be clear
In your opinion, what was wrong with his end of the handshake

I have no axe to grind if:


3. It was interest bearing
4. There was full transparency and accountability

 

[Porfirio Rubirosa]

Yes but then there must be proper and adequate transparency and accountability

If a charity can run an efficient operation based on criteria 3 & 4, then well done!
I suspect that one needs a combination of 1 & 2 as well. Afterall, who really suffers if a charity can't achieve it's aims because of poor staffing.

 

[londontrader]

For anybody who wants to join a charitable organisation should know that his personal willingness TO SERVE CHARITY is a noble course...vice verse charity organisation should not recruit people stirctly on commercial terms....let other profitable hospital had those who only concern about his own course of well beings...REMEMBER these monies in RENCI are all well wichers' DONATION ..
MINGYI had commited so many breaches in law and religious codes....lets examine the entire management of RENCI ...and weed off those self-centred people who are not commited to charitable course....
THE PUBLIC HAD LOST CONFIDENCE IN RENCI...NEED EXTRA EFFORT TO REPAIR THE DAMAGES...LIKE NKF...
SAD...

No commercial terms?
So how should a hospital (financed by charitable donations) recruit staff?
Staffing by volunteers?
Recruitment by offering very low remuneration (relative to the market)?

 

[Porfirio Rubirosa]

He was an MP while paying back the Renci loan

Typical allegation of the types of the MONGREL who bit his masters' hands LOUDHAILER chee soon juan.

Of course employee loans are lower interest or interest free.

And since when was OSH a minister? He wasn't even an MP then. .

 

[londontrader]

Yes but then there must be proper and adequate transparency and accountability

Yes and that's why those Ren Ci characters are in the dock.
Not because it is improper to offer their staff commercial rates.

 

[londontrader]

He was an MP while paying back the Renci loan

He took 3 years to repay
A bit generous in my opinion
now we need to know if it was interest bearing
All this should have been disclosed to the PAP
Taking a bit of time to provide clarification aren't they?

 

[londontrader]

I wonder are these incontrovertible facts?

No they are not yet
that's why I maintain that the man is innocent until PROVEN guilty

 

[Porfirio Rubirosa]

Assuming commercial rates in the first place

Yes and that's why those Ren Ci characters are in the dock.
Not because it is improper to offer their staff commercial rates.

 

[Porfirio Rubirosa]

From the horse's own mouth Bro

It was a staff loan
06:00 AM April 18, 2009
Dr Ong Seh Hong, MP for Marine Parade GRC
IN THE on-going trial of Reverend Ming Yi, my name was mentioned in relation to a loan made to me when I joined Ren Ci Hospital and Medicare Centre as a staff. I am writing to state the facts of the loan and the events leading to it.

I had an outstanding staff housing loan from my previous employer, the Government of Singapore Investment Corporation (GIC) in 1999. I was offered a job by Ren Ci Hospital and Medicare Centre to be Director, Medical and Paramedical Services in January 2000. This was before I was elected as an MP in October 2001.
To join Ren Ci, I had to settle my housing loan with the GIC. One of the conditions for accepting the job in Ren Ci was that Ren Ci was to grant me a loan of $60,000 as a staff loan, to pay off in part the outstanding loan I owed to GIC.

I repaid the sum of $60,000 within three years by December 2002 as per the terms on which the loan was given to me.

When I borrowed the sum of $60,000 from Ren Ci, I was not an MP. Ren Ci extended the loan to me as a staff.

These are the facts surrounding the staff loan extended to me as an employee of Ren Ci Hospital.

Has anyone established that yet?
Ong was an MP after the 2001 GE (took the loan in 2000)
A bridging loan isn't meant to bridge a long period
The repayment needs clarification too

 

[Porfirio Rubirosa]

oh yes...but Ong's flip flop, defensive and self serving attitude thus far already raises questions about his character

No they are not yet
that's why I maintain that the man is innocent until PROVEN guilty
What's the rush to crucify some one just because he is a PAP MP
Let's wait for the facts to be established