CHC Confession
DPP produced emails that showed Serina Wee approaching Kong Hee and Tan Ye Peng to find ways to increase sales for Xtron.
One email also showed Kong Hee gave approval.
Kong Hee argued that all Xtron's billings to CHC were legit and commercially viable.
One particular mark-up of $630,000 was necessary as Xtron ran out of money at that time.
Kong Hee agreed that the mark-up of $630,000 caused a loss for CHC... but Kong Hee argued that it actually benefitted CHC to the effect that a financially strong Xtron would be able to fulfill the crossover mandate that CHC could not achieve on its own.
DPP put it to Kong Hee that he had control on income transfers from CHC to Xtron and transfers of expenses from Xtron to CHC, and that Kong Hee was involved in getting the financing for the crossover project.
DPP put it to Kong Hee that in fact he was the ultimate authority in ensuring the crossover project was being financed.
DPP insisted that Kong Hee had to do with the dealings of the alleged sham bonds.
DPP also produced an email that showed Kong Hee telling Tan Ye Peng and Chew Eng Han to find ways to get funds for Sun Ho.
Kong insisted that the ultimate decision makers for the alleged sham bonds are CHC Board of Directors and Xtron's directors.
DPP asked Kong Hee if he had told Tan Ye Peng and Chew Eng Han to look only for bank loans for Xtron and nothing else, would they still have gone ahead to do the bonds?
Kong Hee said "Chew Eng Han is a very persuasive man and is a very tenacious man. He may come back to me a few weeks later and suggest it again..."
Kong Hee further said that he had told Tan Ye Peng and Chew Eng Han to check and to clear the bonds with the lawyers and auditors.
DPP put it to Kong Hee that he was lying when he said he was not involved in the financing because he wanted to distance himself from the bond transactions which he knew to be sham and solely motivated by a desire to channel the Building Fund under the guise of investments to the crossover project.
Kong Hee replied he is a pastor not a financial person and therefore he did not make decision for the alleged sham bonds but he left it to CHC Board of Directors and Xtron's directors to make the decision on the bonds.
DPP continued to show emails that Kong had ultimate control of Xtron's cash flow.
The emails showed that Serina Wee always kept Kong Hee updated on Xtron's cash flow and Serina Wee also sought Kong Hee's instructions when Xtron's cash flow was running low.
Kong maintained again that it was CHC Board of Directors that approved all the decisions pertaining to the alleged sham bonds. Kong Hee maintained that Serina Wee was merely asking him for his opinion.
(Note: Kong Hee terminated negotiations with Wyclef without asking Xtron's directors and this conflicted with his stand that he only acts on Xtron directors' approval)
DPP went on to show evidence that before 2003, CHC was using church funds to pay for Sun Ho's singing career via Attributes Pte Ltd (APL).
DPP went on to show minutes of AGM on 27 Jun 2003, after the Roland Poon incident.
In the minutes, Kong Hee told the Executive Members (EM) that not a single cent of church fund was used for Sun Ho's singing career.
DPP asked Kong if this is accurate.
Kong Hee replied that Brother Foong Daw Ching told him that no church fund was used, so Kong Hee told the EMs that no church fund was used as he respects Brother Foong Daw Ching.
DPP asks again if this is accurate that not a single cent of church fund was used.
Kong Hee said that in his simplistic mind, he followed Foong Daw Ching's advice. On hind sight, Kong Hee felt he should have checked with other people rather than to just believe in what Foong Daw Ching said.
DPP asked how did Hanafi's refund come back to cover crossover's deficit.
Kong Hee told the court that Hanafi had promised to underwrite the crossover and when the Roland Poon incident broke, the board approached Hanafi Wahju to cover the amount APL paid for Sun Ho via a refund of the building fund that Hanafi contributed.
DPP then showed a document that John Lam gave a different story.
John Lam told CAD officers that Hanafi gave wrongly to the building fund thinking that it also covered crossover. John Lam said that the Building Fund gave a refund to Hanafi so that he could re-direct the donation to the crossover.
DPP then asked Kong which is the correct version.
Kong Hee replied that John Lam's testimony should be the correct one..
DPP asked again if it was accurate to say not a single cent of church fund was used.
Kong Hee replied that he was simple minded to believe Foong Daw Ching and he should have checked with others on this.
Kong Hee also said he didn't know that there was a refund from Building Fund to Hanafi Wahju. Kong said he thought it was fresh new funds.
Only later then Kong Hee knew it was a refund of Hanafi Wahju's donation to the Building Fund.
DPP put it to Kong Hee that contrary to his evidence suggesting that he was not so clear about Wahju's reallocation of his Building Fund to the crossover in 2003, Kong Hee was actually the one who wanted the reallocation to the crossover so that he would be able to tell the church that no church funds had been used.
Kong disagreed and maintained that he was just reiterating what Brother Foong Daw Ching had told him.
To be continued....
DPP produced emails that showed Serina Wee approaching Kong Hee and Tan Ye Peng to find ways to increase sales for Xtron.
One email also showed Kong Hee gave approval.
Kong Hee argued that all Xtron's billings to CHC were legit and commercially viable.
One particular mark-up of $630,000 was necessary as Xtron ran out of money at that time.
Kong Hee agreed that the mark-up of $630,000 caused a loss for CHC... but Kong Hee argued that it actually benefitted CHC to the effect that a financially strong Xtron would be able to fulfill the crossover mandate that CHC could not achieve on its own.
DPP put it to Kong Hee that he had control on income transfers from CHC to Xtron and transfers of expenses from Xtron to CHC, and that Kong Hee was involved in getting the financing for the crossover project.
DPP put it to Kong Hee that in fact he was the ultimate authority in ensuring the crossover project was being financed.
DPP insisted that Kong Hee had to do with the dealings of the alleged sham bonds.
DPP also produced an email that showed Kong Hee telling Tan Ye Peng and Chew Eng Han to find ways to get funds for Sun Ho.
Kong insisted that the ultimate decision makers for the alleged sham bonds are CHC Board of Directors and Xtron's directors.
DPP asked Kong Hee if he had told Tan Ye Peng and Chew Eng Han to look only for bank loans for Xtron and nothing else, would they still have gone ahead to do the bonds?
Kong Hee said "Chew Eng Han is a very persuasive man and is a very tenacious man. He may come back to me a few weeks later and suggest it again..."
Kong Hee further said that he had told Tan Ye Peng and Chew Eng Han to check and to clear the bonds with the lawyers and auditors.
DPP put it to Kong Hee that he was lying when he said he was not involved in the financing because he wanted to distance himself from the bond transactions which he knew to be sham and solely motivated by a desire to channel the Building Fund under the guise of investments to the crossover project.
Kong Hee replied he is a pastor not a financial person and therefore he did not make decision for the alleged sham bonds but he left it to CHC Board of Directors and Xtron's directors to make the decision on the bonds.
DPP continued to show emails that Kong had ultimate control of Xtron's cash flow.
The emails showed that Serina Wee always kept Kong Hee updated on Xtron's cash flow and Serina Wee also sought Kong Hee's instructions when Xtron's cash flow was running low.
Kong maintained again that it was CHC Board of Directors that approved all the decisions pertaining to the alleged sham bonds. Kong Hee maintained that Serina Wee was merely asking him for his opinion.
(Note: Kong Hee terminated negotiations with Wyclef without asking Xtron's directors and this conflicted with his stand that he only acts on Xtron directors' approval)
DPP went on to show evidence that before 2003, CHC was using church funds to pay for Sun Ho's singing career via Attributes Pte Ltd (APL).
DPP went on to show minutes of AGM on 27 Jun 2003, after the Roland Poon incident.
In the minutes, Kong Hee told the Executive Members (EM) that not a single cent of church fund was used for Sun Ho's singing career.
DPP asked Kong if this is accurate.
Kong Hee replied that Brother Foong Daw Ching told him that no church fund was used, so Kong Hee told the EMs that no church fund was used as he respects Brother Foong Daw Ching.
DPP asks again if this is accurate that not a single cent of church fund was used.
Kong Hee said that in his simplistic mind, he followed Foong Daw Ching's advice. On hind sight, Kong Hee felt he should have checked with other people rather than to just believe in what Foong Daw Ching said.
DPP asked how did Hanafi's refund come back to cover crossover's deficit.
Kong Hee told the court that Hanafi had promised to underwrite the crossover and when the Roland Poon incident broke, the board approached Hanafi Wahju to cover the amount APL paid for Sun Ho via a refund of the building fund that Hanafi contributed.
DPP then showed a document that John Lam gave a different story.
John Lam told CAD officers that Hanafi gave wrongly to the building fund thinking that it also covered crossover. John Lam said that the Building Fund gave a refund to Hanafi so that he could re-direct the donation to the crossover.
DPP then asked Kong which is the correct version.
Kong Hee replied that John Lam's testimony should be the correct one..
DPP asked again if it was accurate to say not a single cent of church fund was used.
Kong Hee replied that he was simple minded to believe Foong Daw Ching and he should have checked with others on this.
Kong Hee also said he didn't know that there was a refund from Building Fund to Hanafi Wahju. Kong said he thought it was fresh new funds.
Only later then Kong Hee knew it was a refund of Hanafi Wahju's donation to the Building Fund.
DPP put it to Kong Hee that contrary to his evidence suggesting that he was not so clear about Wahju's reallocation of his Building Fund to the crossover in 2003, Kong Hee was actually the one who wanted the reallocation to the crossover so that he would be able to tell the church that no church funds had been used.
Kong disagreed and maintained that he was just reiterating what Brother Foong Daw Ching had told him.
To be continued....
No comments:
Post a Comment