Church & Missions

All the action taken in 2010 to clear all the Xtron and Firna bond transactions were to protect church members and to prevent distraction from the church’s move into its new premises at Suntec Singapore, said Kong Hee this morning.

God knows something about small beginnings that we don’t, said Paul Scanlon as he preached a timely message of not giving up during tough times.

29 August 2014 – Summary of Day 20 of CHC hearing.

As long as everything was within legal boundaries, and as long as he wasn’t legally obligated to reveal details and relationships, Kong Hee preferred to keep disclosure to a minimum, at times to protect the mission of the Crossover.

In this morning’s short session, Kong explained that there was nothing wrong in using drawdowns to repay loans as, ultimately, the sales of the album would have covered the bond principal and interest.

Prosecution disputes genuineness of church’s bond investment on the basis that there was never an intention for Xtron to make good its liability to CHC; Kong disagrees, stating that church would enforce legal obligations had it been necessary.

26 August 2014 – Summary of Day 17 of CHC hearing.

Prosecution accuses Kong Hee and team of proceeding with $13m of Xtron bonds when projections of low music album sales meant that church would only recoup its investment in 10 years; Kong justifies that revised sales projection figures later on delivered a much more positive outlook.

Kong Hee revealed co-defendant Chew’s position as a member of the church who had fallen upon bad times, and his role as the one structuring the Xtron bonds.