Church to co-own Suntec
-
Amid cheers from the congregation, City Harvest Church (CHC) yesterday announced that it will pay $310 million to become a co-owner of Suntec Singapore, a prime piece of downtown real estate.
Senior pastor Kong Hee broke the news first at CHC's service at its Jurong West building, then later at another service at the Singapore Expo in Changi.
He said CHC had acquired a 'substantial stake in a consortium company that owns 80 per cent of a joint venture fund that owns Suntec Singapore'.
The complex's full name is Suntec Singapore International Convention and Exhibition Centre.
The $310 million includes the cost of acquiring shares in the consortium, rental costs, renovation costs and others.
Suntec Singapore was acquired by ARA Asset Management through the ARA Harmony Fund last year, with its investors comprising Suntec Reit - which holds 20 per cent - and a consortium company which holds 80 per cent.
-
obviously CHC is a commercial private limited company now.. whats next? IPO? bond issues? overseas venture?
money to them is never a problem.. what they trying to mean by acquiring a substantial stake? to generate profits/ revenue? -
with 10% of the salary of 33,000 members, they can acquire more commercial lands in future. what will become of singapore ? is a worrying trend.
-
quite a worrying trend that churches making foray into properties business
perhaps they cannot conquer the civic organisations but conquer the economic power, then threaten to cripple the economy if we all dont convert?
-
Oh oh, can other religion groups hold conference, forums at Suntec ????
CHC conquering Singapore bit by bit. Soon whole of Singapore belongs to CHC. Beware of the Hee Kong and his people.
-
Originally posted by laurence82:
quite a worrying trend that churches making foray into properties business
perhaps they cannot conquer the civic organisations but conquer the economic power, then threaten to cripple the economy if we all dont convert?
They hardly can conquer many souls to their religions, now focus on conquering buildings.
-
why church wants to be part of suntec?
-
For a pastor he is far too ambitious. May want conquer the whole world if he can.
-
Originally posted by Fairyfairy86:
with 10% of the salary of 33,000 members, they can acquire more commercial lands in future. what will become of singapore ? is a worrying trend.
so there are 33,000 mindless goons making one pastor really farking rich.................
anyway, the Suntec management is smart.............commercial property is gonna be in the dumps in the future so they offload some of their stake on this clown............
when City Harvest gets too big...........you can bet your last dollar the GOVT will come in and deal with them...........another Durai case lor.............
-
Originally posted by Dondontan:
For a pastor he is far too ambitious. May want conquer the whole world if he can.
heck, the pastor would have God's throne if he could...................but too bad, God don't exist and the pastor knows it...........
-
Originally posted by As romanista2001:
heck, the pastor would have God's throne if he could...................but too bad, God don't exist and the pastor knows it...........
Pastors and priests all over believe in the existence of God.This hee kong pastor has crossed boundary. He is not happy just being a pastor , now want to conquer commercial world.
Fair fair man hee kong. I no good impression of him.
-
Originally posted by Fairyfairy86:
with 10% of the salary of 33,000 members, they can acquire more commercial lands in future. what will become of singapore ? is a worrying trend.
CHC is not the only mega church in S'pore and mega churches usually have many very rich business leaders as members. Pastors of mega churches can earn up to half mil per annum. Such churches are like corporations.
-
So Suntec City is now considered a religious building?
-
No more non christian religious gathering in Suntec City.
-
the fountain will be demolished for one thing, since its about fengshui
-
As long as it aint vivocity, I aint complaining.
-
Before they remove, I would like to touch the fountain water again. Suntec City was built based on fengshui not just the fountain. Why would hee kong wants to buy Suntec?
Fengshui is unchristianlike practice to the Christians (in general).
-
He wants to buy suntec, so he can have that fountain removed?
-
There is another church in Suntec
New Creation Church, another mega church.
Could be he want to conquer New Creation Church.
-
this clown pretend to be Christian one lah................so can be pastor becoz he knows the huge huge huge monetary rewards that will be coming..............
-
Originally posted by laurence82:
the fountain will be demolished for one thing, since its about fengshui
don't worry, they won't remove anything that will bring in $. they believe in anything that will bring in $$$. may be they will demolish and build a bigger fountain. meaning more $$$. -
So he bought suntec to ensure their removal. Fengshui fountain is a bonus.
-
hee kong so ambitious, does he has intention to take over Lee Kuan Yew?
-
Originally posted by ditzy:
As long as it aint vivocity, I aint complaining.
Cannot move to vivocity. Either sinful to be so near casino or can cause casino feng shui to become suay with too much prayers
-
Can he buy a share in Temasek Holdings first?