Home > News > Regional
Wednesday September 11, 2013 MYT 8:21:00 AM
Wednesday September 11, 2013 MYT 8:22:13 AM
CITY Harvest Church founder Kong Hee and his deputies had looked at worst-case scenarios if pop-singer Ho Yeow Sun’s planned first English album did not do well, defence lawyers said.
This was part of their argument that Kong and the other church members had done their due diligence in making sure that Ho’s album project in the United States was financially viable and potential losses were minimal.
If Ho’s album revenues were only a third of what American producers had projected, the shortfall in the church’s bond investments would only be S$3.4mil (RM8.8mil). This could easily be repaid by Indonesian businessman and church member Wahju Hanafi, whose firm was responsible for the bond repayment, the defence said yesterday.
Kong had also asked for external lawyers and the church’s auditors to vet the various transactions at the heart of the ongoing criminal trial against him and five of his deputies. -The Straits Times / Asia News Network
Copyright © 1995-2013 Star Publications (M) Bhd (Co No 10894-D)