Reason why Lee Hsien Yang so angry?

Mr Lee Hsien Yang

Many moons ago the Princess of Oxley said that her brothers were competitive.

So if Hsien Yang tot that Big Brudder screwed him over house, wouldn’t he be angry with tai kor especially as serious money is involved.

Two FB posters put it this way:

You sure know who is a sucker. The money LHY paid to LHL – LHL donated everything to charity. LHL also make LHY give 50% of what he paid LHL to charity. In other words, what goes to charity is 1.5 times the amount of what LHY paid to LHL. So LHL has nothing to gain either way (whether the house is acquired by the state or demolished). On the other hand, if the house is not demolished, LHY would be holding on to a white elephant for which he paid good money to charity. So it is all about $$$

(Note he paid brother $24m (for house) + another $12m to charity.)

And

If you paid market value for a space and later discover that the seller formed a committee to restrict the use of the space that you paid market value for, then I am sure you would feel cheated. So, I must say that not all is about the honour of doing what is right, but some of it is about money.

The issue, legal and moral, is whether big brudder made any misrepresentations to younger brudder that the govt would not block demolition and redevelopment.

If tai kor didn’t, or Sue Fern can’t prove in court or arbitration that he made misrepresentations, Hsien Yang sfould sit down and shut up . He should go cry and bang his balls in private. S’pore is not his playpen. Neither is it Lee Wei Ling’s doll house.

 

Cynical Investor

Cynical Investor blogs at Thoughts of a Cynical Investor.

 

 

 

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18 Responses to “Reason why Lee Hsien Yang so angry?”

  • Amos humiliate L*L and PAP:

    Is that it? Better talk to a lawyer before making further comments. Getting desperate? Your PAP handlers must be pressing you to do more propaganda?

    Be careful. Do not hurt yourself. Better get some sleep if you can. If you cannot sleep because your conscience bothers you get drunk.

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  • nizhemoshou:

    LHL didn’t have to donate the money he got from lhy to charity? So any proof he donated?

    Whereas Lhy will have to prove his donation to Lhl. So no question lhy donated.

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  • billyma:

    2 conclusions on the transaction :
    1. There’s plenty of $$$$ lying around in the Lee family.
    $3 millions just a pinch of salt in the pot of fortune of the Lee.

    2. It shows how a bloody basted lhl is. In lhl mind, if he can’t get the old house all to himself, then nobody must gets it.
    So lhl goes about setting this ‘market rate’ + 50% more.
    It makes lhl very charitable but his real intention is to punish lhy & at the same time get a good stamp of goodness using other people $$$$.

    What a scheming crook

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  • William C:

    This is filial piety. To make sure his father and mother wish to demolish the house is fulfilled, LHY is willing to give away $36,000,000

    Moreover, the amount paid will let his older sister to stay in the house. Filial piety cannot be measured in dollar value.

    Anyway, $36,000,000 is a big or small amount to me, let God be the judge.

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  • Realist:

    LHL was bequeathed the house so why should LHY benefit from it by demolishing it and selling to a developer. LHL gained nothing from the house so why should LHY gain anything ?

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  • Throwing smoke again:

    throwing smoke to cloud over the main issues again, this IB stooge.
    no substance but trying to sway and disperse confusion.
    money the only problem?

    its not only about anger but issues of abuse, governance,dishonesty, cronies appointments, spending our tax resources, our cpf, non transparency, and more, and you only want the readers to focus on a few million dollars?

    eg
    why form a $7million minister committee on a house, when it should the NHB (national heritage board’s role)?

    tsk…tsk…tsk…(finger wagging at IB dog)

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  • PATRIOT of TEMESAK:

    CI, it’s NOT about MONEY STOOPID!!! It’s Principles & Character

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  • KELONG PAP GOV:

    LHL was bequeathed the house so why should LHY benefit from it by demolishing it and selling to a developer. LHL gained nothing from the house so why should LHY gain anything ?

    =======
    YES,

    UNTIL…….

    THE GOV BLOCK IT…………

    UNDER WHO’S INSTRUCTION ?????

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  • fpc:

    actually you are wrong.

    The house was under LHL’s name.

    The others just wanted the house demolished as his fathers’ wish.

    In order to fulfil this, LHL made his brother paid 1.5 times the market value.

    Then get a commission of public servants to reverse his position of not demolishing the house, basically setting his brother up.

    That is not honest.

    Honestly, there is no reason why the government officials want to act against lky’s wish. all leaders get their wish implemented. LKY was the only exception. It runs counter to common sentiment.

    Those dignitaries who dined in lky’s house. almost 90% of them are dead.

    so it makes no sense.

    Also, LHY personal fortune is not affected by whether the state buys the house or not. He is not going bankrupt. By going after his brother, lhy can lose his personal freedom and that monies cannot buy. We all know that.

    LKY’s estate consists of the house which Lhy and LWL has a share. (cos they all got 2/3 in total of the estate).

    if this place is acquired by the state, the state would pay market price, so lhy just lose 50% of the house value. I am certain 1/3 lky’s estate is more than 1.5 times the value of the house. LKY was a lot richer than that.

    His personal fortune is not affected.

    It doesn’t warrant going after LHL who can make lhy leave Singapore and lose more monies.

    it also doesn’t affect lwl and there is no economic reason for her to side lhy.

    she risk big by siding lhy and has nothing to gain.

    the other 50% LHL paid is recent news. This part doesn’t square with lhy’s account.

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  • fpc:

    I am certain 1/3 lky’s estate is more than 1.5 times the value of the house. LKY was a lot richer than that.

    Say lky’s estate is 300 million sgd.

    LHY got 100 million. same as lhl (with the value of the house in the 100 million, else the partition of estate is not equal) and lwl.

    The house say is worth 30 million.

    So LHY paid 30 million to LHL, for the house, which he inherited.

    LHL still got 100 million from the estate at this point.

    LHY has 70 million from the estate + the house at this point.

    Then there was the donation and assuming it takes place Instantaneously.

    then:
    LHL will have 70 million in cash.
    LHY will have 70-15=55 million + house.
    LWL will have 100 million.

    whether lky is demolished or not,
    LWL still has 100 million. So she has no incentives to make noise.

    If LKY house is demolished, then
    LHL still has 70 million.
    LHY will have 55 million + value of the house= 55+30 =85 million.

    So he has less cash than before but still more than lhl.
    Why should he complain?

    If lky is not demolished, then
    LHL still has 70 million.
    LHY will have 55million + house (and the land underneath).

    if LKY house is demolished by LHY and government do nothing.
    LHL still has 70 million from the estate.
    LHY will have 55 million + land value from the house land, which is already factored in, into the market value of the sale.

    LHY won’t gain much. Would it be worth going after the prime minister of Singapore or just invest into another plot of land?

    Let’s not forget, lhy probably gets tax relief from the donation.

    It doesn’t warrant going after LHL who can make lhy leave Singapore and lose more monies. For example, if LHY goes to Australia, he might have to pay estate tax of 30% when he dies. Not worth it.

    it also doesn’t affect lwl and there is no economic reason for her to side lhy.

    she risk big by siding lhy and has nothing to gain.

    the other 50% LHL paid is recent news. This part doesn’t square with lhy’s account.

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  • justacitizen:

    Cynical,
    Let me also speculate as all you cronies did.

    Just as LHY and LWL said, LHL wanted the house preserved and made into a monument so that he can use it as a tool and currency for his political popularity. But he could not do so because LHY ans LWL as the executor of the will decided to comply to LKY decision to tear down the house.

    LHL then tried to sell the house to LHY at market rate add 50% to charity, thinking that LHY might balk at the hugh sum he had to pay and not carry out the transfer of the property. Thus proving that LHY was not genuine in his act of filial piety. As it turn out, LHY was adamant and despite heavy cost to himself took up the offer.

    After having failed in a bid to stopped LHY through a fiscal damaging scheme. LHL then uses the organ of state to continue to stop the siblings from tearing the house down.

    LHY and LWL had from the beginning, decided that they will not profit from the sale of the property after the house is torn down. They had intended to recover their cost and donate the profit of the property to charity. And all along their only intention is to fulfil their father’s last will and testament. Because their father had told them that a monument may be a place of honor but yet also an object of derision to later generation.

    And so LHY and LWL, knowing how their father knew that a monument can be a double edged sword threw their all into stopping the deed and scheme of their once beloved “kor” LHL.
    And the sage continue….

    Of course my speculation, is just as baseless as all the speculations of all your cronies out here in the “Wild Wild West” aka WWW aka cyber space.

    So give me a thumps up if you likey my version of madness.

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  • PINKIE CRIES TERROIST:

    As just then “LEE SAGA” Becomes the talk of the town….It is echoed,in every corner of singapore,from coffee-shop aunties to singapore exchange investors………….

    OUR beloved leadership…unable make this “ISSUSE” DISAPPEAR……THEN LIKE THUNDER WHICH COMES DOWN FROM THE SKY….rather unexpectally 2 aetos police officers are arrested by ISD….They had been arrested quite some time ago,only CHOOSE TO RELEASE this infor after “POST-OXLEY ” Crisis……interesting…

    They also talked about Singaporen radical preacher,according to him he was teacher for mas selmat??? SO THE QUESTION,IS WHY WAS HE ARRESTED BACK THEN….IT seem MUIS also released information he had applied to religious scholar under muis but was rejected…They has stated his teaching are radicalised,as well as his books are banned…SO WHY WAS THIS INFORMATION,,,,ONLY RELESED NOW??? WHY WAS IT WAS NOT RELASED WHEN HE APPLIED FOR “ISLAMIC PREACHER”!!!! …..This indeed something that require more light……OF COURSE….THEY WILL be mostly eldery folk…who will say,they have to bear with LEADERSHIP….AS HE IS FIGHTING TERROIST……AND CHOOSE TO IGNORE THE “ACCUSATIONS” LEVELED AGAINST THE LEADER OF STATE,WHICH INCLUDED ABUSE OF POWER,USING ORGANS OF THE STATE FOR HIS OWN USE,LYING UNDER THE OATH…..

    The people are accusing him are his flesh and blood,his most closest relatives in singapore

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  • talk cock lah:

    No lah nothing to do with money. This is all about power and control and keeping the LKY spirit alive for political objectives. In fact it is not even LHL who is behind this. He is being used by powerful civil servants and Ministers (who are ex civil servants) together with his pillow talk partner in bed.

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  • Who cares even if it is LKY ?:

    Remember in one of the emails, papa is not happy if daughter is going to donate her inheritance to charity. It simply implies that LKY can be very stingy with his money and not really as charitable as what the public thought.

    Hence that demolition clause. It was worded such to override any govt acquisition because he knew that the Govt will pay peanuts for it.

    Well if you think about it, can anyone’s interest override the national interest if the PAP Govt wants to gazette it even if LKY put it into the will ? So the demolition clause as well as LWL right to stay “forever in the house” in the final will will become non-binding effective the moment the Govt plans to acquire the house for any purpose ?

    Now the question is actually whether to acquire or not to acquire ? If acquire, LKY’s children will stand to lose quite a fair bit of their inheritance value unless the PAP Govt pays them a very high compensation value. If don’t acquire, the PAP Govt can be accused of double standards and favouritism over LKY’s legacy ?

    So how ? Very easy just follow what the PAP Govt has been doing all along. Acquire the building and pay them peanuts just like how they treated everyone else. Just have the cake and eat it too, ….. the usual PAP way of doing things of not giving anyone a damn what they think anyway !!!

    Who cares even if it is LKY !!!

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  • Who Won't Be Angry?:

    You sold me your share of the house.

    I paid cash upfront, no one is bothered what you do with the money from the sale of your share, that is your business!

    What I am going to do with the house is my business as I now own it and it is none of anybody’s else business!

    How can the one who sold me the house have the biggest say in what I can do or cannot do with my house?

    Singapore gone lawless?

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  • Chou doufu:

    maybe this kway teow kia long long never eat dog meat liao

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  • Onself-take-care-ownself:

    CI is getting worried that all this is unsettling for his own skin. All his investments and his property are at stake.
    You can now see his true colours. At the end of the day he is a PAP apologist.

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  • Why users still make use of to read news papers when in this technological world
    all is accessible on web?

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