SINGAPORE - SA Tours managing director Kay Swee Pin said in court testimony that her long-time lover, the travel agency's former boss, told her in 2010 that he had decided to make her the sole owner of the firm's parent company by transferring his shares to her.
The case is brought on behalf of Mr Ng, 80, who now has dementia. He moved back with his wife in Johor Baru in 2013 on Madam Kay's suggestion, the court heard. Madam Kay testified that it had always been Mr Ng's intention to have SA Tours and the apartment, his two main assets in Singapore, transferred to her and her daughter to provide for them.As to why the form stated that she paid $1 million for the shares, Madam Kay said she and Mr Ng agreed on it as a"nice round figure".
He said there were mortgages on the apartment and several units at People's Park Complex owned by SA Tours in the time between the form was signed and lodged. When Judicial Commissioner Vincent Hoong asked why she used the term"unencumbered", she replied it was Mr Ng who used the word and she merely followed.