Two media veterans sued over $990,000 loan given to their business to promote Mandarin

Mr Chua Chim Kang and Ms Lee Kuan Fung are being sued by a businessman seeking repayment of a $990,000 interest-free loan.

In a separate but related lawsuit, Ms Lee is accused of breaching her fiduciary duties by allegedly siphoning $40,000 from Homing after “orchestrating” a questionable transaction with another firm named Goldciti.Mr Ren was introduced to Mr Chua in September 2015, the businessman’s lawyer, Ms Jasmin Kang, said in her opening statement.

Businessman Ren Xin Wu accused Mr Chua and Ms Lee of breaching an agreement to repay the loan. ST PHOTO: AZMI ATHNI Mr Ren said the loan was due on July 27, 2020, but the pair failed to pay up even though Mr Chua stated on Aug 3, 2020, that he would mortgage his house to repay the loan.On Sept 30, 2020, Homing entered into a purported agreement with Goldciti, a management consultancy firm. It paid out $40,000 to Goldciti under this agreement.

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Two Chinese news veterans sued over S$990,000 'loan' for failed Mandarin language businessChinese businessman Ren Xin Wu is suing Ms Lee Kuan Fung, a former veteran news editor from Singapore Press Holdings, and Mr Chua Chim Kang, the head of Chinese news and current affairs at Mediacorp, over the sum.
Fuente: ChannelNewsAsia - 🏆 6. / 66 Leer más »