Simplistic breakdown of the 2 loans

Glory Capital Loan ($45 million) was used to discharge the Galaxy loan ($50 Million). 

The Galaxy loan itself was due to the purchase of 19.2% shares in Suntec Singapore. 

At the time of purchase of Suntec shares in 2012, the total AnB collected was abt $130-150 Million. 

The total shares cost was $97.75 Million.

There was supposed to be enough cash to buy all the shares without any bank loans.
(Because 130 > 97.75) So it has nothing to do with any shortfall in AnB fund collections. 

This reason was only given to induce members to give more to cover the shortfall...which there wasn't any. 

The 2 loans already incurred losses of $13 Million and will incur more front-end costs in future ( additional $13 Million for galaxy loan, NOT YET TAKING INTO ACCOUNT interests for the loan itself). 

Do you continue to give when the Board is not upfront in its dealings?


just to put things into perspective, 
it will take a person earning S$3,000 a month, with AWS, 334 years to earn S$13,000,000.



the thing i don't understand is, why is kong hee's god big enough to pay for JW debt free, 
but somehow not big enough to pay for Suntec debt free, forcing kong to resort to loans with such exorbitant interest payments and front end fees?

did he change god? or did his god get smaller?