Monday, September 23, 2013

Transcript of AR Bernard preaching on 21st Sept 2013

The following is the transcript of Dr AR Bernard message preached on 21st September 2013:

Let me uh, speak to you apostolically and from the position of a spiritual advisor [to] Pst Kong, Sun and CHC. This past week, on Monday evening, I had a meeting here in Singapore that was requested by several individuals. I was approached in the spirit of reconciliation, in the spirit of concern for the health and future of CHC. I listened, and I expressed the fact that I too am concerned about the health and future of CHC. I also expressed that I understood where they were coming from in the things that they shared. That meeting was in confidence, and the purpose of the meeting, as it was presented to me, was to follow the pattern of Matthew chapter 18, where it says that if you have an offence with a brother, that you go to them. It was told to me that that first step was taken. And the next step was to bring a witness. So it presented to me for the purpose of, and the spirit of, reconciliation.

I expressed to these individuals that I met with, that 1) I will not be used or manipulated by anyone to further their agenda. At the end of the meeting I also expressed and warned that they should abstain from slander, that they should abstain from gossip, because if they engage in it, then as far as I’m concerned, they destroy their credibility in my eyes, and the credibility of anything that they have to say.

I want you to know that just because I sat down and listened to what they had to say, and told them that I will pray about it and get back to them with next steps, it does not mean in any way that I endorse their agenda, endorse their position, or endorse anything that they’re trying to accomplish.

I listened, as a statesman, and my next step was to sit down and have a wonderful conversation with Pst Kong and Pst Sun.

So. There is a process in place for individuals who really don’t like the way things are going at CHC. And see, I’m from New York, so we’re very confrontational and in your face, so when you come to me, be prepared to put the cards on the table and deal with it. But that’s me.

So I’m telling you what took place this week. And if these individuals are sincere and legitimate, then they will take a next step to arrange a good sit-down meeting in the spirit of reconciliation, and really honour the leadership of this house, Pst Kong and Sun.

So I’ll be back some time at the beginning of next year, and I will have a follow-up announcement, and I will let you know how this all turns out.

*crowd applauds*

When you have an issue with someone, especially with those at leadership, don’t go and talk to other people. Go to the person that you have a problem with. Thank you, I appreciate the three men I got.  I’m serious, if you have a problem, you go and talk to them. You don’t go to other people, and, and in the disguise of, well, could you join me and pray. Because sometimes when we share things to be prayed about, it’s actually gossip in disguise. Turn to your neighbour and say he’s talking about somebody you know.

Scripture is very clear on how issues are supposed to be dealt with in the house of God. And there is an honour and a respect that should come for the leadership who is anointed by God. And even David understood this. In spite of the conflict that he had with Saul, he understood that the man, Saul, was anointed king and he had to respect that and let God take His course in dealing with whatever issues are present.

Let me share a verse of scripture with you. I never walk on this, is this safe?

Let me share a passage of scripture with you. So you’re gonna get 2 sermons tonight. This is the 1st one.

In the book of James chapter 3, verse 1. And I’m reading from the amplified bible and I hope you can put it up on the screen, the amplified bible, because if you don’t have this particular translation, I really want you to see it and get the flavor of it.

It’s a wonderful passage; it speaks about the responsibility of those that would teach others. But the way that it is expressed in the amplified bible is even more specific to the original Greek language and it’s implications. So let’s read it in verse 1.

“Not many of you should become teachers.” And I love the deeper shade of meaning here. “(Self constituted censures and reprovers of others), my brethren, for you know that we teachers will be judged by a higher standard and with greater severity than other people. Thus, we assume the greater accountability and the more condemnation.” By what we do.

V2 “For we all often stumble and fall and offend in many things. And if anyone does not offend in speech [never says the wrong things], he is a fully developed character and a perfect man, able to control his whole body and to curb his entire nature.”

Let us go to verse 17. Verse 17 speaks of the tone and spirit that one should have when engaged in reconciliation, when engaged in dealing with any issues that occur between brothers and sisters in the Lord.

It says this: “But the wisdom from above is first of all pure (undefiled); then it is peace-loving, courteous (considerate, gentle). [It is willing to] yield to reason, full of compassion and good fruits; it is wholehearted and straightforward, impartial and unfeigned (free from doubts, wavering, and insincerity).”

Now, I present those verses to you because that is the spirit in which we resolve any issues between brothers and sisters, between leadership at any level, within the church of Jesus Christ.

You are in a very, very – I’d like to say interesting, but – but you’re in a very interesting place.
Because God did not raise up CHC or bring you this far to leave you. He has a reason, a purpose for your existence, and He raised up an individual, infused that individual with a vision. They became the visionary, and of course, they became the fuel, the energy behind the vision. And when God called Pst Kong and Sun, I have a strong feeling He knew all about them. He knew their strengths, He knew their weaknesses. He knew, over the years, where this ministry would come to. And unlike people, God remains faithful. God is good even when things are bad. God is faithful even when we are unfaithful and make mistakes. So if anyone comes to you and has anything to say about this leadership, or about this ministry, you test to make sure that it is in the spirit of Godly wisdom that has been expressed in the scripture, and that they understand the responsibility that they take upon themselves, and they determine to reprove. Especially those that are in leadership.

God sets boundaries for order. And God is not the author of confusion. He is a God of order. Amen?
 
Now, is that ok that I express this with you guys? Up in the balcony, way up there, are we ok with this? Alright, I have a low tolerance for foolishness, and maybe it’s because I’m getting older, I don’t know. But the bottom-line is issues are to be dealt with upfront, on the table, in the open, and not behind closed doors.

So we will see, maybe folks will get mad at me tonight because of what I just said. Maybe I’ll be attacked.

Maybe I’ll become famous and on the blogs. *crowd laughs* I don’t care. Simple as that. That’s the freedom, the authority that I walk in, in Christ. I don’t claim to be perfect. I have made my mistakes along the way, and if I could do some things differently, oh boy, would I. And if you wanna know the details of my mistakes, ask my wife, but I don’t want you to ask her. But we understand what it is to be committed, to be covenanted, and God is a God of covenant.  Whether it’s between Him and people, or between people and people in the context of serving Him. Amen?

Now, Pst Kong, let me ask you a question. Come, come up here.

*crowd claps as Pst Kong goes on stage*
 
I hope you’ll invite me back to preach after all this, (inaudible).

You’ve been through a lot, and I know that for reasons of the trial, you have to be careful what you say. You have to be careful what you can respond to, what you can’t respond to.

Erm, because it can undermine what the attorneys of the church and the attorneys of all the individuals are trying to accomplish. And I think they’re trying to get you exonerated. I mean, I wouldn’t pay them if they weren’t trying to do that.

But I wanna make sure, because I’m here, I come and go. But I wanna make sure, so I’m asking you this publicly. You’ve had time to reflect. You’ve had time to look back. I know you’re not perfect, so you don’t have to tell me. I know that already. Sun told me already. *crowd laughs*

Don’t worry about it, we have covenant, you won’t get any information from her.

But as you look back, on hindsight, would you say that – I don’t know any other way to put this, so I’ll try to be as nice as I can – would you say that you made some dumb mistakes?

PK: Dumb mistakes? Absolutely.

ARB: Stupid?

PK: Stupid. Doctor Cole would say asinine.

ARB: Asinine, I like that even better. Thanks for reminding me.

Would you say that there were some areas of weakness in leadership, and the decision-making that you made, over time?

PK: Yes, doctor, ya.

ARB: So you’re not pretending to be innocent of being human. You’re not pretending to be innocent of making mistakes and unwise judgments along the way as all leaders (points to himself) do?

PK: Absolutely not.

ARB: I just wanna make sure because I don’t want anyone to, you know, have the impression because you stand up here and share the Word of God continuously – which is really hard to do given circumstances that you’re in, to be consistent with it –  erm, how have you worked those mistakes out in your relationship with the Lord?

PK: Well, doctor I, I, the only way I know how to do it is bring all my problems, my mistakes, my oversight, my sins, in prayer, in repentance, and say Jesus, forgive me, cleanse me, help me never to commit those same mistakes ever again.

ARB: Have you done that?

PK: Doctor, all the time.

ARB: Again and again?

PK: Again and again. Not because I’m guilt conscious in any way, but… yeah, 3 years is a long time to reflect on 20 over years of ministry.

ARB: Yeah, it is. It really is. Now, he is nervous right now because he has no idea what I’m going to ask him.

So I’m gonna leave it there, alright? Because these people love you, they support you. They don’t think you’re perfect, Sun told them too. But when you embrace a leader, you embrace not only his spirituality; you embrace his humanity. They come together in 1 package. And there will always be something you may disagree with, not feel good about. But your commitment to God’s vision, and your love for that person, transcends those weaknesses, those faults. I love you. *hugs Pst Kong for a long time*

*Pst Kong leaves the stage*

Come on, give your pastor a round of applause. *crowd gives standing ovation*

Come on, you can do better than that.

Thank you. You see the big smile on his face when he did that? It’s great when you have people that just love doing what they do for God. Amen?

Some of those times in our church, when the Spirit of God moves in a very specific and special way, I’m careful not to try to compete with that. So what is true at home, is true here. And as I sat there and observed for the first time, as you, the video, I felt that it would be unwise for me to try to build on that by giving you another preaching. I think that inherent in what we shared was a very deep and profound message about unity, about the body of Christ, about the spirit of reconciliation, and how things should be done.

Jesus loves us. And that may seem like a very light and even (some word 29:18) statement, but it is the very basis of our salvation. And the reason why Jesus is going to return to scoop us out of this world in which we live, is not because we’ve been so good. Not because we worship. Not because we prayed. Not because we’ve done anything to deserve His return. What’s going to bring Him back is the same love that brought Him the first time. And it’s that love, that great love, with which He loves us.

Let’s all stand right now, and you need to appreciate the leadership of this house, Pastor Kong Hee and his lovely wife, Sun. *another standing ovation* *Pst Kong and Sun clasp their hands and bow their heads*

Hallelujah!

(blogger's note: my favourite part coming up)
And here’s what I tell people in New York: if you are in a church that you don’t like, and that you have a problem with the church and its leadership, your continued attendance becomes a testimony to your stupidity. 

Because why in the world would you continue to reside in an environment that is deemed by you to be contrary to your spiritual growth and development? Here is a clue for you: Pray and ask God for another church. So you can go to that church *crowd applauds*. So that you can be an asset and not a liability. So that you can flourish in an environment that you’re comfortable with, not an environment that you’re contrary with.

That’s just common sense. And unfortunately, if common sense were so common, more people would have it.

Poon says sorry; pastor asks church to forgive (ST, 27 Jan 2003)

The man who made allegations about City Harvest Church’s support of pastor-singer Ho Yeow Sun’s pop career has apologised publicly.

And in five sermons over the weekend, Ho’s husband, church founder and senior pastor Reverend Kong Hee, asked the congregation to forgive the man.

Two weeks ago, Mr Roland Poon Swee Kay contacted the press to complain about what he said were improper practices by Rev Kong and his wife.

Last Friday, the 53-year-old businessman issued four apologies in The Straits Times, Lianhe Zaobao, Lianhe Wanbao and Shin Min Daily News. A fifth apology appeared in The New Paper last Saturday.

In all, they cost $33,372.06. A source close to Mr Poon said yesterday that the amount was paid by an anonymous donor who knew of the businessman’s financial difficulties.

In the half-page apology in The Straits Times, Mr Poon, a member of the church, said he had fed false information to journalists from Life! and Today via e-mail and telephone conversations.

He also retracted all previous statements he had made regarding Rev Kong, Ho and the church.

Some of his earlier remarks were aired on Channel NewsAsia on Jan 17. This was followed by a Page 1 story in Today on Jan 18, which claimed that some church members had expressed uneasiness over City Harvest’s support of Ho’s pop career.

After reading the report, Ho, 31, who was then in Taiwan, broke down in tears.

In a Life! story published last Monday, she said that she had done nothing wrong.

Her husband also denied Mr Poon’s allegations. Rev Kong said that no church funds had been used for Ho’s pop career promotion, and that it was normal practice for the church to support and celebrate the secular success of its members.

The Chinese press also picked up the story.

Ho, who has been the church’s music pastor since 1993, launched her pop career last year.

Her first album, Sun With Love, sold more than 100,000 copies last year.

She recently launched her second work, Sun*day. All proceeds from both albums are pledged to charity.

She also sang at last Friday’s MTV Asia Awards, and was nominated for Favourite Artiste – Singapore.

As a result of all the news, members of City Harvest, which is in Jurong West, say they have been under a lot of ‘unnecessary’ scrutiny.

UFM 1003 DJ Danny Yeo, 30, for one, said he had been bombarded with phone calls.

‘I tell people that I’m still attending City Harvest and that it takes more than reading headlines and newspapers to make a judgment about the church,’ he said.

Last Friday, Life! also published a response from the City Harvest management board.

The letter reiterated Rev Kong’s stand that no church funds were used to finance Ho’s pop career. It added that there was no hard-selling of her two CDs in the church and no question of a personality cult forming.

That Mr Poon’s retraction in The Straits Times appeared on the same day as the church’s reply has raised some eyebrows among observers.

However, Rev Kong and church board member Chew Eng Han explained yesterday that it was pure coincidence.

The board had already submitted its statement to the newspaper last Wednesday, before the church received a call from Mr Poon later that day.

‘He voluntarily met up with me and a few board members at Fullerton Hotel on Wednesday evening,’ said Mr Chew, 42, a general manager of an American bank.

‘There, he told us he realised his foolishness after reading the positive remarks from other members of the church in the Life! article last Monday.’

He added that Mr Poon’s turn-around came after the businessman telephoned Sri Lanka-based clergyman, Bishop Jebanayagam, for advice last week.

Mr Poon could not be reached for comment and has not been attending service since Jan 18.

A source close to him said that he had met the bishop during the latter’s visits over the past eight years.

Bishop Jebanayagam apparently told him to come clean with City Harvest if he wished to be truthful, and that he would be forgiven.

Together with Mr Chew, Mr Poon drafted the apology last Wednesday night, got it vetted by City Harvest’s lawyers last Thursday and submitted it for publication the same day.

Mr Chew said that Mr Poon also revealed that his quotes to Today were attributed to several church members, including two identified as ‘Mr Png’ and ‘Mr Lee’.

He had contacted The Straits Times variously as ‘Roland Poon’ and ‘Swee Kay’.

Mr Chew said: ‘We have already forgiven him and have also asked him to come back to church next week.’

Rev Kong asked his congregation, which numbers 14,000, during his five weekend services to forgive the businessman.

‘My wife and I have forgiven him and so has the church. We’re not going to single him out and he can remain anonymous. That’s the good thing about being in a big church,’ he said.

Still, he felt that the church’s credibility – especially that of its community service here and in the region – had been unfairly undermined by the episode.

Rev Kong also said his wife remained badly shattered.

He said: ‘All she has been saying since she came back from Taiwan last week for MTV is how all her hard work has been for nothing.

‘Her success, which has been achieved through her own talent and efforts, has been unfairly discredited by the false allegations. 

However, she believes that in time, the truth will dawn.’


(blogger's note: and so it will.)

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?

Friday, September 20, 2013

Second tranche of CHC trial draws to a close (CNA, 20 Sept 2013)

SINGAPORE: The second tranche of the six City Harvest Church leaders’ trial drew to a close on Friday after the lawyers sped through their questioning of the church's former accountant.

Auditor Foong Daw Ching from accounting firm Baker Tilly took the stand for the eighth day.

When re-examined by prosecutor Mavis Chionh, he testified that the use of the church's building fund to pay for the Crossover Project is not right.


Earlier, defence lawyer Andre Maniam -- who represents Serina Wee, one of the six accused -- had raised an email from church staff Wong Foong Ming.

In that email, Miss Wong said that concerts and overseas travel expenses of singer Sun Ho should be charged to the church instead of Ms Ho's management company which is linked to the church.

This is because Ms Ho, who is the wife of church founder and accused person Kong Hee, is part of the Crossover Project -- which serves the church's mission to reach out to the secular world.

Mr Foong had agreed with Mr Maniam's argument.

However, when given the scenario that the church's building fund is meant for the purchase of church property, and asked to clarify his earlier testimony, Mr Foong said monies from the building fund cannot be used to pay for Crossover Project's expenses.

He added that payment should come from the church's general fund.

In addition, he also clarified on the advice given on bonds.

Using the analogy of a doctor, Ms Chionh asked if a doctor can give complete advice if the patient does not reveal all symptoms. Mr Foong said that from his experience, the doctor would not diagnose other problems.

Previously during cross-examination by the defence, the court heard that the accused would seek advice from Mr Foong on Xtron bonds, including the impairment of those bonds.

Xtron, which was Ms Ho's former management company, has close links to the church.

It is one of the few firms alleged by prosecution to be used by the accused as a financial vehicle to commit "round-tripping" through "sham bond investments".

Referring to various emails exchanged among the accused, the prosecutor then asked the witness if he considered it relevant to be given those information.

In particular, that Xtron was only able to redeem S$10 million of the S$31 million bonds by October 2010, according to one estimate.

To this, Mr Foong said to be given this would be "fair information" and that it was something the accused would have to share with him for him to know.

Previously, during defence counsel Kenneth Tan's questioning, Mr Foong agreed that he advised the accused to draft an investment policy and invest in bonds.

On Friday, Mr Foong clarified that he did not initiate investing church funds in bonds and private company bonds -- and that the accused were the ones who brought it up in the first place.

The court also heard of how Mr Foong agreed that not all investments made by charities, including churches, seek to yield profit.

The defence was arguing that these investments may be made to further the church's mission.

Kong and five of his deputies are facing misuse of church funds allegations.

They are said to have used some S$24 million to finance the music career of Ms Ho.

The third tranche of the trial is to start in mid-January 2014 and expected to last for more than six weeks.

The prosecution is expected to wrap up its case in that tranche, with at least five more witnesses expected to testify.



City Harvest trial: Not all church projects are for profit, says defence lawyers (ST, 20 Sept 2013)

Not every investment made by charities such as churches need to yield profit. Sometimes these investments may be to further social objectives. Defence lawyers for the six accused City Harvest leaders said this in court on Friday during an on-going trial.

City Harvest Church founder Kong Hee and five of his deputies are accused of criminal breach of trust. They are alleged to have funnelled $24 million meant for the church's new building into sham bond investments in church-linked firms Firna and Xtron Productions. Prosecutors say City Harvest accounts were then falsified to the tune of $26.6 million so the bonds appeared to have been "redeemed".

Defence lawyers said that in the same way the National Kidney Foundation, for example, invests in dialysis machines even though these depreciate in value, City Harvest invested in its Crossover Project to convert people to Christianity. The Crossover Project Crossover Project started in 2001 with the aim of using co-founder Ho Yeow Sun's secular music to evangelise.

In fact, auditor Foong Daw Ching had no objections to the use of City Harvest funds to finance Ms Ho's music albums as this furthered the church's evangelism mission, claimed Mr Michael Khoo, lawyer for former church investment manager Chew Eng Han. This approval supposedly came in a meeting in 2003 between Mr Foong and church leaders, shortly after a special audit was done following allegations that church funds were improperly used to finance Ms Ho's career. Mr Foong, however, said he could not recall this meeting.

(Editor's note: just 1 question, does this mean the defence is admitting that contrary to the many statements made, CHC funds, including those from the building fund, have been used for Sun Ho's Hollywood career, albeit to further social objectives?

You are a two-faced liar who made us, who defended you so vehemently in the past years look like fools with your outright lies, your polka dotted lies and your half truths.

Worse still, you have torn apart friendships with people whom I hold so dearly.

I am not in denial, and I am not angry anymore.

Regardless of the verdict, I forgive you, cos God knows I have done worse, even if not (yet) to this degree.)




Thursday, September 19, 2013

Auditors wanted related party transactions in CHC financial statements (Today, 20 Sept 2013)

SINGAPORE — Auditors had wanted City Harvest Church to report certain related party transactions in its 2007/08 financial statements, but there was no such disclosure in the end.

Defence lawyer Kannan Ramesh yesterday suggested to Baker Tilly auditor Foong Daw Ching — who was the firm’s managing partner at the time but not in charge of the church’s accounts — that this was done by someone with the capacity to “veto” the initial recommendation.

Baker Tilly had wanted the church to disclose its bond investment in Xtron Productions — which managed the music career of church co-founder Ho Yeow Sun — as a related party transaction in July 2008, when preparing the church’s financial statement for July 2007 to October 2008. As Xtron’s “main activity” was the production of Ms Ho’s music album, and Ms Ho is the wife of church co-founder and accused Kong Hee, the bond investment could potentially be “viewed as for personal gain”. This was according to an email with an attached spreadsheet sent by audit manager Foong Ai Fang to two of the accused who handled church accounts, Serina Wee Gek Yin and Sharon Tan Shao Yuen.
 
Baker Tilly — which audited both Xtron and City Harvest— also wanted the church to disclose payment of a management fee to fund manager AMAC Capital Partners, owned by member Chew Eng Han, one of the accused who has since left the church.

Mr Ramesh, who represents Sharon Tan, suggested that someone must have reversed the auditors’ earlier views by the time the accounts were signed off in March 2009.

Mr Foong replied that he could not comment.

Earlier in the day, Mr Ramesh tried to show that Baker Tilly did not raise a red flag on transactions despite being aware that the church was investing in Xtron, with the funds used for Ms Ho’s career, also known as the Crossover Project. Mr Foong agreed that the auditors would have been paying close attention to the organisations’ cash flow and bond transactions.

Neither did the auditors qualify their opinion — a qualified opinion would suggest an audit restricted in scope or uncertainties underlying assumptions in the financial statements.

Kong, Sharon Tan, Wee, Chew and two others are facing criminal charges of misappropriating S$24 million of church building funds in allegedly sham investments to fund Ms Ho’s career, then “round-tripping” another S$26.6 million to cover up the first amount.

Mr Foong, who has been on the witness stand for a week, began yesterday by telling Senior District Judge See Kee Oon “something from my heart”. He said he was hurt by the defence’s suggestions that he had tried to distance himself from advice given to City Harvest, one of Baker Tilly’s biggest church clients. He was also initially upset to find out that a meeting with accused Tan Ye Peng and John Lam Leng Hung last December — after they had been charged — was recorded, but understood “where they are coming from”. Tan Ye Peng’s lawyer, Mr N Sreenivasan, had revealed this in court on Wednesday when questioning Mr Foong.

The judge barred Mr Foong from continuing his account and directed him to resume giving evidence through the defence’s cross-examination, which continues today.

Ren Ci court case ‘troubled’ City Harvest leaders (Today, 19 Sept 2013)

SINGAPORE — News of former Ren Ci Hospital Chief Executive Ming Yi being hauled to court in July 2008 so troubled the board of City Harvest Church that it held an urgent meeting, and two of the church leaders now facing criminal charges actively sought out auditor Foong Daw Ching for advice.

This emerged in the trial of five City Harvest leaders and a former leader yesterday as the defence tried to show the accused had laid bare the church’s relationship with, and bond investment in, Xtron Productions to Mr Foong of audit firm Baker Tilly. Xtron is an audio-visual services company that also managed the career — also known as the Crossover Project — of church co-founder Kong Hee’s wife, Ms Ho Yeow Sun, from 2003 to 2008.

In a July 19, 2008, BlackBerry message produced in court by accused Tan Ye Peng’s lawyer, Senior Counsel N Sreenivasan, Kong had written: “My church board is very troubled by the recent case with the Renci monk, who was arrested for fraud, corruption and forgery. The board members are having an urgent board meeting this afternoon to discuss how Ernst & Young has implicated Renci.”

The message was addressed to “Brother Foong” but sent to Tan and another individual called “Jacq”. Kong said Tan and another accused, Serina Wee Gek Yin, wanted to meet the auditor as they were “very troubled over two areas in our corporate governance and accounting”.

In the face of multiple emails presented by Mr Sreenivasan yesterday, Mr Foong conceded that he met some of the accused on July 21, Aug 1 and sometime around Aug 12 in 2008.

In the lead-up to the July 2008 meeting, Wee and Tan had sent Mr Foong the bond service agreement with Xtron and a document detailing the church’s relationship with its fund manager, AMAC Capital Partners, and Xtron. The second document included questions such as whether the church would have to write down the bonds — purchased in August 2007 — if Xtron was unable to redeem them on maturity, and whether the transactions were legal.

Mr Foong acknowledged he advised the church on investing its building fund in bonds, but could not recall exactly when the bond discussions took place, and insisted the name “Xtron” did not come up. He had previously testified that he gave general advice and was not the partner in charge of the church’s accounts.

Mr Sreenivasan argued that Tan — who is facing 10 charges of criminal breach of trust and falsification of accounts — acted in good faith on the advice of Mr Foong and lawyers as early as 2008, to ensure transactions at the heart of the trial were done properly.

The prosecution contends the Xtron bonds were a sham and that the accused misappropriated S$24 million of church building funds to fund Ms Ho’s music career.

But Mr Foong had apparently felt the bonds not to be a sham, Mr Sreenivasan revealed in his cross-examination yesterday. They were, at most, “junk bonds” — or high-yield, non-investment grade bonds — Mr Foong had reportedly opined when Tan and another accused, John Lam Leng Hung, went to his office on Dec 28 last year, after the six had been charged.

Asked about this, Mr Foong said the opinion was based on audits of the church and Xtron.

The defence continues to cross-examine Mr Foong today.

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