After the General Elections, LWL (Lee Wei Ling) and LHY (Lee Hsien Yang) agreed to my fresh proposal to transfer 38 Oxley Road to LHY at market value, on condition that LHY and I each donated an amount equivalent to half of that value to charity, to pre-empt any future controversy over compensation or redevelopment proceeds.
I was prepared to transfer 38 Oxley Road to LHY so that he and LWL cou...ld handle the 38 Oxley Road matter as they saw fit between them.
In accordance with our agreement, I donated half of the value of 38 Oxley Road to charity. Although not required under the agreement, I also donated a sum equivalent to the other half of the value of 38 Oxley Road to charity. 38 Oxley Road now wholly belongs to LHY.
This is consistent with the position that I had always held and conveyed to my family: that it is not tenable for the family to retain proceeds from any dealing with 38 Oxley Road, as it would look like the family is opposing acquisition and preservation of the House for monetary reasons. LHY was and continues to be unhappy about my taking this position. So, it would appear, is LWL.
- Excerpt from PM Lee's Statutory Declaration.
I was prepared to transfer 38 Oxley Road to LHY so that he and LWL cou...ld handle the 38 Oxley Road matter as they saw fit between them.
In accordance with our agreement, I donated half of the value of 38 Oxley Road to charity. Although not required under the agreement, I also donated a sum equivalent to the other half of the value of 38 Oxley Road to charity. 38 Oxley Road now wholly belongs to LHY.
This is consistent with the position that I had always held and conveyed to my family: that it is not tenable for the family to retain proceeds from any dealing with 38 Oxley Road, as it would look like the family is opposing acquisition and preservation of the House for monetary reasons. LHY was and continues to be unhappy about my taking this position. So, it would appear, is LWL.
- Excerpt from PM Lee's Statutory Declaration.
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