MP Lee Bee Wah buys unit at upcoming Tee Homes project

[Pufferfish1]

 

 

 

 

 

 

Published on May 12, 2012

 

 

 

 

 

 

 

 

 

 

 

 

By Amanda Tan

 

Member of Parliament Lee Bee Wah has invested in a small apartment in the east.

 

The Nee Soon GRC MP bought a unit at upcoming condominium 91 Marshall for a sale price of $826,000.

 

This was revealed in a Singapore Exchange filing by Tee International, in which she is an independent and non-executive director, on Wednesday.

 

The filing said she was given a 2.4 per cent discount.

 

 

Tee Homes, a wholly owned unit of Tee International, is developing the 30-unit freehold project in Katong.

 

Based on the floor plans, Ms Lee's fourth-floor unit is a 570 sq ft two-bedder. This works out to a price of $1,449 per sq ft.

 

Smaller apartments have become more popular in recent years, given the lower absolute price and a higher rent giving a better yield.

 

The condo is near Dakota MRT station and has only one block offering units ranging from one-bedders to penthouses, which are on the fifth floor.

 

The project is within walking distance of Tanjong Katong Primary School and is near places such as Parkway Parade and East Coast Park.

 

Property agents said 91 Marshall, which is expected to be completed by 2016, is likely to be launched in the middle of this month. The show-flat is not ready yet.

 

Ms Lee, being the interested person in this transaction, abstained from the audit committee's and board's review and approval process in respect of the proposed sale.

 

The audit committee found that the number and terms of the proposed sale are 'fair and reasonable and are not prejudicial to the interests of the company and its minority shareholders'.

 

The board was similarly satisfied.

 

When contacted, Ms Lee declined to comment on the purchase

 

[Bird5011]

So..what is the morale of the story????

[Pufferfish1]

just curious , how many MP stays in HDB.

[Vid]

just curious , how many MP stays in HDB.

 

Not many unless they buy resale. They not qualified to buy new HDB with their $15k/m pay

[Wt_know]

should MND worry for her MM (570sqft) ... hehe

Edited May 12, 2012 by Wt_know

[Scb11980]

i thought uncle khaw caution citizens about shoe box apartments

here MP buy one

 

confused.

[Rickster]

i thought uncle khaw caution citizens about shoe box apartments

here MP buy one

 

confused.

 

I think less than 500 sq ft then can be considered shoe box right?

 

[SimonTan]

Moral of the story is buy the same properties as VIP or MP.

You will get highten and top class security protection.....and the management will be Kilat siao-on to maintain the condo standard cleanliness.

 

[Mockngbrd]

Can reveal how many properties all MPs have?

[Twnll]

MPs and ministers should declare all their assets every year

[Chrispie]

Can reveal how many properties all MPs have?

 

 

many will put under trust.. they will go under radar.

 

[Zniper]

tis MP only noe how threaten her kah kia and make them do all the dirty works plus being the bad guys... during election, act very innocent...

there is one part of yishun wif very high crime rate but wat has she done? install cctv on lift landing areas only? BS la...

[I-LOVE-CARS]

tis MP only noe how threaten her kah kia and make them do all the dirty works plus being the bad guys... during election, act very innocent...

there is one part of yishun wif very high crime rate but wat has she done? install cctv on lift landing areas only? BS la...

 

hmm according to her bio, she was from Bolehland

[Pufferfish1]

finally someone know the reason why i started this info

[Jolie888]

just curious , how many MP stays in HDB.

I don't think LTK, Sylvia Lim, CSM, Pritam et al even live in HDB flats!

[Tigerwoods]

I would like to see the list or book of each P@P MP and the list of non executive directors' positions they holds and the allowances.

That list will make many of your feel how you wish tomorrow is GE2016...