(Reuters) - The final of the T100 triathlon world championship will take place in Qatar for the next five years, organisers said on Tuesday.
A Singapore judge said an Australian man’s actions were one of the most brazen attempts to conceal one’s assets in divorce cases the courts had seen. - Photo: ST file
He also awarded the ex-wife 69 per cent of the matrimonial assets of about $10.2 million – which is more than the 50 per cent she had asked for. In the judgement, Judicial Commissioner Faizal said: “The husband has hidden almost the entirety of his assets over the years from view in order to do his best to shoehorn the court from being able to sensibly dispense justice, coming up with a myriad of excuses for why no objective evidence of their value is available, and why therefore, he should be allowed to declare all of these varied assets to be worthless.
The courts approved her application for various documents, such as his income tax statements in Singapore and Australia, the financial statements of companies he owns in various countries, and the value of a family trust held in the man’s name. The man produced only his Australian superannuation account after the discovery application, which has about $38,000.
But the man claimed this group of companies is worth nothing, and again he failed to show any documentary proof to back his claims.Judicial Commissioner Faizal said: “Even on the most charitable reading of the husband’s affidavit in response to the discovery order, it would be impossible not to conclude that the husband was committed to hiding his assets and coming up with farcical reasons of why he was not able to comply with his disclosure obligations.
Judicial Commissioner Faizal used the husband’s shareholding in the Indonesian entity in the group, which works out to be about $10 million, as it was the only meaningful proxy available for his wealth. Besides the matrimonial assets, the couple also fought over other issues such as the child’s custody and maintenance.
Man Brazenly Hid Wealth Ordered To Add S$10 Million Assets To Be Split Ex-Wife
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Singapore Court Jails Duo for US$10 Million Bogus Investment SchemeTwo Malaysian men, Leong Koon Wah and Ng Kuan Chuan, were sentenced to lengthy prison terms for running a fraudulent investment scheme that defrauded over 2,000 investors worldwide of over US$10 million.
Read more »
iMotorbike Secures US$10 Million Series A Funding to Fuel Expansion Across Southeast AsiaiMotorbike, Southeast Asia's leading motorcycle platform for buying and selling pre-owned motorcycles, has secured US$10 million (RM44.6 million) in Series A funding, led by Headline, with participation from Ondine, 500 Global, Gobi Partners, Astor Management, and Endeavor Catalyst. The funding will support iMotorbike's expansion in Malaysia, including new inspection centers and showrooms, as well as workforce growth. The company also plans to establish a new branch in Taiwan.
Read more »
Kenanga Reiterates 'Overweight' Call on Healthcare SectorKenanga Investment Bank Bhd. maintains its 'overweight' stance on the healthcare sector, citing rising affluence and an aging population. The bank points to global private healthcare spending projected to reach US$10 trillion by 2026, growing at a compounded annual growth rate (CAGR) of 3.5%. Kenanga anticipates domestic and international patient numbers to continue expanding, driven by a mix of high-value cases and more acute cases, alongside the addition of new beds.
Read more »
Singaporean Motorists with Unsettled Malaysian Fines to Face Border NotificationStarting from October 1, 2024, Singaporean motorists with outstanding traffic summonses issued by the Royal Malaysia Police (PDRM) will be notified at the border between Singapore and Malaysia. While no action will be taken against these motorists until January 1, 2025, they are urged to settle their fines before the deadline. The Vehicle Entry Permit (VEP) system, which requires Singaporean motorists entering Malaysia to obtain a RFID tag, is being used to track traffic offences committed by foreign-registered vehicles.
Read more »
Don't Press the Fuel Pump's E-Stop Button on Singaporean Cars Using RON 95A recent suggestion on social media to stop Singaporean cars from using subsidized RON 95 fuel in Malaysia by pressing the E-Stop button at petrol stations is not advisable. While the intention is to prevent misuse of government subsidies, this action can disrupt fuel flow for other customers and cause longer delays. It's recommended to politely inform the motorist about the regulations instead.
Read more »
Local composer Lenny Ooi slams Singaporean singer Wang Lei for mocking Malaysian CNY songsSYDNEY (Reuters) - Poland returned to the semi-finals of the United Cup mixed team tournament for a third successive year after hard-fought singles victories in Sydney handed them an unassailable 2-0 lead over Britain on Thursday.
Read more »