The Singapore, a business publication, apologized to Law and Home Affairs Minister K Shanmugam and Manpower Minister Tan See Leng on Tuesday ( Dec 24 ) for a Bloomberg article that The Edge reproduced on its website.
A POLFA adjustment purchase issued to a number of entities on Monday, titled Singapore Mansion Deals Are Extremely Shrouded in Secrecy, was the subject of the article.
The article addressed Good Class Bungalow ( GCB) transactions in Singapore and contained a number of statements that the government later determined to be false.
The article’s authors, Mr. Shanmugam and Dr. Tan, both mentioned in the article, said they would be issuing Letters of Need to Bloomberg and other outlets that may reproduce the article in its entirety or in part because they felt the piece was libellous and indicated on December 16 that they would do so.  ,
The Edge stated on Tuesday that it was aware that the article it reproduced and the accompanying Facebook post “meant and were understood to mean that ( Mr. Shanmugam/Dr Tan ) wanted to conceal ( their ) transaction( s ) and avoid scrutiny, including about the possibility of money laundering.”
The Facebook post read:” Bloomberg says more people buy homes with trusts, hiding owners ‘ identities” . ,
The Edge acknowledged and acknowledged that the claims are” entirely false and without any basis.”
The ministers were also apologised for the “distress and guilt” that the content and Facebook article caused them.
The Advantage stated,” We have removed the content and the post and commit to not make any claims or submit any content and/or posts containing any claims to the same or similar effects.”
CNA has contacted The Edge, as well as Mr Shanmugam and Dr Tan, for additional comment.