City Havrest raises stake in Suntec Singapore

"City Havrest raises stake in Suntec Singapore
Updated 11:55 PM Jul 21, 2012

SINGAPORE - City Harvest Church has nearly doubled its stake in Suntec Singapore to 39.2 per cent.

The church acquired an additional 19.2 per cent stake for S$54 million last year, said executive pastor Aries Zulkarnain on Saturday during the church's evening service. In 2010, the church had through its subsidiary, Urban Property Investments Limited, acquired 20 per cent of Suntec Singapore International Convention and Exhibition Centre for S$43.75 million.

The balance 60.8 per cent shareholding in Suntec Singapore is held by Suntec Harmony Pte Ltd, a wholly-owned subsidiary of Suntec REIT.

With Suntec embarking on a S$180 million upgrade of the convention centre, which includes creating two levels of retail space, Mr Zulkarnain said the value of the property "is expected to increase". City Harvest Church will be holding its services for "a period of time" at Singapore Expo starting September to facilitate Suntec's upgrading.

The Church had collected S$22,687,651 as part of its Building Fund campaign this year, added Mr Zulkarnain."

This make you wonder how rich can church be.
I not against the religion but I more of feeling that the money is better donate to the poor or build a old age home for the lonely and poor old.

That my opinion.

Dont flame me cause you from that church. This just my opinion.