Indonesian businessman covered $14.4m losses from Sun Ho's album

22 May 2013 / 3 years 5 months ago

A new twist was added to the City Harvest trial after court proceedings brought to light that an Indonesian businessman had covered $14.4 million in loses incurred from Sun Ho's album.City Harvest Church had two guarantees to cover any potential losses from its Crossover Project. The first was taken out by Indonesian businessman and church member Wahju Hanafi, who promised to bear any losses arising from pop singer Ho Yeow Sun’s music album production and publicity activities.His guarantee indemnified Xtron Productions, which was managing Ms Ho’s music career then.The second was a personal guarantee by three of the accused ‘“ Kong, Tan Ye Peng and Chew Eng Han ‘“ and Mr Koh Siow Ngea, who later became a director of Xtron.This second guarantee by the four church members was, in prosecutor Christopher Ong’s words, “guaranteeing the guarantee‘ that Mr Wahju took up ‘“ in the event that the latter was unable to fulfil his end of the bargain.The Crossover Project was aimed at converting people to Christianity through the promotion of Ms Ho’s secular pop career.Mr Koh, who took the stand yesterday, testified that he had been asked to sign this document, dated Aug 15, 2007, to “show support‘ for Mr Wahju.It was revealed in court on Monday that at the end of April 2010, Mr Wahju had, reimbursed Xtron $14.4 million for all the past losses incurred in the making of one of Ms Ho’s music albums.Xtron terminated its management contract with Ms Ho in 2008, and Ultimate Assets, a company fully owned by Mr Wahju, took over.

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