Tag Archives: Straits Times 26 Sep 2014

6 MIND-BOGGLING QUESTIONS ABOUT THE LASTING POWER OF ATTORNEY ANSWERED

The dramatic case of a wealthy widow who handed control of her assets, estimated to be worth $40 million, to a tour guide from China has thrown the Lasting Power of Attorney (LPA) scheme into the spotlight. In the latest turn of events, Madam Chung Khin Chun, 87, has asked the Office of Public Guardian (OPG) to cancel the LPA which she gave Mr Yang Yin in 2012.

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WIDOW IN TUSSLE OVER $40,000,000 WORTH OF ASSETS BREAKS HER SILENCE

MADAM Chung Khin Chun, the wealthy widow at the heart of the saga involving a former China tour guide, has finally broken her silence. The saga has generated considerable public interest since it was first reported on Sept 3. The day before, her niece Hedy Mok forced Mr Yang's wife and two children out of her aunt's sprawling $30 million bungalow in Gerald Crescent, where they had been living for the last year.

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THOUSANDS OF CPF INVESTORS COULD GAIN FROM NEW RULES

Reductions of between 0.2 and 0.3 percentage point will be imposed, depending on the risk profile of the CPFIS funds. This will save CPF members $20 or $30 on a $10,000 investment. The new cap will apply to 233 funds - 90 unit trusts and 143 investment-linked insurance products. About half can meet the cap.

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