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A MAN has been ordered to pay his half-sister about $650,000, following a judge's ruling that her late mother's stake in shares given to him were meant to be exchanged for monthly cash payments which were never completed.
The woman, Ms Ng Ai Tee, 45, had sued her half-brother Ng Chee Chuan, who is listed as managing director and majority shareholder of Sin Thai Hin Holdings, a diversified company with interests in property, among other things.
The pair are children of the late Mr Ng Ah Hing, a tycoon who built a fortune from various businesses.
When he died in June 1993, he had assets in Hong Kong, Malaysia and Singapore. Among those assets were 4,688 shares in Sin Thai Hin Trading, now known as Sin Thai Hin Holdings.
His son claimed that 3,913 of those shares were put in a trust for him, but because the old man died intestate, the shares had to be divided among his three wives and nine children, like his other assets.
Madam Yap Yoon Moi, Ms Ng's mother, was one of his wives.
Read the full story in Saturday's edition of The Straits Times.
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