SINGAPORE - Suntec Singapore International Convention and Exhibition Centre is stressing it is MICE business has usual, following reports that police are investigating financial dealings by executives of one of the island’s biggest churches, City Harvest Church (CHC).
CHC is a key shareholder in the venue’s owning consortium.
In March the CHC paid S$310m for a minority stake in a consortium company that owns 80 per cent of the Suntec’s owner, the ARA Harmony Fund.
The founder of City Harvest Church, Reverend Kong Hee, and 16 staff involved in handling the church’s financial affairs, are being investigated by Singapore’s Commercial Affairs Department (CAD).
City Harvest is one of the largest churches in Singapore, with a congregation of over 30,000 who regularly pack its venues at Jurong West and the Singapore Expo during sermons. Another church, the New Creation Church, already uses the Suntec centre at weekends under a separate agreement.
The S$310m CHC investment includes the cost of acquiring shares in the consortium, rental and renovation costs.
A statement from Suntec Singapore says the agreement with CHC is for use of the Level 6 Convention Halls, The Gallery and The Theatre. The management denies the CHC will influence its convention business.
“Suntec Singapore’s business strategy is to continue to be the premier MICE location in Singapore and the region,” the statement reads. “By evolving our business and increasing our mix of fixed rental we will be in a position to make our revenue model more robust and considerably enhance the returns on the space in the convention centre.”
Suntec insists its “MICE business model remains intact” and recently announced its appointment as an official caterer to the Singapore 2010 Youth Olympics Games where it will serve up to 100,000 meals to international athletes and media.
