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EHT unitholder KP Poh says he didn't keep US$1.9m from Urban Commons' founders
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Published Wed, Jun 2, 2021 · 08:16 AM
POH Kay Ping, a unitholder of Eagle Hospitality Trust (EHT), has refuted claims by Urban Commons Queensway (UCQ) that he and his company - Poh Altan Resources Company (PARC) - were beneficiaries of funds taken out of an EHT unit.
In response to queries from The Business Times, Mr Poh said the money was transferred to PARC in May 2020 in connection with a "contemplated business transaction".
As the transaction did not proceed by June 2020, Mr Poh said the US$1.9 million was not utilised and the funds were ultimately returned.
