Interesting extracts from AIM’s incorporation M & A

(26) To grant pensions or gratuities to any past or serving directors, officers, or employees of the Company or to the relations, connections, or dependents of any such persons, …¬† – “On Monday, in a letter addressed to the media, chairman Chandra Das said AIM’s directors “do not receive directors’ fees or any other benefits”.” (“AIM: What is it all about?“, New Paper, Dec 31)

(39) To transact any lawful business in aid of Singapore in the prosecution of any war or hostilities in which Singapore in engaged.

I can’t find any mention of “PAP”. So, how and why is it that it is called a “PAP-owned company”?

What is a “PAP-owned company”? One that has former PAP MPs as directors and shareholders?

However, I understand that there was a former director who was never a MP? (“Interesting history of AIM Pte Ltd“, Dec 25, TR Emeritus)

“The paid-up capital upon incorporation will be $1 million” –¬† The paid-up capital now is still $2?


About the Author

Leong Sze Hian has served as the president of 4 professional bodies, honorary consul of 2 countries, an alumnus of Harvard University, authored 4 books, quoted over 1500 times in the media , has been a radio talkshow host, a newspaper daily columnist, Wharton Fellow, SEACeM Fellow, columnist for theonlinecitizen and Malaysiakini, executive producer of Ilo Ilo (40 international awards), Hotel Mumbai (associate producer), invited to speak more than 200 times in about 40 countries, CIFA advisory board member, founding advisor to the Financial Planning Associations of 2 countries. He has 3 Masters, 2 Bachelors degrees and 13 professional  qualifications.