(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?