City Harvest Church increases Suntec Singapore stake

by Cheryl Tay   City Harvest Church has increased its stake in Suntec Singapore to 39.2 percent, according to a report by The Straits Times.

Executive Pastor Aries Zulkarnain said the church increased its effective interest by 19.2 percent last year, from 20 percent in 2010.

Zulkarnain said the church paid S$54 million in 2011 for the additional interest in the Suntec Singapore International Convention and Exhibition Centre (pictured).

City Harvest Church was also said to have previously purchased its initial 20 percent stake in 2010 for just under S$44 million.

Zulkarnain also announced that 96 percent of the S$23.6 million building fund pledged by church-goers has already been collected.

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