On or around 12 December 2024, we, The Edge Singapore Pte Ltd, published and/or caused to be published on The Edge Singapore's website (at https://theedgesingapore.com/ (the "Website") an article entitled "Singapore Mansion Deals Are Increasingly Shrouded in Secrecy" (the "Article").
On or around 12 December 2024, we published and/or caused to be published on the "timeline" of "The Edge Singapore" Facebook page (https://facebook.com/theedgesingapore) a Facebook post with the words "Bloomberg says more people buy homes with trusts, hiding owners' identities" and containing a link to the Article (the "Post").
We recognise that the Article and the Post meant and were understood to mean that Mr K. Shanmugam took advantage of there being no checks and balances or disclosure requirements in selling his property in a non-transparent manner and that Mr Shanmugam wanted to hide his transaction and avoid scrutiny, including about the possibility of money laundering.
We admit and acknowledge that these allegations are false and completely without foundation.
We unreservedly apologise to Mr Shanmugam for the distress and embarrassment that we have caused to him by publishing the Article and the Post.
We have removed the Article and the Post and undertake not to make any allegations or publish any articles and/or posts containing any allegations to the same or similar effect.
