a number of embarrassing facts from its members" with regard to the Suntec investment, saying that the allegation was "furthest from the truth", and later released a notice stating that Charities and foundations often use donor funds to invest and generate sustainable income for their intended causes. On 21 July 2012, the church announced details of its investment in Suntec Singapore. A total of 39.2% shareholding was acquired at a total cost of $97.75 million. Public-listed Suntec REIT holds the other 60.8%. The remaining balance in the projected building fund will be used for costs such as equipment, furniture and fittings, periodical shifting costs (due to other events at the venue), committed rentals, optional rentals and refundable rental deposits. In 2013, it was revealed that the church had undertaken a $50m loan with high interests to finance the acquisition of additional shares, as the building fund had largely been exhausted over the years on venue and equipment rentals, while using the Singapore Expo from 2006-2010. If the church is unable to finance the loan, it may in default lose up to 19.2% of its shareholding as part of the loan agreement. See also Christianity in Singapore References External links 1989 establishments in Singapore Religious organisations based in Singapore Pentecostal churches in Asia Churches in Singapore Evangelical megachurches in Singapore Jurong West Christian organizations established in 1989 Christian denominations established in the 20th century