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Ex-NMP ordered to pay tycoon $1m

Court finds cinema magnate was underpaid in firm's profit payouts by son of good friend. -ST

Fri, Nov 07, 2008
The Straits Times

By K. C. Vijayan, Law Correspondent

IT WAS an incentive scheme put in place over 26 years ago which gave the top two men in Daikin Airconditioning Singapore (DAS) each a one-third cut of the firm's annual profits.

But just two years after one of them died, the other started getting a smaller and smaller cut of the listed firm's profits as the years went by.

When cinema magnate Goh Eng Wah, who founded theatre chain Eng Wah in the 1950s, finally learnt he was being shortchanged, he sued for his unpaid dues which stretched for a decade from 1992 to 2001.


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