WHAT THE TRIAL IS ABOUT
Mr Shanmugam and Dr Tan sued Bloomberg and Mr Low for an allegedly defamatory article in December 2024 about Good Class Bungalows (GCBs) titled "Singapore Mansion Deals Are Increasingly Shrouded in Secrecy".
The article mentioned Mr Shanmugam selling his GCB in Astrid Hill for S$88 million (US$69 million) to UBS Trustees when he had bought it for S$7.95 million in 2003. It also referenced Dr Tan buying a GCB in Brizay Park for nearly S$27.3 million.
The ministers alleged that the article had defamed them by suggesting that they had taken advantage of the lack of checks and balances and disclosure requirements in carrying out property transactions in a "non-transparent manner".
So far, Mr Shanmugam has testified that he formed the view from a series of internal Bloomberg emails that he was being targeted.
He claimed the story was presented as an article about a broader trend in GCB transactions but was really meant to justify writing about his property transaction, and that the emails discussed getting a way to get the story out by wrapping it into a broader story.
Bloomberg's defence lawyer has argued that the minister had been told early on that his transaction would be mentioned in the article, and early "drafts" or iterations of the article did not even mention his name.
The Bloomberg article said that more people are buying mansions using trusts to keep their identities private, and that buyers pay a premium for transactions "under the radar".
Mr Shanmugam said this was "utter nonsense" and that a caveat being filed or not does not affect the price agreed on between the buyer and seller.
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