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SINGAPORE – The High Court has awarded the ex-wife of a business executive more than half of their matrimonial assets worth $13.8 million, stating that she had prioritised their children over her career.
In his judgment published on Thursday (Dec 19), Judicial Commissioner Tan Puay Boon said in dividing the assets, he also took into consideration the duration of the marriage and the man’s failure to make full disclosure of his income and assets.
Among other things, the man did not submit his income tax statements for his employment in China, as well as supporting documentation of his insurance policies, Chinese bank accounts and overseas investments.
He also took $1.25 million of proceeds from the sale of a property which they had held jointly, but failed to account for the withdrawal.
They have been married for 35 years, and have four adult children. The man and his wife are both 62 years old.
In 2017, she filed for divorce after discovering that her husband had been having an affair.
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