SINGAPORE, May 23 — An independent review, headed by Senior Minister Teo Chee Hean, will be carried out "expeditiously” to look into the rental transactions of the two Ridout Road state properties leased to Law and Home Affairs Minister K Shanmugam and Foreign Affairs Minister Vivian Balakrishnan, Prime Minister Lee Hsien Loong said.

The Prime Minister’s Office (PMO) issued a statement today where Lee said that both ministers had spoken to him to ask for a review "that is independent of the ministries and agencies they supervise”.

The findings will be made public in time for the next parliamentary sitting in July, he added.

"Last week, I asked for reports from the relevant agencies setting out the facts,” he said in the statement. "I have also asked Senior Minister and Coordinating Minister for National Security Teo Chee Hean to review the matter, and establish whether proper processes have been followed, and if there has been any wrongdoing.”

Lee added: "This must be done to ensure that this Government maintains the highest standards of integrity.”

The latest statement came after several Members of Parliament (MPs) flagged concerns from the public and filed parliamentary questions last week about two large colonial bungalows at 26 Ridout Road and 31 Ridout Road, which were rented by Mr Shanmugam in June 2018 and Dr Balakrishnan in October 2019 respectively.

What has happened so far

The issue first arose after opposition Reform Party’s chief Kenneth Jeyaretnam wrote a series of articles in earlier this month questioning whether the ministers were "paying less than the fair market value” for the properties.

Responding to the articles, the Singapore Land Authority (SLA), a statutory board under the Ministry of Law, confirmed that the stated properties were leased to both ministers above the "guide rent” and that the rentals were fully compliant with its procedures.

Last week, several MPs from the ruling People’s Action Party and the opposition Workers’ Party (WP) filed parliamentary questions on the state properties. The MPs noted that many members of the public have asked questions about the bungalows.

WP also urged SLA to release more information about the guide rent for both colonial bungalows before the matter is set to be debated in Parliament in July.

Ridout Road is off Holland Road and near the Dempsey Hill lifestyle and entertainment area.

SLA data showed that the property at 31 Ridout Road has a land area of 136,101 sqf.

Information on the property at 26 Ridout Road could only be found within a lot that included 24 and 31 Ridout Road, with a total land area of 525,171 sqf (48,789 sqm). — TODAY