SINGAPORE: A bankrupt doctor was fined S$43,000 (US$33,600) by a court on Wednesday (Jul 9) for failing to disclose about S$4 million in assets.

Dr Goh Seng Heng, a 70-year-old Singaporean, had omitted to disclose assets including S$1.4 million in shares, as well as about S$1.2 million and US$900,000 owed to him by the Singapore Yacht Charter.

The fine was fully paid by his daughter.

Dr Goh is still an undischarged bankrupt and is listed as a registered doctor on the Singapore Medical Council's website.

He pleaded guilty to eight charges under the Bankruptcy Act for not disclosing his disposal of certain assets, or not disclosing that those assets existed.

WHAT HAPPENED

Dr Goh was a well-known aesthetic doctor. In 2015, a Chinese businesswoman, Wang Xiaopu, launched proceedings against him for alleged fraudulent misrepresentation over the sale of his company's shares to her.

The High Court in March 2023 held that Dr Goh, who founded the PPP Laser Clinic chain, had moved millions in assets to his family members with the intent to defraud his creditors.

Madam Wang obtained a judgment for a full return of her investment, with interest and costs, that amounted to more than S$40 million.

However, Dr Goh did not repay the money and instead voluntarily obtained a bankruptcy order in March 2020.

He was adjudged a bankrupt in March 2020 and the Official Assignee was appointed to administer his affairs in bankruptcy.

Today, he is still an undischarged bankrupt, with a total debt of about S$48 million owed to his creditors as of May 2025.

After his bankruptcy was declared, the Official Assignee wrote to Dr Goh to submit information necessary to make the statement of his affairs complete.

However, Dr Goh made a number of "material omissions".

These include his shares in the Dr Michelle Goh company, disposed of in June 2015, and shares in GSHKML that were disposed of in February 2015, insurance policies disposed of in March 2020 and debts of more than S$2 million owed to Dr Goh by the Singapore Yacht Charter, which were disposed of in September 2017.

Dr Goh did not disclose that he had disposed of 760 shares worth S$306,766.40 to his wife, daughter and two sons for a total consideration of S$4.

He was supposed to have disclosed this, as it was done within five years before the date of his bankruptcy.

He also did not disclose that he had disposed ...