
'You mattered': Friends mourn Jane Lee, businesswoman who spoke out days before death
In her final posts, Lee claimed that an employee had faked an injury in a bid to file a false compensation claim. The mother of two added that it was a premeditated scheme involving the worker's husband and possibly a law firm.
The posts, written just a day before her death, ended with an emotional message to her staff, friends, and family: "I'm truly sorry that I couldn't find the strength to face this battle on my own."
When The New Paper visited Lee's wake on July 21, the mood was sombre as loved ones gathered to honour Lee's memory. Family members and mourners alike declined to speak to TNP.
Her brother-in-law David Loh posted: "Awful way to start the week with the passing of a family member. May you rest in peace Jane. The Lord will bless and look after Victor and your kids. Till we meet again."
Lee, who was reportedly in her 40s, was the founder of Sumo Salad in Holland Village. In online posts, friends fondly recalled not just the food she served, but her kindness and generosity.
Sumo Well was still open for operations on July 21. TNP PHOTO: ETHEL TSENG
"Thank you for serving us beautiful salads and tea," wrote Max. "During Covid, I remembered how you gave me delivery jobs to make ends meet. All the good things you have done, we will never forget."
Calis Looi, who said she was her best friend of 37 years, posted: "I couldn't believe it. I kept hoping for a reply from you, even a simple emoji would have been enough.
"When May and I visited your wake, it was so painful that I couldn't bring myself to say a proper goodbye. But I promise to send you off properly. Let's meet again in our next life."
Lee's story has struck a chord with many in the business community, particularly fellow SME owners. Ng Keng Guan wrote that he had reached out to Lee after reading her post. "It takes a lot of courage and a great deal of accumulated stress to take such a step.
"Several of our mutual friends who work in the same industry also spoke about the immense pressure they face. Running a business in Singapore is already tough, and when you add family responsibilities and societal stress, it can become overwhelming."
Jeffery Khoo, a Progress Singapore Party (PSP) candidate for Marymount SMC in this year's general election, also paid tribute in a Facebook post: "We have been Facebook friends for many years. She invited me to her shop but regrettably I did not get to meet her in person."
"Her final post before her passing is very disturbing. If found that there is truly a devious scam involved, please come down hard on the perpetrators. The damage done is irreversible."
In response to queries from TNP, police said that the case has been classified as an unnatural death and that investigations are ongoing.
The Ministry of Manpower (MOM) also said it was investigating Lee's allegations about the fraudulent work injury claim.
MOM said it had been in touch with Lee and is working with the insurer to assess the claim.
It added that it would not hesitate to take action against those found abusing the Work Injury Compensation system.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Times
2 hours ago
- Business Times
Ongoing opportunities in private equity secondaries
AFTER three challenging years, participants in private equity (PE) entered 2025 expecting liquidity to return to levels last seen in the 'normal' years before 2020's Covid pause, the 2021 activity spike, and the dramatic slowdown following 2022's inflation and interest rate run-ups. Those hopes have now been dashed by a trade war and ensuing uncertainty. Where does all that leave the outlook for PE secondaries? Secondaries refer to the buying and selling of stakes in existing PE funds to other investors. Some headlines suggest a generational buying opportunity in secondaries, while seasoned industry veterans counsel caution, especially in the short term. Both may be correct. In the very short term, would-be sellers and buyers will rightly pause to assess the impact of a changed outlook. But this is expected only to store up more opportunities for the future. The importance of secondaries as a tool to bridge old-to-new investment horizons is likely to increase due to today's volatility, and there should be a sustainable premium return for those who can provide liquidity. Evidence of robust returns Robust returns in the face of uncertainty have helped to make secondaries one of the fastest-growing and most innovative segments within private markets. Secondaries – and PE as a whole – have demonstrated consistent returns over time, often outperforming public markets by an even more significant margin during periods of economic disruption. PE-owned companies are usually smaller than their public counterparts, with value-creation drivers that are more controllable by ownership and management, and typically less reliant on macroeconomic forces. This may be especially true today with PE-owned companies, especially in the middle market, which are generally less reliant on global markets and supply chains at risk from trade policy. This is also true of the PE industry as a whole, and middle-market PE in particular. The current landscape The PE market has traditionally operated with a somewhat predictable timeline: allocators committed capital to be drawn over three to five years, and realise returns as investments were monetised – primarily through asset sales and dividends, within four to six years after deployment. However, a prolonged drought in exits – exacerbated by macroeconomic conditions and the pandemic aftermath – has distorted this timeline, extending the liquidity horizons of many private market investments made several years prior. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The distribution yield (how much cash an investor receives relative to the current value of their investment) is significantly lower today, averaging 12 per cent, compared to the robust 25 per cent seen in the teens up till 2021. It seems unlikely that 2025 will deviate from the recent trend, at least not in the industry's favour. This extended period of slower distribution timelines puts pressure on both institutional investors (limited partners or LPs) and on fund managers (general partners or GPs), and both may increasingly turn to secondaries as a result. Despite the recent growth, the secondaries market remains an arguably underutilised tool by LPs and GPs alike, with total activity remaining well under 3 per cent of total industrywide asset value. The institutional investor/LP challenge The sustained slowdown in exits will pressure institutional investors as they struggle to commit to new funds while capital is tied up in older allocations. While these investors typically have flexibility and a long horizon, staying put exposes them to dual risks: holding allocations that would likely no longer match their institution's objectives, and forgoing returns from newer vintages. Therein lies a substantial opportunity for secondary funds to provide liquidity, allowing investors to unlock capital from older commitments and reinvest in new opportunities. Allocators are increasingly willing to accept modest but meaningful discounts as the price of this liquidity bridge. But we believe this trend has much further to run. The still relatively low adoption of secondaries sales, combined with sustained pressure on liquidity from more traditional sources, will likely result in increased sales volume at discounted prices in the future. Secondaries buyers should continue to see LP portfolios as a way to access high-quality PE assets at discounts to net asset value (NAV). The fund manager/GP challenge For GPs, the stakes are equally high. The pressure to deliver distributions to LPs is intense, particularly as LPs typically require distributions from earlier investments to commit funds to newer vintages. This demand is especially acute for middle-market funds, which have seen larger competitors, focused on larger companies, and attract a higher proportion of available capital. The economic turbulence experienced since 2020 has also left GPs with many high-quality investments they are not ready to sell yet. Continuation vehicles provide an elegant solution to both issues. GPs arrange these transactions to sell a 'star asset' or collection of assets from a fund to a new 'mini fund', managed by the same GP and capitalised by secondaries investors. Well-structured continuation vehicles are a win-win-win: The original fund investors get an option on early liquidity; new buyers get access to these star assets at a 'discount' in the form of LPs forgoing an auction premium; and GPs get cash back to investors while being able to give their star assets more time to execute their value creation plans. Secondaries funds can enable these win-win-win outcomes by bridging the objectives of the fund investors with those of the manager and can therefore command premium returns. Investment considerations For investors looking to capitalise on the current market opportunity in secondaries, there are several sweet spots that should provide favourable relative returns while effectively managing downside risk: 1. Mid-market focus: The middle market, with mature companies ranging from US$10 million to US$100 million of earnings before interest, taxes, depreciation and amortisation, can offer greater opportunity for operational improvements, more controllable (and local or regional) value-creation drivers, and a more resilient range of exit options, as it is typically less reliant on large-cap strategics and the initial public offering market. The middle market is also where LPs may feel the greatest need to rationalise their old positions, and where GPs will come under the most pressure, given the fundraising advantages of large aggregators. 2. Quality investments: It is essential to target funds that are nearing the end of their investment periods but have not aged excessively. The ongoing depressed exit environment means that many high-quality assets remain in more recent PE vintage portfolios. But older (nine or more years) vintages will usually be characterised by a disproportionate number of deals that did not work (and might not sell in any market). In an uncertain environment, manager and asset quality will be of paramount importance. 3. Diversification: Diversification has never been more critical than today, when the winners and losers of the new environment may be hard to predict. By acquiring quality middle-market assets through an approach focused on building diversified portfolios – mainly through the acquisition of LP interests – investors can effectively balance opportunity with risk. 4. Portfolio construction: Experienced secondaries managers are adept at constructing portfolios that offer diversification and a relatively short horizon for capital return. These classic benefits of secondaries investing have typically been best delivered through LP portfolios. Still, good managers also know how to balance these with the right proportion of company-specific, GP-led investments to enhance overall returns without diluting the benefits of diversification and relatively quick return of capital. The ongoing liquidity challenges in PE present an increasing opportunity for secondaries investors. By participating in the market and focusing on the sweet spot – diversified mid-market strategies with experienced managers – investors have the potential to gain access to high-quality assets at favourable prices. Investors made record-high commitments to PE right before Covid-19 and in its aftermath. They now need a bridge to a new horizon. Secondaries investors are positioned to be this bridge, and continue their long track record of consistent premium returns. The writer is managing director and head of capital solutions and US private equity, Northleaf Capital Partners
Business Times
3 hours ago
- Business Times
Employment agency for persons with disabilities – profitable from Year 2 while doing good
[SINGAPORE] Inclus, a recruitment agency specifically for persons with disabilities (PWDs), has been pretty busy in its seven years of operations, scaling and moving into new areas in which it can be of service. Its founders, Shaun Tan, Anders Tan (who are unrelated) and Arudra Vangal, knew from the start, in 2018, that their end-to-end integrated disability employment services outfit would be run on a social enterprise model instead of a purely non-profit one – in other words, they wanted to generate revenue while doing good. Inclus maintains a single bottom line rather than a double or triple bottom line, because its business model and social mission are intertwined. As Shaun Tan put it, the company has never wanted to be in a position of having to choose between the two. The pair, former schoolmates at the Singapore Management University, might have hit on something right, for the business was profitable from Year 2, drawing its revenue through fees from companies looking to hire PWDs. Inclus has placed more than 200 PWDs in roles in sectors, including finance and food and beverage (F&B), since its inception. It is an issue for PWDs to find – and keep – jobs. The Ministry of Social and Family Development's 2024 disability trend report indicated that in 2022/2023, the average employment rate among PWDs aged 15 to 64 was about a third (32.7 per cent), up from 28.2 per cent in 2018/2019. A NEWSLETTER FOR YOU Friday, 2 pm Lifestyle Our picks of the latest dining, travel and leisure options to treat yourself. Sign Up Sign Up Tan said: 'Their high level of unemployment is both a problem and an opportunity to be addressed at the same time.' The rise of artificial intelligence also adds some heat to the problem. Take Michael Ang, a 30-year-old with Down syndrome, but is high-functioning. He works in a restaurant in King Albert Park, and worries that AI would outdo him in productivity and quality of service. 'AI can work more hours and (won't) complain about being tired,' he said. A global survey of 11,000 executives, polled for the Future of Jobs 2025 report, found that 41 per cent of employers plan to downsize their workforce because of AI's potential to replicate job roles. With such findings in mind, Inclus is going beyond matching PWDs to employers willing to take them in – to taking steps to future-proof its job-seeker candidates. It is also helping businesses to tap the potential and benefits of inclusive employment. While Inclus has not leaned towards any industry in particular, it has targeted jobs in administration, logistics and engineering, because PWD placements in these sectors tend to be employer- and industry-driven, said Tan. Even when Covid hit, these industries continued hiring, he said. Technology for good Because some companies view employing PWDs as a box-ticking exercise, a tokenism, Tan said that Inclus 'asks a lot of questions' to ensure that companies are in it for the right reasons. The company is also mindful of its PWD candidates would have to fit in at their workplace. Potential employers, on their part, may expect a PWD's productivity to be on a par with that of other colleagues on the same salary. Recognising that PWD employees 'will take a bit longer to get up to productivity', Tan said Inclus provides training and job support through partnerships with organisations such as SG Enable, the focal agency for disability and inclusion. On the possibility that AI could take over the PWDs' roles in the workplace, Lim Lee Lee, general manager of social enterprise Collective Perspectives, is more sanguine, pointing out that 'AI cannot do all the functions for, or of, a PWD'. She said technology could instead be leveraged to improve lives. This technology could take the form of, for example, AI-powered speech-recognition systems for people with mobility or talking difficulties. 'So instead of viewing AI-powered tools as a threat, we need to embrace and learn to work with them. AI-powered tools are compliments and cannot replace the work entirely.' To prepare the younger generation for an AI future, Inclus is also supporting students with special-education needs through internship placements. In this new area, the company works with institutes of higher learning and specialised secondary schools to arrange for the internships for PWDs aged 17 to their 20s. He added that while Inclus began with adult employment as its focus, the team knew that it had to 'engage them earlier in their lives, when they are (still in school or even) as early as when they get diagnosed'. 'This is so that we work with them as early as possible, with employment and independent living as the end goal.' The company is looking to expand its presence in Asia, and is piloting an after-school care centre in Penang, Malaysia. Tan said: 'The numbers (of PWDs) will not be going away or dropping, and employing (this group) is one of the ways (businesses) can stay relevant in the longer term.' Inclus was one of the 24 companies awarded the DBS Foundation Grant in 2023, and it is using the grant to build a mobile app to scale its outreach.

Straits Times
3 hours ago
- Straits Times
Foreign workers who rescued woman from sinkhole given tokens of appreciation
Find out what's new on ST website and app. Minister of State for Manpower Dinesh Vasu Dash gave the tokens of appreciation to the workers when he visited them at their dormitory on July 27. SINGAPORE – Seven foreign workers who rescued a woman from a sinkhole along Tanjong Katong Road South on July 26 were given tokens of appreciation on the night of July 27. Mr Pitchai Udaiyappan Subbiah, Mr Velmurugan, Mr Saravanan, Mr Veerasekar, Mr Ajithkumar, Mr Chandirasekaran and Mr Rajendran each received a coin from the Ministry of Manpower's Assurance, Care and Engagement (ACE) Group. Minister of State for Manpower Dinesh Vasu Dash gave the Friends of ACE coins to the workers personally when he visited them at their dormitory on July 27, he said in a Facebook video on July 28. The coins, which are presented in red boxes, are similar to certificates of commendation. In April, four construction workers involved in saving children from a River Valley shophouse fire also received these coins for their efforts. A section of Tanjong Katong Road South collapsed at around 5.50pm on July 26 . It caused two lanes of the road to cave in, just adjacent to a PUB worksite. A woman and the black car she was driving fell into the sinkhole when the ground suddenly gave way under the vehicle. The workers, who were at the worksite, pulled the female driver to safety using a nylon rope . Mr Dinesh said in the Facebook video: 'All of them have, in their own ways, leaned forward to support the lady who was in need, and that made a big difference to a situation that would have otherwise been very different.' Top stories Swipe. Select. Stay informed. Asia Thailand, Cambodia agree to 'immediate and unconditional ceasefire' to de-escalate border row Singapore Tanjong Katong sinkhole backfilled; road to be repaved after PUB tests Singapore Ong Beng Seng set to plead guilty on Aug 4 in case linked to ex-transport minister Iswaran Asia Gunman kills 5 security guards near Bangkok's Chatuchak market before taking own life Singapore COE quota up 2.6% to 18,701 for August to October Business Resilient economy versus uncertain outlook splits views on Singapore's monetary policy Singapore HPB looking for vaping, smoking counselling services for up to 175 secondary school students Singapore Jail for former pre-school teacher who tripped toddler repeatedly, causing child to bleed from nose He added that the coins were a small token of appreciation for the workers, who have travelled very far from home to 'not only build Singapore, but also to make sure that when they are required, they step forward and they can help others as well'. Mr Dinesh commended the seven workers for reacting quickly, moving forward to help the driver and stopping traffic to prevent further incidents from taking place. 'Not only do (these migrant workers) work in the worksites and build Singapore – especially in the construction sector, but they also step forward and make themselves counted when it's important for them to do so,' he added. Mr Subbiah, a 46-year-old construction site foreman at Ohin Construction, had told the media that he and his colleagues saw the female driver fall into the sinkhole and wanted to help her as quickly as possible. He noted that one of his colleagues wanted to go down to help her, but Mr Subbiah advised him against doing so as he was worried they would not be able to climb out. He then instructed a group of workers to toss the woman a nylon rope so that they could pull her out. The entire rescue effort lasted three to five minutes. The woman was taken conscious to hospital. On the evening of July 26, the Singapore Civil Defence Force (SCDF) said on Facebook that the driver was rescued by workers before SCDF arrived at the scene. 'We will be reaching out to the workers to commend them for their bravery and prompt action in saving a life,' it added. The Straits Times has contacted SCDF for more information.