PUBLISHED ONJuly 17, 2026 6:59 AMBYSean LerBloomberg's response that it respects the High Court's ruling while standing by the accuracy of its reporting is difficult to reconcile, Home Affairs Minister K. Shanmugam and Manpower Minister Tan See Leng said in separate statements on Friday (July 17).
Following the judgement, Bloomberg's editor-in-chief John Micklethwait said the news organisation was "very disappointed" by the ruling but will respect the court's decision.
He also maintained that Bloomberg's reporting was "accurate".
“Our newsroom – and our reporter – conducted themselves with integrity, and met all our editorial standards in preparing the story at the centre of this trial. We continue to stand by them,” Micklethwait added.
In their statements, Shanmugam and Dr Tan pointed out that the two positions — of accepting the judgement but insisting that the reporting was accurate — are difficult to reconcile.
"If Bloomberg truly respects the Court’s decision, then it should address the Court’s findings, as any responsible organisation should," the two ministers said in their respective statements.
They added that any action to the contrary will render its professed commitment to accuracy, editorial standards, public integrity and journalistic integrity to "ring hollow".
Shanmugam and Dr Tan also stated that the case is not about press freedom, but rather, whether a news organisation can "maliciously target individuals, publish grave allegations founded on falsehoods, and deny those accused a fair opportunity to respond".
Turning to comments made by Western media outlets, which claimed that the defamation suits have a "chilling effect" on journalism, the ministers pointed out that Singapore's experience suggested otherwise.
"Singapore supports robust journalism and vigorous public debate. But freedom of expression carries responsibilities.
"It does not extend to publishing false and defamatory allegations without basis. That is the principle reaffirmed by the Court in this case," they said.
Both ministers had indicated on July 15 that they will donate the damages to charity.
On December 12, 2024, Bloomberg published an article titled "Singapore mansion deals are increasingly shrouded in secrecy," which referenced transactions involving Good Class Bungalow (GCBs) in Singapore.
Among the transactions highlighted were Dr Tan's non-caveated purchase of a Brizay Park bungalow for about $27.3 million, and Shanmugam's sale of his former Queen Astrid Park home to UBS Trustees for $88 million, both in 2023.
During the trial, the court was shown Bloomberg's internal correspondence from March 12, 2024. In an email, Bloomberg team leader Joyce Koh had emailed Low Da Wei, saying "our favourite minister Shan recently sold his GCB at Queen Astrid".
Low replied that the deal had taken place in 2023 and added that "in the spirit of minister GCB transactions, Manpower Minister Tan See Leng also bought a GCB last year in Bukit Timah".
The pair also discussed how to "wrap" the transactions into a "broader story", according to an email dated March 13.
Justice Audrey Lim wrote in her judgement: "The dominant purpose behind the article was to publish a story about the claimants, in particular about their (GCB) transactions.
"The broader narrative of how wealthy individuals in Singapore use non-caveated transactions and trust structures to keep their dealings secret or 'off-radar' was the cover devised to carry that story."
The judge also found Bloomberg's description of the opacity of local government records relating to non-caveated bungalow transactions to be "reckless and false".
She noted that such records were publicly available through the Singapore Land Authority's Integrated Land Information Service, a fact Low knew because he had used the platform in the course of his reporting.
Justice Lim also pointed out that Bloomberg's action of removing the article's paywall after being issued a correction direction under Singapore's Protection from Online Falsehoods and Manipulation Act "demonstrated malice".
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