31 Oct '14, 10am

Malaysia wins dispute over development charges for KTM land in Singapore

Malaysia wins dispute over development charges for KTM land in Singapore

: A tribunal has ruled that Singapore must not impose development charges on a parcel of Malaysian Railways (KTM) land which was to be jointly developed by the Republic and Malaysia. Channel News Asia today reported that the Permanent Court of Arbitration in The Hague has ruled in favour of Malaysia’s arguments that no extra land tax was needed to be paid by M+S Pte Ltd -- a joint investment company co-owned by Malaysia's Khazanah Nasional and Singapore's Temasek Holdings -- on three plots of land. The tax dispute arose in September 2010 after Singapore Prime Minister Lee Hsien Loong and Malaysian Prime Minister Datuk Seri Najib Razak announced that the countries had different perspectives relating to the development charges on the Keppel (or Tanjong Pagar), Kranji and Woodlands plots, lands formerly occupied by KTM in Singapore. "Both Singapore and Malaysia are satisfied ...

Full article: http://english.astroawani.com/news/show/malaysia-wins-dis...

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