10 Jan '13, 11am

SC Global to pay $5.5m for sales extension

http://www.straitstimes.com/archive/...nsion-20130109 SC Global to pay $5.5m for sales extension Published on Jan 09, 2013 By Magdalen Ng LUXURY developer SC Global Developments has to pay $5.5 million for a six-month extension on the stipulated period for selling The Marq on Paterson Hill. The company, which is in the midst of a privatisation bid, disclosed the impost on Monday in a statement on the status of the bid. SC Global is the first developer to announce that it has to pay such a charge to obtain an extension on the usual seven years for selling all units at a new property. The firm said it had received a letter from the Singapore Land Authority dated Jan 4 stating that the Controller of Residential Property is prepared, in principle, to grant approval for the limited qualifying certificate extension. This would be granted if SC Global paid about $5.5 million by F...

Full article: http://forums.condosingapore.com/showthread.php?p=354179#...

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