An honorable member of the Coffee Shop Has Just Posted the Following:
forum456 
Member
Posts: 184
Reputation:
1 http://www.todayonline.com/singapore...-rail-land-tax
The tribunal said the dominant factor in its analysis was the “true interpretation” of the 1990 POA.
It rejected Singapore’s submission that the wording of the POA expressly provided for the payment of development charges.
If M+S had opted to receive the three parcels — Malaysia did not take up that option but instead opted for parcels of land in Marina South and Ophir-Rochor, for which no development charges were paid — it would have been entitled to carry out the developments specified without having to pay development charges, it ruled.
The tribunal was also of the opinion that in 2008, when then-Singapore Foreign Minister George Yeo sent a letter to his Malaysian counterpart which included valuations of the three parcels with a footnote that M+S would have to bear development charges,
he had “unwittingly misrepresented the effect of the POA”. The Malaysians did not agree that the statements were correct, but did not challenge them, leading Singapore to believe it had accepted that development charges were payable, the tribunal found.
Click here to view the whole thread at www.sammyboy.com.
02-11-2014, 01:10 AM
George Yeo Gave Away 3 Parcels of Land to Msia for Free. Honest Mistake Woh!
