Remembering Lee Kuan Yew - Thank you - The nation with you in your final journey - See u in heaven

Remembering Lee Kuan Yew - Thank you - The nation with you in your final journey - See u in heaven
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Thursday, 3 September 2015

Jurong C'try Club members voice compensation concerns, ask if handover date can be postponed

Jurong C'try Club members voice compensation concerns, ask if handover date can be postponed
SINGAPORE - Members of Jurong Country Club (JCC) are concerned that current provisions of the Land Acquisition Act may lead them to being insufficiently compensated.

They are also asking if the handover date for their site can be postponed, "should the political climate in Malaysia lead to a delay or even cancellation of the High Speed Rail project" for which their land is being acquired.
These requests were raised from among 400 members at a dialogue session on Aug 25.
Others present included members of the club's general committee and representatives from the club's appointed valuers, Knight Frank, and lawyers from Rajah & Tann.
"Since the acquisition is not a case of willing buyer, willing seller', members felt strongly that additionally to compensation based on a 'tangible' valuation of Jurong Country Club, the authorities should include compensation for the 'intangible' losses they would be compelled to suffer as a consequence of the compulsory acquisition," the club said in a press release on Wednesday evening.
This includes inconvenience and the demise of the Jurong Country Club brand name which has been developed and highly regarded here and overseas for nearly 40 years, it said.
Based on the Land Acquisition Act, the valuation arrived at may not consider increased value from future use of the land, or any reluctance of the seller to sell, or the urgency of the acquisition, the club noted.
Members at the dialogue also asked about the possibility of postponing the handover date in view of events in Malaysia. Club president Bobby Wee assured members this question will be raised with the Singapore Land Authority (SLA) at their next meeting.
The club's appointed acquisition task force is working with Knight Frank to finalise its valuation of the club and the claim must be submitted to the Collector of Land Revenue by Oct 2.
The SLA has also appointed its own professional valuers to carry out a valuation of the club on its behalf.
The collector will consider the claim submitted by each side before deciding on an amount.
The Straits Times / Business                                 Published on Wednesday, 2 Sept 2015                                                 By Rennie Whang                                                                                                                                                                   Jurong C'try Club members voice compensation concerns, ask if handover date can be postponed
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