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Stamp Duty
No stamp duty is payable on the allotment or holding of our Shares. Stamp duty is payable on the
instrument of transfer of our Shares at the rate of S$0.20 for every S$100 or any part thereof, computed on the
consideration of the transfer, or market value, of our Shares, whichever is higher.
The stamp duty is borne by the purchaser, unless otherwise agreed. No stamp duty is payable if no
instrument of transfer is executed or the instrument of transfer is executed outside Singapore. However, stamp
duty may be payable if the instrument of transfer which is executed outside Singapore is received in
Singapore.
The above stamp duty is not applicable to electronic transfers of the ordinary shares through the CDP
system.
Goods and Services Tax (“GST”)
The sale of the Shares by a GST-registered investor belonging in Singapore through an SGX-ST member
or to another person belonging in Singapore is an exempt sale not subject to GST. Generally, any GST directly
or indirectly incurred by the GST-registered investor in respect of this exempt sale will become an additional
cost to the investor.
Where the Shares are sold by a GST-registered investor to a person belonging outside Singapore, the sale
is generally a taxable sale subject to GST at zero-rate. Any GST incurred by a GST-registered investor in the
making of this taxable supply in the course or furtherance of a business may be recoverable from the
Comptroller of GST.
Services such as brokerage, handling and clearing services rendered by a GST-registered person to an
investor belonging in Singapore in connection with the investor’s purchase, sale or holding of the Shares will
be subject to GST at the current rate of 7.0%. Similar services rendered to an investor belonging outside
Singapore would generally be subject to GST at zero-rate.
Estate Duty
In the 2008 Budget Statement announced on 15 February, 2008, the Minister for Finance of Singapore,
proposed that estate duty be abolished for deaths occurring on and after 15 February, 2008. This proposal has
yet to be promulgated as law.
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