Picking up from a comment made today about Florence Regency's Audited MCST Fund and the Buyer's reluctance in making a speedy refund - I went to the FR website here and sure enough there is some noise going on over there.
I do not know the specifics of the S&P for FR - but if there is a legal space for the Buyer to query the Audit then it surely has to go through the proper channels, namely ACRA (Accounting & Corporate Regulatory Authority). After all, the audit must be done in accordance with the Singapore Standards on Auditing.
I wonder why they are making such a mountain out of what surely must be a molehill. They are counting every penny...
As for the 50K retention sum; again I do not know if this sum is returned after each individual unit vacates or after the last unit in the estate vacates. Tampines is the former and I got my retention sum (minus accountable deductions) without any bother. Ditto the MCST refund.
Is Logan worried they might not be able to sell the new project due to the cooling measures? It could be a way of clawing money back but put yourself in their shoes, wouldn't they want to create a good impression, more so if this is going to be the first solo project they're going to launch in Singapore?
ReplyDeleteIn FR, the 50K retention sum is returned after each owner handovers the unit to the developer (same as TC).
ReplyDelete