Tag Archives: Straits Times 31 Oct 2014

NO NEED FOR M+S TO PAY DEVELOPMENT CHARGE ON THREE PARCELS OF FORMER RAILWAY LAND, SAYS ARBITRAL TRIBUNAL

An international Arbitral Tribunal has decided that the Malaysia-Singapore joint venture company, M+S, need not pay a development charge on three parcels of former railway land, bringing to a close a dispute between the two countries over the tax. The Foreign Affairs ministries of Singapore and Malaysia announced the news of the award – delivered by the tribunal on Thursday – in a joint statement on Friday.

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