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Past version: Effective up to 11 Feb 2021
In addition to the requirements for listing on Catalist, a property development company applying for admission to the Official List must also meet the following requirements:
(1) Minimum Leasehold Period
Properties that have remaining leases of less than 30 years must not, in aggregate, account for more than 50% of the group's operating profits for the past three years.
Properties that have remaining leases of less than 30 years must not, in aggregate, account for more than 50% of the group's operating profits for the past three years.
(2) Independence Of Valuer
A listing applicant must appoint a valuer to conduct a valuation of all its principal freehold and leasehold properties. The valuer must be an independent external valuer. The valuer must not be a substantial shareholder, director or employee of the listing applicant or any of its subsidiaries, or in partnership with or employed by a substantial shareholder, director or employee. The Exchange or the sponsor may require a listing applicant to appoint a second valuer to conduct a valuation on the properties.
A listing applicant must appoint a valuer to conduct a valuation of all its principal freehold and leasehold properties. The valuer must be an independent external valuer. The valuer must not be a substantial shareholder, director or employee of the listing applicant or any of its subsidiaries, or in partnership with or employed by a substantial shareholder, director or employee. The Exchange or the sponsor may require a listing applicant to appoint a second valuer to conduct a valuation on the properties.
(3) Valuation Report
The valuation report must state the effective date at which the properties are valued, which should not be more than six months from the date of submission of the pre-admission notification. A summary valuation report must be included in the offer document. The valuation report must be made available for inspection, without charge, at the issuer's Singapore registered office.
The valuation report must state the effective date at which the properties are valued, which should not be more than six months from the date of submission of the pre-admission notification. A summary valuation report must be included in the offer document. The valuation report must be made available for inspection, without charge, at the issuer's Singapore registered office.