PETALING JAYA: An international Arbitral Tribunal has decided that the Malaysia-Singapore joint venture company M+S Pte Ltd need not pay a development charge on the three parcels of former KTM Bhd land in the island republic.
The international tribunal decided that M+S Pte Ltd would not have been liable to pay development charges on the Keppel, Kranji and Woodlands parcels if the said parcels had been vested in M+S Pte Ltd.
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