Amcorp Faces ABSD Deadline Challenge

Amcorp Global Ltd. (SG:S9B) has released an update.

Amcorp Global Limited has disclosed a potential delay in obtaining the Temporary Occupation Permit for its 35 Gilstead residential development, which may result in missing the Additional Buyer’s Stamp Duty deadline. The company has already provisioned $8.9 million for ABSD in its financial results and plans to cover the $14.3 million duty with internal funds and shareholder advances. An appeal for an extension has been filed with the Inland Revenue Authority of Singapore.

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