(Reserve List)
Question 1
Can we use an Insurance Guarantee instead of a Bank Guarantee?
Answer 1
An Insurance Guarantee is acceptable if it is issued by an insurance company licensed by the Monetary Authority of Singapore. The terms of Insurance Guarantee shall be as specified for the Bank Guarantee in the Conditions of Tender.
Question 2
If the tendering party consists of a consortium of companies, how shall the Bank/Insurance Guarantee be prepared? Can the Bank/Insurance Guarantee be submitted under one name instead of all the names of the companies forming the consortium?
Answer 2
The tenderer can submit one or more Bank/Insurance Guarantee(s) issued in favour of the
Commissioner of Lands, SLA. However, the names of all the companies forming the consortium must be specified in the Bank/Insurance Guarantee(s) and must be exactly the same as those given in the Form of Tender.
Question 3
How do we make payments for the sale price to the SLA? Are personal or company cheques acceptable?
Answer 3

Tender deposits paid at the time of tender submission shall be in the form of
Cashier's Order(s) made payable to the Commissioner of Lands, SLA; or   *
Bank/Insurance Guarantee(s) issued in favour of the
Commissioner of Lands, SLA and expiring on or after (a date to be determined when the site is launched for sale); or		   *
Combination of two of the abovementioned methods. *
All subsequent payments of the sale price shall be by Cashier's Orders made payable to the
Commissioner of Lands, SLA.
Question 4
Can a public listed company put in a tender which is subject to its shareholders approval if the tender is accepted, ie in compliance with Chapter 10 of the Listing Manual requiring shareholders approval at an EGM if the company is to make a major acquisition?
Answer 4
Tenderers are required to submit firm and unconditional offers for the Land Parcel. Tenders which are subject to confirmation by the tenderers shall be deemed as conditional tenders which are not acceptable. The following should also be noted :-

a) A tender submitted cannot be withdrawn by the tenderer after the date and time for submission of tenders.

b) If a tender is withdrawn after the date and time for submission of tenders, the tender deposit will be forfeited.
Question 5
Can the company undertaking a development on a SLA, URA or HDB sale site which is part of the Government land sales programme, tender for the above land parcel?
Answer 5
Yes.
Question 6
If there is more than one company tendering jointly for a land parcel, how should the tender form be completed?
Answer 6

Where a tender is submitted jointly by 2 or more companies, item 5(B) of the Form of Tender must be completed to reflect the particulars of all the joint tenderers. See example below. If there is insufficient space in the Form of Tender, a separate sheet of paper listing the particulars of the companies jointly tendering for the land parcel should be attached together with the Form of Tender.

Example of how item 5(B) of the Form of Tender must be completed to provide all information on both companies when the tender is submitted jointly by 2 companies, Company A and Company B

5. Particulars of Tenderer

(B)

 Where Company or Firm is tendering        
  Name of Tendering* Company/Firm :   Company A   Company B
  Name of Holding Company+ (if any) :   TZ Co. Pte Ltd   NA
  Address of *Registered Office / Place of Business :   Address of Company A Registered Office   Address of Company B Registered Office
  Registered No. of *Company / Firm :   Registration No. for Company A   Registration No. for Company B
  Correspondence Address :   Correspondence Address of Company A   Correspondence Address of Company B
  Tel No. :   x xxx xxxx   x xxx xxxx
  Fax No. :   x xxx xxxx   x xxx xxxx
  Email address :   xxx@xxx.xxx   xxx@xxx.xxx
  Signature of Authorised Person Signing for and on behalf of * Company / Firm :   Signature of Authorised Person of Company A   Signature of Authorised Person of Company B
  Name of Signatory :   Name of Authorised Person of Company A   Name of Authorised Person of Company B
  Position of Signatory in *Company / Firm :   For example, Director of Company A   For example, Director of Company B
  NRIC No. of Signatory :   xxxxxxxxx   xxxxxxxxx

* Delete whichever is not applicable
+ As defined under Section 5(4) of the Companies Act (Cap 50)

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Question 7
Is there a minimum price for the tender of the Land Parcel ?
Answer 7
Yes, the Land Parcel will not be sold if the highest bid received is too much below its estimated market value. The estimated market value is done on the day the tender closes.
Question 8
Can a company or a person who is debarred by the Standing Committee On Debarment (SCOD), Ministry of Finance, participate in SLA tenders and auctions during the debarment?
Answer 8
Where a company or a person is debarred by SCOD from participating in "all lines of business", the company or the person cannot participate in all public tenders including SLA tenders and auctions during the debarment period.
Question 9
Can a company whose director(s) is debarred by SCOD, participate in SLA tenders and auctions?
Answer 9

The company can participate in SLA tenders and auctions only if -
a)The company was incorporated before (and not after) the effective date of debarment of the director(s); and   *
b)The debarment was not for corruption or rigging.   *
c) The company is not debarred.   *