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?

The tenderer can submit one or more Bank/Insurance Guarantee(s) issued in favour of the Urban Redevelopment Authority. 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.

Can a public listed company put in a tender which is subject to its shareholders approval if the tender is accepted; i.e. in compliance with Chapter 10 of the Listing Manual requiring shareholders approval at an EGM if the company is to make a major acquisition?

Tenderers are required to submit firm and unconditional offers for the site. 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A tender submitted cannot be withdrawn by the tenderer after the date and time for submission of tenders.

If a tender is withdrawn after the date and time for submission of tenders, the tender deposit will be forfeited.

Can the company undertaking a development on a URA or HDB sale site which is part of the Government land sales programme, tender for the above site?

Yes

Is there a minimum price for the tender of the Land Parcel?

Yes, the land parcel will not be sold if the highest bid is too much below its estimated market value. The estimated market value is done on the day the tender closes.

Can a company or a person who is debarred by the Standing Committee On Debarment (SCOD), Ministry of Finance, participate in URA tenders and auctions during the debarment?

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 URA tenders and auctions during the debarment period.

Can a company whose director(s) is debarred by SCOD, participate in URA tenders and auctions?

The company can participate in URA tenders and auctions only if :-

the company was incorporated before (and not after) the effective date of debarment of the director(s);

the debarment was not for corruption/rigging; and

the company is not debarred.

Where can we obtain the land price of the surrounding land parcels or other sites?

Such information for all URA sale sites is available in our sales website at http://www.ura.gov.sg/sales/sales_main.html