Do you know of the Qualifying Certificates Rules set for Developers? When I purchased Bukit Sembawang Estates Limited (Read my previous post), it didn't occur to me that this was a major thing. I heard about it but my overconfidence "stop" me from finding out more. Thus, this was my mistake. Nevertheless, over my course of work, I had to research into this topic and realise THIS IS A BIG ISSUE FOR DEVELOPER COMPANIES LISTED ON SGX! So what is a Qualifying Certificate and its conditions? Any developers with "foreigner" shareholders are required to have a Qualifying Certificate for its developments. Developers solely with Singaporean Shareholders are exempted. Thus, all listed developers are considered to be developer with foreigners and their developments will require a Qualifying Certificate. Developers whom purchase the land from Government (a.k.a Government Land Sales) are also exempted. This is most probably to ......