SINGAPORE - Jurong Country Club (JCC) - earmarked as the site of the future terminus for the Singapore-Kuala Lumpur high-speed rail network (HSR) - has announced its concern over the difference in valuation between its claim for compensation and the amount that the Collector of Land Revenue has put forth.
In a statement on Saturday (Dec 12) afternoon, it revealed that the total claim submitted on Nov 25 was $168 million.
However, it said the Collector had responded on Dec 7 with an award of $89.8 million - a difference of $78.2 million.
The club's statement read: "The club is concerned about the gulf between the two figures and understandably some members have expressed their disappointment."
Jurong Country Club sits on a 67ha plot of land. The Singapore Land Authority had gazetted the acquisition of the plot in May, with the club expected to hand over the land by November 2016.
JCC added that its claim "reflects the true value of the club" and was based on the valuation carried out with assistance from real estate consultancy Knight Frank.
The club plans to take advice before deciding whether to lodge an appeal, and will call an extraordinary general meeting of its members in a few weeks' time.
On Nov 19, JCC had said the Government was going ahead with the compulsory acquisition regardless of whether the HSR project gets derailed, amid talk that it could be shelved.
