Financial Planning Central

Court Gives More Time To CAD For Profitable Plots Probe

Written By: Tiang Chuan on July 9, 2011 No Comment

The Subordinate Courts have granted a 4 months extension to the Commerical Affairs Department (CAD) for the probe on landbanking firm Profitable Plots, reports the 09th July 2011 edition of Today (CAD given yet more time for probe). The time extension is to allow CAD to received a ‘crucial’ expert report from an accounting firm.

This is the third time that a time extension have been given to the CAD in the Profitable Plots probe.

Its was revealed that the complaints have risen to 304 from 229 and the amount of investments involved has risen to S$30m from S$23.5m.

The next hearing is scheduled for Nov 8.

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