Singapore legislation
Regulation 7
Regulation 7
Valuation of immovable property
For the purposes of section 32 of the Act, in respect of a DFHC, the valuation of immovable property is —
(a)
in the case where revaluation gains with respect to immovable property are permitted by the Authority under section 36 of the Act to be included in the computation of the eligible total capital of the FHC group of a predominantly banking DFHC — the sum of —
(i)
the cost of the immovable property; and
(ii)
45% of revaluation gains with respect to the immovable property; and
(b)
in any other case — the cost of the immovable property less revaluation losses and diminution in value with respect to the immovable property, if any.