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I want to sell my company (Pte Ltd) and the company owns the property (midview city). The buyer, however, does NOT want to buy the property. How can I sell my company to him? And what can I do to my property? ( if cant sell so quickly?) Pls help
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4 Answers

Dear Naseer,

The only way is to list your property for sale and compromise on the pricing aspect if you wish to get out of the situation fast. I am not familiar with the sale of a company therefore in terms of the legal aspect of selling your company and the asset held under the company name seperately, it will be advisable to check with your legal advisers.

I do have buyers who can consider purchasing unit in Midview City with the right terms and conditions too. Do share more details on the unit available as we move ahead simultaneously perhaps?

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Geryl LIM
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Lee Chun Peng Adnic
Dear Mr Naseer,

One suggestion is to create a company (gst registered if need be), transfer the ownership of the property to the new company. Or Transfer the ownership to your personal name (you will need to pay GST if your company is GST registered).
Still I have to disclaim the above suggestion as it is important that you seek corporate legal adviser on how to do this and if it has any financial implications or current/future legal risk/impact with regards to the property transfer and selling the existing company.

Should you need further clarification, you can contact me at 96722265  . Adnic Read More
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Hi Mr Naseer,

You have read the above suggestions, but it also depends on the type of Company that your company is registered under. The property is an asset that owned wholly by the company. Depending on the structure of the company, you can have different options to dispose of the property. However, the fastest way is to sell it off but it may not be in time for you buyer to buy your company.

Regards,
Joewind Han
 9889 8658 
joewindhan.mcg@gmail.com Read More
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Kevin Chung 莊國賢
There are different approaches. I do have investors looking to buy units in Midview City. If your unit do not have balcony or open terrace, whatsapp me or call me at 96855070  .

Kevin Chung
Senior Division Director
DARE Business Spaces
Knight Frank Read More
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