Scb11980 1st Gear March 2, 2012 Share March 2, 2012 Susan Lim sells home at Sentosa Cove for $39mil 2 March 2012 Straits Times EMBATTLED surgeon Susan Lim has sold her sea-facing bungalow in Sentosa Cove for $39 million, a record absolute price for the upmarket enclave. It is believed the home - a plush residence said to have five bedrooms and an entertainment room - was bought by an Indian national from the energy sector. A few months ago, his purchase would have attracted the standard 3 per cent stamp duty, but the measures that came in on Dec 8 imposed an additional 10 per cent duty on foreign home buyers. So the buyer will now have to stump up about $5 million in levies for the privilege of buying Dr Lim's home. Sentosa Cove is the only place where non-permanent resident foreigners can buy landed homes, although transactions still need government approval. Dr Lim's 15,929 sq ft estate in Cove Drive - likely two adjoining plots that had been merged - was priced at $2,448 per sq ft (psf). That is well above auction prices achieved for 12 vacant Sentosa Cove bungalow plots in the southern precinct where Cove Drive is located. Each plot went for between $656 and $1,039 psf in August 2006, or between $5.56 million and $8.15 million each. They do not include the construction costs. But even taking into account these costs, Dr Lim most likely has made a handsome profit from the sale. The Lim sale smashes the old record of $36 million - or $2,403 psf - paid for a 14,983 sq ft bungalow on Paradise Island in the northern part of Sentosa Cove. Mr Shen Bin, a Chinese national and Singapore permanent resident, is believed to have bought the property in May 2010. Mr Shen is said to be the son of billionaire entrepreneur Shen Wenrong, chairman of China-based steel manufacturer Shagang Group. The island experienced tepid sales volumes last year, so this latest mega-deal could revive the sector. Only 79 caveats - 24 for landed and 55 for non-landed homes - with a total value of $737.6 million were lodged with the Urban Redevelopment Authority last year. And there were only 12 new home sales last year, forcing some developers to look towards renting out completed but unsold projects. The lacklustre 2011 followed a better year when 203 caveats - 62 landed and 141 non-landed homes - with a value of $1.7 billion were lodged. With 75 caveats lodged, 2008 was the only year with lower sales volumes than 2011 since caveats started being lodged for Sentosa Cove in 2004. Dr Lim was in the limelight after she took the Singapore Medical Council (SMC), which regulates the medical profession, to court. She had wanted to block an inquiry by a second medical disciplinary committee to look into complaints of overcharging. There were allegations that she charged a member of the Brunei royal family $24.8 million for seven months of treatment and made false representations in invoices rendered to her. The patient died of cancer in 2007. Dr Lim later gave a 50 per cent discount. After losing her case in both the High Court and the Court of Appeal, she has to bear the cost of her own legal fees as well as those of the SMC. In such civil suits the losing party has to pay a part of the winning party's legal charges. This is in addition to the fees Dr Lim has to pay her own lawyers. She will also have to pay costs for both hearings. ↡ Advertisement Link to post Share on other sites More sharing options...
Mustank Hypersonic March 2, 2012 Share March 2, 2012 doctors sure make a lot of marnie!!!! Link to post Share on other sites More sharing options...
Lala81 Hypersonic March 2, 2012 Share March 2, 2012 lol so many doctors living in hdb. newspaper got report or not. lol ST want to report on me waiting for my BTO arrival in 2013? [laugh] Link to post Share on other sites More sharing options...
Tuna_seng Clutched March 2, 2012 Share March 2, 2012 Now you know why Dr Ng Eng Hen, an oncologist, is called Bargain Hen. At S$2 m a year, he is a bargain! Link to post Share on other sites More sharing options...
Tuna_seng Clutched March 2, 2012 Share March 2, 2012 lol so many doctors living in hdb. newspaper got report or not. lol ST want to report on me waiting for my BTO arrival in 2013? [laugh] Depends on what they do lah. Those see you about flu, cough, don't earn so much lah. Link to post Share on other sites More sharing options...
Watwheels Supersonic March 2, 2012 Share March 2, 2012 Excuse me, how can you call this "earn"? Cheat ppl of their money is not fit to be called a doctor. Link to post Share on other sites More sharing options...
Yardo Clutched March 2, 2012 Share March 2, 2012 I hope $$ will not be the main motivation for our new generation who endeavour to read medicine ! Link to post Share on other sites More sharing options...
Tuna_seng Clutched March 2, 2012 Share March 2, 2012 Excuse me, how can you call this "earn"? Cheat ppl of their money is not fit to be called a doctor. I don't think she cheated bro. She gave up all her other patients just to be the Sultan's sister's private doctor. And the fee was agreed upon by both parties and it has been readily paid for 10 years before the Sultan's sister died. Then when she died, the Brunei govt renegaded on the fees for the last year of service. If anything, the Sultan is the cheat. Link to post Share on other sites More sharing options...
Tuna_seng Clutched March 2, 2012 Share March 2, 2012 (edited) I hope $$ will not be the main motivation for our new generation who endeavour to read medicine ! I think your hopes are unrealistic. Do you also hope that the new generation of corporate managers, CEOs, engineers and IT specialists are not mainly motivated by money also? Mainly altruistic to go into their profession of choice? No? Then why should doctors be subject to different values placed upon them? Edited March 2, 2012 by Tuna_seng Link to post Share on other sites More sharing options...
Vectrasonic 2nd Gear March 2, 2012 Share March 2, 2012 Specialist can earn millions. GP lesser but still not bad. My GP drives a ferrari and my wife ex-O&G also drives one Just go to Parkway Health hospitals and u know how much they earn. Many of them also have other biz outside and properties which adds up to their wealth. And in order to "cheat" people, they must have the skills too. Not sure if she did the right thing to charge so much but that's in their agreement. When they cure/treat them, they will be praise but when the patient didn't make it, they will be blame for lousy job. Link to post Share on other sites More sharing options...
Mustank Hypersonic March 2, 2012 Share March 2, 2012 lol so many doctors living in hdb. newspaper got report or not. lol ST want to report on me waiting for my BTO arrival in 2013? [laugh] Bro, you setting up clinic in our new area? i sure come and support!!!!!! i no need mc one. i got way too much leave liao Link to post Share on other sites More sharing options...
Alim 1st Gear March 2, 2012 Share March 2, 2012 Her customers, oops I mean patients are rich mah. Link to post Share on other sites More sharing options...
Blackyv Turbocharged March 2, 2012 Share March 2, 2012 I don't think she cheated bro. She gave up all her other patients just to be the Sultan's sister's private doctor. And the fee was agreed upon by both parties and it has been readily paid for 10 years before the Sultan's sister died. Then when she died, the Brunei govt renegaded on the fees for the last year of service. If anything, the Sultan is the cheat. Wonder how much those doctors who treated the familee members earn?.. Link to post Share on other sites More sharing options...
Changman999 Clutched March 2, 2012 Share March 2, 2012 hehe, even quasi doctors like RadX already earn so much, moreover a top surgeon, so sad I failed my bio for my O levels.... Link to post Share on other sites More sharing options...
Mustank Hypersonic March 2, 2012 Share March 2, 2012 hehe, even quasi doctors like RadX already earn so much, moreover a top surgeon, so sad I failed my bio for my O levels.... is radx a octor or a undertaker? Link to post Share on other sites More sharing options...
Karoon Turbocharged March 2, 2012 Share March 2, 2012 erm... mebbe she bought at $8 mil, on 90% loan..... Link to post Share on other sites More sharing options...
Soya Supersonic March 2, 2012 Share March 2, 2012 is radx a octor or a undertaker? he do both as a package. if he cannot cure, he can bury his mistakes. one stop service. Link to post Share on other sites More sharing options...
Scb11980 1st Gear March 2, 2012 Author Share March 2, 2012 Excuse me, how can you call this "earn"? Cheat ppl of their money is not fit to be called a doctor. not cheating leh willing buyer and willing seller like singapore people willing to screwed, government willing to screw - all happy right ↡ Advertisement Link to post Share on other sites More sharing options...
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