"We have recently discovered that the Developer is under liquidation by way of a members' voluntary winding up since 1 February 2023."

Is it important to choose a reliable developer?
Yes, especially for at least the first 10 years. Given that many developers / main contractor provides specific warranties. For example: major defects, water proofing issues etc...

Good to buy from reputable developers in Singapore
Caveat: Please do your research before purchasing!

These developers so far are some of the more well known in Singapore

Another heavy weight developer is UOL & Singapore Land

Another heavyweight 

Good one…

Another familiar face

 

Another Singapore institution: Hong Leong or CDL

 

Not only is the main contractor go bust, their sub-con who had previously issued water proofing warranties also just gone bust!

Extract from an undisclosed Managing Agent’s WhatsApp to their condo Management Council members:-

Hi Council

Another bomb from lawyer on [sub-con] is not in operation already….

Currently, developer, main con and now the ]sub-con] is out of business, is a headache to us….

Once confirmed [sub-con] is out, mcst will have to headache and do any repair works under warranties….

Not so worry about interfloor seepages between unit to unit as the warranty is to the owner and we can only inform them on this scenario and both unit have to rectify amicably since no one to honor warranty…. 

Once lawyer replies us on their findings about [sub/con], I will pop out the question to them on future issue and get their expertise reply on warranties and interfloor warranties.

The residents may have to come out of their own pockets for the repairs…

Letter from MCST appointed lawyer to their MA:-

 

Finally, Banding system to gauge quality of developers, builders rolled out

Source & Credit: