No. S 399
Income Tax Act
(Chapter 134)
Income Tax (Exemption of Foreign Income) (No. 2) Order 2010
In exercise of the powers conferred by section 13(12) of the Income Tax Act, the Minister for Finance hereby makes the following Order:
1.  This Order may be cited as the Income Tax (Exemption of Foreign Income) (No. 2) Order 2010.
2.—(1)  Fairbanks Holdings Pte Ltd is hereby granted exemption from tax on the dividends received in Singapore from Sekuriti Pejal Sdn Berhad and Syarikat Kepunyaan Khas Sdn Berhad located in Malaysia, being companies in which Fairbanks Holdings Pte Ltd owns 10% and 20% of the total number of issued ordinary shares, respectively.
(2)  The exemption under sub-paragraph (1) is subject to the terms and conditions specified in the letter of approval dated 15th January 2010 addressed to the tax agent of Fairbanks Holdings Pte Ltd.

Made this 19th day of July 2010.

Permanent Secretary,
Ministry of Finance,
[MF(R)32.16.56 V40; AG/LLRD/SL/134/2010/4 Vol. 1]