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LETTER TO THE EDITOR

JTC: Purchase offer is consistent with market practice

WE refer to the article "JTC makes early-buyback offer for Jurong Country Club notes" (BT, Aug 26, 2016).

Prior to 2003, Jurong Country Club (JCC) was a proprietary club under Jurong Country Club Limited (JCCL), a wholly owned subsidiary of JTC. In 1993, to raise capital for a new

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