Yes freehold doesn't mean the gomen can't take back. If they need to build LRT they have the right to take back provided they give compensation. For leasehold some say can convert, some say can ask for extension. But then again the extension and conversion aren't guaranteed. What is guaranteed is after 99 years, the government has the final say, not you. And without the need to compensate you if they take it back.

My 2 cents.