Thanks for the helpful info Jiayong!

I've called up LTA hotline, but they told me I can't keep a car after deregistering it. Maybe they didn't understand what I was asking exactly..but anyway couldn't get any useful info from them.
You mentioned that it is possible to store the vehicle after deregistering it....can you elaborate on the procedures and things I need to do, cos I can't seem to find this info anywhere (LTA website doesn't say anything about storing a dereg. vehicle)...Thanks again..

Cheers..