Thanks, snoozee! I thought it was also weird that the rear set back is so "generous". The property agent explained that previous owner bought it from a developer who didn't maximise built-up area to save on development charge. Regardless, as you've suggested, will get hold of building plans and have someone look through.
Assuming PE says extension can be done, I'm expecting new foundation to be needed. But not sure whether to to extend only 1st+2nd storeys to save some cost and time, or extend all 3 storeys.