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Proposed Rental Policy for Corporate Marketing Division Properties

This executive meeting decision paper proposes a rental policy and guidelines for properties under the Corporate Marketing Division. It seeks approval from the Chairman and Members of MEM. The proposed policy is based on EDD's Rental Policy and Guidelines with some adjustments. The objective is to ensure standard policies and procedures are used for managing the properties and collecting rental, while avoiding miscommunication among staff.

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Proposed Rental Policy for Corporate Marketing Division Properties

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  1. APPENDIX 5 MANAGEMENT EXECUTIVE MEETING DECISION PAPER NO: /60/2009RENTAL POLICY AND GUIDELINES FOR PROPERTIES UNDER CORPORATE MARKETING DIVISION

  2. OBJECTIVE To seek the approval from the Chairman and Members of MEM on the proposed Rental Policy and Guidelines for Properties under Corporate Marketing Division.

  3. PROPOSED POLICY & GUIDELINES • The proposed policy and guidelines are based on EDD’s Rental Policy and Guidelines adopted by the Corporation in 2008. • The main differences/adjustments are as follows: • Five (5) months rental deposit is required. • Three (3) months advance rental is required. • Six (6) months notice to be given by SEDC to tenant prior • to expiration of tenancy/licensing agreement. • MKT has deliberated the proposed policies and issues with representatives from EDD, CFD, Legal, PRODEV, HRMD and Internal Audit Division on 4th November 2009.

  4. JUSTIFICATION • ensure standard policies and procedures are used to administer the properties under MKT. • ensure effective and efficient management of the properties as well as collection of rental. • avoid miscommunication/confusion among the staff handling the properties.

  5. THANK YOU

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