Document:

exv10w43

 

Exhibit
10.43

	 	 	 
	Date

	 	15 September 2005
	 
	 	 
	Our Ref

	 	CRC/CDT/LC/MG/DS/TRITI1

PRIVATE & CONFIDENTIAL

Trio-Tech International Pte Ltd

1008 Toa Payoh North

#03-09/18

Toa Payoh Industrial Estate

Singapore 318996

	 	 	 	 	 
	Attention:

	 	Mr Victor Ting	 	 
	 

	 	Chief Financial Officer	 	 
	 
	 	 	 	 
	 

	 	 	 	Manish Gupta
	 

	 	 	 	Telephone No. 6530 3206

Dear Sirs

BANKING ARRANGEMENTS

Standard Chartered Bank (the “Bank”) is pleased to confirm its willingness to continue to make
available to Trio-Tech International Pte Ltd (the “Customer”) the uncommitted banking and
treasury facilities (the “Facilities”) outlined below on the following terms and conditions,
subject to the Bank’s Standard Terms and Conditions, as set out in CRC Form 338-0105 attached
hereto, and to the satisfactory completion of documentation:-

BANKING FACILITIES

	 	 	 	 	 
	 	 	AMOUNT	 	DESCRIPTION AND PRICING
	1)

	 	SGD750,000
	 	Overdraft in Singapore Dollar (SGD) current
account, repayable upon demand, to assist with working
capital requirements.
	 
	 	 	 	 
	 

	 	 	 	Interest at SGD prime plus 0.25% p.a. payable
monthly in arrears to
the debit of the Customer’s SGD current account.
	 
	 	 	 	 
	1a)

	 	(USD200,000)
	 	Overdraft in United States Dollar (USD) current
account, repayable upon demand, to assist with working
capital requirements.
	 
	 	 	 	 
	 

	 	 	 	Interest at USD prime plus 0.25% p.a. payable
monthly in arrears to the debit of the Customer’s USD
current account.
	 
	 	 	 	 
	 

	 	 	 	Condition for limits 1) and 1a):
	 
	 	 	 	 
	 

	 	 	 	In the event that the Bank’s prime rate is lower
than its 1-month cost of funds rate, the Bank
reserves the right to convert the prime rate to its 1-month cost of funds rate.
	 
	 	 	 	 
	1b)

	 	(SGD750,000)
	 	Short term loan in Singapore Dollar (SGD) for
periods of 1, 2 or 3 months.
	 
	 	 	 	 
	 

	 	 	 	Interest at Cost of Funds plus 3% p.a.
	 
	 	 	 	 
	 

	 	 	 	Trio-Tech International Pte Ltd Page 1 of 8

Standard Chartered Bank

Credit Risk Control

Wholesale Banking

1 Tampines Central 5, CPF Tampines Building #03-01

	 	 	 
	Singapore 52950B

	 	Tel +65 6876 0888
	Robinson Road P. O. Box 1901, Singapore 903801

	 	Fax +65 6260 2513

Incorporated in England with limited liability by Royal Charter 1853

The Principal Ollico of the Company is situated in England at 1
Aldarmanbury Square London EC2V 7SB Releronco Number ZC1B

 

 

	 	 	 	 	 	 	 
	 	 	 	 	Note:
	 
	 	 	 	 	 	 
	 

	 	 	 	i)
	 	Interavailability between the short term money market loans and the overdraft facility
is at the sole discretion of the Bank.
	 
	 	 	 	 	 	 
	 

	 	 	 	ii)
	 	The Bank may at any time at its sole discretion suspend the availability of prime-based
funds by reason or circumstances affecting the money market including but not limited to volatile
rate fluctuations or tight liquidity.
	 
	 	 	 	 	 	 
	 

	 	 	 	iii)
	 	Drawings under limits 1) to 1b) are at all times subject to the availability of
funds.
	 
	 	 	 	 	 	 
	 

	 	 	 	iv)
	 	Combined aggregate outstandings under limits 1) to 1b) must not exceed SGD750.000 at any
one time.
	 
	 	 	 	 	 	 
	2)	 	SGD2,000,000	 	For opening irrevocable letters of credit, drafts at sight and/or usance for period up to 120
days, covering the import of electronic test equipment and accessories into Singapore and/or
Malaysia.
	 
	 	 	 	 	 	 
	 	 	 	 	Commission at standard pricing.
	 
	 	 	 	 	 	 
	2a)	 	(SGD1,500,000)	 	Loans against trust receipts and/or acceptance against trust receipts for period up to 120 days,
covering the release of goods imported under and complementary to limit 2).
	 
	 	 	 	 	 	 
	 	 	 	 	Interest at SBFR during the term of each trust receipt.
	 
	 	 	 	 	 	 
	2b)	 	(SGD1,500,000)	 	Shipping guarantees may be issued to secure the release of goods imported under letters of credit
or collection bills routed through the Bank.
	 
	 	 	 	 	 	 
	 	 	 	 	Commission at standard pricing.
	 
	 	 	 	 	 	 
	2c)	 	(SGD1,500,000)	 	For opening irrevocable letters of credit, drafts at sight and/or usance for period up to 120
days, covering the import of electronic test equipment and accessories in favour of Singapore and
Malaysian suppliers.
	 
	 	 	 	 	 	 
	 	 	 	 	Commission at standard pricing.
	 
	 	 	 	 	 	 
	2d)	 	(SGD1,000,000)	 	Loans against imports by way of promissory notes covering collection DA and DP bills for period
up to 120 days, including original usance period. Financing of approved suppliers’ invoices are also
permitted but at the sole discretion of the Bank.
	 
	 	 	 	 	 	 
	 	 	 	 	Commission at 0.25% flat.
	 
	 	 	 	 	 	 
	 	 	 	 	Interest at SBFR during the term of each trust receipt.
	 
	 	 	 	 	 	 
	 	 	 	 	Condition
	 
	 	 	 	 	 	 
	 	 	 	 	Proceeds of invoice financing are to be paid direct to suppliers and not credited to the
Customer’s account.
	 
	 	 	 	 	 	 
	 	 	 	 	Trio-Tech International Pte Lid Page 2 of 8

 

 

	 	 	 
	2e) (SGD1, 500,000)

	 	For issuing customs and other non-shipping guarantees for period not exceeding 12 months, except
for guarantees favouring the following government bodies for the identified purpose which may be
issued for period up to 36 months:
	 
	 	 
	 

	 	a)    Jurong Town Council — Rental Deposit
	 
	 	 
	 

	 	b)    Ministry of Manpower — Security Deposit for foreign workers
	 
	 	 
	 

	 	c)    Utility provider for the Customer — Security Deposit for power supply
	 
	 	 
	 

	 	Counter indemnities are to be held.
	 
	 	 
	 

	 	Commission at standard pricing.
	 
	 	 
	2f) (SGD1,500,000)

	 	For issuing advance payment guarantees / performance bonds / retention bonds for period not
exceeding 12 months.
	 
	 	 
	 

	 	Counter indemnities are to be held.
	 
	 	 
	 

	 	Commission at standard pricing.
	 
	 	 
	2g) (SGD1, 000,000)

	 	For issuing tender bonds For period not exceeding 6 months.

	 
	 	 
	 

	 	Counter indemnities are to be held.

	 
	 	 
	 

	 	Commission at standard pricing.
	 
	 	 
	 

	 	Note:
	 
	 	 
	 

	 	1 .  Combined aggregate outstandings under limits 2) to 2g) must not exceed SGD2,000,000
at any one time.

	 
	 	 
	 

	 	2.   Limits 1 & 2 and Treasury Facilities may at the Bank’s discretion be made
inter-available to Universal (Far East) Pte Ltd subject to the execution of a corporate guarantee
from Trio Tech International Pte Ltd, to be supported by a board resolution. 

	 
	 	 
	3) SGD416,700

	 	Paid down balance of a 3-year term loan to support purchase of equipment for work/ contract with
Advanced Micro Devices.
	 
	 	 
	 

	 	Interest at SGD Prime plus 0.5% p.a.
	 
	 	 
	 

	 	Tenor
	 
	 	 
	 

	 	3 years from date of drawdown
	 
	 	 
	 

	 	 Repayment
	 
	 	 
	 

	 	Repayable in 35 equal monthly instalments of SGD27,777 (excluding interest) and final instalment of
SGD27,805 (excluding interest). Repayment to begin one month after date of first drawdown.
	 
	 	 
	 

	 	Trio-Tech International Pte Ltd Page 3 of 8

 

 

	 	 	 
	 

	 	Prepayment
	 
	 	 
	 

	 	Partial repayment will be applied in inverse order of maturity and may not be redrawn. The
Customer is to give at least 30 days written notice before such repayment is effected.
	 
	 	 
	 

	 	Cancellation Fee
	 
	 	 
	 

	 	A fee of 1% flat on the amount prepaid if full prepayment is made within one year from the date
of first drawdown.
	 
	 	 
	4) SGD2,500,000

	 	A 3-year term loan to support purchase of equipment for work/ contract with Advanced Micro
Devices.
	 
	 	 
	 

	 	Interest at Cost of Funds plus 3.5% p.a.
	 
	 	 
	 

	 	Tenor
	 
	 	 
	 

	 	3 years from date of first drawdown.
	 
	 	 
	 

	 	Drawdown
	 
	 	 
	 

	 	Drawdown in one tranche against documentary confirmation to be presented to the Bank, that
related contract has been awarded. 3 days notice to be given before drawdown. Loan to be fully drawn
by 31 December 2005.
	 
	 	 
	 

	 	Repayment
	 
	 	 
	 

	 	Repayable in 35 equal monthly instalments of SGD70,000 (excluding interest) and final instalment
of SGD50,000 (excluding interest). Repayment to begin one month after date of first drawdown.
	 
	 	 
	 

	 	Prepayment
	 
	 	 
	 

	 	Prepayment penalty at 1.0% and partial repayment will be applied in inverse order of maturity
and may not be redrawn. The Customer is to give at least 30 days written notice before such repayment
is effected.
	 
	 	 
	 

	 	Cancellation Fee 
	 
	 	 
	 

	 	A fee of 1% flat on the amount prepaid if full prepayment is made within one year from the date
of first drawdown or if any portion of the proposed term loan is not drawdown.
	 
	 	 
	 

	 	Commitment Fee
	 
	 	 
	 

	 	A fee of 1% of the undrawn amount up to the availability dale is payable.
	 
	 	 
	 

	 	Trio-Tech International Pte Ltd Page 4 of 8

 

 

TREASURY FACILITIES

Foreign Exchange Facilities

The Bank will be pleased to quote rates for foreign exchange forward transactions up to 120 days.
Quotes for same day or next day settlement can normally be provided subject to the currency
involved and the time of day. Such quotes will always be at the sole discretion of the Bank.

Currency and Interest Rate Risk Management Facilities

The Bank will also be pleased to quote rates for currency and interest rate options and swaps,
including structures customised to meet the Customer’s specific requirements. Interest rate and
cross currency swaps may be transacted for tenors of up to 120 days.

Mandate

Prior to undertaking any transaction with the Bank, the Customer will provide to the Bank a
certified true copy of the Customer’s Board of Director’s Resolution (in the form attached)
together with the Dealing Mandate, duly authorised written instructions which authorise:

	a)	 	named individuals to enter into relevant transactions on behalf of the Customer by
telephone or by any other method acceptable to the Bank; and
	 
	b)	 	named individuals to sign the confirmation and written instructions to the Bank regarding
settlement and payment of transactions,

together with specimen signatures of those persons named under sub-clause (b) above.

The Customer is obliged to keep these instructions current by informing the Bank at the address
specified herein of any changes. The Customer will be responsible for, and the Bank accepts no
liability for, any loss incurred as a result of an individual who purports to be authorised by the
Customer to enter into relevant transactions but who is not actually so authorised.

Documentation

Transactions in currency and interest rate risk management products will be governed by a master
agreement to be entered into before dealings commence. The Bank encourages the use of the ISDA 2002
Master Agreement to govern its foreign exchange transactions with customers and if there is not
already such an agreement in place between the Bank and the Customer, and the Bank considers that
such an agreement is desirable, we will contact you regarding establishing such an agreement. Until
a master agreement is established to apply to foreign exchange transactions, all such transactions
will be subject to the attached Terms and Conditions for Foreign Exchange Business and, by entering
into foreign exchange transactions, the Customer agrees to be bound by such Terms and Conditions
for Foreign Exchange Business.

SECURITY

Security for the above Facilities and for facilities which may be extended by the Bank to the
Customer from lime to time:-

	1)	 	Existing registered charge over fixed deposits of SGD2,000,000 or its equivalent in the
name of the Customer and supported by a board resolution.

Trio-Tech International Pte Ltd Page 5 of 8

 

 

	2)	 	Existing corporate guarantee for SGD2,500,000 executed by Trio-Tech International, United States
of America, supported by a board resolution, held by Standard Chartered Bank, New York.

CONDITIONS

	1)	 	Loans to parent company Trio-Tech International, United States of America (directly and
indirectly) and associated companies must not exceed SGD3,500,000 at all times.
	 
	 	 	These loans are defined as the aggregate of any current and long term, non-trade amounts owing to
the Customer.
	 
	2)	 	The Customer shall maintain a minimum networth of SGD7,000,000 at all times.
	 
	 	 	Networth is defined as the aggregate of paid-up capital and revenue reserves, excluding revaluation
reserves and deducting any loans made to the directors in their personal capacities or to the
parent company, Trio-Tech International, United States of America directly and indirectly or other
related companies and other intangible assets.
	 
	3)	 	Gearing ratio of the Customer shall not exceed 1,0 time at all times.
	 
	 	 	Consolidated gearing ratio is defined as total external debts : networth.
	 
	4)	 	Any dividends to be declared are subject to prior written consent from the Bank which will
not be unreasonably withheld.
	 
	5)	 	The Customer shall submit to the Bank its quarterly management accounts and its operating
subsidiaries including Trio-Tech International (M) Sdn Bhd, Trio-Tech (KL) Sdn Bhd and Trio-Tech
(Bangkok) Co Ltd within 75 days from the end of each period.
	 
	6)	 	The Customer shall submit to the Bank its quarterly lists of stocks and ageing debtors
(trade and non-trade, including related company debts) within 75 days from the end of each period
and stocks shall be subject to periodic inspection by the Bank’s officers.

INTEREST

The Bank’s United States Dollar and Singapore Dollar prime lending rate are currently 6.5% p.a. and
5.75% p.a. respectively and are subject to fluctuation without prior notice but the rate and any
changes thereto are notified in the press and are featured in the Bank’s statements of account and
on notices displayed at the Bank’s branches.

The Bank’s Standard Bills Finance Rate (SBFR) for all Trade Finance related loans is also subject
to fluctuation without prior notice and will be determined by the Bank according to market forces
but the prevailing rate and any changes thereto are featured in the Bank’s Trade Finance statements
and are available on request from our Trade Customer Services Centre. The SBFR for Singapore Dollar
denominated Trade loans is currently 5.75% p.a. and for Foreign Currency Trade loans is the
respective currency’s local inter-bank offer rate or Cost of Funds (i.e. SIBOR) for three months or
such other period as the Bank in its discretion may consider appropriate.

EXCLUSION OF RIGHTS OF THIRD PARTIES

A person who is not a party to this Facility Letter has no right under the Contracts (Rights of
Third Parties) Act (Chapter 53B) to enforce or enjoy the benefit of any terms of the Facility
Letter.

Trio-Tech International Pte Ltd Page 6 of 8

 

 

ACCEPTANCE

This offer will remain open for acceptance for a period of thirty days from the date of this
letter.

To confirm your acceptance of this offer, please return the attached duplicate copy of this letter
duly signed in acceptance together with a certified true extract of the board resolution as per
specimen attached to:

Standard Chartered Bank

Client Relationships

Credit Operations

CPF Tampines Building #03-01

1 Tampines Central 5

Singapore 529508

Attention          : Ms Diana Soh

This Facility Letter supersedes all previous facility letters.

DOCUMENTATION

We enclose a set of documents which should be duly completed and returned to the Bank at the above
mentioned address.

With respect to the Treasury Facilities for Universal (Far East) Pte Ltd, a certified true copy of
the Customer’s Board of Director’s Resolution (in the form attached) together with the Dealing
Mandate (in the form attached) should be duly completed and returned to the Bank at the above
mentioned address.

AVAILABILITY AND REPAYMENT

The above Facilities are subject to periodic review by the Bank at its discretion, and it is
expressly agreed that it will at all times be available at the sole discretion of the Bank.
Notwithstanding any provisions contained in this letter or in any other document, the Bank will at
all times have the right to require immediate payment of all or any part of any sums actually or
contingently owing to it, and the right to immediately terminate or suspend, in whole or in part,
the Facilities and all further utilisation of the Facilities.

We are pleased to make this offer of banking facilities and look forward to receiving your formal
acceptance in due course.

Should you require any assistance pertaining to the completion of documentation, you may contact Ms
Diana Soh at telephone no. 6780 7510.

Yours faithfully

For and on behalf of

Standard Chartered Bank

	 	 	 
	/s/ Manish Gupta
 

Manish Gupta

	 	 
	Vice President
	 	 
	Local Corporates
	 	 

Trio-Tech International Pte Ltd Page 7 of 8

 

 

We confirm the Customer’s acceptance of the Facilities on the terms and conditions outlined in
this letter dated 15 September 2005

	 	 	 
	/s/ Yong Siew wai
 

for and on behalf of Trio-Tech International Pte Ltd

	 	 

	 	 	 
	/s/ Yong Siew wai
 

for and on behalf of Universal (Far East) Pte Ltd

	 	 

Trio-Tech International Pte Ltd Page 8 of 8exv10w44

 

1

Exhibit
10.44

			
	 	 	 
	Please quote our reference when replying
	 	
	Our Ref: JTC(L)	 	 

11 November 2005

	 	 	 
	TRIO-TECH INTERNATIONAL PTE LTD
	 	 
	1008 TOA PAYOH NORTH
	 	 
	#03-09

	 	JTC Corporation
	SINGAPORE(318996)

	 	The JTC Summit
	 

	 	B Jurong Town Hall Road
	(Attention : MRS LEE-SOON SIEW KUAN)

	 	Singapore 609434
	 
	 	 
	 

	 	contact

center hotline 1800 568 7000
	 
	 	 
	 

	 	main line         (65) 6560 0056
	 
	 	 
	Dear Sirs,

	 	facsimile         (65) 6565 5301
	 
	 	 
	OFFER OF TENANCY FOR FLATTED FACTORY SPACE

	 	website           www.jtc.gov.sg

	 	 	 	 	 
	1

	 	(a)
	 	We refer to your application to reserve the Premises using Express Lane
Application Programme (“ELAP”) submitted on 10 November 2005 and accorded
the Application number: A0618407 (“the Application”) which was approved by us on
11 November 2005.
	 
	 	 	 	 

	 	(b)	 	Based on the information provided by you in the Application and on
condition that you have not breached any of the terms set out in the Terms and
Conditions for the use of ELAP, we are pleased to offer a tenancy of the Premises
subject to the covenants, terms and conditions in the annexed Memorandum of Tenancy
No.27.09 (“the MT”) and in this letter (collectively called “the Offer”):

	 	 	 	 	 	 	 
	2

	 	 	2.1	 	 	The Premises:

	 	 	 	Private Lot A0618407 also known as Unit #03-06 /07 (“the Premises”) in
BLK 1004 TOA PAYOH NORTH TOA PAYOH NORTH INDUSTRIAL ESTATE SINGAPORE 318995
(“the Building”) as delineated and edged in red on the plan attached to
the Offer.
	 
	 	2.2	 	Term of Tenancy:
	 
	 	 	 	3 years (“the Term”) with effect from 1 February 2006 (“the
Commencement Date”).
	 
	 	2.3	 	Tenancy:

	 	(a)	 	Your due acceptance of the Offer in accordance with Clause
3 of this letter shall, together with the Offer, constitute a binding tenancy
agreement (“the Tenancy”).
	 
	 	(b)	 	In the event of any inconsistency or conflict between any
covenant, term or condition of this letter and the MT, the relevant covenant,
term or condition in this letter shall prevail.

	 	2.4	 	Area:
	 
	 	 	 	Approximately 181.4 square metres (“the Area”).

	 	 	 	 	 	 	 
	 

	 	
	 	
	 	

 

 

 2

	2.5	 	Rent:

	 	(a)	 	Discounted
rate of $9.45 Dollars per square metre per month on
the Area, for so long as you shall occupy by way of
tenancy an aggregate floor area of 5908.06 square
metres in the Building or in the various flatted
factories belonging to us; and
	 
	 	(b)	 	Normal rate
of Dollars ( $9.95 ) per square metre per month on the
Area, in the event that the said aggregate floor area
occupied is at any time reduced to below 1000 square
metres (when the discount shall be totally withdrawn)
with effect from the date of reduction in the said
aggregate floor area,
	 
	 	(“Rent”) to be paid without demand and in advance without
deduction on the 1st day of each month of the
year (i.e. 1st of January, February, March, etc.). After
your first payment is made in accordance with Clause 3 of
this letter and the attached Payment Table, the next
payment shall be made on 01 March 2006.

	2.6	 	Service Charge:
	 
	 	 	$2.25 per square metre per month (“Service
Charge”) on the Area as charges for services rendered
by us, payable by way of additional and further rent
without demand on the same date and in the same manner as
the Rent, subject to our revision from time to time.

	2.7	 	Security Deposit/Banker’s Guarantee:
	 
	 	 	Ordinarily we would require a tenant to lodge with us a
security deposit equivalent to three (3) months’ rent and
service charge. However, as an off- budget measure and as
payment by GIRO has been made a condition with which you
must comply under clause 3 of this letter, you shall, at
the time of your acceptance of the Offer, be required to
place with us a deposit equivalent to one (1) month’s Rent
and Service Charge (“Security Deposit”) as
security against any breach of the covenants, terms and
conditions in the Tenancy, as follows:

	 	(a)	 	The
Security Deposit may be in the form of cash or
acceptable Banker’s Guarantee in the form attached
(effective from 1 December 2005 to 30 April 2009
), or such other form of security as we may in our
absolute discretion permit or accept.
	 
	 	(b)	 	The
Security Deposit shall be maintained at the same sum
throughout the Term and shall be repayable to you
without interest, or returned to you for
cancellation, after the termination of the Term (by
expiry or otherwise) or expiry of the Banker’s
Guarantee, as the case may be, subject to appropriate
deductions or payment to us for damages or other sums
due under the Tenancy.
	 
	 	(c)	 	If the
Service Charge is increased or any deductions are
made from the Security Deposit, you shall immediately
pay the amount of such increase or make good the
deductions so that the Security Deposit shall at all
times be equal to one (1) month’s Rent (at the normal
or discounted rate, as the case may be) and Service
Charge.

 

 

 3

	 	(d)	 	If at any time during the Term, your GIRO
payment is discontinued, then you shall place with
us, within two (2) weeks of the date of
discontinuance of your GIRO payment, the additional
sum equivalent to two (2) months’ Rent and Service
Charge, so that the Security Deposit shall at all
times be equal to three (3) months’ Rent and Service
Charge for the remaining period of the Term.
	 
	 	(e)	 	If at any
time during the Term the off-budget measure is
withdrawn you shall, if required in writing by us,
also pay to us the additional sum equivalent to two
(2) months’ Rent and Service Charge, so that the
Security Deposit shall at all times be equal to three
(3) months’ Rent and Service Charge for the remaining
period of the Term.

	2.8	 	Mode of Payment:

	 	(a)	 	Your first
payment to be made with your letter of acceptance in
accordance with Clause 3 of this letter and the
attached Payment Table shall be by non-cash mode (eg,
Cashier’s Order, cheque).
	 
	 	(b)	 	Thereafter
during the Term, you shall pay Rent, Service Charge
and GST by Interbank GIRO or any other mode to be
determined by us.
	 
	 	(c)	 	We enclose the GIRO authorization form for your
completion.

	2.9	 	Authorised Use:
	 
	 	 	You shall use the Premises for the purpose of USE AS
EMPLOYEES’ LOUNGE only and for no other purpose whatsoever
(“the Authorised Use”).

	2.10	 	Approvals:
	 
	 	 	The Tenancy is subject to approvals being obtained from
the relevant governmental and statutory authorities.
	 
	2.11	 	Possession of Premises:

	 	(a)	 	Subject
to your acceptance of the Offer, keys to the
Premises shall be made available to you within the
period of two (2) months prior to the Commencement
Date.
	 
	 	(b)	 	From the
date you accept the keys to the Premises
(“Possession Date”) until the Commencement
Date, you shall be deemed a licensee upon the same
covenants, terms and conditions as in the Tenancy.
	 
	 	(c)	 	If you
proceed with the Tenancy after the Commencement
Date, the licence fee payable from the Possession
Date to the Commencement Date shall be waived
(“Rent-FreePeriod”). Should you fail to
so proceed, you shall:

	 	 	 	(c1) remove everything installed by you;
	 
	 	 	 	(c2) reinstate the Premises to its original
state and condition; and

 

 

 4

	 	 	 	(c3) pay us a sum equal to the prevailing
market rent payable for the period from the
Possession Date up to the date the
installations are removed and reinstatement
completed to our satisfaction,

	 
	 	 	 	without prejudice to any other rights and remedies we
may have against you under the Tenancy or at law.

	2.12	 	Loading Capacity:

	 	(a)	 	Normal (Ground & Non-ground) Floor Premises :

	 	 	 	You shall comply and ensure compliance with the following restrictions:
	 
	 	 	 	(a1) maximum loading capacity of the goods lifts in the Building; and
	 
	 	 	 	(a2) maximum floor loading capacity of 15 kiloNewtons per square metre of the Premises on
the 03 storey of the Building PROVIDED THAT any such permitted
load shall be evenly distributed.

	2.13	 	Option for Renewal of Tenancy:

	 	(a)	 	You may
within 3 months before the expiry of the Term make a
written request to us for a further term of tenancy.
	 
	 	(b)	 	We may
grant you a further term of tenancy of the Premises
subject to the following:

	 	 	 	(b1) there shall be no breach of your obligations at
the time you make your request for a further
term, and at the expiry of the Term;

	 
	 	 	 	(b2) the duration of the further term shall be
mutually agreed upon;
	 
	 	 	 	(b3) the rent payable shall be at a revised rate to
be determined by us, having regard to the
market rent of the Premises at the time of
granting the further term. Our determination of
the rent shall be final and conclusive; and

	 
	 	 	 	(b4) the tenancy for the further term shall be upon
the same covenants, terms and conditions except
for the duration, rent, security deposit (which
shall be equivalent to three (3) month’s rent
and service charge instead of two (2) months),
and excluding a covenant for renewal of
tenancy.

	3	 	Mode of Due Acceptance :

	 	The Offer shall lapse if we do not receive the following by 25
November 2005 :
	 
	 	(a)	 	Duly signed letter of
acceptance (in duplicate) of the Offer, in the form set out
in the Letter of Acceptance attached.
	 
	 	 	 	(Please date as required in your letter of acceptance)
	 
	 	(b)	 	Payment of the sum set out in the Payment Table
attached.
	 
	 	(c)	 	*Duly completed GIRO authorization form.

 

 

 5

	4	 	Please note that payments made
prior to your giving us the other items listed above may be
cleared by and credited by us upon receipt. However, if those
other items are not forthcoming from you within the time
stipulated herein, the Offer shall lapse and there shall be no
contract between you and us arising hereunder. Any payments
received shall then be refunded to you without interest and you
shall have no claim of whatsoever nature against us.
	 
	5	 	Rent-Free Period :
	 
	 	 	As the Commencement Date will not be deferred, we advise you
to accept the Offer as soon as possible and to collect the
keys to the Premises on the scheduled date in order to
maximize the Rent-Free Period referred to in Clause 2.11(c)
of this letter.
	 
	6	 	Variation to the Tenancy :
	 
	 	 	Any variation, modification, amendment, deletion, addition
or otherwise of the Offer shall not be enforceable unless
agreed by both parties and reduced in writing by us. No terms
or representation or otherwise, whether expressed or implied,
shall form part of the Offer other than what is contained
herein.
	 
	7	 	Car-Parking Scheme :

	 	(a)	 	The carpark for BLK
1004 TOA PAYOH NORTH is currently managed by P- PARKING
(SINGAPORE) PTE LTD and you will have to observe and be
bound by all the rules and regulations governing the use
and operation of the carpark. You are requested to
contact :

P-PARKING INTERNATIONAL PTE LTD

736B GEYLANG RAOD

SINGAPORE 389647

Tel No: 67494119

Fax No; 67493689

	 		 	on your use of the carpark.
	 
	 	(b)	 	The Corporation shall
not be liable for any loss, damage, injury, liabilities,
claim or action you may sustain or suffer in the use of
the car park and the tenants shall fully indemnify the
Corporation against any loss, claims, penalties, demands,
damage arising from the private management and operations
of the car park by the P-PARKING INTERNATIONAL PTE LTD.

	 	8	 	Electricity Connection:
	 
	 	 	 	Upon your acceptance of the Offer, you are advised to
proceed expeditiously to engage a registered electrical
consultant to submit two sets each of electrical single-line
diagrams and electrical layout plans to and in accordance with
the requirements of our Facilities Management Section,
Operations Support Department of our Customer Services Group,
for endorsement before an application is made to SP Services
Ltd to open an account for electricity connection.
	 
	 	 	 	Please contact the Facilities Management Section at Blk 25
Kallang Avenue #05-02 Kallang Basin Industrial Estate Singapore
339416 for their requirements.

 

 

 6

	9	 	To guide and assist you, we enclose a Schedule of Statutory Controls for Flatted, Ramp-Up
and Stack-Up Factory Customers.
	 
	10	 	For any further enquiries, you may contact our Marketing Officer/ Ginny LAM at 68833388.

Yours faithfully

/s/ Chin Na Chong

Chin Na Chong

CUSTOMER SERVICES GROUP

for

INDUSTRIAL DEVELOPMENT (HIGH-RISE) DEPARTMENT

INDUSTRIAL PARKS DEVELOPMENT GROUP

JTC CORPORATION

ENCS:

	 	 	 	 	 
	þ Payment Table

	 	þ GIRO Form(s)
	 	þ Specimen BG
	þ Plan

	 	þ Specimen Acceptance Form
	 	þ MT No. 27.09
	þ Schedule of Statutory Controls for Flatted, Ramp-Up and Stack-Up Factory Customers

 

 

 7

PAYMENT TABLE

	 	 	 
	PREMISES :

	 	PRIVATE LOT A0618407 UNIT #03-06 /07
	 

	 	BLK 1004 TOA PAYOH NORTH TOA PAYOH NORTH
	 

	 	INDUSTRIAL ESTATE SINGAPORE 318995

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Amount	 	+5% GST
	Rent at $9.45 per square metre per
month on 181.4 square metres for the
period 1 February 2006 to 28 February
2006

	 	$	1714.23	 	 	 	 	 	 	$	85.71	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	$2.25 per square metre per month
on 181.4 square metres for the period
1 February 2006 to 28 February
2006

	 	$	 408.15	 	 	 	 	 	 	$	20.41	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Total Rent Payable (inclusive of
Service Charge)

	 	 	 	 	 	$	2122.38	 	 	$	106.12	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Security Deposit equivalent to
three (3) months’ Rent and Service
Charge (in cash or Banker’s Guarantee
provided in accordance with Clause 2.7
of this letter)

	 	$	6367.14	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Less:

Equivalent of two (2)
month’s Rent and Service Charge (re
Off-budget Measure and GIRO)

	 	$	4244.76	 	 	$	2122.38	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Stamp fee payable on Letter of
Acceptance (which we will stamp on
your behalf)
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Note: If the Letter is not
returned to us within 14 days of the
date of the Letter, you will have to
pay penalty on the stamp duty which is
imposed by Stamp Duty Office of
IRAS.

	 	 	 	 	 	$	206.00	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Sub-Total Payable

	 	 	 	 	 	$	4450.76	 	 	$	106.12	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Add: GST @ 5%

	 	 	 	 	 	$	106.12	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Total Payable inclusive of GST

	 	 	 	 	 	$	4556.88

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00110-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00110-of-00352.parquet"}]]