Knight Frank Estate Management (Our Ref KFEM/3442/Carabelle/CB-MA-11/001 9® February 2011 ° 1“ Management Council ‘The Management Corporation Strata Title Plan No. 3442 67 West Coast Way #01-30 Carabelle Singapore 127023 Dear Sir/Mdm, RENEWAL OF MANAGING AGENT SERVICES FOR CARABELLE — MCST 3442 Firstly, we wish all members a Prosperous and Joyous Chinese New Year and welcome on board to the I Management Council. We thank you for giving us the opportunity to once again offer our MA services to your esteemed development, Carabelle. At Knight Frank Estate Management Pte Ltd (KFEM), we believe in taking care of your property like our own and more importantly, engaging the right people to do so, As mandated at the 1* Annual General Meeting, we would like to present our Managing Agent Services proposal to you for your kind consideration, as follows: 1) Managing Agent Fees - $2,500 2) Staff Costs including Factor of 1.45 - $9,715 Total - $12,215 (before GS' For your easy reference, we have prepared the breakdown of the staff cost as below: ‘SIN | Position ‘Actual salary | After Factor of 1.45 1)_| Condo Manager $3,500.00 $5,075 2) [Admin Asst $1,600.00 $2,320 3)_| Technician $1,600.00 $2,320 Total $9,715 Factor of 1.45 includes the 13° month AWS, medical benefits including hospitalisation, allowances, ‘employer’s CPF contributions & training. As for the performance bonus for our site staffs, this is to be separately agreed by the Council and we would suggest a review in 6 month’s time. ‘We trust the above is acceptable and look forward to our partnership with the Council. Yours Sincerely, Knight Frank Estate Management Pte Ltd CAS Vincent Chong Executive Director DID: 6848 5608 Fax: 6848 5600 Knight Frank Estate Management Pte Lid 160 Paya Lebar Road #05-06/06 Orion @ Paya Lebar Singapore 409022 Tel: (65) 6848 5678 Fax: (65) 6848 5800 www.fem.com.sg Reg. No. 200007671Z