Exhibit 10.14 Real Estate Lease dated February 26, 2002 between JTC Corporation
and Trio-Tech International PTE for Block 0000 Xxx Xxxxx Xxxxx #00-00/00.
XXX XXXXXXX
SAN XXXX
TRIO-TECH DUBLIN
PRIVATE LIMITED
SINGAPORE
PENANG
BANGKOK
28 February 2002 BOTH BY HAND AND FAX
Marketing Department
JTC Corporation
The JTC Summit
0 Xxxxxx Xxxx Xxxx Xxxx
Xxxxxxxxx 000000
Attn: Xx Xxx Xxx Xxxx T
ACCEPTANCE OF OFFER OF TENANCY FOR THE PREMISES AT XXX 0000 XXX XXXXX XXXXX
#00-00 TO #00-00 XXX XXXXX XXXXXXXXXX XXXXXX XXXXXXXXX 000000
1 We refer to your letter of offer dated 26 February 2002 for the Tenancy
and hereby confirm our acceptance of all the covenants, terms and
conditions stipulated therein.
2. We are currently on GIRO/opting to pay by GIRD, thus, we enclose
herewith a cheque for the amount of S$5,713.93 and a Banker's/Insurance
Guarantee for the amount of S$10,673.57 (2 months' rental and service
charge) as security deposit as confirmation of our acceptance.
3. We also enclose herewith a duly completed GIRO authorisation form.
/s/: Xxx Xxxx Kuan
___________________________
Xxx Xxx Xxxx Xxxx
Directors of Logistics
For and on behalf of
TRIO-TECH INTERNATIONAL PTE LTD
In the presence of:
/s/: Xxxxx Xxx
___________________________
Xxxx Xxxxx Xxx
NRIC No.: X0000000X
JTC(L)3729/199 Temp 4
DID: 68833427
FAX: 00000000
Email: xxxxxxx@xxx.xxx.xx
13 May, 2002
TRIO-TECH INTERNATIONAL PTE LTD
Xxx 0000 Xxx Xxxxx Xxxxx XXX Xxxxxxxxxxx
#00-00 to #02-15 REGISTERED Xxx XXX Xxxxxx
Xxxxxxxxx 000000 0 Xxxxxx Xxxx Xxxx Xxxx
Xxxxxxxxx 000000
(Attn: Xxx Xxx Xxxx Xxxx) telephone ( 00) 0000000
facsimile (00) 000 0000
web site xxx.xxx.xxx.xx
Dear Sirs
OFFER OF TENANCY FOR FLATTED FACTORY SPACE AT XXX 0000 XXX XXXXX XXXXX #00-00 TO
#00-00 XXX XXXXX XXXXXXXXXX XXXXXX
1 Thank you for your letter of acceptance dated 28 February 2002, payment
of $5,713.93 and your Banker's Guarantee. We enclose herewith the
original stamped letter of acceptance for your retention and safe
keeping. Kindly address all future correspondence concerning payments of
rental and other charges direct to our Billing & Collection Department,
(Customer Services Group, East Zone) at Xxx 00 Xxxxxxx Xxxxxx #00-00
Xxxxxxx Xxxxx Xxxxxxxxxx Xxxxxx Xxxxxxxxx 000000.
2. Please submit your factory layout, air-conditioning system and other
plans to the Controller, BCU(JTC Corporation) for endorsement in
accordance with sub-paragraph 1. 11 of our letter of offer of tenancy
dated 26 February 2002. If you have any enquiries on the preparation and
submission of your plans for JTC Corporation endorsement, please do not
hesitate to contact Mr Foo See Keong at Tel No.: 00000000.
In addition, you are also required to engage registered consultants
and/or competent contractors to submit your fire protection system plans,
internal partitioning plans and sprinkler system plans to our BCU(JTC
Corporation ) for approval in accordance with sub-paragraph 8.06 of our
said offer. Please contact Xx Xxxx Xxxx Xxxxx of Tel No.: 00000000 or Xx
Xxxxx Xxx at Tel No.: 68855150 should you need further clarification.
3. You are required to engage registered consultants and/or competent
contractors to submit your electrical plans to our Zone Office, (Customer
Services Group, East Zone) at Xxx 00 Xxxxxxx Xxxxxx #00-00 Xxxxxxx Xxxxx
Xxxxxxxxxx Xxxxxx Xxxxxxxxx 000000 for endorsement and approval. Please
contact Xx Xxxx at Tel No.: 00000000 for enquiries and clarification on
the submission of the electrical plans.
4. In addition, please send us a copy each of your Power Supply & PUB
Agreement Cards in respect of electrical and/or water accounts
respectively within two weeks from the date hereof.
5. We will appreciate it if you could inform us of your latest corresponding
address, telephone and facsimile numbers (if any).
6. Thank you again for your support. If you encounter any problems during
your tenancy, please do not hesitate to contact myself or Mr Xxxx Xxx
(Senior Officer Lease Management Officer) at Tel No. 00000000.
7. We also attach herewith a copy of the minute dated 6 March 2002 from the
Chief Engineer, Central Building Plan Unit, Pollution Control Department
for your strict compliance with the requirements stipulated therein.
Yours Faithfully,
/s/: Ang Xxx Xxxx
_____________________
ANG XXX XXXX
MARKETING DEPARTMENT INDUSTRIAL PARKS DEVELOPMENT GROUP JTC CORPORATION
Attd 1) Original Stamped letter of acceptance
2) Letter from PCD
MINISTRY OF THE ENVIRONMENT
CENTRAL BUILDING PLAN UNIT
POLLUTION CONTROL DEPARTMENT
PLEASE QUOTE OUR REF IN YOUR REPLY
Your Ref JTC(L)3729/199 Temp 4
Our Ref : CBPU 95/6/107/ A9317-14376/RO
Date : 6 Mar 2002
Director
Marketing & Sales Department
Industrial Parks Development Group
JTC Corporation
The JTC Summit
0 Xxxxxx Xxxx Xxxx Xxxx
Xxxxxxxxx 000000
Attn: Xx. Xxx Xxx Xxxx
PROPOSED ALLOCATION OF PREMISES KNOWN AS SITE A4551(t) AT XXX 0000 XXX XXXXX
XXXXX #00-00 TO #00-00 XXX XXXXX XXXXXXXXXX XXXXXX (AREA: 362.80 SQ M) OF JTC
CORPORATION FLATTED FACTORY BUILDING TO M/S TRIO-TECH INTERNATIONAL PTE LTD FOR
BURN-IN SERVICES ONLY
Please refer to your minute dated 26 Feb 2002.
2 We have in-principle no objection to the above proposal subject to the
following conditions
a) No manufacturing of PCBs or electroplating of parts shall be carried
out within the premises.
b) Pollution control equipment (e.g. activated carbon filter or
after-burner etc.) shall be installed to control the fugitive
fumes/solvent vapour emissions, if any, from the proposed operations.
c) The bum-in equipment shall use electricity as proposed.
d) Noise abatement measure, if required, shall be provided to ensure that
the noise level at the factory boundary generated from the production
activities, does not exceed the noise limits stipulated in the
Environmental Pollution Control (Boundary Noise limits For Factory
Premises) Regulations, 1999.
3 Technical details of the pollution control equipment shall be submitted to
Head, Pollution Control Department for approval prior to installation.
Pollution control equipment / facilities should be installed prior to
commencement of operation.
4 The proposed activity will not impose any health & safety buffers or height
restriction based on the company declaration in the application form (Form
IA) submitted.
/s/: Tan Xxxxx Xxx
__________________
TAN XXXXX XXX
for CHIEF ENGINEER
CENTRAL BUILDING PLAN UNIT
POLLUTION CONTROL DEPARTMENT
cc
M/s Trio-Tech International Pte Ltd CE(Inspectorate), PCD
Xxx 0000 Xxx Xxxxx Xxxxx #00-00 Attn: Mdm. Chua Gek Yong
Xxxxxxxxx 000000
JTC(L)3729/199 Temp 4 DID : 68833427
FAX: 00000000
Email: xxxxxxx@xxx.xxx.xx
26 February 2002
TRIO-TECH INTERNATIONAL PTE LTD
Blk 0000 Xxx Xxxxx Xxxxx
#00-00
Xxxxxxxxx 000000
BY XXX
(Attn: Xxx Xxx Xxxx Xxxx)
Dear Sirs
PROPERTY TAX REBATE AND SPECIAL RENTAL PACKAGE IN RESPECT OF THE FACTORY SPACE
KNOWN AS PRIVATE XXX X0000(x) XX XXXXX 0000 XXX XXXXX NORTH #02-11 TO #00-00 XXX
XXXXX XXXXXXXXXX XXXXXX XXXXXXXXX 000000
1 We refer to our letter of offer of tenancy for the above mentioned
premises.
2 In response to the current economic condition, we will reduce, as an off
budget measure, the security deposit from 3 months to 2 months to ease cash
flow, credit lines and reduce business costs. This measure is only
available to companies on GIRO.
3 We are pleased to inform you that subject to your valid acceptance of our
offer, you will enjoy
. a 3 % property tax rebate effective from 1 Jul 2001 to 31 Dec
2002
. a 30 % reduction in the stamp duly payable effective from 13 Oct
2001 to 31 Dec 2002
4 Our Statement of Account in the Letter of Offer of tenancy has reflected
the above reduction in property tax, security deposit and the stamp duty.
Please be informed that the reduction in property tax, security deposit and
stamp duty do not vary any other terms or stipulations in the Letter of
Offer and the Memorandum of Tenancy.
5 Please contact me should you need further clarifications.
Yours Faithfully,
/s/: Ang Xxx Xxxx
____________________
ANG XXX XXXX
MARKETING DEPARTMENT
INDUSTRIAL PARKS DEVELOPMENT GROUP
JTC CORPORATION
Attd
JTC(L)3729/199 Temp 4
DID: 8833427
26 February 2002 FAX: 0000000
Email: xxxxxxx@xxx.xxx.xx
TRIO-TECH INTERNATIONAL PTE LTD
Blk 0000 Xxx Xxxxx Xxxxx
#00-00
Xxxxxxxxx 000000
BY XXX
(Attn: Xxx Xxx Xxxx Xxxx)
Dear Sirs,
OFFER OF TENANCY FOR FLATTED FACTORY SPACE
1. We are pleased to offer a tenancy of the Premises subject to the following
covenants, terms and conditions in this letter and in the annexed
Memorandum of Tenancy ("the Offer"):
1.01 Location:
Pte Xxx X0000(x), Xxx 0000 ("xxx Xxxxxxxx") Xxx Xxxxx Xxxxx #02-11 to
#00-00, Xxx Xxxxx Xxxxxxxxxx Xxxxxx Xxxxxxxxx 000000 ("the Premises")
as delineated and edged in red on the plan attached to the Offer.
1.02 Term of Tenancy:
3 years ("the Term") with effect from 1 May 2002 ("the Commencement
Date").
1.03 Tenancy Agreement:
Upon due acceptance of the Offer in accordance with clause 2 of this
letter, you shall have entered into a tenancy agreement with us ("the
Tenancy") and will be bound by the covenants, terms and conditions
thereof.
In the event of any inconsistency or conflict between any covenant,
term or condition of this letter and the Memorandum of Tenancy, the
relevant covenant, term or condition in this letter shall prevail.
1.04 Area:
Approximately 362.80 square metres (subject to survey).
1.05 Rent and Service Charge:
For Discounted Rent:
(a) Discounted rate of Dollars $12.61 per square metre per month
for so long as the Tenant shall occupy by way of tenancy an
aggregate floor area of 1000 square metres in the Building
or in the various flatted factories belonging to the
Landlord, and
(b) Normal rate of Dollars $13.00 per square metre per month in the
event that the said aggregate floor area occupied is at any time
reduced to below 1000 square metre (when the discount shall be
totally withdrawn) with effect from the date of reduction in the
said aggregate floor,
("Rent") to be paid without demand and in advance without deduction on
the lst day of each month of the year (i.e. 1st of January, February,
March, etc.). The next payment shall be made on 1 June 2002.
Service charge:
$2.10 per square metre per month, ("Service Charge") as charges for
services rendered by us, payable without demand on the same date and
in the same manner as the Rent, subject to our revision from time to
time.
1.06 Security Deposit/Banker's Guarantee:
You will at the time of acceptance of the Offer be required to place
with us a deposit equivalent to 3 months' Rent (at the discounted
rate) and Service Charge ("Security Deposit") as security against any
breach of the covenants, terms and conditions in the Tenancy.
The Security Deposit may be in the form of cash and/or acceptable
Banker's Guarantee in the form attached (effective from 1 March 2002
to 31 July 2005 ) and/or such other form of security as we may in our
absolute discretion permit or accept.
The Security Deposit must 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.
If the Rent at the discounted rate is increased to the normal rate or
Service Charge is increased or any deductions are made from the
Security Deposit, you are to immediately pay the amount of such
increase or make good the deductions so that the Security Deposit
shall at all times be equal to 3 months' Rent and Service Charge.
1.07 Mode of Payment:
[Note: You have an existing account with us from which we will deduct
the aforesaid payments. You are therefore not required to submit a
duly completed GIRO form as part of the Mode of Acceptance herein
unless you wish to have a separate GIRO account to meet the aforesaid
payments.]
1.08 Permitted Use:
(a) Subject to clause 1.12 of this letter, you shall commence
full operations within four (4) months of the Commencement
Date for the purpose of burn in services only and for no
other purpose whatsoever ("the Authorised Use").
(b) Thereafter, you shall maintain full and continuous
operations and use and occupy the whole of the Premises for
the Authorised Use.
(c) Subject to clauses (a) and (b) above, you shall use and
occupy at least sixty percent (60%) of the gross floor area
of the Premises for industrial activities and ancillary
stores, and use and occupy the remaining gross floor area,
if any, for offices, neutral areas, communal facilities and
such other uses as may be approved in writing by us and the
relevant governmental and statutory authorities
PROVIDED THAT you shall not use and occupy the Premises for
the purpose of commercial office and storage unrelated to
the Authorised Use.
1.09 Approvals
The Tenancy is subject to approvals being obtained from the relevant
government and statutory authorities:
1.10 Possession of Premises:
(a) Keys to the Premises will be given to you two (2) months
prior to the Commencement Date subject to due acceptance of
the Offer ("Possession Date").
(b) From the Possession Date until the Commencement Date, you
shall be deemed a licensee upon the same terms and
conditions 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-Free Period").
Should you fail to so proceed, you shall:
(i) remove everything installed by you;
(ii) reinstate the Premises to its original state and
condition; and
(iii) 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.
1.11 Preparation and Submission of Plans:
(a) No alteration, addition, improvement, erection, installation
or interference to or in the Premises or the fixtures and
fittings therein is permitted without Building Control Unit
[BCU(JTC Corporation)] prior written consent. Your attention
is drawn to clauses 2.10 to 2.19 and 2.34 of the Memorandum
of Tenancy.
(b) You will be required to prepare and submit floor layout
plans of your factory and plans of the air-conditioning
works in accordance with the terms of the
tenancy and the `Guide' attached. It is important that you should
proceed with the preparation and submission of the plans in accordance
with the procedures set out in the said `Guide'.
(c) Should there be alteration of existing automatic fire alarm and
sprinkler system installation, alteration plans shall be submitted to
Building Control Unit [BCU(JTC Corporation)] for approval on fire
safety aspects. - All air-conditioning, fire alarm & sprinkler system
plans must be signed by a relevant Professional Engineer, registered
with the Professional Engineers Board of Singapore.
(d) Upon due acceptance of the Offer, a copy of the floor and elevation
plans (transparencies) will be issued to you to assist in the
preparation of the plans required herein.
(e) No work shall commence until the plans have been approved by Building
Control Unit [BCU(JTC Corporation)].
1.12 Final inspection:
You shall ensure that final inspection by us of all installations is
carried out and our approval of the same is obtained before any
operations in the Premises may be commenced.
1.13 Special Conditions:
(1) Normal (Ground & Non-ground) Floor Premises
You shall comply and ensure compliance with the following restrictions:
(a) maximum loading capacity of the goods lifts in the Building; and
(b) maximum floor loading capacity of 15.00 kiloNewtons per square
metre of the Premises on the 2nd storey of the Building PROVIDED
THAT any such permitted load shall be evenly distributed.
We shall not be liable for any loss or damage that you may suffer from any
subsidence or cracking of the ground floor slabs and aprons of the
Building.
(2) 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 upon
mutual terms to be agreed between you and us subject to the
following:
(i) there shall be no breach of your obligations at the
time you make your request-for a further term;
(ii) our determination of revised rent, having regard to the
market rent of the Premises at the time of granting the
further term, shall be final;
(iii) we shall have absolute discretion to determine such
covenants, terms and conditions, but excluding a covenant
for renewal of tenancy; and
(iv) there shall not be any breach of your obligations at the
expiry of the Term.
2. Mode of Acceptance:
The Offer shall lapse if we do not receive the following by 28 February
2002:-
. Duly signed letter of acceptance (in duplicate) of all the covenants,
terms and conditions in the Tenancy in the form enclosed at the
Appendix.
(Please date as required in the Appendix)
. Payment of the sum set out in clause 4.
. Duly completed GIRO authorization, form.
3. 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
the said 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.
4. The total amount payable is as follows:
Amount +3 % GST
Rent at $12.61 per square metre per
month on 362.80 square metres for the
period 1 May 2002 to 31 May 2002 $ 4,574.91
Less:
3% PROPERTY TAX REBATE $ 137.25
- -------------
$ 4,437.66
Service Charge at $2.10 per square
metre per month on 362.80 square
metres for the period I May 2002 to 31
May 2002 $ 761.88 $ 5,199.54 $155.99
-------------
Deposit equivalent to three months'
rent and service charge (or Banker's
Guarantee provided in accordance with $16,010.36
sub-paragraph 1.06 above)
Less:
Deposit equivalent to one month's rent $5,336.79 $10,673.57
-------------
and service charge (Off-budget
Measures)
Stamp fee payable on Letter of
Acceptance which will be stamped by $ 358.40
JTC Corporation on your behalf
Sub-Total Payable $16,231.51 $155.99
Add: GST @ 3% $ 155.99
----------
Total Payable inclusive of GST $16,387.50
==========
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 1. 10 (c) of this letter.
6. Variation to the Tenancy
This letter and the Memorandum of Tenancy constitute the full terms
and conditions governing the Offer and no terms or representation or
otherwise, whether express or implied, shall form part of the Offer
other than what is contained herein. Any variation, modification,
amendment, deletion, addition or otherwise of the covenants, terms and
conditions of the Offer shall not be enforceable unless agreed by both
parties and reduced in writing by us.
7. Car-Parking Scheme:
(a) The car park for Blk 0000 Xxx Xxxxx Xxxxx is currently
managed by:
(i) have to contribute towards all the operational and
management costs, if any, incurred in connection with
the car parks;
(ii) observe and be bound by all the rules and regulations
governing the use and operation of the car park. A copy
of the Tenant Committee's current rules and regulations
is obtainable from the Tenants' Committee. You are
required to contact:
Xxxxxx Parking (S) Xxx Xxx
00, Xxxxxx Xxxx
Xxxxxxxxx 000000
Xx Xxxxxxx Xxx
Ms Xxxxx Toh
Tel: 0000000
Fax:0000000
a member of the Committee, on your use of the car park.
(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 tenants.
8. Application for Approvals, Utilities etc.
Upon your acceptance of the covenants, terms and conditions of the
Offer, you are advised to proceed expeditiously as follows:
8.01 Preliminary Clearance:
Co m-ply with the requirements of the Chief Engineer
(Central Building Plan Unit), Pollution Control Department
and/or other departments pursuant to your application/s for
preliminary clearance. (Please note that we have referred
your application to the relevant department/s).
8.02 Discharge of Trade Effluence:
Complete the attached Application for Permission to
Discharge Trade Effluent into Public Sewer and return the
application form direct to the Head, Pollution Control
Department, Ministry of Environment, Environment Building, 00
Xxxxxx Xxxx. Xxxxxxxxx 000000 (Telephone No. 0000000).
8.03 Electricity:
Engage a registered electrical consultant or competent
contractor to submit three sets of electrical single-line
diagrams to and in accordance with the requirements of our
Property Support Department (PSD), Customer Services Group,
JTC East Zone Office for endorsement before an application is
made to the Power Supply Pte Ltd to open an account for
electricity connection. Please contact our Property Support
Department (PSD) at Xxx 00 Xxxxxxx Xxxxxx #00-00 Xxxxxxx Xxxxx
Xxxxxxxxxx Xxxxxx Xxxxxxxxx 000000 direct for their
requirements.
8.04 Water:
Submit four copies of sketch plans, prepared by a licensed
plumber, showing the section and layout of the plumbing, to
our Building Control Unit [BCU (JTC Corporation)] for approval
prior to the issue of a letter to Water Conservation
Department, Public Utilities Board to assist you in your
application for a water sub-meter.
8.05 Telephone:
Apply direct to Singapore Telecommunications Ltd for all
connections.
8.06 Automatic Fire Alarm System (Incorporating Heat Detector)
Engage a registered electrical consultant/professional
engineer to submit two sets of fire alarm drawings, indicating
the existing fixtures if any, the proposed modifications of
the fire alarm and the layout of machinery, etc to and in
accordance with the requirements of our Building Control Unit
[BCU (JTC Corporation)]. Please contact our Building Control
Unit [BCU (JTC Corporation)] at Xxx XXX Xxxxxx, Xxx-xxxx
Xxxxxx (0xxx level) 0 Xxxxxx Xxxx Xxxx Xxxx Xxxxxxxxx 000000
direct for further requirements.
8.07 Factory Inspectorate
Complete and return direct to Chief Inspector of Factories the
attached form, "Particulars to be submitted by occupiers or
Intending Occupiers of Factories".
Yours Faithfully,
/s/: Ang Xxx Xxxx
_________________
ANG XXX XXXX
MARKETING DEPARTMENT
INDUSTRIAL PARKS DEVELOPMENT GROUP
JTC CORPORATION
Encl
