We're excited to announce the immediate implementation of our new Contract Management Policy, aimed at enhancing efficiency, compliance, and transparency in our contractual dealings. The policy introduces streamlined processes for contract creation, negotiation, approval, and storage, along with reinforced guidelines for termination. Collaboration is emphasized between the Requestor, Legal Division, and other relevant departments during these processes. The full policy is available on MGME Contract Management Policy, and we encourage everyone to familiarize themselves with its contents. Briefing sessions for Assistant Managers and above will be conducted on 27 February 2023 to cover key aspects and address questions. Your adherence to the policy is crucial for its success, and we appreciate your cooperation. For immediate concerns, feel free to reach out to Derek Yap or Cheryl Chong.

Key Highlights of the New Policy:
1.Introduces streamlined procedures for contract creation, negotiation, approval, and storage.
2.We have reinforced our guidelines for contract terminations, providing a clearer framework for both mutual and unilateral terminations.
3.Enhance communication and ensure a comprehensive understanding of contractual obligations.