'LEASE-LET-SCHEME' OF JTC/HDB

Mr Ang Mong Seng asked the Minister for Trade and Industry, in view of the current economic slowdown, whether he will allow Jurong Town Corporation/Housing and Development Board lessees to let out up to 75% of their leased properties instead of the present 50% under the `Lease-Let-Scheme'.

Mr Lee Yock Suan: JTC and HDB properties are meant for the lessees to carry out their industrial activities. However, as business activities do fluctuate over time, JTC and HDB allow some degree of subletting by the lessees. Current policy limits the extent of subletting to 50% of available space. For subletting to related companies, the limit is raised to 70%. These are reasonable caps since leasing properties is not the primary activity of these lessees.

Nevertheless, in view of the current economic slowdown, JTC and HDB will be flexible in applying their subletting policy, taking into account any special circumstances faced by the companies on a case-by-case basis.