To bring down the amount of contributions SPs owe to Jun 2023 level.

Current SP Arrears: $55,843.65 (as at end-Aug 2024)

Arrears as at end-June 2025 objectives:

• not higher than $55,843.65 (as at end-Aug 2024)
• not higher than $46,021 (as at end-Jun 2024)
• not higher than $26,429 (as at end-Jun 2023)
• not higher than $23,010 (50% of end-Jun 2024)

Total arrears (Amount owing by SPs) was $46,021 as at end June 2024, a jump of 74% over the previous year: $26,429 as at end June 2023. The latest number we have as of end-August 2024 is even higher at: $55,843.65. We can manage the process better to reduce this number.

We should also take heed of feedback by fellow SP Thong Joo, who was frustrated by the lack of response/acknowledgement when he followed the instructions by emailing Newman Finance.

Monthly monitoring:

Nov, Feb, May, Jul:

• Bucket 1: Phone/WhatsApp
• Bucket 2: Demand Letter
• Bucket 3: Legal letter, Lodgement of Charge, Writ of Summons

Questions:

• I assume we have everybody's official snail mail address
• What about mobile numbers or WhatsApp? Who maintains list ?
• See sample of Reminder/Demand Letters to standardise format
• When can the new month's list of arrears be ready? 15th of next month? Specifically the list as of 31 Oct 2024.
• What is the SOP? Can we amend it?

• < 2 quarters: Reminder letter
• 2 quarters: Demand letter
• 4 quarters: Legal letter
• Lodgement of Charge:
• Writ of Summons: One month later