Singapore Government Press Release
Media Relations Division, Ministry of Information, Communications and the Arts,
MITA Building, 140 Hill Street, 2nd Storey, Singapore 179369
Tel: 6837-9666

Prof Lim Lan Yuan, President, APFM,

Distinguished Guests,

Ladies & Gentlemen,

Good Morning.

I am pleased to join you this morning to launch the SISV-APFM Accreditation Scheme for Managing Agents. SISV (Singapore Institute of Surveyors and Valuers) and APFM (Association of Property and Facility Managers) should be applauded for their joint efforts in developing this scheme to enhance the professionalism of managing agents in Singapore.

"Managing Agents" or MAs are firms that provide services and advice on the maintenance and management of buildings and common property. The recent spate of media publicity on alleged mismanagement of some strata developments has drawn attention to the professionalism of the managing agents.

An MA’s primary role is to ensure that estates are properly and professionally run. They ensure that facilities are working smoothly at all times and the common properties are well maintained. They need to attend to problems in the estates. The standard of a development’s maintenance and management therefore depends very much on the MA’s professionalism and knowledge of relevant laws and experience.

Management corporations (MCs) are made up of voluntary council members, who hold full time regular jobs. MAs therefore play an important role in helping MCs ensure that their estates are professionally managed. This delegation of duties by MCs to MAs is provided for in the Land Titles (Strata) Act.

There are currently more than 2,600 management corporations in Singapore. About 50% of them engage property managers and managing agents to help run their estates. This is likely to increase in the future as more developments come on stream.

The status and services of MAs are recognised in the legislation. However, there are still differing standards of professional practice and conduct.

I am happy to note that APFM collaborated with SPRING, BCA, REDAS and other industry bodies to develop a technical reference (TR3) on the performance of managing agents for private residential properties. This was published by SPRING in Sep 01. TR3 sets the minimum standard of conduct for MAs and covers their professional ethics, duties and responsibilities.

I understand that TR3 was put through a trial period of 2 years and it was well-received by the MAs and MCs who participated in the trial. The TR3 is currently being reviewed for development into a Singapore Standard by early next year.

The government encourages the industry to take the lead in promoting professionalism and self-regulation. We would like to see an industry of managing agents that can regulate itself as a responsible profession, comparable to other professionals. The launch of the SISV-APFM Accreditation Scheme is therefore a positive and significant step in this direction.

The accreditation scheme will set the minimum requirements for MAs and ensure that they have the expertise and ability to provide such services.

An SISV-APFM Accreditation Panel will evaluate the applications for accreditation and also serve as a disciplinary board to hear complaints. Firms that fall short of the standards will not be accredited. Defaulting firms will also have their accreditation status suspended until the deficiencies have been rectified.

Firms applying for re-accreditation are required to keep abreast of developments in property management and maintenance through continuous learning programmes. They must also maintain an acceptable track record in property management activities. This is important in maintaining professional standards.

In conclusion, I am pleased to affirm that the government recognises and supports the accreditation scheme. The scheme will go a long way to ensure the professionalism of managing agents and to promote self-regulation in the property management industry. On this note, I would like to commend both SISV and APFM for your excellent efforts in developing the scheme and wish you every success.

Thank you.

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