Finance Policies and Procedures

By making payment to MENDAKI for the tuition fees in respect of the MTS or CTP, you agree to be bound by MENDAKI’s payment and refund policy below.

MENDAKI accepts the following payment methods:

• Payment Over the Counter (at Wisma MENDAKI and selected MENDAKI centres only): Cash, NETS and debit/credit card.
• Payment by Physical Mail: Cheque, postal order and money order
• Online Payment: E-NETS

MENDAKI reserves the right at any time to modify or discontinue, temporarily or permanently, any payment method without notice or assigning any reason. You shall be solely responsible for any payment made to MENDAKI (including ensuring the timeliness, accuracy and completeness of all sums paid to MENDAKI). For the avoidance of doubt, MENDAKI shall not be liable to refund or to reverse any payment that you have made as a result of your own error or negligence.

MENDAKI adopts a strict no refund policy of fees paid for the MTS or the CTP regardless of the method of payment. No refund of tuition fees will be made for students who have been placed and commenced class. MENDAKI may, at its sole and absolute discretion, consider the refund of any fees paid in certain limited and exceptional circumstances. Any such refunds (if granted) may, at MENDAKI’s sole and absolute discretion, be pro-rated and/or subject to deductions for any administrative costs and expenses incurred by MENDAKI in processing such refund. Any refund (if granted) will be processed within thirty (30) working days. Any queries relating to refunds or delayed refunds should be directed to the MTS Hotline (6551 2830) or [email protected]. Students who are granted fee waivers in respect of the MTS or CTP are not at any time entitled for any refunds.

The reserves of MENDAKI’s Group and Company are the unrestricted funds available to the Group and Company (also referred to as “General Funds”). The Company receives funds on an annual basis and the unrestricted net operating expenditure will be planned accordingly. Unutilised funds for each year will be transferred to the reserves of the Company.

There were no changes to the Group’s approach to reserves management during the year.

For more information on MENDAKI’s reserves policy, please refer to Note 14 to Note 20 (FS39 to FS40) of the audited financial statements.

MENDAKI will maintain a reserve that will be no less than 3 years of the annual operating expenditure. The reserves will be reviewed by the Board of Directors at least annually to see if the current arrangement provides adequate cover to meet the needs of the Company’s operating expenditure during difficult financial times.

The general reserve funds may be invested in accordance with the Investment Policy adopted by the Investment Committee.

Please click here to view the financial information of the past five (5) years.