Keppel Club to cut monthly subscription fees to $1 for next 12 months
It will also reduce membership transfer fees by 25 per cent
Keppel Club, faced with the daunting prospect of lease expiry in December 2021, will cut members' monthly subscription fees to a nominal $1 for the next 12 months from July 1 and slash membership transfer fees by 25 per cent.
This follows a similar move more than a year ago by Raffles Country Club, which is due to hand over its 143ha site in Tuas to the Singapore Land Authority by the end of next month.
Keppel Club president Lai Mun Onn, who announced the fee cuts to much applause at the recent annual general meeting, had pointed then to the "challenges the club faces, which require the patience and understanding of members".
The $1 monthly subscription will apply to all except term members. Single and married golfing members currently pay $85 and $105 per month respectively, according to the club's website.
Transfer fees for an ordinary member, for instance, will drop from $12,000 to $9,000.
The Law Ministry informed the club earlier this month that there would be no extension of the December 2021 lease expiry, as the authorities have redevelopment plans for the Telok Blangah site. Keppel was first notified in 2014.
The club is looking at several options, including becoming a social club with tie-ups for golfing with clubs in Johor Baru, Batam or other local clubs.
Another option is a merger with Changi Golf Club. A task force comprising representatives from both clubs was set up last month to address merger issues.
If all options fail, the club will appeal to the Government to let it disburse its financial reserves among members and shut down.
Mr Lai said the Law Ministry had told the club it could amend its constitution to allow its reserves to be distributed to members upon dissolution,"less the monies obtained from the operations of the fruit machines".
Fruit machine monies are regulated by the Private Lotteries Act, which states that no profit shall accrue to any individual from a lottery such as the fruit machines.
All the monies accrued from fruit machines and remaining at the time of dissolution of the club has to be donated to a charity or disposed of in a manner approved by the Permit Officer, based on the permit condition.
Mr Lai said more than 90 per cent of the club's reserves comprised revenues from jackpot machines and will have to be donated to charity upon dissolution. The club will write to the Permit Officer to consider allowing such reserves to be distributed to members instead.