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This is not only possible, but very likely. The purpose of a reduced quota is precisely to force the employer to have less S-Pass-holding foreigners in their payroll, so no renewals are granted until the quota is reached.
The company can apply for an excemption if this endangers their financial situation or any jobs for locals. Hardship caused for you is not a valid reason.

Hi beppi, thanks for your answer.
Yes I understand that renewal is not possible if there鈥檚 no more quota.

But is 鈥渆arly termination鈥� of pass possible also?
My understanding is that any changes with MOM鈥檚 requirements/quota etc, will only affect new applications & renewal applications.
How about current active SPass, are they affected whenever MOM changes quota guidelines? Thanks!

Currently valid work passes will not be cancelled by MoM due to quota changes, so you can continue to work on yours until its expiry date.

Quick question....Company has total of 14 employees of which 3 are EP holders. Would that impact EP renewals ? Company falls under Services category.

If you roughly know the numbers of SC/PR , EP, SP , and WP holders that the company currently have.

You can use this formulae provided by MOM.

I used the calculator
Total workforce 14
Total SC/PR 11
Total EP 3
SP 0
Company category is Services
The result comes up as below
No of Ep that can be hired =-2
Would that impact EP renewal ?

Yes, of course.

Sure thank you.