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I asked the Singapore ICA (Immigration & Checkpoints Authority) and received this reply:
Applicants who intend to apply for Frequent Traveller will be granted with a maximum of 5 years duration or minus 6 months from the passport expiry date duration depending on their passport expiry date.
The Frequent Traveller can be renewable if there is a change in passport or the Frequent Traveller status expires.
For the first time application of Frequent Traveller as well as the renewal process, the applicants need to visit to our eIACS enrolment centre.