From my Contract of Service:

Termination of Service
One (1) month's written notice or (1) month's pay in lieu of notice.

Annual Wage Supplement
Annual wage supplement equivalent to one and one half (1-1/2) month's
salary will be paid for a full year's (12 months) service.
Employees with less than twelve (12) month's service as at December
31st shall be paid proportionate Annual Wage Supplement.
Any employee who leaves the service of the company for whatever
reasons before December 31st shall not be entitled to pro-rata Annual
Wage Supplement.

I would like to seek the opinion of HR professionals like yourself for
some assurance of my understanding on my situation after reading the
FAQs on Resignation:

Q: I have been working in this company since Jan 2010. If I submit my
letter of resignation on the 3rd Dec 2012, my last day of service
would be 2nd Jan 2013 (on or after Dec 31), therefore my employer is
contractually bound to pay me a full year's service of AWS which is
one and one half month's salary, in addition to salary for the month
of Dec 2012. However, if they insisted I leave earlier e.g. 2 weeks,
then they have to pay 2 weeks salary + 2 weeks salary in lieu, but can
avoid having to pay me the AWS as my last day would be before Dec 31.

Is there any way the employer is able to take away the AWS even if my
last day is on 2nd Jan 2013 by serving the full notice period?

First of all, please refer to your company’s AWS policy as whether the resignation period will void your eligibility to the AWS.