SINGAPORE. DFS Venture Singapore and local company Rira are the two contestants for the souvenir shop concession at Singapore Changi Airport departure/transit lounge south, terminal two.
DFS offered the highest minimum in a straightforward offer of either 30% of the total monthly gross sales or a minimum monthly guaranteed payment of S$331,999; plus 40% of incremental monthly gross sales above S$1,300,000 per month; whichever is higher.
Rira offered an additional rental of either 30% of total monthly gross sales or a minimum monthly guaranteed (MMG) payment of S$270,000 per month for total monthly gross sales of S$660,000 or lower; an MMG of S$282,000 per month for total monthly gross sales exceeding S$660,000 but equal or below S$730,000; an MMG of S$315,000 per month for total monthly gross sales exceeding S$730,000 but equal or below S$800,000.
At higher sales levels it bid an MMG of S$365,000 per month for total monthly gross sales exceeding S$800,000 but equal or below S$900,000, an MMG of S$425,000 per month for total monthly gross sales exceeding S$900,000; whichever is higher.
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