SINGAPORE. King Power International – a division of King Power Group (Hong Kong) – and local group Lian Tong & Co are the big winners of the latest concessions awarded by the Civil Aviation Authority of Singapore.
As expected, King Power won a General Merchandise concession at Singapore Changi Airport’s Budget Terminal, having been the sole bidder for the three-year contract.
The unit on offer measures around 180sq m and is located in the terminal’s Departure/Transit Lounge. King Power offered 10% of the total monthly gross sales or a Minimum Monthly Guarantee of S$5,000. The contract runs from 26 July for three years. There is no option for renewal at the end of the tenancy term.
Meanwhile, Lian Tong & Co won a Toys/Games/Children’s Gifts/Creative Learning Shop concession in Terminal 1, where the unit is around 173sq m. The store will trade under the Kidsworld brand name.
The company offered 20% of total monthly gross sales for total monthly gross sales up to S$200,000, plus 25% of incremental monthly gross sales for total monthly gross sales above S$200,000; Or a Minimum Monthly Guarantee of S$36,000, whichever is higher.
Lian Tong beat competition from Times Newslink and Vendermac Distribution to the business. The contract begins on 11 June and runs for three years.
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