Hang Ten and Times Newslink compete at Singapore Changi

Dermot Davitt

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Two bidders in line for terminal two concession

Hang Ten Enterprises and Times Newslink are the two bidders for the latest brand name/concept shop concession at Singapore Changi airport terminal two. The store will be located in the check-in hall south.

The bid closed last week and the three-year concession runs from April 1 2006.

Hang Ten offered the following bid: For monthly gross sales less than S$40,000 ($24,390), the additional rental per month shall be 8% of the total monthly gross sales or a minimum monthly guaranteed payment of S$2,000 ($1,220), whichever is higher; For monthly gross sales equal to or above S$40,000 and less than S$80,000 ($48,780), the additional rental per month shall be 10% of the total monthly gross sales or a minimum monthly guaranteed payment of S$6,000 ($3,660), whichever is higher; For monthly gross sales equal to or above S$80,000, the additional rental per month shall be 13% of the total monthly gross sales or a minimum monthly guaranteed payment of S$10,000 ($6,100), whichever is higher.

Times Newslink offered a minimum monthly guaranteed payment of S$10,000; plus 0% of incremental monthly gross sales up to S$100,000 ($60,975) per month; plus 10% of incremental monthly gross sales above S$100,000 and up to S$180,000 ($109,756) per month; plus 15% of incremental monthly gross sales above S$180,000 per month.