Phoenicia Trading leads bidding for Changi wines tender

Tina Milton

Phoenicia Trading leads the financial bidding for the wines tender at Singapore Changi airport, where the only other competition was from DFS Venture Singapore

Phoenicia Trading is leading the financial bidding for the wines tender at Singapore Changi, where only two companies entered the bidding race. Phoenicia offered additional rents of either 22% of the total monthly gross sales or a minimum monthly guarantee of S$118,462, whichever is higher. Meanwhile, DFS Venture Singapore’s bid was significantly less than Phoenicia’s as it offered 12% of the total monthly gross sales or a minimum monthly guarantee of S$18,000, wherever is higher. The contract will start from January 1 2008 for three years with an option to extend for two years at the end of the tenancy.