Phoenicia Trading (Afro-Asia) has offered the highest bid for the new Wine concession due to commence on January 1, 2008 at Departure Lounge South after Singapore Changi Airport Terminal 3 has opened.

Phoenicia has offered an additional rental of either 22% of total monthly gross sales; or a minimum monthly guarantee of S$118,462 ($77,563) whichever of (a) or (b) is higher. The tangible side of Phoencia's offer corresponds to S$4,264,632 ($2,792,628) over the three-year contract period which begins on January 1, 2008.
That compares with DFS Venture Singapore's offer of an additional rental of either 12% of the total monthly gross sales; or a minimum monthly guarantee of S$18,000 ($11,785) ; whichever of (a) or (b) is higher. The minimum monthly guarantee offer (B) is equivalent to S$648,000 ($424,278) over the three-year contract period, which highlights the seeming generosity of Phoenicia's competing offer. The Civil Aviation Authority of Singapore (CAAS) is expected to make a decision on this concession shortly.
Phoenicia is also the top bidder in a two-horse race for the cigar concession at Changi Airport Terminal 3 with Pacific Lifestyle Concepts which also begins on January 1, 2008.
Phoenicia has offered an additional rental of either: (a) 25% of the total monthly gross sales; or (b) a minimum monthly guarantee of S$160,000 ($104,760); whichever of (a) or (b) is higher. This is equivalent to a guarantee over three years of S$5,760,000 ($3,771,361).
This compares with the bid from Pacific Lifestyle Concepts which has offered an additional rental of either: (A) (i) 6% of monthly gross sales (including Pre-Order/Ring-A-Cigar sales) for sales of up to S$150,000 ($98,212) per month; plus (ii) 7.5% of incremental monthly gross sales (including Pre-Order/Ring-A-Cigar sales) for sales exceeding S$150,000 per month and up to S$200,000 ($130,950) per month; PLUS (iii) 8.5% of incremental monthly gross sales (including Pre-Order/Ring-A-Cigar sales) for sales exceeding S$200,000 per month; or (B) (i) a minimum monthly guarantee of S$9,617 ($6,296); plus (ii) 9% of incremental monthly gross Pre-Order/Ring-A-Cigar sales exceeding S$20,000 ($13,095) per month; whichever of (A) or (B) is higher.