Compilation of Biannual Sales Data for Gross Turnover Rent and Ensuring Fair Negotiation Standards

6 Mr Kenneth Tiong Boon Kiat asked the Deputy Prime Minister and Minister for Trade and Industry given the Lease Agreements for Premises Act and the Code of Conduct requiring landlords collecting gross-turnover rent to share biannual sales data (a) how does the Ministry monitor data granularity and compilation; and (b) whether the Ministry will mandate like-for-like standards, for example, by trade category and floor/zone, and bar aggregation across non-equivalent categories or floor to ensure fair negotiation.

Mr Gan Kim Yong: The Code of Conduct for Leasing of Retail Premises in Singapore requires landlords who collect sales data from their tenants as part of the Gross Turnover rental formula, to share aggregated sales data by trade category bilaterally with each tenant before signing the lease agreement and every six months during the lease.

There is currently no industry-wide standard for trade categorisation, and evolving business models, such as hybrid retail and new food and beverage formats, may also impact how trades are categorised. The Fair Tenancy Industry Committee is engaging with industry stakeholders to study this issue in greater depth as part of the ongoing review of the Code, which is expected to be completed in the first half of 2026.