Written reply to PQ on Compilation of Biannual Sales Data for Gross-Turnover Rent and Efforts to Ensure Fair Negotiation Standards

Question

Mr Kenneth Tiong Boon Kiat: To ask 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 (e.g. by trade category and floor/zone) and bar aggregation across non-equivalent categories or floor to ensure fair negotiation. 

Written Answer by Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong

1. 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 1H 2026.