Retailers who rent a store space within a shopping mall are required to submit a percentage of their monthly sales to the mall management as part of their rental cost. This requirement is referred to as the Gross TurnOver(GTO) and it is usually listed within the standard lease agreements when malls lease out their shop space.
Why Must You Submit GTO?
As GTO is part of the lease agreement, businesses that do not comply with it may face legal consequences from breaching the contract. These consequences may include having to forfeit the security deposit, terminating the rental earlier or worse, a forced eviction by the mall. It is therefore important for tenants to comply and submit a percentage of their sales as GTO every month.
Benefits of Automated GTO:
1. Cut time spent on GTO calculations and submissions
Manually calculating and submitting GTO can be a time-consuming and tedious task. With automated GTO submissions, retailers can save time and reduce potential human errors. The time saved could be used on higher priority tasks.
2. Automated resending of submissions
With automated GTO, any failed submissions would be automatically resent to the mall management. Automated GTO submissions could also be tracked to see if they had been successfully received.
3. Staying compliant
Automated GTO submissions are timely and prevent potential non-compliance penalties, such as fines or eviction.
Malls in Singapore
Here we have compiled the latest list of malls in Singapore, together with their respective mall management, for your ease of reference. All the mall managements listed below have adopted systems that support automated GTO.
|Shopping Mall Management||Shopping Mall|
|Capitaland||Aperia, Bedok Mall, Bugis Junction, Bugis Plus,Bugis Street, Bukit Panjang Plaza, Clarke Quay, Funan Digitalife Mall, IMM, ION Orchard, JCube, Jewel Changi Airport, Junction 8, Lot One, Plaza Singapura, Queensbay Mall, Raffles City, Sembawang Shopping Centre, SingPost Centre, Tampines Mall, The Atrium @ Orchard, The Star Vista, Westgate|
|Lend Lease||313@Somerset, JEM, Parkway Parade, City Square Mall, Paya Lebar Quarter|
|Frasers Centrepoint Malls||Anchorpoint, Bedok Point, Causeway Point, Century Square, Changi City Point, China Square Central, Eastpoint Mall, Hougang Mall, Northpoint City North Wing, Robertson Walk, Tampines 1, The Centrepoint, Tiong Bahru Plaza,Valley Point, Waterway Point, YewTee Point|
|Far East Organization||Bijou, Clarke Quay Central, Far East Square, Greenwich V, HillV2, Hougang 1, Icon Village, Junction 10, Katong V, Lucky Chinatown, Mess Hall at Sentosa, Orchard Central, Pacific Plaza, Riverside Point, Square 2, West Coast Plaza, Woods Square|
|Mercatus||AMK Hub, Jurong Point, NEX, Swing by @ Thompson Plaza|
|Marina Square/Singapore Land||Marina Square|
|MapleTree||18 Tai Seng, Alexandra Retail Centre, HarbourFront Centre, Mapletree Business City, Vivocity|
|Keppel Land||Katong i12, Keppel Towers, Marina at Keppel Bay, Keppel Bay Tower|
|Katong Holding||Katong Square|
|Singapore Sports Hub||Kallang Wave Mall|
|Pontiac Land||Millenia Walk|
|Capitol Singapore (Formerly Capitol Piazza)||Capitol Singapore|
|UOL||Faber House, Kinex (Formerly OneKM Shopping Mall) Novena Square, Odeon Towers, United Square Shopping Mall|
|Starhill Global Reit||Ngee Ann City, Wisma Atria|
|Allgreen Properties Limited||Great World City, Tanglin Mall, Tanglin Place|
|Marina Bay Sands (MBS)||MBS|
We specialise in GTO integration in Singapore!
Do you wish to automate your GTO submissions? Let us help you integrate your existing POS systems with the mall’s tenant management system! If you do not have a POS yet, we also have a wide variety of POS options for you to choose from.
Contact our friendly consultants at 6515 7906 or firstname.lastname@example.org to discuss your retail options!