What should a JTC business plan include?

The eight sections of Annex D

Annex D of JTC’s Lease Renewal Handbook, titled ‘Guide for Business Plan’, lists what JTC looks for when it assesses a business plan. It sets no projection period or pass marks. In our words, each section should show the following.

1. Company summary History, structure and finances; products or services; main customers and their share of revenue; main supplies; the workforce’s skills, experience and nationalities; awards; and performance over the past 3 years, with the reasons for it.
2. Market analysis Industry trends, the company’s market share, competitors and their shares, and current and potential customers.
3. Company strategies A SWOT analysis and the growth plan, including, where relevant, new products or markets, partnerships, new technology and new staff skills.
4. Financial assumptions and projections The basis for projected revenue (projects secured and to be secured), operating costs and staff pay, and how new capital investment will be funded, including undertakings from financial institutions.
5. Proposed employment Projected headcount and staff profile, and the basis for them.
6. Proposed use and implementation schedule Activities on the site by land or floor area and, where relevant, investment in buildings, plant and machinery, and steps to intensify land use.
7. Existing premises Every site the applicant operates from, including sites not leased from JTC.
8. Supporting documents Certifications and awards, memoranda of understanding, key contracts won or to be delivered, letters of undertaking from financial institutions, and proposed layout plans where relevant.

How JTC words its assessment

JTC’s handbook says that, as a developmental agency, JTC must see Singapore’s limited industrial land used productively in support of economic development. Neither the handbook nor JTC’s renewal and transfer pages give pass marks, weightings or benchmark figures for value-add, jobs or investment.

JTC words the themes as follows:

• Value-add: ‘value-add to the economy’ (renewal page), how the plan ‘value adds to the economy’ (handbook) and ‘value-add to the Singapore economy’ (transfer page).
• Jobs: the ‘creation of good quality jobs’ (renewal and transfer pages), ‘the creation of good jobs’ (transfer page assessment) and how the plan ‘creates quality jobs’ (handbook).
• Land use: land use intensified ‘as far as possible’, with the final gross plot ratio stated (handbook, for renewals).
• Investment: fixed asset investment such as plant and machinery (both pages), and how new and existing investment supports the business and its transformation (handbook).

How the plan is used for a lease renewal

For a renewal, the handbook asks for a business and site intensification plan showing how the business will stay relevant in the new term, for example through new business lines or technology that raises productivity. With it go the fixed asset investment, final gross plot ratio, jobs and pay, and revenue and costs, with pay, revenue and cost figures supported by audited statements.

JTC audits the committed details at the end of the investment period set in its offer, and pro-rates the lease term if committed plot ratio or plant and machinery investment falls short. The renewed term is up to 20 years, depending on the plans’ merits, delivery of committed investment and ‘the Government’s long-term plans for the site’.

How the plan is used for an assignment

For an assignment, the current lessee submits the incoming company’s business plan with the application. JTC evaluates it on its ‘value-add to the Singapore economy’ and on whether it creates good jobs, and asks it to cover fixed asset investment such as plant and machinery.

The transfer page does not refer to Annex D, but Annex D’s headings cover the same ground. On the faster track that began on 1 May 2026, JTC’s factsheet says qualifying applications skip the full assignment assessment; JTC checks the use against the approved industrial use and current policy and land-use guidelines instead.