By Chen Shiyin |
2008-11-11 |
SINGAPORE'S government may form a venture with CapitaLand Ltd to
take over one of the island's two casino resorts if Las Vegas Sands
Corp fails to stave off loan defaults, CIMB-GK Research Pte has
said.
Las Vegas Sands, the gaming company that said last week it may
default on debt and face bankruptcy, reiterated last Saturday that
it's committed to the US$4 billion Singapore resort.
The company has drawn down at least S$2 billion (US$1.3 billion)
from a S$5-billion credit facility by several banks for the
project.
"If Las Vegas Sands cannot cough up its share of equity, the
Singapore government is likely to step in," Donald Chua, a
Singapore-based analyst at CIMB-GK, wrote in a report yesterday. "A
viable option could be a 49:51 joint venture between the government
and CapitaLand, with CapitaLand taking a controlling stake in the
project."
http://www.shanghaidaily.com/article/shdaily_sing.asp?id=380129&type=Business&page=0
Even people in Shanghai noticed this funny policy
change......
Govt says no subsidized healthcare, transport.......no subsidy
mentality allowed.
But govt willing to bailout American angmo Casino........What a
laughing stock.....
Your CPF money goes to pay for gambling operations and high
bonuses for angmo executives........ You still keep quiet? You
agree with this policy?
You still believe our leaders are right ?
