Sign up | Log in



Related Stories

October 25, 2008
Singapore: Weaker property market hits private home prices, developers

October 3, 2008
Home prices in Singapore see first drop in 4 yrs

July 26, 2008
Singapore: Home prices slow sharply in Q2

April 18, 2008
Singapore, Ho Chi Minh City among most expensive cities

March 25, 2008
HDB unveils mandatory resale checklists for housing agents

March 18, 2008
Home sales seen slumping to 5-year lows



November 11, 2008

Singapore Casino Project:
Developer says not in talks with Las Vegas Sands

Property developer CapitaLand has not held any talks with Las Vegas Sands over its Singapore casino-resort project, but will explore opportunities to invest in distressed assets, Reuters quoted the company as saying Monday.

The statement came after brokerage firm CIMB said in a report on Monday that CapitaLand, Southeast Asia's biggest property firm, and the Singapore government may take over the casino-resort if Las Vegas Sands fails to avert loan defaults.

Local newspapers have reported that Las Vegas Sands had held talks with the Singapore government about the project, which is targeted to open at the end of 2009.

"CapitaLand wishes to clarify that no discussion has transpired between itself and Sands," it said in a statement.

"In the present continuing global recessionary environment, it is strategically watching the situation and studying opportunities related to distressed companies or assets, in Singapore and other core markets," CapitaLand said.

CapitaLand is 40 percent owned by Singapore sovereign wealth fund Temasek Holdings.

Last week Las Vegas Sands affirmed its commitment to the Marina Bay project in Singapore as investors became concerned about its fate after the casino operator's auditor said there are doubts about the company's ability to continue as a going concern.

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2020 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand