Breaking news. Sickipoora won a contract to buld a new capital for an Indian State but now got fucked deep deep by Ah Nehs.

[A Singaporean]

 

[mojito]

They never learn.

 

[LITTLEREDDOT]

The naive Sinkie businessmen kena screwed badly.
Only one reason: they did not pay, or did not pay enough, bribes.

 

[creampie]

don't worry, we can afford to be contrarian.

lets find other fish to fry.

honest mistake.

no amount of foresight could have predicted this.

cotton comes from sheep.

healthy people no need wear mask.

singaporeans are idiots!

 

[laksaboy]

Reminder again: Iswaran visiting the motherland many times.

 

[laksaboy]

The naive Sinkie businessmen kena screwed badly.
Only one reason: they did not pay, or did not pay enough, bribes.

They couldn't even launch their supermarket business overseas, and they want to build an entire city.

They will find out that the world outside this little urban island shithole is vastly different... no cronies and compliant doggies who cheerfully do their bidding.

From Business Times
Published December 24, 2005

FairPrice's China hypermart joint venture bows out
Rescue deal offered by FairPrice but parties couldn't agree on terms

(SINGAPORE) Nextmall, the China hypermarket venture of NTUC FairPrice, is shutting down after racking up nearly $80 million in debts and more than $40 million in losses over the three years since it was formed.

Nextmall's eight hypermarket properties are being sold, which should help with debt repayment.

NTUC FairPrice International is writing off the US$12 million it paid for its 33.7 per cent stake in Nextmall. DBS Nominees, understood to be representing DBS Private Equity, holds a similar stake.

The rest of Nextmall is held by China billionaire Liu Yonghao's New Hope Group, real estate developer Dahua, and Taiwanese entrepreneur Chang I-Chang, who owns the Apex group in Taiwan.

Nextmall provides merchandising, management and logistics services to China-incorporated hypermarket operator, Nextmart, for a fee.

'We went in as financial investors to get a feel of China, and secondly to establish our purchasing office in China, which we have done,' said FairPrice assistant general manager (investments) Victor Lim.

'We were not involved in the day-to-day operations of Nextmall which were done by a local management team. It overextended itself, developing too many hypermarkets in a short span of time. In addition, Nextmall also ventured into two mall developments.'

That was partly how Nextmall racked up its debts. Nextmall's management team is headed by Taiwanese Andrew Shen.

Nextmall owes suppliers $30 million; banks, including DBS's Shanghai branch, $40 million; and the developer of a Nanjing property, $6.6 million.

'FairPrice even offered a rescue package to assume the majority stake in Nextmall and take over the day-to-day running in order to reverse the losses, but we could not agree on the terms stipulated by the other shareholders,' said Mr Lim.

Nextmall owned the Nanjing store and took long term leases of about 15 to 20 years each for the other seven hypermarket stores and malls.

It has so far disposed of two stores to Carrefour - in Shanghai's Qipao district and in Nanjing. Nextmall has also assigned its long-term master lease in the mall where its Qipao hypermarket was located to Singapore's CapitaLand group.

Nextmall has also divested its hypermarket store in Yuyao in Zhejiang province. It is finalising a deal to find buyers to take over its master leases for a mall and store in Shanghai's Paoshan district and is in talks to sell three other hypermarket stores in Taizhuo, Shaoxing and Keqiao - all in Zhejiang.

 

[batman1]

Good news ! Huat !!!

 

[bobby]

Fake news...the capital of Andhra Pradesh is SIngapore.

 

[Liquigas]

If there is no change in the Chief Minister, things will not turn out so bad for us like now.

 

[syed putra]

What are you all waiting for. I am on my way to visakhpatnam to be the first to deliver food.

 

[50000]

The naive Sinkie businessmen kena screwed badly.
Only one reason: they did not pay, or did not pay enough, bribes.

nothing to do with us ordinary sinkies, I believe the contract was awarded to Surbana so it was all within the familee.

I suppose after the Keppel/Brazil case, they didn't dare to offer at all to the new state government hence got screwed.

20 years from now, Amaravati will still look like SG coz all the CECA engineers currently in SG with HDB and the crony contractors will take all the current plans and drawings and start companies back home to duplicate it in Amaravati

 

[batman1]

What are you all waiting for. I am on my way to visakhpatnam to be the first to deliver food.

Sorry,Ah Neh got first priority to deliver food.

 

[CPTMiller]

The powerful people in Singapore won't care. They will just shout the command 'Next'

 

[Byebye Penis]

Punjab also sending 36 principals to Singapore this weekend for training programme
https://www.ptinews.com/news/north/...ncipals-to-singapore-for-training/506092.html

 

[Hightech88]

The whole world is already avoiding this Snakeland like a plaque except our kum gong PAP Gov, LOL.

India is destined for failure to be a Banana Republic, even their own CECA analyst says so.

 

[A Singaporean]

Many Government linked companies are involved using free money from CPF fund.

 

[JohnTan]

View attachment 178754

Isn't the capital of Andra Patesh at Chennai Business Park?