Govt: No aid for sinking Sands

[CENWEN]

Govt: No aid for sinking Sands

The S'pore govt. says it will not bail out Las Vegas Sands should it fail to fund the Marina Bay IR.

<cite class="auth">Channel NewsAsia - 2 hours 41 minutes ago
</cite>SINGAPORE: The Singapore government said Wednesday it will not bail out the troubled US gaming firm Las Vegas Sands should it fail to fund the Marina Bay Sands integrated resort.

<!--Vendor: Yahoo, Format: Standard --><script language="javascript"> if(window.yzq_d==null)window.yzq_d=new Object(); window.yzq_d['k6zTanxseNI-']='&U=13fln3aso%2fN%3dk6zTanxseNI-%2fC%3d707048.13076240.13278274.2013436%2fD%3dLREC%2fB%3d5539901%2fV%3d1'; </script><noscript>

</noscript>Senior Minister of State for Trade and Industry S Iswaran said there has been no request from Sands for a bail out so far. Sands has been working to avoid defaulting on bank covenants and announced on Tuesday that it was raising some US$2 billion in capital. There have been concerns about whether Sands has the financial ability to finish the resort at Marina Bay, after it ran into financial difficulties. Mr Iswaran, who was speaking on the sidelines of an industry conference, said the government and Sands have a development agreement which specifies clear rights for both parties. He revealed that Sands had asked the Singapore Tourism Board to adjust the timelime for the construction of the Marina Bay Sands resort. The government is reviewing the request to see if it will conflict with its own plans for an integrated resort to be built by 2009. Mr Iswaran added there is no reason to think that a large proportion of planned jobs for the project will be lost, although they may be put on hold. While the government would not participate in any bailout of Sands, Mr Iswaran did not rule out the involvement from government—linked companies, which are commercial entities.
— CNA/yt

 

[theblackhole]

now i want to trust and believe our world class governance. say no to sands.if cannot,forfeit and take over the project ourselves. sands has no choice but to secure its own funds.

now our world governance is showing its true colours. stand firm.no bail out. you bankrupt your business.don't ask me for bail out and then you disappear. and ask for some more bail out like aig. singapore governance is world class. well done singapore. you stood firmly against sands castles. you stood firmly and said no. you are great man!

if sands cannot proceed,we can take over. no problem.

now i know why singapore is the best governance in the whole wide world. now i say majulah singapura!!!

 

[The_Latest_H]

They may not wanna save Sands, but they have their Golden Goose, and the local banks. Sands can sink into the quicksand- pardon the pun- but I don't think they wanna see DBS and other banks sink as well due to the massive loans Sands has taken out.

If DBS and other local banks sink into the m&d, the damage to the reputation of Singapore banking system will be very bad- and confidence, especially of overseas people who have fortunes parked in private bank accounts here, will be shaken.

Bank runs are not what the PAP wants right now, and they will want to ensure that DBS doesn't get into more trouble as they are already right now. The same goes for UOB as well.

 

[sand_ban]

Govt: No aid for sinking Sands

The S'pore govt. says it will not bail out Las Vegas Sands should it fail to fund the Marina Bay IR.

<cite class="auth">Channel NewsAsia - 2 hours 41 minutes ago
</cite>SINGAPORE: The Singapore government said Wednesday it will not bail out the troubled US gaming firm Las Vegas Sands should it fail to fund the Marina Bay Sands integrated resort.

<!--Vendor: Yahoo, Format: Standard --><script language="javascript"> if(window.yzq_d==null)window.yzq_d=new Object(); window.yzq_d['k6zTanxseNI-']='&U=13fln3aso%2fN%3dk6zTanxseNI-%2fC%3d707048.13076240.13278274.2013436%2fD%3dLREC%2fB%3d5539901%2fV%3d1'; </script><noscript>

</noscript>Senior Minister of State for Trade and Industry S Iswaran said there has been no request from Sands for a bail out so far. Sands has been working to avoid defaulting on bank covenants and announced on Tuesday that it was raising some US$2 billion in capital. There have been concerns about whether Sands has the financial ability to finish the resort at Marina Bay, after it ran into financial difficulties. Mr Iswaran, who was speaking on the sidelines of an industry conference, said the government and Sands have a development agreement which specifies clear rights for both parties. He revealed that Sands had asked the Singapore Tourism Board to adjust the timelime for the construction of the Marina Bay Sands resort. The government is reviewing the request to see if it will conflict with its own plans for an integrated resort to be built by 2009. Mr Iswaran added there is no reason to think that a large proportion of planned jobs for the project will be lost, although they may be put on hold. While the government would not participate in any bailout of Sands, Mr Iswaran did not rule out the involvement from government—linked companies, which are commercial entities.
— CNA/yt

Don't blame the poor fucking PAP govt.

Blame Indonesian president - SAND ban.

That's why they fucked SAND casino.

 

[lucin4]

Indian speaks with forked tongue; PL must be LP. GLCs or otherwise, it is still gahmen money.

 

[congo9]

They may not wanna save Sands, but they have their Golden Goose, and the local banks. Sands can sink into the quicksand- pardon the pun- but I don't think they wanna see DBS and other banks sink as well due to the massive loans Sands has taken out.

If DBS and other local banks sink into the m&d, the damage to the reputation of Singapore banking system will be very bad- and confidence, especially of overseas people who have fortunes parked in private bank accounts here, will be shaken.

Bank runs are not what the PAP wants right now, and they will want to ensure that DBS doesn't get into more trouble as they are already right now. The same goes for UOB as well.

Have to agree with you , why save SAND ? They just don want the casino to sink and the bank loan will sink with SAND if they do not save the project ! It will be a big blow to their EGO !

 

[Merl Haggard]

Govt: No aid for sinking Sands

The S'pore govt. says it will not bail out Las Vegas Sands should it fail to fund the Marina Bay IR.

<cite class="auth">Channel NewsAsia - 2 hours 41 minutes ago
</cite>SINGAPORE: The Singapore government said Wednesday it will not bail out the troubled US gaming firm Las Vegas Sands should it fail to fund the Marina Bay Sands integrated resort.

<!--Vendor: Yahoo, Format: Standard --><script language="javascript"> if(window.yzq_d==null)window.yzq_d=new Object(); window.yzq_d['k6zTanxseNI-']='&U=13fln3aso%2fN%3dk6zTanxseNI-%2fC%3d707048.13076240.13278274.2013436%2fD%3dLREC%2fB%3d5539901%2fV%3d1'; </script><noscript>

</noscript>Senior Minister of State for Trade and Industry S Iswaran said there has been no request from Sands for a bail out so far. Sands has been working to avoid defaulting on bank covenants and announced on Tuesday that it was raising some US$2 billion in capital. There have been concerns about whether Sands has the financial ability to finish the resort at Marina Bay, after it ran into financial difficulties. Mr Iswaran, who was speaking on the sidelines of an industry conference, said the government and Sands have a development agreement which specifies clear rights for both parties. He revealed that Sands had asked the Singapore Tourism Board to adjust the timelime for the construction of the Marina Bay Sands resort. The government is reviewing the request to see if it will conflict with its own plans for an integrated resort to be built by 2009. Mr Iswaran added there is no reason to think that a large proportion of planned jobs for the project will be lost, although they may be put on hold. While the government would not participate in any bailout of Sands, Mr Iswaran did not rule out the involvement from government—linked companies, which are commercial entities.
— CNA/yt

So Temasick or GIC came forward to rescue Sands and for this reason Sands is going
ahead to complete the Marina Bay IR, but not the half-finished projects in Macao.

Ex-taxi driver, Sheldon Adelson spent the whole of last week in town did pay off after all.

 

[theblackhole]

it's time we stand up against the red haired demons and con men. no means no. you want on our terms and on our turf.

 

[cass888]

Capital Land or Keppel Land can buy the infrastructure and licence cheap.

now i want to trust and believe our world class governance. say no to sands.if cannot,forfeit and take over the project ourselves. sands has no choice but to secure its own funds.

now our world governance is showing its true colours. stand firm.no bail out. you bankrupt your business.don't ask me for bail out and then you disappear. and ask for some more bail out like aig. singapore governance is world class. well done singapore. you stood firmly against sands castles. you stood firmly and said no. you are great man!

if sands cannot proceed,we can take over. no problem.

now i know why singapore is the best governance in the whole wide world. now i say majulah singapura!!!

 

[theblackhole]

Capital Land or Keppel Land can buy the infrastructure and licence cheap.

good for singapore! we own everything in the casion business - good for singapore's world class governance. this is heaven's blessing. sands failed to secure loans.sands failed to proceed. sands going bankrupt. now singapore casion boom time! well done singapore! u boleh lah! i say once again: majulah singapura!!!

 

[sage]

No need for gahment bailout. Personal investment from 1 or 2 individuals or families sufficient.

 

[Bigfuck]

Bra Bra no credliblity Lee Ching Leegime.

 

[cass888]

good for singapore! we own everything in the casion business - good for singapore's world class governance. this is heaven's blessing. sands failed to secure loans.sands failed to proceed. sands going bankrupt. now singapore casion boom time! well done singapore! u boleh lah! i say once again: majulah singapura!!!

Capital M, Capital S, thank you.

Just make sure they buy Sands at a discount. Don't try to bail out DBS, OCBC and UOB. Fire sale is fire sale.