Oh Really? Then why you lay off 900?

[TeeKee]

Singapore DBS says no Las Vegas Sands loan default
Fri Nov 7, 2008 12:10am EST

SINGAPORE, Nov 7 (Reuters) - DBS Group (DBSM.SI: Quote, Profile, Research, Stock Buzz), Southeast Asia's biggest bank, said there had been no default or indication of a default from casino firm Las Vegas Sands Corp (LVS.N: Quote, Profile, Research, Stock Buzz) for its project in Singapore.

"There's been no default, no indication of default. The project is still going along," DBS's CEO Richard Stanley said on Friday. "I do expect there will be an integrated resort in Marina Bay in Singapore in 2010."

Shares in Las Vegas Sands, which is building one of two casinos in Singapore, fell as much as 44 percent on Thursday after the casino operator's auditor said there are doubts about the company's ability to continue as a going concern. [ID:nN06321876] (Reporting by Saeed Azhar and Kevin Lim; Editing by Lincoln Feast)

 

[zhihau]

"There's been no default, no indication of default. The project is still going along," DBS's CEO Richard Stanley said on Friday. "I do expect there will be an integrated resort in Marina Bay in Singapore in 2010."

i thought Marina IR opening in 2009??? another Punggol21 project?

 

[TeeKee]

i thought Marina IR opening in 2009??? another Punggol21 project?

Oops a slip of the tongue...:p

 

[lifeafter41]

Singapore DBS says no Las Vegas Sands loan default
Fri Nov 7, 2008 12:10am EST

SINGAPORE, Nov 7 (Reuters) - DBS Group (DBSM.SI: Quote, Profile, Research, Stock Buzz), Southeast Asia's biggest bank, said there had been no default or indication of a default from casino firm Las Vegas Sands Corp (LVS.N: Quote, Profile, Research, Stock Buzz) for its project in Singapore.

"There's been no default, no indication of default. The project is still going along," DBS's CEO Richard Stanley said on Friday. "I do expect there will be an integrated resort in Marina Bay in Singapore in 2010."

Shares in Las Vegas Sands, which is building one of two casinos in Singapore, fell as much as 44 percent on Thursday after the casino operator's auditor said there are doubts about the company's ability to continue as a going concern. [ID:nN06321876] (Reporting by Saeed Azhar and Kevin Lim; Editing by Lincoln Feast)

Technically he is correct. As LVS has not officially announced its intention to default or declare bankruptcy.

 

[cheekenpie]

i thought Marina IR opening in 2009??? another Punggol21 project?

no bro... another Singapore 2010!!

 

[zhihau]

Technically he is correct. As LVS has not officially announced its intention to default or declare bankruptcy.

pretty just as much as we're only technically in recession... so everyone please continue to spend... spend as much as possible within your means... so we wouldn't be technically in recession... must stimulate economy woh

 

[zhihau]

no bro... another Singapore 2010!!

bwahahaha... :p

 

[shelltox]

Yes there would difinitely be an IR at the Marina but it wouldnt be called Sands .

 

[TeeKee]

Yes there would difinitely be an IR at the Marina but it wouldnt be called Sands .

how about LKY using Taxpayers monies Resort?

 

[zhihau]

Yes there would difinitely be an IR at the Marina but it wouldnt be called Sands .

you mean there will be another re-naming exercise? how much to re-brand it? SGD$500,000.00? i'll rename it Marina Bay Integrated Resorts ;p

 

[Neh_Neh_Pok]

how about LKY using Taxpayers monies Resort?

Ooo is it? Your pestors told you all these on LKY?:eeK: Got evidence or not? If no hor, you or your pestors will get sue by him if he knows about it leh

 

[VeryWise]

To remove 900 of your work force is a pretty drastic measure. It means that DBS is really facing tough challenges ahead. Ot they have seen things coming in the next few quarters that they think it's prudent to cut expenses now to meet profit targets.

 

[popdod]

The Golden Period has come......aren't you guys excited??

:( :o :(

 

[sage]

In other countries I think not acceptable for a foreigner to announce mass retrenchment involving locals.

 

[hearthard]

DBS has decided to compensate those involved in the mini bonds but doesn't want to fork out extra money, so have to use the 900 staff salary instead. The 900 to be laid off are from SG and HK. The mini bonds saga is also from both countries.

 

[popdod]

In other countries I think not acceptable for a foreigner to announce mass retrenchment involving locals.

Foreigner turned citizen...becomes local.
Lidat can or not?

:o :o

 

[Bigfuck]

If Leegime wanna do business, then fire 6% of civil service

 

[makapaaa]

Cos they hold pink ICs?​

 

[myo539]

i thought Marina IR opening in 2009???

I don't think Marina Sands would think it strategically and commercially prudent to open the casino later than planned. It would mean either clashing with the Opening of Genting or after Genting at Sentosa. That would take the shine out of Marina Sands.

The project appears to be fast taking shape. It would be interesting to fix a video camera - like those many along the expressway - on one of the high buildings overlooking the Marina such as One Marina and track the development of the project from beginning to the official opening. It would be a fantastic archive of the iconic project of Singapore.

 

[halsey02]

Singapore DBS says no Las Vegas Sands loan default
Fri Nov 7, 2008 12:10am EST

SINGAPORE, Nov 7 (Reuters) - DBS Group (DBSM.SI: Quote, Profile, Research, Stock Buzz), Southeast Asia's biggest bank, said there had been no default or indication of a default from casino firm Las Vegas Sands Corp (LVS.N: Quote, Profile, Research, Stock Buzz) for its project in Singapore.

"There's been no default, no indication of default. The project is still going along," DBS's CEO Richard Stanley said on Friday. "I do expect there will be an integrated resort in Marina Bay in Singapore in 2010."

Shares in Las Vegas Sands, which is building one of two casinos in Singapore, fell as much as 44 percent on Thursday after the casino operator's auditor said there are doubts about the company's ability to continue as a going concern. [ID:nN06321876] (Reporting by Saeed Azhar and Kevin Lim; Editing by Lincoln Feast)

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From Asia lumpar one.com....

Sands in loan talks

Las Vegas Sands is seeking funding to stave off defaulting on loans. -ST

Fri, Nov 07, 2008
The Straits Times

SHELDON Adelson, the billionaire who controls Las Vegas Sands Corp., held talks with the Singapore government this week as a cash shortage threatens the company's US$4 billion (S$5.9 billion) casino development here, a person with knowledge of the meetings told Bloomberg news on Friday.

Las Vegas Sands is seeking funding to stave off defaulting on loans while facing 'substantial doubt' about its ability to survive as a going concern, the casino owner said on Thursday in a filing. Las Vegas Sands and government officials will publicly pledge to complete the project in Singapore, said the person, who declined to be identified because the information isn't public.

Thursday's filing raised concerns that dwindling cash flow may jeopardize US$16 billion of casino developments in Macau, China and Singapore, where Las Vegas Sands seeks to cater to wealthy Asian gamblers. Restrictions on Chinese who want to visit Macau may damp gambling revenue in the city where the company operates Asia's biggest casino resort.