<TABLE cellSpacing=0 cellPadding=0 width=452 border=0><TBODY><TR><TD vAlign=top width=452 colSpan=2>Published April 15, 2009
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>Govt ready to pump more funds into YOG
No stone will be left unturned to make sure event runs smoothly: Ser Luck
By LEE U-WEN
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THE government will not hesitate to commit extra resources if needed - beyond the US$75 million already pledged - to the inaugural 2010 Youth Olympic Games (YOG) in Singapore.
<TABLE class=picBoxL cellSpacing=2 width=100 align=left><TBODY><TR><TD>
</TD></TR><TR class=caption><TD>Mr Teo: 'US$75 million is our original estimate, but things evolve' </TD></TR></TBODY></TABLE>Notwithstanding the economic downturn, Singapore has promised the international community a successful and memorable event, said Teo Ser Luck, Senior Parliamentary Secretary for Community Development, Youth and Sports, and Transport.
'US$75 million is our original estimate, but things evolve,' he told BT. 'Should we need to commit ourselves a little further to lift YOG to make sure everyone - visitors, spectators, athletes, supporters - gets a great experience, then we will have to do that.'
Almost 3,600 athletes aged 14-18 years will come to Singapore in August 2010 to compete in 26 different sports. Thousands of officials and scores of VIPs will also be on hand.
Mr Teo, one of the key men behind Singapore's winning bid to host the Games, said no stone will be left unturned to make sure the 13-day event runs smoothly.
'If anything is needed, such as upgrading facilities to help them reach international standards, then we will have to commit those resources,' he said.
However, the government will continue to act prudently as Singapore is suffering its worst recession since the country's independence.
Mr Teo explained that in August last year, the YOG organising committee decided to move the Games Village from the National University of Singapore (NUS) to Nanyang Technological University because costs had soared to two-and- a-half times the original budget.
Besides spiralling construction and fuel costs, the government would have had to fast-track the development of the NUS campus to make it ready in time for the YOG. 'That shows we are watching the cost,' Mr Teo said.
Before YOG comes to town, there is the first-ever Asian Youth Games to look forward to in June this year which Singapore is also hosting and using as an opportunity to test and fine-tune facilities for YOG.
Mr Teo said that despite the organising committee having exceeded its target for YOG by raising more than $3 million in sponsorship so far, the door is open to more sponsors.
'There are still many companies who are interested,' he said. 'It's not too late for them to join us. It's a matter of whether we can come to an agreement on the contribution, as well as determine the types of benefits they can get by being a sponsor.'
Most of the sponsorship so far has been value- in-kind, Mr Teo said. Companies treat it as a form of 'cost saving' during the downturn, as well as a marketing strategy to tap the Olympic brand to raise awareness of their products or services, or even to launch something new.
'Of course, cash is what any organiser would prefer because there is that immediate flexibility to use it where needed,' he said. 'But we are open to ideas and we want companies who have a strong idea of what they want to do, so we can synergise or align them with our own objectives.'
</TD></TR></TBODY></TABLE>
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>Govt ready to pump more funds into YOG
No stone will be left unturned to make sure event runs smoothly: Ser Luck
By LEE U-WEN
<TABLE class=storyLinks cellSpacing=4 cellPadding=1 width=136 align=right border=0><TBODY><TR class=font10><TD align=right width=20>
</TD><TD>Email this article</TD></TR><TR class=font10><TD align=right width=20>
</TD><TD>Print article </TD></TR><TR class=font10><TD align=right width=20>
</TD><TD>Feedback</TD></TR></TBODY></TABLE>THE government will not hesitate to commit extra resources if needed - beyond the US$75 million already pledged - to the inaugural 2010 Youth Olympic Games (YOG) in Singapore.
<TABLE class=picBoxL cellSpacing=2 width=100 align=left><TBODY><TR><TD>
</TD></TR><TR class=caption><TD>Mr Teo: 'US$75 million is our original estimate, but things evolve' </TD></TR></TBODY></TABLE>Notwithstanding the economic downturn, Singapore has promised the international community a successful and memorable event, said Teo Ser Luck, Senior Parliamentary Secretary for Community Development, Youth and Sports, and Transport.'US$75 million is our original estimate, but things evolve,' he told BT. 'Should we need to commit ourselves a little further to lift YOG to make sure everyone - visitors, spectators, athletes, supporters - gets a great experience, then we will have to do that.'
Almost 3,600 athletes aged 14-18 years will come to Singapore in August 2010 to compete in 26 different sports. Thousands of officials and scores of VIPs will also be on hand.
Mr Teo, one of the key men behind Singapore's winning bid to host the Games, said no stone will be left unturned to make sure the 13-day event runs smoothly.
'If anything is needed, such as upgrading facilities to help them reach international standards, then we will have to commit those resources,' he said.
However, the government will continue to act prudently as Singapore is suffering its worst recession since the country's independence.
Mr Teo explained that in August last year, the YOG organising committee decided to move the Games Village from the National University of Singapore (NUS) to Nanyang Technological University because costs had soared to two-and- a-half times the original budget.
Besides spiralling construction and fuel costs, the government would have had to fast-track the development of the NUS campus to make it ready in time for the YOG. 'That shows we are watching the cost,' Mr Teo said.
Before YOG comes to town, there is the first-ever Asian Youth Games to look forward to in June this year which Singapore is also hosting and using as an opportunity to test and fine-tune facilities for YOG.
Mr Teo said that despite the organising committee having exceeded its target for YOG by raising more than $3 million in sponsorship so far, the door is open to more sponsors.
'There are still many companies who are interested,' he said. 'It's not too late for them to join us. It's a matter of whether we can come to an agreement on the contribution, as well as determine the types of benefits they can get by being a sponsor.'
Most of the sponsorship so far has been value- in-kind, Mr Teo said. Companies treat it as a form of 'cost saving' during the downturn, as well as a marketing strategy to tap the Olympic brand to raise awareness of their products or services, or even to launch something new.
'Of course, cash is what any organiser would prefer because there is that immediate flexibility to use it where needed,' he said. 'But we are open to ideas and we want companies who have a strong idea of what they want to do, so we can synergise or align them with our own objectives.'
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