Genting IR Vs Marina Bay Sands IR

Read thru BT this morn and found this interesting article about Genting IR Vs Marina Bay Sands IR... check this out below

GENTING Singapore's Resorts World at Sentosa (RWS) will benefit from construction delays at Marina Bay Sands (MBS) caused by problems with weather and sub-contractors.

DBS Vickers said: 'The second delay in the soft launch of MBS will further enhance RWS's first mover advantage.'

DBS Vickers also said that 'RWS should be able to catch the Chinese New Year peak season and lock in local market share', highlighting that the $2,000 annual pass in lieu of $100 per entry to be paid by Singapore residents is exclusive to one casino.

'RWS is on track to open in January 2010 and has submitted its casino licence application - now pending finalisation of the Casino Control Act and interviews of employees by the authorities,' it said, adding that RWS has already recruited about 6,000 staff out of a target of 8,000.

The research note comes a day after Las Vegas Sands chairman Sheldon Adelson said the opening date for MBS had been pushed back from the first quarter of 2010 to Q2.

Speaking at a news conference, he attributed the delays to rain and certain sub-contractors going bankrupt.

Mr Adelson also shed light on the prospect of junket operators, saying that few, perhaps even none, will operate here.

In its research note, DBS Vickers said a strict junket licensing regime will be in place 'and we believe the Singapore government will be pragmatic in ensuring both integrated resorts will be a success'.

For RWS, DBS Vickers expects gaming revenue to come mainly from the grind segment, contributing about 60 per cent of gaming revenue.

'Universal Studios should help draw in the mass market, differentiating RWS from MBS's MICE/business visitors focus and help diversify revenue base,' it said. It expects non-gaming revenue to contribute 25-30 per cent of RWS's total revenue.

'In any case, a higher percentage of direct VIP business should help boost margins given the typical lower rebates compared with junket commissions,' it said. 'Although this could lead to higher default risk, we believe it should be easier to conduct credit checks and enforce debts given Singapore's target market.'

Sands pushed back Marina Bay Sand Opening

It is reported that Marina Bay Sands Integrated Resorts have delay their opening to likely mid April next year. The hotel rooms,casino, partial shops and restaurant will be open first follow by the rest of the integrated resorts 45-60days later.

By December 2010, the rest of the resort like museum and threatres will be fully open. Sands will also prepare their staff for training early of next year for the preparation of the IR opening.

Marina Sands Opening 2010

Good news for those awaiting the opening of our IR, extract from The Business Time report today

Las Vegas Sands Corp expects to open its US$5.5 billion, 2,700-room Singapore integrated resort in phases starting in the first quarter of next year, a company spokesman said on Thursday.

The first phase of the project will also include the casino, some of the retail operations and some of the meeting and convention space. He declined to give a specific date for the opening - which will include 800 to 1,000 hotel rooms - but a source close to the company said it would be 'toward the end of March'.

The first phase of the project will also include the casino, some of the retail operations and some of the meeting and convention space, said spokesman Ron Reese.

Sands said in July that it was making every effort to open the triple-tower property, called Marina Bay Sands, by Feb 15, 2010.

The company is now in the process of raising segments of the resort's 'sky park' - a 1,200-foot-long (360-metre) span running across the top of the three 55-story hotel towers.

Half of the 14 segments are in place.

About 60 days after the opening of the project's first phase, Sands aims to open the remainder of the hotel rooms, additional retail space and the sky park, Mr Reese said.

By the end of 2010, the company expects the rest of the attractions, including the theatres and museum, to open.

AFA09

This weekend at Suntec is the annual Anime Festival Asia which will feature many events and activities for Japanese animation, comics, cosplay lover.

Having been to Japan early of last month and see many creative, cute and nnovating things in Tokyo, I began to love Japan even more and hope to recapture the Japanese atmosphere while visiting AFA09 event this weekend...

To find out more, do visit their official site

AFA Official Website

APEC

This week is a exciting week for Singapore as world leaders and business leaders from all over the World are here in town for APEC CEO Summit 2009 meeting held at Suntec.

There are alots of on-going meeting and conferences for top leaders to discuss about the recovery of global economy and how to enhances and improve trades and business all over the globe

Singapore Hedge Funds Review

It is reported in this week The Edge that Hedge Funds in Singapore is seeing increasing activities and is home to 138 hedge fund managers according to a recent survey by Alternative Investment Management Association (AIMA)

Here are some interesting finding...

- Average assets under management of single hedge fund is est US$301m. in aggregate at least US$34.9b

- No of professional employed by the 111 respondent single hedge fund is 823

- Equity Long / Short account 47% of fund

- Geographical source of investors for single strategy fund
15% America, 54% Asia, 25% Europe, 1% Middle East, 6% others

- Source of capital by investor
17% funds of funds, 38% high nett worth, 37% institution, 5% propriety and 3% other

- 12 hedge funds run from Singapore advising about US$10b in asset from city state

- All Singapore based hedge fund managers outsourcing their fund administration.

RoomsDB Room Rental Service

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Singapore Top 10 Wealthiest

According to a recent report from Forbes Asia which released its list of top 40 tycoons in Singapore, the total net worth of Singapore top 40 wealthies people stand at US$39 Billions.

Here are a glance on Singapore Top Ten Richest List

1) Mr Ng Teng Fong (US$8b)
2) The Khoo Family (US$5.5b)
3) Mr Kuok Khoon Hong (US$3.5b)
4) Kwee Brother (US$3.2b)
5) Mr Wee Cho Yaw (US$3.1b)
6) Mr Zhong Sheng Jian (US$2b)
7) Mr Peter Lim (US$1.5b)
8) Mr Kwek Leng Beng (US$1.2b)
9) Mr Lee Seng Wee (US$800m)
10) Mr Ong Beng Seng & Christine Ong (US$700m)

Sentosa IR Hiring 5,000 Positions

Resorts World at Sentosa will began another recruitment drive to fill up 5000 position this weekend. It has currently filled 10% of its workforce and estimate to have 7000 staffs by Oct 09 and a total of 10,000 by early of next year 2010.

The job fair will be held at RWS job fair on sat to sun (22-23 Aug) located at Employment and Employability Institue (e2i) building at 141 Redhill Road Block A #01-01 and will open from 9am to 5pm.

All interested appliciants are advised to bring their certificates, resumes and passport size photos along as interviews will be conducted on the spot.

Investfair09

Investfair09 will be held at Suntec Convention City @ Hall 402-403 this coming weekend 22-23 Aug with several interesting speakers speaking at the seminars to educate investors and traders about economy and market outlook.

Jointly organised by Shareinvestor and The Business Times, this year attendance is expected to hit 20,000 visitors

Checkout their official websitefor more information

Official Investfair 2009

Sentosa IR Jobs Recruitment

Resorts World at Sentosa is ramping up its job hiring efforts, and hopes to fill more than 8,000 job vacancies - including that of croupiers and hotel staff by the end of this year.

It already has 760 employees in its fold - of which 82 per cent are Singaporeans.

It will be carrying out a mass hiring exercise in October, and is looking at employing over 8,000 people.

Some job vacancies that need to be filled include theme park operators, and casino and F&B staff.

By December, the resort hopes to have some 10,000 employees.

It is working with the five Community Development Councils (CDCs) in its recruitment drive.

The resort said Tuesday it is on track to open on schedule next year.

Marina Sands Bay Dealers Recruitment

Marina Bay Sands is hosting an recruitment drive esp for DEALER positions at Suntec City Hall 603 to fill up over 1,000 position this weekend (1-2 Aug 09). There will be experts around to explain the requirement and job scope of an DEALER position.

An applicant for the position of a dealer should be over 21 years old, know basic mathematics and pass a colour-blind test. Experience is not needed as successful applicants will go through an intensive three-month training course at Mountbatten Square, fully paid for by the casino. Training will start in the fourth quarter of this year.

Those who complete the course will receive a Workforce Skills Qualifications Certificate in Casino Gaming.

A career in the gaming industry is a great career move and salary + perks are extremely attractive. There is also a career path from DEALER on upward also.

Asia Investment Fair 2009

Today will be the 1st day of the Asia Investment Fair 2009 which will be held at Suntec City Hall 601.

There will be over 50 seminars to educate investors about the finanical markets as well as economy and market outlook for the rest of the 2009.

Organised by SIAS and admission is FREE. Do visit their official site for more details

Asia Investment Fair 2009

Marina Bay Sands Delay Opening

SINGAPORE - THE opening of Singapore's first casino has been put back several months due to shortages of labour and materials, the chairman of developer Las Vegas Sands said on Wednesday.

Sheldon Adelson said Marina Bay Sands will open early next year for its initial phase, after being originally slotted to welcome its first visitors by the end of this year.

'The opening date we seriously anticipate will be in January or February,' Mr Adelson told journalists and guests at a ceremony marking the finishing of construction of the development's three 55-storey hotel towers.

Mr Adelson on Wednesday put the total cost of the development at $8.0 billion.

Marina Bay Sands is Singapore's first casino project to be awarded, in 2006. As well as gaming, the complex will include hotel, convention, luxury retail and performing arts facilities.

A second casino, Resorts World at Sentosa, is scheduled to open in phases also starting early 2010 and will feature the world's biggest oceanarium with 700,000 fish and a Universal Studios theme park.

Extract from AFP

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Singapore Jobs Market

Singapor current job market is currenntly quite tight and many companies had already freeze hiring and start retrenchment early to battle this sever recession.

However our Singapore Government had introduce several measures including this popular e2i one-stop service.

e2i is a one-stop shop that provides the avenues for employability assessment and coaching, skills training and job placement for workers. Their programmes are customised to cater to a broad spectrum of workers, including retrenched workers, back-to-work women, professional managers, executives and technicians (PMETs), low-wage workers and older workers.

3 Keys Function

1) Develops partnerships with training providers
2) Reaches out to jobseekers who seek new or better jobs
3) Promotes industry re-development and job-recreation

To know more about e2i events and jobs available, do visit
their official website

e2iOfficial Site

Temasek Sold All of Its Bank of America Shares

It is reported yesterday that Singapore soverign wealth fund Temasek Holding had sold all its shares in Bank of America in the 1st quarter of 2009, resulting in estimated losses of between US$2.3b to US$4.6b.

Temasek's investment n BoA start from its investment in Merrill Lynn which it held a 13.7% stakes. It is later converted into BoA shares in Jan follow the bank M&A of Merill Lynn resulting in a 3% of BoA or 188.8 million shares.

Many interesting views and opinions are share in investment & market talks forum about their massive losses and their so call "long term" investment holding. Do feel free to check them out.

The Credit Crisis I

A very detail but simplifed summary of the current world credit crisis - why and how it happen.

The Credit Crisis II

A very detail but simplifed summary of the current world credit crisis - why and how it happen.

Li Ka Shing Has Spoken !

The Sage of Hong Kong Mr Li Ka Shing has spoken - It is time to buy stocks and real estate

On Thursday, the self-made billionaire who control several top Hong Kong listed companies such as Cheung Kong and Hutchison Whampoa made a rare public appearance and speech to the investors.

The Tycoon says "If you have money in the pocket, connsider buying stocks". For property market in Hong Kong, he said "History tell us if you buy in slow market and in the medium term, you will get a good return.

He did cautious about borrowing to invest in the shaky and volatile market thought.

Resorts World at Sentosa

Recently Resorts World at Sentosa, one of Singapore two Integrated Resorts had seen overwell response for its jobs application. More than 20,000 applications received for the 800 positions advertised during a career fair held 2 weeks back.

Resorts World had had so far hired 400 people, mostly in management and corporate office and is expected to hire another 10,000 workers, the bulk whom will be hired
from this June onwards, when the IR open in 2010.

Batam Integrated Resort Soon ?

It is reported on the Jakarta Post that a second Integrated Resort will be built in the Riau Island of Batam Indonesia after Bintan. It will start construction work next month and target to complete by 2011.

The 15 hectare integrated tourism and business resorts is worth 1.5 trillions rupiah (about S$193m) and will be develop by Pt Grand Uway. It will have a water park with rides and pitched for Meeting, Incentive, Convention, Exhibiton (MICE) trade.

Marina IR on track to open late 2009

SINGAPORE - Singapore's first integrated resort (IR) is on track to open by the end of the year despite the global financial and tourism slump, project developer Las Vegas Sands said on Wednesday.

At least half of the Marina Bay Sands complex, which is located in Singapore's financial district, will be operating commercially at the end of 2009

The resort is one of two integrated projects under development in Singapore. A second one is being built on nearby Sentosa island, which has beach, golf and yachting facilities.

The Marina Bay Sands, with an investment cost of over US$5 billion, was Singapore's first IR project to be awarded, in 2006. Apart from gaming, the complex will also include hotel, convention, luxury retail and performing arts facilities.

(Extract from The Business Time Report)

Singapore Career Fair 2009

One of Singapore biggest Career Fair will be held at Suntec City Hall 6 on the 5-8 March 2009. Many jobs will be offer and at the same time there will be education booths for individual to uggrade themselves for their future.

There will also be seminar talks daily with regards to specialise careers and educational study. Please visit the below site for more detail

Singapore Careers Fair 2009

Ten Investment Ideas 2009

Came across this article from The Edge Singapore and find it very interesting to share with readers. Bargain hunters looking for the best investment deals in the markets have another alternative ideas

1) Investment-grade credits - best bets in bond asset class

2) Cheap value in inflation-linked bonds

3) Stay in defensive equity sectors, avoid finanicals and cyclicals

4) Overweight on Asia ex-japan stocks in 2H2008

5) Bet on China and Hong Kong stockes to outperform

6) Focus on recession winners eg like Capitamall Trust,
ICBC, Bank of China, Ascendas REIT, Keppel Corp,
Sembcorp Industries, Taiwan Mobile etc

7) Stick with high-dividend paying stocks

8) Have gold in your investment portfolio

9) Take a look at soft commodities, seeing support level.

10) Hedge Fund strategy - Global macro and managed futures could do well

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