Originally posted by yizhen:
3: Why Casino, not Disneyland?
PM praised Mr. Yeo is very capable in dealing with international business negotiation, much better than WP candidates. So may we ask why Singapore lost the Disneyland project to Hong Kong? Now we see Hong Kong Disneyland business is booming, creating thousands of jobs for Hongkongnese. And for Singaporean, had to accept a substitute proposal with Casino. IsnÂ’t the Disneyland plan much less controversial than the casino plan?
YiZhen, you are very outdated in news !!! Yep when the government drop the disney project , yes there are a lot of folks that don't understand and a lot of business leader who question the move.
But now a lot of business leaders and people now in fact have turn around and praise it as a very smart move for the government. Yes the decision is wise and right.
1) when disney approach the governement, they want the whole piece of land in seletar for free - that is a huge huge piece of land covering all the army camps and ammo dump . Also they want singapore government to come out money on it on top. Singapore government after calculation rejected it as it is a one-side deal and it cannot recover its investment. Also it be hard to justify the giving of such a big land - that your land, singapore land give for free ? For Casino - company even pay for the land and pay to develop it, they pay you for land and even pay to build it , without involving tax payer money.
2) Disney deal was not good, disney wanted govt to put in some money in it , thus tax payer money is need to be pump in . But the return is no good . While casino, we don't even need to pump in money.
3) Jobs creation ? What jobs a whole bunch of people in customes ? Did you read the hong kong newspaper, in fact the staff are complaining about the hard working condition in disney. With Casino - it create also the same amount of jobs in service sector, possible more higher end ones.
4) Disney, will only bring parents with kids, Casino will bring in the rich from middle east , US and Europe. The money roll faster.
5) We have limited space for disney, if people rich will go japan or US one which is better and larger. You think Disney is going to stop in Singapore, they will end up building one in china 100 % and later possible malaysia or indonesia which have more land. Then Singapore Disney what happen to it ? With land given for free, tax payer money pump in , just when you recover the cost after 10 years , yet to see profit , people are already going to other disney !!! It is not a good investment.
In fact looking at Hong Kong now, everyone in the business world is now saying Singapore have make a very wise move.