Singapore Govt to bailout Casino......with our CPF money?
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Singapore may step in to save new casino
By Chen Shiyin | 2008-11-11 |
SINGAPORE'S government may form a venture with CapitaLand Ltd to take over one of the island's two casino resorts if Las Vegas Sands Corp fails to stave off loan defaults, CIMB-GK Research Pte has said.
Las Vegas Sands, the gaming company that said last week it may default on debt and face bankruptcy, reiterated last Saturday that it's committed to the US$4 billion Singapore resort.
The company has drawn down at least S$2 billion (US$1.3 billion) from a S$5-billion credit facility by several banks for the project.
"If Las Vegas Sands cannot cough up its share of equity, the Singapore government is likely to step in," Donald Chua, a Singapore-based analyst at CIMB-GK, wrote in a report yesterday. "A viable option could be a 49:51 joint venture between the government and CapitaLand, with CapitaLand taking a controlling stake in the project."http://www.shanghaidaily.com/article/shdaily_sing.asp?id=380129&type=Business&page=0
Even people in Shanghai noticed this funny policy change......
Govt says no subsidized healthcare, transport.......no subsidy mentality allowed.
But govt willing to bailout American angmo Casino........What a laughing stock.....
Your CPF money goes to pay for gambling operations and high bonuses for angmo executives........ You still keep quiet? You agree with this policy?
You still believe our leaders are right ?
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had know this would happen since LVS annouce his high leverage position and stock price pummeted over 90%.
it oculd be temasek, GIC, capitalland. but my concern are
1. their expertise in running a casino.without prior experience, i worry more of our hard earn reserves will be dump into the longkang.
2. whether the investment do need to seek parliamental approval, although the need of it seem very procedural only considering they own over majority of seats.
3. i would rather singapore own a share of goldman sachs, JP morgan than a piece of casino crap shit!
just my 1 cents opinion
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It seems like in recent times, a lot of money has been thrown into bad investments.
Haiz.
I really worry about the future.
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Any surprise who is always paying for all the bad decisions our government makes?
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singapore pool is specialise inthem.....
- football bets
- toto
- 4D
- big sweep
- tikam - scratch it
- motor race
- ....
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Originally posted by mistyblue:
Any surprise who is always paying for all the bad decisions our government makes?
Don't worry, MM says we have enough reserves to last us through the crisis.
Have to believe him lor.
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...remember to curse the despots or else the curse of using you CPF money for the casino will surely fall on you...
... if you curse them, that shows that you do not agree they use your money, but you have no choice... this matter is so evil you cannot just be apathetic or the curse will fall on you...
...you must must be proactive, you must curse them for the curse to be nullified on your person....
remember....
...remember this one?... he died!!!!
"Casino tycoon dies in helicopter crash - Times Online
12 Oct 2006 ... A commission has been set up to investigate the crash. ... as chief executive and plans to bid for a casino license in Sentosa, Singapore, ...
business.timesonline.co.uk/tol/business/industry_sectors/leisure/article599442.ece -Similar pages"...remember this one?... he died!!!!
"Casino tycoon dies in helicopter crash - Times Online
12 Oct 2006 ... A commission has been set up to investigate the crash. ... as chief executive and plans to bid for a casino license in Sentosa, Singapore, ...
business.timesonline.co.uk/tol/business/industry_sectors/leisure/article599442.ece -Similar pages" -
i am cursing for your book not to be published.... is it working?
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i thot they said that they (govt) are taking on the reserve and not our CPF money? Anyway, they still pay full obligation to your CPF money and return , no change.
As for IR, the govt is trying to save it, it is our next icon to promote our economy, if it fail due to external influences, we all go down.And IRs is not mainly on casinos, it is also a resort for family and tourist.
Me applied job there to be the Receptionist, so please dun let it go down hor
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Originally posted by angel7030:
i thot they said that they (govt) are taking on the reserve and not our CPF money? Anyway, they still pay full obligation to your CPF money and return , no change.
actually i also don't understanding....when the claim that our CPF money is moved.... does it mean that we don't get our CPF money???
I have never personally met anyone not receiving their CPF when it is due....
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Originally posted by Chin Eng:
actually i also don't understanding....when the claim that our CPF money is moved.... does it mean that we don't get our CPF money???
I have never personally met anyone not receiving their CPF when it is due....
Why do you think population has to be increased to 6 million?
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have u guys ever though of the consequences of a stalled construction site at our city harbourfront?
what image will it give to our tourism industry. what spotlight will it put singapore under.
we cant afford to have a 20storeys unfinished hotel built and dangling in the air.
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Originally posted by Chin Eng:
actually i also don't understanding....when the claim that our CPF money is moved.... does it mean that we don't get our CPF money???
I have never personally met anyone not receiving their CPF when it is due....
Yalor, i think alots of people got the wrong assumption, touching the CPF is playing with fire, the govt know that, it is the social safety net that we should be proud of, no country can follow this model, even the americans retirement money are base on share options and stocks, and with today market in US, these old peoples is going to get nothing and will be suffering. -
Originally posted by corebooster:
have u guys ever though of the consequences of a stalled construction site at our city harbourfront?
what image will it give to our tourism industry. what spotlight will it put singapore under.
we cant afford to have a 20storeys unfinished hotel built and dangling in the air.
Under the blue print, if it failed or stopped, it would temporary be transformed into Foreign Workers Dormitories -
wtf
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Originally posted by corebooster:
wtf
when you're talking about a group of people who can spend $400,000 rename a place with its own name Foreign Workers Dormitories would start to sound attractive
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Originally posted by corebooster:
have u guys ever though of the consequences of a stalled construction site at our city harbourfront?
what image will it give to our tourism industry. what spotlight will it put singapore under.
we cant afford to have a 20storeys unfinished hotel built and dangling in the air.
What we can't have is an incompetent government who allowed an unfinished hotel to be 'dangling in the air' because they decided to ignore petitions and views given by the locals.
Look what a hellhole they've gotten themselves into... again. -
Originally posted by charlize:
Don't worry, MM says we have enough reserves to last us through the crisis.
Have to believe him lor.
He also promised a 'golden period ahead' for Singapore.
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Originally posted by Vendettus:
What we can't have is an incompetent government who allowed an unfinished hotel to be 'dangling in the air' because they decided to ignore petitions and views given by the locals.
Look what a hellhole they've gotten themselves into... again.
forget iti will not engage in a political debate.
there is always 2 sides of a coin. you can see it the positive or the negative way.
what done is done, wad important now is recovery action.(that is if needed)
thats all for my contribution in this thread
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Originally posted by corebooster:
forget iti will not engage in a political debate.
there is always 2 sides of a coin. you can see it the positive or the negative way.
what done is done, wad important now is recovery action.(that is if needed)
thats all for my contribution in this thread
Farewell.
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http://money.cnn.com/2008/11/06/news/companies/lasvegas_sands.ap/index.htm
Las Vegas Sands tumbles 40%
Casino operator says it needs to raise capital, risks default.
Who will Bail LVS out??????????????
without sufficient information I fear it would be hard to even question....
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Originally posted by Chin Eng:
i am cursing for your book not to be published.... is it working?
wow, I am so scared, cursed by a delusional liar....
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forget it
i will not engage in a political debate.
there is always 2 sides of a coin. you can see it the positive or the negative way.
what done is done, wad important now is recovery action.(that is if needed)
thats all for my contribution in this thread
you here for what if not for politics? BGR go other forums.
your mentality is typical of PAP, when something go wrong :" Let move forward".
What is forward when we dont even look back at how we get here in the first place? here means shithole!!
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actually i also don't understanding....
when the claim that our CPF money is moved.... does it mean that we don't get our CPF money???
I have never personally met anyone not receiving their CPF when it is due....
remember how they extend your CPF withdrawl age, again and again? Sure they will give it to you if u can outlive their due or "them"
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omg.. fucking government