Singapore Govt to bailout Casino......with our CPF money?
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Originally posted by MyNameisNas:
its ok lahh... CPF is the last resort. Sg still have many money on reserves. Our government practices good governance. They also seek international expertise for advice..
How sure are you of the reserves? How much of it is lost and how much siphoned away? Do you know? Does anyone has the ability to find out? Remeber what happened when as president Ong Teng Cheong asked them to open the books?
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End up to hell for Mr. ONG. POOR MR ONG> when he say he want to audit become this kind of ending.
Huh ya. As long people is not awake. we are doomed.
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Anyway whatever reserves they have, it stills comes from the people and it is public money. They want to bring curses on themselves, that is their perogative, but to use the people's money for an evil like that... I will curse them to nullify the effects of doing such evils...
Singaporeans that want to nullify the effects of such evils on their person have to curse them as well.... otherwise all those that kill themselves from gambling at the casino, their blood is on their hands... the blood is on the hands of those that do not curse the despots for using public funds to build casinos....
Therefore, I curse the despots, their children and grandchildren with the worse form of cancer if they use public funds or CPF money to bail out the casino and take a stake in it. I advice you to curse them too.
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Just think, those banks that refused to lend Las Vegas Sands money because they are an evil and those that refused to buy their stocks because they are a demon organisation.... are having the last laugh.
Those that cursed them in an effort to prevent casino gambling... hahahaha... they are so happy to see them in this mess.
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Eh Andrew.. you really sound better here.. you should type more like this next time!
Screw the ruling party.
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I also feel that Andrew has a lot to offer.
:)
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Singapore Govt to bailout Casino......with our CPF money?
Wah lau eh!!! Didn't you all notice the question mark at the end of the title?
Is that a factual statement?
Is that a statement without evidence?
Is it a query?
Wah lau, talk so much on just a wondering.
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Originally posted by Pentaxdude90:
Well said Fantagf.
Sigh.. How nice to plunder free cash from the hard earned savings of your own people.
Anyway, many of these people don't mind at all, they just go on and on to condone their greedy actions. -
Originally posted by mancha:
Singapore Govt to bailout Casino......with our CPF money?
Wah lau eh!!! Didn't you all notice the question mark at the end of the title?
Is that a factual statement?
Is that a statement without evidence?
Is it a query?
Wah lau, talk so much on just a wondering.
Eh, whether is this going to be true or not, we will find out. Nothing, absolutely nothing is impossible to the ruling party if they want to achieve what they want. Don't underestimate them.
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Nov 11, 2008Marina IR is 'No. 1' priority
By Lim Wei Chean 
Sands president and chief operating officer William Weidner said the Singapore IR is not only 'a very important project' which offers 'terrific returns on investment', but it is also 'probably the most important project' in their portfolio. -- PHOTO: LAS VEGAS SANDSTHE Marina Bay integrated resort remains the 'No 1' priority for Las Vegas Sands even as the casino operator suspends projects in its Macau headquarters and scales back on a development in Pennsylvania, its top suits promised.
Sands president and chief operating officer William Weidner said the Singapore IR is not only 'a very important project' which offers 'terrific returns on investment', but it is also 'probably the most important project' in their portfolio.
In a conference call early on Tuesday, the embattered company also said it is raising US$2.14 billion in capital, including new funding from its billionaire chief executive, Sheldon Adelson.
Mr Adelson said: 'As part of my visit to Singapore last week, I assured the government we were very committed to the success of Marina Bay Sands and would have the funding necessary to complete this development. That is exactly where we stand today.'
However, Sands' promise to open the entire IR at the end of next year will not be fulfilled. When it opens its doors end next year, two of three hotel towers, a portion of the retail mall, most of the convention space and the casino will be ready. The other facilities like the remaining hotel block and sky park will open in 2010.
The listed company posted a worse-than-expected net loss of US$32.2 million, or 9 cents a share, for the third quarter that ended Sept 30.
A year ago, it posted a loss of US$48.5 million, or 14 cents a share, due to expenses in preparation to open new casinos in Macau and Las Vegas.
Revenue rose 67 per cent to US$1.11 billion, from US$661 million a year earlier. Adjusted earnings were 2 cents per share, down from 12 cents per share last year.
Mr Adelson said the capital raise will 'put to rest' any speculation that the company is in danger of going belly-up.
It expects to release details of a US$2 billion bond sale soon. It will also save US$1.8 million by halting construction and 'indefinitely' delaying its US$600 million condominium project on the Las Vegas Strip, pushing back development of part of its US$12 billion project in Macau and curbing plans for its Bethlehem casino by delaying the accompanying hotel and retail openings.
Mr Weidner said the current capital market conditions will not impact the Singapore development since the S$5.44 billion credit facility had been secured earlier in the year.
To date, he said the company has invested US$1.81 billion in construction costs, including land price, in the Marina Bay project to date, of which an approximate US$616 million was in equity.
And the current estimated cost to complete the project is about US$2.7 billion,which the company expects to fund 75 to 80 per cent through the credit facility, of which about US$2 billion is available. The company is also expected to invest an additonal $500 million in equity for the project through to the targeted opening in late next year.
Mr Weidner called the Singapore project one of its 'crown jewels' because of the low tax rates, high number of visitor days, and its benefit in operating in a dualpoly. The Singapore casino, which wil have 1,000 gaming tables, is expected to add an annual operating profit of US$1.26 billion by 2012.
Sands declined to elaborate on a staggered opening for the Marina Bay IR.
Marina Bay Sands general manager George Tanasijevich would only say: 'The majority of our integrated resort will be opened on Day 1; we are in discussions with the Singapore Government on a suitable timetable for the rest of the attractions.'
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By hook or by crook, the government have to continue the IR project ~ with or without sands
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Nov 12, 2008No bailout for IRs
By Lim Wei Chean 
Marina Bay IR project's parent company, Las Vegas Sands, is facing cashflow problems due to the global economic downturn. -- ST PHOTO: ALPHONSUS CHERNTHE Government has 'no intention' of bailing out the integrated resorts in Singapore should they fail, Senior Minister of State S. Iswaran said on Wednesday.
He was responding to media queries on whether the Government may step in to rescue the Marina Bay IR project, whose parent company, Las Vegas Sands, is facing cashflow problems due to the global economic downturn.
Las Vegas Sands auditor PriceWaterhouseCoopers said in a regulatory filing last week that the casino operator would not be able to meet lenders' requirements unless it cuts spending on developments, boosts earnings and raises more capital.
That sparked off fears the company would not be able to carry on with Singapore's first integrated project at Marina Bay. However, on Tuesday, the company said during its third quarter results earnings briefings that it would proceed to complete Marina Bay Sands as promised.
To do so, it is raising another US$2 billion in capital and suspending projects in Macau and Las Vegas, as well as scaling back another casino project in Pennsylvania.
Speaking to reporters on the sidelines of the Carbon Forum Asia at Suntec Singapore on Wednesday morning, Mr Iswaran said Sands' announcement gave stakeholders here the 'assurance' that the company has enough resources to fund the project.
Asked if the Government would intervene if the project fails, he said: 'There has been no request for a Government bailout by Marina Bay Sands, and neither does the Government intend to do one.'
He added: 'It has always been a commercial project and the solutions to the challenges posed by the current economic environment, the financial market situation, lie in the commercial sector as well.'
To another question on whether a Government-linked company will bail out the IR, he said that such companies are 'commercial enterprises' which will 'have to make their own decisions' on whether an investment is viable or not.
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yeah!!! my receptionist job approved!!!!, next month start training liao...
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Originally posted by angel7030:
yeah!!! my receptionist job approved!!!!, next month start training liao...
where you work, can i visit you? -
Asked if the Government would intervene if the project fails, he said: 'There has been no request for a Government bailout by Marina Bay Sands, and neither does the Government intend to do one.'
He added: 'It has always been a commercial project and the solutions to the challenges posed by the current economic environment, the financial market situation, lie in the commercial sector as well.'
To another question on whether a Government-linked company will bail out the IR, he said that such companies are 'commercial enterprises' which will 'have to make their own decisions' on whether an investment is viable or not.
who would believe that Govt will not step in should LVS fails to find the necessary working capital.
Govt can always use the influence in temasek, Capitalland to finance the deal or takeover the IR.
By the way, GLC is still considered a " commercial enterprises"? maybe time for namechange.
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Originally posted by Chin Eng:
where you work, can i visit you?
Club88 underground, Joo Chiat Road, me house also very near, at tembling road, 31. Beware of Dogs hor. Dun shout hor, just ring the bell like Long John Silver does...my maid will open the gate for you, if you drive, only Merc n above are allow in, otherwise you can park outside.And please dun court my maid hor, last time one get pregnanted, me lost $5000 for not taking care of her
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Originally posted by reyes:
who would believe that Govt will not step in should LVS fails to find the necessary working capital.
Govt can always use the influence in temasek, Capitalland to finance the deal or takeover the IR.
By the way, GLC is still considered a " commercial enterprises"? maybe time for namechange.
LKY is chairman of GIC...
Ho ching CEO of temasek holdings..
Hsien Loong is PM who manages S'pore's GDP of US$140 billion... and is also the deputy chairman of GIC!
Name change? Boy that'll be the day. How about "family business"?
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Originally posted by AndrewPKYap:
Anyway whatever reserves they have, it stills comes from the people and it is public money. They want to bring curses on themselves, that is their perogative, but to use the people's money for an evil like that... I will curse them to nullify the effects of doing such evils...
Singaporeans that want to nullify the effects of such evils on their person have to curse them as well.... otherwise all those that kill themselves from gambling at the casino, their blood is on their hands... the blood is on the hands of those that do not curse the despots for using public funds to build casinos....
Therefore, I curse the despots, their children and grandchildren with the worse form of cancer if they use public funds or CPF money to bail out the casino and take a stake in it. I advice you to curse them too.
"Singaporeans that want to nullify the effects of such evils on their person have to curse them as well.... otherwise all those that kill themselves from gambling at the casino, their blood is on their hands... the blood is on the hands of those that do not curse the despots for using public funds to build casinos....
Therefore, I curse the despots, their children and grandchildren with the worse form of cancer if they use public funds or CPF money to bail out the casino and take a stake in it. I advice you to curse them too."Don't say the curses dont work... looks like the despots are scared of Singaporeans cursing them.
Straits Times, Singapore - 7 hours ago
Asked if the Government would intervene if the project fails, he said: 'There has been norequest for a Government bailout by Marina Bay Sands, ...
Singapore government will not bail out Las Vegas Sands Channel News Asia
Singapore has no intention of casino bailout The Standard
Las Vegas Sands Bankruptcy Fears Grow Online Casino Sphere
Bloomberg
all 897 news articles »
LVS"But don't stop cursing yet with regards to the bailout of the casinos, they are still considering using public funded companies to do a back door bailout.
Let them know in no uncertain terms that you will curse them as long as public money is indirectly used through GLCs.
Don't let them fool you and let them know that Singaporeans will not be fooled by their dishonorable behavior.
So now a modified curse:
"Therefore, I curse the despots, their children and grandchildren with the worse form of cancer if they use public funds through government funded companies to bail out the casino and take a stake in it. I advice you to curse them too."
Curse them too so that you have no part in the evil. Remember if you are apathetic, it means you support for 'silence means consent' and so you have no choice but to curse them with the worse curses.
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You want no part in this:
It is no coincidence they choose that design:
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Originally posted by angel7030:
yeah!!! my receptionist job approved!!!!, next month start training liao...
thought you have your own pub?
receptionist your CCA huh?
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Originally posted by Fantagf:
Eh, whether is this going to be true or not, we will find out. Nothing, absolutely nothing is impossible to the ruling party if they want to achieve what they want. Don't underestimate them.
Eh, whether it is going to be true or not, it doesn't matter, crap first.
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"Therefore, I curse the despots, their children and grandchildren with the worse form of cancer if they use public funds through government funded companies to bail out the casino and take a stake in it. I advice you to curse them too."
"curse them as well.... otherwise all those that kill themselves from gambling at the casino, their blood is on their hands... the blood is on the hands of those that do not curse the despots for using public funds to build casinos...."
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Originally posted by AndrewPKYap:
You want no part in this:
It is no coincidence they choose that design:
strange.... every building block looked that the second pix....the first pix? well it looks more like:
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Originally posted by AndrewPKYap:
"Therefore, I curse the despots, their children and grandchildren with the worse form of cancer if they use public funds through government funded companies to bail out the casino and take a stake in it. I advice you to curse them too."
"curse them as well.... otherwise all those that kill themselves from gambling at the casino, their blood is on their hands... the blood is on the hands of those that do not curse the despots for using public funds to build casinos...."
that's just photoshopping something onto the building... it doesn't have much resemblance...
fail...
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