Congratulations to Genting Bhd and Star Cruise for winning the rights to build a S$5.2 billion (RM12.1 billion) casino resort at Sentosa Island, Singapore!
Congratulations to Singapore for winning foreign-direct investments of S$5.2 billion which will balloon the already burgeoning economy.
Sorry to Malaysia for losing an investments of RM12.1 billion. Genting made it's money in Malaysia and sent their investments overseas that benefited Singapore. At the same time, Malaysia is hungry for foreign-direct investments and somehow, it's so difficult to get even RM5 billion of foreign-direct investment for the whole year, what more, from just one single organization.
Whatever it is, Casino investments and entertainment city is always attractive and involves multi-billions of investments. Johor, with their the Southern Johor Economic Region, are trying to tempt foreigners to invest; yet we hear that the MB of Johor isn't doing much to attract Singaporeans to invest in SJER. I think, the main obstacles are the under-table fees, commissions and finding-fees that had been asked for, plus the fact that 30% shares must be given free to the oligarchy.
What a shame! We hear so often of RM200 billion projects, RM15 billion investment commitment, RM600 million worth of Class F projects; but we aren't hearing companies starting work and implementing the projects. Maybe, they are on the way...what we say: Coming Soon. How soon? Maybe soon - 1 year, 5 years time or infinity!!!
2 comments:
Congratulations to Genting Group.
About time Malaysia follow New York by appointing businessman as its people leader 'Michael Bloomberg as Mayor'; get Lim Kok Thay as Minister of Finance instead.
That would relieve the PM from finance burden since his accounting skills needs heavy improvement. Let the PM focus on making Public Toilets Cleaner... for VMY2007!
That SJER will not go anywhere, rest assured... even the dead Johoreans aware of it long before the PM announces it back then.
Who cares, anyway... its only the peoples money!
Genting made it's money in Malaysia and sent their investments overseas that benefited Singapore
Puhlease. The money for the Singapore casino will not come from Genting Malaysia. It will mostly be new capital raised from borrowings.
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