Next Stop- Johore ?

M'sian officials consider proposal for casino on Penang island


KUALA LUMPUR - Officials on a northern Malaysian resort island said on Friday they will consider a proposal to launch a casino to lure tourists, though the plan is likely to face fierce opposition from the country's Muslim majority.


Opening a casino on Malaysia's Penang island, known as the 'Pearl of the Orient', could help the country compete for tourist dollars with nearby Singapore, which is expected to open its first casinos in 2009, said Wong Mun Hoe, a Penang state legislature member.

'The word 'casino' may cause apprehension about gambling and strike fear in people's minds, but we should open up our mindset about what's good for us,' Mr Wong said.

Malaysia currently has one casino in the Genting Highlands hill resort near Kuala Lumpur. The location is one of Malaysia's main draws for tourists from China, Hong Kong and Singapore, attracting millions of visitors every year to its casino and amusement parks. -- AP

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Marina Bay Suites sees strong demand despite market uncertainty
More info at http://sgreal.com/index.php?blog=2&m=20080117

Marina Bay Suites jointly marketed by Hong Kong Land, Keppel Land and
Cheung Kung.

LI Ka-shing, KBE, GBM, Grand Officer of the Order Vasco Nunez de Balboa, Commandeur de l’Ordre de Leopold, Commandeur de la Légion d’Honneur, JP, aged 78, is the founder of Cheung Kung.
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Business Times - 16 Dec 2005

HK media jumps on Li Ka-shing's link to IR moves

Suntec Singapore says its focus is on MICE, not gaming

By ALEXANDRA HO

(SINGAPORE) A Hong Kong newspaper has stirred up a storm with speculative reports that tycoon Li Ka-shing may pull out of Suntec Singapore International Convention and Exhibition Centre if it enters into a tie-up linked to the casino business.

Mr Li, who owns just under 10 per cent of Suntec Singapore, is known to be strongly opposed to gambling.

When contacted by BT, Wendy Tong Barnes, spokeswoman for Mr Li's flagship Cheung Kong, said: '(Neither) Mr Li nor any of his companies will be involved in the casino business.'

The Hong Kong media jumped on news that the Harrah's Entertainment and Keppel Land consortium bidding for the Marina Bay integrated resort (IR) has sewn up an exclusive partnership with Suntec Singapore as part of the consortium's IR strategy for meetings, incentives, conventions and exhibitions (MICE).

Putting the agreement in perspective, Suntec Singapore yesterday said that as it stands, it is a strategic marketing tie-up.

A Suntec Singapore spokesman said: 'Suntec Singapore's focus and expertise is exclusively on MICE, and not on gaming. As such, what we have signed is an exclusive memorandum of understanding with Harrah's-Keppel Land - a prime contender to win the IR in Marina Bay - to incorporate in the bid complementing facilities and closely work with SMG to jointly market Singapore as a world-class destination to international conference planners and organisers.

'No specific monetary commitment is made and no equity is involved as this is in its nature and at this point a purely marketing agreement.'

Some also feel the reports are premature as the whole agreement hinges on Harrah's-Keppel winning the IR concession.

In their announcement on Tuesday, Harrah's-Keppel said Suntec Singapore will also have a hand in the design and development of the IR's MICE facility to ensure it complement existing ones here.

Yesterday, Hong Kong's business daily, The Standard, reported that Mr Li could dispose of his stake in Suntec if it proceeds with a plan to be involved in the Harrah-KepLand IR project. Citing unnamed sources close to Mr Li, the report said the agreement did not reach Suntec Singapore's board. Mr Li apparently was also not informed of it.

But sources told BT yesterday that Suntec Singapore's board chairman Frank Tsao was fully aware of the agreement. They added that it was unlikely Mr Li had not been informed of the agreement, given its high-profile nature.

Those in the know feel it may all be a storm in a teacup arising from the Hong Kong media's misreading of the Harrah's-Keppel-Suntec deal. One report even went overboard with an erroneous front page story saying that Mr Li was joining the tender for the IR here, sources said.

Contacted for a reaction, a Harrah's-Keppel spokeswoman said the consortium was not in a position to comment.

According to information from the Accounting & Corporate Regulatory Authority, Mr Li holds less than 10 per cent of Suntec City Development, which owns Suntec Singapore. Other Hong Kong tycoons are also shareholders in Suntec City Development.

Back in March, Cheung Kong executive director Justin Chiu was asked by the Singapore media if the company had plans to tie up with any gaming companies to put in a bid for the IRs.

Mr Chiu replied adamantly: 'Definitely not, the chairman's (Li Ka-shing) instruction, no gambling.'

Copyright © 2005 Singapore Press Holdings Ltd. All rights reserved.