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Las Vegas Sands signals it may not survive downtur
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strike1147
Member |
11-Nov-2008 08:58
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capitaland may take over and run the show as SANDs is no hope at all n singapore cannot let it fail |
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AK_Francis
Supreme |
11-Nov-2008 01:50
Yells: "Happy go lucky, cheers." |
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If d 60 k jobs in both IRs would be affected, then the other related jobs in other areas would be affected as well. Really just can't think of it. Cross fingers also no use. |
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singaporegal
Supreme |
10-Nov-2008 22:05
Yells: "Female TA nut" |
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This news will have impact on the Hotel industry in Singapore. | ||||
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AK_Francis
Supreme |
10-Nov-2008 16:21
Yells: "Happy go lucky, cheers." |
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He he, Nick fixes nicely into AK said proverbs earlier. Nonetheless, Nick is a good guy lah. He warns people when he senses something strange, though at times may not be 100 % right.
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Hulumas
Supreme |
10-Nov-2008 16:13
Yells: "INVEST but not TRADE please!" |
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No crash in the first place. I wonder, why you keep saying crash? Ha... ha... ha...
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AK_Francis
Supreme |
10-Nov-2008 15:59
Yells: "Happy go lucky, cheers." |
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D sensation now is just like the Chinese wise saying, Grasses n Woods also look like Soldiers, in war scenairo. 
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dcang84
Veteran |
10-Nov-2008 14:55
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If it does, the banks will be hit very hard. Then 800 may be on the way.
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nickyng
Supreme |
10-Nov-2008 14:53
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well...if wanna crash...better give FULL and comPLETE crash!! dun give substandard ..1/2 crash pattern...get it over and done with! and we move on! :D | ||||
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jackjames
Elite |
10-Nov-2008 14:30
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or maybe crisis is an opportunity?
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knightbridge
Veteran |
10-Nov-2008 14:23
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Pray hard that sands dun default and file chapter 11. If not the 3 banks will pull down the STI index by alot and sending pessimism to another counters which are not affected. Then make the whole market quiet, definite no good for everyone unless u are not vested in the market. |
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nickyng
Supreme |
10-Nov-2008 14:13
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aya...OSIM is in healthcare...GENTING and SANDS in CASINO..diff busi...the other's downfall is the windfall for oneself ! :D
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StarLine
Senior |
10-Nov-2008 13:11
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Maybe Sands can look for investors from the cash rich Middle East for cash ? |
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Andrew
Master |
10-Nov-2008 12:41
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I thought is the other way round, if Sands fails, Genting will be wacked by investor. It is like if Bank A fails, Bank B, C, D.....will experience run lor..... Just like OSIM case, when its nearest competitor fails, OSIM aso take a beating...
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AK_Francis
Supreme |
10-Nov-2008 12:15
Yells: "Happy go lucky, cheers." |
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GenInt supposes to inaugurate half yr later than Sands. Now, GenInt openly laughing liao,as they cash rich n will open business earlier.
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nickyng
Supreme |
10-Nov-2008 12:04
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gee...gd qn..if SANDS got bust!! Genting sure be lauffing secretly behind...as they are still the ONE and ONLY regionally sg & msia !! :P gee...better load abit on GENTING now...juz incase :P
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AK_Francis
Supreme |
10-Nov-2008 11:54
Yells: "Happy go lucky, cheers." |
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Ought to say something in advance loh. Oh Chey is in Tamasick n the IC hold 45% steak on d bank. Above are encrypted, no clear explaination is provided. F & G.
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knightbridge
Veteran |
10-Nov-2008 11:52
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Polar bear feeling the breeze. Yeah
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nextdoor
Senior |
10-Nov-2008 11:40
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Recently one of my fgood riend told me that his adviser told him DBS may drop below $5....I told my friend "your adviser must be crazy" ....but when I think about it after that....we never know! Our MM also mentioned yesterday that this is the beginning of the crisis...the worse since the great depression!
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AK_Francis
Supreme |
10-Nov-2008 11:20
Yells: "Happy go lucky, cheers." |
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Ha ha, the 3 banks reacted actively while market opened. Not sure our Polar Bears made kopi $? |
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strike1147
Member |
10-Nov-2008 11:14
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All three Singapore banks have significant exposure. Singapore banks are lead arrangers in the S$5.4b credit facility for Marina Bay Sands. All three banks- DBS, OCBC and UOB- have significant exposure to Las Vegas Sands. Singapore banks do not disclose precise exposure to individual customer due to banking secrecy and client confidentiality. The figures stated below are based on banking magazine Basis Point. Share prices for all three Singapore banks will be affected by the sudden negative turn at Las Vegas Sands. Exposure To Marina Bay Sands Source: Basis Point Restructuring may not fully protect the banks. We understand that about 50% of the S$5.4b credit facility is already drawn down. If Las Vegas Sands goes into bankruptcy, there are two possible solutions: a) The consortium of banks will have to get another investor to buy/take over the project Most international casino operators are already highly geared, thus unlikely to have financial room to further expand in Singapore . They have existing expansion mostly in Macau and are having fewer visitors both at home market Las Vegas (consumers are focusing more on necessity spending as the US economy enters a recession) and Macau (Chinese government has barred mainlanders from using the same visa to visit both Macau and Hong Kong since 1 Sep 08). New investor could likely be Temasek or a Temasek-linked company that have previously bidded for sites at Marina Bay or Sentosa. While we believe there will be willing investors given political will to make integrated resorts a success in Singapore , Las Vegas Sands will be disadvantaged by the current global economic slowdown and having bankers for its US$5b credit facility at its back. The new investor is also not obligated to ensure the banks recover their money. b) The consortium of banks will need to get Government to reduce entry levy (S$100/day or S$2,000/year) and increase the limit on gaming area (less than 3% of total floor area). This may be required to make the project more appealing to potential investors. Exposure To Marina Bay Sands Source: Basis Point |
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