Thursday, October 23, 2008

About this Blog

Singapore Marina Bay Sands IR threatened by Subprime Crisis

Las Vegas Sands' share price fell a jaw-dropping 90 over pecent, from a 52-week high of US$144.15 to Tuesday’s price of US$12.43, on concerns about a slowdown at its US operations, profitability of its Macau casinos and high gearing. Doubts have been raised about the health of Las Vegas Sands and more importantly, for Singapore, its impact on the Marina Bay Sands Integrated Resort (IR) that is scheduled for completion end of next year.

In the worst-case scenario, if US Las Vegas goes bankrupt, Marina Bay Sands IR in Singapore is unlikely to escape unscathed, said market observers.

In the extreme scenario, if the parent company is liquidated, Marina Bay Sands IR needs to find a buyer for its stake in the subsidiary, which could affect the construction schedule, he said.

May also want to read:
Fire Sale: Owners Dump Condos
The days of Cheap, Easy Credits chasing after property is OVER!
When the bubble of greed and fear burst, guess who suffer?
Property Investment Tip: Don't put all your eggs in one basket
HDB Resales: West Sees Highest Price Increase


Post a Comment

Dear visitors:
Your comments are most welcome!

The blogger here has been affectionately named by close allies as "Smart Buyer" but really, he's not smart. Smart Buyer just believes that being prudent is smart. That's the essence of the message of this blog and Smart Buyer hopes it'll benefit other property buyers.

Smart Buyer :)