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Published November 1, 2010

Star Cruises obtains priority berthing rights

This will allow it to cross-market its offerings with RWS

By JAMIE LEE

STAR Cruises - held under Genting Hong Kong - has secured priority berthing rights with Singapore Cruise Centre's international passenger terminal at HarbourFront for 10 years.

Smooth sailing: Both the SuperStar Virgo (above) and the SuperStar Libra will have S'pore as its home port

The cruise operator said the agreement gave Star Cruises 'commercial and financial incentives' to expand its presence in Singapore, especially as its affiliated company, Resorts World Sentosa (RWS), has been pulling in more tourists. RWS - which is close to HarbourFront - is run by Genting Singapore.

'The proximity of RWS to the international passenger terminal and the berthing advantage provided will combine to give Genting Group greater flexibility to cross-market its offerings to cruise and integrated resort customers.'

Star Cruises, Singapore Cruise Centre's first cruise liner customer, has Singapore as its home port for the Asian flagship, SuperStar Virgo. Another cruise ship, the SuperStar Libra, will be home ported in Singapore for seasonal deployment from Nov 6.

Singapore Cruise Centre registered a record 900 ship calls and 1.14 million passenger throughput last year.

Tourism arrivals last month touched a record high for the month of September - translating to the 10th straight month-on- month record - thanks to the Singapore Grand Prix as well as the leisure and entertainment events during the season.

Visitor arrivals stood at 947,000, up 18.4 per cent year-on-year, latest data from the Singapore Tourism Board (STB) showed.

Indonesia, Malaysia, Australia, China, and India were the top five visitor- generating markets for the month, accounting for 58 per cent of total visitor arrivals, STB said.

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RALLY starts frOm

01 11 2010

tIll

after CHINESE NEW YEAR

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Published November 1, 2010

Star Cruises obtains priority berthing rights

This will allow it to cross-market its offerings with RWS

By JAMIE LEE

STAR Cruises - held under Genting Hong Kong - has secured priority berthing rights with Singapore Cruise Centre's international passenger terminal at HarbourFront for 10 years.

Smooth sailing: Both the SuperStar Virgo (above) and the SuperStar Libra will have S'pore as its home port

The cruise operator said the agreement gave Star Cruises 'commercial and financial incentives' to expand its presence in Singapore, especially as its affiliated company, Resorts World Sentosa (RWS), has been pulling in more tourists. RWS - which is close to HarbourFront - is run by Genting Singapore.

'The proximity of RWS to the international passenger terminal and the berthing advantage provided will combine to give Genting Group greater flexibility to cross-market its offerings to cruise and integrated resort customers.'

Star Cruises, Singapore Cruise Centre's first cruise liner customer, has Singapore as its home port for the Asian flagship, SuperStar Virgo. Another cruise ship, the SuperStar Libra, will be home ported in Singapore for seasonal deployment from Nov 6.

Singapore Cruise Centre registered a record 900 ship calls and 1.14 million passenger throughput last year.

Tourism arrivals last month touched a record high for the month of September - translating to the 10th straight month-on- month record - thanks to the Singapore Grand Prix as well as the leisure and entertainment events during the season.

Visitor arrivals stood at 947,000, up 18.4 per cent year-on-year, latest data from the Singapore Tourism Board (STB) showed.

Indonesia, Malaysia, Australia, China, and India were the top five visitor- generating markets for the month, accounting for 58 per cent of total visitor arrivals, STB said.

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Published November 1, 2010

Star Cruises obtains priority berthing rights

This will allow it to cross-market its offerings with RWS

By JAMIE LEE

STAR Cruises - held under Genting Hong Kong - has secured priority berthing rights with Singapore Cruise Centre's international passenger terminal at HarbourFront for 10 years.

Smooth sailing: Both the SuperStar Virgo (above) and the SuperStar Libra will have S'pore as its home port

The cruise operator said the agreement gave Star Cruises 'commercial and financial incentives' to expand its presence in Singapore, especially as its affiliated company, Resorts World Sentosa (RWS), has been pulling in more tourists. RWS - which is close to HarbourFront - is run by Genting Singapore.

'The proximity of RWS to the international passenger terminal and the berthing advantage provided will combine to give Genting Group greater flexibility to cross-market its offerings to cruise and integrated resort customers.'

Star Cruises, Singapore Cruise Centre's first cruise liner customer, has Singapore as its home port for the Asian flagship, SuperStar Virgo. Another cruise ship, the SuperStar Libra, will be home ported in Singapore for seasonal deployment from Nov 6.

Singapore Cruise Centre registered a record 900 ship calls and 1.14 million passenger throughput last year.

Tourism arrivals last month touched a record high for the month of September - translating to the 10th straight month-on- month record - thanks to the Singapore Grand Prix as well as the leisure and entertainment events during the season.

Visitor arrivals stood at 947,000, up 18.4 per cent year-on-year, latest data from the Singapore Tourism Board (STB) showed.

Indonesia, Malaysia, Australia, China, and India were the top five visitor- generating markets for the month, accounting for 58 per cent of total visitor arrivals, STB said.

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qUIck qUIck bUy

bUy qUIck QUIck

whenever prIce Is rIght

motbabe23 ( Date: 01-Nov-2010 10:29) Posted:

is it good to q to buy at 2.19?

BullishTempo ( Date: 01-Nov-2010 10:25) Posted:

lol my 3 counters, Golden Agri, GenSp and OCBC all running.

Pricing in of QE2 again.

Yes profit taking likely for OCBC after lunch. Price target, $9.25.

Ok come back at lunchtime.

x 0

Published November 1, 2010

Star Cruises obtains priority berthing rights

This will allow it to cross-market its offerings with RWS

By JAMIE LEE

STAR Cruises - held under Genting Hong Kong - has secured priority berthing rights with Singapore Cruise Centre's international passenger terminal at HarbourFront for 10 years.

Smooth sailing: Both the SuperStar Virgo (above) and the SuperStar Libra will have S'pore as its home port

The cruise operator said the agreement gave Star Cruises 'commercial and financial incentives' to expand its presence in Singapore, especially as its affiliated company, Resorts World Sentosa (RWS), has been pulling in more tourists. RWS - which is close to HarbourFront - is run by Genting Singapore.

'The proximity of RWS to the international passenger terminal and the berthing advantage provided will combine to give Genting Group greater flexibility to cross-market its offerings to cruise and integrated resort customers.'

Star Cruises, Singapore Cruise Centre's first cruise liner customer, has Singapore as its home port for the Asian flagship, SuperStar Virgo. Another cruise ship, the SuperStar Libra, will be home ported in Singapore for seasonal deployment from Nov 6.

Singapore Cruise Centre registered a record 900 ship calls and 1.14 million passenger throughput last year.

Tourism arrivals last month touched a record high for the month of September - translating to the 10th straight month-on- month record - thanks to the Singapore Grand Prix as well as the leisure and entertainment events during the season.

Visitor arrivals stood at 947,000, up 18.4 per cent year-on-year, latest data from the Singapore Tourism Board (STB) showed.

Indonesia, Malaysia, Australia, China, and India were the top five visitor- generating markets for the month, accounting for 58 per cent of total visitor arrivals, STB said.

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Published November 1, 2010

Star Cruises obtains priority berthing rights

This will allow it to cross-market its offerings with RWS

By JAMIE LEE

STAR Cruises - held under Genting Hong Kong - has secured priority berthing rights with Singapore Cruise Centre's international passenger terminal at HarbourFront for 10 years.

Smooth sailing: Both the SuperStar Virgo (above) and the SuperStar Libra will have S'pore as its home port

The cruise operator said the agreement gave Star Cruises 'commercial and financial incentives' to expand its presence in Singapore, especially as its affiliated company, Resorts World Sentosa (RWS), has been pulling in more tourists. RWS - which is close to HarbourFront - is run by Genting Singapore.

'The proximity of RWS to the international passenger terminal and the berthing advantage provided will combine to give Genting Group greater flexibility to cross-market its offerings to cruise and integrated resort customers.'

Star Cruises, Singapore Cruise Centre's first cruise liner customer, has Singapore as its home port for the Asian flagship, SuperStar Virgo. Another cruise ship, the SuperStar Libra, will be home ported in Singapore for seasonal deployment from Nov 6.

Singapore Cruise Centre registered a record 900 ship calls and 1.14 million passenger throughput last year.

Tourism arrivals last month touched a record high for the month of September - translating to the 10th straight month-on- month record - thanks to the Singapore Grand Prix as well as the leisure and entertainment events during the season.

Visitor arrivals stood at 947,000, up 18.4 per cent year-on-year, latest data from the Singapore Tourism Board (STB) showed.

Indonesia, Malaysia, Australia, China, and India were the top five visitor- generating markets for the month, accounting for 58 per cent of total visitor arrivals, STB said.

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LEAVE IT to tiny Singapore to tell us where the global economy is heading.

We used to look to the gargantuan United States economy for guidance on financial trends. After Wall Street’s collapse, we turned to the Group of 20 nations. More insight might be gleaned looking at an island nation with 5 million people.

The idea that a place with no natural resources and a state-capitalism model is a global bellwether will strike many as absurd.

Yet the Singapore Exchange’s attempted takeover of Australia’s stock exchange shows how Asia’s money is changing the face of finance and geopolitics as we know it.

The Singapore Exchange’s A$8.1 billion ($10.2 billion) bid for ASX might not go through amid an outcry from Australian lawmakers.

It almost doesn’t matter.

The point is that fast-growing and cash rich Asia is about to go shopping in ways that might shock the biggest developed economies.

This transaction is full of chutzpah.

Singapore’s stock market is half the size of Australia’s and the deal looks expensive.

The real issue is ambition. Singapore is clearly prepared to spend big to get economies of scale that don’t come naturally.

Expect more of this dynamic in Asia — even from smaller countries that get little attention globally.

How will the West respond when China, Japan and India go on a mergersand- acquisitions tear? And those are just Asia’s three biggest economies. Executives from Seattle to London should also expect more phone calls from acquisitive companies in South Korea, Indonesia, Taiwan, Hong Kong and sovereign wealth fund managers everywhere.

THE NEXT WAVE

China has been scooping up energy assets around the globe and has US$2.6 trillion ($3.3 trillion) of reserves to accelerate the campaign. It seeks to leapfrog over the years needed to build domestic corporate powerhouses.

In today’s world, it’s easier to buy a chunk of International Business Machines Corp than create and cultivate brands over time. As the yuan rises, tech leaders like Nokia Oyj or Motorola become cheaper for mainland executives. Why censor Google when you can just own it?

The next wave of globalisation features developing nations buying the crown jewels of developed ones, and it will be messy.

In 2005, the US Congress freaked out when China’s CNOOC bid for oil company Unocal Corp and scuttled the deal. Just wait until China sets its sights on Boeing, Microsoft or Goldman Sachs Group.

This last name has long been coveted in Asia. Government officials in Tokyo and Seoul crave having globally known, savvy and profitable financial leaders. That tends to be code for having their own Goldman.

Now, Asia could just buy the real thing.

Well, try to at least.

It’s hard to believe developed-market lawmakers would let many household names fall easily into Asian hands. Creative attempts would be made to explain why Pacific Investment Management being acquired by foreigners poses a national security threat. Or why Apple or cable news network

Never mind how these arguments might run afoul of World Trade Organization rules. The next few years will see a disorienting flurry of takeover bids from Brasilia to Beijing, putting politicians in unprecedented positions. Nationalistic tendencies will collide with globalisation as never before.

Singapore helped prove the point that Asia has money at a time when others don’t.

Its investment firms in recent years took stakes in Citigroup, UBS AG, Barclays Plc and others, shoring up some of capitalism’s biggest names. Bidding for Australia’s ASX is the next logical step and a reminder that Singapore’s long game is worth watching.CNN must remain American concerns.

BET ON GAMBLING

Take casinos, which are suddenly the rage in conservative Singapore. The government realised it had to let its hair down to net more of the tourism dollars flowing elsewhere in Asia. Welcoming casino-resorts run by Genting Singapore and Las Vegas Sands Corp was a gamble that is clearly working. So was revamping downtown to host Formula One races. Tourist arrivals are exploding, and other Asian capitals are racing to emulate Singapore’s success.

Singapore is working to reinvent itself as a biotechnology hub with reasonably liberal immigration laws to feed its development.

Its transparent financial system has been a magnet for hedge funds setting up shop in Asia. The ASX bid is recognition that Singapore can’t grow much beyond its domestic market and must look outward.

Asia wants to avoid Japan’s arrogant and ill-considered purchases during the bubble years.

Buying Rockefeller Center and the Pebble Beach golf course didn’t work out so well for investors. Officials and executives in Singapore, Beijing, New Delhi and Seoul must avoid the temptation for such vanity deals.

Opportunities abound, though. Several governments are sitting on hundreds of billions of reserves and companies are hoarding cash. Add the desire to grow economies and corporate balance sheets and you have a clear recipe for expansion — and a huge one as Asia floods markets with more equity than ever amid booming demand for initial public offerings.

This shopping spree will shake up the global power balance like rarely before.

Perhaps nowhere is this huge shift more apparent than in tiny Singapore.

BLOOMBERG

The writer is a Bloomberg News columnist. The opinions expressed are his own.

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Tiny Singapore signals a giant global power shift

Fast-growing, cash-rich Asia is about to go shopping in ways that might shock developed economies

william pesek

The next wave of globalisation features developing nations buying the crown jewels of developed ones, and it will be messy. The next few years will see a disorienting flurry of takeover bids from Brasilia to Beijing, putting politicians in unprecedented positions.

Nationalistic tendencies will collide with globalisation as never before.

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The 71-year-old veteran politician will relinquish his appointment as Coordinating Minister for National Security to Deputy Prime Minister Wong Kan Seng on Monday.

Commenting on the Cabinet changes, Professor Jayakumar said one of the strengths of the Government is in its ability to constantly renew and rejuvenate itself. He added there is confidence that the Government has a mix of leaders with varying experiences.

Professor Jayakumar described Mr Wong as a seasoned politician.

“When I was Home Affairs Minister, he was Minister of State at Home Affairs, before he moved to Foreign Affairs. So, he has a wealth of experience. And don’t forget also, before he joined politics, he was in the Ministry of Defence. So, I have full confidence it has been passed on to somebody who’s very knowledgeable.”

When asked by reporters if he would be contesting in the next General Election, Professor Jayakumar said the decision would be left to the Prime Minister and could be made on Nomination Day or earlier.

He said the Prime Minister would need to take into account several factors like the mix between older and younger Ministers in Cabinet.

Among the four office holders who were promoted was Senior Parliamentary Secretary Amy Khor, who moves up to Minister of State.

Dr Khor said: “I sincerely hope that my promotion, just like those before me, will point to the immense possibilities that are open to women in Singapore for political involvement at the highest level.”