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Posted April 24, 2008

SINGAPORE, April 24 (Bernama) -- Resorts World at Sentosa (RWS) announced Thursday that it has completed the syndication of S$4 billion credit facilities for its integrated resort development, closing one of the largest loans ever undertaken in Singapore.

The borrowings were made at an interest rate of 175 basis points above the Singapore Swap Offer Rate and the tenure of the loan extended to 2015, the company said in a statement Thursday.A total of 10 banks participated in the syndication, jointly underwritten and book run by five original mandated lead arrangers -- DBS Bank Ltd, Oversea-Chinese Banking Corporation Ltd, The Hongkong and Shanghai Banking Corporation Ltd, The Royal Bank of Scotland Plc and Sumitomo Mitsui Banking Corporation.

The expanded mandated lead arrangers included Malayan Banking Bhd, the Singapore branches of The Bank of Tokyo-Mitsubishi UFJ, Ltd, Bangkok Bank Public Co Ltd, CIMB Bank Bhd, BNPP, Commerzbank AG, National Australian Bank Ltd, and Calyon.

The Singapore-based DZ Bank AG Deutsche Zentral-Genossenschaftsbank and JP Morgan Chase Bank, NA, joined as arrangers.The credit facilities would fund two-thirds of the integrated resorts S$6 billion project cost, with the remaining to be paid through equity raised through a successful rights issue last year by RWS parent company, Genting International Public Ltd Co, RWS said.

The company said that it had obtained the credit facility on Feb 11 and the loan syndication was completed in about two months despite a very difficult global credit environment.RWS chief executive Tan Hee Teck said its partner banks had shown confidence in RWS management and its business model of a family entertainment destination.RWS, which is scheduled for an early 2010 soft opening, has so far awarded more than S$2 billion in hotel building contracts.
-- BERNAMA

Fun & Entertainment Outdoors: Spoiled for Choice!

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Posted June 2008

Looking for outdoor fun and entertainment? Resorts World at Sentosa is the place!

RWS's outdoors fun is nearly fourfold of MBS’s. No surprise really as RWS’s focus during the bid to construct Singapore’s second IR was as a destination for family filled fun, focusing slightly less on MICE and business activities than the Marina Bay Sands.

Festivewalk is the ‘spine’ of RWS IR and is located in the central zone. Universal Studios Singapore is in the east zone and the Marine Life Park and Equarius Water Park are found in the west zone. This means that RWS visitors will literally have 3 different holiday destinations.

Festivewalk is a 0.5km strip located under the Vivo-Sentosa Skytrain link that will buzz with activity 24/7. The strip will host great street performances including FREE spectacular audio-visual performances, fine dining, as well as wonderfully themed shops and clubs. And when the sun sets visitors are guaranteed additional entertainment near the waterfront.

Arriving by bus from Harborfront, visitors will be welcomed by outdoor performers in what will be known as Bull Ring. And did you know that several performances at RWS’s strip as well as performances in other locations of the resort, including the resort’s signature performance, the Crane Dance at the waterfront will be developed by multi Emmy award-winning entertainment production design master, Jeremy Railton?

This is not your average busker, mime and juggler entertainment.

Need to cool down and get a bit wet? The mother of all water parks, Equarius Waterpark will incorporate the latest water theme park technology. This is true family fun! And as if that wasn’t enough, it will be complemented by the Quest Marine Life Park.

When RWS said the West zone theme is water, well, they weren’t kidding! The water park will be located just north of the Equarius hotel. The park will be designed by Germany's Melchers Project Management and Canada's Whitewater West Industries and will feature one of the latest thrilling activities; an artificial wave pool.

Here, surfers of various abilities can enjoy the thrill of riding their surfboards on an astounding variety of artificial waves. Kids can enjoy water coaster rides and a 450m water flume cascading around trees. And of course there are also the…. well, let’s just say that much more awaits you in the water-based adventure zone.

Melchers and Whitewater have promised to customize the 1.3 ha water park in order to integrate it with the hillside jungle terrain of Sentosa. So, keep your eyes open!

For the truly adventurous, RWS will include the Marine Life Park (MLP), an edutainment centre where visitors can swim with the whales and tiger sharks at the world's largest aquarium, and an 8ha oceanarium. This behemoth will house about 700,000 aquatic animals and fish. It is believed that MLP will also house the world's largest collection of coral reef.Furthermore, Marina Life Park will offer primary as well as secondary students study tours in and around QMLP.

In addition, it is rumoured that RWS's MLP will offer up to 20 internships to outstanding postgraduate students who will then receive this once in a lifetime opportunity to be placed in a research fellowship programme alongside prominent marine biologists.SGD $100,000 will be set aside for 2008 and 2009 and up to SGD $1,000,000 per year after the opening of the resort in 2010 for research, conservation, environmental and sponsorship purposes.

The purposely set up “Marine Life” fund will also help support a rescue centre including an emergency response team for marine animals in need of urgent care in the coastal waters of Singapore and beyond. The world’s largest man-made dolphin habitat will be based here too! And being very conscious of our marine friends, Shark’s fin will remain off the menus in all RWS based restaurants!

Boston based Chermayeff & Poole have been hired by RWS as consultants for the resort’s 20-million gallon Marine Life Park.Universal Studios Singapore Theme Park. Well, that just about says it all. Located in the East zone, it will undoubtedly become one of Singapore’s main crowd pullers.Universal Studios Singapore will be larger than Universal Studios in Hollywood. It will be as large as or larger than Universal in Orlando (and those of you who have been there can attest to its enormous size).

In fact, this theme park, with an expected visitor number of 5 million a year, will become Asia’s largest.

China's Jingye Engineering Corporation Limited was awarded the SG $ 705 million contract for infrastructure works on the theme park's walkways, facades, the amphitheatre and main buildings. China Jingye is linked to China Metallurgical Corporation (MCC) which built the Beijing Olympic "Bird Nest" stadium.

MCC is also RWS's main supplier of structural steel.There will be at least six themed worlds within Universal Studios Singapore, namely: The Big Apple, The Lost World, Egypt, Hollywood Boulevard, Super Hero City and Dreamworks.

From dinosaurs roaming the lands to erupting volcanoes; from coaster rides that will take you into the world of movies to the Waterworld stunt shows – fun and excitement for all. The total number of themed attractions will be 24, 18 of which will be exclusively designed for Singapore.

It is rumored that even some Hollywood movie productions could well be produced here in the future.

Interestingly most of Universal's 24 attractions will be imported predesigned and prefabricated from major theme park ride manufacturers around the globe. Universal Singapore will not disappoint when we talk computer animation.

Guests are given a peek into the latest computer animation technology by the iconic Dreamworks. Tours will be given where movie buffs can see animation artists at work and learn about computer-generated imagery and the creation of films. Some good news for Singapore residents: RWS is promising to keep the ticket fees affordable to the public.

Tickets are priced at least 30% below that of Universal in Orlando!Plans are in the pipeline to produce and distribute TV programs of interest to Asian viewers around the region.

In fact, with RWS’s signing of a $ 20 million 50-50 joint venture in October 2007 with Reality TV guru, Mark Burnett Productions Asia (MBPA), this should soon become a reality. MBPA are currently based inside RWS’s corporate offices on Sentosa.

It is believed that in the not too distant future, the specially designed multi purpose MBPA studios will be housed somewhere within the RWS IR complex, most likely on the grounds of Universal Studios.

It is rumored that the current corporate office will be transformed into a training centre for RWS staff sometime around 2012.It is expected that RWS will put aside $20-$30 million yearly to fund the maintenance of its major edutainment centres, namely; Universal, Experiential and Marine Life as well as its two entertainment centers, namely; Festivewalk and Equarius.

“Transformers” theme park coming to Resorts World’s Universal Studios Singapore

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Posted October 20,2008

“Transformers,” the electrifying blockbuster celebrated for its multi-generational appeal, inventive storyline, spectacular action sequences and special effects, will now be developed as a new theme park mega-attraction in a partnership between Universal Parks & Resorts, Hasbro and DreamWorks Pictures.

The attraction will fuse 3D-HD media, mega special effects and stunning robotics with a ride system that will transform perceptions of theme park experiences. The rides are scheduled to make their debuts first at Universal Studios Singapore and then at Universal Studios Hollywood, both prior to summer, 2011.

In “Transformers,” Earth’s humans are caught in the middle of an intergalactic war between the friendly Autobots and the evil Decepticons, which are able to change into a variety of objects, including cars, trucks, planes and other technological creations.

Tom Williams, Chairman and CEO, Universal Parks & Resorts, said: “Transformers will be a jewel in our collection of world-class rides based on great movies. We’re thrilled to be collaborating with Hasbro, DreamWorks, director Michael Bay and the film’s executive producer, Steven Spielberg, who has been responsible for so many of our signature rides and attractions.”

Steven Spielberg serves as creative consultant to Universal Parks & Resorts and has worked closely with the company in the creation of some of the world’s most innovative theme park attractions.

Those attractions include Jurassic Park – the Ride, a featured attraction at UP&R parks in Orlando, Hollywood and Japan, the E.T. Adventure at Universal Orlando and Universal Studios Japan, and the War of the Worlds sets at Universal Studios Hollywood.

Tan Hee Teck, Chief Executive Officer of Resorts World at Sentosa, the mega resort that is home to Universal Studios Singapore, said: “It is great that Asia will be the launch pad for the first Transformers attraction. Transformers was introduced to the United States in 1983 but traces its roots to Asia. Optimus Prime, Bumblebee and Megatron are familiar names to Asian audiences, who grew up with the robot toys and love the movie. When Transformers opens in Universal Studios Singapore in 2011, it will be the first of its kind in the world. We may see a surge of Transformers mania.’’

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Posted January 6, 2009

PETALING JAYA: Genting International plc’s unit Resorts World at Sentosa Pte Ltd will embark on an aggressive marketing campaign to build awareness about its integrated resort in Sentosa Island slated to open in 2010.

Assistant vice-president Robin Goh said the company would be “casting its net far” and aggressively promoting the resort to Malaysia, China, India, Indonesia and Thailand.

Robin Goh said: “It will be robust as we have one year to the opening of our doors,” he told StarBiz.

While he did not elaborate on the amount allocated for the awareness campaign, he said it would be a “sizeable amount running into the millions.”

He said the advertising blueprint was still being reviewed.

“We will be heavy on advertising, be it basic or supporting media. We will organise roadshows and take part in trade shows organised by ourselves or parent company Genting.

“Of course by the second half of 2009, we will reveal our hotel and ride rates,” he said.Goh said the company was forging ahead with confidence despite the lacklustre economy.

“We need good reason for people to come to this part of the world,” he said.

The 49ha mega resort is on track to welcoming 15 million visitors in its first year of operations.

The S$6bil Resorts World at Sentosa, developed by Genting International, will boast the first and only Universal Studios theme park in South-East Asia, Marine Life Park, Maritime Xperiential Museum and six world-class hotels.Goh said the first four hotels to open would be Hotel Michael, Maxims Tower, The Hard Rock Hotel and Festive Hotel.

By The Star (by Eileen Hee)

Reports Say Casino Magnate Stanley Ho Will Not Have Stakes in Sentosa Casino

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Posted February 19, 2007

According to newspaper reports, Macau's casino tycoon, Stanley Ho will not have stakes in a
gambling casino which is being built in Singapore by Malaysian leisure group, Genting Bhd.

Resorts World is the ambitious $3 billion casino development project of Genting on the southern Singapore island of Sentosa, set to open in 2010.

As Jackson Loy, Assistant Communications Director for Genting stated, "Mr. Ho will not be having any interest in the Resorts World at Sentosa project." Loy provided the statement on the sidelines of a tourism forum, but he declined to comment on the reports of a government probe into the company's dealings with Ho.

Last month, Genting Bhd. claimed that it would sell a small stake in the Sentosa casino to Ho, and that in turn, it would buy a controlling interest in a new gaming project that Ho is planning to develop in Macau. Star Cruises, a Genting subsidiary, said that under its agreement with Ho, some shares amounting to 7.52% of the company would be sold to Ho and a group of investors, a move that could translate to $84 million.

Nonetheless, when Genting won the casino license for Sentosa, it beat out 2 bidders, including Melco International Development, which is controlled by Ho's son, Lawrence. Las Vegas Sands won the very first casino project for Singapore, located along its downtown waterfront. The project has a price tag of $3.2 billion, and is due to open in 2010 as well.

Another side of Singapore

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Posted Feb 18,2007

FROM inside the gaping mouth of the Merlion, nine stories above ground, I surveyed the island of Sentosa and, across the harbor, the skyline of Singapore.

The Merlion -- half fish (as in mermaid) and half lion (as in the Lion City) -- is the mythological guardian of Singapore. This 121-foot-tall statue stands watch over Sentosa, a 1,230-acre island just off Singapore's southern coast that will be an oasis from the urban uproar.

It has a ringside seat to some financial fireworks: About $7.5 billion in investment is expected here in hopes of making it a tourist destination.

Sentosa, just 15 minutes from the heart of the city of Singapore, once was called Pulau Blakang Mati, which translates loosely as "island of those who die behind," possibly a reference to a malaria epidemic that decimated its population in the 1840s. The switch in 1972 to Sentosa, which means "tranquillity" in Malay, hints at the changes developers hope for as it works to position itself as a destination and not just a side trip from the capital.

Today, Sentosa has one foot in fantasy land and one foot in a future in which Singapore embraces, well, Southern California, with a gated community of luxury homes and a yacht marina. As I discovered on a visit here in September, it's moving ahead, but for now, it has a split personality and remains a destination that's still on the verge of achieving its potential.

As Asia continues to attract tourists, it will have to pull out even more stops.

Although Singapore tourism exceeded its goal in 2006 -- 9.7 million visitors generated $8.1 billion -- it faces growing competition in Asia for tourist dollars.

Macao, with its eye on the newly prosperous and gambling-enchanted Chinese, has gone casino crazy.

Now Singapore, which long banned casinos, has capitulated to the trend. Two casinos have been OKd, and Sentosa will have one of them, a golden opportunity for the resort island, where management appears poised to seize the moment.

Bridge to the big city
SINGAPORE, an island city-state that lies south of Malaysia and north of Indonesia in Southeast Asia, became independent in 1965 after more than a century under British rule and a few years as part of Malaysia.

A short bridge links Sentosa, one of Singapore's larger outer islands, to the mainland. Many of Sentosa's day-tripper attractions -- a few of which give kitsch a bad name -- are grouped at its western end. At the eastern end are the luxurious Sentosa Resort & Spa, serious restaurants and two 18-hole golf courses. (Sentosa hosts the Singapore Open.)

Packer loses on casino bid

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Posted December 11, 2006

PUBLISHING and Broadcasting Ltd (PBL) has been unsuccessful in obtaining a casino licence from the Singapore government, as part of the Eighth Wonder Asia syndicate.

PBL (Quote,News) and its joint venture partner in Asia, Melco International Development Ltd, had joined the bid for Singapore's second casino licence as a minority participant in the consortium headed by the US firm, Eighth Wonder.

The syndicate had placed a bid to operate an integrated resort including a casino on Sentosa Island, Singapore.

PBL executive chairman James Packer described the participation by the Melco/PBL joint venture in the bidding process as a valuable experience.

He said Melco/PBL would continue to seek further opportunities for investment in the rapidly expanding Asian gaming, hospitality and entertainment markets.

Mr Packer said he had been enormously impressed by the Eighth Wonder concept conceived by Mark Advent and by the depth of creative talent, energy and professionalism of the consortium partners.

Mr Packer said in October the company had joined the consortium bidding for the right to develop a $US3.5 billion ($4.71 billion) resort and casino.

The Las Vegas-based Eighth Wonder Consortium was short-listed alongside Kerzner International with partner CapitaLand, and the eventual winner of the bid Genting International Star Cruises.

Genting won approval for the proposed Resorts World at Sentosa, a casino resort which will be home to the region's first Universal Studios theme park.

The park will also include DreamWorks Digital Animation Studios.

Resorts World at Sentosa, is to be launched by early 2010.

It will include the world's largest oceanarium, Quest Marine Life Park, and a theme parked called Equarius Water Park.

It will also include six hotels with a combined 1830 rooms.