Daily Archives: 29 Sep 2009

Developer KOP sails into yacht business

Posted on 29 Sep 2009 | Comments Off on Developer KOP sails into yacht business

PROPERTY developer KOP Group is moving into the yacht business with the launch of a $48 million joint venture that is poised to sell and manage luxury cruisers.

The new business, Princess Yachts Asia, has secured the exclusive distribution rights for British luxury yacht brand Princess Yachts in Singapore and most of China.

KOP and its partner, China conglomerate Reignwood Group, whose businesses include property development, are investing the money over the next 12 months. KOP holds a 40 per cent stake, and Reignwood 60 per cent.

Initially, the business is offering four Princess yachts in Singapore for sale or lease.

KOP has set up yacht management service company Aqua Voyage to work alongside Princess Yachts Asia and offer private cruises to destinations across Asia. It will also help yacht owners lease out their boats on the charter market.

KOP’s chief executive officer, Ms Ong Chih Ching, said yesterday that the group’s foray into the leisure marine sector was based on what it saw as the huge growth potential in Singapore. Continue reading →

Comments Off on Developer KOP sails into yacht business

Posted in Developers

Tagged , ,

Let’s get real on the Sports Hub

Posted on 29 Sep 2009 | Comments Off on Let’s get real on the Sports Hub

THE clock is ticking as Singapore awaits the outcome of discussions between the government and the consortium tasked with building the country’s $1.87 billion Sports Hub.

The mega-project in Kallang – originally scheduled to be ready by end-2010 but which will now be completed only in mid-2013 at the earliest – has been delayed time and again, chiefly due to financial and legal issues.

It’s time for the authorities and other relevant parties to come clean and make clear their plans for the hub going forward, because whatever they say will have a bearing on the Republic’s ambitions to be a major player in the international sporting arena.

The Singapore Sports Hub Consortium must set itself a deadline to decide on what to do next. Pick a date (the sooner the better), work within that timeframe and come up with a firm working plan on how the hub should progress, after factoring in all the various stumbling blocks.

In the event that securing bank loans is still a problem next year – a distinct possibility, given the scale and budget of the Sports Hub – then a Plan B must be activated. Continue reading →

Comments Off on Let’s get real on the Sports Hub

Posted in General

Tagged ,