atans1

Posts Tagged ‘Sentosa’

Brit hedgies bearish on Asia/ Khong kanna wait longer?

In Emerging markets, Property on 28/04/2015 at 6:09 am

From yesterday’s Lombard column in FT

Bearish hedgies have confined themselves to shorting shares in Asia-focused fund managers …

Crispin Odey is chief among Mayfair’s prophets of doom. The pioneering hedge fund manager expects collapsing eastern markets to tip the world back into recession. He has accordingly sold 6.4 per cent of Ashmore and 1.5 per cent of Aberdeen in expectation of their shares dropping. About 16 per cent and 8.6 per cent of these fund managers’ free floats have been sold short, according to Markit.

,,, Aberdeen, for example, is a skilled Asian fund manager in the view of pundit Mark Dampier of Hargreaves Lansdown. Short sellers probably just think Martin Gilbert’s group specialises in a product so dangerous that it would be transported in lead-lined vessels if it were a physical commodity.

Shares in asset managers offer geared exposure to the markets in which they specialise. Their overheads stay the same, at least temporarily, even as their assets balloon or deflate in response to fluctuating stock prices and fund flows. Bears are presumably shorting Asian stock index futures too, though less visibly.

If the bears are right, Khong and Blackstone may have to wait to receive their rewards from Sentosa

https://atans1.wordpress.com/2015/01/27/sentosa-cove-god-tells-khong-to-wait-5-yrs-2/

and

“Blackstone seems to look for distressed assets and deep value,” said Vikrant Pandey, an analyst with UOB Kay-Hian Pte in Singapore. “In the U.S. it lapped up mass market apartments for their rental yields and deep value. In Singapore the luxury segment is offering deep value compared to mass market.

http://www.bloomberg.com/news/articles/2015-03-31/blackstone-singapore-property-bet-seen-winning-as-elections-loom

Sentosa: Better value in Asean/ Bali sounds value for $

In Uncategorized on 01/11/2014 at 5:20 am

Last Saturday, Today triumphantly proclaimed

For the second year running, Sentosa has been named Southeast Asia’s most expensive island destination by TripAdvisor in a cost comparison report.

The TripIndex Island Sun Report 2014 by the world’s largest travel site looked at the cost of an overnight stay in a four-star hotel, dinner for two, beers, a one-hour massage for two, and bicycle and kayak rentals at 16 popular island destinations across South-east Asia in its study.

 In comparison with Bintan, the second-most expensive island on the index, a day out for two on Sentosa island would set visitors back by S$1,005.53, almost twice the amount it would cost in Bintan, which totalled S$694.70.

 A massage for two costs S$315.33 on Sentosa, three times more than Boracay in the Philippines (S$93.11) and six times more than Phu Quoc, Vietnam, where it costs S$50.67. Bicycle rental on Sentosa for two costs S$90, but only costs S$10.94 in Lombok and S$5.29 in Bali.

Hotels were the most expensive item on the list, making up about half of the total cost for most islands.

scan0001

It then realised that this wasn’t putting Sentosa in a gd light and swerved, as bwfits a constructive, nation-building newspaper, The Singapore island had a very different value proposition from the other South-east Asian islands and that TripAdvisor’s findings did not give a full and accurate representation of its value-for-money offerings.

“A two-course meal for two with drinks can be had for less than S$50 at some of the dining venues on the island. Guests to Sentosa can also enjoy good value through our PlayPass, which gives them the flexibility to choose from various attractions on the island at affordable rates,” he said.

“Locals who sign up for our Islander membership programme also get to enjoy unlimited entry to Sentosa all year round, in addition to many other discounts and privileges.”

And spun on, TripAdvisor also noted in its report that Sentosa offered world-class attractions, despite the higher cost in comparison with the other more affordable islands, and that it was home to a diverse selection of themed attractions and leisure experiences that appeal to guests with different interests and of any age group.

Those attractions included Singapore’s first integrated resort, Resorts World Sentosa, which operates South-east Asia’s first Universal Studios theme park, the S.E.A. Aquarium, Maritime Experiential Museum and the Adventure Cove Waterpark, said the travel site.

Universal Studios Singapore and the S.E.A. Aquarium were also given 2014 Travellers’ Choice awards.

The value propositions are, At the other end of the spectrum were Gili Trawangan (Indonesia), Bali (Indonesia) and Koh Samui (Thailand) — the three most affordable islands in the region. Gili Trawangan offered the best value for money, costing travellers no more than S$300 for a day on the island.

.

High rollers take bus to Sentosa casino?

In Casinos, Economy on 23/06/2010 at 5:49 am

Genting S’pore’s share price has been strong presumably because of expected high takings at its Sentosa casino.

Well if takings are high, it ain’t from high-rollers.

Sunday Times carried an article saying that at Resorts World Sentosa there is a bus terminus for buses from various points in West Malaysia and back, and that the buses are used by Malaysian punters visting the Sentosa casino

Err these high rollers that Sentosa IR and S’pore government want? Looks more like the M’sian equivalent of the grind market gamblers that once travelled from the HDB heartlands to Genting Highlands. Oh and BTW, Genting use budget airline AirAsia to bring in “high rollers”, unlike Marina Sands that has its own jet based in Senai because Changi is too expensive.

Can you imagine high rollers taking the bus from Senai to the city? It’s a two hr ride at least.

PM make yrself, yr government and party popular with the “little” people: Lift the charges that make it expensive for the locals to gamble at the casinos. As to the problem gamblers that seem to the issue, treat them the way the government treats the homeless, destitute and unemployed: “It’s yr fault, you are that way. Be responsible.”

And admit to yrself that the IRs are being kept afloat by the” little” people of S’pore and Malaya, not the high rollers and money-launders.

You can declare it a success that the fact that high rollers and money launders are giving S’pore a miss:  the rules here on junket tours, money laundering and non-privacy are the toughest in the world.

Update 25 June

Why Marina Sands must be targeting locals and not high rollers and tourists — or why the numbers don’t add up https://atans1.wordpress.com/2010/06/24/why-mms-and-sands-views-on-casino-differ/

Casinos: High rollers? You must be kidding?

In Uncategorized on 24/04/2010 at 6:19 pm

The casino at Marina Sands opened yesterday. Both casinos are now operational.

When the casino projects were launched several years ago, the government, Sands and Gentings were spinning that the casinos were for high rollers. They were not interested in the mass market. The government has since gone silent but the casinos are still spinning that.

But then how come Resorts World announced that it was partnering Air Asia to bring in the punters. I’m wondering what kind of high rollers fly budget airlines?

And last week Tuesday, BT reported that Marina Sands is partnering 12  M’sian coach operators “in an effort to attract more tourists to its integrated resort which opens later this month.” “Coach prices will range between $55 and $110 (return).”

Err this the high roller traffic Sands boasting about? Sounds like the grind (small punters) market to this punter.

And it would seem the patrons are locals. A recent report by Bank of America Merrill Lynch (BoAML) estimates that about 50-60%  of the casino patrons at Resorts World Sentosa (RWS) are Singaporean. BoAML also believes that the casino attracts between 20,000-25,000 visitors on weekdays (with more on weekends).

Vincent Khoo, an analyst at UOB KayHian (Malaysia), says there has been noticeably lower visitor arrivals to Genting Highlands from Singapore since RWS opened.

Apart from Macau, casinos are set to pop up all over Asia: in Taiwan, Vietnam, and the Philippines. “One market that will have to play close attention to growth of new markets in Asia is Australia, which currently sees a large number of tourists from the likes of Taiwan, Korea, China, and India visit its casinos,” says Warwick Bartlett, GBGC chief executive reported BT. “The real test is whether these new properties will satisfy demand that is currently not being met, or if they are simply shifting the same gamblers and their money around different venues.”

Applied to S’pore, can it attract the OZ-bound punters? And get the Indians, Taiwanese, Koreans and Chinese to come here?

And if you want a holiday around Melbourne, I know a gd package deal. So long as you are willing to spend S$10,000 in a casino, you can get airline tickets for two, a five-star hotel room, and a limo to and from the airport. A top race horse trainer I know thinks it value for money. He says he and his wife spend that much when they visit their children in Melbourne. And as he added, “And I could get lucky”.

Update 28 April 2010

At least we known Marina Sands will not use a budget airline to fly punters from the  Middle East. Sands has a wide-body aeroplane. (Update on 6 May: this aircraft is based at Senai in Johor because Changi is a lot more expensiveaccording to someone senior at the former.)

Follow

Get every new post delivered to your Inbox.

Join 239 other followers