Singapore’s Temasek buys stake in Philippine casino

Belle GrandeSingapore’s state investment fund Temasek Holdings said in a filing to the Securities and Exchange Commission earlier in June that it has acquired a 5.02 per cent stake in Melco Crown (Philippines) Resorts Corp., a subsidiary of Macao-based Melco Crown Entertainment Ltd. which is currently developing  the $1-billion Belle Grande Manila Bay resort-casino.

Temasek said the acquisition was undertaken through its units Temasek Fullerton Alpha Pte. Ltd., Swordfish Investments Pte. Ltd. and Fullerton Fund Management Co.

Belle Grande, which will rise on a 6.2-hectare site in a state-run Entertainment City complex in Manila, is scheduled to be completed by mid-2014. The complex is expected to have over 250,000 square meters of gross floor area, including 17,000 square meters of gaming space and 20,000 square meters of retail and restaurant facilities. It will also have 920 hotel rooms.



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Singapore's state investment fund Temasek Holdings said in a filing to the Securities and Exchange Commission earlier in June that it has acquired a 5.02 per cent stake in Melco Crown (Philippines) Resorts Corp., a subsidiary of Macao-based Melco Crown Entertainment Ltd. which is currently developing  the $1-billion Belle Grande Manila Bay resort-casino. Temasek said the acquisition was undertaken through its units Temasek Fullerton Alpha Pte. Ltd., Swordfish Investments Pte. Ltd. and Fullerton Fund Management Co. Belle Grande, which will rise on a 6.2-hectare site in a state-run Entertainment City complex in Manila, is scheduled to be completed by mid-2014. The...

Belle GrandeSingapore’s state investment fund Temasek Holdings said in a filing to the Securities and Exchange Commission earlier in June that it has acquired a 5.02 per cent stake in Melco Crown (Philippines) Resorts Corp., a subsidiary of Macao-based Melco Crown Entertainment Ltd. which is currently developing  the $1-billion Belle Grande Manila Bay resort-casino.

Temasek said the acquisition was undertaken through its units Temasek Fullerton Alpha Pte. Ltd., Swordfish Investments Pte. Ltd. and Fullerton Fund Management Co.

Belle Grande, which will rise on a 6.2-hectare site in a state-run Entertainment City complex in Manila, is scheduled to be completed by mid-2014. The complex is expected to have over 250,000 square meters of gross floor area, including 17,000 square meters of gaming space and 20,000 square meters of retail and restaurant facilities. It will also have 920 hotel rooms.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

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Personal Info

Donation Total: $10.00

 

 

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