We expect Singapore’s gross gaming revenue (GGR) to hit an impressive US$6bn in 2011E and US$7bn in 2012F (yet to include potential impact of junkets). While junkets could lead to potential cannibalisation of the direct VIP segment and lower margins due to commissions, these should be mitigated by stronger volume growth and lower receivable provision/ impairment.
Tourism receipts in Singapore rose 12 per cent from a year earlier to about S$6 billion in the third quarter of last year, the Singapore Tourism Board said yesterday.
This takes the total tourism receipts to about S$17 billion for January to September, up 22 per cent year-on-year.
Singapore's real estate investment sales hit S$28.6 billion in 2011. This is slightly more than the S$27.9 billion worth of deals concluded in 2010.
This is based on data compiled by property consultancy firm DTZ Research on transactions that are above S$5 million in value. It excludes the S$1.1 billion worth of transactions in single residential units and lots that cannot be redeveloped or subdivided into more than one plot.
The economy grew 3.6 per cent in the final three months to December to lift growth for the whole year to 4.8 per cent.
But in a worrying sign of things to come, the pace of growth dropped significantly with the economy contracting on a quarter on quarter basis.
The economy shrank 4.9 per cent in the last quarter when compared to the June to September period.
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On Sunday 4 December, the French Chamber of Commerce in Singapore (FCCS) together with L’Angelus launched the first edition of La Paulée de Singapour at Fort canning Park!