NEWS
Singapore breaks ground on river theme park
ASIA
DISCARDING the ultra-conservative trends that have been brought about by the global financial meltdown, Temasek Holdings, the investment vehicle owned by the government of Singapore, has broken ground on River Safari - the world’s first river-themed park. Set for completion in the early part of 2012,
the S$180m (US$128.3m) park will be located in Mandai, a rainforest region located to the north of the tiny island city-state. For an admission fee of around S$30, visitors
will be able to enjoy boat safari rides and experience the uniqueness of the world’s most famous rivers, including the Nile, Yangtze, Mississippi and Amazon. River Safari will also host two major theme
rides: white water rapids, where visitors will be able to observe Malayan Tigers, and an Amazon slow boat ride, where guests will be able to see more than 20 different types of animal from South America. “With its tropical rainforest setting and rich
biodiversity, Mandai provides a compelling contrast to the largely urban environment of Singapore, with the potential to attract five million visitors a year,” a senior minister said. The news comes hot on the heels of the
opening of Resorts World Sentosa, the sprawling mixed-use destination in Singapore that includes the state’s first casino, several hotel resorts and south-east Asia’s first Universal Studios theme park.
Religion-themed park tabled
A RELIGION-themed attraction is being planned for the Subic Bay Freeport Zone, Philippines. According to sources emerging from the
region, the Subic Bay Metropolitan Authority has approved a proposal by a not-for-profit organisation to construct a new theme park built around the concept of the Holy Land. The “new Jerusalem experience, right here
in Central Luzon,” as administrator Armand Arreza was quoted, is touted to be the first of its kind in Asia. Arreza said the proposed tourist attraction will be built by the Holy Land Subic Foundation on a 20-hectare area. Groundbreaking for the project is expected to be held in June.
Coin Tech celebrates India installations
DEBIT card systems group Coin Tech continues to build its global presence, alongside Indian operator Fun City. Fun City India recently installed six family
entertainment centres across India, working closely with Coin Tech. Current locations include Mumbai, Bangalore, New Delhi and Chennai. Now, Fun City has confirmed the opening
of five new stores during 2010, utilising Coin Tech’s Game System management tool in every location.
Courts reject Selegna ‘rehabilitation’ plan
THE sister company of the corporation that built the mothballed Expo Pilipino theme park in Angeles City, Philippines, has lost its bid to suspend payments of over PHP800m (US$17.6m) in debts, after the country’s Supreme Court denied its proposed rehabilitation plan. Selegna Holdings Corporation, a company
linked to Asian Construction Development Corporation (AsiaKonstrukt), was denied a reversion of a high court ruling dated July 6, 2009, which did not grant the petition for rehabilitation of the company, under which payments to debts are suspended and rescheduled until financially distressed companies are able to revive their business. The ruling also upheld earlier decisions by
the appellate courts, including that of the Court of Appeals, which said in its ruling of October 2008 that Selegna Holdings’ plan was a “mere ploy,” and a “last-ditch effort” to evade creditors now running after its assets. In its final ruling dated March 22, the
high court said Selegna Holdings raised no “substantial argument to warrant a modification of this court’s [earlier] resolution.”
US Pavilion announces new CEO
SHANGHAI Expo 2010, the organising body of the US Pavilion at the Shanghai Expo 2010, has announced that Martin Alintuck has been appointed president and CEO. Alintuck replaces Nick Winslow, who guided SE 2010 from inception, through
to the May launch of the US Pavilion, to its first month of operation during which time the stage welcomed one million guests. “Nick brought us from merely an idea to an extraordinary presence at the
Expo,” said Kenneth Jarrett, chairman of the board of SE 2010. “We thank him greatly for his contributions as president and are grateful that we will have his continued advice and counsel on the board.”
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