Showing posts with label MediaCorp. Show all posts
Showing posts with label MediaCorp. Show all posts
Thursday, February 25, 2010

AXA APPOINTS NEW INDEPENDENT DIRECTORS

Posted by PrfyVdlx at 12:17 AM Labels: , , , , , , ,

AXA SAImage via Wikipedia


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SINGAPORE - Insurance giant AXA has appointed prominent Singapore lawyer Lee Suet-Fern (picture) to its board as an independent director.

The move is part of AXA's plans to improve corporate governance.

In October last year, AXA proposed a number of changes to its governance regime, which included the creation of a single board of directors to replace its dual board structure.

When contacted by MediaCorp, Mrs Lee said, "The appointment is a recognition of the growing importance and influence of Singapore in the world, an Asian voice with an understanding of Asia that the West trusts. It is a huge honour for Singapore."

AXA is one of the largest companies in the Fortune 500 list. No Singapore company, even those with the largest market capitalisation such as SingTel and Singapore Airlines, has ever made it to the Fortune 500 list.

AXA also owns possibly the largest publicly-traded asset manager, Alliance Berstein, which is listed in New York.

Mrs Lee is currently Senior Director of Stamford Law Corporation (Singapore).

According to AXA's website, Mrs Lee is one of two new independent directors appointed to the board. The company has 15 directors, of whom 11 are independent.

The new appointments are subject to shareholder approval. Millet Enriquez

From TODAY, Monday, 22-Feb-2010
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Thursday, February 18, 2010

Cascaded Business: An intended effect, or an accidental result?

Posted by PrfyVdlx at 9:19 PM Labels: , , , , , , ,
PIGGYBACKING ON THE RESORTS
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SINGAPORE - With the opening of the Resorts World Sentosa casino, more light is being shed on who has struck gold so far with the integrated resort: A plethora of businesses.

Both IRs have kept hush-hush the contracts they have awarded, but the advertisements in newspapers congratulating RWS this week, paid for by a slew of companies, reflect where many deals have gone.

They range from banks, both local and foreign, to construction and engineering companies that had a hand in building the six hotels, malls and theme park.

They also include suppliers providing equipment such as audio-visual systems, tools and furniture as well as service providers, for instance, in plumbing, cleaning and laundry.

And at first glance, IT vendors would seem one of the biggest beneficiaries.

NEC Asia was awarded a $4-million contract to provide the ticketing and admission system to the Universal Studios theme park.

All the computers at the sprawling 49-ha Sentosa property will be supplied by Chinese PC giant Lenovo under a multi-million-dollar deal. More than 3,000 computers are estimated to be needed over the next three years, for front-desk operations to backend offices.

All of RWS' servers are provided by Dell.

University of Nevada Las Vegas Singapore dean Andy Nazarechuk told MediaCorp that the large number of visitors to an IR is what accounts for the spillover benefits to other sectors.

"Vendors will need to increase staff, more consultants will be needed, special event companies will have more events to produce and travel agents and transportation services will be very busy once the IR is open," he said.

Home-grown firms are also getting a fair share of the IR pie.

For instance, DDS Contracts & Interior Solutions was awarded a $48-million contract last January to fit out RWS' 150,000-sq m casino and to supply gaming furniture.

Up to 80 per cent of the utensils and crockery used at the Genting property are from local kitchenware supplier Lau Choy Seng.

And of the six zones in the Universal Studios theme park, three of them - Lost World, Jurassic Park and Egypt - were designed and constructed by a joint venture between Singapore's Pico Art and Australia's Sanderson Design Group under a US$30-million deal.

Among other things, ST Electronics are behind the Sentosa IR's integrated security system, IT infrastructure system and a car park guidance and payment system.

RWS also became one of the first backers of SingTel's corporate pay-TV ambitions.

Under a seven-year contract of undisclosed value, all 1,800 rooms in the six RWS hotels will be equipped with SingTel's mio TV service, which guests can use to surf wirelessly, play computer games as well as access music and content. ADDITIONAL REPORTING BY NEO CHAI CHIN

From TODAY, Friday, 19-Feb-2010
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Wednesday, February 17, 2010

Will It Be Good For The People, Too?

Posted by PrfyVdlx at 10:16 PM Labels: , , , , , , ,

Basement Car ParkImage by chooyutshing via Flickr

SENTOSA BENEFITS FROM CASINO OPENING

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SINGAPORE - The opening of Resorts World Sentosa's (RWS) casino on the first day of the Chinese New Year might have stolen the thunder from the rest of the tourist attractions on Sentosa, but it certainly did not hurt their business.

The spillover from the hordes of visitors flocking to RWS over the long weekend for a peek at the Republic's first casino boosted visitorship at the other tourist spots on the island by as much as 25 per cent on average - compared to the same period last year, operators told MediaCorp.

Tourists at the other attractions were glad that despite the increased traffic, there were none of the bottlenecks like those seen at RWS' casino. Undergraduate Michelle Pan, a 22-year-old Malaysian who visited the casino on Tuesday and was at the Sky Tower yesterday, said: "There are still quite a lot of people but the queues move faster."

When MediaCorp visited Sentosa yesterday, the monorail, shuttle buses and trams were mostly packed, although the snaking queues at the stations and bus-stops moved quickly.

However, at hotspots such as The Merlion, it was impossible to take a photograph without capturing others in the shot.

Popular attractions such as Sentosa Luge and the Underwater World also had 15-minute queues, made up mostly of tourists here to take in Singapore's first integrated resort (IR).

China national Guo Xing who was with his family, visited the beach and Underwater World after touring RWS yesterday. The 42-year-old businessman said: "Since we had already entered the island, we decided to see some of the other attractions as well."

General manager of Sentosa Luge, Mr Lyndon Thomas, said there was "no doubt" the island's star attraction would benefit all businesses on Sentosa. Café del Mar's operations manager, Mr Adrian Lee, said business could improve by another 15 per cent when the IR is fully open.

"Tourists who stay in the island's hotels will be here for several days and we're hopeful that a good number of them will want to explore the rest of the attractions, beyond the shopping, theme park and casino at the IR," he said. Teo Xuanwei

From TODAY, Thursday, 18-Feb-2010

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