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Singapore Officials: No Changes to Casino Requirements

17 January 2006

SINGAPORE – As reported by the Dow Jones: "Singapore Tuesday rejected suggestions that it had imposed new requirements on parties vying to build and operate the city-state's first casino resort, saying the terms haven't changed since the launch of tenders in November last year.

"'The RFP (request for tender) requirements, including requirements on probity, have been stated upfront in the RFP. These requirements have not changed since the launch of the RFP in November 2005,' Margaret Teo, a director at the Singapore Tourism Board, said in an e-mailed statement to Dow Jones Newswires.

"…In a surprise move late Monday, City Developments Ltd. (C09.SG) said it has withdrawn from a joint bid with Las Vegas Sands Corp. (LVS) to build a casino resort at Marina Bay, blaming 'regulatory requirements associated with the bid' that were raised after it announced the partnership…"

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