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Star Cruises withdraws from Singapore venture

SINGAPORE – As reported by Reuters: "Genting International said sister firm Star Cruises would withdraw from a $US3.4 billion ($4.34 billion) Singapore casino venture, leaving the gaming company in full control.

"Continuing its attempts to placate Singapore authorities unhappy about its links with Macau gambling tycoon Stanley Ho, Genting International said it planned to buy Star Cruises' 25 per cent stake.

"Star Cruises and Genting International are both controlled by Malaysia's Lim family through the Kuala Lumpur-listed gaming group Genting Bhd.

"…On Saturday, Genting International said it would divest its share in a proposed partnership with Ho to give Star Cruises the entire 75 percent stake in a Macau hotel casino to be run by him…"

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