Star Cruises To Review Macau Investment

Written on February 14, 2007 by admin

Cruise line operator Star Cruises, part of Genting Bhd, said on Feb 14 it was reviewing the deal structure of its plan to invest in a piece of property in Macau.

Star Cruises - which is listed in Singapore and Hong Kong - had said on Jan 22 that it would be buying a Macau property which would be developed into a casino hotel and would be operated by gambling mogul Stanley Ho.

Star Cruises said it is “reviewing the structure in relation to its investment in Macau Land Investment Corporation” and has therefore delayed sending out a circular with regards to the transaction, it said in a statement to the Hong Kong stock exchange.

The Star Cruise statement comes after the Singapore government said last week that it was seeking clarification from Genting Bhd., which is set to build and run a US$3.4 billion (RM11.8 billion) casino in the city-state, over its tie-up with a group of investors including Macau’s Stanley Ho.