Integrated or mixed use development needs in a broad range of hotels and tourism, commercial and residential real estate industry, including some depth of understanding. Projects of this nature typically have a focus for business or leisure. Business-driven comprehensive development Office, hotel, residential development, such as high-rise apartments, retail and urban leisure products. Leisure focused on development, including leisure facilities such as golf courses, Marina, resorts, villas, luxury villas, apartments and leisure retail on the lower Corniches. These anchors often formed part of a regional initiative to attract investment, increase of regional profiles.
In the past 10 years, many cities are transforming itself, creates more value and increase in tourism and hospitality flow, stimulate and boost the country economy. In Asia, Hong Kong Disneyland opened in September 2005, talks of building construction of a casino on Lantau Island. In Thailand, Asia’s first integrated Resort (IR), Laguna Phuket, by 7 luxury, luxury hotel offers a range of facilities and activities, such as golf courses, spas, restaurants and water sports, was founded. However, the proposal was blown because Thailand strict laws ban gambling .(Bangkok Post 2011).
Singapore Integrated Resort
On April 18, 2005, Prime Minister Lee Hsien Loong stressed in a statement, Singapore launched a new tourism attraction and reformed itself an ‘urgent need’, the IRS can provide a new, interesting and profitable alternatives (PM Lee Hsien Loong declared an statement long synthetic resort, April 18). In addition, the collection-building means that there will be close to the IRS ‘spillover effects’ on Singapore in other sectors of the economy, particularly within the enterprise of Intergrated Resort
According to the Urban Redevelopment Authority and Ministry of National Development estimated that by 2011 Singapore would require more than 10,000 hotel room supply.
IR can also establish Singapore as the ideal location for MICE which are venue facilities for meetings, international conferences and events.
Integrated Resorts contributed largely to last year’s tourism boom that brought S$7.9 billion in valued-added in the first nine months of 2010.
According to the Ministry of Trade and Industry, about half of this amount or S$3.7 billion in value-added came from tourists who traveled to Singapore specifically because of the two IRs. This amounts to 1.7 per cent of nominal gross domestic product – GDP that is not adjusted for inflation.
This puts the IRs well on track to meet the S$5.4 billion target by 2015.
Tourist spending at the IRs also created some 30,300 jobs in the first three quarters of last year, about a quarter of the 111,500 new jobs generated by overall tourist spending in the same period.(Singapore Business News 2011)
With both the intergrated resort service is fully operational, with the opening in June 2010-February 2010 RWS resorts world Sentosa, has brought the Government expected economic benefits. The IRS has created more than 20,000 jobs, (Statement by PM Lee Hsien Loong on Singapore Integrated resort, 18 April 2005) and estimation of the Ministry of trade and industrial exhibitions, in the first 9 months of 2010, the United States Internal Revenue Service $3.7 1 billion contribution, or 1.7%, of Singapore, on behalf of the gross domestic product (GDP). This amount does the tourism industry in nearly half of the US $ 7.9 billion in the same period of economic inputs (IRS into higher-than-expected $3.7B-the Straits Times ‘(Straits Times), February 18, 2011). In addition, the United States Internal Revenue Service has established a spillover to other sectors of the economy, from hotels to food and beverages (F&B). The Workforce Development Agency is endorsing training courses to encourage hoteliers to improve their service quality through staff training. Tertiary Education Institutions are also offering courses to build potential work force for the industry.
Singapore tilt S$18,800,000 billion tourism receipts (TR) in 2010, the highest in a decade. This is from growth of 2009, more than 17.5 per cent previously forecast Singapore dollars (2010, Singapore’s tourism income hit a 10-year high in 2011-news channel in Asia). Two TR quarter 2011, estimated at US $ 5 billion dollars, registering 18%, growth over the year (US $ 5 billion in tourism revenues as of Q2 jumps 18%-Straits Times, October 25, 2011). These collection is mainly including shopping, dining, entrance fee and accommodation fee. The growth is due to the increase in tourism spending, particularly from Indonesia, India and Chinese tourists, as well as positive economic sentiment and two IR opened international visitors increased. Overall, the two IR into higher-than-expected $3.7B, contributions they are expected to reach 5.4 billion dollars by 2015 targets (the Straits Times, 2011). It was also forecast, business is booming, room revenue than 10% per cent growth registered a year earlier, while the average hotel occupancy rate is expected to be wandering around in 2011 80-85%, this is the hotel industry. Singapore service set in the 2011 shine.
In addition, Singapore’s crime rate has remained fairly stable which is a good news, relative to other countries casinos, Casino-related crime rate here is considered to be low, only 0.3% of criminal cases. In all criminal cases and country of Macao’s 33 casinos last year crime 15%, significantly higher figures. In the first year of operations of the internal revenue service, Singapore Police arrested 112 people Casino-related crime, mostly petty crimes. However, some critics warn, because the IRS operations only within a very short period of time, it is still too early to determine whether the IRS has to a large extent affected Singapore’s crime rate. As can be seen from the above, it is safe, the IRS did not contribute significantly increased, Singapore gambling. Although there are increasing reports of gambling, there are sufficient measures to contain them. Exclusion orders, denial of access to casino gambling addicts, prevented them from imposing fees of us $ 100 to the local people to patronize casinos, and social safety nets, such as consulting services for those who wish to seek help on problem gambling.
In short, Integrated Resort Service has made a great contribution to Singapore’s economic growth to attract tourists, significantly increased the number of visitors. Other sectors of the economy, particularly services and hotels, also benefit from spillover from IR prosperity. In February 2012, 60,000 jobs have been created in the IRS and the broader economy as a whole, Singapore’s gross domestic product (GDP) 1% per cent In conclusion, the IRs have contributed greatly to Singapore’s economic growth by attracting tourists, causing tourists arrival figures to increase significantly. ( Straits Times 2012).
Malaysia Genting Berhad (Organization Background)
History of Genting Berhad Malaysia, Famous holiday resort and Malaysia only casino bosses are intertwined. Genting founder Tan Sri Lim Goh Tong building a world-class mountain resort has a dream, part of the dream was to build a casino, will rival any in Asia. On April 28, 1969, he submitted an application of Casino licences to Malaysia, Prime Minister Tunku Abdul Rahman. Is sheer providence, was holding a cabinet meeting in the afternoon, and Tan Sri Lim Goh Tong’s application is approved. To this day, Malaysia is the first and only casino Genting Casino in the whole Malaysia. Although the gambling license is issued by Finance Ministry, Casino de Genting still has to renew every three month since the license grant in year 1969 to a state gambling license under Pahang Entertainment Enactment Art. Genting group in predominantly Muslim Malaysia government has a unique gaming licence by the Government. Because Malaysia’s Muslim population increased, the Government has given Casino licence restricting access to other companies, so that it can limit the operating company as a company is only one of Genting Berhad.
Genting Berhad, Malaysia’s leading corporation is the holding company of the Genting Group, one of Asia’s best-managed conglomerates. The Group comprises four listed entities (namely Genting Berhad and subsidiaries Genting Malaysia Berhad, Genting Plantations Berhad and Genting Singapore PLC), Total market capitalisation of approximately RM132 million (US $ 4.3 billion u.s. dollars). With more than 43,000 employees and 4,500 hectares of Prime resort town of about 13.3 hectares of plantation land, the Group’s major businesses include leisure and hotel, Genting Group on behalf of oil palm plantations, real estate development, biotechnology, oil and natural gas. Genting group has established a top leisure brand, such as the ‘Resorts World’, ‘motto’, ‘Crockfords’ and ‘Awana Genting Highlands. Resorts World Berhad Is a member of resorts world Genting group companies, it was called pioneer one of the leadership and management of transnational corporations in Asia. Meanwhile, resorts world multinational leisure and catering companies with strong capital and management experience, in one of the development and management of integrated entertainment resort. Vision for Genting Group is ‘to be leading leisure, hospitality and entertainment corporation in the world’, (Annual Report 2008). In addition, owned and operated the Awana Genting Highlands Resort world hotel chains, including beautifully designed hotel, such as in Malaysia such as Awana Genting Highlands Golf & Country Resort, Awana Kijal Golf, Beach & Spa Resort at Terengganu and Awana Porto Malai, Langkawi. Moreover, Resort World Berhad has its associated hotel, Genting Highlands Resort, which was voted the World Leading Casino Resort 2005 and Asia Leading Casino Resort 2005 & 2006 by World Travel Awards. There are no standard theme or design for Genting resort world Malaysia except a self-proclaimed City of Entertainment but due to its location at an altitude of 1800 m (5900 ft), temperatures in Genting are 5-10°C lower than in Kuala Lumpur, generally staying in the range of 15-25°C the natural chilling weather climate at Genting act as a bonus point for the organization.
Benefits of having an Integrated Resort
Main economic contribution of tourism in Malaysia-registered in 2007 high of 1.96 million passengers. Create ample job opportunities-more than 13,000 people, mainly Malaysian providing leisure-related work.(Tourism Malaysia)
As a testimony of its continual popularity, Resort World Genting was voted for the fifth time as the world’s leading casino resort and Asia’s leading casino resort, from world travel Awards-attraracting 19.9 million loacal and tourist visitors in 2010 (2009; 19.5 million). Hotel guest made up 27% of the visitors while 73% of visitors were day trippers. Singaporean continue to be the largest international group of visitors, at 6% of the total visitors (2009;6%). Singaporean were also the largest group of foreign hotel guest at the resort, at 21% (2009;22%). Other international visitors were mainly from Thailand, Indonesia, China, India, Vietnam,Taiwan, hong kong, and the middle east. For comparison, a total of 24.6million tourist visited Malaysia in 2010 (2009;23.6 million) based on Tourism Malaysia Statistic (Genting Annual Report).
According to genting Group annual report, Genting Malaysia has been mainly engaged in theme parks, games, hotels, beach resorts, and over 45 years of entertainment and hotel operations. Loyalty card schemes (‘Genting loop cards’ or ‘Genting World Card’) with over 3.3 million members, only its operations in Malaysia received the latest issue. In its crown jewels is the premier integrated family of resorts world Genting peak leisure and entertainment resort of Genting Highlands, attracted more than 190,000 passengers annually over the past 5 years.
Social Responsibility by Genting Berhad
In Malaysia, The group participate in ROTI Malaysia charity project. Resorts World Genting, and the volunteers from different companies and institutions, including employees from the Genting Berhad to help transport and distribute the donated bread, orphanages and more than 50, in Klang Valley to host a week of bread and other hotels and bakeries. Which doing it weekly.
Genting Berhad business affairs and financial reports are managed in accordance with the provisions and requirements of the regulatory body, such as Malaysia, Malaysia stock exchange listing requirements of the corporate governance code of ‘management of operational and financial reports, 1965 companies act and Malaysia accounting standards Board in Malaysia.
The Genting Malaysia Procurement locally produced food into lower transportation and packaging costs, lower fuel consumption and lower carbon dioxide emissions into the atmosphere. These cost effective measures to ensure the freshness and quality of foods also provide economic stability to local farming communities and vendors. Genting Malaysia Berhad is also engaged in the green seal authentication the service of company, establishes and implementation with the environment management system, to guarantee its service and the product of sell of the organization was defers to environmental quality law in 1974.
In terms of education and social responsibility, the Genting Group support various communities, higher learning institutions and universities in Malaysia. (Genting Group). In 2011, the Genting group, with great efforts, our President Tan Sri Lim Kok Thay , President and Chief Operating Officer of us Tan Kong Han, measures to establish the community chest. In particular, Genting Malaysia investment of RM250 million by Jana Pendidikan (m) Limited (‘JPM’) proceeds had used part of the funds acquired by Pan Malaysian Pools Sdn Bhd (‘PMP’) issue of securities. According to a declaration of trust, PMP all dividends received by the mogenfulinming settings, in addition to the loan amount was mortgaged for Morgan will be donated to the community chest. In addition, Genting has promised support services, does not charge any fees for PMP and lots of cloud top employees volunteer their time to support the routine daily operations, PMP, JPM and the community chest.
The community chest is an independent, not for profit charitable organization for the purposes of, set up the private sector, to promote and support education only in Malaysia the interest of the community. It is governed by a Board of directors chaired by dansililin Cathay Pacific. Community Chest formally launched on September 26, 2011, by the Prime Minister, YAB Dato ‘ Sri Mohd Najib Tun Abdul Razak . Community Chest contributions of RM26.1 million for the first time have been assigned to 61 vernacular and Malaysia’s Church school, with its launch
Two Tan Sri (Dr) Lim Goh Tong Endowment Fund, established in 2009, is the Malaysia University of Putra and University Malaya jointly funded scholarships, College of business and accountancy University, outstanding students, educational seminars, international student exchange programmes, educational travel overseas activities of student organizations.
Genting group supports University of Malaya, at leading research universities, and one of the oldest universities in Malaysia by Yayasan and dansililintang the forest Endowment Fund, contributions to RM700,000 and RM150,000 respectively to the repair and renovation of the old lecture halls at the University’s College of business and accounting. Renovated auditorium named Kuliah Lim Goh Tong in honor, founder of Genting, which can accommodate 600 people, equipped with modern facilities for teaching and learning, such as the SMART Podium interactive technology. Seminar entitled ‘Asia universe’ as a highlight of the new main sponsor of Genting Berhad business from the United Kingdom to January 26, 2011 opening made by the new Lord speaker Digby Jones.
This group supports Malaysia by Tan Sri Lim Goh Tong University Endowment Fund by four students with full scholarships, funded grow crops on joint research projects, and initiated participation in the pH and nitrogen-fixing in Australia’s Fremantle, in 2011 as facilitator at the 17th International Conference of the candidate.
From all these facts, it has a solid justification to shows that there is a lot of benefit of having an integrated resort at Malaysia of which it helps to improve the employment rate, in terms of technology and also helps in community. In conclusion, Genting Group Berhad has made a great contribution to Malaysia’s economic growth to attract tourists, significantly increased the number of visitors
In building an integrated resort, there are also many social responsibilities to be undertaken so as to show its commitment to the country’s economy, social welfare and job creation. The Genting Group had managed to have their footprint through the community works such as monetary donations and charity drives for the needy, education, arts and culture, and last but not least sports.
In return, the Group are also rightfully recognised for their efforts with awards such as,
The Edge Billion Ringgit Club 2012,
Genting Berhad – Company of the Year
Genting Berhad – Highest Profit Growth Company under Trading/Services, Hotels, IPC and Technology Sectors category
Genting Berhad – Highest Profit Growth Company under Big Cap Companies/Companies with More than RM10 Billion Market Capitalisation category
With such apparent efforts, the society can see that the Genting Group are earnestly paving their growth in integrated resort business with good business practices, ethical responsibility and operational excellence.
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