The parent company of MBS expects it could potentially reap US$3 billion to US$3.5 billion from the sale of a 49 per cent stake in the integrated resort’s shopping mall. “That could make it the most expensive mall ever sold in the world,” its management said in a conference call following the release of its financial results. The company is restricted from divesting any part of the mall until a moratorium linked to the casino development licence expires in Mar 2017. However, any sale will still require approval from the Singapore Government. Occupancy for MBS’ hotel rooms was flat at 96.7 per cent during the quarter, while the average daily rate rose nearly eight per cent to S$423. As a result, revenue per available room (revPAR) was also up nearly eight per cent to S$409.... Continue Reading