New resort launched

New resort launched

SINGAPORE (Reuter): Laguna Bintan, part of the 23,000-hectare
Bintan Beach International Resort in Indonesia, and jointly
developed by DBS Land and an Indonesian company, was launched on
Saturday, the companies said.

A joint press release by DBS Land and Indonesia's Tropical
Resorts Ltd (TRL) said the 423-hectare Laguna Bintan is an equal
joint venture project between TRL and DBS Land's wholly-owned
subsidiary Amethyst Holdings Pte Ltd.

TRL is a subsidiary of Wah Chang. The project will initially
involve a Singapore US$600 million investment in hotels, resort
condominiums and homes integrated with an 18-hole golf course.

The first phase covering some 220 hectares will be completed
by 1998. When fully developed, Laguna Bintan's resort
developments will contribute to the overall success of Bintan as
one of the more exciting island resort destinations in the
region, said DBS Land's Deputy Chairman and Chief Executive
Officer Han Cheng Fong.