1 The Singapore Land Authority (SLA) has awarded Goldkist International (S) Pte Ltd tenancy of the 30-year-old East Coast Resort (ECR) commencing 1 March 2007. The tenancy is for an initial term of 3 years and is renewable up to 2015, subject to compliance with terms.

2 The 197-unit ECR is the largest State property for recreational use situated in the most popular park in Singapore. The previous tenant was Resort Concept Pte Ltd, whose lease expired in 2005. Goldkist has indicated that it intends to retain the ECR as a chalet resort. As a start, it will invest about $5 million to upgrade and create new facilities. Another possible change is in the name to "Island Park Resort" to reflect the integrated facilities to be unveiled. Goldkist International (S) Pte Ltd is a Singapore-based company with real estate assets of over $10 million in Sim Lim Square. Their main business involves the import, export & distribution of IT & communication products, with a sales turnover of over $40 million per annum.

3 SLA received 4 bids ranging from $103,300 to $324,444 per month. Goldkist, the highest bidder at $324,444, impressed SLA with their detailed study of the ECR and their elaborate plans to upgrade the resort. The approved uses for the chalet were chalet, sports and recreation centre, corporate retreat, campsite, adventure camp, martial arts/judo/fencing school, or beauty, health and fitness centre.

4 Goldkist International's decision to retain the ECR as a chalet resort and refresh this key attraction to complement the tranquil surroundings of East Coast Park, will help to preserve the social memory of this popular resort. Besides enhancements to its facade, the Group also plans to introduce new concepts to the Resort that will appeal to different public segments. These will include a new clubhouse, spa facilities, gaming arcades, and sports facilities, teambuilding activities, traditional Indian yoga amongst others. Furthermore, Goldkist will also explore overseas tie-ups to market the resort abroad. It expects expatriates and business travellers to be drawn to the scenic spot and stay at the resort as an ideal holiday getaway.

5 The SLA hopes that the award of the tender to Goldkist International will help draw old and new patrons to enjoy the vibrancy of the Park.

6 SLA's Director of Land Operations, Mr Simon Ong said: "Our marketing efforts of the resort paid off as it had evoked keen market interest to take over the property. We are pleased to have found an enterprising international company that is realising its venture into hospitality and resort for recreational lifestyle. Goldkist International's plans will inject new life into the resort and create a pleasant destination for the public to relax and enjoy."

7 Mr H.D. Gupta, Managing Director of Goldkist International said, "I visited the resort and found that that is a good location with the potential for development into an international tourist destination. We intend to make this resort a unique visiting experience for families that is fun, relaxing, and rejuvenating. It will also be poised to be a hosting venue for leadership training courses for the managers, inter alia attracting high-end domestic and international tourists, for short holiday getaways."

8 SLA will ensure availability of the resort until after the Chinese New Year holidays. The appointed agent of SLA, United PREMAS will continue to take bookings for the ECR till 25 February 2007. For bookings,, the public can call Tel: 6445 0267 or Email: eastcoast.resort@unitedpremas.com. Bookings can also be made at the resort's reception counter.

9 To find out more about the upcoming plans for the resort, please contact Mr H.D. Gupta at 63396535 or hp 91454455. For media enquiries, please contact Ms Susan Koh or Miss Low Chiew Leng from Corporate Communications, at Tel: 6323 8105 and 63234594 or hp: 98291906 and 98734103, respectively. E-mail: Susan_Koh@sla.gov.sg and Low_Chiew_Leng@sla.gov.sg.

Issued by:
Singapore Land Authority
15 January 2007

Annex A - Goldkist's concept plans
Annex B - Image: East Coast Resort

Glossary: Simon Ong, SLA Director of Land Operations

Background of the East Coast Resort

The ECR was formerly known as Costa Sands Resort (East Coast). It was returned to the State when its 30-year lease expired on 11 January 2006. The SLA decided to reopen its doors to the public on 19 January 2006 under a new name - East Coast Resort - and appointed United PREMAS as its managing agent to oversee the daily management and operation of the resort which consists of 197 chalets. For bookings up till 26 February 2007, the public can call Tel: 6445 0267 or Email: mailto:eastcoast.resort@unitedpremas.com.. Bookings can also be made at the resort's reception counter.

About SLA

Singapore Land Authority (SLA) is a statutory board with the Ministry of Law. Its mission is to optimise land resources for the economic and social development of Singapore. SLA is responsible for the direct management of some 14,000 hectares of State land and about 5,000 buildings. It is also in charge of land sales, leases, acquisitions and allocation, developing and marketing land-related information, and maintaining the national land information database through digitised land information services. SLA is also the national land registration authority for property transactions, and the issuance and guarantee of land titles in Singapore. It also manages and maintains the national land survey system, including the defining of boundaries or legal limits of properties based on a coordinated cadastre survey system. For more details, visit www.sla.gov.sg.