In December 2006, Sinchong Property Investment Pte Ltd (SPIPL), Singapore's property investment company, has signed a letter of intent to take the partially completed hotel project from the administration of the city of Wuxi to the amount of RMB45 million. Original development of the property for the 22-storey three-star hotel building with 220 rooms and four-story buildings employees. The concrete structure is built, but due to financial difficulties, the Chinese owner had to abandon the project. During the 60 days prior to signing a definitive agreement to take over the project, SPIPL seeks to ensure that the project was feasible and that the new hotel, its first project in China, will succeed. During this period, Liang Chi-Xian, CEO SPIPL should evaluate business challenges of development and operation of new Hotel Wuxi International. "Hide
by Chun Leong Chan Source: CCP in Nanyang Tech University 17 pages. Publication Date: August 30, 2007. Prod. #: NTU005-PDF-ENG
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