08 Sep '11, 10pm

SG Changi hope for a lifeline for motorsports hub

SINGAPORE: In a last-minute scramble, SG Changi - the consortium contracted to build the Changi Motorsports Hub - submitted the names of two new investors and a revised timeline to the Singapore Sports Council (SSC) on Thursday. While the original contract stipulated the facility would have to be operationally-ready by the end of this year, the new schedule will see 80 per cent of the project completed by next June. At press time on Thursday night, an SG Changi insider said company directors Fuminori Murahashi and Moto Sakuma were still in the midst of finalising deals with the new investors. The consortium rushed to meet the deadline to answer a show-cause letter issued by the SSC a fortnight ago, after work on Singapore's first permanent race track stalled. Construction ground to a halt in January when contractors CSC Holdings failed to receive an advance payment of S$10...

Full article: http://www.channelnewsasia.com/stories/singaporelocalnews...

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