Singapore to Halt Horse Racing in Favour of Urban Development - CEO Morning Brief | I3investor

Sign In

CEO Morning Brief

Blog Headlines (by Date) Blog Index

Singapore to Halt Horse Racing in Favour of Urban Development

(June 5): Singapore will host its last horse race next year as the government reclaims land for urban development, bringing an end to a sports club that traces its history back to 1842.

The last race meeting at the Singapore Turf Club will take place in October 2024, and the facility will close by March 2027, the Ministry of Finance and the Ministry of National Development said in a joint statement on Monday (June 5). About 120 hectares of land will be redeveloped to meet the country’s future needs for housing, and potentially include venues for leisure and recreation.

Declining in-person attendance over the past decade contributed to the decision, the Turf Club said in a statement on its website.

“Horse racing has a long and distinguished history in Singapore,” the club said. Races will continue until the 100th Grand Singapore Gold Cup on Oct 5, 2024. Racehorse owners and trainers will be offered support for “horse maintenance and exportation”, it said. Employees will receive support during the transition with a retrenchment package, personal career guidance, skills-training courses and counselling.

Source: TheEdge - 7 Jun 2023

Share this
  Be the first to like this.

172  268  226  714 

Top 10 Active Counters
 Seatrium 0.126-0.004 
 HSI 19000MBeC.. 0.039-0.006 
 ThaiBev 0.55-0.015 
 Genting Sing 0.825-0.01 
 Biolidics 0.015+0.002 
 Singtel 2.35-0.08 
 YZJ Shipbldg SGD 1.57-0.05 
 Jasper Inv^ 0.002+0.001 
 MarcoPolo Marine 0.05-0.001 
 CapLand IntCom T 1.78-0.05 


1. REIT Watch - Positive Rent Reversions Recorded Across Singapore Office Market SGX Market Updates
2. OCBC, CapitaLand Investment, UOBKH Lead Buyback Tally SGX Market Updates
3. Cashless Payment Methods in Singapore: Benefits and Understanding for the Elderly Collin Seow Remisier Blog
4. Mastering Budgeting Skills: A Guide for Young Adults to Budget Monthly Salary in Singapore Collin Seow Remisier Blog
5. The Week Ahead Oct 2023 - [STI, HSI, NASDAQ & S&P] Singapore Humble Stock