May 15, 2015 / 5:34 AM / 4 years ago

SEA Games to come in on budget, say Singapore

SINGAPORE (Reuters) - Singapore, still stung by the vast overspend of hosting the inaugural Youth Olympics in 2010, are confident next month’s Southeast Asian Games will come in on budget after a boost in sponsorship.

Toh Boon Yi, part of the local organizing committee for the June 5-16 biennial Games, told reporters on Thursday that costs would stay within S$324.5 million ($245.52 million) after initial sponsorship targets of S$50 million had been exceeded.

“Thankfully, we’re now in a slightly more comfortable position because of the sponsorship amount we’ve raised,” Toh said after another partner came on board to boost sponsor income past S$70 million.

“As in all projects, it’s important to have good financial discipline and framework, and we’ve applied all these to the running of the SEA Games.”

Singapore spent close to S$400 million on the first Youth Olympics in 2010, more than three times initial budget figures, drawing some locals to label the event a waste of money.

Writing by Patrick Johnston in Singapore; Editing by John O'Brien

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below