Global Spectrum Pico To Remain On Singapore Sports Hub Consortium

Global Spectrum Pico, one of the Sports Hub Pte Ltd.'s four founding partners, "will remain with the consortium after all -- despite much speculation it was going to be removed," according to Chua Siang Yee of the STRAITS TIMES. Media reports said that SHPL "had intended to terminate" the Venue Operation Contract with GSP. A joint press statement issued by both parties on Saturday "denied termination of the VOC was ever discussed." However, on Thursday, SHPL had declined to "deny or confirm if GSP was about to be terminated as venue operators." Speculation had "been rife this week about GSP's removal following an audit conducted by KPMG." The audit, which looked at the last 18 months of operations, "is believed to have found that there was a lack of alignment of interest between GSP, the shareholders and government stakeholders" (STRAITS TIMES, 2/20).