SEA Games to come in on budget

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 organising committee for the June 5-16 biennial Games, told reporters on Thursday that costs would stay within S$324.5 million (US$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.