Macau business daily, Feb 20, 2014

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MOP 6.00 Closing Editor: Michael Grimes

Telcos off the hook for latest disruption

Publisher: Paulo A. Azevedo

Tam passes up chance to kill concession rumours

business daily 1

staff special bonus

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Families, businesses using more energy Page 6

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rancis Tam Pak Yuen – one of Macau’s most senior officials – passed up the chance yesterday to kill off a story in the Hong Kong media suggesting Macau’s next round of casino concessions could be for much shorter periods. The Chinese-language Hong Kong Economic Journal – previously a well-informed source for news from mainland official sources – reported that when the current casino concessions come up for renewal in 2020 and 2022, there would be no repeat of the 20-year deals agreed last time. Indeed it went as far as saying the renewals could be for as little as five years. Asked yesterday by Business Daily whether the licence renewal period could be as short as five years, Mr Tam replied: “…this review [in 2015 or 2016] is still open for suggestions.”

Year II

Number 480 Thursday February 20, 2014

MGM Macau gives Friday April 19, 2013

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Assembly pledges tighter control of big projects

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www.macaubusinessdaily.com

Legislative Assembly committee overseeing government spending will increase its supervision and focus on big-budget infrastructure projects. The pledge was made by the chairman of the special finance committee, Mak Soi Kun, after a closed-door meeting yesterday. Mr Mak said he would “ask for the government’s explanations… on projects that the public does not have a clear grasp [of] or that are alleged abuses of public money”. The committee would compile a list of projects for the government’s clarification. The list would be ready by next week, he said. “All projects that are of public concern”, including the budget for the Light Rapid Transit railway network, would be tabled for the government to provide more details, he said. Page

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Banks are ahead of Basel

Lisboa Palace – a preview

Half homes in 2013 cost MOP4 mln+

Capital adequacy ratios at Macau’s banks exceed Basel III standards, and the banks have maintained quality assets and sound liquidity, the Monetary Authority of Macau says. Mr Wan Sin Long, a member of the monetary authority’s board of directors, said the banks’ nonperforming loan ratio stood at 0.09 percent at the end of last year. Their capital adequacy ratio was 14.8 percent and the average “core” capital adequacy ratio stood at 11.2 percent.

Business Daily has gained exclusive access to renderings showing how the suites in SJM Holdings Ltd’s new selfbranded hotel on Cotai will look. SJM announced last week that Lisboa Palace would be the overall brand identity for its entry into the Cotai resort market. It makes use of the strong recognition among Chinese consumers for its existing Macau peninsula properties – Hotel Lisboa and the Grand Lisboa.

More than half of all the homes sold in Macau last year cost at least 4 million patacas (US$500,000), official figures indicate. Estate agents say they now regard 4 million patacas as the minimum price of entry into the housing market. They also predict that unfinished flats will make up only 10 percent of homes sold this year, having made up over 30 percent last year.

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Brought to you by

Hang Seng Index 22675

22650

22625

22600

22575

22550

February 19

HSI - Movers Name

%Day

BANK OF EAST ASIA LTD

4.78

CITIC PACIFIC

2.51

BOC HONG KONG HO

1.88

HSBC HLDGS PLC

1.80

BELLE INTERNATIO

1.79

CNOOC LTD

-1.25

CATHAY PAC AIR

-1.82

GALAXY ENTERTAIN

-1.92

SWIRE PACIFIC-A

-2.09

CHINA RES POWER

-2.57

Source: Bloomberg

I SSN 2226-8294

Brought to you by

2014-2-20

2014-2-21

2014-2-22

7˚ 13˚

10˚ 16˚

13˚ 18˚


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Macau business daily, Feb 20, 2014 by Business Daily - Issuu