Macau Business Daily, Mar 13, 2014

Page 1

Year II

Number 495 Thursday March 13 2014

Publisher: Paulo A. Azevedo

MOP 6.00

business daily 1

Friday April 19, 2013

Illegal transactions flood city M

acau’s most open secret – the laundering of money via a warren of retail stores - has been publicly exposed by a special Reuter’s report. The findings zero in on the use of UnionPay transaction payments to wash what one expert estimates to be billions of US dollars. The Shanghai-based credit card company, which now posts global transactions second only to Visa, claims

that the illicit transfers are hampered by jurisdiction considerations. The Macau Monetary Authority responded that the bank card-related business is subject to stringent supervision. Pages 8 & 9

Fund seeks compensation

www.macaubusinessdaily.com

Land deal raises questions

Private equity fund MKW Capital Management LP is seeking US$200 million from the Macau Government in a claim it says will wipe the slate clean on the closure of Viva Macau in 2010.

T

he government’s announcement that it may buy or rent mainland territory, on Macau’s doorstep, to facilitate the diversification of its industries has generally been met with enthusiasm by prominent businessmen and entrepreneurs in the territory. A high ranking mainland official says it is vital for the long-term prosperity of the SAR. While feedback has been positive, interested parties indicate that the devil is in the detail and that the government must spell out what is on offer and on what terms. Page

5

Who wants to be a millionaire?

Expats drive luxury rentals

The results of a survey commissioned by a local bank finds that one in ten Macau residents is a paper millionaire and that this wealth is not only liquid but has largely been accumulated by saving rather than investment. Researchers point to a conservative streak in the population. The gaming and tourism industries boast a quarter of these millionaires.

Human resource management consulting firm ECA International’s Accommodation Survey 2013/14 has lifted the lid on expat rental trends across 21 major cities in Asia. Although Macau was not included collected price data indicates that the city’s high end rentals would put it in 7th position in the property stakes.

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Brought to you by

HSI - Movers March 12

Name

%Day

Want Want China H

2.11

Kunlun Energy Co

0.73

China Resources En

0.50

MTR Corp Ltd

0.18

New World Devel

0.00

Lenovo Group Ltd

-1.75

Tingyi Cayman

-1.83

Hang Lung Prop

-2.15

Tencent Holdings

-2.51

China Shenhua En

-2.72

Source: Bloomberg

I SSN 2226-8294

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Brought to you by

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Macau Business Daily, Mar 13, 2014 by Business Daily - Issuu