MOP 6.00 Publisher: Paulo A. Azevedo Number 514 Wednesday April 9, 2014 Year III
More to their credit
China Construction Bank Corp will convert its lender incorporated in Macau into a local branch in June. A move that will release the unit from credit restrictions, and enable the Beijing-based institution to extend much more credit. Other big four state-owned banks in the mainland have previously ploughed this path. Page
Employment confidence good, home purchase not so
www.macaubusinessdaily.com
No hurry to ban A complete casino smoking ban is still on the table but there’s no need to rush, says the government. Legislators debated the hot topic yesterday to kind of agree that sometimes slower is better. Page 3
On tenterhooks
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Public feedback is slowing down construction projects Page 7
Predicting local gaming results is becoming a weekly pastime. The first days of April did not put a smile on analysts’ faces, with revenues dropping 21 percent from March. Gaming stocks felt the pinch.
Count us in
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HSI - Movers April 8
Name
Big names in the multibillion dollar pachinko industry in Japan do not intend to wait for foreign gaming companies to dominate the very appealing casino business in the country. Pachinko hall operator Dynam Japan Holdings is ahead of the curve and already holding talks with possible Asian partners. SJM, Melco Crown Ent. and Galaxy Entertainment are in the frame. Page
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%Day
China Resources Po
5.10
China Resources Lan
4.61
Cathay Pacific Airwa
4.40
CNOOC Ltd
2.95
China Overseas Lan
2.89
Hutchison Whampo
-1.24
China Resources Ent
-1.36
Galaxy Entertainme
-1.55
Sands China Ltd
-2.24
Kunlun Energy Co Lt
-3.35
Source: Bloomberg
Net result
I SSN 2226-8294
Macau Legend Development Ltd has secured a HK$ 4.2 billion syndicated loan and powers on with the HK$6 billion revamp of Macau Fisherman’s Wharf. Following the refurbishment, which includes three more hotels and gaming tables, businessman David Chow Kam Fai anticipates creating 5,000 new jobs. Page
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