MOP 6.00 Closing editor: Luís Gonçalves Year III
Number 533 Wednesday May 7, 2014
Publisher: Paulo A. Azevedo
Inner Harbour on a shoestring
Dong Kin Cheong decides to build a 2-star guesthouse tower of up to 300 rooms in the Inner Harbour district to cater to budget travellers. 2017 is the opening target date, with an investment of up to 1.8 billion patacas, Chong Siu Kin, shareholder of the veteran developer, tells Business Daily Page
3
www.macaubusinessdaily.com
Interview
BNU eyes China after record year Having achieved the biggest profit in its history, BNU is launching a new three-year strategic plan to expand into mainland China. New products and services are on the way for clients in Macau, as well, CEO Pedro Cardoso tells Business Daily. Two new local branches are in the wings. Page
6&7
Space for everyone
Silence, please! Antonio Ng Kuok Cheong’s request for a public consultation on the oneoff compensation for MSAR’s outgoing principal officials is rejected. The bill awaits final approval within the short term Page
2
Sands China CEO Ed Tracy radiates confidence in a CNBC interview. There’s plenty of market left to absorb the capacity coming onstream in 2017 and 2018, he says
HSI - Movers May 6
Name
%Day
China Unicom Hong K
2.74
Kunlun Energy Co Lt
0.66
CITIC Pacific Ltd
0.44
Bank of China Ltd
0.29
China Construction
0.19
China Mengniu Dairy
-2.69
Wharf Holdings Ltd
-3.13
Golden Week a winner
China Merchants Ho
-3.50
Cheung Kong Holdin
-7.62
Hutchison Whampoa
-8.14
Investors expect Macau casinos to see gross gaming revenues climb at least 15 percent this month alone. Massmarket gains could top 30 percent due to the Golden Week effect.
Source: Bloomberg
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I SSN 2226-8294
Page 8
Cautious pace
Closed skies Taiwan’s Legislative Yuan has a long list of controversial issues to address. The open skies agreement signed by Macau and Taiwan in February may not take off any time soon. Page
4
According to a Reuters poll, China’s factory output and investment reaches a stable pace as the government uses targeted policy measures to underpin growth. Page 10
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