Macau Business Daily, May 23, 2014

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MOP 6.00 Closing editor: Sara Farr Publisher: Paulo A. Azevedo Number 545 Friday May 23, 2014

Raining cheques

Year III

More people are benefiting from the government’s annual cash-handout scheme than there is total population in Macau. Some 607,500 people lived here in November, when the government announced its policy address, of which 137,838 are blue-card holders, thus no cash-handout. When announcing the scheme yesterday, however, the government managed to count 650,000 residents who would benefit this year Page

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Dollars and sense A subsidiary of Industrial and Commercial Bank of China Ltd and one of the joint sponsors and bookrunners in Powerlong’s listing have been wrapped over the knuckles. The SFC has fined them HK$12.5 million apiece for placement failings falling short of the Commission’s standards

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Fitch, the world’s third biggest rating agency, has decided to retain Macau’s AArating. This fourth highest level defines Macau as a high rate investment destination, just two notches behind the top-drawer AAA rating of economic powerhouses like the US and Germany Page 5

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HSI - Movers May 22

Name

%Day

Kunlun Energy C LTD

3.93

Li & Fung Ltd

2.96

Wharf Holdings Ltd

2.31

Ping An Insurance G

2.29

Galaxy Entertainm

2.04

China Resources Land

-0.67

CITIC Pacific Ltd

-0.74

China Petroleum & Ch

-0.98

Sino Land Co Ltd

-1.00

Hutchison Whampoa

-1.75

Source: Bloomberg

More than gaming Current negative market sentiment about stocks is “disconnected” from the solid fundamentals of the Macau gaming industry. Tim Craighead, senior gaming analyst at Bloomberg, tells Business Daily about the issues behind the issues Page 6

There’s gas China and Russia gas deal opens a wide range of possibilities for both countries. China will be able to get better prices in other markets, while Russia can reduce dependency on Europe Pages 8 & 9

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Carbon footprint fading Macau International Airport has been awarded Airport Carbon Accreditation at level 2 reduction. Only seven airports in Asia Pacific are carbon accredited, three in Australia. It’s all part of MIA’s five-year environmental plan Page 2

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