MOP 6.00 Closing editor: Sara Farr Publisher: Paulo A. Azevedo Number 546 Monday May 26, 2014 Year III
Flashpoint
Over 10,000 people took to the streets yesterday in what was Macau’s biggest ever demonstration. The proposed bill detailing the welfare package for outgoing officials has enraged swathes of the population – and some legislators - who say terms are too generous. The bill has not been submitted for public consultation as is the case with most bills. Officials benefiting from the bill include the Chief Executive, the five secretaries, the Commissioner against Corruption, the Commissioner of Audit and the chief of the Unitary Police Service
www.macaubusinessdaily.com
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Dearly departed
LRT progressing Deputy director of Transportation Infrastructure Office Ho Cheong Kei says routing the metro along Avenida 24 de Junho – packed with casinos – should “pose more advantages” in terms of railway coverage and construction terms. Open bidding on earthworks could start this year
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Shun Tak’s Taipa Hills Memorial Garden columbarium and its funeral services operation have been sold for HK$627.1 million. The HK$16.7 million gain the group anticipates making will be used as ‘general working capital and to finance new investment opportunities’ Page 2
HSI - Movers May 23
Name
%Day
China Overseas Land
5.49
China Resources Ent
4.14
Gaming gangster sentenced to death
China Resources Lan
3.93
Wharf Holdings Ltd
2.62
Li & Fung Ltd
2.15
Tingyi Cayman Islan
-0.91
China Mobile Ltd
-0.96
A former mining mogul, linked by the Chinese media to money laundering in Macau via the territory’s casinos, has been sentenced to death. Liu Han, with 34 others, was found guilty of a raft of serious crimes by Hubei authorities. Liu and nine others face capital punishment on charges of murder and mafia-style crimes
China Unicom Hong K
-1.03
Tencent Holdings Ltd
-1.07
Bank of East Asia Lt
-1.38
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Remedial action
Source: Bloomberg
I SSN 2226-8294
Day trippers dominate
The pharmaceutical industry’s profit margins in China are sharply declining. The government is pushing lower prices, whilst combating endemic corruption surrounding the medical industry
There were 10 percent more visitors in April than in the same month last year. As many as 2.6 million people visited Macau last month, of which 54 percent were same-day visitors
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2014-5-26
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