MOP 6.00 Closing editor: Alex Lee Publisher: Paulo A. Azevedo Number 570 Friday June 27, 2014
20,000 in one year
M
Year III
acau has employed 50 per cent more construction workers in the space of a year. The sector is close to being the third largest employed group in the SAR. Driven largely by the relentless construction of casino resorts in Cotai. If the sector hits 50,000 come the Summer, it will put wholesale and retail sector numbers in the shade PAGE 2
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U.S. authorities visit Macau to check money flows from gambling
The Monetary Authority of Macau says it is investing wisely. And cites a more diversified investment portfolio for the city’s fiscal reserves. Legislators, however, are not happy with last year’s 3 percent return. They advocate bolder, riskier investment approaches. In April, the fiscal reserve investment sustained a 1.6 billion-pataca loss
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Casinos push HK stocks to biggest advance in six weeks PAGE 7
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Full steam ahead José Morgado, president of Banco Espírito Santo do Oriente (BESOR) has set his course. He told Business Daily that expansion plans here will not be affected by structural changes in Portuguese parent group BES. More affluent clients, new hirings and diversified products are on the BESOR agenda
HSI - Movers June 26
Name
Macau boosts Luk Fook Luk Fook jeweller posted a 43 percent increase in revenues in the financial year ended in March. Macau stores amassed HK$2.9 billion in sales, representing15 percent of the total PAGE 2
Gold bugs
Konnichiwa, says Caesars
Around US$15.2 billion in loans have been backed by falsified gold transactions. China’s chief auditor disclosed yesterday what has been long suspected. Fraudsters used the difference between national rates and yuan appreciation to run a scam raking in hundreds of millions.
Caesars Entertainment is the largest casino operator in the U.S. And expects to spend at least $5 billion in Japan once the country opens up its gaming market. The Land of the Rising Sun is projected to be Asia’s second-largest casino market; but there will be plenty of home-grown competition
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%Day
Want Want China H
5.34
Sands China Ltd
4.00
Galaxy Entertainmen
3.66
China Mengniu Dairy
3.32
Sino Land Co Ltd
3.07
Bank of East Asia Lt
0.47
Henderson Land DeV
0.33
China Overseas Land
0.21
HSBC Holdings PLC
0.06
Lenovo Group Ltd
-0.96
Source: Bloomberg
I SSN 2226-8294
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