MOP 6.00 Closing editor: Sara Farr Number 579 Thursday July 10, 2014
Publisher: Paulo A. Azevedo
Shop rents to plunge with visa restrictions
R
Year III
eal estate prices will continue rising. But selectively. Ricacorp says residential, industrial and commercial buildings will add 10 percent in the second half of 2014. Shop rents, however, will go south. They are predicted to take the rap for the new visa restrictions on transiting mainlanders. Rents will decrease in the single digit range with transactions set to drop up to 8 percent Page
www.macaubusinessdaily.com
Shine comes off gold
Trade with mainland down 11pct in the first five months of the year Page 2
It’s not just the gaming revenues. Between April and June, Chow Tai Fook’s SAR sales fell 50 percent short of a year ago. The world’s largest jewellery retailer says this reflects coming off the ‘gold rush’ base when prices plunged in 2013 PAGE 3
Build and they will come
Fragrant Prosperity listed in 2016 Fragrant Prosperity is seeking funding. The UK-listed Malaysian gaming firm is considering multiple listings. Hong Kong and Australia are in its sights to fund its Asian gaming business. From Macau to South Korea to Mongolia PAGE 3
Blue skies ahead
2
Packer’s Sydney casino closer to final approval Page 6
HSI - Movers July 9
Name
%Day
Belle International
0.34
China Mengniu Dairy
0.28
Support from an unlikely quarter. A U.S. researcher from the University of Nevada Las Vegas tells Macau to go for it. David Schwartz is confident that the Macau gaming industry won’t fall into the over-capacity trap. The industry here is becoming increasingly sophisticated, he says. And just look at that pent-up demand over the border
COSCO Pacific Ltd
0.18
Kunlun Energy Co Ltd
0.17
China Shenhua Ener
0.00
Bank of China Ltd
-2.79
China Resources PoW
-2.84
PAGE 7
Sands China Ltd
-2.88
Tencent Holdings Ltd
-3.27
Sino Land Co Ltd
-4.15
Source: Bloomberg
Taiwan carrier TransAsia Airways anticipates better profits this year. Higher fares and improved passenger load are the major factors. Much rests on its international routes, in particular the Japan-Macau run
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Tiger talks
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China and the U.S. say they’re committed. They want to work hand in hand to improve bonds linking the two main world economies. It’s all being thrashed out at the yearly meeting being held in Beijing. Page 10
2014-7-09
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2014-7-10
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2014-7-11
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