Macau Business Daily, Aug 28, 2014

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MOP 6.00 Closing editor: Sara Farr Publisher: Paulo A. Azevedo Number 614 Thursday August 28, 2014

Exit Mechanism

A

Year III

n ‘exit mechanism’ is in the works. And the target is imported labour. Electoral members are pushing Chief Executive candidate Fernando Chui Sai On to ‘safeguard’ locals’ jobs. Construction workers would be most vulnerable to the exit mechanism. Although Chui says the axe would only swing in times of crisis. Meanwhile, analysts warn that between 2015 and 2017 Macau will need up to 55,000 additional workers

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Profits in freefall

HSI - Movers

More passengers flew with Air Macau in the period. But the local flagship carrier’s profits plummeted 74 percent in the first six months of the year to 27 million patacas. Air Macau operates more than 20 routes. Mostly between here and major cities in mainland China. The airline operates 15 aircraft, with an average age of 11.39 years

Name

3

August 27

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%Day

Henderson Land Deve

4.09

China Mengniu Dairy

2.01

China Mobile Ltd

1.28

China Resources Ente

1.19

China Shenhua Energ

0.90

CNOOC Ltd

-1.56

MTR Corp Ltd

-1.90

China Overseas Land

-1.96

Hong Kong & China G

-2.08

Want Want China Ho

-2.12

Source: Bloomberg

I SSN 2226-8294

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Melco Crown profits up

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Profits were up 4 percent to 20 billion patacas in the second quarter of the year. Melco Crown has also announced its revised budget for Studio City. Some US$2.3 billion will now be injected into the Cotai project

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HK stocks drop as casino shares decline

Work for all

Au revoir 2015?

Just about everyone’s in work. In the May-July 2013 period, Macau’s unemployment rate was 1.9 percent. It’s since stablised at 1.7 percent. At the end of July, the ‘recreational, culture and gaming’ industry accounted for 23.2 percent of the workforce. Hospitality and construction soaked up about 14 percent each

Las Vegas Sands Corp has secured the necessary government approvals. It will resume work on Parisian Macao sooner than expected. Originally slated to open in late 2015, the company is being coy about whether the stoppage will affect the launch date

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China further loosens foreign ownership of hospitals Page 10


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