MOP 6.00 Closing editor: Sara Farr Publisher: Paulo A. Azevedo Number 618 Wednesday September 3, 2014
Convicted billionaire businessman revisits La Scala H
Year III
e appealed a 5-year, 3-month prison term handed down by the Macau courts. But Hong Kong billionaire Joseph Lau Luen Hung is not sitting still. He plans to purchase four subsidiaries that own a number of properties in Macau and Hong Kong. One of which is the La Scala project at the heart of his bribery trial. The sale of the subsidiaries by Chinese Estates Holdings Ltd could raise up to HK$16.3 billion PAGE
Elegant entrée
HSI - Movers September 2
Name
www.macaubusinessdaily.com
It’s the first in Asia. A hotel operated jointly by Shun Tak and Artyzen Hospitality Group. It’ll open in Taipei’s retail and entertainment hub, and feature 260 rooms. Artyzen’s president expands on positioning, partnership and profile to Business Daily
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2
%Day
China Unicom HK
4.12
Belle International
3.00
Sino Land Co Ltd
2.20
China Mobile Ltd
2.14
Hong Kong & China G
1.93
China Petroleum & Ch
-0.89
Lenovo Group Ltd
-0.98
China Mengniu Dairy
-1.11
MTR Corp Ltd
-1.12
CNOOC Ltd
-1.15
Source: Bloomberg
4&5 I SSN 2226-8294
Smoke and mirrors
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Her name’s Cloee Chao. She’s 34 years old, a single mother and a casino worker. She’s also helped shake up the complacency of the city’s billionaire casino bosses. In 2012, she started a union as a result of deteriorating health issues caused by passive smoking in the workplace. She now has other issues to debate with Macau’s gaming moguls Page 7
Realpolitik prevails
Housing to cool
Russia is turning to China. In order to spur its economy as relations sour with the West over Ukraine. But it’s China’s biggest energy companies that stand to benefit. Putin offers to sell a stake in his country’s secondbiggest oil project Page 11
What goes up must come down. So says local architect and Executive Council member Eddie Wong. The housing market will cool, he tells Business Daily. But it will take several external factors. An increase in the supply of housing and the continued deceleration of the gaming industry are prerequisites. And the government may have to revisit the kind of housing that finds its way to market
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