MOP 6.00 Closing editor: Luis Gonçalves Year III
Number 623 Thursday September 11, 2014
Publisher: Paulo A. Azevedo
Macau’s MICE market marginalised
I
t’s more a trend than an isolated case. Despite government efforts to diversify Macau’s economy the MICE sector suffered another blow yesterday. IFX Expo Asia, a big retail finance event, moves to Hong Kong next year, following two editions in Macau. The reason? Organisers believe HK’s accessibility and financial street cred will mean more attendees and greater exposure. MICE events in Macau have dropped by a third since 2010 PAGE
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www.macaubusinessdaily.com
Alibaba’s bankers Jack Ma and his colleagues have designed an IPO plan. It splits responsibilities and tasks between several banks. The idea is that it will force them to collaborate. While Alibaba gets better financing Page
HSI - Movers
‘Rocky’ IV
September 10
Name
Luck be a lady tonight. But not in September. Macau’s gaming revenue will likely decrease for the fourth straight month, pundits predict. The drop is estimated at about 10 percent this time. The ‘rocky summer’ scenario punished gaming stocks yesterday. Putting HK Stock Exchange on the ropes with its biggest fall in seven months PAGE
10
5
%Day
BOC Hong Kong Holdi
0.00
Cathay Pacific Airwa
0.00
Hang Seng Bank Ltd
-0.23
CITIC Ltd
-0.27
Power Assets Holdin
-0.28
China Unicom Hong K
-3.31
CNOOC Ltd
-3.34
PetroChina Co Ltd
-3.49
Sino Land Co Ltd
-3.88
China Resources Lan
-4.79
Source: Bloomberg
Pouring oil on troubled waters The ‘gutter oil’ scandal is serious and farreaching. Local food products importer Tai Heng Foods, however, believes the jury’s still out on long-term Taiwanese partner Chang Guann. The renowned food oil manufacturer is facing lawsuits at home. And Taiwanese store shelves have been cleared of its products by authorities. Chemical tests are inconclusive; but authorities say the lard oil used ‘unqualified’ ingredients PAGE 2
Exports to HK and Mainland set to rise
MPO gets an extra US$33 million
The omens look promising. Macau’s export companies believe Hong Kong and Mainland China of f e r t he be st prospe c t s f or business in the coming months. A new survey puts everything into perspective
Macau Property Opportunities, an investment fund run by Sniper Capital, has just wrapped up a series of debt negotiations with banks and cashed US$33 million
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