Macau Business Daily, Sept 22, 2014

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MOP 6.00 Closing editor: Luis Gonçålves Publisher: Paulo A. Azevedo Number 630 Monday September 22, 2014 Year III

False start

A

llergies, heavy dust, fallen trees, little food and damaged toilets. It’s not yet been a month. But cracks are appearing in the publicity campaign façade. The brand new MOP10 billion campus of the University of Macau in Hengqin is scoring low marks with students. Complaints range from poor construction to hygiene to security issues. Students told Business Daily that the move was too soon. Macau’s higher education poster child needs a makeover, they say

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Fast lane Good news for Macau drivers. Insurance industry representatives from Macau and Guangdong inked an agreement on Friday. Owners of vehicles with Macau registration plates can purchase a single cross-border motor insurance policy. Either in Macau or in Hengqin Island. The parties just await approval on the new driving policy

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Hard Landing

Steve Wynn arrives in Macau tomorrow

More rain on Macau’s parade. Deutsche Bank says gaming revenues in Q4 will drop 15 percent. Or three times more than the summer average. The VIP segment is likely to fall 30 percent. While October is set to be the year’s worst month, with revenues tanking some 20 percent

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HSI - Movers September 19

Name

Chui Sai On was in Beijing this weekend. He was officially appointed 4th Chief Executive of Macau. He said he expects China’s government to give the green light on a 24h border crossing. The Gongbei crossing is most likely, hopefully in December

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More workers needed

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Open Sesame! Friday’s IPO made Jack Ma the richest man in China. Although Li Ka-shing hangs on to his Asian crown. Alibaba became the most successful IPO on the NYSE, propelling it to a privileged place among IT rivals

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Crowne Plaza to recruit 215 workers PAGE 4

24h border crossing in December?

Lack of local resources is in the news again. This time, Air Macau’s chairman made a pointed reference to the issue. He cites it as one of the major new challenges facing the company. And an obstacle to more solid growth in the years ahead for Macau’s flagship carrier

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%Day

Sands China Ltd

3.60

Galaxy Entertainmen

3.01

AIA Group Ltd

2.40

Tencent Holdings Ltd

1.87

China Mobile Ltd

1.80

Hengan Internationa

-1.67

China Resources Pow

-1.72

Tingyi Cayman Island

-1.84

China Unicom Hong K

-1.86

China Mengniu Dairy

-1.96

Source: Bloomberg

Interview

Florence Lam, Director of Iao Hin Gallery: Still no art market in Macau Iao Hin Gallery is currently nurturing Macau’s art market. Director Florence Lam says this means developing its commercial aspects, too. Despite the support of the government, the market is in its infancy. She says there’s a chasm separating the number of exhibitions and potential buyers. It’s all about word of mouth, she tells Business Daily; that, plus education and throwing in a few surprises

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I SSN 2226-8294

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Macau Business Daily, Sept 22, 2014 by Business Daily - Issuu