MOP 6.00 Closing editor: Sara Farr Publisher: Paulo A. Azevedo Number 662 Friday November 7, 2014
Macau pension above world average
O
Year III
ur elderly are doing O.K. The Social Security Fund released an actuarial report on advancepension payouts yesterday. Prompted by resident grumbling, good news has emerged. The report indicates that the amount of advance-pension paid out in Macau is actually more than that of 11 other countries and cities. Higher than Japan, the U.S. and Canada. Only three of the surveyed jurisdictions pay advance pensions. Currently, the pension can reach 3,180 patacas each month PAGE
3
Cash is king There’s a cold wind blowing. Some engaged in the VIP gaming business have begun disposing of luxury flats. Prices have been discounted at about 10 percent. The gaming industry slowdown has not overtly impacted the local property market, agents say
Page 5
Chow Tai Fook now Greenheart majority shareholder Page 2
Shrinking VIP segment drags down Iao Kun Page 2
HSI - Movers
Building by numbers
November 6
Name
Massive numbers. Massive projects. Massive expectations. ‘Cotai 2.0’ has all the makings. Union Gaming says the largest 10 projects are on schedule. While some could miss topping off by a quarter or two. The total investment represents half of Macau’s GDP
www.macaubusinessdaily.com
Page 6 & 7
A matter of trust
Page 8
China Mobile Ltd
1.41
China Unicom Hong Ko
1.24
CNOOC Ltd
0.86
Want Want China Hol
0.78
AIA Group Ltd
0.58
Hang Lung Properties
-1.71
Li & Fung Ltd
-2.06
Galaxy Entertainment
-3.24
Sands China Ltd
-4.64
Lenovo Group Ltd
-5.11
Source: Bloomberg
Global recipe
The Asian Infrastructure Investment Bank. Created with little fanfare, and a lack of big names. Australia, however, has announced it is interested in joining the institution. If trust in its structure and function can be shored up, that is
%Day
Red Bull gives you wings. So says the energy drink slogan. The Austrian company is happy enough with local can sales. And prospects are good. But it wants to spread those wings into the world of sport and entertainment here. Just like it does all around the world
Page 4
I SSN 2226-8294
Brought to you by
2014-11-7
2014-11-8
2014-11-9
21˚ 24˚
21˚ 24˚
19˚ 23˚