MOP 6.00 Closing editor: Luís Gonçalves Publisher: Paulo A. Azevedo Number 665 Wednesday November 12, 2014
Candy Factory A
Year III
‘so-so’ performance. That was CE Chui Sai On’s self-evaluation while delivering his 2015 budget plan to the Legislative Assembly yesterday. Bur ‘candy distribution’ is here to stay. Even if gaming revenues are becalmed. Plus salary increases above inflation for public servants. Subsidies for the elderly. And billions for the Social Security fund. He remains tightlipped on the cabinet reshuffle. But expects gaming operators to come to the table on the World Tourism & Leisure Centre dream PAGE
Costs slow down Future Bright’s 3Q
HSI - Movers November 11
PAGE 4
Name
Macau hosts high‑level meeting on Chinese Medicine PAGE 4
Shopping Festival to diversify local economy PAGE 5
Vegas Club to save Caesars
%Day
Lenovo Group Ltd
3.23
Bank of China Ltd
2.98
Cathay Pacific Airwa
2.57
Galaxy Entertainment
2.55
Sands China Ltd
2.44
COSCO Pacific Ltd
-1.50
China Mobile Ltd
-1.87
PetroChina Co Ltd
-2.17
China Unicom Hong Ko
-2.79
Kunlun Energy Co Ltd
-3.31
Source: Bloomberg
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Two sides of the coin Two sides of the same crisis. In Q3, Galaxy and SJM had opposite performances. The former saw revenues increase 6 percent and profits 1 percent from a year ago. Galaxy says it’s still “very optimistic” about Macau’s gaming industry future. SJM, by contrast, reported a 16 percent decline in profits. A decrease some two times bigger than market expectations. Investors are reacting accordingly
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www.macaubusinessdaily.com
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Mapping out the future APEC continues to intrigue. Chinese President Xi Jinping found support for a roadmap. For the Free Trade Area of the Asia Pacific deal. Other Chinese projects have seen substantial progress
Pages 13 & 24
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MICE’s growing dependency MICE. They’re everywhere. Or could be. Millions of patacas are flowing into this sector nowadays. In fact, public money is picking up a third of total exhibition costs. Twice the 2013 hit. The government is now allocating another MOP5 million. To subsidise education institutions and companies for MICE-related programmes for staff
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