Macau Business Daily, Dec 2nd, 2014

Page 1

PAGES

2&3

MOP 6.00 Year III

Number 679 Tuesday December 2, 2014

Publisher: Paulo A. Azevedo

Closing editor: Joanne Kuai

Government announces new cabinet

N

o real surprises for the new line-up. All current secretaries as well as other top officials in the government were replaced by Chief Executive Chui Sai On. Lionel Leong Vai Tac is confirmed as Macau’s next Secretary for Economy and Finance. The new government will be sworn in on December 20. Sweeping changes but will new brooms sweep clean?

GGR in freefall Macau gaming revenues are in freefall. Gross gaming revenue plunged almost 20 percent y-o-y in November to MOP24.3 billion. Gamblers’ appetite for the Vegas of the East continues to wane. Breaking even with last year is the best scenario. But nobody’s betting the house on December improving

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Rollercoaster Here we go again. November manufacturing data returned China back to 8 months ago. The cooling process that China is undergoing continues to confuse analysts and officials. All eyes on PBOC in search of solutions

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8

Brought to you by

HSI - Movers December 1

Name

%Day

Cathay Pacific Airwa

3.40

Swire Pacific Ltd

-0.09

Tingyi Cayman Island

-0.22

Ping An Insurance Gr

-0.31

Sun Hung Kai Propert

-1.15

PetroChina Co Ltd

-4.40

China Resources Land

-4.80

China Life Insurance.

-4.82

CNOOC Ltd

-5.47

Kunlun Energy Co Ltd

-5.48

Source: Bloomberg

www.macaubusinessdaily.com

I SSN 2226-8294

Clarion call unheeded It’s pledged to do so many times. Diversify its investment portfolio. International institutions and luminaries have strongly advised it to do so. But the Monetary Authority of Macau is smitten with China. Nearly 50 per cent of all Macau’s investment is in Chinese financial products. Growing financial exposure to the Mainland may not be so wise

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Macau Pass to be purchased online through Alipay PAGE 5 Chow Tai Fook ready to invest in casino project in Vietnam PAGE 9

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