Macau Business Daily, Dec 10, 2014

Page 1

MOP 6.00 Closing editor: Luis Gonçalves Number 685 Wednesday December 10, 2014

Publisher: Paulo A. Azevedo

Social benefits likely reduced in 2016

A

Year III

ll the eggs have been in one basket. With the vast majority of direct taxes being stumped up by the casinos. The city’s expenses on social benefits largely rely on gaming tax revenue. The flat 2014 growth predicted by the gov’t will not affect the status quo next year. But 2016 could be another matter entirely. Chan Chak Mo, head of the Legislative Assembly’s second permanent committee, says zero growth next year could have far-reaching consequences PAGE

Sorte Estrela eyes a Macau casino

2

HSI - Movers December 9

Name

%Day

Cathay Pacific Airwa

1.74

Junket operators are having a tough time. But Sorte Estrela is not fazed. Having opened its first VIP room in Macau yesterday, it’s set its sights on the main prize. From 10 VIP tables in Altira. To two more high roller rooms in Macau by 2017. To opening a casino within five years. Executive Director Fabian Fong tells Business Daily that by preference it will build in Macau. If not, there’s a big wide world out there

Tingyi Cayman Island

1.48

China Resources Land

1.02

Power Assets Holding

0.82

Hong Kong & China Ga

0.56

China Life Insurance

-4.92

Industrial & Commerc

-5.28

Kunlun Energy Co Ltd

-5.32

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China Construction B

-5.46

Ping An Insurance Gr

-6.24

Source: Bloomberg

“Refined’ Crowne Plaza to open in 2Q 2015 Yes, there are HR challenges. But Crowne Plaza Macau GM Dominique Berhouet is more than upbeat. Slated to open early to mid-next year, the new hotel will be a “small but refined project”. Increasing visitors to the territory are encouraging. And being off the beaten track can be an opportunity, he says

I SSN 2226-8294

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Growing competition www.macaubusinessdaily.com

Novotel Zhuhai opens December 20. Targeting business and leisure travellers stopping off at both the city and Macau. The 268-room property will add to Novotel’s existing network of five hotels in the Pearl River Delta

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6

Roadmap rethink

Haitong buys Portugal-based BESI for HK$3.6 bln PAGE 8

Appeal of Broken Tooth’s former associate rejected PAGE 6

It started yesterday. The annual Central Economic Work Conference in Beijing. Task: develop next year’s economic roadmap. Meanwhile, experts are recommending government reduce its 2015 growth forecast

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More financial innovation needed, says Nobel Laureate Robert Merton PAGE 8

2014-12-10

2014-12-11

2014-12-12

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14˚ 17˚

13˚ 16˚


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