MOP 6.00 Closing editor: Joanne Kuai Publisher: Paulo A. Azevedo Number 715 Monday January 26, 2015 Year III
Galaxy declares its mass market credentials
G
EG unveiled its HK$24.6 billion projects last Friday. Galaxy Macau Phase II and Broadway Macau are slated to open on May 27. “These projects will complement our position in the Macau and Hengqin area as a leisure and entertainment destination,” said vice chairman Francis Lui. The two projects will double the size of the company’s resort area in Cotai to 1.1 million square metres. “It will take some time for non-gaming to assume a more important role in terms of revenue,” Lui said, “But once the new projects are opened, which will take place in the next 2 to 3 years, there will be a very obvious change.” PAGEs
Waiting room
Harbour less fragrant Hong Kong has taken a bit of a knock recently. It has dropped out of the world’s top 30 mostliveable cities. Poor air quality and social unrest caused by the Occupy Central movement have taken their toll. This, according to a survey by consulting firm ECA International for Asia expats
The end of 2017 is the new targeted completion date. This is for most of the buildings in the city’s second public hospital, situated in Cotai. First conceived in 2009, the first phase should have been completed in 2014. The budget estimate remains uncertain, while it may prove to be a challenge to find a capable contractor, it has emerged
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4&5
Adelson to become Sands China CEO amid Macau casino slump PAGE 7 Bad omens for Asia’s economies in 2015 PAGE 12 Japanese inflation moves into the slow lane PAGE 13
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Gaining weight
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Yuan importance in international markets is increasing meaningfully. So says a report issued by heavyweight consultancy firm Fitch. The company forecasts that the current year will see a more important role for the RMB
HSI - Movers January 23
Name
PAGE 11
INTERView
www.macaubusinessdaily.com
Young entrepreneur Unpopular but necessary. So says the winner of the 2014 Business Awards Young Entrepreneur. Annabella Lam shares the trials and tribulations of setting up a laundry business with Business Daily. Today, Tim Bondi Enterprise Ltd. is one of the major players in Macau. The gaming liberalization policy presented her with a golden opportunity a decade ago. But it’s hard work, capital intensive, and difficult to attract new blood to the industry, she says
Pages 8 & 9
%Day
China Resources Ente
6.71
Cathay Pacific Airwa
5.91
Sino Land Co Ltd
3.70
Cheung Kong Holdings
3.04
Henderson Land Devel
3.00
China Shenhua Energy
0.00
AIA Group Ltd
-0.22
CITIC Ltd
-0.44
China Unicom Hong Ko
-0.50
Want Want China Hol
-2.66
Source: Bloomberg
I SSN 2226-8294
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