MOP 6.00 Closing editor: Luís Gonçalves Publisher: Paulo A. Azevedo Number 717 Wednesday January 28, 2015 Year III
Bilateral Investment Treaties Quandary
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acau companies risk being left out in the cold. Specifically, out of any of the 130 Bilateral Investment Treaties where it is not clearly stated that the SAR is covered. A Singapore High Court has ruled that the territory is not included in an existing PRC treaty signed with Laos in 1993. A letter from the PRC Embassy in Laos to the local Ministry of Foreign Affairs clinched the ruling. The SAR Gov’t does not intend to appeal. But that leaves SAR companies on ambiguous ground PAGE
Gaming unions collecting signatures for full smoking ban PAGE 4
Legislators suggest longer period for conversion of bearer shares PAGE 3
CoD Manila to open next week PAGE 6
Construction leads employment growth PAGE 4
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Suncity brightens up the gloom
HSI - Movers January 27
Name
Despite the turbulence, falling revenues and a slew of shutdowns, a ray of light. Suncity Group, one of Macau’s biggest junkets, has announced a 7 pct salary hike for staff. Gaming labour union Forefront of Macau Gaming (FMG) told Business Daily, however, that some workers remain dissatisfied as it only applies to their basic salary. But there are bonuses on top
Galaxy Entertainment
6.48
Sands China Ltd
2.95
China Resources Powe
2.15
Kunlun Energy Co Ltd
1.60
Hang Seng Bank Ltd
1.35
Belle International
-1.89
Bank of China Ltd
-1.99
China Life Insurance
-2.00
Ping An Insurance Gr
-2.11
China Construction B
-2.18
Source: Bloomberg
I SSN 2226-8294
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Economy ‘mostly free’
Caught in the act
Good news from the Heritage Foundation Index of Economic Freedom. It says the local economy continues to be ‘mostly free’. For the seventh year in a row. The city ranked 9th in terms of economic freedom among 42 economies in Asia Pacific. And ranks 34 in the world. Hong Kong, Singapore, Australia, New Zealand, Chinese Taiwan, Japan, South Korea and Malaysia are still ahead
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Most companies are playing the game. But a gov’t working group has taken issue with one of them. Of 100 fuel products tested across seven companies, discrepancies were found in the filling amount of Companhia de Combustiveis United Ltd. Meanwhile, legislator Ho Ion Sang smells more than fumes. He is urging the establishment of laws to deal with the possible unifying of prices by gas companies.
PAGE 5
www.macaubusinessdaily.com
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Healing state firms Large state-owned industrial conglomerates have suffered a decrease. Leading the gov’t to concoct healing measures to return the organisms to health. Now to administer the medicine . . .
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Macau ranks 5th in World Tourism Barometer 2014 | PAGE 5
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