MOP 6.00 Closing editor: Luís Gonçalves Publisher: Paulo A. Azevedo Number 742 Thursday March 5, 2015 Year III
Of MICE and Chui
M
ICE. The main axis of the MSAR’s diversification strategy. 2014 revenues from the sector Meetings, Incentives, Conferences, and Exhibitions - more than doubled to MOP278.4 million. But the gov’t picked up more than half the bill. Subsidising organisers to the tune of MOP165 million. And public help is growing. In 4Q, 75 pct of revenues were generated by administration funds. MICE is booming but increasingly dependent upon public largesse PAGE
2
CTM blames Huawei for ‘Porngate’ at GIT
Macau: 82 new residents per day
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Macau exporters express cautious outlook
It’s not growing as fast as tourists. But almost. Like visitors, Macau’s population continues to rapidly expand. In 2014, 30,000 new residents appeared here, a 5 pct increase Y-o-Y and 20 pct up on five years ago. After a cap on tourists, a cap on residents?
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Genting to buy Crystal Cruises PAGE 6
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Melco Crown delisting set for July 3
Lowered expectations
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HSI - Movers
Below expectations. Sa Sa’s pronouncement on CNY sales. The cosmetics retailer says revenues from Macau and Hong Kong recorded a 10 pct decline over the holiday period. A drop attributable to fewer Mainland customers
March 4
Name
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Missing delegates
www.macaubusinessdaily.com
All eyes are on who’s not there. President Xi Jinping’s anti-graft campaign will be more visible today. At the National People’s Congress starting session. Some of the delegates expected to attend have been set aside
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Abnormally normal ‘New normal’ has slipped into the lexicon. Some casino operators and the gov’t say it defines the ‘new’ gaming industry reality. Yesterday, the CE said he’s adjusting economic policy and goals. To reflect a monthly GGR of MOP20 billion rather than the MOP25-30 billion average of recent years. Operators have mixed feelings. With SJM pronouncing it is a natural development. While others, like Melco Crown, just don’t buy it
%Day
Tingyi Cayman Island
2.01
AIA Group Ltd
1.03
China Mengniu Dairy
1.00
Lenovo Group Ltd
0.34
Hong Kong & China Ga
0.34
Bank of China Ltd
-2.05
China Shenhua Energy
-2.18
Galaxy Entertainment
-2.88
China Resources Land
-3.92
China Resources Ente
-5.11
Source: Bloomberg
I SSN 2226-8294
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