MOP 6.00 Closing editor: Joanne Kuai Number 749 Monday March 16, 2015
Publisher: Paulo A. Azevedo
Macau in recession
M
Year III
acau is in technical recession. The territory’s Gross Domestic Product has registered two consecutive quarterly declines. With gaming revenues dropping for nine consecutive months, GDP plunged again in Q4 2014 by 17.2 pct. Casino finances typically generate more than 80pct of all government revenues. And represents more than half of the economy. Fallout from the current gaming crisis is proving to be much more damaging than in 2009 PAGE
Becalmed real estate
3
Fiscal surplus slumps 30 pct in February
PAGE 2 Suncity in talks with Vietnamese Government for casino investment
New residential mortgage loans approved in January totalled MOP3.8 billion. Compared to MOP3.7 billion in December 2014. Although a slight increase (2.7 pct) on the previous month, it posted a Y-o-Y decrease of 12.5 pct. New loans for commercial property reached only MOP4.8 billion
PAGE 4 Macau tertiary education attracts Mainland undergraduates
PAGE 5 Macau boom-bust comes full circle under Xi as US$111 bln evaporates
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HSI - Movers
Best foot forward
March 13
Name
That’s it for now. The National People’s Congress wound down yesterday amid a battery of messages strengthening the tactics for the current year. Premier Li Keqiang said the central gov’t is ready to manoeuvre if the stalling economy puts jobs at risk
Recycled water in the pipeline Many plans in the offing. Macao Water Supply Co. Ltd. will start construction on a new water treatment plant in Seac Pai Van by year-end. Anticipating much greater demand. ‘Production’ will be ready by 2017 when the first phase of the project is completed. Meanwhile, the gov’t is preparing for recycled water in the SAR after 2016. Originally, a water recycling plant in Coloane was to be up and running this year
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PAGEs 6 & 7
%Day
China Shenhua Energy
2.97
Bank of China Ltd
2.11
Bank of Communicatio
2.04
China Mengniu Dairy
1.99
Tencent Holdings Ltd
1.37
Sino Land Co Ltd
-1.69
China Resources Powe
-2.04
Galaxy Entertainment
-2.29
Li & Fung Ltd
-2.58
Lenovo Group Ltd
-4.20
Source: Bloomberg
www.macaubusinessdaily.com
INTERVIEW
I SSN 2226-8294
Portuguese portions Home from home. That’s the philosophy, and so far so good. Portuguese beerhouse chain Portugália has got off to a flying start in Taipa. More restaurants are on the horizon in Macau. And the company is looking at Hong Kong and China down the road. But one step at a time, says Bruno Castro, Executive Manager for the territory. He tells Business Daily that the focus right now is on providing authentic Portuguese cuisine and contact with Portuguese culture. For Asians as well as Portuguese patrons
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