MOP 6.00 Closing editor: Joanne Kuai Publisher: Paulo A. Azevedo Number 760 Tuesday March 31, 2015
Fiscal reserves review L
Year III
ooking for better returns. Secretary for Economy and Finance Leong Vai Tac says the gov’t is planning to invest in new projects. China Development Bank and Guangdong Province are the likely vehicles. This would be prior to the foundation of the sovereign wealth fund suggested by the Chief Executive. An amendment to the budget framework law will enter legislating procedures this year. The gov’t will also scrutinise gaming concession plans. And is pushing for a verifiable promotion scheme for locals PAGE
3
Ironic arraignment It’s a Wonderful World. But not always. The founding operator of the ‘Wonderful World’ website has found himself on the wrong side of the law. Having ‘named and shamed’ Macau casino gambling debtors, he also has charges to answer. He faces a court hearing on April 16 for violating local data protection laws
Galaxy brightening
Page 2
GEG is hopeful. In January and February, Galaxy Entertainment Group generated 26 pct of total VIP revenues. From some US$3.2 billion (MOP25.5 billion) according to Deutsche Bank. Its mass market take is lagging. But GEG’s new properties opening in May could change all that
Page 5
What goes around... Mainland tourists are turning their backs on Hong Kong. With a plunge of 80 pct reported last month in the neighbouring city. Local harassment is cited as the overarching reason. The retail trade is having a rethink. As are landlords faced with demands for cheaper rentals
HSI - Movers March 30
Name
Bumpy ride
A disastrous year for profits. City flag carrier Air Macau Co. Ltd. plunged 51 pct Y-o-Y to 106 million yuan (US$17 million) in 2014. The airline’s management attributes the rough ride to increasing competition among PRD airports. And price wars. A majority of the 22 city destinations it serves are in Mainland China Page 4
www.macaubusinessdaily.com
Page 8
%Day
Hong Kong Exchanges
7.94
China Merchants Hold
6.21
China Life Insurance
5.42
China Shenhua Energy
4.89
China Overseas Land
4.21
CLP Holdings Ltd
-0.15
Tingyi Cayman Island
-0.47
HSBC Holdings PLC
-0.59
China Resources Powe
-1.03
Link REIT/The
-1.34
Source: Bloomberg
I SSN 2226-8294
Brought to you by
Angela Leong: Canidrome’s historical value shouldn’t be forgotten
Page 2
CEM’s net profit in 2014 reached MOP608 million
Page 3
Paradise Entertainment posts 36 pct decline in 2014 profit
Page 5
Bonjour profits dive 17 pct in 2014
Page 6
2015-3-31
2015-4-1
2015-4-2
21˚ 25˚
21˚ 26˚
21˚ 26˚