Macau business daily, Apr, 17, 2015

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MOP 6.00 Closing editor: Luís Gonçalves Publisher: Paulo A. Azevedo Number 772 Friday April 17, 2015 Year IV

Fingers crossed

Delayed schedules and budget overruns. The bane of the Secretary for Transport and Public Works’ life. During his Policy Address for 2015, Raimundo Rosario revealed the gov’t is planning to introduce a new method of calculating project time. While picking up tips from Hong Kong on compensative penalties in public works. Several legislators criticised the Secretary’s perceived negativism. The gov’t will try to reach consensus with the Light Rail Transit (LRT) contractor. And it’s fingers crossed on Pac On Ferry Terminal Page

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Not so Wonderful

Rolling the dice

Claim and counterclaim. Charlie Choi Kei Ian, chairman of mobile gaming application developer ‘Wonderful World’, denies all knowledge. He is accused of founding the debt-chasing website ‘Wonderful World’. And defending against a lawsuit accusing him of violating the personal data protection law. Plus aggravated disobedience

It was already anticipated by investors. Galaxy profits tanked 40 pct. With revenues sliding 32 pct in Q1, in line with market expectations. The company has pushed out quarterly results about a month earlier than usual. Turning its full attention to opening two new local properties. And wooing gamblers scared away by China’s crackdown on corruptionkdown on corruption

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Tourist inflation at 5-year low Good news for tourists. Prices for tourist services increased last quarter at the slowest pace since 2009. Accommodation costs dropped almost 5 pct, data released by the Statistics and Census Service shows. The main driver dragging prices down for visitors was the lower prices of 3 and 4-star hotel rooms. Which declined 7 and 3 pct, respectively

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This global world

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Insurance assurance Upward trajectory. The Macau insurance industry grew 20.4 pct from 2009 to 2013. Research and Markets says life segment products account for over 70 pct of the insurance business. The study revealed. The gaming and tourism industry plus low penetration rate of the insurance market bodes well for the industry

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FDI in China climbed in Q1. To US$34.88 billion. Overseas direct investment (ODI) increased 0.4 pct in March. For a Y-o-Y total of US$8.39 billion

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Elaine Wynn gains advisor backing Page 6

HSI - Movers April 16

Name

%Day

China Life Insurance

4.09

PetroChina Co Ltd

3.96

Galaxy Entertainment

3.83

CNOOC Ltd

3.41

Ping An Insurance Gr

3.10

Hengan International

-1.23

Cathay Pacific Airwa

-1.43

China Merchants Hold

-1.81

Wharf Holdings Ltd/T

-2.11

Sino Land Co Ltd

-2.50

Source: Bloomberg

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2015-4-17

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Macau business daily, Apr, 17, 2015 by Business Daily - Issuu