Closing editor: Luís Gonçalves
MOP 6.00
Whirlwind Romance
It was supposed to be for the long run. But casino-resort operator The Venetian Macao Ltd. terminated the contract with Chinese company Lander Real Estate Co. Ltd. after just 19 days. Sports promotion in and outside Mainland China brought them together. But both parties refuse to disclose what drove them apart
Year IV
Number 819 Tuesday June 23, 2015
Publisher: Paulo A. Azevedo
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Cleaning up the Team Zero tolerance. That is the message from Secretary for Security Wong Sio Chak regarding police violations of the law. Cases are being publicly exposed in the interests of transparency. “Only by cleaning up the team can the police force have a better image and improved workforce”, he says in an exclusive interview. Recruitment is challenging across the whole appointment spectrum. But 500 recruits are on the way. He acknowledges the relationship between gaming and crime. But says everything’s under control Page
3
The Hengqin magnet
Mainland companies shifting strategy towards R&D Page 10 Korean casinos plunge after report China arrests promoters Page 7 Paradise Ent pays final HK$5 cents dividend Page 7
Hengqin New Area wants Macau and Hong Kong to set up foreign private equities on the island. And is exploring ways to further facilitate two-way capital flows between Hengqin and Macau.Hengqin is also exploring forming more innovative finance policies as part of the Guangdong Free Trade Zone
MasterCard appoints Hiang Choong head of division for SARs Page 5
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Conservative considerations The gov’t has made a “reasonable” move. At least in the judgment of a University of Macau academic. This, with reference to the administration’s decision to invest part of its fiscal reserves in the provincial projects of Guangdong. Via its co-operation with China Development Bank. Adhering, still, to the MSAR’s cautious investment approach
HSI - Movers June 22
Name
Reversal of fortunes
China Life Insurance C
+2.99
AIA Group Ltd
+2.92
Bank of Communicatio
+2.85
Tingyi Cayman Islands
+2.30
The good old days have gone. Junkets were once responsible for 80 to 90 pct of all hotel room reservations in Macau. With high rollers sidestepping the city, hoteliers have lost their best clients. Forcing high-end units to slash prices to attract guests. Today, gaming promoters book just 30 to 40 pct of all rooms here
China Resources Powe
+2.20
CK Hutchison Holdings
-0.34
Lenovo Group Ltd
-0.35
Galaxy Entertainment
-1.30
Cheung Kong Property
-2.26
Sands China Ltd
-3.83
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www.macaubusinessdaily.com
%Day
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Source: Bloomberg
Insurance
Safe Boom
I SSN 2226-8294
Life insurance gross premiums. They account for MOP2.34 billion in Macau, 62.5 pct more than a year ago (MOP1.44 billion). China Life Insurance dominates amassing more than half the market
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