MOP 6.00 Closing editor: Joanne Kuai
No bloom in June Slow growth in China’s factories. This, according to the official Purchasing Managers’ Index for June. Services and construction fared better, climbing convincingly over last month
Year IV
Number 826 Thursday July 2, 2015
Publisher: Paulo A. Azevedo
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Wheel of Misfortune The pressure’s still on. The casino take has slumped to it lowest in more than four years. Gross gaming revenues in June fell 36.2 pct to MOP17.4 billion. Dropping 37 pct y-o-y. The gov’t has loosened the transit visa policy for Mainlanders. But the imminent universal smoking ban in casinos, China’s stubbornly slowing economy and a second wave of graft crackdowns spells prolonged misery Page
7
In Perfect Shape
China requests negotiations between Greece and troika resume Page 11
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Brought to you by
Ups and downs
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HSI - Movers July 1
Bank charge
Name
The city’s economy contracted 24.5 pct in Q1. But the banks are making hay. Profits surged by double digits from Jan. to Apl. With operating profits in the sector reaching MOP4 billion. Increased deposits, Hengqin expansion and an SME boom have fuelled the bonanza
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Property
www.macaubusinessdaily.com
MGM Resorts activist renews spin-off call after Kerkorian Page 8 Home prices in China increase slightly in June Page 9
Profits are fattening up. Slimming and beauty parlour chain Perfect Shape reported net profits up 62.5 pct y-o-y to HK$134.9 million. Regardless, stocks dropped 11.44 pct to HK$1.78 per share following the results release
Hong Kong-based company Kingston Financial Group Ltd. wisely spread its risk. Across hotels, gaming, securities brokerage, underwriting and placements, margin and IPO financing businesses. The owner of Casa Real and Grandview Hotel reports poor gaming returns. But overall, the year brought in HK$2.48 billion, a 34.2 pct hike
Macau Cable TV registers losses of MOP32 million Page 3
Real estate catching a cold
%Day
China Resources Land
+4.57
Bank of Communicatio
+4.12
Lenovo Group Ltd
+4.07
China Merchants Hold
+3.74
China Life Insurance C
+3.37
Galaxy Entertainment
-0.48
Li & Fung Ltd
-0.49
Hong Kong Exchanges
-0.51
Cathay Pacific Airways
-1.04
Sands China Ltd
-2.06
Source: Bloomberg
I SSN 2226-8294
The contagion is spreading. Tanking gaming revenues are affecting other sectors – particularly real estate. Agencies say Macau will see further falls in transaction prices and shop rentals. Prime districts will take a hit in 2H 2015. Becalmed new home supply and weak sales in the second-hand market marks the worst half-year since 2003
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