Macau business daily, 2015 July 10th

Page 1

MOP 6.00

Lacklustre sparkle

Closing editor: Luís Gonçalves

The never-ending luxury crisis. Chow Tai Fook, the world’s largest listed jewellery chain by sales, saw the value of its retail sales fall 6pct in Q2. Weak sales in Hong Kong and Macau were cited. The jeweller saw net income plunge 25 per cent for the fiscal year ending March. Heavy discounts have been introduced to move inventory

Year IV

Number 832 Friday July 10, 2015

Publisher: Paulo A. Azevedo

Page 4

U-TURN?

Discussions on the universal smoking ban in casinos have started. With casino operators heartened by Alexis Tam’s comments. Originally, the Secretary for Social Affairs and Culture wanted to limit the number of tourists from Mainland China to Macau. Yesterday, however, his speech in the Legislative Assembly suggested a U-turn. “We are confident in our work of promoting Macau and increasing the number of tourists. There is huge potential to attract more tourists”, the Secretary said. The smoking ban vote is scheduled for today Page

2

Tobacco tax to boost grey market

Pages 9&10

July 9

Awaiting developments

Far quicker to watch paint dry. But the DSSOPT moves inexorably forward. Maybe. The city’s Land, Public Works and Transport Bureau has yet to conduct land swaps for six parcels of land acquired from land grantees for public projects and private projects. Including Wynn Macau, MGM China, and Galaxy Macau

Page 4

Investment www.macaubusinessdaily.com

Angel card shuffle trademark arguments rebuffed Page 6

HSI - Movers

Page 3

Beijing’s moved swiftly. To arrest nosediving markets. Stocks rebounded yesterday. While authorities stepped up probes into illegal trading activities promising retribution

Available Windsor Arch units sold out Page 6

MGM Resorts International sells two Reno casinos Page 8

A price gap of nearly MOP40. The likely retail price difference in a packet of cigarettes sold here and in Zhuhai. That is, once the new MSAR tobacco tax is introduced. Tax will leap from 33pct to 70pct. Encouraging a sharp rise in the grey market, says a trade chamber

Stable signs

Kwan Tsui Hang urges competition for energy market Page 7

Name

%Day

Hong Kong Exchanges

+14.85

China Resources Land

+11.77

China Overseas Land &

+10.67

Want Want China Hol

+8.58

Tencent Holdings Ltd

+8.31

China Petroleum & Che

-0.49

CLP Holdings Ltd

-0.62

Bank of China Ltd

-0.69

Link REIT/The

-1.88

Bank of Communicatio

-5.26

Source: Bloomberg

Embryonic entrepreneurs

I SSN 2226-8294

Start with MOP100. Local youths can ‘practise’ big business in Hengqin. Courtesy of the Sun Kian Ip Group, eager to seed and grow budding entrepreneurs. The company wants to assist 10,000 youths start their own business. Using the company’s Young Entrepreneurs Building in Hengqing as the investment vehicle and escalating costs. They forecast a drop of 34 pct in revenues this year, with 2016 still in the red

Page 7

2015-7-10

2015-7-11

2015-7-12

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