Closing editor: Luís Gonçalves
MOP 6.00
Shaken, but still standing All the usual suspects. Hitting the profits of Emperor Entertainment Hotel, down 16pct y-o-y. Although revenues are up 10pct for fiscal 2014/2015. The group controls Macau Grand Emperor Hotel and Best Western Taipa Hotel
Year IV
Number 833 Monday July 13, 2015
Publisher: Paulo A. Azevedo
Page 4
Hope in the air Is the haze clearing a little? The Legislative Assembly has passed the gov’t-backed bill drafting a universal smoking ban in casinos. And suggests the closure of smoking lounges. But the Secretary for Social Affairs and Culture has held out an olive branch. Alexis Tam said the gov’t will consider smoking lounges if they can be scientifically proved to be “effective”. But no compromise on a universal smoking ban Page
2
Ahead of the game
Pass the hankies Spare a thought for China’s wealthiest. Many lost big when national stock markets plunged last week. Almost erasing profits ploughed in since the beginning of the year. US$100 billion evaporated
Page 8&9
HSI - Movers
They did it again
July 10
Louis XIII is betting big. On being the most extravagant hotel-resort property in Macau. It will offer the most expensive suite in the world. And the largest fleet of Rolls-Royce Phantoms in the world. Now Stephen Hung is turning his attention to the most exclusive restaurant. Paris-based three-Michelin star restaurant L’Ambroisie is to open its only other property in Louis XIII. With prices to match and limited seating
Page 5
Interview www.macaubusinessdaily.com
T. Rowe reduces Wynn Resorts stake, leaving founder top holder Page 5 Fewer duty-free cigarettes allowed to enter Macau Page 3 Macau GP preparations continue as FIA ratifies FIA GT World Cup Page 4
Negative headlines. Gaming crises. Economic recession. And now for the good news. The Macau Gov’t has already achieved its fiscal surplus goal for the year. With six months yet to go. As at June, the city’s fiscal surplus was MOP25.2 billion. Well in excess of the year’s targeted MOP18.8 billion
Page 4
Infrastructure contract law amendment needed Page 3
Connecting the dots Echo Chan is the deputy secretary general of the Secretariat for the Forum for Economic and Trade Co-operation between China and Portuguese-speaking countries. Macau is reinforcing its role as trade agent for China and Portuguese-speaking countries, she told Business Daily, as a platform for SME’s. The opportunity is already here. Demand for good quality products from Portuguesespeaking countries from China is rising fast, she says
Page 6&7
Name
%Day
CITIC Ltd
+9.03
China Life Insurance C
+6.61
Ping An Insurance Gro
+4.98
China Mobile Ltd
+4.64
China Overseas Land &
+4.02
Li & Fung Ltd
-0.51
Power Assets Holding
-0.58
MTR Corp Ltd
-0.72
China Resources Enter
-1.90
Want Want China Hol
-2.07
Source: Bloomberg
I SSN 2226-8294
2015-7-13
2015-7-14
2015-7-15
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27˚ 33˚
27˚ 33˚