MOP 6.00
Chinese Estates’ assets disposal extended to Mainland
Closing editor: Luís Gonçalves
Page 4
Pataca rebounds in June Page 5
Deutsche Bank’s casino investment challenged
Putin changes law for Vladivostok to compete with Macau Page 7
Year IV
Number 836 Thursday July 16, 2015
Publisher: Paulo A. Azevedo
Page 7
Collateral Damage Shops in tourism areas. No sector has been more affected by the gaming downturn. Centaline and Jones Lang LaSalle say these stores have suffered convulsions. With -45 pct in sales prices and -30 pct in rentals. Beating the overall market slump several fold during Q1. Some shop tenants called it a day when confronted with aggressive prices demanded by owners. Meanwhile, residential unit rentals dipped around 5 pct with high end units dropping 11 pct Pages
2&3
Room with a view The Macau Gov’t has approved the construction of a 3-star guesthouse near Mount Fortress on the Macau Peninsula. Companhia de Fomento Predial Iong Seng, Lda. plans to build a seven-storey 3-star guesthouse occupying a gross floor area of 1,490 square metres. The company has 36 months to complete the project. It will be the fifth 3-star guesthouse in operation here
It’s that transparency issue again. New Macau Association legislators Au Kam San and Antonio Ng Kuok Cheong want a formal hearing. They say the gov’t must disclose information about ‘idle’ land grants. The pro-democrats want to know why the gov’t allowed landholders to retain 16 plots of land ‘mistakenly’ confiscated
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Brought to you by
HSI - Movers July 15
‘Unjustified’ recovery
Investors are cautious. The recent 20 pct jump in value of gaming stocks following transit visa relaxation is termed ‘unjustified’. And the recent crash in the Chinese stock market is likely to hit Macau in the VIP and mass premium segments. Because many of the city’s junkets lost a packet in the past three weeks, says Deutsche Bank
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Name
%Day
BOC Hong Kong Holdin
+2.29
China Petroleum & Che
+1.97
Cheung Kong Property
+1.92
China Mobile Ltd
+0.99
Link REIT/The
+0.67
Hong Kong Exchanges
-2.40
CITIC Ltd
-2.45
China Life Insurance C
-2.69
New World Developme
-3.30
Galaxy Entertainment
-3.67
Source: Bloomberg
China www.macaubusinessdaily.com
Another quarter, another drop. No end in sight for the high-end retail sector. Jewellery company Luk Fook saw sales decline 19 pct in its Hong Kong and Macau shops for the April-June period. This, after a drop of 22 pct in the previous quarter
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Digging for answers
Dropping like a stone
Adding up the figures
I SSN 2226-8294
National GDP figures. An unpredicted and remarkable 7.0 pct increase. But feeble activity in many sectors of the Chinese economy has aroused doubts among seasoned observers. “Hard won”, says the stats bureau. With increased domestic consumption given the credit
Pages 8&9
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