MOP 6.00
Rosário: MOP1 / 10 min. meters worth a try
Closing editor: Joanne Kuai
Page 6
New yuan loans exceed expectations in July Page 8
Auto output and sales weak in Mainland in first seven months Page 10
Year IV
Number 855 Wednesday August 12, 2015
Publisher: Paulo A. Azevedo
MelcoLot: Second-phase tender for Spanish gaming licence starts soon Page 6
Taking the Long View Not such smooth sailing. The height of Fisherman’s Wharf’s Legendale Hotel continues to be dogged by controversy. With members of the Urban Plan Committee adding their objections to those of the public. And a supplementary study may be on the cards. At issue is gov’t approval for a 90-metre vs. 60-metre construction. The gov’t sys more discussion is needed. While a possible delay of the construction is expected by the company management. Regardless, “we’re definitely building it,” executive vice-president of Macau Legend Frederick Yip Wing Fat told reporters yesterday Page
2
Cleared for take-off A whole new world awaits. The Bank of China Macau Branch now offers renminbi clearing services for Portuguese-speaking countries. The bank believes the newly approved policy will help it develop other financial business in Luso countries
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Centralising Currency
The yuan fell sharply yesterday. Following the central bank’s decision to improve its ‘central parity system’. In order to better reflect market development in the exchange rate between the Chinese yuan and U.S. dollar
www.macaubusinessdaily.com
Pages 8&9
It pays to be prudent
Property
A word to the wise. The local banking sector should adopt a cautionary approach. Particularly regarding bad loans and associated credit risks. The economic environment can change quickly, says a local researcher with the Monetary Authority of Macau
A 5.7 pct month-on-month increase. With new residential mortgage loans approved increasing to MOP3.93 billion in June. Most were granted to local residents. Nevertheless, the total value of mortgage loans represents a plunge of 57.1 pct Y-o-Y
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Bricks and mortar
Page 2
HSI - Movers August 11
Name
%Day
Li & Fung Ltd
+4.95
CNOOC Ltd
+4.09
China Overseas Land &
+3.70
Lenovo Group Ltd
+2.86
Tingyi Cayman Islands
+2.12
Galaxy Entertainment
-1.21
Tencent Holdings Ltd
-1.40
CK Hutchison Holdings
-1.47
Cheung Kong Property
-1.77
Cathay Pacific Airways
-2.03
Source: Bloomberg
I SSN 2226-8294
2015-8-12
2015-8-13
2015-8-14
26˚ 31˚
26˚ 30˚
26˚ 30˚