Macau Business Daily August 13, 2015

Page 1

MOP 6.00

THS Honolulu to redevelop land next to Chong Sai Pharmacy

Closing editor: Joanne Kuai

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Melco prepares contingency plan for Studio City Page 6

Pandora assumes distribution for Macau and Singapore Page 7

Year IV

Number 856 Thursday August 13, 2015

Publisher: Paulo A. Azevedo

Luxury retail sales plunge, Hong Kong landlords adopting softer tone Page 7

Mid-term Gaming Review Imminent The much awaited ‘mid-term gaming review’. The gov’t is expected to have its first draft ready by end-September, says CE Chui Sai On. Renewal of the current gaming concessions will revolve around 8 key aspects. Affecting the community, SMEs, and the fulfilment of contractual and social responsibilities. “By the end of the year we expect to run a public consultation”, he said. Predicting future gaming revenues will run to some MOP200 billion per year Page

5

Yuan Devaluation Chinese currency continues its downward trajectory. Reaching almost 4 pct devaluation. Mismatching economic results support the theory that Beijing’s action is necessary. And that depreciation might be prolonged

Behind the facade

The public are behind him, he says. Alexis Tam claims most of the community polled agree to rebuilding Hotel Estroil. Controversy has erupted since the revamp project was suggested. With its cultural heritage being debated. Public opinion will be invited for a further month

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Pages 8-11

Chain reaction Yuan devaluation. One effect will be on the local yuan-denominated deposit business. In the short term, clients are expected to convert their yuan into other currencies. Especially if their fixed deposits are maturing soon

www.macaubusinessdaily.com

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HSI - Movers

Land plots

August 12

Name

%Day

Li & Fung Ltd

+2.79

CLP Holdings Ltd

+1.30

Power Assets Holding

+0.62

Hong Kong & China Ga

+0.25

Link REIT/The

+0.23

Galaxy Entertainment

-4.77

Sands China Ltd

-5.21

Gaming

BOC Hong Kong Holdin

-7.78

Palace Revolution

China Resources Land

-8.00

China Overseas Land &

-8.32

Chief Executive Chui Sai On was adamant. No new urban reclaimed areas will be swapped to pay off the gov’t land debt. He promised the Legislative Assembly increased transparency in dealing with the issue. Citing the decision to put the Iec Long Firecracker factory land case in the hands of the CCAC

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Source: Bloomberg

Gaming revenue down 40.3 pct Y-o-Y to HK$26 bln in H1. Casino operator SJM CEO Ambrose So speaks of ‘controlling costs to the extent possible’. The company remains confident that Lisboa Palace is on target for completion in 2017. With an inferred uplift in fortunes

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I SSN 2226-8294

2015-8-13

2015-8-14

2015-8-15

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Macau Business Daily August 13, 2015 by Business Daily - Issuu