MOP 6.00
HK court to hear alleged violation of Joseph Lau’s privacy case in October
Closing editor: Joanne Kuai
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Foreign investment in China comes of age thanks to M&A Page 8
Publisher: Paulo A. Azevedo Number 861 Thursday August 20, 2015 Year IV
Tianjin blast waves rattle global economy
Grant Bowie: MGM Cotai project on schedule to open in Q4 2016 Page 6
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Austerity Begins At Home
A galaxy of challenges to overcome. But Macau’s gaming revenue slump has “almost hit bottom”, asserts Galaxy Chairman Lui Che Woo. With high expectations for the second half. Right now, cost control is high on the agenda. Galaxy Entertainment Group profit declined 66.2 pct y-o-y during the first half of the year to HK$2.02 billion from HK$5.98 billion. While 2Q earnings plunged 46 pct to HK$1.9 billion Page
5
Cyber security again Universally unpopular. Chinese regulations for domestic banking information systems are back again following a brief respite. Foreign IT companies will need to provide sensitive information linked to their core intellectual property
Shortchanged Interns Another petition. This time to Melco Crown today. Gaming labour union Forefront of Macau Gaming and alliance say they are representing some 1,000 high-duty dealers. Who claim that they have been underpaid whilst fulfilling supervisors’ duties
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HSI - Movers August 19
Name
Taxing Times
Under the microscope. The Financial Services Bureau says only 13 pct of the city’s 263,712 registered properties are declared ‘leased units’. Property owners have tax obligations, says the DSF
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www.macaubusinessdaily.com
Society
Fewer Vacancies
Urban Renewal
Fewer positions open. The gaming slump is biting. With only 507 job vacancies in 2Q. A plunge of 66.8 pct vs. a year ago. Vacancies for dealers dropped 78.7 pct y-o-y to 107. Average earnings of full-time employees in the industry rose 6.5 pct y-o-y to MOP21,480
Urban renewal. Lots of talk, and for a long time. Secretary for Transport and Public Works Raimundo Rosário now says it need not necessarily apply exclusively to buildings over 30 years old. Newer buildings can also apply for renovation or reconstruction. The city has a ‘sufficient supply’ of residential units, he says. Despite the dearth of public housing
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%Day
Lenovo Group Ltd
+4.26
Li & Fung Ltd
+2.88
Sino Land Co Ltd
+1.41
China Overseas Land &
+0.44
Tencent Holdings Ltd
+0.14
Ping An Insurance Gro
-2.89
Sands China Ltd
-3.36
China Mengniu Dairy C
-3.74
Galaxy Entertainment
-4.43
Cathay Pacific Airways
-7.68
Source: Bloomberg
I SSN 2226-8294
2015-8-20
2015-8-21
2015-8-22
27˚ 33˚
27˚ 32˚
27˚ 33˚