MOP 6.00
More bang for the buck
Closing editor: Joanne Kuai
MGM Resorts Int’l is being pressed by investors to sell assets. And put its properties into a REIT to boost stock prices. Chairman James Murren says the choices have narrowed to “less than a handful”. Conceding that “these decisions will be pretty permanent”
Year IV
Number 890 Thursday October 1, 2015
Publisher: Paulo A. Azevedo
Page 8
Real estate cooling further
Average housing prices continue cooling. Posting a y-o-y decline of 16.9 pct to MOP84,087 (US$10,510) Increasing prices in August. Meanwhile, total transactions fell 22 pct y-o-y to 443 in the month. Property agency and transactions generate profit for Midland Group Centaline (Macau) Property Agency Ltd. says shop rents in the territory registered different levels Page 4 of decrease in Q3. With west NAPE shop rents plunging 50 pct y-o-y Page
4
U.S. judge revokes bail for Ng Lap Seng’s aide
Page 11
Cash Cap
Mainland’s gold reserve increased by 16 tonnes last month
An annual cap of 100,000 renminbi on UnionPay ATM overseas cash withdrawals per card. Now confirmed by the card issuer. Analysts say the impact on the local gaming industry will be limited. As ATM withdrawals are not the major funding channels for players. Foreign card cash withdrawals have also been capped
Page 12
Japan’s factory output figures raise doubts about stimuli policy
Page 15
Page 10
Persistent Outflow
Inflexibly Flexible?
The deficit on China’s capital and financial account. To persist throughout 2015. A weak economy and the Fed’s likely rate rise are conditioning capital outflows
All a question of intent. So says a gaming labour union with regard to a local gaming operator offering employees flexi-hours. Up to as little as 24 hours a week. The fear is that the plan may not be reversible. And thus unfavourable to workers’ benefits. Meanwhile, the gov’t says September gaming revenues may plummet by up to MOP3 billion
Page 12
HSI - Movers September 30
Page 6
Tourism
www.macaubusinessdaily.com
Packages Unravelling Package tour visitors totalled 905,000 in August. Declining 20.5 pct y-o-y. Those from Mainland China dropped 17.2 pct to 777,000. Average hotel occupancy dropped to 84.4 pct. A 7.2 pct increase delivered 30,000 hotel rooms as at end-August
Name
%Day
CNOOC Ltd
+6.59
Li & Fung Ltd
+6.49
Kunlun Energy Co Ltd
+5.73
Lenovo Group Ltd
+5.66
China Petroleum & Che
+5.13
Hang Seng Bank Ltd
-0.22
China Mobile Ltd
-0.27
Hong Kong Exchanges
-0.51
Galaxy Entertainment
-0.81
Sands China Ltd
-3.92
Source: Bloomberg
I SSN 2226-8294
Page 2
Due to the mandatory holiday on Thursday October 1, 2015 – National Day of the People’s Republic of China - Business Daily will not be published on Friday October 2, 2015. We will be back on Monday October 4, 2015 and wish all our readers a very enjoyable holiday.
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