MOP 6.00
Stoic Sentiments
Closing editor: Joanne Kuai
The German Consul was adamant. The worldwide VW scandal will not impact German companies in the SARs. As the vehicles in question are not sold here. On the contrary, Nikolaus Graf Lambsdorff said the MGM Oktoberfest would boost German business and culture
Year IV
Number 900 Friday October 16, 2015
Publisher: Paulo A. Azevedo
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Galaxy Posts Buoyant Results
Galaxy reported income of HK$2.1b (US$271m) in Q3. Revenue plunged 29 pct y-o-y but sales rose 5 pct Foreign exchange from the June quarter to HK$12.3b in the 3-month period. The operator’s non-gaming revenue almost reserves MOP145 billion in September doubled to HK$742m in Q3 y-o-y. Including a quadrupling of rental revenue for its Promenade shopping Page 3 mall. Meanwhile, occupancy at Galaxy’s five hotels reached 99 pct, it said Page 7
Helping Hand
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Macau Gov’t has granted MOP80mworth of loans. To support the city’s young entrepreneurs and SMEs. This via 3 schemes during Q3. Down nearly 5.2 pct compared to MOP84.46m extended in Q2. DSE received 104 applications for the Young Entrepreneurs Aid Scheme in the quarter, of which 75 were approved
Watch retailer Stelux expects to slip into red
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Sheraton appeals Court of Second Instance decision
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Page 3
Flexibility the new normal The hot potato. Gaming table applications filed by Melco and Galaxy remain under evaluation. Credit Suisse speculates that Melco Crown may get 250 gaming tables, while Galaxy may be given 100 more. ‘In line with the government’s supportive stance for the industry, in our view,’ say the investment bank’s analysts
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HSI - Movers October 15
Public parking impasse Today AL starts its new legislative year. The universal smoking ban in casinos, 2016 fiscal budget, new Land Law amendments, and other important issues await resolution. But first out of the traps, legislators are set to discuss the fate of the monthly public parking rental system
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Retail
www.macaubusinessdaily.com
Luk Fook same store sales growth down 6 pct in Q2
Fashion Fallout A sharp sales slowdown in the SARs. And especially Mainland China. Leading Britain’s Burberry to miss growth forecasts and add to the growing chorus. That of an increasingly challenging environment for luxury goods sales. Burberry shares languish at an almost three-year low
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Name
%Day
Galaxy Entertainment
+11.28
Sands China Ltd
+10.25
China Merchants Holdi
+7.23
China Shenhua Energy
+4.93
Hong Kong Exchanges
+4.42
BOC Hong Kong Holdin
+0.39
Tingyi Cayman Islands
0.00
Want Want China Hold
-0.78
China Unicom Hong Ko
-2.77
Li & Fung Ltd
-4.29
Source: Bloomberg
I SSN 2226-8294
2015-10-16
2015-10-17
2015-10-18
22˚ 30˚
21˚ 29˚
21˚ 29˚