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Business Daily #1401 October 12, 2017

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Casino expansion in Russia receiving cold reception Gaming Page 7Thursday, October 12 2017 Year VI  Nr. 1401  MOP 6.00  Publisher Paulo A.…
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Casino expansion in Russia receiving cold reception Gaming Page 7Thursday, October 12 2017 Year VI  Nr. 1401  MOP 6.00  Publisher Paulo A. Azevedo Closing Editor OSCAR Guijarro   ResultsReportLocal investor Amax bathes in success of Pacific islands biz Page 7www.macaubusiness.comGamersIMF raises growth forecast for MSAR Page 2PoliticsA report traces gamblers’ profile features Page 6Xi likely to retain 69year old graft buster, despite retirement age rule Page 10Plugging into the BayGreater Bay AreaA study has been released. Produced by the Macau Economic Association in a Greater Bay Area seminar held yesterday. Concluding that the MSAR needs to develop its very own special financial features to gain traction in the economic zone. The relationship with Portuguese-speaking countries is central to the recommendations. Page 3Heritage ahoy Coloane shipyards Coloane is taken into consideration in the Macao Tourism Industry Development Master Plan announced late September 28. Questions arise, however, regarding development details. Especially related to its shipyards. Meanwhile, cleanup continues in wake of Hato havoc. Page 4Online rental corneredBusiness Daily digs into the online rental situation. Despite repeated official statements declaring illegality of the business, websites still offer rental deals for private MSAR properties.HKSAR CE plunges inSharing economy Page 2HK Hang Seng Index October 11, 2017 28,389.57 -101.26 (0.36%) Worst PerformersGeely Automobile Holdings+5.60%AIA Group Ltd+1.62%Sands China Ltd-2.70%Link REIT-1.09%China Mengniu Dairy Co Ltd+3.04%Hengan International Group+1.42%Galaxy Entertainment Group-1.86%Sino Land Co Ltd-1.00%+1.81%Bank of Communications+1.18%China Shenhua Energy Co-1.51%BOC Hong Kong Holdings-0.78%CITIC Ltd+1.72%Ping An Insurance Group Co+1.11%Cathay Pacific Airways Ltd-1.48%Want Want China HoldingsCK Infrastructure Holdings+1.70%Lenovo Group LtdAAC Technologies Holdings-1.46%HSBC Holdings PLCHang Lung Properties Ltd+0.93%-0.71% -0.64%32°  24° 30°  25° 30°  24° 27°  25° 29°  26° TodaySource: BloombergBest PerformersFRISATI SSN 2226-8294SUNMONSource: AccuWeatherPolicy Address Meeting the public’s housing needs remains the “top priority” for Hong Kong. So said Carrie Lam in her maiden speech. Market expectations for more co-operation with developers on land supply not met, however, say analysts. Unlocking agricultural land for residential use the key missing element in inaugural speech of HKSAR Chief Executive. Page 82    Business Daily Thursday, October 12 2017Macau ConstructionParting the watersThe construction of an underwater tunnel is considered to be a major section of the Hong Kong-Zhuhai-Macau Bridge completedThe construction of a 6.7 kilometre dual six-lane sub-sea tunnel connecting two 10 hectares of artificial islands of the Hong Kong-Zhuhai-Macau Bridge was completed on October 8, theZhuhai Government media portal has announced. According to the report this tunnel section near Zhuhai is the ‘dominant engineering feature’ of the bridge and the ‘first large immersed tunnel in open water in China’s history’.The tunnel - constructed at depths of up to 48 metres below sea level - took seven years to be completed and was developed by a joint venture led by China Communications Construction Co. Ltd. (CCCC). N.M.HotelUnwelcoming sharing economyLeading hotelier says it is impossible to wipe out illegal accommodation completely given the difficulty in regulating online home rental platforms Cecilia U cecilia.u@macaubusinessdaily.com“It is very difficult to regulate them, in my opinion; it is difficult for the government to completely crack down [on illegal accommodation],” said the president of the Macau Hoteliers & Innkeepers Association, Chan Chi Kit. Business Daily discovered that one of the popular Chinese short-term home rental sites - Xiaozhu.com - has some 52 listings in Macau, with the majority located in the NAPE area. The Director of Macao Government Tourism Office, Maria Helena de Senna Fernandes, reiterated last month that accommodation provided by online home rental sites such as Airbnb, is considered illegal given the current legal frame. According to the related clause, lawbreakers are subject to a penalty ranging from MOP200,000 (US$24,875) to MOP800,000, while tenants of illegallyoperated inns would be penalised MOP3,000.Not a threatDuring the recent Golden Week, tourists said that the 5-star Parisian Hotel Macao room price hit MOP2,000 per night, Business Daily reported previously. Chan said room prices during this year’s longer than usual National Day Golden Week had increased by 10 per cent year-on-year, but noted that the price was lower last year. He explained that the high room price during holidays depended upon the level of occupancy rate and that hotels’ price strategies differed. Asked whether illegal accommodation would impact the city’s hotel industry given the average price stood at around RMB460 during normal days, according to the listings prices on Xiaozhu.com, Chan said the high advertisementoccupancy rate of local hotels is a sign of no impact, while saying that there is still business for these unlicensed inns. “There are too many visitors coming, the [MSAR] Government is always doing something but are they able to crack down on all of them? I don’t think so,” said Chan. “Many Chinese tourists would be willing to live in these houses given the low prices.” Chan further said that on normal days some of the city’s 5-star hotels would provide great offers. “Like Sands - they are promoting MOP599 per person with two-way ferry tickets, so a room for two people meaning MOP1,200 and its 5-star hotels; for 2-star hotels they offer MOP500 to MOP600 per room,” the president pointed out. Meanwhile, with the recent release of the Macao Tourism Industry Development Master Plan estimating that visitor growth would at least reach 33 to 35 million by 2025, Chan said the growth of hotel room supply is faster than the growth in number of visitors thus “the competition within the hotel industry would get fiercer and the level of price movement would get narrower.”Legalising online home rentals“I think it would be very difficult for the government to legalise onlinehome rental sites,” said the hotelier, while adding that the government has a strong stance of not revising the legal system for hotel operation. Noting that there are several consortiums from Hong Kong who are interested in investing in the hostel business in Macau, the president said that the industry had previously discussed with the government about lowering the standard requirements in the clause to allow the operation of hostels. “They [the government] just don’t [want to lower the standards] . . . [with] all hotel rooms consisting of a maximum of two beds in one room and every room must have a window,” said Chan. In Mainland China, there are several home rental sites such as Tujia.com, Xiaozhu.com, Mayi.com and Muniao. com, with the transaction value reaching RMB8.78 billion in 2016, according to data gathered by iResearch based in Mainland China. Airbnb, the U.S.-based home rental online platform also stepped into the Chinese market in August 2015, focusing on the overseas travel market. “I think Macau has its own vision of tourism,” said Chan. “Meaning they won’t introduce [hostels or online home rental] just because other places have it.”EconomyAchieving positivityEstimates for Macau’s economic growth have been raised by the International Monetary Fund to 13.4 per cent this year and 7 per cent in 2018 The International Monetary Fund (IMF) has increased its estimates for the MSAR’s economic growth in 2017 and 2018 in its most recent World Economic Outlook report. After having estimated in April that Macau would see its real gross domestic product (GDP) grow by 2.8 per cent and 1.7 per cent for this year and next, the IMF considers now that the MSAR would register a 13.4 per cent growth this year and a 7 per cent increase in 2018. After seeing an inflation growth rate of 2.6 per cent in 2016, the report also believes the inflation rate in Macau would reach 1.5 per cent this year and go up to 2 per cent next year. In terms of global economic growth, the IMF raised it’s estimates for thisyear and next by 0.1 percentage points to 3.6 per cent and 3.7 per cent, respectively. The report considered that ‘notable pickups in investment, trade, and industrial production, coupled with stronger business and consumer confidence’ were supporting more positive growth predictions than earlier in the year to the ‘euro area, Japan, China, emerging Europe and Russia’. ‘After disappointing global growth over the past few years, this recent pickup provides an ideal window of opportunity for policymakers to undertake critical reforms to stave off downside risks, raise potential output, and improve living standards more broadly,’ the report indicated C.U.Business Daily Thursday, October 12 2017    3Macau Greater Bay AreaA certain uniqueness A recent study considers that the role the MSAR can take in the Greater Bay Area is linked to the development of special financial features, while further regional co-operation is essential in preventing extensive damage caused by natural disasters Nelson Moura nelson.moura@macaubusinessdaily.comIn order to provide a financial centre with special features that can contribute to the development of the Greater Bay Area, the MSAR Government should focus on establishing the announced RMB clearing centre for Portuguese-speaking countries and support the development of the private wealth management sector, according to a study released yesterday by the Macau Economic Association. “We can’t compete with Hong Kong as an international financial services centre. Therefore we want to develop a financial centre with special features that need to be defined clearly,” the Chairman of the Macau Economic Association and appointed legislator, Joey Lao Chi Ngai, said yesterday. Presented at a seminar held yesterday in co-operation with the Grand Thought Think Tank, the study by the Association sought to provide suggestions and comments on how the MSAR can contribute to better co-operation and development of the Greater Bay Area. Mr. Lao also believes the establishment in Macau of a US$1 billion (MOP8 billion) fund for financing projects between Portuguese-speaking countries and Mainland China could attract investment to Guangdong Province through the MSAR.Talk resolves everythingEnhanced co-operation in the GreaterOn behalf of the Chief Executive, the Secretary for Economy and Finance, Mr Leong Vai Tac, attends the opening ceremony of the seminar on the building of the Guangdong-Hong Kong-Macau Greater Bay Area and Macao's development. Source: GCSBay Area would also be essential to preventing the same level of destruction wrought by Typhoon Hato on August 23 and assure a steady supply of natural resources to the city. “We suggest the construction of the tidal barrier to reduce damage caused by natural disasters and in order to do it we need the help and co-operation of Guangdong Province. Without [co-operation] it’s impossible to build on their areas of management,” Mr. Lao added. The appointed legislator added that it would be “impossible” for Macau to be completely self-sustainable in terms of resources, so in order to prevent another shutdown after a natural disaster one of the main priorities ofthe MSAR Government should be to assure the supply of electricity, gas, water, food and other natural resources through co-operation with Guangdong Province and the Chinese central government. “We should have more backup channels to ensure the supply of energy. The issue of providing more land plots for energy stations is that then they won’t be able to be used for public housing or social facilities,” he added. A recent report by Public Housing Demand Research found that demand for public housing would reach 31,247 by 2021 while the government is capable of supplying 9,273 units in the same period.For Mr. Lao although the current land supply would not be able to meet demand in the next years, the long term development of reclaimed land and in Hengqin would provide a supply even superior to local demand. When asked how further inter-regional co-operation could help with the current housing issue in the city, Mr. Lao said neighbouring regions could provide more retirement areas for the local elderly population in the long term, while improving the purchasing power of residents. “Fostered economic development will diminish the wealth gap between residents in the Greater Bay Area,” he concluded. advertisement4    Business Daily Thursday, October 12 2017Macau OpinionMaritime affairsAshley Sutherland-Winch* Vanishing act Macau has seen its fair share of theatrical productions close with the most recent Studio City’s House of Magic. The fascinating world of Franz Harary, along with rotating illusionists from around the globe, opened in Autumn 2015 and just two short years later presented its final trick, the vanishing act. Whether the disappearing act be long or short term is anyone’s guess but it’s a strong reminder that as locals we must actively support entertainment in our city. MGM Cotai will soon be the next to try its luck with audiences in Macau with the casino’s grand opening set for early 2018. The new resort - constructed adjacent to the City of Dreams - will create a small live entertainment district for locals and tourists with both The House of Dancing Water and the new production across the street. Viva La Broadway offers a variety of acts on the opposite side of Cotai in the Galaxy resort property. Now with only three stationary competing live entertainment productions and short term Venetian plays, musicals, ballet and musical acts, it’s vital that as locals we promote the productions in our city to friends in town and visitors alike. The average life of a Broadway, West End or Las Vegas production can vary from weeks to years but the common denominator is a steady stream of patrons that love to see shows. It is not out of the ordinary for tourists to travel across the globe to see a specific show and while in Macau our tourists do not necessarily have the objective of watching live entertainment we can still do our part to encourage their patronage. This starts by actually purchasing tickets and attending shows. If tickets to shows become hot commodities tourists will strive to get their hands on them and our resident productions will be saved from possible closure. Millennials are setting the standard that they do not want to travel in large tour groups and make similar vacation choices of their parents. More and more, younger generations seek travel destinations that offer a wide variety of experiences and now with Macau’s entertainment options we can capitalise on this momentum. Regardless of personal interest, we should all make efforts to help sustain the arts community in Macau and not sit idly by as our shows close. *Marketing and Public Relations Consultant and frequent contributor to this newspaper.Sea dreams Heritage classification of the Lai Chi Vun shipyards area are in the pipeline following the recent release of the tourism Master Plan, with renewed hopes for developing the city’s waterscape and leisure maritime industry Sheyla Zandonai sheyla.zandonai@macaubusiness.comThe development of Coloane Village and its environs for tourism purposes has been inscribed in the Macao Tourism Industry Development Master Plan, announced on September 28, as a chapter in the ‘introduction of new tourism cultural spaces for residents and visitors.’. According to information provided to Business Daily by Macao Government Tourism Office (MGTO), the Lai Chi Vun area in Coloane, which includes the shipyards’ site and Rua dos Navegantes, has been earmarked as one of the ‘potential spots’ for development. Accordingly, the Office claims it will co-operate with the overall planning of both the Land, Public Works and Transport Bureau (DSSOPT) and the Cultural Affairs Bureau (IC) for ‘any future development of the area.’ No specific strategies have yet been presented. As president of the Lai Chi Vun Villagers Association, David Pinto Marques, explained to us, MGTO’s Master Plan only “mentions the Lai Chi Vun area a couple of times, so it is still unclear what the government agency is envisioning for the site.” He further remarked that the Association has not yet been contacted by the government regarding planning, but argued he would be in favour of an “increase” in tourism patronage if it is to be “slightly higher” than the current visitation volume to the site. MGTO currently claims it ‘has been giving support to local associations to organise tourism activities in Coloane,’ which include the Parade of Tam Kong Festival, Parade in Coloane, and Coloane Historic Half Day Tour. As for the Association’s expectations of the Master Plan, Mr. Marques explained they currently have “all their attention focused on the rebuilding ofthe area” after Typhoon Hato struck Macau on August 23. In the meantime, he pointed out that the government has been quite visible in the area, “reinforcing the shipyards’ structures” and “helping out residents with the building of fences and other common facilities in the area” to increase public safety.Heritage focusIn tandem with Mr. Marques’ comments, IC told Business Daily that it ‘continues to carry out the comprehensive reinforcement and cleaning works in the Lai Chi Vun shipyards area,’ after Typhoon Hato left a trail of destruction there. IC’s spokesperson added that the Bureau expects to complete the relevant works by the end of this month. The Bureau also noted that it is ‘actively preparing the relevant works’ to conduct the ‘heritage classification’ of the Lai Chi Vun shipyards area. ‘Currently, IC is engaged in the organisation and study of the structural components with preserving value, in order to prepare for the future revitalisation and showcasing of the local shipbuilding crafts,’ said the Bureau spokesperson. IC added that detailed planning of the area will be conducted once DSSOPT concludes the overall planning of the area.Plan it again, SARBusiness Daily contacted DSSOPT to enquire about its current ‘overall planning’ for Lai Chi Vun. A spokesperson for the Bureau told us on the phone that DSSOPT was not currently involved in the planning as referred to by MGTO and IC, requesting us to refer instead to a previous plan, dating from 2012, which is available for consultation on its website. The plan is the same Macau Business presented in a story published in May. One of its objectives comprised was highlighting the attractivenessof the coast and waterfront as well as the relationship between local inhabitants and tourism. Some of the plans’ highlights included valuing and promoting the shipyards industry and living history, preserving the area and its waterscape, as well as creating a workshop and exhibition space for ship construction.Open watersIn its reply to Business Daily, the Tourism Office added that it ‘supports industry partners' initiative to operate maritime tours around Macao Peninsula, Taipa and Coloane.’ The Office did not clarify, however, what types of support it was suggesting – subsidies or joint-ventures, for instance – despite further questions from us, as at the time this story went to print. A Macau-registered company which has been advocating developing the local recreational maritime segment is Macau Sailing, founded at the end of 2015, about the time the Macao SAR Government was granted administrative rights over territorial waters. Speaking to Business Daily, the head of operations for Macau Sailing – and one of the founders of the company - Henrique Silva - claimed that talks between the company and MGTO are still “ongoing.” “Now that the tourism Master Plan has been released, we believe that there is an effective intention on

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