The fund has a duration of 12 years, with Leong explaining that after seven years, it will recalculate the average investment return rate per annum.
Business
The airport’s total income rose 9.6 percent to MOP 4.95 billion last year. CAM’s total income reached MOP 1.4 billion, up 5.5 percent, according to the statement.
Gross casino gaming revenues in Macau rose by 22.2% in March to 25.950 billion patacas (US$3.244 billion), according to the Macau Games Inspection and Coordination Bureau (DICJ).
A transport firm run by the daughter of Macau casino kingpin Stanley Ho Hung-sun looks set to be the biggest winner when the Hong Kong-Zhuhai-Macau bridge opens, after her company won the exclusive rights to run shuttle buses across the multibillion-dollar link, according to the South China Morning Post (SCMP) today.
The state-owned Agricultural Bank of China (AgBank or ABC), one of the nation’s “Big Four” banks as well as one of the largest banks in the world, opened a branch in Macau Wednesday.
Macau’s electricity utility CEM announced Wednesday a net profit of 793 million patacas for last year, a year-on-year increase of 6.3 percent.
CTM CEO Vandy Poon Fuk Hei said Wednesday that his company would start tests on its 5G network by the end of this year, and that it would be able to launch 5G at the same pace as the mainland and Hong Kong.
Macau’s water utility SAAM – commercially known as Macao Water – reported Tuesday an after-tax profit of 77.5 million patacas for last year, a year-on-year increase of about 20 percent.
Macau’s economy is expected to expand at an average of 4.9% per year in 2018/2019, supported by the upswing in the gaming industry, according to the Economist Intelligence Unit (EIU) in its latest report on the territory, where it also said that the government’s efforts to diversify the economy should have very limited success.