THE M3: IMPORTED LABOUR; MORE ILLEGAL GALAXY WORKERS; CHANGI TRAFFIC; MALAYSIANS

The Macau Metro Monitor, November 26th, 2010


POLICY ADDRESS FOR ECONOMY AND FINANCE: IMPORTED LABOUR APPROVAL IN TWO MONTHS Macau Daily Times

Secretary Tam announced that to help local SMEs, the government has set a two-month deadline for 2011 for the approval of imported labour requests.  There will be no changes to its current imported labour policy.  Tam reiterated that the import of workers will only be approved after the local human resources are being “used properly”.  As of September 2010, some 4,100 skilled workers have obtained residency in Macau


PASSENGER TRAFFIC AT CHANGI UP 7.9% Strait Times

Changi airport handled 3.58 million passengers in October 2010.  October's 7.9% YoY increase is the slowest growth this year.

 

ILLEGAL WORKERS FOUND AT GALAXY MACAU'S SITE macaubusiness.com 

Macau authorities found 21 illegal workers during a raid on the Galaxy Macau construction site.


'END FREE CASINO TRIPS'  Strait Times

Tang Nai Soon, a Malaysian lawmaker, said in the state assembly that he wants S'pore casinos to stop offering free trips to Malaysians and to discourage them from gambling across the Johor-Singapore Causeway.  He thinks an entrance fee should be levied on Malaysians and a limit should be imposed on the number of trips. 


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In the past six months, U.S. stock indices are up between +12% and +18%.

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“If you saved in gold over the past 20 to 25 years rather than any currency anywhere in the world, gold has outperformed all these currencies,” says Stefan Wieler, Vice President of Goldmoney in this edition of Real Conversations.

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We remain long Exact Sciences in the Hedgeye Healthcare Position Monitor.

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People's Bank of China Spins China’s Bad-Loan Data

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UnderArmour: 'I Am Much More Bearish Than I Was 3 Hours Ago'

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Todd Jordan on Las Vegas Sands Earnings

"The quarter actually beat lowered expectations. Overall, the mass segment performed well although base mass lagging is a concern," writes Hedgeye Gaming, Lodging & Leisure analyst Todd Jordan on Las Vegas Sands.

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An Update on Defense Spending by Lt. Gen Emo Gardner

"Congress' FY17 omnibus appropriation will fully fund the Pentagon's original budget request plus $15B of its $30B supplemental request," writes Hedgeye Potomac Defense Policy analyst Lt. Gen Emerson "Emo" Gardner USMC Ret.

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