The Macau Metro Monitor, June 23, 2011
GALAXY MAY RECOUP INVESTMENT WITHIN 6 YEARS Macau Daily Times, Macau Business, Intelligence Macau
Galaxy CFO Robert Drake said it expects annual returns of 14-19% at Galaxy Macau and may recoup its HK$ 15.5BN (US$ 2BN) investment in Galaxy Macau within 6 years. Yesterday, Galaxy Chairman Lui Che-woo estimated Galaxy's market share at 17%.
IM believes that Phase 2 of Galaxy Macau could be completed before Macau Studio City and Lots 5 & 6 come online in 2013.
TAIWAN LIFTS HISTORIC BAN ON SOLO TOURISTS Macau Daily Times
Taiwan has lifted a decades-old ban on travel to the island by individual Chinese tourists. Initially, Taiwan will allow 500 individual arrivals from the mainland per day. Chinese visitors would act as “peace ambassadors" to Taiwan.
Travel between the island and mainland stopped at the end of the civil war in 1949, and mainland tourists have so far only been allowed to visit Taiwan in groups due to official concerns they might otherwise overstay their visas and work illegally.
MAY 2011 VISITOR ARRIVALS DSEC
Visitor arrivals totaled 2,295,551 in May 2011, up by 9.4% YoY. In the first five months of 2011, visitor arrivals increased by 7.2% YoY to 11,065,180. Visitors from Mainland China increased by 16.8% YoY to 1,326,627 in May 2011, and the majority came from Guangdong Province, Fujian Province and Zhejiang Province. Mainland visitors traveling to Macau under the Individual Visit Scheme totaled 531,167, up by 18.0% YoY.
SINGAPORE'S MAY CPI UP 4.5% ON-YEAR Channel News Asia
Singapore May CPI increased by 4.5% YoY and 0.6% MoM. The MAS (Monetary Authority of Singapore) core inflation measure, which excludes the costs of accommodation and private road transport, rose 2.1% YoY and 0.1% MoM.