THE M3: VISAS; MGM LOAN; S'PORE INFLATION

The Macau Metro Monitor, August 23, 2012

MAINLAND VISAS TO MACAU MADE EASIER Macau Business

The Ministry of Public Security has announced an easing on restrictions on travel to Macau by people living in six big mainland cities--Beijing, Chongqing, Guangzhou, Shanghai, Shenzhen or Tianjin.  Those permanent residents of those cities will be able to get visas for travel to Macau, Hong Kong or foreign countries.  The president of the Macau Travel Industry Council, Andy Wu Keng Kuong said the easier visas could mean more visitors to Macau.

MGM LOAN ATTRACTS 12 BANK COMMITMENTS Macau Business

The US$1.5 billion (MOP12 billion) loan currently in syndication for MGM China Holdings Ltd has attracted commitments from 12 banks.  The commitments reach just over US$1.4 billion, said the source.  MGM China is eyeing to close syndication of the facility by month-end  The proceeds will be used by MGM China to repay debt.  The company is offering to pay a margin of 250 basis points over Libor on a leverage ratio of four times or more.

SINGAPORE INFLATION SLOWS AS SCOPE FOR MONETARY EASING RISES Bloomberg

S'pore CPI rose 4% YoY.  The median estimate of 18 economists in a Bloomberg News survey was for a 4.5% increase, after a +5.3% pace reported earlier for June.  The July core inflation rate was 2.4%.  Singapore trimmed its prediction for 2012 expansion this month and said the island’s growth outlook “remains cautious,” increasing pressure on the Monetary Authority of Singapore to join central banks from China to the Philippines in adding stimulus.