The Macau Metro Monitor, October 12, 2012
SANDS WELCOMED 1.19 MILLION VISITORS DURING GOLDEN WEEK Macau Business
Sands China welcomed 1.19 million visitors during Golden Week, a 39% increase YoY. Occupancy was 100%.
SINGAPORE FORGOES CURRENCY STIMULUS ON INFLATION RISK: ECONOMY Bloomberg, Channel News Asia
S'pore GDP in 3Q fell 1.5% QoQ in-line with a Bloomberg News Survey estimate of -1.6%. On a YoY basis, the economy grew 1.3%. The Trade Ministry maintained their stance of a modest and gradual appreciation of the local dollar. “For the rest of the year, growth could be weighed down by the subdued global economic conditions. Expansion in transport engineering and construction will help counter the impact of a slowdown in advanced economies on manufacturing and wholesale trade, and the Singapore economy “remains on track” to grow by 1.5% to 2.5% this year, said the Trade Ministry.
GOVT IS WATCHING SOCIAL EFFECTS OF IRS Strait Times
Prime Minister Lee Hsien Loong said his government is still "watching anxiously" the social effects of the integrated resorts in Singapore, even as the resorts have proven successful in terms of business, government revenue and urban planning. "From a social point of view, we would like to say that it has been alright, but it is early to say, because the casinos have been operating only for two years and a half." Lee noted that the share of Singaporean casino-goers has stabilized at 1/4, "which is about what we have expected". The total amount of gambling has stayed about the same after the casinos opened, but the amount of compulsive gambling - "the very extreme cases" - has increased slightly, he added.
CHINA SEPTEMBER NEW YUAN LOANS CNY623.2B; ANALYSTS EXPECTED CNY665B WSJ