THE MACAU METRO MONITOR, AUGUST 12, 2013
CAESARS SELLS $438MM MACAU GOLF COURSE TO PEARL DYNASTY Bloomberg, Reuters
Caesars Entertainment has agreed to sell a golf course in Macau to Pearl Dynasty Investment Ltd for $438 million, effectively giving up obtaining casino operating rights in Macau. CZR expects net proceeds of about $420 million from the disposal, which it will use to fund capex or buy back debt, it said in a filing. CZR expects the completion of the sale to Pearl Dynasty to be completed in the fourth quarter.
NEW RULES SOON ON PUBLIC OFFICERS WHO FREQUENT CASINOS Channel News Asia
Public officers who visit the casinos in Singapore frequently or buy annual casino entry levy will soon need to declare these actions. Deputy Prime Minister Teo Chee Hean, who is also Minister-in-charge of the Civil Service, announced this in Parliament as he spoke about the integrity of the public service amid a spate of recent lapses.
Former assistant director at the Corrupt Practices Investigation Bureau (CPIB), Edwin Yeo, was charged last month with criminal breach of trust involving S$1.7 million. Part of the money he allegedly misappropriated was used for gambling at the Marina Bay Sands casino in Singapore.
GUANGDONG CONFIRMS HUMAN H7N9 INFECTION CASE Xinhua
A human infection with the H7N9 strain of avian influenza was confirmed in south China's Guangdong Province, Guangdong's health department said Saturday. Sample of a 51-year-old woman surnamed Chen tested positive for the H7N9 virus at the Chinese Center for Disease Control and Prevention on Saturday, confirming the results of tests conducted by the Guangdong provincial center for disease control and prevention on Friday. Chen is in critical condition.
In July, the Chinese mainland reported a single H7N9 avian flu case in which a patient from north China's Hebei Province was diagnosed in Beijing, bringing the total number of infections on the mainland to 133. Of the cases, 44 have ended in death, according to the the National Health and Family Planning Commission.
CHINESE OFFICIALS SPENDING ARE CLOSELY MONITORED Xinhua
Chinese Premier Li Keqiang ‘s policy on major measures to reduce government spending has been effectively implemented and will further intensify supervision and investigate problems related to the implementation of the regulation. Spending by central government departments has dropped 1.6% YoY since the implementation of the policy.
SINGAPORE'S ECONOMY GROWS 3.8% ON-YEAR IN Q2 Channel News Asia
According to The Ministry of Trade and Industry (MTI), Singapore's economy grew by 3.8% YoY in 2Q 2013. It is the strongest growth in three years and a hefty improvement from the 0.2% growth recorded in 1Q 2013. As reported earlier, the ministry had upgraded the GDP forecast for 2013 from 1% to 3%, to 2.5% to 3.5%.