The Macau Metro Monitor, April 26th, 2010
SANDS CHINA STOCK BUYBACK Hong Kong Stock Exchange
Sands China Ltd. will seek shareholder approval for an Equity Buyback at its Annual General Meeting to be held on June 19, 2010. Under the program, the company will repurchase 10% of its issued share capital.
LAND AUCTION CLOSE macaubusiness.com
Secretary for Transport and Public Works Lau Si announced that there will be an open land auction, 30,000 square foot parcel, and industrial building revitalisation measures to increase the supply of small to medium sized residential units. The winning bidder will be allowed to construct more than 500 small to medium sized residential units, which are little bigger than the economic housing standards. The government is also wants to promote rebuilding old, single-ownership industrial buildings for residential use.
PROTECTING LOCAL WORKERS macaubusiness.com
CEO Chui says the government will “unswervingly” uphold the employment rights of Macau workers and come down “heavily” on illegal workers and their employers under the newly created Law on Employment of Non-Resident Workers. Officials will continue to make laws and regulations to further regulate the ratio between local and imported workers, and the withdrawal of imported labor and set up supervisory groups, Chui said.