The Macau Metro Monitor, May 25th, 2010
SANDS CHINA AWARDS $120 MLN DEAL TO BUILDERS FOR MACAU RESORT Reuters, Intelligence Macau
Sands China said in a statement that it had awarded more than 20 contracts, total worth more than MOP1BN (US$120 MM), to contractors working on sites 5 and 6. Sands reiterated that the construction project would create 10,000 direct jobs and another 10,000 indirect jobs. According to IM, the MOP1BN only represent 5% of the budget allocated to lots 5 & 6. In addition, IM believes that, until the government has approved Sands' foreign labor quotas, it is difficult to believe that sites 5 and 6 will open by 3Q 2011.
VISITOR ARRIVALS UP 20.4% TO RECORD 938,000 IN APRIL Channel NewsAsia
This figure is the highest ever recorded for April according to STB. Visitors from Thailand increased by 57.5%, while visitors from Malaysia and India grew 50.8% and 30.8%, respectively. Singapore's top five visitor-generating markets in April were Indonesia (with 163,000 visitors), China (92,000), Malaysia (77,000), India (73,000) and Australia (70,000).
MAINLANDS PUSH VISITOR ARRIVALS Intelligence Macau
Foreign visitors--ex. HK and Mainland--continue to grow. According to IM, Japanese and Korean visitors account disproportionately for a large percentage of direct-VIP gamers. Also, the Macau government has tried to promote Indian visitation by giving incentives to Indian airlines to fly direct.
IM also noted that mainland visitors under IVS would pass through Hong Kong, thus implying a reduction in shopping expenditure in Macau.
GOVT'S CUP FLOWETH OVER Intelligence Macau
IM is not worried about the latest drop in government spending since social pressures, infrastructure projects such as those on the light rail and the Taipa ferry terminal, and the added benefit of a ballooning surplus will boost spending.
TOUGHER RULES ON HOLD Xinhuanet
Due to lower home sales in large and mid-sized cities, the National Development and Reform Commission (NDRC) does not see tougher rules on the Chinese property market in the near future.