THE M3: HSBC ALSO LEAVES MGM IPO; CHANGI TRAFFIC; CHINESE PROPERTY TAX TRIAL

The Macau Metro Monitor, July 22nd, 2010


HSBC NO LONGER ON MGM MIRAGE IPO IFR Asia

HSBC is no longer a joint global coordinator for the planned Hong Kong IPO of MGM Mirage, having pulled out of a

US$850m loan for the gaming firm’s Macau unit, according to a source familiar with the deal.


CHANGI AIRPORT'S H1 PASSENGER COUNT UP 17% Channel News Asia

In June, ~3.6 million passengers passed through Changi airport, YoY growth of 19%.  In the 1st half of 2010, Changi Airport saw traffic increase 17% YoY to 20.2 million.

CHINA PLAN TO START IMPLEMENTING PROPERTY TAX TRIAL IN 2012, OFFICIAL SAYS Bloomberg

According to a report on 163.com, a Netease website, China's finance ministry plans to start implementing a property tax in 2012 on a trial basis.  Shanghai and Chongqing have already drawn up plans for a property tax.  Chongqing Mayor Huang Qifan said the city wants to impose a 1% levy on homes that are three times the average market price.