THE M3: JULY CHINA LENDING DROPS; GSS; PAGCOR; FILIPINO TOURISTS

The Macau Metro Monitor, August 11th, 2010


CHINA'S NEW LENDING DROPS TO 532.8 BLN YUAN IN JULY Xinhua

According to the PBOC, new yuan-denominated lending in July fell to 532.8 billion (US$ 78.6 billion) from 603.4 billion yuan in June.  The first seven months brought 5.16 trillion yuan in loans, compared with 7.73 trillion yuan during the same period last year.

 

M2 supply increased 17.6% YoY to 67.41 trillion yuan by the end of July, slowing down from the 18.5% growth in June.

M1 supply climbed 22.9% in July, a decrease of 1.7% points from June's.  The Chinese government fixed this year's target for new loans at 7.5 trillion yuan. 


GSS SPENDING UP: MASTERCARD Strait Times

According to Mastercard, spending during The Great Singapore Sale (May 28-July 25) jumped 28% YoY to US$893.2 million.

 

PAGCOR CHAIR DOUBTS $10-B OFFER; KUOK DENIES REPORTS Inquirer

PAGCOR chairman Naguiat does not believe Ramon Ang's offer of $10 billion is serious.  “They’re not even industry players,” Naguiat said of Malaysia’s Robert Kuok, Ananda Krishnan and Francis Yeoh, three of the richest men in Southeast Asia.  Naguiat noted that while Kuok owned the renowned Shangri-la chain of luxury hotels, none of them had a casino. 

 

A spokesperson for Kuok in Manila, Joy Wassmer, denied reports that the Malaysian tycoon was interested in PAGCOR.  Wassmer said that Kuok had never been involved in the gaming business and had “no intention of investing in the gaming industry in the future.”


FILIPINO TOURIST ARRIVALS IN MACAU CONTINUE TO GROW Sun Star

Narzalina Lim, general manager of Macau Government Tourism Office-Philippines, said that Filipino tourists continue to visit Macau because of its accessibility and affordability with two Philippine-based airlines -- PAL and Cebu Pacific -- offering direct flights to Macau from Manila and Clark, at the same time offering cheap promotional packages.  With the implementation of the "open skies" policy, which will be announced soon by the Aquino administration, she believes more Filipinos are expected to visit Macau, particularly travelers from Davao Region and its nearby provinces.


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