THE M3: PRICE WAR; MORE CHINA PROPERTY CONTROLS; LOWER GAMING EMPLOYMENT; INFLATION; PROPERTY; MBS

The Macau Metro Monitor, September 27th 2010

 

PRICE WAR COULD STRAIN JUNKET RELATIONSHIPS Intelligence Macau

IM believes the junket price war could potentially have a negative impact on Wynn.  But IM doesn't think Wynn will raise junket commissions; instead, Wynn may start raising rebates to direct VIP players.

 

CHINA ANNOUNCES RULES TO CURB LAND HOARDING AFP, Bloomberg

The Ministry of Land and Resources and Ministry of Housing and Urban-Rural Development said in a joint statement that developers will be banned from bidding for more properties if they have idle land for more than a year, illegally transferred land, or developed land in breach of agreements. Further tightening land controls is “an important task in continuing to contain home-price gains and promoting a reasonable correction in housing and land prices", they added.


EMPLOYMENT SURVEY FOR JUNE - AUGUST 2010 DSEC

Although the employed population increased by about 600 in the June-August period vs. May-July, employment of the Gaming Sector registered a decrease.  Unemployment rate for June-August 2010 remained unchanged from the previous period (May-July 2010) at 2.9%.  Number of the unemployed decreased by about 200 from the previous period to 9,400

INFLATION RATE TO CONTINUE "RELATIVELY HIGH": FRANCIS TAM macaubusiness.com

Secretary Tam expects inflation to remain “relatively high” through the second half of 2010.  “The government will keep an eye [on the inflation problem] and it will set up measures to alleviate the pressure on citizens,” Mr Tam said.  He said there are several external factors that will likely keep pushing the inflation rate up, like the exchange rate between the pataca and the yuan.

MACAU GOVERNMENT TO ANNOUNCE NEW MEASURES FOR PROPERTY MARKET THIS WEEK macaubusiness.com

Secretary for Transport and Public Works, Lau Si Lo, will announce curbing measures on the private property market including new mortgage lending rules, changes in the taxation model and in land usage policy, and draft regulation on property agencies and the pre-construction sale and purchase of real-estate units.


MARINA BAY SANDS REDUCES PARKING RATES FROM $8 TO $6 PER HOUR AsiaOne News

A spokesperson for the Marina Bay Sands attributed the reduction in rates to increased availability of parking spaces.