News

Mainland's gold medalists from the London Olympics are scheduled to arrive in Macao tomorrow for a three-day visit. The 70-strong delegation will be led by the Director of the State General Administration of Sports and President of the Chinese Olympic Committee, Mr Liu Peng, and his deputy, Mr Duan Shijie. It comprise 21 coaches and officials, and 47 gold medalists from 13 sports, namely shooting, fencing, sailing, weightlifting, boxing, taekwondo, walk, swimming, diving, artistic gymnastics, trampoline, table tennis and badminton. The Chief Executive, Mr Chui Sai On, is scheduled to meet the heads of the delegation tomorrow afternoon and host a banquet for the delegation afterwards, on behalf of the Government. On Monday morning, members of the delegation will share their thoughts with Macao athletes and students when they meet face-to-face at Macau Forum. At 7 pm residents get the chance to meet the Olympians at Tap Seac Multisport Pavilion during a celebratory gathering organised by the Government. The show will be produced by China Central Television (CCTV) and broadcast live by Teledifusao de Macau (TDM). Highlights will be broadcast to the whole nation on CCTV-3 at 8 pm on 1st September. The gold medalists are to visit Macao's world heritage and other main attractions before returning to Beijing on Tuesday morning. At the London Olympics, Mainland's contingent won 88 medals -- 38 gold, 27 silver and 23 bronze, and broke six world records and six Olympic records.
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Information from the Statistics and Census Service indicated that a total of 234 MICE events were held in the second quarter of 2012, a drop of 26 events over 2011, of which 201 events were held in paid venue. Total number of participants and attendees went up by 8% to 130,016. There were 8 exhibitions held in the second quarter, attracting 112,702 attendees, while the other 226 meetings and conferences had 17,314 participants in the same quarter. In accordance with the information collected from 6 exhibition organisers interviewed, a total of 5 were repeated exhibitions that had previously held in Macao in 2011. In respect of the major reasons of selecting Macao as exhibition destination, expanding local market and business operation in Macao took up 66.7% and 33.3% respectively. Moreover, the 6 exhibitions attracted 483 exhibitors and 10,276 professional buyers. Revenue of the exhibitions in the second quarter amounted to MOP21.61 million, down by 6% year-on-year, mostly from Rental of Exhibition Booth (94% of total). Expenditure dropped substantially by 79% year-on-year to MOP7.14 million, with expenses on Rental of Venue; and Advertising, Promotion & Public Relations accounted for 37% and 35% of the total respectively. Information from 45 exhibitors interviewed showed that revenue of them went up by 41% year-on-year to MOP4.43 million, with the majority coming from Sales of Products. Expenses amounted to MOP3.24 million, with expenses on Rental of Exhibition Booth accounted for 68%. There were 505 MICE events held in the first half year of 2012, down by 32 events year-on-year. Total number of participants and attendees increased by 17% to 291,797, among which 219,176 attendees were attracted by the 20 exhibitions. In the first half year of 2012, revenue and expenditure of exhibition organisers amounted to MOP28.55 million and MOP31.79 million respectively. For the interviewed exhibitors, revenue and expenditure were MOP19.99 million and MOP5.50 million.
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The working group on food prices released the latest 'Supermarket Price Survey' dated 20th August. In comparison with last month's data, prices of over half of the surveyed items remained stable or recorded light decrease in prices. In comparison with July's data, prices of 100 out of over 310 items recorded this month remained unchanged while 98 items recorded light decrease in prices, which amounted to about 62 percent of the total number of surveyed products; 118 items recorded increase in prices. Price decreases were mainly recorded in categories such as snacks, sanitary and hygienic products, survey result also showed that the percentage increase and decrease of prices recorded were generally less than 5 percent. Among the top ten products with the most price differences, prices of 'Johnson's Baby Powder (500g)', which was sold at $14.5 to $32.9 in different retail outlets, varied for over 126 percent; 'Watsons Water Pure Distilled (430ml)', which was sold at $2.8 to $4.9, also differed for about 75 percent. Consumers are advised to check with the information available on Macao Consumer Council's 'Supermarket Price Information Platform'. This month's survey also showed that general price differences existed in some of the items sold in different branches of the same supermarket chain. Prices of 'Camponês Olive Oil (1L)' in San Miu Supermarket R. dos Mercadores branch and Pou Seng branch differed for $7.0; 'Lea & Perrins Worcestershire Sauce (290ml)' sold in Rua Areia Preta and Edf. La Baie Du Noble branches of Park'N Shop also varied for $4.9. The latest 'Supermarket Price Survey' is now available on Consumer Council's website (www.consumer.gov.mo), and the 'Supermarket Price Information Platform' iPhone and Android apps. The survey is also available free of charge at the offices of Consumer Council, IACM's Iao Hon and S. Domingos Markets, bookstores and libraries. Consumers may also access the resources through WAP channels on their mobile phones.
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According to statistics released today by the Monetary Authority of Macao, new SME lending approved by Macao banks dropped in the first half of 2012. Concurrently, the utilisation of SME credit in proportion to the credit limit approved by banks recorded a slight contraction. New Lending Approved In the first half of 2012, new SME credit limit approved by Macao banks totalled MOP7.0 billion, down by 58.8% from the second half year of 2011 or 36.1% from the same period last year. The collateralised ratio, which indicates the proportion of credit limit with tangible assets pledged, was 60.4%, down 0.3 percentage points when compared with the last survey period but up by 6.7 percentage points when compared with the same period of 2011. Credit Utilisation As at end-June 2012, the outstanding value of total SME loans dropped 7.3% from end-December 2011 but up 1.8% from a year earlier to MOP31.2 billion. When compared with end-December 2011, SME loans to "electricity, gas and water" and "education" increased at respective rates of 92.0% and 44.2%, whereas those to "transport, warehouse and communications", "non-monetary financial institutions" and "wholesale and retail trade" dropped 72.5%, 19.0% and 18.6% respectively. The utilisation rate, defined as the proportion of outstanding credit balance to the credit limit granted, dropped slightly by 0.6 percentage points from six months ago to 59.2%. Delinquent Loans At the end of June 2012, the outstanding balance of delinquent SME loans decreased by 16.8% from six months ago to MOP428.5 million. Compared to a year ago, the balance dropped slightly by 0.4%. The delinquency ratio, a ratio of delinquent loans outstanding balance to total SME loans outstanding, dropped 0.16 percentage points from end-2011 or 0.03 percentage points from a year earlier to 1.37%.
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The new academic year of 2012/13 began with a warm welcome of 425 students joining the IFT family. To mark the commencement of this semester and to gain a better understanding of the tourism industry, the Institute has the honour to invite Ms. Helena Fernandes, Acting Director of Macau Government Tourist Office (MGTO) to introduce the development of Macao's tourism industry and discuss professional attributes leading to a successful career.
Ms. Helena Fernandes enlightened the freshmen with information including current development of the industry, visitation projections, tourists' profiles, MGTO's promotion strategy, and upcoming MICE activities, etc. Students were set on a good start and expected to make good use of these information in their studies.
Dr. Fanny Vong, President of IFT purposely reiterated the importance of fostering high standard of personal qualities throughout students' studies in IFT. Tourism and services industry is a people-oriented business, full of 'human touch points', required individuals with self-cultivation, positive attitude, proper grooming and attire, professional ethics and 'just right' services to create memorable experience to customers. IFT has always focused on nurturing students within these parameters to prepare them for future challenges in this dynamic industry.
The event ended with an interactive Q&A session with guest speakers, where students enthusiastically asked macro questions regarding the future of Macao's tourism industry, Macao SAR Government's strategy in further developing the tourism and gaming industry, as well as personal questions like career planning and choices.
IFT regularly invites well-known scholars, industry leaders and managers to host seminars or to share their experiences with students, bringing best practices and updated trends of the industry to the study environment.
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2012/13 IFT Degree Programme Student Orientation Ceremony was held on the 23rd August with the presence of IFT academic team, degree programme freshmen and exchange students. President of IFT, Dr. Fanny Vong presented her warmest welcome to the new comers during the ceremony. Dr. Vong expressed that the 425 new students should well equipped themselves in these 4 years of study and be ready for the rapid development of Macao and the neighbouring regions. In order to nurture industry professionals with international sight, IFT is always focusing on internationalisation from internship programmes, exchange programmes and to academic staff qualifications, etc.. Dr. Vong also hoped that students could use their creative minds to analyze future development trends, grab opportunities and face challenges. In last semester, PATA Macau Student Chapter was established with IFT students being the chairlady and the core members. IFT looks forward to the establishment of Student Chapter in strengthening student cooperation among local higher institutions, encouraging youngsters to speak out their creative opinion and nurturing future tourism professionals. Besides, a charity event, held by IFT students last year, putting together over 20,000 postcards to shape Macau's scenery and famous sightseeing spots, not only had successfully raised funds for charities, but also was awarded the Guinness world record. Dr. Vong wished that students could continue to unit and help each other, participate in charity actively and serve the community.
Applications for academic year 2012/13 degree programmes was satisfactory, the number has exceeded 6 times of the intake number, implying that young generation in Macao is looking forward to the future development of tourism industry. During the ceremony, the Institute also announced and presented Scholarship, Dean's List and the Extra-curricular Activity Award to students as an encouragement, hoping that they can actively involve in extra-curricular activities in their spare time besides study. Being one of the public high institutes in Macao, IFT will continue cultivating professionals for tourism industry, offering more dynamic courses to cope with Macao's rapid development and growing together with students and Macao.
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The Statistics and Census Service (DSEC) released results of the Survey on Manpower Needs and Wages of the Gaming Sector for the second quarter of 2012. Survey coverage excluded junket promoters and junket associates. At the end of the second quarter of 2012, the Gaming Sector had 52,789 employees, up by 11.6% year-on-year. By occupation 23,144 were dealers, up by 11.2% year-on-year; 14,424 were hard & soft count clerks, cage cashiers, pit bosses, casino floorpersons, betting service operators, etc., up by 15.2%. In June 2012, average earnings (excluding bonuses and allowances) of full-time employees stood at MOP17,740, up by 7.8% year-on-year, of which average earnings of dealers increased by 8.6% over June 2011 to MOP15,810 and that of hard & soft count clerks, cage cashiers, pit bosses, casino floorpersons, betting service operators, etc. rose by 5.8% to MOP21,600. Average earnings of casino & slot machine attendants, security guards, surveillance room operators, etc. amounted to MOP11,990, up by 13.5% year-on-year. At the end of the second quarter of 2012, number of job vacancies totalled 1,821, down by 321 year-on-year. Vacancies for dealers stood at 787, while 366 were for hard & soft count clerks, cage cashiers, pit bosses, casino floorpersons, betting service operators, etc., down by 1.6% and 52.0% respectively. In terms of recruitment prerequisites, 50.7% of the vacancies required working experience; 62.3% required junior secondary education or lower and 18.6% required senior secondary education. Besides Cantonese, other preferred language skills were Mandarin (84.0%) and English (63.3%). In the second quarter of 2012, 4,278 new employees were hired, lower than the 5,182 recruits in the fourth quarter of 2011, bringing the employee recruitment rate down by 2.4 percentage points to 8.4%; at the same time, the employee turnover rate (5.9%) and job vacancy rate (3.4%) fell by 0.7 and 1.0 percentage point respectively, indicating a slowdown in the demand of human resources.
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The Monetary Authority of Macao (AMCM) releases today the preliminary balance of payments (BOP) of Macao SAR for the reference year 2011. The BOP is a statistical statement that summarises external transactions of an economy with the rest of the world. In 2011, Macao recorded an overall BOP surplus of MOP81.6 billion. Among the major components, the current account registered a surplus of MOP136.0 billion. The capital account had a net outflow of MOP1.1 billion and financial non-reserve assets showed a net decrease of MOP9.9 billion. Merchandise imports, valued at f.o.b., surged by 36.0% in 2011, reflecting buoyant local consumption and increased visitor spending. Meanwhile, merchandise exports grew by 6.3% after four consecutive years of contraction. With the notable rise in imports and a relatively mild increase in exports, the merchandise trade deficit went up from MOP44.1 billion in 2010 to MOP62.5 billion in 2011. On the other hand, strong exports of travel services drove the surplus in the services account up from MOP169.7 billion to MOP235.8 billion. The income account, which reflects cross-border flows of factor income, recorded a net outflow of MOP33.0 billion in 2011, considerably higher than the net outflow of MOP23.0 billion recorded in the previous year. This stemmed mainly from the increase in income earned by foreign direct investors in Macao. Current transfers, which include mainly inflows and outflows of workers' remittances as well as donations received/made by local social service organisations with respect to the rest of the world, recorded a net outflow of MOP4.3 billion, representing a decrease of MOP1.6 billion from 2010. With the large invisible trade surplus offsetting the deficit in merchandise trade as well as net outflows of factor income and current transfers, the current account surplus reached MOP136.0 billion, up markedly by MOP39.4 billion from the revised surplus of MOP96.7 billion in 2010. Flows in the capital account reversed from a net inflow of MOP0.2 billion in 2010 to a net outflow of MOP1.1 billion in 2011. Net financial non-reserve assets registered a net inflow of MOP9.9 billion, compared to a net outflow of MOP10.0 billion in 2010. Of which, net inflows of direct investment decreased from MOP30.4 billion in 2010 to MOP16.5 billion in 2011 while portfolio investment recorded a net outflow of MOP15.1 billion, up from MOP6.7 billion in 2010. Concurrently, other investment shifted to a net inflow of MOP8.9 billion in 2011 from a net outflow of MOP33.7 billion in 2010. Net outflow of financial derivatives amounted to MOP350.7 million, up from MOP64.7 million recorded in the previous year. Reserve assets in the BOP records the net change in foreign currency assets (excluding the SAR Reserve Fund) held by the Monetary Authority of Macao. In 2011, reserve assets, after price, exchange rate and other adjustments, went up by MOP81.6 billion, as compared to an increase of MOP41.3 billion in 2010. Macao's BOP statistics are compiled in accordance with the International Monetary Fund's Balance of Payments Manual, Fifth Edition. The current release incorporates preliminary estimates of key statistics, and a detailed report with revised data will be published in December 2012.
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Information from the Statistics and Census Service (DSEC) indicated that visitor arrivals decreased by 4.2% year-on-year to 2,444,264 in July 2012; same-day visitors (1,196,291) accounted for 48.9% of the total. The average length of stay of visitors stood at 1.0 day, down by 0.1 day year-on-year, with the overnight and same-day visitors staying 1.8 days and 0.2 day respectively. Analysed by place of residence, visitors from Mainland China decreased slightly by 0.3% year-on-year to 1,456,351, coming mostly from Guangdong Province (683,285), Fujian Province (70,439) and Zhejiang Province (56,937); Mainland visitors travelling under the Individual Visit Scheme rose by 4.1% to 643,147. Visitors from the Republic of Korea (36,030) and Japan (35,132) increased by 2.0% and 20.1% year-on-year respectively, while those from Hong Kong (639,580) and Taiwan, China (112,263) both registered a decrease of 11.1%. Long-haul visitors from the Americas (25,648), Europe (19,085) and Oceania (9,209) also decreased by 7.5%, 7.6% and 9.4% respectively. In the first seven months of 2012, visitor arrivals totalled 16,021,978 but the rate of increase narrowed to 1.4% year-on-year. Visitors from Mainland China (9,567,563), the Republic of Korea (250,815) and Japan (241,265) increased by 7.1%, 8.7% and 15.6% respectively. On the contrary, visitors from Hong Kong (4,113,909) and Taiwan, China (613,654) decreased by 7.4% and 15.5% respectively.
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According to the statistics released today by the Monetary Authority of Macao, the proportion of international business in the local banking sector contracted slightly in the second quarter of 2012. At end-June 2012, the share of international assets in total banking assets dropped to 83.3% from 84.1% at end-March 2012, while the share of international liabilities in total banking liabilities shrank to 80.2% from 80.8%. Foreign currencies were the dominant denomination in international banking transactions. At end-June 2012, the shares of Pataca (MOP) in total international assets and total international liabilities were 0.4% and 1.7% respectively. Hong Kong Dollar (HKD) and Other Foreign Currencies (OFCs) accounted for 37.5% and 62.2% of total international assets as well as 45.2% and 53.0% of total international liabilities respectively. International Banking Assets
At end-June 2012, total international assets went up by 2.1% from a quarter earlier or 13.2% from a year ago to MOP610.9 billion (USD76.4 billion). Within this total, external assets and local assets in foreign currencies expanded year-on-year by 13.6% to MOP467.3 billion and 11.9% to MOP143.6 billion respectively. As a major component of international assets, external loans & deposits increased by 12.5% to MOP437.0 billion. In particular, cross-border non-bank loans expanded by 27.1%. International Banking Liabilities
Total international liabilities advanced by 2.4% from three months ago or 17.8% year-on-year to MOP587.9 billion (USD73.6 billion). Of this total, external liabilities and local liabilities in foreign currencies grew year-on-year by 14.8% to MOP316.3 billion and 21.5% to MOP271.6 billion respectively. Foreign currency deposits held by residents continued to form a major component of international liabilities. This type of deposits grew by 20.5% to MOP250.0 billion at end-June 2012 from MOP207.5 billion at end-June 2011. Concurrently, overseas non-bank deposits increased by 36.6%. Breakdown of External Banking Assets and Liabilities by Region
The majority of external assets and liabilities were related to the regions of Asia and Europe. At end-June 2012, claims on Hong Kong and Mainland China occupied 33.7% and 27.1% of total external assets respectively, while claims on Portugal and Luxembourg took up 10.3% and 2.6% correspondingly. On external liabilities, Hong Kong and Japan accounted for 43.5% and 12.5% of the total respectively while France and Portugal took up respective shares of 5.0% and 2.5%. The compilation of International Banking Statistics follows the methodology advocated by the Bank for International Settlements in order to facilitate Macao SAR's participation in the "Locational International Banking Statistics" project of the international organisation.
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