News

According to statistics released today by the Monetary Authority of Macao, new approvals of residential mortgage loans (RMLs) and commercial real estate loans (CRELs) declined in April 2014. With regard to outstanding balance, RMLs and CRELs both witnessed increases. New Lending Approved In April 2014, new RMLs approved by Macao banks dropped 0.3% month-to-month to MOP3.5 billion; of which, 97.1% was extended to residents. In terms of value, new RML to residents decreased 1.4% whereas those to non-residents increased 52.2%. When compared with the same period of 2013, new approvals of RMLs witnessed increase of 7.5%. New RMLs collateralised by uncompleted units (i.e. equitable mortgage) increased by 218.3% month-to-month to MOP368.7 million. The equitable mortgage extended to residents, which accounted for 98.0% of the total, increased 211.9%. When compared with the same period of 2013, new RMLs collateralised by uncompleted units expanded 180.5%. New CRELs dropped by 26.0% month-to-month to MOP7.0 billion; of which, 98.2% was granted to residents. In terms of value, new CRELs to residents increased 0.4% whereas those to non-residents decreased 95.1%. On an annual basis, new approvals of CRELs grew by 246.8%. Outstanding Balances As at end-April 2014, the outstanding value of RMLs reached MOP126.9 billion, an increase of 1.5% from one month earlier or 24.1% from a year ago. The resident component made up 95.2% of the total. Compared to end-March 2014, outstanding RMLs to residents and non-residents grew 1.3% and 4.6% respectively. Concurrently, the outstanding value of CRELs increased 4.4% from end-March 2014 and was up 32.6% from end-April 2013 to MOP99.8 billion. Residents accounted for 91.8% of the loans. Compared with one month earlier, outstanding CRELs to residents grew 4.8% whereas those to non-residents slid 0.7%. Delinquency Ratios At the end of April 2014, the delinquency ratio for RMLs remained unchanged at 0.07% or increased by 0.02 percentage points from a year ago. The ratio for CRELs increased to 0.07%, up 0.03 percentage points from a month ago or down 0.02 percentage points from end-April 2013.
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Delegations of Macao and the Philippines met on 17 and 18 June 2014 in Macao for air talks. The two delegations inked a new Memorandum of Understanding (MOU) on air transport to increase the Manila capacity to over 7,000 seats per week by each side, an increase of more than 50% compared to the old capacity entitlement. In accordance with the old MOU which was signed last year, the Manila capacity was 4,500 seats per week by each side; the capacity of the other destinations in the Philippines is not restricted. In view of the fact that the old capacity entitlement has been fully allocated and no seats can further be allocated if frequencies are to be increased, the two governments noted that there was a need to increase the capacity in order to cope with the increased demand in the future. They therefore met in Macao to hold a new round of talks and eventually renewed the MOU on 18 June 2014 which raises the Manila capacity to over 7,000 seats per week by each side. Aiming at the direction of open skies policies, both parties will gradually lift the Manila capacity restrictions to enhance the air transport development in order that the tourism, trade and exchange of people between the two places can be further developed. Presently, there are air services between Macao, Manila and Clark. The Manila services are operated by Cebu Pacific Air, Philippines Airlines and Air Asia Zest with a total of 19 upcoming frequencies per week; the Clark services are operated by Cebu Pacific Air with 4 frequencies per week. The air talks were held in the office of the Civil Aviation Authority of Macao SAR (AACM). The new MOU was signed by the President of AACM, Mr. Chan Weng Hong and the Undersecretary of Department of Transportation and Communications of the Philippines, Mr. Jose Perpetuo M. Lotilla. The two delegations were composed of representatives from (Macao side) AACM, (Philippines side) Department of Transportation and Communications, Department of Tourism, Department of Trade and Industry, Civil Aeronautics Board, Civil Aviation Authority of the Philippines and Consulate General of the Philippines in Macao. The industry operators of both sides also attended the discussions as observers.
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Consumer Council conducted its fifth 'Supermarket price survey' in June on 17 June for the implementation of Section 2b), Article 10, Law 4/95/M of 12 June. Surveyed locations included supermarkets at Lam Mau, Patane and San Kio areas in Santo António Parish. 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. With reference to the local six parishes and the number of supermarkets in each parish, the Council has divided around 100 supermarkets into 8 areas for price collection. The Council collects prices from these supermarkets for the provision of a more comprehensive database for consumers to check price discrepancies and make price comparisons according to their desired locations. For inquiry, please call 8988 9315.
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The crossword puzzle organized by Consumer Council to celebrate 'World Consumer Rights Day' has ended. The list of 50 winners is now available on the Council's website. To celebrate 'World Consumer Rights Day' on 15 March, and to promote consumer rights and the service of Consumer Arbitration Center, the Council organized a crossword puzzle for consumers to participate from 15 March to 14 April. 50 winners have already been drawn from all the entrants with correct answers. Each winner is awarded with MOP200 and the list of winner is now available on the website of the Council (www.consumer.gov.mo). Winners may claim their prize before 31 October. As the crossword puzzle received overwhelming response, Consumer Council has decided to continue the game in its monthly magazine Consumer Report, crossword puzzle questions will also be updated regularly. Details of the new crossword puzzle and prizes will be announced soon. The above article can be downloaded at http://www.consumer.gov.mo/c/ccnews.asp
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The Monetary Authority of Macao ("AMCM") has recently received enquiries in relation to transacting Bitcoin in Macao and noted the relevant media coverage. In such connection, the AMCM would like to call for caution against engagement in Bitcoin-related transactions: 1.Bitcoin is a type of virtual commodity which is neither a legal tender nor a financial instrument subject to supervision of the AMCM; 2.Supervision of financial activities is regulated by the "Macao Financial System Act" approved by Decree Law No. 32/93/M of 5 July, under which any commercial entities other than authorized financial institutions are prohibited from using the words, expressions or any other terms having or implying the idea of operating the business of a credit institution, including "ATM", in the course of their business; 3.Trading of virtual commodities such as Bitcoin involves considerable risks, including but not limited to those relating to money laundering and terrorist financing, against which all participants, including the general public, should remain vigilant.
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The Cultural Affairs Bureau (IC) is launching the 2014 Subsidy Programme for Fashion Design on Sample Making at the end of the current month. Eligible applicants will have access to subsidies, up to a maximum of MOP150,000 each, for sample production, promotional materials and application for exhibition of selected entries. The maximum quota of the Subsidy Programme is eight persons (groups) and the application period extends from 24 June to 22 August 2014. IC has launched the Subsidy Programme for Fashion Design on Sample Making in 2013, as part of the Subsidy Programme for Macao's Cultural and Creative Industries Series. This programme seeks to encourage local fashion design and creativity, prompt fashion designers to formulate feasible and optimised business plans, encourage the industry to be involved in commercial activities or participate in local and international fashion marketing activities, enhance the popularity and market competiveness of the local industry and advance the sustainable development of the local fashion design industry. The 2013 Subsidy Programme has attracted many applicants engaged in fashion design and entrepreneurs interested in this area, arousing an enthusiastic response. It has also played a proactive role in the local fashion design industry. For these reasons, IC will continue to hold the Subsidy Programme for Fashion Design on Sample Making this year. Applicants can apply on an individual or group (max. two persons) basis by submitting entries and application forms with relevant supporting documents. They must hold a valid Macao S.A.R. Resident Identity Card and be 18 years old or above. The selection is divided into two stages: initial review and second review. For the initial review, applicants must submit fashion design drawings of their unpublished, original fashion design entries together with the completed application form, including information about the business plan and relevant budgeting and expenditure items. The adjudicating panel will select a maximum of 15 entries for the second review based on six criteria: creativity and originality, market potential, quality, overall visual effects, optimisation of the business plan and the rationale of planning and budgeting. Applicants selected for the second review will be granted an allowance to produce a fashion sample based on the flat drawings submitted for the initial review, and present it to the adjudicating panel by a model of their choice. Upon completion of the second review, the adjudicating panel will, according to the aforementioned criteria, select a maximum of eight applicants eligible for subsidy up to a maximum of MOP150,000 each, covering the costs for the entire series of the selected entries such as production, materials, promotional materials, application for exhibitions and postage. The Programme's information, application rules and forms can be downloaded from the Cultural Affairs Bureau website (www.icm.gov.mo/dpicc/sps) and from the Macao Cultural and Creative Industries website (www.macaucci.com). Applicants should submit all required documents to: Cultural Affairs Bureau—Department for the Promotion of Cultural and Creative Industries (Av. da Praia Grande, No. 567, Edif. BNU, 12th floor A-D, Macao) during office hours. Interested applicants should pay attention to this year's Subsidy Programme content and details as the requirement for application documents and entries differ from last year. For enquiries, please contact Ms. Lam or Ms. Lau through tel. (853) 2892 4040, during office hours.
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Organised by the Cultural Affairs Bureau (IC), the 25th Macao Arts Festival (MAF) has come to a close, following over a month of more than 30 acts and more than 200 performances, exhibitions, and outreach activities, including workshops and master classes, among many others. Well received by audiences from home and abroad, with ticket sales figures nearing 90%, the Festival counted with the support of the community, achieving great success.
For this edition, IC organised for the first time a press conference in Guangdong, establishing partnerships with local media outlets, such as a programme exchange with Music FM Radio Guangdong, the establishment of an official Macao Arts Festival Weibo account, etc, thereby introducing the Festival to a broader audience, promoting direct participation and exchanges with the public and heightening the event's prestige in Mainland China. The MAF counted with the support of the Macao Government Tourist Office, TDM – Teledifusão de Macau, Air Macau and MGM Macau, all of which contributed to a variety of promotional activities and to widely advertise the Festival's Silver Jubilee. Furthermore, in order to commemorate the Silver Jubilee, IC purposely planned and produced the "Macao Arts Festival Silver Jubilee Commemorative Documentary", which allows viewers to revisit the Festival's wonderful history and classical moments of the past and to witness the transformation of the MAF into one of the main cultural events of the region.
Themes 'Impulse', this year's Festival continues to establish as goals the 'promotion of local artistic development, the promotion of Chinese culture and the dissemination of the world's outstanding creations', giving audiences the chance to access a variety of outstanding productions from all over the globe while favouring and promoting the development of local arts. Local shows comprised more than half of the Festival's programme, including the Macao Arts Festival Silver Jubilee Opening Concert and the MAF's closing performance A Dream of Light. Produced and performed by local talents, both shows carried a special meaning. The opening concert took place at Tap Seac Square and was viewed by more than 1500 people, while A Dream of Light took place from May 31 to June 8, in a total of 17 performances, attracting thousands of spectators.
The MAF went a step further in promoting the arts within different communities and social groups, in order to nourish life through art, specially designing over 40 outreach activities, including master classes, workshops, seminars and post-show sharing sessions, among others, which attracted the participation of over 2000 people. The Festival, with the cooperation of the Social Welfare Bureau, also took underprivileged groups to watch three performances of the puppet show Special Creatures. In addition, the Macao Annual Visual Arts Exhibition 2014 – Western Media Category and the exhibition "Collotype • Recurrence, Spatial Convergence of John Thomson and Wong Ho Sang" were very well received and will run until mid and end of August, respectively.
The Macao Arts Festival is an important annual cultural event. As such, ticket sales for a number of acts neared 90%, including: Venetians Want to Get a House, a play by Macao Experimental Theatre; contemporary dance show Revival; the concert Reminiscence of the Classics, by the Macao Chinese Orchestra; the patuá play Vivo na Únde?(Dream Home), by local drama group Dóci Papiaçam di Macau; Dancing to the Sound of Naamyam, a dance co-production by choreographer Mui Cheuk Yin, dancer Xing Liang and Naamyam master Au Kuan Cheong; Animare, by Shadow Play Theatre Kakashiza, from Japan; the concert Viva Mozart by local ensemble Macao Virtuosi; the play The Importance of Being Earnest by Singaporean company W!ld Rice; puppet show Special Creatures by Argentinean Roberto White; "Adapting for Distortion followed by Haptic" by Hiroaki Umeda; multimedia play by Canadian Robert Lepage The Andersen Project; the play Murder in San Jose by local group Theatre Farmers; the entertaining and enchanting play Imagine Toi, by French clown and mime artist Julien Cottereau; Beauty Fades from the Twelve Ladies' Bower, by the Collective of Macao Cantonese Opera Artists; The Legend of Li Qingzhao, by the Foshan Cantonese Opera Troupe in cooperation with outstanding local talents; children's play Rain of Stone, Song of the Sea by local group Step Out; the play Cloning Ecstasy by local Dirks Theatre Arts Association; and the play Eighteen Springs by Zuni Icosahedron from Hong Kong, among others. Due to high ticket demand, additional performances were organised for the shows Venetians Want to Get a House, Dancing to the Sound of Naamyam, Animare, The Importance of Being Earnest, Special Creatures, Murder in San Jose, Beauty Fades from the Twelve Ladies' Bower, "Rain of Stone, Song of the Sea" and Eighteen Springs.
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Consumer Council conducted its fourth 'Supermarket price survey' in June on 13 June for the implementation of Section 2b), Article 10, Law 4/95/M of 12 June. Surveyed locations included supermarkets near Horte e Costa, Avenida do Ouvidor Arriaga and Rua da Emenda areas in Santo António Parish. 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. With reference to the local six parishes and the number of supermarkets in each parish, the Council has divided around 100 supermarkets into 8 areas for price collection. The Council collects prices from these supermarkets for the provision of a more comprehensive database for consumers to check price discrepancies and make price comparisons according to their desired locations. For inquiry, please call 8988 9315.
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The Monetary Authority of Macao announced today that the preliminary estimate of Macao SAR's foreign exchange reserves amounted to MOP122.7 billion (USD15.37 billion) at the end of May 2014. The reserves rebounded by 2.0% from the revised value of MOP120.3 billion (USD15.07 billion) for the previous month. Macao SAR's foreign exchange reserves at end-May 2014 represented 13 times the currency in circulation or 108.6% of Pataca M2 at end-April 2014. The trade-weighted effective exchange rate index for the pataca, a gauge of the domestic currency's exchange rates against the currencies of Macao's major trading partners, increased 0.14 points month-to-month but dropped 1.14 points year-on-year to 97.25 in May 2014.
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Following the lifting of the curfew in Thailand's travel hot spots and as per information provided by the Macao tourism industry, Thailand tour groups departing before 16th of June will remain canceled, while some travel agencies will re-launch Thailand tour packages after the said date, with earliest possible departure date by 24th of June. GGCT reminds Macau residents who plan to go to Thailand to remain vigilant of local security developments, comply with the relevant provisions of the curfew, plan their itineraries accordingly and strengthen security precautions. To date, GGCT has received 35 inquiries but no requests for assistance. If necessary, Macao residents can call the 24-hour tourism hotline (853) 2833 3000 or contact the Chinese Embassy and consulates for assistance: 24-Hour consular protection hotlines of the Embassy: 085-483-3327, Consulate General in Khon Kaen: 080-936-6070, Consulate General in Songkha: 081-766-5560 and Consulate General in Chiang Mai: 081-882-3283.
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