News

While observing school group visits, we have come to notice that many students from areas such as arts and economy also are interested in learning sciences and seek the opportunity to participate in the interactive workshops, in addition to the science students who quite enjoy attending our “brains-on, hands-on” activities. Therefore, the Communications Museum will organize 4 special workshops under the theme “Construction and Control of Direct Current Motor” to teach them about the construction of a direct current motor and the proper technique to control it. All secondary students of arts, economy and science are welcome to register for the workshops to be held on November 6 & 13, respectively.
…

According to statistics released today by the Monetary Authority of Macao, broad money supply continued to grow in August. The overall loan-to-deposit ratio bounced back slightly from a month earlier driven by the increase in nonresident loans.
Money supply
Currency in circulation dropped modestly by 0.1% whereas demand deposits increased by 0.8%. M1 thus rose 0.6% when compared with the previous month. Meanwhile, as quasi-monetary liabilities surged merely by 0.9%, M2 grew at a slower pace of 0.8%, amounting to MOP230.2 billion. On an annual basis, M1 and M2 rose 17.3% and 10.8% respectively. The share of Pataca (MOP) in M2 stood at 28.7%, up 0.6 percentage points over a month ago or 0.4 percentage points from a year earlier. Concurrently, the share of Hong Kong Dollar (HKD) in M2 was 53.9%, down 0.6 percentage points month-to-month or up 0.4 percentage points year-on-year.
Deposits
Resident deposits grew at a significantly slower pace. Their value increased by 0.9% from the previous month to MOP225.1 billion. Of which, MOP deposits and other foreign currency deposits increased at respective rates of 3.2% and 1.0%, while HKD deposits fell slightly by 0.3%. Concurrently, non-resident deposits dropped 1.0% to MOP71.5 billion whereas public sector deposits with the banking sector grew continuously by 5.9% to MOP20.0 billion. As a result, total deposits with the banking sector grew 0.7% from the previous month to MOP316.7 billion. The shares of MOP and HKD in total deposits were 24.3% and 46.0% respectively.
Loans
Domestic loans to the private sector were stable. Their value grew modestly by 0.1% on a monthly basis to MOP116.8 billion. Among which, MOP36.0 billion was MOP-denominated and MOP73.0 billion was denominated in HKD, representing 30.8% and 62.5% of the total respectively. Meanwhile, external loans increased 2.4% to MOP110.7 billion; of which, loans denominated in MOP and HKD accounted for 0.8% (MOP0.9 billion) and 41.2% (MOP45.6 billion) of the total respectively.
Loan-to-deposit ratios
As the growth pace of resident deposits (including public sector deposits) was faster than that of domestic loans to the private sector, the loan-to-deposit ratio for the resident sector at end-August 2010 contracted by 0.6 percentage points from a month ago to 47.7%. The ratio for both the resident and non-resident sectors was 71.9%, up 0.3 percentage points from the previous month.
…

(Macao—6 October 2010) The Chief Executive, Mr Chui Sai On, today inspected the old Northern district and collected opinions on improvement to the quality of life for the people there. Accompanied by the Secretary for Social Affairs and Culture, Mr Cheong U and the Chief-of-Cabinet of the Office of the Chief Executive, Mr Tam Chon Weng, Mr Chui firstly went to a housing estate situated in Areia Preta to inspect the illegal parking and hygiene problems in the area. Mr Chui also visited Iao Hon district where he was briefed on how drug addicts and prostitutes affected people living in that area. He also asked hawkers about their business. Afterwards, Mr Chui met with the district residents and heard their complaints and opinions on public health, security, transportation, imported labour and other issues. He told them that the Government would carefully study residents’ suggestions to improve the living conditions in the area. Mr Cheong U said in the meeting that the Government would spend more resources to revive the old Northern district, such as sponsoring the district to hold more festive celebrations. He told them the Government had plans to build five more health centres in the next 10 years to meet the needs of the people.
…

The Macau Grand Prix Committee (MGPC) held a press conference today (6 October) at the Fisherman’s Wharf Convention & Exhibition Centre, introducing this year’s Grand Prix and announcing the provisional entries for the headline races. Details of promotions and sponsor events were also announced. The conference was hosted by MGPC Co-ordinator João Manuel Costa Antunes. Committee members and sponsor representatives were present. The 57th Macau Grand Prix is scheduled for 18 to 21 November. The three headline races are the FIA Formula 3 Intercontinential Cup, the Macau Motorcycle Grand Prix – 44th Edition, and the FIA World Touring Car Championship – Guia Race of Macau, with five supporting races: The Macau GT Cup, Macau Road Sport Challenge, CTM Macau Touring Car Race, Hotel Fortuna MAC/HKG Interport Race, and Formula BMW Pacific. Every year Macau Grand Prix attracts drivers from Macau and across the globe to compete on the Guia Circuit. This year, 252 drivers from 35 countries and nations will join the Grand Prix, 55 of them from Macau. For the first time, the Macau Motorcycle Grand Prix is included in the 26-event Duke Road Race Rankings, the only series to recognise season-long performance on road circuits. Inclusion in the prestigious rankings is further recognition of the international status of the Grand Prix. (For more detail, please visit http://www.dukevideo.com/DukeRoadRaceRankings) The 57th Macau Grand Prix has a budget of MOP 140 million, and as always, enjoys the support of sponsors. In order to diversify Macau’s tourism offering, and strengthen the sports tourism field, the Macau Grand Prix Committee has worked with the Macau Government Tourist Office (MGTO) to design and implement a range of comprehensive marketing programmes. During last weekend’s National Day holiday, a two-day roadshow was held at Hong Kong’s Harbour City. Next week is the World Expo Macau Week, where Formula 3 and motorcycle racing machinery will be on display to promote the event to both residents of Mainland China and Expo visitors from around the world. In order to create a carnival atmosphere throughout the city, giant screens showing the event will be set up at Senado Square, Border Gate Square, Rotunda de Carlos da Maia, Rua do Cunha on Taipa, and at the Iao Hon Market Garden. During the Grand Prix, the 10th Macau Food Festival will be held at Sai Van Lake Square from 5th to 21th November, with fireworks displays scheduled for the 6th, 13th and 21st of November. In terms of infrastructure, as the Guia is a street circuit located in the centre of the city, this year the majority of the resurfacing work will be carried out at night or during weekends in order to minimise disruption. Tickets are on sale now, and range from MOP 50 for practice days, to MOP 900 at Lisboa Stand for race days. Interested parties should call the 24 hours booking hotline (+853) 2855 5555 for Macau, (+852) 2380 5083 for Hong Kong and (+86) 1392691111 for China. Tickets may also be ordered through the Kongseng Ticket Selling Network in Macau, Hong Kong or China. For more details, please visit the Macau Grand Prix Committee website http://www.macau.grandprix.gov.mo or http://www.macauticket.com.
…

The Government would strengthen its efforts in supporting disadvantaged groups and senior citizens, Chief Executive Mr Chui Sai On said today. The administration would do its utmost to support such groups, as this was the responsibility of the Government, he said. The Government would also enhance its services for senior citizens such as strengthening medical services for them in hospitals and medical centres in the community. As for kindergarten services, Mr Chui said the Government had recently revised regulations and the Social Welfare Bureau would increase services of kindergarten to meet the increasing demand. Mr Chui was speaking to reporters after visiting an elderly centre of Obra das Mães, a rehabilitation service centre of Caritas Macau and the Family Support Education Centre of Taipa operated, where he met the managements and frontline workers. The Secretary for Social Affairs and Culture, Mr Cheong U, the Chief-of-Cabinet of the Office of the Chief Executive, Mr Tam Chon Weng, and the President of Social Welfare Bureau, Mr Ip Peng Kin accompanied Mr Chui on the visits.
…

With the aim of ensuring stable development of banks’ residential mortgage lending, the Monetary Authority of Macao (“AMCM”), upon thorough consultation with the industry and taking into consideration the practical situation of Macao, established the “Guideline on Residential Mortgage Loans” (“Guideline”).
Today (5 October), the AMCM issued to banks the Guideline, which sets out the following major standards:
1. Loan-to-value ratio: This is generally referred to as the LTV ratio, and a maximum limit of 70% is set. However, for those properties with value less than or equal to 3.3 million patacas purchased by Macao residents (holders of Macao SAR Resident Identity Card), a higher LTV ratio of up to 90% may be offered, subject to a maximum loan amount of 2.31 million patacas. The value of the property concerned should be determined by the lesser of the actual acquisition cost to the borrower or the estimate of value made by the banks. 2. Debt servicing ratio: This is referred to as the ratio of monthly debt payment to monthly income of the borrower, and a maximum limit of 50% is set.
3. Maximum loan maturity: The maximum maturity for mortgage loans should not go beyond the retirement age of the borrower concerned. In addition, the Guideline requires banks to have in place appropriate internal control measures for the business, including those for prevention of concentration risk, prudent property valuation methods and internal audit functions. The Guideline will become effective on 1 December 2010. All mortgage loan applications received from that date onwards will be processed according to the aforementioned standards. The AMCM will, through its on-going supervision, ensure the effective compliance of banks with the requirements and standards of the Guideline.
…

From yesterday 5 p.m. until 5p.m. today (4) the Cross-departmental Working Team sealed one premise suspected to provide accommodation illegally. Since the law on "Prohibition of Providing Illegal Accommodation" took effect on August 13, a total of 590 premises were checked, of which 74 premises suspected to provide accommodation illegally were sealed, while 66 were normal residences. Ensuing investigations on the rest of the premises have been launched. Among the checked premises, some were vacant or unoccupied. Macau Government Tourist Office (MGTO) and the Public Security Police Force (PSP) will continue investigation on unanswered doors, which are suspected to be used to provide accommodation illegally. Meanwhile, during investigations to other cases, PSP has found four premises suspected to provide accommodation illegally and informed the Cross-departmental Working Team to handle the cases. To date, the operations involved more than 593 occupants, among whom 322 were occupants of premises suspected to provide accommodation illegally and were investigated, including 12 operators, 9 touts, 9 persons who manage the premises that provide accommodation illegally (management staff) and 4 occupants who failed to fulfill their duty of cooperation (among the three occupants who failed to fulfill their duty of cooperation, one has paid the fine). Among the occupants, there were 13 overstayers and 11 illegal immigrants. To help the investigations, when necessary, MGTO can request a judicial order to enter into the suspect premises to investigate. Following the raid to premises suspected to provide accommodation illegally, MGTO began sanction proceedings on involved operators, touts and managing staff, and adopted provisional measures to cut the supply of water and electricity to the concerned premises and sealed the doors. According to the new law, operators and person who manage the premise that provide accommodation illegally (management staff) incur a penalty up to 800 000 patacas, touts can be fined up to 100 000 patacas and occupants who fail to cooperate are fined 3 000 patacas. Public can also call 2833 3000 to report suspected premises. MGTO and Legal Affairs Bureau remind travelers that, according to the law on "Prohibition of Providing Illegal Accommodation", occupants found in premises suspected to provide accommodation illegally have the obligation to provide information or will be fined 3,000 patacas for violating the duty of cooperation. Occupants providing false information need to bear criminal responsibility. Non-residents who fail to pay the fine by due date might be denied reentry into Macau in the future.
…

A price check on beverage and canned food items has been conducted earlier (29th September) by Consumer Council. In comparison with last month’s survey, 6 canned food items are found to have a price decrease, among which “Ma Ling Premium Ham Luncheon Meat (340g)” is marked with a significant price drop. Prices of the remaining items remain stable, with only “Hong Mei Brand Ox Tail Soup (298g)” having a price increase of about 10 percent. Regarding the beverage items surveyed, an overall decrease in price is recorded when compared with the data collected in July and August. Many items are recorded with price drops of over 15 to 20 percent. Consumers are reminded that significant price differences are observed for the same items sold in different places, with a huge difference of almost 80 percent in selling price being observed in the price check. Consumers are therefore advised to check with the reports for the most updated prices in different retail stores to save time and money. The Council will continue to monitor local price trend of both beverages and canned foods. The above-mentioned reports are now available online at the Council’s official website (http://www.consumer.gov.mo). For enquiries, please call 8988 9315.
…

From yesterday 5 p.m. until 5p.m. today (October 3), the Cross-departmental Working Team sealed a premise suspected to provide accommodation illegally. The premise comprised 24 bedspaces and 9 occupants were found.
The premise, which comprised three rooms, offered 24 bedspaces. According to investigation and statement obtained on site, occupants paid about 60 patacas a day to rent a bedspace.
Since the law on "Prohibition of Providing Illegal Accommodation" took effect on August 13, a total of 579 premises were checked, of which 73 premises suspected to provide accommodation illegally were sealed, while 65 were normal residences. Ensuing investigations on the rest of the premises have been launched. Among the checked premises, some were vacant or unoccupied. Macau Government Tourist Office (MGTO) and the Public Security Police Force (PSP) will continue investigation on unanswered doors, which are suspected to be used to provide accommodation illegally. Meanwhile, during investigations to other cases, PSP has found four premises suspected to provide accommodation illegally and informed the Cross-departmental Working Team to handle the cases.
To help the investigations, when necessary, MGTO can request a judicial order to enter into the suspect premises to investigate.
To date, the operations involved more than 582 occupants, among whom 318 were occupants of premises suspected to provide accommodation illegally and were investigated, including 12 operators, 9 touts, 9 persons who manage the premises that provide accommodation illegally (management staff) and 4 occupants who failed to fulfill their duty of cooperation (among the three occupants who failed to fulfill their duty of cooperation, one has paid the fine). Among the occupants, there were 13 overstayers and 11 illegal immigrants.
Following the raid to premises suspected to provide accommodation illegally, MGTO began sanction proceedings on involved operators, touts and managing staff, and adopted provisional measures to cut the supply of water and electricity to the concerned premises and sealed the doors. According to the new law, operators and person who manage the premise that provide accommodation illegally (management staff) incur a penalty up to 800 000 patacas, touts can be fined up to 100 000 patacas and occupants who fail to cooperate are fined 3 000 patacas. Public can also call 2833 3000 to report suspected premises.
…

The Cross-departmental Working Team sealed two premises suspected to provide accommodation illegally on the first day of week-long National Day holiday. The water and electricity supply to one of the premises was found disconnected due to non-payment of such charges and candles suspected to be used for illumination were found on site. An illegal immigrant was also found in the premise and handed over to the police for investigation. Since the law on "Prohibition of Providing Illegal Accommodation" took effect on August 13, a total of 568 premises were checked, of which 72 premises suspected to provide accommodation illegally were sealed, while 64 were normal residences. Ensuing investigations on the rest of the premises have been launched. Among the checked premises, some were vacant or unoccupied. Macau Government Tourist Office (MGTO) and the Public Security Police Force (PSP) will continue investigation on unanswered doors, which are suspected to be used to provide accommodation illegally. Meanwhile, during investigations to other cases, PSP has found four premises suspected to provide accommodation illegally and informed the Cross-departmental Working Team to handle the cases. To help the investigations, when necessary, MGTO can request a judicial order to enter into the suspect premises to investigate. To date, the operations involved more than 571 occupants, among whom 309 were occupants of premises suspected to provide accommodation illegally and were investigated, including 12 operators, 9 touts, 9 persons who manage the premises that provide accommodation illegally (management staff) and 3 occupants who failed to fulfill their duty of cooperation (among the three occupants who failed to fulfill their duty of cooperation, one has paid the fine). Among the occupants, there were 13 overstayers and 11 illegal immigrants. Following the raid to premises suspected to provide accommodation illegally, MGTO began sanction proceedings on involved operators, touts and managing staff, and adopted provisional measures to cut the supply of water and electricity to the concerned premises and sealed the doors. According to the new law, operators and person who manage the premise that provide accommodation illegally (management staff) incur a penalty up to 800 000 patacas, touts can be fined up to 100 000 patacas and occupants who fail to cooperate are fined 3 000 patacas. Public can also call 2833 3000 to report suspected premises. MGTO and Legal Affairs Bureau remind travelers that, according to the law on "Prohibition of Providing Illegal Accommodation", occupants found in premises suspected to provide accommodation illegally have the obligation to provide information or will be fined 3,000 patacas for violating the duty of cooperation. Occupants providing false information need to bear criminal responsibility. Non-residents who fail to pay the fine by due date might be denied reentry into Macau in the future.
…