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The Coordinated Portfolio Investment Survey (CPIS), jointly conducted by the Monetary Authority of Macao (AMCM) and the Statistics and Census Service (DSEC), is aimed at collecting information on investment by Macao residents in securities issued by unrelated non-residents, in terms of market value and geographical distribution. The results of CPIS for the reference year 2009 are summarised as follows: Investment of Macao residents in securities witnessed a notable increase due to a significant improvement in investment sentiment in financial instruments and an upsurge in asset prices. On 31 December 2009, investment of Macao residents (including individuals, the government and other legal entities but excluding Macao’s foreign exchange reserves) in securities issued by unrelated non-residents amounted to MOP116.3 billion, up markedly by 41.6% from a revised MOP82.2 billion at end-2008, a record high value since the inception of this survey in 2002. Of this total, equity securities, long-term debt securities and short-term debt securities were valued at MOP61.1 billion, MOP49.9 billion and MOP5.3 billion respectively. In comparison with the previous year, the investment in equity securities, of which mutual funds/investment trusts amounted to MOP13.6 billion, soared by 96.9%. Investment in long-term debt securities rose by a relatively modest 15.1% whereas that in short-term debt securities fell by 31.7%. In terms of geographical distribution, the investment in securities issued by Hong Kong entities accounted for the largest share, at 20.2% of the total market value of Macao residents’ portfolio investment abroad. The rest was mainly invested in Mainland China, the United Kingdom, the United States, the Cayman Islands, Australia, the Netherlands, France and Luxembourg. The market value of investment in securities issued by Hong Kong entities reached MOP23.5 billion, a marked increase of 74.5% or MOP10.0 billion from end-2008. This amount consisted of MOP14.4 billion in equity securities, MOP7.3 billion in long-term debt securities and MOP1.8 billion in short-term debt securities, constituting 23.6%, 14.5% and 34.6% of the respective total. The share of investment in securities issued by Mainland Chinese entities (including those listed in non-Mainland exchanges) rose by 3.5 percentage points from a year earlier to 17.5%. The corresponding market value surged by 77.4% to MOP20.4 billion, of which the investment in equity securities rose by a hefty 96.6% to MOP18.6 billion, accounting for the largest share in the respective securities category, at 30.5%. The share of investment in European securities dropped by 3.6 percentage points from a year earlier to 29.6% but the corresponding market value rose by 26.2%. In particular, equity investment in the United Kingdom and Luxembourg registered significant increases. Among the European countries, the United Kingdom continued to assume the largest share in the total securities investment (8.8%), with a market value of MOP10.3 billion at end-2009. Meanwhile, Macao residents’ investment in securities issued by entities in France also rose whereas investment in German securities dropped. The share of US securities held by Macao residents dipped by 3.4 percentage points from 2008 to 7.7%, and the corresponding market value fell slightly by 1.5% to MOP9.0 billion at end-2009. The investment in long-term US debt securities was valued at MOP6.9 billion, representing the second largest share in the respective securities category after Hong Kong. The market value of Macao residents’ portfolio investment in Latin America soared by 70.9% at end-2009 mainly attributed to a notable 120.6% increase in the portfolio investment in the Cayman Islands. Meanwhile, although the investment in securities issued by Australian entities grew by 8.8% year-on-year, the share of Oceanian securities contracted from 6.5% at end-2008 to 5.0%.
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Information from the Statistics and Census Service (DSEC) indicated that the value of total merchandise export for June 2010 decreased by 3.7% year-on-year to MOP596 million, with value of domestic exports falling by 24.3% to MOP202 million, but that of re-exports rising by 11.9% to MOP394 million. The value of total merchandise import amounted to MOP3.68 billion, up by 28.7% year-on-year. A trade deficit of MOP3.08 billion was recorded for June 2010. In the second quarter of 2010, total value of merchandise export (MOP1.80 billion) dropped by 4.2% year-on-year, but that of merchandise import (MOP10.62 billion) rose by 22.5%, resulting in a trade deficit of MOP8.82 billion. In the first half year of 2010, total value of merchandise export fell by 7.1% year-on-year to MOP3.62 billion, of which the value of domestic exports declined by 33.2%, but that of re-exports expanded by 12.8%; meanwhile, total value of merchandise import grew by 20.9% to MOP20.48 billion. The trade deficit for the first half year of 2010 widened by 29.3% year-on-year to MOP16.86 billion; the exports/imports ratio went down by 5.3 percentage points year-on-year to 17.7%. Analyzed by destination of exports, value of merchandise export to Hong Kong (MOP1.64 billion) and Mainland China (MOP585 million) in the first half year of 2010 increased by 18.9% and 0.6% respectively year-on-year, while that to the USA (MOP385 million) and the EU (MOP201 million) decreased substantially by 52.6% and 47.1% respectively. Exports of Textile & garment amounted to MOP770 million, down by 48.9% year-on-year to account for 21.2% of the total merchandise export; however, value of Non-textile exports (MOP2.85 billion) grew by 19.3%, with that of Copper & articles thereof and Clocks & watches rising notably by 103.4% and 100.8% respectively. Regarding the country of origin of imported goods, in the first half year of 2010, value of merchandise import from Mainland China (MOP6.30 billion) and the EU (MOP4.44 billion) expanded by 20.4% and 25.1% respectively year-on-year. The value of imports of Consumer goods rose by 40.4% year-on-year, with that of Motor cars & motorcycles growing significantly by 122.6%; nevertheless, the value of imports of Capital goods and Raw materials & semi-manufactures fell by 11.8% and 1.3% respectively. In the first half year of 2010, total value of merchandise import and export amounted to MOP24.10 billion, up by 15.7% compared with MOP20.84 billion in the first half year of 2009.
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Information from the Statistics and Census Service (DSEC) indicated that the value of total merchandise export for June 2010 decreased by 3.7% year-on-year to MOP596 million, with value of domestic exports falling by 24.3% to MOP202 million, but that of re-exports rising by 11.9% to MOP394 million. The value of total merchandise import amounted to MOP3.68 billion, up by 28.7% year-on-year. A trade deficit of MOP3.08 billion was recorded for June 2010. In the second quarter of 2010, total value of merchandise export (MOP1.80 billion) dropped by 4.2% year-on-year, but that of merchandise import (MOP10.62 billion) rose by 22.5%, resulting in a trade deficit of MOP8.82 billion. In the first half year of 2010, total value of merchandise export fell by 7.1% year-on-year to MOP3.62 billion, of which the value of domestic exports declined by 33.2%, but that of re-exports expanded by 12.8%; meanwhile, total value of merchandise import grew by 20.9% to MOP20.48 billion. The trade deficit for the first half year of 2010 widened by 29.3% year-on-year to MOP16.86 billion; the exports/imports ratio went down by 5.3 percentage points year-on-year to 17.7%. Analyzed by destination of exports, value of merchandise export to Hong Kong (MOP1.64 billion) and Mainland China (MOP585 million) in the first half year of 2010 increased by 18.9% and 0.6% respectively year-on-year, while that to the USA (MOP385 million) and the EU (MOP201 million) decreased substantially by 52.6% and 47.1% respectively. Exports of Textile & garment amounted to MOP770 million, down by 48.9% year-on-year to account for 21.2% of the total merchandise export; however, value of Non-textile exports (MOP2.85 billion) grew by 19.3%, with that of Copper & articles thereof and Clocks & watches rising notably by 103.4% and 100.8% respectively. Regarding the country of origin of imported goods, in the first half year of 2010, value of merchandise import from Mainland China (MOP6.30 billion) and the EU (MOP4.44 billion) expanded by 20.4% and 25.1% respectively year-on-year. The value of imports of Consumer goods rose by 40.4% year-on-year, with that of Motor cars & motorcycles growing significantly by 122.6%; nevertheless, the value of imports of Capital goods and Raw materials & semi-manufactures fell by 11.8% and 1.3% respectively. In the first half year of 2010, total value of merchandise import and export amounted to MOP24.10 billion, up by 15.7% compared with MOP20.84 billion in the first half year of 2009.
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Information from the Statistics and Census Service (DSEC) indicated that the average daily wage of construction workers was MOP507 in the second quarter of 2010, down by 4.2% quarter-to-quarter. The average daily wage of skilled & semi-skilled workers (MOP537) fell by 5.1%, of which plant operators (MOP667), scaffolders (MOP643), concreters and drain layers (MOP640) and levellers (MOP637) were earning higher average wages; meanwhile, the average daily wage of unskilled workers (MOP340) registered an increase of 8.6%. After discounting the effect of inflation, the wage index of construction workers for the second quarter of 2010 was 93.2 in real terms, down by 1.6% over the previous quarter. As regards construction materials, the average price of spiral and round reinforcing steel bars increased by 15.5% quarter-to-quarter to MOP4,882 per tonne, and that of Portland cement rose by 4.5% to MOP653 per tonne; however, the average price of concrete registered a decrease of 2.2% to MOP308 per cubic metre. In the second quarter of 2010, the price index of construction materials for residential buildings rose by 4.5% quarter-to-quarter to 138.3; in particular, the price indices of steel and timber increased by 14.9% and 1.9% respectively, while the price indices of aluminium and concrete went down by 2.4% and 1.9%. Compared with the same quarter of 2009, the price index of construction materials for residential buildings registered an increase of 14.0%.
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Macau Government Tourist Office (MGTO) launched the “Meet in Macau” corporate networking lunch and mini mart in Malaysia and Singapore last week to arouse local MICE planners’ interest to boost more business into Macau.
A delegation of 20 business tourism officials and trade representatives from Macau presented the latest MICE development and stimulation plans of the city to over 80 and 110 local corporate and trade representatives at the corporate networking lunch, followed by a seminar and mini mart held in Kuala Lumpur and Singapore respectively on July 20 and 22. This is the fourth consecutive year MGTO organized the annual event to promote Macau’s MICE business in Malaysia and Singapore. The promotional activities of MGTO held in the two markets aim to network and update key MICE planners, travel agents, corporate clients and airline partners about the latest tourism developments and incentive programmes in Macau, while encouraging more international companies to choose the Macau as their desired MICE destinations in Asia. Mr. Licénio da Cunha, Head of Product and Special Projects Department of MGTO, in his opening remarks at the corporate networking lunch in Kuala Lumpur said, “Macau has developed itself into an increasingly popular destination for companies and corporations worldwide, as an ideal location to stage important meetings, rewarding incentive programmes, large conferences and public exhibitions.”
He further expressed that Macau does not just provide for holiday makers and vacationers, but also for the professional and executive crowd, “Macau will enchant and surprise everyone with its grand array of hotels, venues and facilities that make it a convenient, affordable and wondrous destination for corporate parties and events.”
Feedback from both guests and Macau trade partners indicated that the event was both useful and informative. The MGTO representative office in Malaysia and Singapore also had an influx of enquiries from meeting planners after the event. On the occasion, an outdoor campaign named “Macau – The Right Mix of Business & Leisure” was launched at the Raffles Place Park by the MGTO Representative Office in Singapore from July 19 to 22, to echo with the “Meet in Macau” session. Attention-grabbing images were displayed at the lawn area while information flyers about “MICE in Macau” were distributed, with an attached survey coupon for readers to complete in exchange for a Macau souvenir.
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The annual emergency safety exercise at the heliport was carried out on the 26 July night to 27 July early morning at the Outer Harbour Ferry Terminal. The exercise simulated the rescue work done according to the respective emergency plan by the concerned parties in response to a helicopter accident, which was participated by 9 government bodies and operators. The drill was deemed smooth with its goal achieved. Originally planned on 20 July but postponed due to tropical storm "CHANTHU", the exercise took place at 23:00 yesterday to 01:00 this early morning and was organized in accordance with the work schedule approved in the beginning of this year by the Facilitation and Security Committee. The scenario simulated a helicopter accident occurring upon landing at the helipad at the Outer Harbour Ferry Terminal. A fire was caused. Three passengers on board sustained injuries to different degrees. Immediately after the accident has occurred, the concerned parties activated the Heliport Emergency Plan and dedicated themselves into rescue and evacuation work. Coordinated by Civil Aviation Authority and organized by East Asia Airlines, the exercise involved the participation of Customs Services, Public Security Police Force, Fire Services Bureau, Maritime Administration, Civil Aviation Authority, East Asia Airlines, Sociedade do Turismo e Diversoes de Macau and so on. More than 80 participants played a part in the drill which aims at testing the effectiveness of the Heliport Emergency Plan and assessing the capacity of the rescue personnel in responding to contingencies so that improvements can be made for further enhancing the coordination, cooperation and communication between all involved entities.
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There are 270 investors in Macao who bought Octave Notes with an investment of MOP 119 million in total, of which, MOP 1.07 million and 17.76 million came from the affected series 21 and 22 respectively. Up to 26 July 2010, Monetary Authority of Macao (AMCM) has received 27 complaints, involving a total investment amount of MOP 15.78 million for the affected series 21 and 22. After receiving the complaints about Octave Notes, AMCM has, pursuant to current policies and guidelines on handling complaints (http://www.amcm.gov.mo/pledge/Pledge.htm), requested the distributing banks to follow up, respond to complainants and submit to AMCM investigation reports with their findings and other relevant information. At the same time, apart from its own follow-up and investigation, AMCM maintains close contact with overseas regulators handling similar cases, exchanges views on handling process and progress. In addition, meetings with the distributing banks have been held and the banks have been requested to follow up the cases seriously. In the recent meeting held on 19 July 2010, the distributing banks indicated that they would speed up the process with reference to the way adopted by the banks concerned in neighbouring regions. AMCM established in 2004 supervisory requirements for selling of financial investment products by financial institutions, which call for clear disclosure of the particulars, features and inherent risks of the products, understanding of customers’ financial status, investment experience and purpose of investment to ensure that the investors have adequate knowledge in assessing risks and returns of the products, setting up effective internal control and risk management systems, and taking measures to ensure that the front-line sales staff have adequate experience, capability and qualification. In view of the Lehman Brothers incident, AMCM has drafted the “Guideline on the Provision and Distribution of Financial Products” which is to be promulgated soon for implementation as the necessary consultation is just closed. The distributing banks have reviewed their sales policies, procedures and the practical implementation, and enhanced the measures for the follow-up of the complaints lodged. Such measures include setting up of a task force to deal with complaints about Octave Notes, customer hotlines, close contact with customers to update progress, interview groups to receive and assist customers, as well as to maintain liaison with the issuing entity to obtain the latest information. AMCM will continue to process complaints in accordance with the “Guideline on Handling of Customer Complaints”, maintain contact with all parties concerned, in particular, the distributing banks with a view to urging them to resolve the cases at an earlier date. In the course of investigation, should violation of supervisory requirements be uncovered, AMCM would take punitive measures pursuant to provisions of the Financial System Act approved by Decree-Law no. 32/93/M of 5 July.
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On 26 July 2010, the inaugural class of the University of Nevada, Las Vegas (UNLV), Singapore Campus met for its orientation day at the Institute for Tourism Studies (IFT) Macao, UNLV Singapore’s partner in offering a Masters Degree in Hospitality Administration. Ten students make up this elite inaugural group, representing the hotel properties of the City of Dreams, Grand Hyatt Macau, L’Arc Hotel Macau, MGM Grand Macau, and the Venetian Macau. The pioneering class will begin their studies on 1 August 2010 beginning with Human Resource Management and Information Technology for the Hospitality Industry; future modules will include Casino Management, Hospitality Finance, and Services Management to name a few. UNLV’s Master of Hospitality Administration (MHA) Executive Programme targets working professionals within the hospitality field. Its flexible programme design, combining distance learning and on-site intensive one-week seminars, is a convenient model for industry professionals to maintain their current employment while pursuing an internationally recognised graduate degree. The MHA degree programme is offered at the Las Vegas and Singapore campuses of UNLV, and Macao is its third programme location. The pioneering batch will visit Las Vegas for Seminar Week in December 2010. UNLV is offering the MHA programme in partnership with IFT Macao, a long time hospitality educator and partner of the university. Dr. Andy Nazarechuk, Dean of UNLV’s Singapore Campus says, “UNLV Singapore is proud to offer this unique opportunity in partnership with IFT Macao to the hospitality professionals of Macao. We are pleased to see the high quality of the first group of students and we are certain that through their graduate studies they will to contribute to the future leadership within the hospitality industry.” Background on UNLV and IFT
UNLV has a 50-year history of academic excellence and its graduates can be found in key management positions in leading hotels throughout the world. The Singapore Campus, which opened in August 2006, is UNLV’s first international campus and has a current student population of over 250 students. UNLV’s Singapore Campus is accredited in the United States and recognised by the Singapore Ministry of Education. IFT, established in 1995, is a public institution of higher education that offers degree and professional programmes in a wide range of tourism-related disciplines such as hospitality, tourism business, heritage, events, retail and marketing, leisure and entertainment, sports and recreation, creative and cultural studies, and culinary arts. IFT has received various awards in recognition of its achievement in quality education. In 2008, IFT was awarded the “Medal of Merit for Tourism” by the Macao SAR Government for its contribution to the development of tourism industry. Contact Information for media interview
For more information or to arrange for interviews with either Dr. Andy Nazarechuk, Dean of UNLV Singapore, or Dr. Fanny Vong, President of IFT Macao, please contact: For UNLV Singapore
Ms. Jenny WeinmanManager of Graduate Programs
(65) 6332-9538 ext. 610
jennifer.weinman@unlv.edu.sg For IFT Macao
Ms. Frida LawSenior Public Relations Officer
(853) 8598-3182
frida@ift.edu.mo
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Information from the Statistics and Census Service (DSEC) indicated that the unemployment rate for April-June 2010 was 2.8% and the underemployment rate was 1.9%, down by 0.1 and 0.2 percentage point respectively over the previous period (March-May 2010). Total labour force was 326,000 in April-June 2010 and the labour force participation rate stood at 71.6%, with the employed population increasing by about 1,000 over the previous period to 317,000. Analyzed by industry, employment of the Transport, Storage & Communications Sector and Recreational, Cultural, Gaming & Other Services registered an increase. Number of the unemployed decreased by about 300 from the previous period to 9,300. As the summer holiday approached, number of fresh labour force entrants saw increase, accounting for 7.5% of the unemployed, up by 2.1 percentage points over the previous period. In comparison with April-June 2009, the labour force participation rate and the unemployment rate decreased by 1.0 and 0.8 percentage point respectively; however, the underemployment rate rose by 0.1 percentage point. In the second quarter of 2010, the unemployment rate of local residents stood at 3.4%, down by 0.3 percentage point quarter-to-quarter; meanwhile, the labour force participation rate of local residents rose by 0.9 percentage point to 67.1%.
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The Guangdong and Macao Branded Products Fair 2010, co-hosted by the Macao Trade and Investment Promotion Institute and the Department of Foreign Trade and Economic Cooperation of Guangdong Province, concluded today (25 July) with a recorded admission of 98,000 visitors (as at 3:30 pm 25 July) and a retail turnover of MOP 36 million. During the four-day Fair, 14 seminars and product presentations were conducted, 617 business matching sessions completed, 10 cooperation agreements signed.
Ten agreements inked
At the 2010 Fair, ten cooperation projects have been signed, including one agreement, seven sales intentions, one contract and one memorandum of understanding. The majority of the signatories came from Macao, and cities from the Guangdong Province (including Guangzhou, Zhongshan, Huizhou, Zhuhai, Meizhou) and Hong Kong. Among the agreements are: Strengthening the Comprehensive Strategic Cooperation Agreement between Macao Trade and Investment Promotion Institute and the Bureau of Foreign Trade and Economic Cooperation of Guangzhou Municipality, and the Memorandum of Understanding on Jointly Promote Overseas Investment and Trade, Strengthen Trade Service Platform and Foster Convention and Exhibition Cooperation between Macao Trade and Investment Promotion Institute and the Zhongshan Bureau of Foreign Trade and Economic Cooperation. Other cooperation projects cover the trades of accessories and spare parts for motor-cycles and bicycles, sales of farm produce, food and beverages industry, sales of foodstuffs. Significant increase in business matching and negotiations over the previous edition
Prior to the beginning of the Fair, nearly 200 branded products of Guangdong and Macao for business matching were received by the Organisers. Hence, 398 business matching sessions, showing a 64.5% growth over last year’s 589 sessions, were arranged during the Fair. 69 (11.2%) out of the total number of business matching sessions were for Macao enterprises, translating a 10% growth vis-à-vis last year. 111 (18%) sessions were among Guangdong enterprises, compared to 8% growth over the previous year. 39 or 6% were sessions for Guangdong and Macao enterprises to match businesses with foreign enterprises, representing 22% more than that of last year. Enterprises participating at these sessions are from Macao, Guangdong Province (including Guangzhou, Shenzhen, Zhuhai, Shantou, Foshan, Shaoguan, Heyuan, Meizhou, Huizhou, Shanwei, Dongguan, Zhongshan, Jiangmen) and Hong Kong. Items for purchase negotiations include consumer products, foodstuffs, daily necessities, electronic products, and clothings. Seminars and Presentations introduce products technology
On the first day of the 2010 Fair, the Services industry and Trade in Services Forum saw the exchange of ideas and in-depth discussions over the topic of trade and economic cooperation in services industry of Guangdong and Macao by representatives from the Department of Foreign Trade and Economic Cooperation of Guangdong Province and those from the business associations and enterprises of Macao. The four-day event hosted 14 seminars and presentations over themes such as beverages, tea tasting, green household utensils, healthcare and cosmetics. Stronger promotion responded with more sales and purchases
With the experience gained from last year’s Fair, the Organisers have issued more guidelines to encourage more quality merchandise for the 2010 Fair. To cope with the promotion of the Asian Games in Guangzhou, a designated booth for the Asian Games souvenirs display and sales was set up on site, winning much popularity from visitors. Promotions were rolled out in all forms before the Fair for more publicity. As at 3:30pm today, admission reaches a cumulative total of 98,000 for the four-day event. The increased crowd stimulated the on site sales turnover to MOP 36 million. Some exhibitors found items short of the scaled up demand. The carnival-style Fair and more access to the Fair appeal to residents
Cultural shows and performances were held recurringly throughout the Fair at the Macau Fisherman’s Wharf Convention and Exhibition Centre to draw in more residents and tourists. Performances from Macao, Hong Kong and Guangdong were invited to stage their programmes on dancing, magic shows, music, etc. Shuttle buses were arranged to bring residents to and from the venue while 3 hours complimentary parking lots were available to driving visitors. There will be 132 winners for the prizes of the lucky draw and 5 winners for the grand prizes. Results of the lucky draw for the 2010 Fair will be published at the Macao Daily News on 27 July 2010 and on the official website of the Fair at http://www.guangdongmacaofair.com . Five winners were awarded the prizes of the Grand lucky draw whereas 132 winners for other prizes of the draw. The Fair is vital to the deepening of the cooperation between Guangdong province and Macao
The Guangdong and Macao Branded Products Fair 2010 is co-hosted by the Macau Trade and Investment Promotion Institute and the Department of Foreign Trade and Economic Cooperation of Guangdong Province, and coordinated by the Macau Fair & Trade Association. To complement the efforts of the governments of Guangdong and Macao SAR on the Outline of the Plan for the Reform and Development of the Pearl River Delta Region and the subsequent Strengthening the Comprehensive Strategic Cooperation Agreement between Guangdong and Macao signed in March last year, the 2010 Fair, following the footsteps of the 2009 edition of the event by the Macao Trade and Investment Promotion Institute and the Department of Foreign Trade and Economic Cooperation of Guangdong Province, comes again as an important platform jointly fostered by Guangdong province and Macao. The 2010 Fair is the third occasion of its kind as a mega trade and economic activity jointly held by Guangdong province and Macao after the 2003 and 2009 Guangdong and Macao Branded Products Fair. The objectives of the Fair is to make full use of the competitive edge of Macao being a platform for conventions & exhibitions and Guangdong Province as a manufacturing base, to co-promote to the world for economic developments of Guangdong and Macao. The Fair bears significance to the deepening of trade and economic cooperation between Guangdong province and Macao. During the Fair, the Jiangmen Consultancy Office for the Bureau of Foreign Trade and Cooperation of the Jiangmen City conducted its launching ceremony. This turns Macao into full play as a business services platform and assists products of mainland China to enter the market of Macao and to a greater extent to the international market.
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