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Shore Capital Macau Property Opportunities Fund Analysts: Jon Bell Gavin Jago September 2008 United Kingdom Macau Property Opportunities Fund+ N/R Property development in Macau 25th September 2008 Site visit & initiation of coverage 87p FTSE AIM All Share 681 Reuters/Bloomberg MPO.L/ MPO LN Rising in the East No. of shares - diluted (m) 105 Macau has now overtaken Las Vegas as the world’s premier gaming Mkt Cap (£m) 91 location (gaming revenues exceeded $10bn last year as the region attracted Pro forma debt (£m) 14 27 million visitors). This is creating a fertile environment for property EV (£m) 105 development as locals and investors demand higher-quality properties 1 across all classes. As an established investor and developer with a strong NAV as at 30/06/08 (p) 154 Premium to share price (%) 77 local presence and a valuable portfolio of projects, we believe MPO is well Shore Capital NPV (p)1 174 placed to generate high returns from the region’s transformation. Premium to share price (%) 100 Website www.mpofund.com Strict adherence to investment strategy. MPO has adopted a judicious approach to investment, undertaking careful due diligence prior to committing Absolute performance (%) capital. Targeting niche property opportunities often overlooked by larger 1m/3m/12m -/(14)/(25) Relative to FTSE AIM All Share (%) developers, the company is focused on the luxury and entry-level residential, 1m/3m/12m +15/+18/+13 mixed-use and industrial segments. To date, MPO has committed c$294m to projects (c156% of the company’s total equity). Management has adopted a Analysts: prudent approach to the use of financial gearing, unlike many of its peers, and Jon Bell 0207 647 8130 agreed terms at attractive rates, leveraging off its excellent banking relationships. -
2020 Annual Report
Stock Code: 1928 and Note Stock Codes: 5140, 5141, 5142, 5725, 5727, 5733, 40246, 40247, 40584, 40585 www.sandschina.com From Luxury Duty Free Shopping, Exciting Entertainment and Fabulous Dining to World-Class Hotel Suites and MICE, Come and Discover Everything at Sands China. SANDS CHINA LTD. CONTENTS 1. OVERVIEW 4 1.1 Financial Results Summary 4 1.2 Highlights of 2020 5 1.3 Directors and Senior Management 11 2. BUSINESS REVIEW 18 2.1 Chairman’s Statement 18 2.2 Business Overview and Outlook 20 2.3 Our Properties 26 2.4 Management Discussion and Analysis 33 2.5 Priority Risk Factors 47 2.6 Stakeholder Information 59 3. CORPORATE GOVERNANCE 66 REPORT 3.1 Introduction 66 3.2 Corporate Governance Code Compliance 66 3.3 Board Governance Structure 67 3.4 The Board 68 3.5 Audit Committee 74 3.6 Remuneration Committee 76 3.7 Nomination Committee 78 3.8 Capex Committee 81 3.9 Risk Management and Internal Control 82 3.10 Shareholders 87 3.11 Compliance Disclosures and Other Matters 90 3.12 Directors’ Report 92 4. FINANCIAL STATEMENTS 113 4.1 Independent Auditor’s Report 113 4.2 Financial Statements 117 4.3 Notes to the Consolidated Financial Statements 123 4.4 Financial Summary 193 5. CORPORATE INFORMATION 194 6. CONTACT US 195 7. GLOSSARY 196 In case of any inconsistency between the English version and the Chinese version of this Annual Report, the English version shall prevail. SANDS CHINA LTD. 1.1 FINANCIAL HIGHLIGHTS 2 ANNUAL REPORT 2020 SANDS CHINA LTD. 1.1 FINANCIAL HIGHLIGHTS our Luxurious Hotel Rooms and Suites await you. -
Hong Kong Dollar (HK$) Which Is Accepted As Currency in Macau
Interesting & Fun Facts About Macau . The official name of Macau is Macau Special Administrative Region. The official languages of Macau are Portuguese and Chinese. Macau lies on the western side of the Pearl River Delta, bordering Guangdong province in the north. Majority of the people living in Macau are Buddhists, while one can also find Roman Catholics and Protestants here. The economy of Macau largely depends upon the revenue generated by tourism. Gambling is also a money-generating affair in the region. The currency of Macau is Macanese Pataca. After Las Vegas, Macau is one of the biggest gambling areas in the world. In fact, gambling is even legalized in Macau. Macau is the Special Administrative Region of China. It is one of the richest cities in the world. Colonized by the Portuguese in the 16th century, Macau was the first European settlement in the Far East. Macau is one of the most densely populated regions in the world. Macau ranks amongst the top 10 regions in the world, with a quite high life expectancy at birth. Macau is a highly humid region, with the humidity ranging anywhere between 75% and 90%. It receives fairly heavy rainfall as well. The Historic Centre of Macau, including twenty-five historic monuments and public squares, is listed as a World Heritage Site by UNESCO. The tourists of Macau should know that tipping is a very popular as well as important tradition followed in the region. Nearly 10% of the bill is given as tip in most of the restaurants and hotels of Macau http://goway.com/blog/2010/06/25/interesting-fun-facts-about-macau/ Basic Information on Macao (east-asian-games2005.com) Updated: 2005-09-27 15:23 Geographical Location Macau is located in the Guangdong province,on western bank of the Pearl River Delta,at latitude 22o14‘ North,longitude 133 o35‘ East and connected to the Gongbei District by the Border Gate (Portas do Cerco) isthmus. -
Worldreginfo
WorldReginfo - 86e2fb92-c423-4624-8396-11bda2137810 From Luxury Duty Free Shopping, Exciting Entertainment and Fabulous Dining to World-Class Hotel Suites and MICE, Come and Discover Everything at Sands China. WorldReginfo - 86e2fb92-c423-4624-8396-11bda2137810 SANDS CHINA LTD. CONTENTS 1. OVERVIEW 4 1.1 Financial Highlights 4 1.2 Highlights of 2019 5 1.3 Directors and Senior Management 10 2. BUSINESS REVIEW 17 2.1 Chairman’s Statement 17 2.2 Business Overview and Outlook 19 2.3 Our Properties 26 2.4 Management Discussion and Analysis 33 2.5 Priority Risk Factors 46 2.6 Stakeholder Information 58 3. CORPORATE GOVERNANCE 65 REPORT 3.1 Introduction 65 3.2 Corporate Governance Code Compliance 65 3.3 Board Governance Structure 66 3.4 The Board 67 3.5 Audit Committee 74 3.6 Remuneration Committee 76 3.7 Nomination Committee 78 3.8 Capex Committee 81 3.9 Risk Management and Internal Control 82 3.10 Shareholders 88 3.11 Compliance Disclosures and Other Matters 90 3.12 Directors’ Report 92 4. FINANCIAL STATEMENTS 109 4.1 Independent Auditor’s Report 109 4.2 Financial Statements 113 4.3 Notes to the Consolidated Financial Statements 119 4.4 Financial Summary 201 5. CORPORATE INFORMATION 202 6. CONTACT US 203 7. GLOSSARY 204 In case of any inconsistency between the English version and the Chinese version of this Annual Report, the English version shall prevail. WorldReginfo - 86e2fb92-c423-4624-8396-11bda2137810 SANDS CHINA LTD. 1.1 FINANCIAL HIGHLIGHTS 2 ANNUAL REPORT 2019 WorldReginfo - 86e2fb92-c423-4624-8396-11bda2137810 SANDS CHINA LTD. -
The Best Travel Guide to Having Fun in Macau!
The Best Travel Guide to Having Fun in Macau! 1. Macau factsheet: Get to know Macau in 5 Minutes! 2. Culture of Macau 3. 10 Things to Do in Macau 4. 10 Places to Eat in Macau 5. Macau One-Day and Two-Days Itinerary 1. Macau factsheet: Get to know Macau in 5 Minutes! Getting to Macau 1. By flight: The Macau International Airport is located at the eastern end of Taipa Island. Sands Cotai Central is just a five-minutes ride away. 2. By ferry: It is easy to travel by ferry between Hong Kong and Macau. There is a very high frequency of sailings, and tickets can be conveniently purchased at the ferry terMinals and soMe Macau hotels/casinos. Visit this link to find out More: http://gohongkong.about.com/od/daytrips/a/macauferries.htM Geography Macau is separated into two main parts: 1. Macau Peninsula and 2. Taipa Island/Cotai/Coloane Island. Cotai is an artificial land Mass created by land reclaMation. These two parts are connected by three beautiful bridges. See the Map below. Map of Macau: History Macau is a former Portuguese colony. Portuguese settlers first arrived in Macau during the mid-sixteenth century. In 1999, Portugal returned Macau back to Chinese sovereignty where it is now governed as a Special AdMinistrative Region (siMilar to Hong Kong). Culture Due to a few hundred years of Portuguese presence, Macau has a unique fusion of Portuguese and Chinese culture. You will see Many Portuguese architecture in Macau, as well as Portuguese restaurants and Portuguese foods. Travelling around Macau It is very easy to travel around Macau. -
2011 Annual Report Annual Report 2011 Annual Report
2011 Annual Report Annual ReportAnnual 2011 www.sandschinaltd.com This annual report is printed on recycled paper using soy ink CONTENTS Sands China Ltd. I Annual Report 2011 1. Overview 2 4. Corporate Governance Report 49 1.1 Financial Highlights 2 4.1 Chairman’s Introduction 49 1.2 Highlights of 2011 3 4.2 The Code and Good Governance 50 1.3 Chairman’s Statement 8 4.3 The Board 51 1.4 Directors and Senior Management 10 4.4 Key Roles 54 1.5 Business Overview 15 4.5 Activity 55 1.6 Our Properties 19 4.6 The Committees 56 2. Management Discussion and Analysis 25 4.7 Risk and Internal Control 60 3. Stakeholder Information 35 4.8 Shareholders 61 3.1 Our Shareholders 35 Compliance Disclosures and Other 4.9 61 Matters 3.2 Our Lenders 36 4.10 Directors’ Report 63 3.3 Our Customers 37 5. Financial Statements 81 3.4 Our Employees 38 5.1 Independent Auditor’s Report 81 3.5 Our Commitment to the Community 42 5.2 Financial Statements 83 3.6 Preserving Our Environment 46 Notes to the Consolidated Financial 5.3 90 Statements 5.4 Financial Summary 175 6. Corporate Information 176 7. Contact Us 177 8. Glossary 178 2 Sands China Ltd. 1. OVERVIEW INTRODUCTION Sands China operates the largest collection of integrated resorts in Macao. On December 31, 2011 we had 3,554 hotel rooms and suites, 74 restaurants, 1.2 million square feet of retail, 1.2 million square feet of meeting space, two permanent theaters, a 15,000-seat arena and the world’s largest casino. -
Transport Macau to Hong Kong
© Lonely Planet Publications MACAU Ruins of the Church of St Paul ( p315 ) Monte Fort ( p319 ) Avenida da República ( p324 ) Temples ( p322 ) A-Ma Temple ( p324 ) Taipa House Museum ( p329 ) Coloane Village ( p331 ) Casinos ( p340 ) To the northeast of Lampacau was a small dents, including about 900 Portuguese. The lonelyplanet.com peninsula where the Portuguese had frequently rest were Christian converts from Malacca MACAU dropped anchor. Known variously as Amagau, and Japan and a large number of slaves from Aomen and Macau (see the boxed text, below), colonial outposts in Africa, India and the the peninsula had two natural harbours – an Malay Peninsula. Many Chinese had moved The zodiac sign of Macau is Gemini. It is a city of duality. The fortresses, the churches and food inner one on the Qianshan waterway facing into Macau from across the border, and they of former colonial Portuguese masters speak to a uniquely Mediterranean style on the China the mainland, and an outer one in a bay on worked there as traders, craftspeople, hawk- coast, intermixed with numerous alleys, temples and shrines along the way. On the other hand, the Pearl River – and two sheltered islands to ers, labourers and coolies; by the close of the you’ll find yourself in a self-styled Las Vegas of the East. Amazingly, all of these different parts the south. In 1557 officials at Guangzhou let century, their numbers had reached about of Macau are within a stone’s throw of each other. the Portuguese build temporary shelters on the 40,000. Lying 65km to the west of Hong Kong, Macau was the first European enclave in Asia, 450 peninsula in exchange for customs dues and Besides trading, Macau had also become years ago. -
Annual Report of the CCAC of Macao
Annual Report of the CCAC of Macao 1 Annual Report of the CCAC of Macao Contents FOREWORD............................................................................................................5 PART I CASE PROCESSING SUMMARY..........................................................9 I. Number of reports...........................................................................................11 II. Case processing...............................................................................................14 PART II ANTI-CORRUPTION..............................................................................15 I. Numbers of reports and cases filed for investigation..............................17 II. Summaries of part of the cases investigated by CCAC.............................18 III. Joint investigation into cross-boundary cases and judicial assistance.....36 PART III OMBUDSMAN........................................................................................39 I. Introduction..............................................................................................41 II. Number and nature of requests for help and consultation.........................42 III. Investigation file, analysis and recommendation...........................................47 IV. Summary of some ombudsman cases............................................................48 PART IV OTHERS..................................................................................................71 I. Declaration of incomes and properties.....................................................73 -
46Th PABF Bridge Championships
46th PABF Bridge Championships th th Date : 18 June, 2009 to 28 June, 2009 Venue : Forum de Macau Hotels : Casa Real Hotel Hotel Golden Dragon Organizing NBO : Associacao de Bridge De Macau Organizing Committee : Chairman : Asvezes Tsang Secretary : S S Bux Trea surer : Raymond Kok Committee Members: Antonio Pedro do Rosario Lawrence Lau 46th PABF Bridge Championships, 2009 Tentative Schedule Opening Ceremony 18th June Delegates’ Meeting, Captains’ Meeting 19th June Round Robin 20th June Round Robin 21st June Round Robin 22nd June Round Robin 23rd June Round Robin 24th June Round Robin 25th June Round Robin 26th June Round Robin Open Pairs Qualifying 27th June Zone 6 Selection (2nd Berth) Zone 7 Selection Play-off Open Pairs Final & Consolation Pairs Zone 6 Selection (3rd Berth) 28th June Zone 7 Selection Play-off Victory Dinner Invitation We would like to invite your NBO to send a maximum of 1 Open Team, 1 Ladies Team, 1 Under-26 Team, 1 Under-21 Team, and 4 Senior Teams. The 2nd to 4th teams in the Senior Category can be transnational teams. Eligibility All teams must register through their NBO. All invited NBOs must be members of the PABF. Please refer to the PABF General Conditions of Contest (November 2008) for further details. Entry Fees Open Team US$1,000 per team Ladies Team US$1,000 per Team Senior Team US$600 per team Under-26 Team US$400 per team Under -21 Team US$200 per team Open Pairs US$100 per pair for non-participants of the team events Deadline for Registration NCBOs are required to register their teams on or before 31st March, 2009. -
Macao Monuments: © the Author(S) 2011 Reprints and Permission
Space and Culture 14(2) 140 –164 Macao Monuments: © The Author(s) 2011 Reprints and permission: http://www. sagepub.com/journalsPermissions.nav In Art, in Poetry, and in DOI: 10.1177/1206331210392685 Your Face http://sac.sagepub.com Carol Archer1 and Christopher Kelen2 Abstract How are city and culture—the space of the city and the “mind space” of the cultural artifact— connected or disconnected? Contemporary Macao poetry and installation art demonstrate that not only has local culture continued to thrive despite outside pressures on the city’s regional position (a part of “one China” with a localized function) but that the need to produce a critique of these pressures has itself been productive of a politically interested (and interesting) literary and visual culture—a creative culture that demonstrates an opportunistic ambivalence toward identity options. Macao (a city in southern China and, until 1999, sleepy Portuguese possession) is today undergoing unprecedented development. Since the 2002 “liberalization” of casino licensing, the cityscape has taken a monumental turn, with the addition of a number of remarkable landmarks. Today, Macao is promoted as a tourist destination that offers ultramodern casinos and luxurious hotels as well as World Heritage–listed architecture. In recent years, the people of Macao have sometimes felt themselves the victims of contradictory forms of recolonization—by Beijing on one hand and by Vegas-style casino capitalism on the other. Between these gigantic pincers, what chances of survival have local culture and custom had? This article takes a close look at some contemporary Macao poetry and installation art, dealing with themes of monumentality and their meaning for the “new” Macao. -
Macau As a World Centre of Tourism and Leisure”
THE 6TH UNWTO ASIA/PACIFIC EXECUTIVE TRAINING PROGRAM ON STRATEGIC TOURISM PLANNING Session 3: Tourism Observatories and Strategic Tourism Planning in China “Positioning and Planning of Macau as a World Centre of Tourism and Leisure” 25-28/06/2012, Bhutan 1. About Macau 2. Tourism Situation 3. Positioning & Policy 4. Planning to Build a World Centre of Tourism & Leisure 5. Sustainable Tourism 2 4 Macau SAR Total Area: 29.9 km2 Macau Peninsula: 9.3 km2 Taipa Island: 7.4 km2 CoTai Area: 5.6 km2 Coloane Island: 7.6 km2 Population: 562,900 5 2 Barrier Gate Air - Macau International Airport Outer Harbour Inner Macau Maritime - Outer Harbour Maritime Terminal Harbour Peninsula Terminal (helicopter) Sea - Inner Harbour - Outer Harbour Maritime Terminal - Taipa Temporary Ferry Terminal Taipa Temporary Ferry Terminal Land - Barrier Gate in Macau Peninsula - The COTAI Frontier Post Taipa Macau * Air-to-Sea or Sea-to-Air transfer Service Int’l Airport New SkyPier at Hong Kong International Airport COTAI Frontier - Opened on 15 Jan 2010 Post - Check-in counter on Level 5, Transfer Area Cotai E2, Terminal 1, HKIA Coloane 6 Arrivals of Total Visitor & International Visitors 1995-2011 (excluding the Greater China) Inscribed on UNESCO New system of World Heritage visitor arrivals List on 15 July 2005 figures in 2008 million Macau SAR established on Individual Visit 20 Dec.1999 Scheme 30 Inauguration Liberalization 28.0 of Macau 26.9 25 of Gaming International 21.9 24.9 22.9 Airport 21.7 20 16.6 18.7 15 11.5 11.8 10.2 9.1 10 7.7 8.1 7 6.9 7.4 5 2.5 3.0 2.7 3.0 3.0 1.3 1.6 1.0 0.9 0.6 0.6 0.6 0.6 0.7 0.5 0.8 1.1 0 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 International Total No. -
Casa De Macau Newsletter
Source: Antonieta Manolakis President’s Report Interstate Representatives: I am honoured to serve another Victoria: Eddie Raphael term as President and would like Queensland: Rosanna Webb to thank the committee and all of ACT: Luiz Ribeiro our members for your ongoing Tasmania: Robert Estorninho support. Western Australia: Felipe Badaraco We held our AGM on Saturday South Australia: Anna Maher 12th October 2019 at the Macanese Cultural Centre (MCC) in Newsletter Editor: Denice Smith Sydenham. Thank you to all members that attended and to Website: Maria Dos Santos Lee all that catered for the delicious light refreshments after. Thank you to our Newsletter Editor, Denice Smith and Thank you, Nina, for chairing the AGM in my absence. Website co-ordinator, Maria Dos Santos Lee for keeping our Please join me in congratulating and welcoming our members informed via our amazing newsletter and website. dedicated Committee and Interstate Reps for 2019/2020 We are all volunteers with the same goal of “Keeping the term. I am truly honoured to have such an outstanding and Macanese Culture Alive”. supportive team and welcoming a Youth member onto our team also. Our Sunday lunches in 2019 have been a success, a huge thank you to all of our volunteer chefs and attendees. We President: Antonieta Amarante Conceiçao Manolakis have shared many special moments during our Sunday Vice-President: Leonor Andrade Deacon lunches. I am truly grateful for your ongoing support. Thank Treasurer: Ed Rozario you, Rebecca Akouri and Stephanie Deacon for preparing a Secretary: Mary Rigby delicious September lunch. It is encouraging to see the Deputy Secretary: Antonia Olaes Youth being involved with our Casa and to keep the General Committee: Marcus Guttierez; Leonardo Macanese legacy alive.