ASIAN FILM AWARDS NOMINEES AMNESTY HK BUDGET OFFERS RELIEF TO ANNOUNCED PROTEST-HIT BUSINESSES CONCERNED The 9th Asian Film Awards (AFA), set WITH In his annual budget speech, Financial to be held in Macau on March 25, Secretary John Tsang unveiled ACADEMIC feature 74 nominations and 42 films USD37 million in measures aimed at FREEDOM from eight countries giving relief to some business P4 P5 P11 THU.26 Feb 2015 T. 18º/ 22º C H. 75/ 99% Blackberry email service powered by CTM MOP 5.00 2258 N.º HKD 7.50 FOUNDER & PUBLISHER Kowie Geldenhuys EDITOR-IN-CHIEF Paulo Coutinho “ THE TIMES THEY ARE A-CHANGIN’ ” WORLD BRIEFS Gaming revenue more BLOOMBERG than halves in February P2 FRANCE At least three small civilian drones flew over iconic landmarks in Paris in the early hours yesterday for a second night, local media reported. Citing its own sources, the local broadcaster Europe1 said the drones were spotted over La Place de La Concorde. Police had already been investigating who was behind some five separate drone flights over emblematic places including the Eiffel Tower, the Place de la Concorde, the Invalides military museum and the American Embassy the previous night. CHINA’s manufacturing activity edged up to a four-month high in February although export orders decreased for the first time in nearly a year, in the latest sign of uncertainty for the world’s No. 2 economy, according to a private survey. More on p11 SOUTH KOREA A gunman shoots and kills three people in a Sejong City convenience store that he then sets on fire before fleeing, South Korean police say. The suspect is later found dead with a gunshot wound in his head in an apparent suicide. More on p13 MALAYSIA The family of jailed Malaysian opposition leader Anwar Ibrahim seeks a royal pardon in a last-ditch effort to try free him from PUBLIC HOUSING FIASCO a sodomy conviction. AUSTRALIA-EGYPT Australia imposes Architect criticizes practice of financial sanctions on the Egypt-based militant group Ansar Bayt al- Maqdis. awarding contracts to low bidders P3 MDT REPORT More on backpage 26.02.2015 thu th Anniversary 2 MACAU 澳聞 GAMING | CNY time worst. “We believe the situation is likely to deteriorate in the co- ming months,” Credit Suisse Weak revenue trends in both analyst Kenneth Fong wrote in a note yesterday. “On the VIP side, with more junke- ts shutting down business VIP and mass segments post Chinese New Year and working capital in the system shrinking, revenue may see Daryl Loo and Jonathan Burgos another leg down.” Gross gaming MGM China Holdings Ltd. ACAU casino shares AP PHOTO revenue may fell 7.2 percent to HKD17.68 Mplunged in Hong Kong at the close of trading in Hong trading on weak gambling fall 53.5 percent Kong, the biggest decline sin- over the Lunar New Year ho- ce May 8 2014. Sands China liday period fueling expecta- this month Ltd. dropped 5.8 percent and tions that revenue from Chi- Galaxy Entertainment Group nese high-rollers will continue Ltd. fell 5.1 percent, the worse to slump in the coming mon- at ABN Amro Private Banking performers on the benchmark ths. which manages about USD218 Hang Seng Index, which gai- Wells Fargo & Co. said its billion, said over the telepho- ned 0.1 percent. checks suggested weak reve- ne. “The Chinese government Wynn Macau Ltd. and Mel- nue trends in both VIP and is determined to pursue its an- co Crown Entertainment both mass segments, with a number ti-corruption drive and that’s lost 5.9 percent, and SJM of mass tables empty on the negative on the casino stocks.” Holdings Ltd. declined 5.1 third and fourth days of Lu- Macau’s casino revenue had percent. The shares extended nar New Year, analyst Came- slumped an eighth straight their declines from yesterday ron McKnight wrote in a note. month in January for the in- after the Secretary for Social Macau gross gaming revenue dustry’s longest losing streak Affairs and Culture Alexis may fall 53.5 percent this since monthly records star- Tam said the city wants to stu- month, according to the me- ted in 2005. The 53.5 percent dy restrictions on mainland dian estimate of eight analysts year-on-year slump predicted Chinese tourists to ease over- surveyed by Bloomberg, worse for February would be the all- crowding. MDT/Bloomberg than the 40 percent drop fore- cast before the holiday began. China’s Lunar New Year, which started on Feb. 19 this SJM profit drops 12.7 percent in 2014 year, is traditionally a period for Chinese to travel and a HE portion of SJM’s profit attributa- The company yesterday announced ling HKD24,418 million by December 31 peak gambling season in Ma- Tble to owners of the company decli- the audited results for last year. Figu- last year. cau. Last February was a re- ned by 12.7 percent year-on-year in 2014 res show that hotel, catering and other SJM Holdings’ CEO, Ambrose So, ack- cord high for the local casinos, to HKD6,731 million, the operator revea- income decreased by 22.4 percent to nowledged that, “2014 proved to be a which have since been hit by led in a press release yesterday. Despite HKD971 million, “reflecting the impact challenging time for Macau’s gaming Chinese government crack- leading in market shares (with an overall of a one-off gain of HKD149 million from industry, particularly the second half.” downs on graft and stricter gaming market share of 23.2 percent), the group’s investment in Macau Legend “Nevertheless, the efforts of our team travel rules, deterring high SJM’s gaming revenue dropped by 8.8 Development Limited in 2013 and a de- and the appeal of our products enabled rollers from entering the ter- percent year-on-year in 2014, amounting crease in fair value of financial assets of SJM to maintain the number one posi- ritory. to HKD79,269 million. HKD140 million in the current year.” tion in our industry as well as to make “We’re still cautious on ga- SJM Holdings Limited said that the ad- SJM Holdings Limited said that the significant progress in construction of ming stocks,” Daphne Roth, justed EBITDA of the group decreased by group maintained its strong balance the Lisboa Palace on Cotai,” he said in a head of Asian equity research 10.5 percent to HKD7,763 million. sheet, with cash and bank balances tota- statement. GAMING Citi cuts Feb revenue to MOP17.5bn, down 54 pct EFERRING to MOP558m/day, decli- the most conservative nuary/February GGR Rits sources, Citi ning 5 percent from the estimates on the street. which is now forecast GENTING SINGAPORE Q4 PROFIT DROPS Research has indica- previous week. The research house to decline 38 percent ted that Macau’s table Citi said the numbers stated, “We cut our Fe- year-on-year. At this SHARES OF Genting Singa- (USD65.77 million), as the Gross Gaming Revenue are weak as the sample bruary GGR forecast run rate, Citi said its -4 pore, regional leisure, hospitality operator was affected by poor (GGR) for the first 23 includes the 3-4 days from MOP22.5bn to percent 2015 GGR fore- and integrated resorts operator, performance in its VIP busi- days of February rea- just before the CNY ho- MOP17.5bn down 54 cast looks challenging, have dropped to their lowest ness as well as by bad debts. ched MOP13.3bn (or liday, which are unders- percent compared to but the research house since 2010 as the company re- Analysts believe that bad debts MOP14.0bn, including tood to be the weakest the highest GGR on re- highlighted “the more ported a 36 percent decline in its might have also been triggered an estimated MOP700m days of the year due to cord in February 2014.” important data point fourth-quarter profit, the Straits by Chinese high-rollers who in slot-related revenue). the celebratory season. To alleviate the effec- is next week, which Times reported yesterday. were unwilling or unable to pay Genting Singapore’s fourth- their gambling arrears due to The total daily GGR With only five days left, ts of seasonality, Citi will show if the normal quarter net profit declined by tougher credit conditions as the run rate over the past February looks set to believes it is better to post- CNY ramp will oc- 36 percent to SGD89.2 million Chinese economy slows. eight days equated to significantly miss even look at combined Ja- cur in 2015.” DIRECTOR AND EDITOR-IN-CHIEF_Paulo Coutinho [email protected] A MACAU TIMES PUBlications LTD PUBlication www.macaudailytimes.com.mo MANAGING EDITOR_Paulo Barbosa [email protected] MDT’s Website has logged over CONTRIBUTING EDITORS_Eric Sautedé, Leanda Lee, Severo Portela Administrator AND CHIEF EXECUTIVE OFFICER CHINA & FOREIGN EDITOR_Vanessa Moore [email protected] Kowie Geldenhuys [email protected] 86 million page views DESIGN EDITOR_João Jorge Magalhães [email protected] | NEWSROOM AND CONTRIBUTORS_Albano Secretary Juliana Cheang [email protected] Martins, António Espadinha Soares, Brook Yang, Catarina Pinto, Cyril Law, Emilie Tran, Grace Yu, Irene Sam, Jacky I.F. Cheong, Jenny ADDRESS Av. da Praia Grande, 599, Edif. Comercial Rodrigues, 12 Floor C, since January 1st, 2012 up to today. Philips, João Pedro Lau, Joseph Cheung, Juliet Risdon, Keith Ip, Renato Marques (photographer), Richard Whitfield, Robert Carroll MACAU SAR Telephones: +853 287 160 81/2 Fax: +853 287 160 84 (Hong Kong correspondent), Rodrigo de Matos (cartoonist), Ruan Du Toit Bester, Sandra Norte (designer), Sum Choi, Viviana Seguí Advertisement [email protected] Thank You! | Associate CONTRIBUTORS_JML Property, MacauHR, MdME Lawyers, PokerStars | NEWS AGENCIES_ Associated Press, For subscription and general issues: Bloomberg, Lusa News Agency, MacauHub, MacauNews, Xinhua | Secretary_Yang Dongxiao [email protected] [email protected] | Printed at Welfare Printing Ltd Like us? facebook.com/mdtimes SEND NEWSWORTHY INFORMATION AND PRESS RELEASES TO: [email protected] WEBSITE: WWW.MACAUDAILYTIMES.COM.MO thu 26.02.2015 th Anniversary 澳聞 MACAU 3 EXPLAINING THE SEAC PAI VAN FIASCO Lowest bidder tends to neglect quality João Pedro Lau OLLOWING the dis- covery of various flaws in the public housing estate in Seac Pai Van, Fincluding that of paper bags inside the apartments’ walls and cracks appearing on walls and ceilings, the quality and safety of the structures have been called into question.