The Secretary for Economy and Finance, Mr Leong Vai Tac, speaks to reporters.
The Industrial and Commercial Development Fund has sent a case involving a loan granted to Viva Macau, to the Commission Against Corruption (CCAC), for the graft buster to investigate whether there were any wrongful acts, or illegal transfer of assets related with Viva Macau’s bankruptcy process.
The CCAC today confirmed the launch of an investigation into the case.
The Fund’s decision followed opinions expressed by members of the Follow-up Committee for Public Finance Affairs of the Legislative Assembly, as well as in response to public concern over the case, said today the Secretary for Economy and Finance, Mr Leong Vai Tac.
During a meeting with Government representatives on Thursday (26 July), members of the Follow-up Committee for Public Finance Affairs have suggested that the Government should review the Viva Macau case from a new angle.
The Secretary stated that the Government would continue, via an external lawyer team, the civil litigation procedures against the Hong Kong-registered guarantor of Viva Macau, in order to recover a loan it made to the bankrupt airline. The Government had already tried to identify assets controlled by the defunct airline and its guarantor for debt collection. The Industrial and Commercial Development Fund has been closely monitoring any developments regarding the case.
In addition, members of the Follow-up Committee for Public Finance Affairs have also requested the Government to provide more information relating to the loan to Viva Macau, including the list of members that took part in the decision to approve such loan.
Mr Leong said the Industrial and Commercial Development Fund paid great attention to the opinions expressed by members of the Legislative Assembly’s Follow-up Committee, adding that the Fund would work closely with the Assembly members on this case.
Between 2008 and 2009, the Industrial and Commercial Development Fund granted loans amounting to a total of 212 million patacas to Viva Macau, to support the development of the local aviation sector during a financial crisis that was impacting the global commercial aviation industry. The airline company went bankrupt in 2010.