News

According to statistics released today by the Monetary Authority of Macao, on a monthly basis, broad money supply continued to stay flat in March. As total loans grew much faster than deposits, the overall loan-to-deposit ratio of the banking sector continued to rise.
Money supply
Currency in circulation edged down 0.2% while demand deposits grew 2.2%. M1 thus increased 1.8% from one month earlier. Concurrently, quasi-monetary liabilities dropped 0.2% and offset the rise in narrow money. M2 therefore kept virtually unchanged from the previous month at MOP310.6 billion. On an annual basis, M1 and M2 rose 13.4% and 20.0% respectively. The share of Pataca (MOP) in M2 stood at 25.7%, down 0.5 percentage points over a month ago and 2.2 percentage points from a year earlier. The share of Hong Kong Dollar (HKD) in M2 was 54.6%, up 0.6 percentage points month-to-month and 1.5 percentage points year-on-year.
Deposits
Resident deposits stayed flat from the preceding month at MOP303.8 billion. Of which, HKD deposits increased 1.2% while MOP deposits and other foreign currency deposits decreased at respective rates of 2.0% and 0.6%. In the meantime, non-resident deposits grew 9.1% to MOP124.6 billion while public sector deposits with the banking sector increased 3.0% to MOP30.8 billion. As a result, total deposits with the banking sector rose 2.5% from a month earlier to MOP459.2 billion. The shares of MOP and HKD in total deposits were 20.8% and 44.4% respectively.
Loans
Domestic loans to the private sector increased 2.1% on a monthly basis to MOP170.4 billion. Among which, MOP45.4 billion was MOP-denominated and MOP110.3 billion was denominated in HKD, representing 26.7% and 64.7% of the total respectively. Compared with a quarter ago, loans to "agriculture and fisheries", loans to "wholesale and retail trade" and "car loans" increased at respective rates of 18.9%, 15.4% and 9.7% whereas those to "manufacturing industries" and "electricity, gas and water" dropped 12.7% and 7.5% respectively. External loans rose 8.4% to MOP182.2 billion; of which, loans denominated in MOP and HKD accounted for 0.6% (MOP1.1 billion) and 27.9% (MOP50.9 billion) respectively.
Loan-to-deposit ratios
Due to the growth in domestic loans to the private sector, the loan-to-deposit ratio for the resident sector at end-March 2012 rose 0.9 percentage points month-to-month to 50.9%. The ratio for both the resident and non-resident sectors was 76.8%, up 2.0 percentage points from the previous month.
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Macao's Economic and Cultural Office in Taiwan, located at Taipei 101, will have its official opening on Sunday (13 May). The Secretary for Social Affairs and Culture, Mr Cheong U, will lead a delegation of officials and representatives from Macao's cultural, educational and tourism sectors for the opening ceremony. Mr Cheong and his delegation will also meet with students from Macao studying in Taiwan and visit a number of creative industry sites and companies in Taipei. In July last year, Macao SAR Government announced that it would set up an economic and cultural office in Taiwan to provide services to Macao citizens in Taiwan and enhance links and exchanges with Taiwan authorities in areas of economy, culture, education, tourism, sport, public hygiene and other areas. The Office, on the 56th floor in Taipei 101, began operation in December last year. Members of the delegation include the Chief-of-Office of the Office of the Chief Executive, Mr Tam Chon Weng; the Chief-of-Office of the Office of the Secretary for Social Affairs and Culture, Ms Cheung So Mui; the Director of Cultural Affairs Bureau, Mr Ung Vai Meng; the Director of Macau Government Tourist Office, Mr João Manuel Costa Antunes; the Co-ordinator of the Tertiary Education Services Office, Mr Sou Chio Fai, and the Deputy Director of Education and Youth Affairs Bureau, Mr Lou Pak Sang.
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IFT is selected as 2012 Top 10 Asia Pacific IATA Authorised Training Center (ATC) by International Air Transport Association (IATA). The Association strongly recognises IFT's role in developing the human capital to the hospitality and service industry in Macao. IFT has been an IATA Authorised Training Center since 1990s and it has been the only center in Macao providing IATA/UFTAA International Travel Agent Foundation Course which is an international benchmark programme for the travel industry. Macao residents can gain the fundamental knowledge for being a travel agent by taking this course. Tourism and Hotel School (THS) is one of the academic units under the governance of IFT. It provides diversified courses to the general public and has been working closely with local industries and organisations, offering tailor-made training to their staff or members. There is a variety of courses and training of fundamental, intermediate or advanced levels provided by THS. 19,202 participants completed their courses or training in THS last academic year. THS also provides a variety of international qualifications programmes of other international organisations. These organisations are The American Hotel and Lodging Educational Institute (AH&LEI), CIBTAC, Master Sommeliers, IATA, The International Bartenders Association (I.B.A.), LCCI, Le Cordon Bleu, Servsafe® and The Wine & Spirit Education Trust (WSET). By offering the international qualifications programmes, IFT offers opportunities for those who are eager to further studies and acquire international qualifications, as well as enhancing the service quality of local talents. Institute for Tourism Studies hopes to provide the public with a wide range of choices for continuous studies. It offers a variety of international qualifications programmes and students are winning awards from many internationally qualified assessments. Leong Lai Iong, student of THS, was awarded the LCCI World Gold Medallion for Level 2 Business Administration. She was presented the award at the 2011 Medallion Presentation Ceremony - Medallion Award Winners - Macau on 8 May. Ieong Lai Iong was also awarded the LCCI World Silver Medallion for the Certificate in Level 3 Marketing. Since 2009, Institute for Tourism Studies has been offering individual and diploma courses under LCCI, in the areas of business administration, marketing, accounting, public relations, advertising, retail sales, customer service, business English and information technology. In the academic year of 2011/12 (up till April 2012), passing rate of students is around 85% and the rate of students passed with distinction is 47%. LCCI International Qualifications are among the best recognised and most highly regarded business-related qualifications in the world. There are more than 5,000 training units among 120 countries in the world which provide LCCI courses and over 250,000 students take LCCI qualifications each year. Student who gets the highest mark will be awarded the Gold Medallion and the second one will get the Silver Medallion. Since there are a large number of students around the world taking the examinations and there may be students getting the same mark, so more than one student may get the same award. Leong Lai Iong is terrific about receiving the award and she expressed her gratitude to IFT instructor and also to IFT for providing a platform for the LCCI examinations. Leong Lai Iong has worked and been working as Secretary to General Manager in some organizations for which she experienced different ways of management in different departments. She thinks that these LCCI courses would be helpful for her career development in the future.
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Information from the Statistics and Census Service (DSEC) indicated that a total of 881 new companies were incorporated in the first quarter of 2012, up by 14.7% year-on-year; total value of registered capital soared by 151.0% to MOP199 million. The majority of new incorporations were operating in Wholesale and Retail (327), Business Services (156) and Real Estate (82). There were 583 (66.2% of total) new incorporations registered with capital under MOP50,000 and the value of capital (MOP15 million) made up merely 7.7% of the total; meanwhile, there were 29 new companies registered with capital of MOP1,000,000 or over, and the value of capital (MOP145 million) accounted for 72.8% of the total. In addition, 80% of the new incorporations were limited companies. Capital of the new companies came mainly from Macao (MOP69 million), Taiwan, China (MOP50 million) and Mainland China (MOP27 million). Capital originating from the 9 Provinces of the Pan-Pearl River Delta Region amounted to MOP6 million, with that from Guangdong province sharing MOP5 million. Analyzed by place of residence of the shareholders, 764 new companies were established solely by Macao shareholders, and 101 were joint ventures between shareholders from Macao and other countries or regions. In the first quarter of 2012, number of companies in dissolution totalled 130 and the value of registered capital amounted to MOP31 million, of which registered capital of 48 Wholesale and Retail and 16 Real Estate companies in dissolution accounted for 55.6% (MOP17 million).
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Macau Government Tourist Office (MGTO) kicked off four days of trade, media and consumer promotional events in New York starting May 3, 2012 for key media and trade partners. A series of events including Luckyrice's Grand Feast Dinner and Wall Street Lunch were held to tap the upscale market in the United States. To share Macau's positioning as a world centre of tourism and leisure and provide an overall update on Macau, MGTO hosted two luncheon events: one on May 3 for the travel trade and travel media community at the MOMA (Museum of Modern Art), and another one for key members of the financial sector industry and media on May 4 at the Ritz Carlton Battery Park Hotel, adjacent to Wall Street. To celebrate the 50th anniversary of the Pacific Asia Travel Association (PATA) New York Chapter, MGTO also hosted a Gala Dinner at the prestigious Waldorf Astoria to celebrate this significant accomplishment of the most active regional PATA chapter in the U S. 120 members and guests, including PATA Chairman and MGTO Director João Manuel Costa Antunes, Destination Marketing Department head Betty Fok, MGTO representatives in the U S and leaders from PATA's New York Chapter were present at the dinner. For the second year in a row, MGTO took part in a culinary event Luckyrice, targeted to upscale consumers in the New York area. As New York is considered one of the world's capitals of food, fashion, finance and culture, it is relevant that MGTO participates in this event to introduce Americans to authentic, world-renowned Macanese cuisine. Over 1,350 festival guests took part to taste Macau's unique cuisine. MGTO-USA has partnered with Macau's Institute of Tourism Studies (IFT) to bring Chef David Wong and Chef Raymond Wong to New York for the events. The chefs participated at two Luckyrice events: The Grand Feast and Talk+Taste. The chefs showcased Macanese cuisine to an American audience and enticed them to join the increasing number of Americans heading to Macau every year. In 2011, 196,065 Americans visited Macau, up 4.1% from the previous year. Bringing in authentic chefs to prepare some of Macau's most famous dishes, this event showcased Macau's culinary history and offerings to New Yorkers, giving them even more reasons to visit Macau. On May 4, the chefs prepared Macanese cuisine for 1,000 culinary enthusiasts at the Grand Feast. This feast paired the best of Asian cuisine with an acclaimed line-up of master chefs from Asia, as well as those from the Luckyrice culinary council. Chef David and Chef Raymond participated side by side with New York's most beloved chefs and star chefs from Asian culinary hotspots. The two chefs from Macau provided instructions on how to make two typical Macanese dishes during the Talk+Taste event on May 6. This event featured cooking demonstrations by masters of Asian cuisine as they prepare regional specialties. About Luckyrice: An annual week of festivities, the LUCKYRICE Festival shines a spotlight on Asian culinary culture through eight auspicious events including the Grand Feast, Night Market, Opening Cocktails, Talk + Taste and other tastings, dinners and gastronomic gatherings.
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The dedicated website for the "Precious Moments in Macao" 2012 Photography Competition is up and running, and online submission of works is now open. Anyone who is interested to take part in the competition is welcome to register and submit their works via the website from today till 20 May (24:00). The website serves as a platform to showcase last year's winning entries, to offer an overview of the competition and to allow contestants to register and submit their works online. Do not miss the chance to showcase your works. Please go to the website http://photo.gcs.gov.mo now to register with a few simple steps and upload your works to grasp your chance of winning cash prizes and trophies. Winners of the First, Second and Third Prizes of the "Precious Moments in Macao" 2012 Photograghy Competition will each receive a cash prize of MOP8,000, MOP5,000 and MOP3,000 respectively, in addition to a trophy. A total of 50 Merit Prizes will also be awarded and their winners will each get a certificate as well as a cash prize of MOP500 (Note: the final number of merit prizes will depend on the standard of competition entries). In addition, the Editorial Committee of the 2012 Macao Yearbook will select from the entries the winner of the Yearbook Cover Award, who will get a cash prize of MOP5,000; and 5-15 winners of the Yearbook Full-page Illustration Award will each receive a cash prize of MOP1,000. (The actual number of winners will depend on the number of suitable entries). The competition is co-organised by eight photographic associations and four media associations, namely Photographic Society of Macao, Photography Salon Society of Macao, Macao Association for the Promotion of Photographic Art, Macao Association of Photographers, Macao Multimedia Photographic Art Association, Macao Association of Photographic Art, Macao Camera Lens Art Association, Macao Digital Photography Association, Macao Media Workers Association, Macao Journalists' Club, Macao Journalists' Association and Macao Media Club (listed in no particular order). Winning works and outstanding entries will be featured in a public exhibition, including entries to be used as the cover of the 2012 Macao Yearbook and its full-page illustrations. All photography aficionados are welcome to take part. The date of judging is 3 June 2012.
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Information from the Statistics and Census Service indicated that the total number of licensed motor vehicles reached 208,037 at the end of March 2012, a year-on-year increase of 5%, of which motorcycles (111,717) and light private cars (82,098) accounted for 54% and 39% respectively. New registration of motor vehicles decreased by 3% year-on-year to 4,190 in the first quarter of 2012, with motorcycles and light private cars sharing 51% and 44% of the total. In the first quarter of 2012, number of traffic accidents rose by 7% year-on-year to 3,620 cases, resulting in 1,298 victims and 2 of them were killed. Cross-border vehicle traffic by land between Macao and Mainland China increased by 8% year-on-year to 1,051,932 vehicle trips in the first quarter of 2012, of which vehicle traffic through the Border Gate accounted for 83%. Commercial flight movements at the Macao International Airport increased by 4% year-on-year to 8,846 in the first quarter of 2012, with Mainland China (38% of total); Taiwan, China (28%) and Thailand (11%) being the major routes. Helicopter flights between Macao and Hong Kong (3,243) and between Macao and Mainland China (758) decreased by 18% and 20% respectively. Passenger ferry transport between Macao and Hong Kong totalled 28,265 ferry trips in the first quarter of 2012, down by 8% year-on-year. Concurrently, passenger ferry transport between Macao and Mainland China increased by 15% year-on-year to 6,791 ferry trips. In the first quarter of 2012, seaborne container throughput totalled 27,016 TEU or 19,737 containers handled, up by 16% and 15% respectively year-on-year. Gross weight of seaborne containerized cargo increased by 31% year-on-year to 50,153 tonnes, with 1,494 tonnes of transshipment goods. Gross weight of containerized cargo by land rose by 1% to 9,482 tonnes, including 3,010 tonnes of transit goods. In the first quarter of 2012, outward (3,816 tonnes) and inward air cargo (1,745 tonnes) fell by 24% and 30% respectively year-on-year. Transit air cargo decreased by 9% year-on-year to 891 tonnes. At the end of March 2012, number of mobile telephone users increased by 15% from a year earlier to 1,419,073, whereas fixed-line telephone users decreased by 1% to 165,444. As regards internet services, number of subscribers reached 213,445 and the cumulative duration of usage totalled 153 million hours in the first quarter of 2012, up by 18% and 30% respectively.
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In order to better reflect recent wage levels of construction workers, the Statistics and Census Service (DSEC) releases average daily wage and wage index of local construction workers starting from the first quarter of 2012; meanwhile, the wage index of construction workers has been rebased using 2010 as the base period. Information from DSEC indicated that the average daily wage of overall construction workers decreased by 3.4% quarter-to-quarter to MOP563 in the first quarter of 2012. The average daily wage of skilled & semi-skilled workers (MOP568) fell by 4.2%, while that of unskilled workers (MOP373) went up by 1.9%. Analyzed by occupations, average daily wages of electricians & electrical workers (MOP565) and bricklayers & plasterers (MOP525) decreased by 9.9% and 3.1% respectively over the previous quarter; however, wage of carpenters (MOP569) increased by 8.2%. Furthermore, the average daily wage of local construction workers rose by 1.3% quarter-to-quarter to MOP646. After discounting the effect of inflation, wage index of construction workers was 89.5 in real terms, down by 4.0% quarter-to-quarter; wage index of local construction workers increased slightly by 0.1% to 98.9 in real terms. As regards construction materials, in the first quarter of 2012, the average price of concrete (MOP440 per cubic metre) increased by 8.3% quarter-to-quarter, but that of spiral & round reinforcing steel bars (MOP6,036 per tonne) decreased by 1.7%. The price index of construction materials for residential buildings rose slightly by 0.9% quarter-to-quarter to 120.7.
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Consumer Council conducted its price check on 16 brands of rice from 23 retail spots (including supermarkets and grocery stores) on 2nd May, relevant data has been uploaded to the 'Specific Product Price Information Platform' on the Council's website. The abovementioned survey included 2 Japanese rice brands, 2 Australian rice brands, and 12 Thai rice brands. Survey result showed that selling price of the same brand in different retail stores differed and the price discrepancy ranged from 1.02% to 20.98%. Prices of 'Golden Rabbit (10Kg)' differed significantly in different stores, the lowest selling price recorded was $123.00 while the highest was $148.80, which amounted to a difference of over 20%. Consumers may access the relevant resources on the 'Specific Product Price Information Platform' on the Council's website and make price comparisons. For enquiry, please call 89889315.
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Consumer Council continues to improve its channels for releasing supermarket price data. After launching the "Supermarket Price Information Platform" app for iPhone, the Council extends its service and launches a version for consumers using smart phones running Android. The public are welcome to download both versions of the mentioned app. The Council continues to open up new channels for releasing supermarket price data. Aside from the "Supermarket Price Information Platform" and "Specific Product Price Information Platform" on the Council's website, local mobile phone users can also get access to resources of the latest "Supermarket Price Survey" through WAP channels on their mobile phones. Consumer Council launched its 'Supermarket Price Information Platform' app for iPhone in late 2011, since then, over 24,000 users have downloaded the app and a browsing record of over 1 million has been recorded, this reflects that many consumers now have the habit of making price comparisons on their mobile phones. Consumer Council now launches its "Supermarket Price Information Platform" app for Android for the provision of better service to consumers. Consumers can now search for the platform app in Google play shop, or download it directly from the Council's website (www.consumer.gov.mo). To make it easier for local citizens and tourists to browse its contents, the interface and contents of "Supermarket Price Information Platform" are available in Chinese, English, and Portuguese. "Supermarket Price Information Platform" app provides consumers with retail prices of around 300 kinds of products from over 10 local supermarkets, and consists of 'Supermarket Price Watch', 'Best Price in Town', and 'Shopping Basket' for consumers to browse, compare, and search for their desired items. "Supermarket Price Information Platform" also includes a list of 'Certified Shops'. For enquiry, please call 89889315.
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