The Social Security Fund (FSS) announced the list of special allocations from the budget surplus of 2018 for the non-mandatory central provident fund system yesterday. According to the Fund, this year a total of 363,382 people are included on the list and 149,924 people are not. To be included on the name list, a person must be a permanent resident of Macau SAR, be 22 years of age on or before December 31, 2017, and have stayed in Macau for at least 183 days in 2017. No formalities are required for those who are already on the list to be allocated MOP7,000. For individuals who are entitled to the allocation of these funds for the first time, they will also be allocated the incentive basic fund of MOP10,000.
Residential mortgage loans dropped in April
According to statistics released today by the Monetary Authority of Macao, in April 2018, new approvals of residential mortgage loans (RMLs) dropped while those of commercial real estate loans (CRELs) increased. With regard
to the outstanding balance, both RMLs and CRELs witnessed monthly increases. In April 2018, new RMLs approved by Macau banks decreased by 35.4 percent month-to-month to MOP4 billion. Meanwhile, new CRELs rose by 44.4 percent month-to-month to MOP8.4 billion, mainly driven by new loans granted to enterprises collateralized by commercial buildings. As at end-April 2018, the outstanding value of RMLs was MOP191.4 billion, up by 0.5 percent from a month earlier or 4.4 percent from a year ago. The outstanding value of CRELs was MOP190.9 billion, up 1.7 percent month-to-month or 12.6 percent year-on-year.
UnionPay withdrawal having minimal impact
Macau’s gross gaming revenue totaled MOP8.5 billion for the first 10 days of June, according to a report by Citigroup. This figure suggests that the removal of UnionPay terminals from some casinos is having a minimal effect on the gaming economy. According to the investment bank, the daily run rate of the first third of the month is approximately MOP850 million, up from about MOP822 million for the same period in May. The report also noted that the “VIP luck factor” is heading back to a normal level, while the mass-market segment is projected to register a month-on-month rise. Meanwhile, JP Morgan says it expects 17 percent year-on-year growth for gross gaming revenue in June, equivalent to a daily run rate of MOP750 million, mainly due to the impact of the FIFA World Cup.
TIS Grade 4s to hold chapter books launch
The International School of Macao (TIS) Grade 4s will hold their “History of Macau” chapter books launch on June 15 from 1 p.m. to 2.30 p.m. in the TIS Elementary Library. Students have created their chapter books highlighting specific periods of Macau’s history. The book launch event, titled “Bringing History to Life”, will provide the opportunity for the public to meet the authors, listen to book readings and take “green screen” pictures.
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