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Monthly Archives: June 2008

Stanley Ho eyes Angola partnership

Gaming mongul Stanley Ho Hung-sun is in talks with Angolan state-owned Sonangol to create a partnership that will pave the way for more Chinese investments in the oil-rich African nation, Reuters reported yesterday.
According to the newsagency, who cited Portuguese business daily in Portugal Diario Economico, a spokesman for Ho said the casino magnate would soon create a holding company, called Geocapital, that would seek investments in the southwestern African nation's energy and banking sectors. Geocapital will be 51 percent owned by Sonangol and 49 percent owned by Ho.
“The negotiations [with Sonangol] are ongoing and a deal could be reached at any moment,” Ferro Ribeiro, who heads Ho's investments in the tourism and gaming industry in Portugal, told the paper.
Ho recently bought bank Montepio Geral in Guinea Bissau and launched another small bank, Moza Banco, in Mozambique on Monday.
Both banks are based in former Portuguese colonies.
“The goal is to use Macau as a privileged structure to attract Asian businessmen interested in investing in big projects that are being launched in Portuguese-speaking Africa,” he said, according to Reuters.

Gov’t, lawmakers disagree over uncategorised organisations’ right

Gov't, lawmakers disagree over uncategorised organisations' right to vote

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Meanwhile, lawmakers also demanded the government to list what kind of contents and requirements are for the activity reports eligible legal persons have to submit to the government every year after being qualified for their voters status, Ms Kwan said.
The reports will be served as a reference of whether or not the government will renew voters qualification after a five-year validation period.
Ms Kwan said the standing committee suggested that the government could change the name of "activity report" to "annual report" in the bill and so legal persons can follow the requirements stated in the Civil Code to prepare the reports.