Briefs | Fitch awards Macau AA rating

The Macau SAR’s credit ratings (long-term foreign and local currency issuer default ratings) has been awarded “AA” with a “stable” outlook, by Fitch Ratings. According to Fitch, ratings in the AA category indicate a very strong fiscal position for payment of financial commitments and the capacity is not significantly vulnerable to foreseeable events. Therefore, the expectations of default risk are very low. The rating agency said that the high ratings are underpinned by the city’s robust external position, including a high ratio of net foreign assets to gross domestic product.

Theme park land concession expired

The government has declared the expiration of the concession of a land plot located in Taipa, next to the Estrada Almirante Marques Esparteiro, in front of the Regency Hotel. The land was declared expired because the concessionaire did not comply with the obligation to make use of the land within the period stipulated in the concession.  It was intended to be used for the construction of a theme park known as “Oceanis Park”.

DSSOPT to set up car park anti-flood standards

The Land, Public Works and Transport Bureau (DSSOPT) has planned to establish flooding prevention standards for underground spaces in buildings. The first draft has already been completed, and will be put out for public opinions in the near future. The standards request the concerned party to conduct flooding risk assessment, and to set up permanent and flexible flooding prevention facilities. The standards will also require a regulated height for electricity supply facilities, as well as automatic power-cut facilities when buildings are faced with flooding.

298 road works to be carried out next year

A total of 298 road works are planned to be carried out across town in 2019, the Transport Bureau (DSAT) announced earlier this week. The figure represents a 3 percent decrease compared to that of this year. Some 57 projects will involve main roads and streets, an increase of 42 cases from 2018. The DSAT expects the road works to place a certain level of pressure on Macau’s transportation since there will be more large-scale civil projects when compared to this year.