Gov’t to exercise further control over money injection to publicly owned companies
The government is to exercise further and tighter control over monetary injection and subsidies granted to publicly owned companies as well as other companies that have public participation, government representatives told the lawmakers that compose the First Standing Committee of the Legislative Assembly (AL).
This statement from the government came yesterday morning during a meeting of the committee that is debating the details of the new law regulating the management of companies that have participation from the local government or are wholly owned by it.
In the media briefing that followed the meeting, the president of the committee, lawmaker Ella Lei, told the press that the government has explained that in the future, with this new law, both the wholly-owned enterprises and enterprises with participations of public capital will be carefully evaluated as to the attribution of the subsidies necessary to maintain their normal operations.
Lei also noted that the government further explained that these subsidies will take all factors into account, including the rationality of the annual operation plan and budget, and whether the same type of subsidies has been obtained through the exclusive contract or public service grant contract. The financial status of the companies as well as the operating results from the previous years will also be taken into consideration when granting public money to these companies.
According to the most updated information from the Office for the Planning of Supervision of Public Assets, there are currently a total of 16 publicly owned companies by the Macau Special Administrative Region (MSAR) and another seven companies where the participation of the MSAR is equal to or less than 50%.
Among the ones which the MSAR has 100% of the ownership are the TDM – Teledifusão de Macau, S.A.; the Sociedade para o Desenvolvimento dos Parques Industriais de Macau, Limitada; UMTEC, Limitada (a commercial subsidiary of the University of Macau); Macau Investimento e Desenvolvimento, S.A.; Macau Renovação Urbana, S.A.; Sociedade do Metro Ligeiro de Macau, S.A.; Central de Depósito e Liquidação de Valores Mobiliários de Macau Sociedade Unipessoal Limitada; and Sociedade Orquestra de Macau, Limitada.
