Macao Water doubles expected profit

Nacky Kuan, executive director of Macao Water

The Macao Water Supply Company (Macao Water) has announced its 2017 financial results, recording an after-tax profit of MOP77.5 million, far higher than its preliminary expectation three weeks ago.

The company released its preliminary results at the start of the month, hoping to cash a profit of MOP70 million for last year, which would have marked an increase of 7.5 percent compared with 2016.

The revised figure of MOP77.5 million indicates an annual increase of approximately 19 percent in the company’s profits.

Some MOP50.61 million of the profit resulted from its main business, the water supply service, which has seen a decrease of 3 percent when compared to 2016, according to Macao Water.

Meanwhile, for the year of 2017, total investment amounted to MOP233.3 million, with the company’s main projects including the preliminary costs and fees regarding the construction of the Seac Pai Van water treatment plant, the laying and replacement of the water supply pipeline network, the replacement of water supply facilities and the development and improvement of the production and operation systems.

Macao Water expects the total investment amount in 2018 to rise to MOP400 million, mainly for projects such as the Seac Pai Van water treatment plant, a part of the pipeline of the fourth raw water pipe from Zhuhai to Macau, as well as strengthening and enhancing precautionary measures in all water treatment plants against typhoons and flooding.

Annual water consumption in 2017 increased by 2 percent compared with the previous year to 88.44 million cubic meters, which was in line with the firm’s expectations.

Water consumption on the Macau peninsula accounted for up to 63 percent of Macau’s total water consumption, having recorded a slight increase of 0.9 percentage points when compared with the previous year.

Meanwhile, Taipa, Cotai, Coloane and the University of Macau’s (UM) campus on Hengqin island accounted for 37 percent of water consumption in the territory, a proportion that reflects a 4 percentage point increase when compared to 2016. The increase was led by the demand in the Cotai area, which expanded 6 percent over the course of 2017.

The daily water consumption now stands at 242,300 cubic meters, according to the company.

Delegation visits fourth water pipeline construction works

IN ORDER to better understand the circumstances surrounding the construction of the fourth raw water pipeline connecting Macau and Zhuhai, Macao Water sent a delegation to the Marine and Water Bureau of the MSAR government (DSAMA) this week. There, the delegation was briefed on the ongoing commitments regarding water supply between the local government and the corresponding authorities in Guangdong Province. “Upon the completion of the two Guangdong-Macau water engineering projects, the protection of the raw water supply in Zhuhai and Macau will undoubtedly be further enhanced, thus effectively safeguarding the water supply and ensuring [Macau’s] sustainable development,” executive director of Macao Water, Nacky Kuan, said during the event.