AMCM to further diversify investment portfolio

2014/11/4

From：Macau Business Daily

Macau’s fiscal reserves equities investment has primarily been managed through external fund managers now and are getting good results, said Anselmo Teng Lin Seng, President of the Administrative Committee of the Monetary Authority of Macau (AMCM).
Mr. Teng said that with a substantial increase in excess reserve, AMCM can adopt a comparatively more progressive investment strategy.
The total amount of the city’s fiscal reserves was MOP244.57 billion as at September 30, comprising MOP116.46 billion as basic reserve, MOP125.20 billion as excess reserve and an accumulated investment profit of MOP2.91 billion.
Mr. Teng added that the joint release of zodiac notes for two different years would not necessarily become routine and depended on the year’s situation as well as that at the China banknote printing factory.

Gaming revenue keeps dropping

The Secretary for Economy and Finance, Francis Tam, said October’s gaming revenue would suffer a more than 20 percent decrease compared to the same period last year, but within market expectations.
He said that in the event that gaming revenue dropped five consecutive months, it [still] complies with the government’s anticipation of the sector slowing down and he expected the situation to last for a relatively lengthy period.
Mr. Tam stressed that the government’s fiscal situation wouldn’t be affected due to the abundant fiscal reserves. In addition, the administrative budget for next year is almost finished. The government will adopt a more cautious strategy towards expected income and expenditure.
Both Mr. Tam and Mr. Teng were speaking to reporters on the sidelines of the 40th anniversary celebrations of the Luso International Bank (LIB). The General Manager of the bank, Jiao Yun Di, said LIB has rapidly grown to be one of the major commercial banks in Macau with 11 branches since the handover. At the ceremony, the bank also made a donation of MOP400,000 to Tung Sin Tong Charitable Society and Kiang Wu Hospital Charitable Association.

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