Macau (MNA) – Macau Development Bank Limited (MDB), authorised to operate in the territory by the Chief Executive last October, will have as president local businessman and member of the Executive Council of the Government, Liu Chak Wan, Macau News Agency has learned.
Liu is the chairman of Liu’s Commerce & Industry LTD and according to his online resumé, “he has established more than 10 enterprises in different sectors, including Transmac Transportes Urbanos de Macau SAR L and Liu’s Technology Ltd.
In 2000, Mr. Liu and his friends founded the Macau University of Science and Technology (MUST), with the businessman currently the Chancellor of MUST and the Chairman of the Administrative Committee of the MUST Foundation.”
He is also a been a member of the 8th to 12th National Committee of the Chinese People’s Political Consultative Conference (CPPCC) and a member of the standing committee of the 11th and 12th CPPCC.
Since 1999, he has served as a member of the 1st to 4th Executive Council of Macau SAR government.
In 2017, Liu Chak Wan was involved in a controversial mega-deal, when it was learned that
Macau Foundation has bought a mansion in Lisbon, Portugal, from one of its board of trustees, Liu Chak Wan precisely.
The purchase, for MOP70 million (US$8.6 million), was proposed by Liu to Macau Foundation and finalized in 2016, having never been announced to the public.
The MDB will have two vice presidents: Liu Cai Seng, a manager of Macau, and Mao Yumin, a Hong Kong resident, who will simultaneously serve as deputy chairman and chief executive officer of the bank.
The fact that Liu Chak Wan is the chairman of the bank and five of the four managers are from Macau seems to indicate that the MDB is a local project and not a China Development Bank initiative, one of three policy banks of the PRC.
This deduction is reinforced by the fact that two of the five administrators are residents in the same building in Macau – that is, it is unknown whether there is capital from China, but at least there are no administrators from the Mainland.
In the list of the social bodies of the MDB, recently published, the name of the lawyer Leonel Alves, former legislator and also member of the Executive Council, appears as secretary of the Supervisory board.
