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ISSUE 118 - Feb 2014
 
 
What are your expectations for the gross gaming revenue growth of Macau’s gaming industry in 2014?
Decline
Growth above 10 percent
Growth from 0 to 10 percent
Stagnation
 
 

Cross-border cash flow controls mooted: report


Posted: 7/5/2013 12:24:15 PM
Rating:     0% ( votes)
  

Financial Intelligence Office director Deborah Ng Man Seong says the government is considering a new arrangement for declaring cash when crossing the border, reports the Portuguese news agency Lusa.

Lusa quoted Ms Ng as saying the government was “analysing the feasibility of implementing a declaration or notification requirement” of certain amounts to meet recommendations by the international Financial Action Task Force on Money Laundering.

There is no schedule in place for introducing the changes.

Ms Ng said although money laundering was a crime here, there was no criminal sanction for failing to declare funds carried across the border or for lying to officials.

Beijing bans mainlanders from bringing more than RMB20,000 (MOP26,000) into Macau.



Other Macau Latest News

Macau international trade, investment fair opens

Attended by people from over 50 economies, some never before represented

September visitors increase by 3 pct to 2.41 mln

More tourists come from the mainland, but fewer from Hong Kong or Taiwan

Round-the-clock border opening expected soon

Mainland authorities preparing facilities on their side of Hengqin crossing

Govt opts for Avenida 24 de Junho route for LRT

Transportation Infrastructure Office accepts architect’s waterfront idea
Headlines

Tam expects gaming revenue to keep falling

Economy secretary says declining trend of revenue may persist until 2015H1

Galaxy Entertainment scraps apartment hotel plan

The expanded Galaxy Macau is set to have a bigger five-star hotel instead

Analysts envisage mass-market gaming predominating

Predict mass market will soon contribute over half of casino gaming revenue

Jimei boss fails to buy all of Sinogreen Energy

Owners of 0.005 pct of Sinogreen Energy stock accept mandatory cash offer

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