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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

Casinos accused of trying to dodge smoking curbs

Union says they are adding more VIP rooms, where smoking will be allowed

Ex-employee’s suit against Sands China boss fails

Court denies Israeli’s claim to 12 pct of Adelson stake in casino operator

Only 14,000 new homes on Hengqin due to hit market

Most will be in Shizhimen Business District, Integrated Services District

Consul-general keen on more US-Macau business

US diplomat says his job is as much about relations with Macau as Hong Kong
Headlines

Holiday reform tipped to benefit Macau tourism

Research house says annual leave for mainlanders would make visiting easier

Sterne Agee expecting flat gaming revenue in 2014

Stockbroker increases its forecast of shrinkage in September gaming revenue

Bank forecasts persistent falls in gaming revenue

Morgan Stanley predicts rebound only in 2015H2 as new casino-resorts open

MGM China employees voice demand for higher pay

But leave dissatisfied after talks between union and govt representatives

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1. Fitch cuts 2014 gaming revenue growth forecast
2. Kam Pek Paradise prepares for new smoking rules
3. VIP gaming predicted to stay weak for rest of 2014
4. Analysts remain bullish about Macau gaming stocks
5. MGM Resorts Intl aims to borrow cheaply in Japan
 
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