Although Macao Studio City has a new majority shareholder, the project still has to comply with the development plan approved by local authorities in 2008, the government has stressed. According to a government press release quoted by Macau Daily Times, that includes the development of a film production project. Last week, gaming operator Melco Crown announced an agreement to acquire a 60 percent stake in the Macao Studio City project. In the press release, the government also said it was carefully looking into the issues related to share transferences within companies with approved land concession contracts. “More stringent regulations” will be introduced on this matter as part of the on-going revision of the law that regulates land grants, the press release said. Share //
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