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Macau foresees robustlong-term growthThe Special Administrative Region of Macau has attractedmuch press lately and all for the right reasons.

The facts and figures arevery impressive. Drawing inmore than 27 million visitorslast year, Asia’s newestboom town edged out Sin-gapore in terms of touristarrivals. Also, it generatedmore gaming dollars thanLas Vegas.

Part of the credit must goto the Macau Trade and In-vestment Promotion Insti-tute (IPIM), the governmentagency tasked to bring inmore investment to the re-gion.

Recently, World Eye Re-ports spoke with Lee PengHong, the president of IPIM,about the region’s perfor-mance and plans to stayahead of the game.

WER: What is the current commercial climate in Macau? Inwhich industries do you see the most growth potential?

Lee Peng Hong: We’ve seen a magnificent increase in the for-eign investment inflow to Macau. As foreign investment in infra-structure and other industries, such as tourism, conventions andexhibitions, and transport surges, Macau is heading on its way todevelop into an integrated regional tourist center of Asia.

Emerging sectors include that of the C&E (convention and exhi-bitions), retail, cultural/touristic, logistics, and various business sup-port systems are showing their vitality in the booming marketplace.

The development of the C&E industry constitutes an integral partof building Macau into a regional service platform as it not onlycontributes to the addition of new tourism elements, but moreimportantly helps to enrich the content of the service industry inMacau. The number of venues has doubled during the last year,with convention and exhibition space tripling to 140,000 sq. metersafter the opening of the Convention Center in the Venetian.

What presence does Japanese investment currently have inMacau, and what types of opportunities are available for theJapanese to invest now and in the future?

Our new ‘‘Investor Service Department’’ offers a one-stop, full-service, step by step plan that provides support and assistance toforeign investors.

We received more than 110 investors from Japan since 2000 andJapanese investors are the top five inquirers in terms of the origin ofthe investors in IPIM. More than 10 percent of those investors, suchas Sumitomo Bakelite and JTB, have implemented their investmentthrough the assistance and guidance of our one-stop service. Mostof the investors are from manufacturing, trading, F&B, tourism, pro-fessional service, construction, IT sectors and so on.

Tell us about any initiatives or events that the IPIM hasplanned to encourage foreign investment in Macau in 2008.

IPIM will organize the 13th Macau International Trade and In-vestment Fair (MIF). Our 12th MIF, held last October, featured 889booths, and attracted 52,576 visitors and 236 delegations fromover 50 countries and regions.

The MIF is the largest trade and economic event held annually inMacau. It is the ideal congregation point where foreign investors areable to find business opportunities in the thriving economies ofMacau, mainland China, Portuguese-speaking countries and more.

With more local and international airlines operating direct flightsbetween Macau and Japan, and Macau residents being able tovisit or travel to Japan without a visa requirement, we believe thesocial and economic connections between Macau and Japan willbecome closer.

How does the IPIM hope to see Macau in 10 years? What isyour institution’s vision for the city?

Macau is an ideal place for investors as it is a completely openmarket with advantages of low operational costs, low taxation,improved infrastructure, extensive international links, and a stablebanking system and high mobility. Macau is a free-trade port and aseparate customs territory with open economic policy.

While maintaining its historical ties with the European Union,Macau is also strengthening economic and trade cooperation, andinteraction with Japan, Singapore, South Korea, Hong Kong andTaiwan in order to play a better role as a bridge for cooperationamong mainland China, the above countries and the regionaleconomies. xwww.ipim.gov.mo

Cheers to MacauFor most travelers, no holiday is complete without sampling the local brew.

Thanks to Macau Beer President Kenya Matsuura,the homegrown beer has been the preferred choice ofvisitors enjoying the city’s casinos, resorts, bars andrestaurants.

Founded by two Americans in 1996, Macau Beer wasacquired by Japanese giant Kirin in 2002. Since theacquisition, Matsuura has transformed the brand fromone that was barely known to one that now enjoys brandrecognition among 98 percent of the population.

Kirin Beer produces and distributes three brands (Ki-rin, Haizhu and Macau Beer), of which Haizhu is themost popular.

But the company chief hopes that Macau’s aggres-sive marketing and booming tourism industry willchange that in the years to come.

Matsuura has designated each of the three brands fora specific segment in the market. While Kirin is sold onlyin Japanese restaurants and Haizhu in grocery stores,Macau Beer will be distributed exclusively in casinosand hotel establishments.

Envisioning the brand as ‘‘the am-bassador of Macau,’’ Matsuura iskeen to see his product become themost popular beer in Macau.

‘‘Making the beer well knownamong tourists will boost the interna-tional recognition of the brand,’’ hepoints out.

The company also has a secondproduct under the brand — a maltbeer targeted for the local palate thatMatsuura describes as having ‘‘a verylight, malted flavor.’’

In the first six years of operation,Macau Beer was operating at a loss.Last year, it tripled revenues with thetwo brands equally accounting forsales.

This year, Matsuura hopes tolaunch a third Macau Beer product byJune. xwww.macaubeer.net

Keeping the jet set in mindThe rapid growth and aggressive marketing of Macau has resulted in a surge in demand forluxury goods, services and establishments catering to the Asian elite traveler.

What was once described asa sleepy Portuguese fishingtown has become a major tour-ist destination that brought inmore visitors than Singaporeand Thailand, and generatedmore gaming revenue than LasVegas in 2006.

Riding on the huge influx ofhigh rollers and jet-setters, JetAsia has positioned itself as thepreferred mode of transporta-tion for the hot spot’s super-class visitors in a new era forMacau tourism.

In the few years following theend of the gaming monopoly,the government issued new li-censes and allowed the entry ofAmerican gaming giants SandsCorp. and Wynn. Since then,the city has subsequently seena surge in foreign direct invest-ment.

‘‘What you see now is justscratching the surface,’’ prom-ises Jet Asia CEO ChuckWoods.

The increasing competitionacross all sectors serves as thecatalyst for Woods’ vision forJet Asia, which dubs itself ‘‘theAir Limousine of Asia,’’ withservice delivered by ‘‘a stream-lined rationalized fleet of execu-

tive charter jets with a consis-tent VIP deliverable in-flight ex-perience.’’

Jet Asia’s service has be-come synonymous with luxuryprivate aviation, and an in-creasingly crucial business toolfor elite clients, as it flies in bigspenders from Tokyo, Shang-hai, Singapore, and anywherein between.

Woods sees big things for the

small but growing company, in-cluding the acquisition of a fleetof up to 25 executive jets andthe promotion of its aircraftmanagement services. Current-ly, the company is awaiting thearrival of three additional Hawk-er jets, one of which is ear-marked for Tokyo.

Becuase of the rapid growth

of Jet Asia’s fleet, Woods haschosen to exclusively subcon-tract the airline’s charter salesand marketing to OrientSKYs.Headquartered in Bangkok,with client services offices lo-cated throughout the region,OrientSKYs is the only VIP pri-vate jet provider serving Asianmarkets with a 24-hour charterquote response and the largestsingle fleet operating in the con-

tinent. ‘‘Our growth is mirroringthe economic condition of Asia-Pacific,’’ says Woods, who be-lieves that the company’s po-tential is limitless as it plans tocater to clients in mainland Chi-na. ‘‘When the time is right, wewill be in China,’’ he promises.xwww.jetasia.com

12 THE JAPAN TIMES A SATURDAY, MARCH 8, 2008 Special Economic Reports (3)

WORLD EYE REPORTS

MACAU

The ruins of St. Paul’s have become an iconic symbol ofMacau, which has been promoting its rich cultural heritageamid rapidly growing popularity as a gaming destination.

Macau Beer President Kenya Matsuura and its brewingplant

Jet Asia’s recently refurbished Challenger 601 can accommo-date 10 passengers and fly up to 4,800 km non-stop.

Asia’s newest hot spot edgesout old-time tourist destinationsLike the proverbial big thing that comes in a small package, the Special Administrative Region of Macau has attracted thelargest names in the tourism, gaming and entertainment industries in the last few years.

Much smaller than Las Ve-gas, Macau has attracted morevisitors and generated morerevenue than the U.S. gamingmecca. In fact, its rapid growthhas prompted Wynn and theVenetian, among many otheroutside players, to set up shopin the region.

Once a sleepy little fishing vil-lage whose inhabitants praisedthe goddess A-Ma, the protec-tor of fishermen, Macau’s loca-tion by the tip of one of the old-est civilizations caught the eyeof many travelers. The Portu-guese established their first set-tlement in the 16th century,naming their enclave A-Ma-Ngao, the ‘‘harbor of the god-dess A-Ma.’’

Macau was the oldest Euro-pean colony in China and EastAsia until its handover in 1999.Today it is one of the two spe-cial administrative regions ofChina — the other being HongKong — that has been attract-ing global investment.

Traditionally, the region’s topindustries were textiles, elec-tronics and toy manufacturing,but deregulation of the gamingindustry transformed this back-water into the hot spot that it istoday filled with world-class ho-tels, casinos, resorts, restau-rants, venues and events.

While the gaming industrybrought in the glitz to Macau,the city possesses significantcultural heritage that is still evi-dent in many places.

While various places mayboast of a Chinatown, Macauhas what might be called a Eu-rotown, an area with cobbledstreets and magnificent Euro-pean architecture in the heart ofthe city. The blending of West-ern architecture with traditionalChinese houses and temples isunique, and shows clearly thata unification of cultures can be

aesthetically harmonious.

No gamble for investorsGambling is nothing new in

Macau. In fact, it is deeply in-grained in Macanese culture aslicensed gambling has existedsince the 1800s.

For nearly the last half of thecentury, the industry was mo-nopolized by Sociedad de Tur-

ismo e Diverso es de Macau,headed by one of Macau’s larg-est investors, Stanley Ho.

When the government-issuedmonopoly was lifted, casinos,mainly from the world’s gamingcapital, Las Vegas, came toseize the opportunity.

Today 70 percent of Macau’sgovernment revenue comesfrom the taxes that casinos pay.In 2006, even before the arrivalof gaming mammoths, the Ve-netian and MGM Grand, which

both opened in the last quarterof 2007, the gambling revenuesof Macau’s casinos surpassedthose of its Las Vegas counter-parts.

As casinos grew, so did tour-ism and other related indus-tries, such as high-tech slot ma-chine manufacturers, spas andresorts, and even industriallaundry providers.

Players in the gaming indus-try that have no stake in Macauare surely missing out.

‘‘In 2003, there were lessthan 1,000 slot machines,which produced less than 2 per-cent of total gaming revenue. In2007, there are 11,000, whichproduce 4 percent of total gam-ing revenue,’’ says Ken Jolly,Asia-Pacific general managerof Aristocrat Gaming, which hasa 50 percent market share ofslot machines in Macau.

Rapid growth has alsobrought some challenges, themost pressing of which i s ashortage of labor. This is justwith the opening of the Vene-tian at the Cotai Strip last year.

According to observers, ev-ery time a property opens, it willrequire a few thousand employ-ees. So where will labor comefrom as Macau has a popula-tion of only about half a million?

Not only is there a lack of la-bor but demand for a skilledworkforce needed to smoothlyrun the service-oriented econo-my adds even more pressure.Remarkably, investors havegreat confidence in the Macaugovernment and believe thattheir growth will not be hinderedby this problem.

In fact, nobody expects Ma-cau’s rapid growth to slowdown within the next five years.It is a place where job offersabound and companies trumpeach other with better deals foremployees.

Destined destinationThe World Tourism Organi-

zation has rated Macau as oneof the world’s top tourist desti-nations today. Figures releasedin November 2007 indicatedthat the number of visitor arriv-als reached almost 25 million,representing a year-on-year in-crease of around 26 percent.

‘‘Macau is a unique destina-tion with a unique heritage thathas been recognized by UNES-CO . . . What Macau has to of-fer is the combination of enter-tainment and the heritage as-pect,’’ explains Joa o ManuelCosta Antunes, director of theMacau Government TourismOffice.

More and more world-classhotels, resorts and facilitieshave opened, and are openingin the next couple of years.Some of the casinos and hotelslined up to open include TheFour Seasons, City of Dreams,The Grand Hyatt and The Sher-aton. Ponte 16, which is the re-vitalization of Macau’s nostalgicpier, is also scheduled to startoperations in 2008, with thehelp of Maruhan of Japan.

The newcomers have pulledout all the stops and have keptlong-established Macau hotelson their toes.

‘‘Luxury costs money, andwe will not compromise luxuryto compete with the casinobusiness,’’ cites Michael Zim-mer, Mandarin Oriental Ma-cau’s general manager.

Also new direct flights be-tween Macau and other citieshave been started not only byestablished commercial airlinesbut also by dynamic low-costcarriers.

There are varying thoughtson why the world is watchingMacau. But as Antunes simplyputs it, ‘‘What Macau has to of-fer is the combination of enter-

tainment and the heritage as-pect.’’ Furthermore, he explainsthat Macau has always been acity of opportunities.

‘‘Macau is unique for the mid-dle of Asia. It is compact, a cityof contrasts with supreme foodelements and world-class gam-ing operators,’’ says Con Kor-fiatis, CEO of Viva Macau, Ma-cau’s first and very own interna-tional low-cost carrier. Theairline opened direct flights toTokyo and Ho Chi Minh Citylast December.

Yo Nishiguchi, president ofJTB Macau Travel Ltd., agrees.

‘‘We are reaching a new erain Macau tourism,’’ he says.

‘‘The numbers of touristsfrom Japan are increasing, andwill continue to increase once

there are direct flights to andfrom Japan,’’ shares Antunes.‘‘My dream for 2008 for the Ja-pan market is to see daily flightsto and from Japan linking anumber of Japanese cities toMacau. I want to see not justMacau airlines, but Japanesecarriers.’’

For those who have not yetseen Macau or haven’t visitedrecently, a trip to Asia’s newesthot spot should be on top of theto-do list. Growth in invest-ments has far from leveled off.

‘‘Our goal is to be more inno-vative, slicker and stay aheadof the game. Macau as a wholeneeds to have this goal,’’ saysDon Hunter, managing directorof Menzies Macau Airport Ser-vices. x

A Reprints of this report are available for US$ 2.00 a copy, plus mailing costs. Minimum order of 100 copies. For orders, contact: info@worldeyereports.com, Tel: +1-410-531-6870, Fax: +1-410-531-6872A

‘Our growth is mirroring the economic condition of Asia-Pacific ... When the time is right, we will be in China’

Orient S K Y s is the premier Asian VIP private jet provider,serving its customers with 24-hour quote responses and salesoffices located throughout the continent. It boasts the mostexperienced business jet team in the region, providing a six-star luxury in-flight experience that is only a phone call or amouse click away. www.orientskys.com

The 25-year-old Mandarin Oriental Macau is a city landmark,known for its sublime resort facilities and supreme spa ser-vices. Its wide range of exclusive Macanese spa rituals, name-ly, the Sangria bath, has attracted loyal customers. The Man-darin Oriental is opening a second property in Macau in 2009.www.mandarinoriental.com/macau

Lee Peng Hong, president ofthe Macau Trade and Invest-ment Promotion Institute

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IPIMJoa ˜o Manuel Costa Antunes,

director of the Macau Govern-ment Tourism Office

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Macau Cement Manufacturing Co. Ltd. has supplied many of the region’s biggest projects,including the recently opened Venetian complex (above). One of its plants (top) helps meet thestrong demand for cement in rapidly growing Macau.

First-class fun and leisure for everyone isMelco PBL Entertainment’s game planProperty owner and developer Melco PBL Entertainment Macau Ltd. (MPEL), through its subsidiary Melco PBL Gaming Ltd., has been operating innovativegaming and entertainment resort facilities in what has recently emerged as one of Asia’s most popular holiday destinations.

The two major shareholders of MPEL are Melco International Development Ltd.(a listed company on the Hong Kong Stock Exchange owned substantially byLawrence Ho, co-chairman and CEO of MPEL) and Crown Ltd. (a top 50 companylisted on the Australian Stock Exchange headed by Executive Chairman JamesPacker, also co-chairman of MPEL).

Unlike competing establishmentswhose distinctive attraction is theirsheer size and that have just a singletheme, MPEL has edged out its rivalsby developing a varied portfolio ofbrands that target specific customers.

Since raising over $1.14 billionthrough its listing on the U.S. NASDAQin December 2006, the gaming enter-prise has developed brands that haveredefined the industry and aimed at avery wide range of customers.

On its brand portfolio are the CrownMacau (a six-star hotel, spa and casinofor high-end and VIP patrons), Mocha(cafe-style gaming machine venues)and the soon-to-open City of Dreams(an entertainment and hotel megacom-plex for all market segments).

The Crown Macau — MPEL’s luxuri-ous casino and hotel aimed at high-endpatrons — opened its doors last May. As the tallest building on Taipa Island, it isthe area’s newest architectural landmark.

Then in late January, this premier hotel casino received the Best Casino InteriorDesign Award during the 1st International Gaming Awards held in London. It wasthe first property in Macau to receive such a prestigious international distinctionhonoring its interior design, a huge feat considering it was pitted against industryheavyweights such as the Venetian Macau and the Grand Lisboa.

‘‘Gaming venues traditionally available to high-stakes patrons in Macau hadfocused primarily on intensive gaming during day trips and short visits to Macau.So when conceptualizing the hotel, we wanted the Crown Macau to accommodatethe niche in Macau for a world-class contemporary and non-traditional luxurioushotel casino, and to provide premium entertainment, elegant facilities, high-qualityservice and rich decor to the high-end market,’’ explains Ho.

To make that vision a reality, Ho hired world-renowned interior designer PeterRemedios, the brains behind the Grand Hyatt Tokyo and the Four Seasons NewYork, among many others.

Meanwhile, the VIP floors were designed by Bates Smart, Australia’s oldestarchitectural firm established in 1853, whose work includes in Melbourne theCrown Towers, Crown Entertainment Complex.

Aside from a Cantonese and a French restaurant, the Crown Macau boasts twohigh-end Japanese restaurants, the Kira and Tenmasa, which were designed byYukio Hashimoto and David Sung.

Running this premium hotel and casino property is CEO Greg Hawkins, who inhis early career helped launch the Crown Casino Melbourne. For him, CrownMacau’s exclusive luxury rating speaks of a ‘‘luxuriant experience that is thecornerstone of our business strategy and is upheld consistently in all areas of our

property.’’According to Hawkins, the Crown Macau sets itself apart from the rest of the

industry because of VIP services that cater specifically to the region’s elite gamersand big spenders, and unrivaled attention in every aspect of the VIP experience.

The Crown Macau, which Hawkins brands as the ‘‘best in Macau,’’ features theultraexclusive Sky Lobby on the 38th floor that offers spectacular panoramic viewsof the city. Each guest room features floor-to-ceiling windows that provide all of itsdistinguished guests with views of Macau day and night; just another detail thathighlights the hotel’s commitment to true luxury.

Just halfway into its first year, the Crown Macau is certainly living up to the highexpectations of the industry and guests. From mid-December 2007, the CrownMacau launched an exclusive VIP gaming business promotion agreement thatsignificantly increased the property’s business.

MPEL’s Mocha Clubs have redefined even the term casino itself, by populariz-ing a brand of casual, cafe-style gaming venues, each with its own theme, so that

every visitor can find a Mocha Club thatappeals to him or her. With around1,100 gaming machines in seven loca-tions, the Mocha Clubs are the largestnon-casino-based operators of elec-tronic gaming machines in Macau.

With Mocha Clubs and the CrownMacau, MPEL has covered the non-ca-sino-based gaming machines and theVIP tier of the Macau gaming marketbut it plans to unveil its biggest projectyet, the City of Dreams.

Located on the Cotai Strip, the City ofDreams is designed to be Macau’snewest ‘‘must-see’’ destination devel-oped for a wider market. Two major en-tertainment attractions — Dragone Pro-ductions and the Bubble — will offer anunrivaled entertainment experience.

Due to open in 2009, Dragone will beperforming in a 2,000-seat wet stagetheater designed by award-winning Pei

Partnership Architects. Dragone produced the Disney Cinema Parade at EuroDisney and Celine Dion’s ‘‘A New Day’’ concert in North America.

The Bubble is a free attraction that provides a visual and audio experience.Designed and produced by a team comprising some of the world’s top attractionand special effects artists, the show will combine projected DH-digital content, acustomized musical score, thousands of theatrical lights and a variety of sensoryeffects to create a spectacular 10-minute visual extravaganza.

There will be four lodging towers inside the City of Dreams — the CrownTowers, Hard Rock Hotel and a twin-tower Grand Hyatt. It will also have approxi-mately 13,000 sq. meters of retail space and a wide array of restaurants.

In true Macau style, the complex will also have a 37,800-sq.-meter casino andgaming area with about 450 gaming tables and 2,500 gaming machines. Its firstphase is due in March 2009.

Judging by all these grand plans, it looks like the best is yet to come for Macau. xwww.melco-pbl.com; www.crown-macau.com

Fact FileArea: 28.2 sq. kmPopulation: 456,989Currency: Macau pataca (MOP)Ave. exchange rate: $1 = 7.8(2007)

GDP: $11.56 billion (2005)GDP real growth: 6.7% (2005est.)GDP per capita (PPP): $24,300(2005 est.)

Unemployment: 4.1% (2005 est.)Inflation: 4.4% (2006 est.)

Main industries: Textiles, clothing,tourism, banking, shipping, elec-tronics, plastics, toys, watchesand clocks

Exports: $3.156 billion, includingre-exports (2005 est.)Imports: $3.912 billion (2005 est.)

Major exports: Clothing, textiles,footwear, toys, electronics, ma-chinery and parts

Main export markets (% share): U.S. (44.1%), China (14.8%), HongKong (11.3%), Germany (7.3%), U.K. (4.1%) (2006)

Main import markets (% share): China (45.2%,), Hong Kong (10.2%),Japan (8.4%), U.S. (5.5%), Singapore (4.1%), France (4%) (2006)

Source: CIA World Factbook

Aristocrat: gaming royalty in MacauSince setting up its Asian regional headquarters in Macau in 2006, Australian gaming giant Aristocrat Technologies hasexperienced glitch-free business growth and gained dominance in Asia’s gaming capital, where it now enjoys a market share ofmore than 50 percent.

Aristocrat’s presence in Macau is merely a reflection of its robustactivities abroad. Its systems are installed in over 500 licensedvenues in seven countries, namely, the U.S., Australia, New Zea-land, Singapore, South Africa, Macau and Canada.

According to Ken Jolly, general manager for the Asia-Pacific, thecompany has invested greatly in developing its market regionally,especially with the launching of region-specific gaming machinesthat target Asian players.

Jolly says that games that incorporate an element of Asian cultureare, predictably, very popular in Macau and the rest of the region.

Such games, like 50 Dragons, Choy Sun Doa and Spring Festi-val, which incorporate on-screen Chinese text, were developed forMacanese casino players and patrons, the majority of whom comefrom mainland China and Hong Kong.

Part of this regional and market-specific development involved,of course, the relocation of its Asian corporate base to Macau, theself-proclaimed gaming capital of the East, whose annual gamingrevenues are projected to surpass the state of Nevada’s this year.

For Japan, Aristocrat has developed the Pachislot, a combina-tion of the slot machine and Pachinko machine, which continues tobe popular among Japanese.

Jolly is very excited to be in Macau, which he regards as theideal base for the company to both familiarize and understand thebooming Asian market, and therefore cater to the Asian gamermore effectively with new products and systems. xwww.aristocratgaming.com

Setting down rock solidfoundationsThere’s no denying the dramatic transformation taking place in Macau, especially with themammoth Venetian resort-hotel-casino that dominates the rapidly developing Cotai Strip.

A few newcomers to the stripinclude The Four Seasons, theSheraton and the Shangri-La,all of which are under construc-tion.

Macau Cement was the mainsupplier of cement and con-crete for the Venetian complexand many of the other projectson the strip.

So with the building frenzyhas come an increased de-mand for cement and concretethat has made Macau CementManufacturing Co. Ltd. one ofthe busiest enterprises on theisland.

Marking its 25th anniversaryin 2008, Macau Cement was al-so involved in many of the re-gion’s flagship projects, includ-ing three bridges and the inter-national airport.

With strong support from itsmajor shareholder China CITICGroup, the company is able toproduce 700,000 metric tons ofcement every year.

In partnership with Mitsubi-shi, Macau Cement also pro-duces its own brand cement un-

der the Gold Carp brand.Deputy General Manager for

Production Xu Xin said it hasnot been easy to meet the highdemand for cement, but thecompany has been able to doso through increased invest-ment and the acquisition of fournew concrete plants in the pastthree years.

The company commands a70 percent market share in Ma-cau, where, according to CEOCheng Xiang, demand for theproduct has grown tenfold since2004.

Xu and Cheng believe thatthe demand for cement will lev-el off in the next five years pri-marily due to the limited amountof developable land in the city.

Though Macau’s boom hasbrought great success, Xu saysthe biggest challenge lies incomplying with stricter environ-mental guidelines, including

lower dust emission limits.Cheng stresses that environ-mental protection is a priority ofthe company. xwww.mocement.com.mo

(3) Special Economic Reports THE JAPAN TIMES A SATURDAY, MARCH 8, 2008 13

www.worldeyereports.com / MACAUResearched and written by Marco Lobregat / Produced by World Eye Reports,4518 Rutherford Way, Dayton MD 21036 USA / www.worldeyereports.com

Ken Jolly, Aristocrat Technologies general manager for theAsia-Pacific

Lawrence Ho, co-chairman andCEO of Melco PBL Entertainment

Greg Hawkins, CEO of the CrownMacau

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