17
Bank deposits
up 0.3 percent
Macau’s total bank deposits, including
those of residents and non-residents,
increased slightly by 0.3 percent month-
to-month to 252 billion patacas (31.9
billion u.S. dollars) last November,
according to the figures released by
the Monetary authority. The figures
show that resident and non-resident
deposits amounted to 180.7 billion
patacas (22.9 billion u.S. dollars) and
71.2 billion patacas (nine billion u.S.
dollars) respectively in November 2008.
The shares of patacas and HKD in
total deposits were 20.5 percent and
46.7 percent. attributed to the faster
decline in resident deposits, the loan-to-
deposit ratio for the resident sector at
end-November rose by 0.4 percentage
points month-to-month to 47.9 percent Polytech’s
while the ratio for both residents and
non-residents stood at 57.6 percent,
down 2.5 percentage points. Domestic
credit to the private sector shrank 1.3
percent month-to-month to 92 billion
got game
patacas (11.6 billion u.S. dollars), of
which 18.4 billion patacas (2.3 billion A team of Mainland students from the Macau Polytechnic
u.S. dollars) was pataca-denominated
and 66.2 billion patacas (8.4 billion
Institute won the local heat of the Global Management
u.S. dollars) was denominated in
Challenge and will be representing the Macau SAR
HKD, representing 20 percent and
71.9 percent of the total respectively.
in the 2008 International Final of the competition
Meanwhile, external credit also saw a
to be held in Portugal later in April
decline by 7.3 percent to 55.9 billion
patacas (7.08 billion u.S. dollars), of
which credit denominated in patacas
and HKD accounted for 1.8 percent and
47.3 percent of the total respectively, T
eam ASAP, a university student Guangdong Province, is keen on putting
team of five Mainland undergradu- team ASAP’s managerial skills up against
ates from the Macau Polytechnic those of other countries and cultures. Wen,
the authority said. Institute, will be flying off to Portugal to who serves as the internal secretary of the
defend Macau’s Global Management Chal- Macau Polytechnic Institute Student Un-
20,000+ residents
lenge Champion title won in the last edi- ion, School of Business, admits that while
tion of the competition. After more than we live in a global economy, business
listed to vote
two decades as a participant in the Global strategies and corporate governance dif-
Over 20,000
Management Challenge (GMC), Macau fer from one culture to another. “In China
Macau permanent
brought home its first global champion the success of a business greatly depends
residents have
trophy last year from Bucharest where the on relationships and the size of the net-
registered as
voters after the
2007 International Final took place. work” she told Macau Business. On the
new election laws
The Global Management Challenge other hand, and from what she could ab-
were passed in
is a strategy and management simulation sorb during her stay in Macau, local busi-
October. The
where teams of up to five members run a nesses “depend much more on their man-
newly enacted stock listed company competing to achieve agement skills and the benefits they can
Voter registration
the highest share price in their market by bring to their business partner.” It was the
Law, Chief
making decisions in five key areas: Human first time any of the five members of the
executive election Law and Legislative
Resources; Production; Sales and Market- team had entered the competition and the
assembly election Law took effect on
ing; Accounting and Finance. Teams can first time the Macau Polytechnic Institute
October 15 and states residents aged at
least 18 have the right to vote, irrespective
follow any composition: pure students and was represented in the Macau heat of the
of nationality or place of birth, and those
manager teams, or mixed teams, a recent Global Challenge.
aged at least 21 have the right to stand for
favourite among large international corpo- The GMC local heat is organized by
election. This comes as elections for the rations participating in the event. the Macau Manager Association, which
Sar’s new chief executive and legislative
Macau champion Krystal Wen, from has also taken the Hong Kong edition
assembly takes place this year.
february 2009
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