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MACAU BUSINESS
Macau I would clear all the squatters in the Outer Harbour companies. What should the strategy be now?
and let you have a new city. I succeeded. I cleared 1,000 Actually, our share price has dropped the least compared
families who then settled in the Outer Harbour. Not easy. I to other gaming stocks. We are also the only gaming
succeeded. I had to build all the resettlement blocks, with company in Macau to propose a dividend for 2008.
the knowledge I got from Hong Kong, in Toi Shan for these Our strategy is still the same: we focus on the business of
families. And I succeeded. It wasn’t an easy job. gaming that we know best and provide an attractive product
I promised to raise the standard of living of the people aimed at a targeted clientele. In response to market
in Macau. I succeeded. I promised them an airport. conditions, we always strive to balance capacity increase
Without me, there would not be an airport. I promised to with reasonably anticipated demand, and to balance
contribute to the building of the Macau-Taipa bridge. So, financing requirements with financing costs and availability.
really I helped them in every way, and I achieved so much
more than what I promised in 1962. People said at that Gaming in Asia is growing. It’s the only part of
time, I can still remember, ‘Don’t believe in Stanley Ho, he the world where the industry has plenty of reasons
is the biggest liar on earth. His capital is his tongue.’ But to be optimistic. But you seem to put your focus
now, I have succeeded in doing more than I promised, and in Macau. Will this change in the medium term?
I am truly very happy. Having been in the gaming industry for nearly half a
decade, I know the Macau market and the Asia market
How exactly did you succeed in winning the very well. My priority and focus is still Macau, but I would
gaming monopoly against other bidders back in also be interested in exploring other areas should
the 1960s? opportunities arise.
I remember that our bid was merely $17,000 more than
the other party. And on top of that, I promised the Eye on Japan
government I would reinvest the profits in society, including
the introduction of high speed ferries, dredging of the Where exactly? In Japan they are talking about
harbour, building of hotels, and contribution to charities. going for casino gambling. Taiwan already took
the first step. Would Japan or Taiwan be a
Five years ago you told me in another interview possibility for investment?
that the new operators could do anything they The answer is yes, especially for Japan. You know, it’s
wanted, except raise junket commissions, also in the blood of the Japanese to gamble. I like Japan
otherwise there would be a war. You were certainly because I speak the language.
proven to be right on the first part as the junkets During the war years, I studied Japanese, it was
were targeted because of the importance of VIP compulsory because I was the supervisor for the
gaming. How confident are you today that government supplies bureau. And for my job, I had to
everyone will play clean and respect the 1.25 master the language to be the supervisor and look after the
percent cap? barter system.
I trust that the government will have rules and The government would give me all the surplus to
regulations to ensure that the cap is enforced. Besides, exchange with the Japanese army, in exchange for food to
Macau is such a small society, anyone who violates the cap supply the entire population of Macau.
can be easily identified. The formation of the Gaming I sold a lot of government surplus equipment to the army
Chamber can also serve as a channel for cultivating mutual in exchange for food for the three years and eight months,
exchange and understanding among the six operators. supplying all of Macau.
You are one of those tycoons who have You are a big property developer in Hong Kong.
everything or at least that is the perception of However, you didn’t follow the same path in
society in general. Is there any thing you really Macau. With the property market expected to get
wanted to achieve but didn’t succeed in? And are strong again in 2010, do you have any plans in
there any outstanding goals you have set for that direction?
yourself? Unlike Hong Kong where real estate is the pillar of the
As I said earlier, all my life, I have loved challenges. So economy, Macau, given its small population, has a limited
every day is a new challenge to me and I enjoy being a property market. My companies STDM and Shun Tak are
lifelong learner. engaged in a number of real estate developments in
What didn’t I succeed in getting? Maybe the fact that I Macau, and have a prominent track record in the Macau
did not complete my university studies due to the outbreak property market.
of war, though I do hold many honourary doctorates from
a number of universities. Hence I always remind the Who’s your favoured candidate for the next
younger generation that knowledge is their life-long Chief Executive?
companion, not wealth. One must be a pure Macau citizen. He cannot be a
Hong Kong man to run Macau; cannot be a Canton man
SJM Dividend to run Macau. He must be a Macau man to manage
Macau, according to the Basic Law. The next chief
The timing of the SJM IPO was not the best and executive has to be pure Macau. The longer history he has
shares have been hurt like other gaming the better.
14 JUNE 2009
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