Gov’t to renew contract with CTM

The Bureau of Telecommunications Regulation revealed that the MSAR government will automatically renew the concession contract with local telecommunications operator Companhia de Telecomunicações de Macau, S.A.R.L. (CTM) for a further five years, if CTM does not violate the legal terms or damage public welfare, local broadcaster TDM Television News reported. The Bureau stated that the government will continue monitoring CTM’s operations, in order to ensure the protection of assets. According to the terms of the contract, CTM is required to provide a special assets property inventory to the government, as well as to inform of any improvements and replacement of assets. Once the contract is renewed, the next expiration date will be extended to the last day of 2021.