No more representation

Tai Fung Bank has seen its authorisation to establish a representative office in Shanghai revoked starting from today, a release yesterday from the Office of the Secretary for Economy and Finance announced.
The decision comes after the local bank was granted authorisation in February of 2015 to establish a representative office in Shanghai.
Banks’ representative offices are allowed to look after the interests of the credit institutions they represent and to inform clients about the operations in which they intend to participate, but are not allowed to provide the same services as banking institutions.
In June of this year, Tai Fung Bank opened its first branch in Shanghai, to provide deposits, loans, and insurance, especially for small enterprises in mainland China and Macau, the Shanghai Daily reported at the time.

Reducing tax

Starting from January 1 of next year, the monthly service fees charged by registration and notary services and deposited with the Legal Affairs Bureau (DSAJ) Coffer of Legal Affairs, will be a reduced to 10 per cent, according to an Official Gazette release yesterday.
The decision will reduce the current service tax of 45 per cent, in place since January 1 of this year.
The Coffer of Legal Affairs is an autonomous fund that supports the installation and operations of registry and notary services and of the Legal and Judicial Training Centre, as well as different DSAJ activities.
There are currently 54 private notaries and three public notary offices authorised to work in the MSAR, according to DSAJ data.

Practicing e-commerce

The MSAR Government has authorised Chinese teaching institution Huaqiao University to initiate an e-commerce bachelor degree in the city starting from November, an Official Gazette release announced yesterday.
The degree will be managed in partnership with the Macau Post Work Continuous Education Centre at Rua de Roma in NAPE, an education centre run by the Macau Federation of Trade Unions (FAOM).
The course will include classes in topics such as consumer behaviour, micro- and macro- economics, online management systems and online marketing.

Two tour bus accident victims still hospitalised

Some 60 of the tourists affected by a traffic accident involving two tour buses and a private car departed the MSAR yesterday, while two others remained hospitalised and a third stayed behind to accompany her hospitalised family member, said the Tourism Crisis Management Office. The accident occurred on Avenida Marginal Flor de Lotus in Taipa on Tuesday afternoon, resulting in 57 people being sent to Conde de Sao Januario Hospital, of whom 53 were tourists from Mainland China. Of these Mainland China tourists, 29 were from Hunan, while the remaining 34 tourists were from Shandong, all suffering injuries.

AL electoral commission ready next month

The city’s Secretary for Administration and Justice Sonia Chan Hoi Fan said that an Electoral Commission is expected to be set up next month for the Legislative Assembly elections next year, local Chinese broadcaster TDM Radio reported on Tuesday. The Electoral Commission will include one chairman and five members, an addition of one member compared to the pervious election, the Secretary Chan said. According to the official, this new member will be from the Public Prosecutor’s Office (MP), while the others will follow past experiences – with one judge from the local courts acting as chairman and various Bureau heads as members. The Secretary said the government is still waiting for local courts to recommend candidates to chair the Commission.

Wong: More vehicles to be approved for Hengqin soon

Following the first Macau-licensed vehicle entering the neighbouring Chinese township of Hengqin on Tuesday, the city’s Secretary for Security, Wong Sio Chak, said the scheme for local vehicles to enter the Chinese city will be expanded in stages in consideration of a variety of factors such as the island’s capacity.
The Secretary added that the discussion about the second stage of the scheme will soon take place, affirming that later stages will soon be introduced. According to the official, some 10 local vehicles have been approved to enter Hengqin in the current stage, of which nine drove onto the Mainland island on Tuesday, the first day of implementation.

STDM loses land appeal

Sociedade de Turismo e Diversões de Macau (STDM) lost its court battle to overturn the government’s dispatch, which took back a 968-square-metre parcel of land granted to the company in Estrada de D. João Paulino on Penha Hill. A ruling by the Court of Second Instance released last week reads that the company’s concession over the plot expired in 2013 and thus could not be extended based on the current land law, despite the fact that the Court agreed STDM was not liable for the plot being left idle, but instead the MSAR government, due to its mistakes regarding the plot’s buildable area that led to the company not being able to begin construction on the site. STDM had planned to build a 3-storey villa on the plot.

Sailors need further studies

The MSAR’s Marine and Water Bureau has provided a one-day supplementary course for yacht sailors following the launch of the Zhongshan-Macau Free Yacht Scheme last Wednesday. Some 29 sailors attended the course to further acquire knowledge about sea matters related to the two regions. Qualifications were given out to those who passed the assessment. The Bureau will consider organising more similar courses in the future, depending on the actual situation and needs. According to the regulations relating to the Free Yacht Scheme between the two regions, sailors from the MSAR need to participate in the course and pass the assessment in order to be approved for sailing.