Secretary Leong to supervise Macau Investment and Development Ltd

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Lionel Leong Vai Tac, the Secretary for Economy and Finance, was commissioned by Chief Executive Chui Sai On to supervise Macau Investment and Development Limited effective December 20, 2014, it was announced in the government’s Official Gazette released yesterday.
Macao Investment and Development Limited was established by the Macao Special Administrative Region (94 per cent of shares), Industrial & Commercial Development Fund (3 per cent of shares) and Macao Trade and Investment Promotion Institute (3 per cent of shares). The initial amount of the capital of the company is MOP$400 million, fully subscribed and paid in cash by the shareholders. The company is chaired by Sou Tim Peng.
According to the company’s official website, the business scope of Macao Investment and Development Limited is primarily the conception, management and exploration of space for the establishment of companies and non-entrepreneurial entities, particularly the acquisition, construction, promotion, transfer or leasing of space as well as direct or indirect supportive services provided to clients.
The company is also a shareholder of Guangdong-Macau Traditional Chinese Medicine Technology Industrial Park Development Co., Ltd. Echo Chan Keng Hong, a director of the company, is also the president of the board of directors of the industrial park company. The other shareholder of the industrial park company is the Zhuhai Da Hengqin Investment Co., Ltd.