Macau authorities have again granted STDM a 60-month concession to operate the Outer Harbour Ferry Terminal on the peninsula, as per an official gazette announcement.
As part of the deal, STDM is obligated to contribute 18 per cent of its pre-tax profits as a return to the government.
This decision follows a longstanding practice of entrusting the Outer Harbour Ferry Terminal’s operations to STDM.
Unlike new terms and conditions, STDM’s payment to the government will now be based on 18 per cent of its annual pre-tax profits, offering more flexibility in the return mechanism.
The previous agreement, which commenced in November 2018 and lasted 66 months, or about five and a half years, required STDM to make a monthly payment of about MOP 1.8 million to the government, disbursed once every three months.
Earlier this year, the Macau SAR government announced its intention to open the bidding process for the operation of the Outer Harbour Ferry Terminal.
Subsequently, on 27 May, the government published a notice revealing that the secretary for transport and public works, Raimundo Arrais do Rosário, had officially signed a notarised contract with STDM, granting them the right to operate the ferry terminal.
STDM will be required to submit business performance reports on or before 31 March each year.
The contract also introduces safeguards to protect the government’s interests.
If STDM transfers more than 50 per cent of its shares or equity during the concession period, the government reserves the right to cancel the agreement.
Furthermore, the contract emphasises the importance of ensuring fair treatment for employees at the Outer Harbour Ferry Terminal.
STDM is obliged to uphold a minimum wage policy, with compensation for hourly, daily, or monthly wages in compliance with the established minimum wage regulations.
