Typhoon “Hato” causes losses of US$1.425 billion in Macau

7 September 2017

Typhoon Hato’s passage through Macau left losses estimated at 11.4 billion patacas (US$1.425 million), Economy and Finance Secretary Leong Vai Tac said on Wednesday.

The secretary stressed that this is a preliminary estimate and added that the passage of “Hato”, the strongest typhoon of the last 50 years, caused 8.3 billion patacas in direct damages and 3,16 billion patacas in indirect damage.

He added that the overall amount was compiled by the Statistics and Census Bureau, based on data also provided by the Monetary Authority of Macau, the Civic and Municipal Affairs Bureau and the Macau Gaming Inspection and Coordination Bureau.

Leong Vai Tac also said 10,544 requests for support from small and medium-sized enterprises had been received by the Macau Industrial Development and Marketing Fund by last Tuesday, with 3,146 approved, involving a financial effort of 157 .3 million patacas.

Macau’s small and medium-sized enterprises suffered economic losses estimated at 3.6 billion patacas, or 344,000 patacas per affected unit.

By last Monday insurance companies had received 1,284 applications for compensation, and the amount payable is expected to reach 2.42 billion patacas.

The secretary for Economy and Finance added that there were also 56 requests related to work accidents, with the amount to be reimbursed estimated at 1.03 million patacas.

Insurance companies have already paid out 11.26 million patacas in compensation for two fatalities and 25 related to accidents and miscellaneous damage, said Leong Vai Tac. (macauhub)