MACAU, Oct. 22, 2021 /PRNewswire/ -- Sands China Ltd. is launching a financial support programme for its local SME suppliers, in support of the Macao SAR government's relief package that includes eight measures to assist struggling SMEs amid the pandemic.
In support of the Macao SAR government’s relief package that includes eight measures to assist struggling SMEs amid the pandemic, Sands China Ltd. is launching a financial support programme for its local SME suppliers. The programme aims to help local suppliers navigate the challenging business environment arising from the pandemic by easing their cash flow pressures amidst operational challenges.
The 2021 SME Expedited Payment Programme aims to help all Sands China's local SME suppliers – whom the company views as its strategic partners – navigate the challenging business environment arising from the COVID-19 pandemic by easing their cash flow pressures amidst operational challenges.
The ongoing pandemic has caused economic shock waves across the globe, and SMEs are particularly vulnerable to the impact of COVID-19. Upholding the business philosophy of supporting the growth of local SMEs, Sands China proactively contacted all its SME partners by phone at the onset of the pandemic, to better understand their financial and operational challenges and needs.
After already offering advance payments and swifter invoice processing to SME suppliers in need in the aftermath of Typhoon Hato back in 2017, Sands China is once again extending additional support to local SME suppliers – with its SME support programme.
Between Nov. 1, 2021 and Jan. 31, 2022, Sands China's SME partners can apply for the 2021 SME Expedited Payment Programme in order to have their payment terms shortened from the current 30 days to seven days. Eligible SME partners can apply by email to SME_Info@sands.com.mo or eva.wong@sands.com.mo. Once the application is approved and becomes effective, payment terms for new orders and contracts will be reduced to seven days throughout the duration of the programme. For more details, please visit: https://www.sandschina.com/the-company/SME-Support.html.
"Over the past 17 years, Sands China has been forging ahead hand-in-hand with local businesses," said Dr. Wilfred Wong, president of Sands China Ltd. "Although the pandemic has hit Macao's economy hard, especially its tourism industry, we have not forgotten our roots, and are as committed as ever to supporting local enterprises as part of our corporate social responsibility efforts. After bringing back the Sands Shopping Carnival for a second year, we are now launching this SME support programme – expected to involve up to MOP 350 million – in an effort to address the operational and financial challenges facing local SME suppliers today. And come rain or shine, we will continue to walk alongside Macao's local SMEs."
Sands China's success and the success of Macao go hand-in-hand. The company has been investing back into the community that it serves to help it thrive and grow, contributing to the development of local enterprises along the way. In 2020, 89 per cent of Sands China's total procurement amount went to Macao enterprises, demonstrating the company's commitment to supporting local enterprises as part of the company's corporate social responsibility efforts.
About Sands China Ltd.
Sands China Ltd. (Sands China or the Company) is incorporated in the Cayman Islands with limited liability and is listed on The Stock Exchange of Hong Kong Limited (HKEx: 1928). Sands China is the largest operator of integrated resorts in Macao. The Company's integrated resorts on the Cotai Strip comprise The Venetian® Macao, The Plaza® Macao, The Parisian Macao and The Londoner® Macao. The Company also owns and operates Sands® Macao on the Macao peninsula. The Company's portfolio features a diversified mix of leisure and business attractions and transportation operations, including large meeting and convention facilities; a wide range of restaurants; shopping malls; world-class entertainment at the Cotai Arena, The Venetian Theatre, The Parisian Theatre, the Londoner Theatre and the Sands Theatre; and a high-speed Cotai Water Jet ferry service between Hong Kong and Macao. The Company's Cotai Strip portfolio has the goal of contributing to Macao's transformation into a world centre of tourism and leisure. Sands China is a subsidiary of global resort developer Las Vegas Sands Corp. (NYSE: LVS).
For more information, please visit www.sandschina.com.
Media contacts:
Corporate Communications, Venetian Macau Limited
Mabel Wu
Tel: +853 8118 2268
Email: mabel.wu@sands.com.mo
Jesse Chiang
Tel: +853 8118 2054
Email: jesse.chiang@sands.com.mo
