Melco International Development Ltd (00200) announced that on 23 October 2026, its indirect subsidiary Melco Macau entered into a limited partnership agreement and a subscription agreement to subscribe for an interest in the fund, a Macau government-guided fund, with a total capital commitment of MOP 828 million (equivalent to approximately HK$803 million), representing about 9.2% of the total commitment of all limited partners of MOP 9 billion (equivalent to approximately HK$8.73 billion).
Melco Macau will inject capital into the fund to further fulfill its non-gaming investment obligations under its concession contract. The fund was established by the Macau Special Administrative Region solely for specific policy purposes. The fund's term runs from the closing date until the fifteenth anniversary of the closing date, unless extended under the limited partnership agreement and applicable law (up to two extensions of one year each) or dissolved early and liquidated.
The fund shall invest in commercially sustainable projects that fall within the following scope: (i) areas that help promote the moderately diversified development of Macau's economy, especially investment projects that can introduce emerging industries, drive industry transformation and upgrading, support the commercialization of technological achievements, and support the development of technology start-ups; (ii) areas that align with national development strategies, industrial upgrading, technological innovation, and livelihood protection; (iii) areas that align with Macau's strategic development positioning and give full play to its unique advantages; (iv) investment projects that support the coordinated development of Macau with the Guangdong-Macao In-Depth Cooperation Zone in Hengqin and the Guangdong-Hong Kong-Macao Greater Bay Area; and (v) other investment projects that align with the Macau government's policy direction.
The capital was established by the Macau Special Administrative Region as a Macau government-guided fund under the Investment Fund Law and the government-guided fund management system. Melco Macau's investment in the fund is intended to further fulfill its non-gaming investment obligations under the concession contract and reflects the group's commitment to supporting Macau's sustainable development and economic diversification. Melco Macau's capital injection into the fund shall be deemed to have fulfilled an equivalent investment obligation under the concession contract. Accordingly, the transaction is not expected to have a material impact on the company's financial position at this time.
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