Transmac, one of the two public bus franchise companies in Macao, saw a net loss of six million patacas (750,000 U.S. dollars) in 2005, according to a press release issued on Monday.

The release from the company said the private enterprise logged a year-on-year rise of 15 percent in the gross revenue in 2005.

However, it added, the expenditure increased 21 percent in the year.

The company blamed the rising gasoline prices and employees' wages for the net loss, said the release.

The Transmac also spent 100 million patacas (12.5 million U.S. dollars) on 115 new buses in 2005, it added.

The company has proposed a bus fare rising plan to the government for approval and the response has yet to be reached, said the release.

Source: Xinhua