Speymill's Residential property fund in Macau (MCAU)

Market Cap. 94.49 m / Shares In Issue 85.36 m x ....



Speymill Macau (EPIC: MCAU.L) was established to create a portfolio of high
quality residential properties in Macau, China. The Company listed on the AIM
market of the London Stock Exchange in November 2006, following a placing of
US$80 million. A second fundraising of US$70 million was completed in May 2007.
The US Dollar denominated fund aims to provide investors with an attractive
overall return to be achieved primarily through long term capital growth.

There are 16,959 up-market units planned, according to the Lands, Public Works and Transport Department, of which 7,052 are under construction with the remainder pending approval.

first purchase:
The Company has purchased 243 residential units, ranging in size from 1,198 to
2,226 square feet, and 243 car parking spaces, in three towers of a luxury
waterfront development. The development is part of a six tower project which
comprises residential apartments, serviced apartments, car parks and a retail
podium.

The total price payable by the Company is HK$906,508,929 (US$116.5 million), of
which 30% will be settled immediately in cash.

HK$906.5mn / 243 = hk3.7 million /unit
average size? maybe: 1,500 sf, and so: hk$2,500 /sf

POTENTIAL:
Strong potentials for strong growth
Under government’s proactive efforts, Macau is taking off at unprecedented pace as multi-million dollars of investments are being poured into the city. With significant projects underway, including the Hong Kong- Zhuhai- Macau Bridge and a myriad of world-class entertainment and gaming venues, Macau is entering a dazzling era, and at the same time, enjoying the fruits of the blooming economy of Southern China region.

According to Macau government statistics as published in August 2005, the number of property transactions and mortgage deals in the first half of the year totalled 13,773, equalling an impressive 43.6% increment. The number of property transactions and mortgage deals in the second quarter alone totalled 7,704, a 50.2% increase as compared with figures of the same period in year 2004. Residential properties make up 63.8% of all property transactions in the second quarter, indicating rosy prospects in residential development sales.

With the blooming real estate market, first-class luxury residents are expected to be in high demand.

BIG GAP in incomes
======
According to the survey, 93.6 percent of SME employees' monthly wages range from MOP4,000-6,000 (US$500-$749). By contrast, the government's latest report pegged average casino salaries at MOP12,615. Combine that wage gap with a 3.9 percent jobless rate, and it's easy to understand why six out of ten businesses chose "improvements to human resources" as the best way for the government to support SMEs.


MACAU RELATED STOCKS

Macau Property Oppty. Fund (MPO.L) - June 2006
.
Speymill Macau Properties (MCAU.L) - Nov.2006
.
Emperor Ent. Hotels (HK:0296) - Grand Emperor Hotel, Macau is the flagship
.
Shun Tak Holdings (HK:242)
.
Las Vegas Sands
.
WYNN?
.

Galaxy Entertainment?


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Speymill Macau Prop - First Investment

01 December 2006

Speymill Macau Property Company plc ('MCAU' or 'the Company')

Completion of first investment

Speymill Macau Property Company plc (AIM: MCAU), the Macau focused residential= investment property company listed on AIM, is pleased to announce that, on 29 November 2006, it completed its first investment in Macau, further to the option agreement entered into by the Company's manager as detailed in the Company's admission document published on 14 November 2006.

The Company has purchased 243 residential units, ranging in size from 1,198 to
2,226 square feet, and 243 car parking spaces, in three towers of a luxury
waterfront development. The development is part of a six tower project which
comprises residential apartments, serviced apartments, car parks and a retail
podium. While the number of units purchased remains as previously disclosed in
the Company's admission document, the Company has made the decision to swap the
top 4 floors and bottom 4 floors in Tower 3 for equal number of middle floors in
Towers 2 and 5 at equivalent prices per square foot. The investment manager
believes that this change is beneficial to the Company. The apartments were
purchased from San You Development, one of the leading residential developers in
Macau.

The total price payable by the Company is HK$906,508,929 (US$116.5 million), of
which 30% will be settled immediately in cash, 10% is required within
approximately 12 months and the remainder is payable on completion of the
development. To the extent that the Company chooses to retain the apartments,
the Company's manager is satisfied that it will be able to secure bank
borrowings for the outstanding balance of the price payable.

The properties in relation to which the option agreement was entered into were
valued by CB Richard Ellis on 27 November 2006 at a total gross development
value of HK$1.054 billion (US$135.5 million) which represents a 16% increase on
the purchase price.

Commenting on the investment, Larry Kearns, the Company's chairman, said, 'We
are very pleased with the recent acquisitions of residential properties in Macau
and continue to be strong believers in the growth of the Macau property sector.'


1 December 2006

Notes to editors:

- Speymill Macau Property Company plc was established to invest primarily in
high quality residential properties in Macau. The Company will also pursue
selective commercial investments to capture expected ancillary Macau service
sector growth.

- The Company listed on AIM on 17 November 2006 raising US$80 million in a
placing on admission.

- The Company's objective is to provide shareholders with an attractive overall
return to be achieved primarily through long-term capital growth.

- The Manager is Speymill Property Managers Limited, the Investment Adviser is
Speymill Property Managers (Far East) Limited and the Property Adviser is
Avila Capital Limited. The Manager, Investment Adviser and Property Adviser are
responsible for identifying investment opportunities.

- The Manager is a wholly owned subsidiary of Speymill Group plc (AIM: SYG).
The Investment Adviser is a wholly owned subsidiary of the Manager.

LANDMARKS
=========
Jul.05:
Hong Kong-listed Emperor Intl buys 2 properties in Macau for 161 mln hkd - July 2005
Prop.#1 : 01,600+Prop.#2 : 15,788 = 17,388 : Price : hk$161.0mn ( hk$ 9,259/sf)

Nov.06:
Hongkong Land and Shun Tak Holdings- chaired by Stanley Ho- sell a Macau residential block for a record HK$4,400 per square foot or HK$782 to Iceland's largest insurer, Sjova-Almennar Tryggingar. Same two co's also sold a residential block in a jointly developed property (One Central, adjacent to the Sands casino)to Macau Property Opportunities Fund for HK$673.4 million
(Comments from MPO shareholders: "They paid 4400HK$/sqft, we paid 4550HK$/sqft. ..The price paid by the Icelanders is for unfinished apartments. The MPO price includes high quality finishes. MPO have the better deal... best location on the island")



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LINKS:

Corporate website... : http://www.mcau.co.im/
GEI chatbd. thread.. : http://www.greenenergyinvestors.com/index.php?showtopic=2748
macau yellow pages.. : http://www.yp.com.mo/en/
similar Development. : http://www.manhattan-macau.com/?gclid=COLeo7W2sIkCFR4wTAodeXXgMg
Macau Photos...... : http://www.ratevegas.com/photo/gallery/macau :
more : http://www.infohub.com/pictures/images_macau_86.html