Macau Property Opportuni... Share Discussion Threads

[silkywhite] 16/8/2016 10:17

Sometimes it pays to wait. Got some more at 117.5p

Sterling has weakened by 2% against the US dollar since the last NAV update on 3rd August so all things being equal the NAV will be over 227p now.




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Macau Property Opportunities Fund Limited, managed by Sniper Capital Limited, announces that its estimated Adjusted Net Asset Value for the period ended 30 June 2016 was US$226 million.

This is equivalent to US$2.96 (223 pence*) per share and represents an increase of 0.3% from the previous quarter.

*Based on a US$/GBP exchange rate of 1.326 as at 30 June 2016.

[silkywhite] 10/8/2016 09:32

I should really be buying more at this price since I think there is a comfortable 20% upside hear at least.

[luckymouse] 07/8/2016 15:48

nice technical bounce

[quepassa] 05/8/2016 10:15

You are absolutely right. Still cheap.

The current Discount to NAV reains a gift in my view.

One of those investments which just lost traction and became out-of-fashion as Macao suffered a few years ago from the China slowdown and the China clampdown on conspicuous spending by VIPs and UHNWI's.

When you find these bargains as the mood-music changes and the outlook for the chosen sector bottoms out and improves, there can be a dramatic narrowing of the Discount-to-NAV.

It reminds me of Las Vegas after the global financial crisis where you could buy properties in 2010/2011/2012 at 40% discounts to peak. Now Las Vegas property is highly sought after again and buoyant.

Macao is focusing more on bringing the masses in rather than mainly relying on VIP's/UHNWI's .This will stimulate demand for property.

Everything is cyclical. Macao is rebuilding and opening new venues. The HK-Macao bridge is certain to boost the economy.

All this points in my opinion to the beginning of the upturn.

ALL IMO. DYOR.
QP

[spectoacc] 05/8/2016 09:13

What I love about MPO is that it goes up 30p and is still cheap. Another +30p and it'd still be cheap. And that's based on current NAV, even before any (mooted..) Macau recovery.

1% off the £ yesterday won't have hurt either.

[quepassa] 04/8/2016 21:58

i read 2018.

let's just say 2018/19.

QP

[jbarcroftr] 04/8/2016 21:07

Originally I think the bridge was due for completion this year
Now it's back to 2019
Grateful,if anyone has more up to date information

[quepassa] 04/8/2016 18:24

Some interest building here.

Always tough to find the bottom but incidental news points to Macao poised after a few years of back-peddling to be on the front foot again.

It is amazing that Macao pulls in three times the gaming revenue than Las Vegas and this looks set to grow significantly.

Buiding a road bridge from Hong Kong to Macao will be a game changer and will ensure spectacular future growth for this island as the pre-eminent gaming resort in the Far East.

ALL IMO.DYOR.
QP

[silkywhite] 04/8/2016 11:59

good article.

I think we'll see this back to 150p over the coming weeks here.

[quepassa] 04/8/2016 08:47

Bloomberg. Two important news items.


1. Watch the short video interview 1st. August.

" Are the fortunes Changing for Macau?"




2.Read the article 27th. July .

"Tables Look Set to Turn for Asia's Worst Property Market"









Evidence pointing to the start of the upturn for Macao. Casino revenues stabilising and a growing interest in property in Macao, combined with several major new attractions and the Hong Kong-Macao bridge scheduled to open in 2018.

It seems to me that the enormous 50% discount to NAV on this fund is vastly overdone and has the potential to narrow rapidly.

ALL IMO. DYOR.
QP

[silkywhite] 03/8/2016 16:43

strong finish.

If the Macau property market has bottomed out as the flurry of news articles are saying then the net asset value of MPO has a lot of upside to make up the amount it has dropped.

start of the recovery imo

[spectoacc] 03/8/2016 16:19

223p vs last NAV of 205p if memory serves; no doubt mostly £/$ related but still, plenty of justification for the rise.

[quepassa] 03/8/2016 15:08

Nice article on Bloomberg also a week ago.

Seems to be at the bottom of the cycle.

Poised for the awaited upturn.

Been adding in small lots over past week. - Stock can be had but in smaller parcels - so building positions patiently is perhaps the way to go on this one.

ALL IMO. DYOR.
QP

[silkywhite] 03/8/2016 15:03

Market makers really want your shares. Bid price moved right up, tiny spread.

[silkywhite] 03/8/2016 14:34

Macau property market appears to have bottomed out finally.

hxxp://www.property-report.com/is-the-worst-over-for-macaus-hard-hit-property-market/

[silkywhite] 03/8/2016 14:33

Very hard to get stock. Poised for a sickening lurch upwards methinks.

[888icb] 03/8/2016 14:24

The just released estimated NAV per share is 223p against a current share price of 112p.
Trading at a very substantial discount to NAV!
A rerating must be likely?

[jbarcroftr] 03/8/2016 14:18

This needs the sale of de Penha and these could rerate quite nicely
Then there is the potential wind up in Dec 2017

[spectoacc] 01/8/2016 16:38

Interesting late spike today.

[spectoacc] 25/7/2016 15:03

£/$ is, but Macau property market isn't! Fees not very pleasant either, HL quotes 3.28%pa - 2% of Net Assets is surely near 4% of share price when at a c.50% discount. Daylight robbery, that'd be a lot of the share price had doubled, let alone when it's halved!

Next continuation vote could be interesting, notwithstanding that it'd be a very poor market to fire-sale into.

[jbarcroftr] 07/7/2016 13:40

£|$ working in out favour now

[jbarcroftr] 20/6/2016 16:04

Anybody know the wind up date?

[shavian] 15/6/2016 16:37

QP : with this discount they probably could not resist a bargain.How come this purchase by the managers does not count as Insider Dealing?

[quepassa] 02/6/2016 08:35

Not so very happy that Sniper Investments keep on buying.

On the one hand, you can argue it supports the price.

On the other hand it gives them a growing influence as a significant shareholder in the Company which is not necessarily such a good thing.

I am always very wary of stake-building by the "Principals" when the share price is so weak.

You'd think it was a good thing and positive sign for shareholders - but in my experience that isn't always the case.

I would prefer Sniper to manage the fund not to own it. Sometimes this leads to mixed motives and intentions.


ALL IMO. DYOR.
QP