Speymill Mac. Share Discussion Threads

[energyi] 11/2/2008 06:53

(Interesting posting on the GEI thread):

MCAU.L fund has dropped out of buying stake in Bel Lago project due to delays in getting approval. There is a probable consequence of corruption scandal in Macau and locals/activists again hi-rises. Supply is large, but seems to have been delayed due to this.
Meantime, MCAU also sold out of one project at 30+% gain after just over 1 year, while Taubman (big US retail fund) has bought a big stake in a project on Cotai strip.

/see:

= =

Have people in the UK lost interest in this company?
They seem to be doing rather well

[energyi] 02/9/2007 05:09

Looking Back...
Is this a U$ quotation??


09 May 2007
Speymill Macau Property Company plc ("the Company")
Completion of Placing

The Company is pleased to announce that it yesterday completed the placing of 50
million ordinary shares of US$0.10 each ("Ordinary Shares") at a placing price
of US$1.40 per Ordinary Share (the "Placing Price"), to raise a total of US$70
million before expenses ("the Placing"). The proceeds of the Placing will be
used to fund further acquisitions in line with the Company's investment
strategy. Application has been made for the new Ordinary Shares to be admitted
to trading on AIM, and the new Ordinary Shares are expected to be admitted to
trading on AIM on 11 May 2007.

Placing statistics:

Placing Price per Ordinary Share US$1.40
Number of Ordinary Shares being issued pursuant to the Placing 50,000,000
Number of Ordinary Shares in issue following the Placing 130,000,000
Gross proceeds of the Placing US$70 million
Market capitalisation of the Company following the Placing US$182 million
at the Placing Price

[energyi] 29/8/2007 04:43

not looking too swift, is it?

let's see how the Venetian fares

[sogoesit] 14/7/2007 19:13

Tipped in MoneyWeek this weekend along with MPO (Macau Property Opportunities).
reegards,

[zapherz] 24/6/2007 22:38

Got a nice write up in the Sunday Times Money section today, will it tick up tomorrow now?

Best regards

Z

[energyi] 28/5/2007 06:21

People who live in Macau tell me that property prices are falling now-
especially at the low end

[energyi] 02/5/2007 02:57

-- be careful / macau government policies are not popular with everyone --

SHOTS FIRED AT MACAU RALLY

Bullet strikes man in the neck as police battle with angry protestors
during march against labour woes

Police fired shots in the air and beat protestors back with batons yesterday as a Labour day march by thousands in Macau erupted in violence

Incensed by a lack of jobs and low pay while mainland labour flodds in to drive Macau's casino boom - and accusing the government of corruption - the protestors mounted the most direct challenge yet to Chief Executive Edmund Ho Hau-wah, calling on him to step down.
. . .
Police put the number at 2,400, while the rally's organisers said it was 10,000

[energyi] 10/4/2007 04:31

ABRUPT SUSPENSION

Macau has made an "abrupt suspension" of its investment migration scheme. The scheme allowed those who invest 1 million patacasa and depoist pt.500,000 in a Macau bank to gain permanent residency in Macau. Most applicants (90%) were from mainland china, but these were also required to have a non-Chinese passport- easily acquired for between pt.40-50k from an African country.

Applications had soared to 4,000 before the suspension; and the level was over 3,000 in 2006, compared with 800 in hong kong.

By comparsion, such right requires a minimum investment of hk$6.5 million in Hong kong.

One reason for the suspension was that critics blamed it for a property bubbl;e which has left ordinary local unable to afford property.

Observers believe a new scheme with introduced, with a higher minimum, such as pt.3 million.

It will be interesting to see what impact the suspension will have on Macau's property market

[energyi] 26/3/2007 07:10

BEARISH Story on Macau Casinos in today's SCMP, entitled:
"Winning Run ends as Macau Plays tumbles"

It talks about:

+ the 22-26% falls in the main two US markers, WYNN, and LVS
+ shares in Melco have plunged as much as 40% from their Dec.19th debut on Nasdaq
+ "the shares remain hugely expensive, and investors and analsyts are worried about rising costs in Macau, underwhelming growth in visitor spending and infrastructure bottelnecks"

+ "the current trend doesnt support the massively bullish argument- that you build it, and they will come, and that each time you open a new property, you are going to see a surge in visitations from the mass-market Chines visitor
+ Despite an 18 percent rise in vistations, spending per visitor rose only 1 percent
+ Gaming revenues from the walk-in mass market appeared to be growing at a 30 to 40 percent clip, and the VIP market looked aneamic at 3 per cent
+ Important, because margins on mass-market are 35 to 40 percent, against only 10 to 15 percent on VIP business (due ti big fees paid to VIP tour organisers). However, there was an error in the data collection. The real figures were more like: 15% and 9%, respectively.

= =

THIS IS CASINOS,
But some of the disappointment is likely to spill over into the Macau property market, especially if disappointing share performance continues

[energyi] 26/3/2007 02:35

sell target at 130p has been reached,
just as LVS bangs up against resistance

[energyi] 16/2/2007 11:20

THIS sounds rather Bearish - and needs further reflection
==================

[b]Investment immigration programme "should be suspended" [/b]
(Fri 09 Feb 2007 07:07 )

Legislators demanded suspension of investment immigration programme, expressing concerns that apartments have become unaffordable among locals.

In interviews with daily newspaper Jornal Va Kio, Ng Kuok Cheong (吳國6124;) pointed out that land concessions with prices much lower than market values had resulted in an increased supply in real properties, while there is no increase in cash supply.

Although this should slow house price hikes, increase in Renminbi value and economic development means that capital from mainland China may target Macau properties for speculation.

Meanwhile, Kwan Tsui Hang (關翠6447;) pointed out that situation has changed since the implementation of investment immigration policy.

The original purpose of such policy was to digest the over-supplied property market. With even an old apartment unit being sold for MOP 1 million, and criteria for investment immigration also at MOP 1 million, it will only result in poor quality investments.

She also expressed concerns that Macau's social infrastructure cannot cope with the load of these new immigrants.

She said that more social and economic housing are actually needed for local people, especially young people, but easy home-buying schemes for immigrants means that inequality exists between the locals and people from outside Macau, exacerbating the dissatisfaction of locals on the Government.

Jornal Va Kio also reported that the Government is "likely" to review existing investment immigration policy.

@:

[energyi] 19/1/2007 02:21

DIVERSITY IN MACAU'S Property Market

Rich and Eminent
Flats at The Manhattan are priced at $3,200 per square foot and the smallest flat is 1,600 square feet, so the building isn't aiming at casino floor workers. Jimmy Yeung, sales director of Midland Realty Macau, says that the target clients of this kind of selective luxurious apartments are not ordinary families, but moneyed classes from greater China and around the world. Macau has gotten on the jet set's radar as it begins to add world class shopping and other facilities, so it follows that Macau should have some world class homes as well. With the support from these four types of buyers, international investors still believe there's a healthy market for luxurious apartments in Macau.

No Fold Forecast
"I cannot say for sure how many fold the price of real estates in Macau will go up in the coming year, the year after next year or at any specific time," Rico Kwok of Centaline admitted. "But from my experience as a practitioner in the purchase and sale of properties and based on my own data analysis: first, I cannot see by any chance that the property market of Macau will adjust downward in the future; second, the property market of Macau enjoys a variety of conditions for it to appreciate, especially [since] the prices of real estate remain moderate and luxury apartments are fully fitted with the necessary amenities".

Midland's Yeung pointed out, "In the future, the price of luxury apartments and that of old Chinese building and flats diverge farther and farther. Since there are sufficient buyers who favour luxury apartments, their prices will simply go up and never come down. People will sell old Chinese buildings and flats, which have relatively less attractive conditions, when they change apartments. There are many old Chinese buildings around, thus their prices are being pushed down. If people simply wish to have a place to live, the people of Macau still have sufficient choices."

For most workers, rises in salary cannot catch up with the rise flat prices. But more local people are becoming rich and the number of rich people coming from abroad to Macau is on the rise. A bowl of wonton noodle soup will never be HK$10 again, and the era of HK$800 square foot luxury apartments is already a part of history. Neither one is likely to come back.

...more:

[energyi] 19/1/2007 02:20

DIVERSITY IN MACAU'S Property Market

Rich and Eminent
Flats at The Manhattan are priced at $3,200 per square foot and the smallest flat is 1,600 square feet, so the building isn't aiming at casino floor workers. Jimmy Yeung, sales director of Midland Realty Macau, says that the target clients of this kind of selective luxurious apartments are not ordinary families, but moneyed classes from greater China and around the world. Macau has gotten on the jet set's radar as it begins to add world class shopping and other facilities, so it follows that Macau should have some world class homes as well. With the support from these four types of buyers, international investors still believe there's a healthy market for luxurious apartments in Macau.

No Fold Forecast
"I cannot say for sure how many fold the price of real estates in Macau will go up in the coming year, the year after next year or at any specific time," Rico Kwok of Centaline admitted. "But from my experience as a practitioner in the purchase and sale of properties and based on my own data analysis: first, I cannot see by any chance that the property market of Macau will adjust downward in the future; second, the property market of Macau enjoys a variety of conditions for it to appreciate, especially [since] the prices of real estate remain moderate and luxury apartments are fully fitted with the necessary amenities".

Midland's Yeung pointed out, "In the future, the price of luxury apartments and that of old Chinese building and flats diverge farther and farther. Since there are sufficient buyers who favour luxury apartments, their prices will simply go up and never come down. People will sell old Chinese buildings and flats, which have relatively less attractive conditions, when they change apartments. There are many old Chinese buildings around, thus their prices are being pushed down. If people simply wish to have a place to live, the people of Macau still have sufficient choices."

For most workers, rises in salary cannot catch up with the rise flat prices. But more local people are becoming rich and the number of rich people coming from abroad to Macau is on the rise. A bowl of wonton noodle soup will never be HK$10 again, and the era of HK$800 square foot luxury apartments is already a part of history. Neither one is likely to come back.

...more:

[energyi] 15/1/2007 07:17

Pause for Breath


Posted: 2006 Dec 01 - 18:10
• The local real estate market was 'broadly stable' in the third quarter with a strong economy and tourist growth boosting retail and residential outlooks

Global property consultant and services specialist Jones Lang LaSalle says Macau's strong economy, signs of stabilizing interest rates and robust tourism growth supported the local real estate market in this year's third quarter.
The firm's Asian Pacific Property Digest, reports stable capital values and rents for the local retail and high end residential markets. Looking ahead, Jones Lang LaSalle sees expanding tourism and accompanying economic growth continuing to drive the property market.
In the retail sector, the third quarter featured the opening of what Jones Lang LaSalle calls Macau's "highest tier shopping arcade", Wynn Esplanade at the Wynn Macau with a gross floor area of 28,000 square feet.

Locals flee
The new luxury mall complements a trend the firm notes of local retailers moving away from prime retail areas to secondary areas to cut costs. Foreign chain stores and international brands such as Esprit, SaSa and 3D Gold arrive to replace them.
Jones Lang LaSalle calls retailers "generally optimistic" about Macau in the long term but sees reluctance to expand in the near term as the market matures.
"Retail demand and rentals are expected to be moderately on the rise in the 12 months ahead," Jones Lang LaSalle head of research for southern China Kenneth Tsang says. "With a number of notable retail and tourism offerings ready for opening in 2007, Macau will enter a new shopping era and its role as one of Asia's tourism and shopping nodes will be further enhanced."

Slow ride
In the residential market, the report notes capital values for high end properties rose 0.5 percent, while the overall residential market rose 1.0 percent. Jones Lang LaSalle cites leasing as a strong segment as expatriate managers move in. For the longer run, the firm expects GDP expansion to boost the entire market.
"Macau's overall economy will grow further with new tourism offerings, which will strengthen the territory's position as Asia's Las Vegas and attract tourists from beyond the mainland," Tsang says. "This will translate into higher domestic income and a stronger desire for quality accommodation."

@:

[energyi] 14/1/2007 15:25

POTENTIAL:
Strong potential for rapid 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.

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.


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.

[energyi] 28/12/2006 08:45

Hong Kong-listed Emperor Intl buys 2 properties in Macau for 161 mln hkd - July 2005

HONG KONG (XFN-ASIA) - Emperor International Holdings Ltd said that it has acquired two properties in Macau for a total consideration of 161 mln hkd.

The first property with an area of 1,600 square feet is currently used as a fashion retail shop, while the second is 15,788 square feet property currently used as a retail shop and restaurants.

""With our newly-acquired properties (located) at the busiest and most valuable commercial strip in the territory, we believe this strategic move will strengthen our investment portfolio and put us in an advantageous position to grasp lucrative business opportunities in Macau,"" said Donald Cheung, director of property department at Emperor Group.

= =

SOME CALCULATIONS:
Prop.#1 : 01,600
Prop.#2 : 15,788
:Total= : 17,388
: Price : hk$161.0mn

=== per sf : hk$ 9,259

[wassapper] 27/12/2006 07:43

Energyi - Maybe the Gave's are right?

[energyi] 27/12/2006 04:38

CH,

Havent bought yet.
But I am researching Macau and parts of Hong Kong.

Macau is booming, and this is beginning to force incomes and rents up

[energyi] 27/12/2006 04:35

LANDMARKS
=========

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

[energyi] 26/12/2006 14:40

San You Development Company whose portfolio includes Kingsville, Greensville and Hillsville is the seller of The Manhattan site in Taipa. It is also developing Gold Cove, a high-end residential and retail complex, in Orient Pearl District, where the Hong Kong-Zhuhai-Macau bridge link will probably be built.

Gold Cove has 700 luxury residential units, serviced apartment sand a shopping mall, and is scheduled for completion in 2008. Sammy Wong, executive director, of San You, believes that supply is still catching up with the demand in the high sector of the luxury market. With an influx of well-educated expatriates, the demand for quality housing will go up too, anticipates Mr. Wong.

...more:

[cheading] 23/12/2006 16:56

energyi,

you into property? blimey, it's all change. Good luck. I'm still long metals.

cheers

cheading

[don muang] 23/12/2006 16:26

Looking at the first investment of MCAU it looks like they've purchased 243 residential units across the six tower developement. But t'other Macau fund (MPO) hads gone ahead previously and purchased a whole tower of the development. Therefore possibility exists that MCAU could have purchased units in the MPO tower. Will be interested to see which of these two Macau property companies perform the best over the next couple of years.