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MCAU Speymill Mac.

0.8225
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Speymill Mac. LSE:MCAU London Ordinary Share IM00B1GJR404 ORD USD0.10
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.8225 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Speymill Mac. Share Discussion Threads

Showing 51 to 73 of 125 messages
Chat Pages: 5  4  3  2  1
DateSubjectAuthorDiscuss
20/12/2011
23:42
nope..i'm jus not sure about the fees..but i c little risk for cash i jus want to park ....the lack of detail about paying money out is a tad annoying...i'm thinking about making a phone call on that one
badtime
20/12/2011
18:46
I would but my broker is an idiot (won't trade in USD denominated stocks) and IG have closed their book.

Have you done any calculation about how much we should get?

zangdook
20/12/2011
18:21
zang..not tempted to add a few?..better return than cash :)
badtime
06/12/2011
18:14
spread narrows nicely
badtime
01/12/2011
16:52
bulky trades jus gone thru at close to price..wonder who sold them
badtime
23/11/2011
09:41
cheers Zang..shares and sippdeal..although cudnt do online..so had to pay a horrible fee for telephone ..but i felt the potential uplift was worth it
badtime
23/11/2011
09:00
I haven't worked it out...somewhere in the high 80s? They BoD have a good incentive package which will eat some of it up. I expect payment maybe late Feb? I don't know how long it takes to wind up a company.

btw, did you buy actual shares, not spreadbets? If so, which broker do you use, if you don't mind me asking? Hargreaves Lansdown refuse to trade them as they're priced in $, so I'm keeping an eye out for serious brokers in case I ever get around to switching.

zangdook
22/11/2011
18:31
that 30k buy looks nice....zang...any ideas what the final payout will b and when?

TIA

badtime
21/11/2011
08:36
Took some first up
badtime
18/11/2011
16:45
HAH!!!!!!!!!!!
zangdook
12/9/2011
14:54
Nothing unknown. JLL seem to be letting it, I don't know if they're also involved in trying to sell it.
zangdook
19/11/2010
15:58
EGM, motions passed, winding up slowly, last NAV $1.25.
zangdook
21/7/2009
10:02
Non-independence of proposed new directors

The proposed directors are all directors of the Requisitionist as well as Chairman, CIO and COO of Terra Partners Group, the investment manager of the Requisitionist. The proposed directors are, therefore, not independent of the Requisitionist and these proposed changes to the Board would result in the Company no longer complying with the independence requirements of the Quoted Companies Alliance's Corporate Governance Guidelines for AIM Companies. The Requisitionist's proposals may also compromise the ability of the Company to remain on AIM as the London Stock Exchange usually expects the Board of an investing company as a whole to be independent of any substantial shareholder.
== ==

Terra Partners Group

As of January 1, 2009 Terra Partners Group managed over 130 million USD in three funds: Worldwide Opportunity Fund (Cayman) Ltd. ("WWOF"), a multi-class ...

About Us

Terra Partners Group ("Terra") is the manager of Worldwide Opportunity Fund (Cayman) Ltd. ("WWOF"), Terra Bangladesh Fund Ltd. and Discover Investment Comapny . Terra's president, Howard Golden has over 20 years experience investing in Transition Economies and Terra's Chief Analyst, Yarden Mariuma has many years of on the spot experience investing in private equity in illiquid emerging markets. Filip Montfort rounds out our team with his intimate knowledge of the EU, his local knowledge and language skills, his legal background and MBA.



Golden, Howard
Brief Biography

Mr. Howard Golden is a Director at Vietnam Equity Holding. He has been investing in international markets since 1978 and was President of The Brookdale Group Limited, a New York-based money management firm from 1991. He specialized in Central and East European markets and was appointed chairman of several investment funds. Mr. Golden has lectured on closed-end funds in London and Prague and at various business schools (Harvard, Univ. Chicago). He has been quoted as an expert in capital markets and corporate governance in The Economist, The Financial Times, The New York Times, The International Herald Tribune, Newsweek, Prague Business Journal and Business Central Europe, among others. He is Chairman of the Board of Directors of The Romanian Investment Fund and Reconstruction Capital II (listed on the London AIMS). He was previously Chairman of The Kazakhstan Investment Fund, a Cayman Island domiciled investment fund and the Romanian Growth Fund, a Dublin Stock Exchange listed fund, and served on the Board of Directors of Framlington Bulgarian Fund until the fund's voluntary dissolution. He also served as Chairman of the Supervisory for the largest Slovak closed end fund, the Slovak Restitution Investment Fund, was on the Supervisory Board of the Czech Restitution Investment Fund, the largest closed-end fund in Central Europe, and also served on the Boards of Beta Vietnam Fund. His tenure on these boards was a result of his activist policy, which involves close and direct supervision of large investments. Since 2003 Mr. Golden has served as President of Terra Partners, where he manages the Worldwide Opportunities Fund which has assets of approximately $135 million. Before founding Terra, Mr. Golden practiced law in Chicago, New York and Israel. He is a graduate of the University of Wisconsin with a B.A., J.D. and MBA and is a Member of the bar associations in New York State, Illinois, Wisconsin, and Israel.

energyi
23/6/2009
08:43
RELATED
(1)
== == ==
Fulton Mak, writing in today's SCMP:
"I'm surprised to learn that it quit the deal without securing a new buyer and was returning the property to the developers," said Gregory Ku Ka-ho, the managing director at Jones Lang LaSalle (Macau)

Many buyers had shown interest in the project and were willing to take it over at HK$3,800 to HK$4,000 per square foot, Mr. Ku said. Owners needed to spend about HK$700 to HK$800 psf to furnish the units, as they would be bare upon delivery, he added.

Units at One Central Residences, launched for sale in the second half of 2006, fetched more than hk$8,000 psf when the market peaked in 2007. But selling prices have dropped to between hk$4,800 and hk$5,000 psf in the secondary market.

(2)
== == ==
THE SALES EFFORT - described here, failed

Thursday, October 16, 2008
Iceland firms put properties on sale
Country's economic collapse prompts bid to divest holdings in Hong Kong and Macau.

Icelandic companies are offloading real estate in Hong Kong and Macau following the collapse of their country's financial system, raising fears other cash-strapped foreign investors are preparing to exit the local property market.

Iceland is among the countries worst hit by the credit crunch, with its financial system in virtual meltdown. Its banks have shortfalls or losses of about £37 billion (HK$504.23 billion), equivalent to £115,000 for each of its 320,000 citizens.

The small island nation's largest insurer, Sjova-Almennar Tryggingar, is selling its residential block at One Central Residence in Macau, while in Hong Kong, Iceland-based investment bank Askar Capital is putting it jointly owned luxury homes in Chung Hom Kok on the market.

"As the country is in big trouble, it is sensible that private institutions will try to repatriate funds back home," said a source familiar with the Macau deal.

Sjova-Almennar Tryggingar bought the Macau property, which is still being built in November 2006 at HK$782.74 million, or HK$4,410 per square foot, from a joint venture between Hong Kong Land Holdings and Shun Tak Holdings.

The insurance company has paid 30 percent of the purchase price and is required to pay the balance when the property is ready to be handed over next year.

/more:

energyi
19/6/2009
03:15
Peter Churchhouse
LIM advisors
obama's plan ... will drive hedge funds offshore

energyi
25/3/2009
08:31
[quote name='DrBubb' post='51219' date='Aug 1 2008, 09:30 PM']Major Shareholders Pre-buyback % (Spring 2008?)
Invesco Asset Mgt........ 28.80
QVT Financial.............. 10.90
Insight Investment Mgt.. 9.29
ABN Amro Bank NV....... 8.80
Bank Sarasin Et Cie...... 5.70
Fortis Investment Mgt... 5.38
Hichens Harrison & Co.. 5.00
New Star Asset Mgt....... 3.71 :: increased, see below
Griffin Capital Mgt......... 3.30[/quote]
New Star Asset Mgt - 6 March
Number of voting rights..... : 7,728,438
Percentage of voting rights : 6.62%
[url="http://www.speymillmacau.com/news-item?item=96078418432432"]

Balance sheet============ 31 Dec 2008 : 31 Dec 2007
Net assets (US$'000)....................... 127,448 : 183,593
Net assets per share (US$)................... 1.09 : 1.41
Headline* net assets (US$'000)........ 133,899 : 189,212
Headline* net assets per share (US$).... 1.15 : 1.46
Total assets (US$'000).................... 328,498 : 209,049
Property assets (US$'000)............... 288,455 : 114,584
Therefore. the debt is..................... 201,050 : 025,456 / (tot.assts - headline net assets)

As of June 2008 the population in Macau stood at 551,900, as stated by the Macau Statistics and Census Service. It has projected that the population will grow by an average of 4.1% per year between 2006 to 2031, by which time it expects that the city will have 829,300 residents. According to the South China Morning Post, Macau is the most densely populated place in the world with a population density of 18,900 per sq km of land. Hong Kong was ranked in 3rd place with a population density of 6,736 per sq km of land. In a bid to ease its land shortage, Macau is seeking central government approval to reclaim five areas from the sea and add 5 sq km to its current land area of 29.2 sq km.

Gaming
Gaming revenue continues to be the key economic driver in the region and the Gaming, Inspection and Coordination Bureau reported gross gambling revenues of US$13.7 billion for 2008, up 31% on the previous year. Actual gaming revenue generated was 9 times more than the Government initially expected according to government officials and Macau remains the world's largest gambling destination in terms of revenue. According to the Lusa news agency, Macau gaming revenue was MOP$7.9 billion in February 2009, 15.5% lower than during February 2008. But this result is still 13% higher than the average monthly gaming revenue for 2007.

Adding to the gaming capacity Melco Crown Entertainment Limited's integrated entertainment resort, 'The City of Dreams', is set to open later this year opposite The Venetian on the Cotai Strip. It will provide almost 420,000 sq ft of gaming space, 550 gaming tables and 1,500 slot machines, a 2,000 seat theatre, over 2,200 hotel rooms and finally 175,000 sq ft of retail space.

Visitor statistics
According to the Statistics and Census Service ('DSEC'), there were 30 million tourist arrivals to Macau during 2008, an increase of 11% on the previous year, with the majority (approximately 58%) coming from the Chinese mainland. Whilst visitor numbers for 2009 are expected to slow, tourist spending is expected to remain fairly stable.

In June 2008 China imposed visa restrictions on mainland Chinese visitors to Macau with the aim of targeting the capital outflow to the only gaming city in China and to stabilise growth in order to allow infrastructure and regulations to catch up with the booming economy. Recent reports have suggested that the authorities in Hong Kong, Macau and Guangdong have agreed, in principle, to ease visa restrictions by extending the one-year multiple visit visas held by Shenzhen residents to all of Guangdong. The proposals are still to be ratified by the Beijing government.
. . .
Summary




The impact of the deterioration in primary capital markets caused by the global debt crisis will continue to impact upon the Macau economy and make 2009 a challenging year for the region. However, government-led initiatives (both local and national), such as the Chinese economic stimulus package for the region, public infrastructure projects and property purchase incentives, should help bolster the economy and provide support to property values. The region's economy is still underpinned by compelling demographic and economic factors that will provide a solid platform for future growth when market sentiment improves.

The Company will monitor investment opportunities and seek to exploit market dislocations, whilst actively managing a diversified portfolio and ensuring a comfortable level of liquidity


/more:

energyi
14/12/2008
08:10
Why would a company listed on AIM price its shares in USD? I tried to buy some of this a few months back and got a funny tone of voice from my broker. Apparently the problem was the currency of the listing. Of course I'm glad now, though it might have stopped me buying something worse...but one day I might want to buy in. I certainly liked the look of it from the research I did before I failed to buy any.
zangdook
25/9/2008
03:34
Ratings Agencies downgrade Galaxy and Sands

Total Debt to EBITDA ratios
------------------- : /Dec. : /Dec. : /Dec. - /Dec. : /Jun.
Period to --------- : -2004 : -2005 : -2006 : -2007 : -2008
Las Vegas Sands LVS : 05.93 : 02.81 : 06.07 : 13.71 : 13.37
Galaxy Entertn. XXX : 02.13 : 901.3 : N / A : 05.18 : 07.13

Meantime, Galaxy's revenues fell 22%

LVS down to "four levels below investment grade"
potential for a "significant slowdown in growth trajectory in Macau"

energyi
03/8/2008
16:17
Companies with Macau Business Exposure
Bank of China Macau Reduces HK$ and MOP Best Lending Rate - A
news report recently released stated that Bank of China Macau Branch
reduces its MOP best lending rate by 50 basis points to 5.25% p.a. with effect
from 25 March 2008.
Consultations on Public Transportation Continue - The Government is
planning to create bus lanes in Macau's busiest streets and some other
specific areas during peak hours to ease traffic jams. Currently, the small nineseat
buses have been criticized for not going to Taipa.
Company News Macau Business Update Continued...
Scandal Puts Brake on Macau Development - The government
approval process for property development had been protracted by at
least 6-12 months in the wake of the corruption scandal brought on by
former secretary for transport and public works AO Man-long. Several big
property developers have faced approval delays for Macau projects but
Speymill Macau is believed to be the 1st firm to walk away from a major
investment due to the scandal issue. Speymill had pulled out from Bel-
Lago project due to the protracted process of applying for and receiving
certain building permits from the Government, according to the recent
news reported by South China Morning Post.
MCAU Headline NAV US$1.46 per share -
• Net asset value growth of 28.7% on net placing proceeds and NAV of
US$1.46 per share (excluding deferred tax and performance fee
accrual)
• Successful investment into US$197 m of gross asset value
• Growth in underlying property values of more than 35% since launch
• Sale of the Company's purchase rights in the Lot U development and a
resulting gross return of 125% on invested capital is expected
• Termination of Bel-Lago (C9) forward funding arrangement due to
delays in the planning process and a subsequent failure on the part of
the developer to meet contractual deadlines
Company Ticker Price as at
31/3/08
% Change
since
17/11/06
Market Cap
($million)
Speymill Macau Property
Co PLC
(1)
MCAU.LN US$1.15 15% US$149.50
Macau Property
Opportunities Fund Ltd
MPO:LN £1.04 4% £108.68
Wynn Resorts Ltd WYNN US US$100.64 7% US$11,294.73
Las Vegas Sands Corp LVS US US$73.64 -19% US$26,168.19
Melco PBL Entertainment
(Macau) Ltd.
(2)
MPEL US US$11.38 -40% US$5,009.26
Polytec Asset Holding Ltd 0208 HK HK$1.89 -25% HK$8,389.65
Shun Tak Holding Ltd 0242 HK HK$10.30 -14% HK$23,978.50
Esun Holdings Ltd 0571 HK HK$2.51 -71% HK$2,076.16
Galaxy Entertainment
Group Ltd 0027 HK HK$5.77 -31% HK$22,708.64

/see:

energyi
28/7/2008
14:53
11 June 2008

High-end US$132 million Residential Investment

Speymill Macau Property Company plc (AIM: MCAU), the Macau focused property investment company listed on AIM, is pleased to announce that, on 10 June 2008, it entered into a forward funding arrangement with Companhia de Construcao e Investimento Ho Chun Kei, Limitada, a local Macau developer ("Ho Chun" or the "Developer") to finance the development of a high-end residential building in the inner harbour area on the southwest of Macau Peninsula.

At completion of the development, the Company has committed to purchase 259 residential units, ranging in size from approximately 870 square feet gross floor area for 2-bedroom units to approximately 1,300 square feet gross floor area for 3-bedroom units. The development will consist of 4 towers and aim to be a landmark residential development with a clubhouse and car park. The residential units will offer excellent views over to Zhuhai as well as landmark views over Penha Hill and Central Macau Peninsula. It is currently envisaged that the units will be sold prior to completion and handover in 2010.

The total consideration is HK$1,028,036,000 (US$132 million), of which 30% is to be settled immediately, with the remainder becoming payable upon completion. The Developer has achieved all relevant government approvals, planning and building permits as well as licenses for the development. The development is currently undergoing the formal process of achieving government gazetting for its revised land conditions and this process is expected to be completed within the next 12 months. The location of the development should benefit from the opening of Ponte 16, increased accessibility through the development of the light transit railway and the continued regeneration of the
inner harbour area.

Ho Chun started developing Macau real estate in the late 1970s and is currently
principally engaged in real estate development, property management, infrastructure construction and project management. It is one of Macau's prominent
developers and has developed and constructed
more than 100 buildings in Macau.

Commenting on the investment, Peter Churchouse, a director of the Company, said, "This acquisition offers a great opportunity to invest
in the emerging inner harbor area of Macau with its close proximity to the historic parts of Macau Peninsula, the central business and gaming districts. We believe that the smaller size of the units should be attractive for local residents as well as international buyers. We remain confident in the demand for modern housing units in a supply-constrained economy that is growing its labour force very rapidly.
Further I would like to take the opportunity to thank our investors for their continued support of the Company and its strategy."

/see:

energyi
10/4/2008
05:26
/from GEI:

Despite Macau boom, Developers could hit bumps... / says Asian Wall St. Journal

- Only 2,000 of the 87,000-odd foreigners living in Macau can afford some of the luxury apartments coming on the market in the next two years

- Speculators ("sales by confirmer"?) now make up 28% of total property tarnsactions vs. 2% in Hong Kong

- 5,704 units will be completed in 2009, more than double the 2,710 expected in 2008

- Prices have already gone up so much, "who can afford?" ask local property agents. Buying into the new luxury
.. units might "mean spending 70 cents out of every $1 of income" on the mortgage

Brokers have "sell" recommendations on: "high profile developers":
+ Shun Tak Holdings - 70% of NAV is property, mainly in Macau
+ Polytec Asset Holdings

Some remain bullish on Macu propery itself, citing:
+ higher salaries (+18%) and cheaper loans,
+ Hotel and casino openings will require 20,000 more jobs

But maybe the low end will outperform luxury, like in HK

energyi
27/2/2008
06:08
PROFIT : pt. 383.5 million ? : "approx. 38% more than it paid in Dec. 2006"
SOLD: pt 1.29 Biullion
COST: hk$ 906.5 million
"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 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."
= =

Speymill Macau Property sells Hong Kong development interest for 160.3 mln usd

LONDON (Thomson Financial) - Speymill Macau Property Company PLC said it has agreed terms to sell its interest in 243 residential units and car parking
spaces in three towers of a luxury waterfront development for 160.3 mln usd.
The company said the sale will generate a gross profit of 44.0 mln usd,
yielding a gross return on its invested equity of 125 pct.

It will get cumulative net disposal proceeds of 78.9 mln usd.
Speymill said the disposal places it in a strong position to pursue other
attractive investment opportunities which it has identified in the Macau
property market.

energyi
27/2/2008
05:33
(from today's CHINA Daily):

A London-listed company (MCAU.L) sold 243 residential units (with parking spaces) in three luxury towers at Rue Central da Areia Preta on Macao peninsula for 1.29 billion patacas, approx. 38% mopre than it paid in Dec. 2006.

Macau Property Opportunity Fund (MPO.L) recently purchased 24 residential units from One Central Macau Residences, in addition to its previous acquisition of Tower 6 of OneCentral in Nov. 2006.

"we predict a total of 3,480 luxury residential units come into the pipeline in 2008"

energyi
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