Macau Property Opportuni... Share Discussion Threads

[bigmike100] 11/10/2013 09:17

thanks to you Shavian have a good day

[shavian] 10/10/2013 18:09

And well deserved too, BM. Have a digestive biscuit too. Many thanks for typing all that comforting news. I've spoken with two fund managers in the past week, both of whom say Macao is a special case where the Chinese government are concerned, because so many party officials go there on holiday. There's a bit of a crackdown on dodgy investment schemes going on in China right now, and the wealthy Chinese are being a bit careful about where they splash the cash, so they are spending instead! Good for Macao.

[bigmike100] 10/10/2013 15:46

Ok Shavian lets have a go. By the way blondeamon nice to see you aboard. I follow your posts on THT. I have tried to précis the article bySimon Thompson in Investors Chronicle week beginning Sept 27th "MPO announced sparkling set of results. Adjusted NAV per share rocketed by 31% driven by a 28% rise in the value of the property portfolio. Strong demographics should provide ample scope for further upside. Shares still trade on a wholly unwarranted 26% discount to book value. Macau property has been making some eye watering returns on its investments. They have agreed sale of the Zhuhai properties for £41m. the deal has been priced at a 42% premium to the carry value in the june 2013 accounts. That is after a 56% year on year valuation uplift. When the sale completes NAV value will receive a further boost of almost 14p per share. Expect more upside from other developments ie Fountainside and Waterside. (details in the article) Good news does not end there. Company aggressively buying back shares to take advantage of the share discount to NAV. AS a result this is helping to underpin the steady increase in the share price. Share repurchase will continue to remain a top priority as long as share price trades on an unwarranted discount to book value. Moreover even if my conservative target price of 220p is achieved as seems highly likely on the back of these sensational results, the share price discount to pro forma discount NAV of 273p ( taking into account the completion of afore mentioned property sale) would still be 20%. Needless to say I still rate the share a value buy on a bid offer spread of 192/193" I have done my best now time for a cup of tea.

[bigmike100] 10/10/2013 09:18

I am a bit of a luddite so don't know how to create a link. This afternoon I will type up the key points.

[shavian] 09/10/2013 19:37

Big Mike, can you reproduce article from IC please.

[bigmike100] 08/10/2013 15:57

Massive thumbs up from ST in the investors chronicle.

[cpfc84] 07/10/2013 18:49

Got myself some of these at 198. Glad I did. Just wish I read some RNS on this company a few months ago. Better late than never though.

The share buy backs are a good safety net for us all.

[wantage] 07/10/2013 16:49

very defensive stock in an iffy market

[azalea] 04/10/2013 15:08

Good to see S.T. buy recc getting some traction.

[shavian] 25/9/2013 08:18

2 quid. That'll do nicely for a start!

[tyranosaurus] 23/9/2013 13:10

Onwards and upwards.
Looking at NAV in excess of £3 per share at next results.

[stuffee] 23/9/2013 11:06

Boys done good, with growth in NAV to 260p at June 2013.

Furthermore this excludes surplus on sale of Zhuhai properties, sold in Aug 2013 for US$64m (compared to valuation at June 2013 of US$45m), with completion in Feb 2014. This will increase NAV by 13p. Receipt of proceeds should also provide big ammo to accelerate share buybacks early next year, which should further increase NAV.

There is also potential large surplus on the Senardo retail development, valued at US$73m in June 2013. This will be 70,000 sq ft retail scheme in City Centre, with final planning due and construction starting in early 2014.

The Board have also now confirmed there will be vote to consider liquidation of fund in Nov 2014. Even if shareholders decide to continue for a year or two, this potential for redemption of fund should keep discount tight.

[badtime] 23/9/2013 09:18

results out chaps

[stuffee] 13/9/2013 22:38

Blondeamon

I couldn't find Simon T's article in Inv Chronicle, either last week or today. Was it on the online service? Can you copy onto site?

[shavian] 13/9/2013 16:35

Bout time we had an NAV revision. Trustnet still has it estimated at 245p (last published 238p in March). So still a healthy 23% discount - some way to go before over-valuation rears its ugly head

[sammu] 09/9/2013 08:57

He has a better reputation than the rest of IC and has more of a following too I think. He's a bit late to the party but welcome nonetheless.

[shavian] 09/9/2013 08:14

Strong start again.

[badtime] 06/9/2013 12:59

Ah that explains the jump

[shavian] 06/9/2013 12:28

Kiss of death, usually! lol

[blondeamon] 06/9/2013 12:26

Just tipped by Simon Thompson in IC with a target price of 220p!

[tyranosaurus] 05/9/2013 12:41

Chart looking good for a run up to the results and hopefully thereafter.
This share seems to go up in bursts and this looks like the fourth one this year.

[shavian] 04/9/2013 16:32

Doh! Sorry..

[chorister] 04/9/2013 14:40

Try reading the RNS - they have gone from 25,600,817 shares to 24,598,792

[shavian] 04/9/2013 14:09

INVESCO now hold 27%. How many did they have before?