Macau Property Opportuni... Share Discussion Threads

[jbarcroftr] 05/1/2017 14:39

I suspect in 2018 MPO will offer an exit at no more than a 10% discount to net assets.Probably be creating a new fund
Anyway I am prepared to wait for another couple of years given the discount

[spectoacc] 05/1/2017 14:11

I've let go the ones from post no.519 (trade not showing), not because I don't think it's going higher, but because it was only ever a trade & have enough of an "allocation" to MPO already.

Can't claim any great prescience; if I had that, I'd have bought a bucketload at 116.5 offer yesterday..

[quepassa] 05/1/2017 13:16

I saw the following article in The South China Morning Post a few days ago during a recent visit to HK/Macau.

The newspaper article was headed "Fortunes seen turning bright for Macau" and highlights a report on anticipated economic growth and visitor numbers by Morgan Stanley. - For Macau watchers, further evidence of an upturn.

Herewith link to digital version (28th. December) of same article in the SCMP:-




ALL IMO. DYOR.
QP

[zcaprd7] 05/1/2017 12:46

Yes. Annoying that I was waiting for this to drop further... Too greedy!

[spectoacc] 05/1/2017 11:12

Seller must be licking his wounds - he was on at 116.5p offer yesterday morning, & it just AT'd at 131 (still, I might add, a quid below a slowly rising NAV).

[galeforce1] 05/1/2017 09:36

Also, the GBP/USD rate used is at 30th September, which was about $1.30 to the GBP.

That was just before Theresa May's disastrous speech to the Conservative conference,, which caused so much offence across the EU and caused the GBP to plunge to its current levels. Another triumph for British diplomacy!

[spectoacc] 05/1/2017 09:33

Interesting things to me are that the valuation is as of 30th Sept - would hope it's ticked up again since then, after two consecutive quarterly rises - and that it's got a long way to still recover in both NAV & share price terms.

Add to that, the exchange rate used (already about 4% better), and the possible winding-up 2 years from now.

[zcaprd7] 05/1/2017 09:27

Happy to see if the seller uses this rise to unload more...

[quepassa] 05/1/2017 09:26

Seems very positive to me.

Reassuring.

Sure there are challenges but the outlook seems increasingly positive for Macau and thereby demand for property. The new initiatives to fill voids and incentive packages to promote and facilitate sales are encouraging.

Neighbouring Hong Kong surging today on back of big improvement in economic indicators which recorded first expansion in 22 months.

I remain bullish.

ALL IMO. DYOR.
QP

[spectoacc] 05/1/2017 09:16

Someone 's bought 13k shares at a penny over (126.1p), quite a ballsy trade, but a lot of room for these to go higher IMO.

If, that is, the persistent recent seller has finished. I'd say the jury's still out on that.

[rogerbridge] 05/1/2017 08:30

I was looking to tuck some of these away for the long term but will now hold off and see what the next few months bring. It seems to be heading in the right direction.

[spectoacc] 05/1/2017 07:30

Update out, seems to read very well at a glance.

NAV is on a GBP/USD rate of 1.298 from last September.

[spectoacc] 04/1/2017 08:13

Same seller back again, was 116.5 offered then.

[luckymouse] 03/1/2017 21:07

Other asia/china property plays (ASPL, PACL) are ticking up nicely so I'm not imagining the prop mkt has btm'd - my guess is MPO also has an additional correlation to the gambling market - see Sands China adr

[hugepants] 03/1/2017 16:14

Bought some earlier. There is a quarterly investor update due in January according to the website.

[hpcg] 03/1/2017 12:32

End of last year I liquidated my tiny holding of a few months. Chart looks terrible. Back to 100 surely?

[spectoacc] 03/1/2017 12:09

Was very similar just before Xmas so has been going on a while - seller hits the bid, goes on with a very low offer, eventually gets swiped but returns again sometime later.

I'm a long(ish) term holder of MPO so happy to swipe a few where I can, but no idea how big this seller is.

[zcaprd7] 03/1/2017 11:53

I have my eye on this... Any reason for the drop, a seller and liquidity you reckon?

[spectoacc] 03/1/2017 09:58

That's my 115.5 but there's been a seller around for more than a week & can't rule out it going lower still.

[brwo349] 03/1/2017 09:20

hmm. Just tried to buy some when it was showing a 118p to buy and someone nipped in before me and bought a measly 1500 and now they want 124p. Is this always so illiquid.

The discount to net asset value is over 40% but is the financial position of this business sound enough? I've not had time to do much research here but is the liquidity and cash position ok? The LTV is just 40% which seems quite low

[luckymouse] 23/12/2016 10:47

China rolling over is spoiling this a tad - but PACL is going up?!

[flagon] 23/12/2016 10:00

Thanks for the above post SW.

Gross gaming revenue has increased for the last 4 months after 26 consecutive months of decline.

Link ->

We should get the figures for Dec 2016 in the New Year. I also added on the dip the other day.

[silkywhite] 23/12/2016 09:34

Macau's VIP gaming segment shows signs of recovery, one expert says
Aza Wee Sile | @Aza_Wee
Tuesday, 20 Dec 2016 | 9:39 PM ET



Morgan Stanley analysts also share the view that Macau's gaming cycle has turned, and raised its gross gaming revenue growth in 2017 to 10 percent from 2 percent, a December 15 report showed.

Macau's mass revenue is forecast to grow 14 percent in 2017, and 9 percent in 2018, while VIP growth is expected to advance 5 percent and 2 percent, respectively, Morgan Stanley analysts said.

[quepassa] 21/12/2016 14:00

Thank you, Mr. Market.

QP