Macau Property Opportuni... Share Discussion Threads

[zangdook] 01/3/2023 10:06

Quel Poseur thinks tickets are printed when shares are traded. perhaps he's a trainspotter manqué?

[quepassa] 01/3/2023 08:02

Soaring gaming revenues.

Just the first two months of 2023 are more than 50% of the whole of 2022.

[catabrit] 23/2/2023 09:34

I don’t think anyone is particularly worried about the smaller apartments. It’s the big elephants that probably explains the large discount to NAV. That and the market’s suspicion of the manager’s commitment to liquidate quickly. I think the latter concern should ease over time as sales increase and people realise it was more about the lockdown than management’s incentive to delay to collect the AM fee.

[catabrit] 23/2/2023 09:31

Nice discount that should be eradicated over time as they liquidate. That said, there’s some challenging assets in the portfolio so the discount is probably warranted. I worry about the large villas as the demand pool is much smaller. Think we need to give this a bit more time as Macau / China has only recently re-opened. I like the r/r and continue to hold and would be happy to add on weakness.

[quepassa] 23/2/2023 08:30

Share trades at c. 57.5% discount to latest NAV


Share price 56.5p
NAV 133p (declared 17/2/23).

all imo. dyor.
qp

[quepassa] 23/2/2023 08:26

Today's RNS.

"The dramatic effects of the easing of COVID-related restrictions can only benefit the outlook for Macau, leading to a more supportive environment for the Company as it pursues its divestment strategy."

all imo. dyor.
qp

[quepassa] 23/2/2023 08:16

Wakey, wakey.

They only sold ONE unit at Waterside in the six months to 31/12/22

In just the last 7 weeks since period end, they have sold SIX units for $14.6m.

With TWO fully sold and 4 exchanged contracts.


SIX units in seven weeks tells its own story after the near-famine of sales during the multi-year pandemic lock-down.

It is also fascinating to compare the upbeat tone and outlook of today's announcement with the outlook of 13/1/23.

ALL IMO. DYOR.
QP

[quepassa] 21/2/2023 13:08

Yes.

That's great and ALWAYS reassuring and a positive signal to see Director Buying.

Around £24,000 of shares bought.

Carmen Ling, NED and Board Director buys 50,000 shares at just under 48p on 16/12/22.

Her interesting Bio here:-

hXXps://mpofund.com/the-management/board-of-directors/


all imo. dyor.
qp

[catabrit] 21/2/2023 12:28

Nice to see one of the directors buying today.

[livewireplus] 01/2/2023 12:41

.... but it does include the words 'hopeful' & 'possibility' .... .... personally I am hopeful about the possibility of getting all 6 numbers on the National Lottery .... (I'd then happily get a divorce and give up 50% of the winnings :-).... and for MPO I'd be hopeful about the possibility of the share price getting to two-thirds of NAV .... ( I'd then happily sell my holdings :-)

[quepassa] 01/2/2023 09:52

Well that's certainly the most bullish thing I've read from MPO in a while:-

"The Board welcomes the recent abandonment of the Chinese government's zero-COVID strategy and is hopeful that as the market continues to open that the possibility for significant further disposals will increase."


ALL IMO. DYOR.
QP

[quepassa] 13/1/2023 10:52

you really don't understand the difference between

1. The published spread
2. Brokers' prices
3. Mid-market spreads
4. Dealing prices.


and if you think that ADVFN only offer nominal quotes for PAYING SUBSCRIBERS, you haven't got a clue

[quepassa] 13/1/2023 10:47

I guess you're not on many people's party list, are you?

But then you know that already how people avoid you because you are such an absolute bore.

On a day when a market update comes out, this is all you've got. Speaks volumes about you.

[zangdook] 13/1/2023 10:23

It's good to hear you've given up your nit-picking, Ernesto. Now you won't start fussing if I quote the actual spread without double-checking it with your value-for-money advfn subscription-only nominal spread quotes.

[quepassa] 13/1/2023 09:16

zangdook - yawn.

always nit-picking and trying to find fault with what others say.

not a single original thought or opinion - ever.

never adds to the debate but just detracts and dulls it. a wet blanket

what an absolute bore he is.

[livewireplus] 13/1/2023 08:11

Indeed. From todays RNS then it indicates Discount to Adjusted NAV of 61.6% and Cash balance US$3.5 available for working capital

[zangdook] 13/1/2023 08:10

some of them, not all of them

[quepassa] 13/1/2023 07:28

Better a slow recovery than no recovery.

Today's RNS - if you look through all of the negativity of 2022, the update points to a lot of positive comments that the market has turned the corner with pent-up demand now that Covid-restrictions have been suddenly lifted.

[livewireplus] 11/1/2023 16:10

Regional realtor expects slow recovery in property market | MACAU DAILY TIMEShttps://macaudailytimes.com.mo/real-estate-regional-realtor-expects-slow-recovery-in-property-market.html

[quepassa] 10/1/2023 16:31

Page 9 today, FT.

near full-page article on Macau headed:

" MACAU BETS ON BECOMING GLOBAL TOURISM HUB - Big casino operators will invest $15bn over 10 years with more than 90% to be spent on non-gaming developments. "


A likely major stimulus for the property sector.

ALL IMO. DYOR.
QP

[quepassa] 10/1/2023 13:50

Using the September NAV of US$1.65 per share, at today's fx rate of 1.21 that gives a current NAV of some 136p.

Even if Macau property values were to have fallen a little since September (and I don't know if they have), the Discount to NAV is in the order of 60-65%.

Against the re-opening of China, Hong Kong and Macau, the discount of 60-65% versus share price looks grossly overdone - even accounting for the weak HK property market.

ALL IMO. DYOR.
QP

[livewireplus] 10/1/2023 10:46

Macau welcomes 40k visitors on the first day of new Covid measureshttps://focusgn.com/asia-pacific/macau-welcomes-40k-visitors-on-the-first-day-of-new-covid-measures

[quepassa] 09/1/2023 08:18

Hang Seng - best start to a year since 1999 as China reopens.

See today's South China Morning Post article:-

hXXps://www.scmp.com/business/china-business/article/3206055/alibaba-tencent-power-hong-kong-stocks-china-completes-rectification-fintech-business-while


That's great news for Macau.

ALL IMO. DYOR.
QP