Macau Property Opportuni... Share Discussion Threads

[bigmike100] 12/2/2014 17:54

that is a lot got to be good

[badtime] 12/2/2014 11:46

More large trades...buy backs?

[badtime] 05/2/2014 16:54

Couple of large trades today

[brownie69] 03/2/2014 18:28

Could not buy these at 211p today.

[badtime] 03/2/2014 10:20

well timed top up then

[badtime] 27/1/2014 14:49

Anyone. Topping up

[bigmike100] 24/1/2014 09:12

Cheers guys learning all the time

[stuffee] 24/1/2014 08:49

Very relaxed re all this.

With its 70,000 sq ft Senado retail development due to produce huge surplus next year, the completion of the $65m sale of its APAC / Cove centre next month which should crystalise 10p per share surplus and the continuing shortage of residential property in Macau, assets should exceed £3 per share by end of 2014.

The liquidation vote should be held in November this year.

There may well be occasional share price fluctuations but this is pretty secure. To be cynical another short term drop could encourage more share buy backs which increase nav still further. Buying in 5m shares at say 205p would increase nav by c 6p.

[rbdc1] 23/1/2014 21:33

I think after the bad news about the financial system in China earlier today everything related to China was sold off. Silly really...

[badtime] 23/1/2014 21:08

Maybe a large sell will show up over the next couple of days

[bigmike100] 23/1/2014 20:19

I can't see anything going on any ideas. I am a beginner compared to some of you guys. Could it be a tree shake?

[rbdc1] 23/1/2014 17:14

Odd to see a 4% drop!

[shavian] 30/12/2013 08:39

Fat finger syndrome, sorry. Take the other two as extra Christmas presents. Glad to see MPO getting a mention in the Telegraph's end of your round up as the best performing investment trust of 2013. So good I said it thrice!

[bigmike100] 26/12/2013 10:32

I got that one three times Shavian was that my end or yours?

[shavian] 25/12/2013 09:18

Just wondering what effect this Chinese banking squeeze will have on the economy of Macao, and hence on property values there. In the meantime, don't let it spoil your Christmas!

[shavian] 25/12/2013 09:18

Just wondering what effect this Chinese banking squeeze will have on the economy of Macao, and hence on property values there. In the meantime, don't let it spoil your Christmas!

[shavian] 25/12/2013 09:18

Just wondering what effect this Chinese banking squeeze will have on the economy of Macao, and hence on property values there. In the meantime, don't let it spoil your Christmas!

[stuffee] 19/12/2013 08:58

Sammu
I agree.
I would oppose having to wait for a full 5 years before the next wind up vote but might well be sympathetic to say a 1 or 2 year extension. That should probably reap the benefit from the bridge opening in 2016 as well as the full gain on Senado.

My guess is that Sniper as an interested party would NOT be able to vote on such resolution but this would be subject to discussion with the Regulator.

[sammu] 19/12/2013 00:11

I think the gap to (the expected future) NAV will continue to close over coming months, possibly helped by newsflow.
I'm interested in whether Sniper with 11.14% (and growing) will be exluding from voting for or against the termination of their employment (which they have stated they are against).
I don't think sniper have said why they don't think it is in the best interests, but if it is becuase they need more time to develope Sendo Square then may be it would be best to give them another year, but not open ended.

I think a proposal for an annual wind-up vote would be an interesting compromise.

[chorister] 17/12/2013 14:40

I think there's another consideration re the winding up.

I am almost certain that the Board is already on record as saying clearly that they do not believe that winding up will be in the shareholders' best interests. That may or may not be true, but in any event it will be an untenable position unless they can close the gap between the share price and NAV per share, because with a share price of c215p and NAV of c300p shareholders could get a notional 40% premium by voting to wind up.

IMHO opinion the Board will do everything they can to close that gap, with buy backs, disposals etc, which makes a very strong investment case for the next year.

[bigmike100] 17/12/2013 13:40

Many thanks stuffee, have a good day.

[stuffee] 17/12/2013 11:49

BigMike
Resolution has to be put to shareholders to wind up etc by Nov 2014. If passed (being special resolution requires 75% majority of those voting), Board will immediately accelerate sale of assets. I assume Board will opt to liquidate the company, rather than some alternatives reconstruction, unless it produces more value. The Macao real estate market is both liquid and pretty hot so I do feel majority of assets will be sold within say 3 to 6 months including Waterside; inevitably there will be a few that might take longer. I feel assets realised could be 300p (even allowing for Sniper's closing fee) and this could begin to be distributed to shareholders from mid 2015. Although say 80% might be distributed then, it might take a few more months for the rest to be sold.