Macau Property Opportuni... Share Discussion Threads

[quepassa] 21/9/2016 07:20

Well, that's what we were hoping for.

Growing evidence that the recent property woes and downturn in Macau had bottomed - and that seems very much the case here with an incipient upturn.

The Discount to NAV is not justified and perhaps represents a great opportunity.

My reading is that there is next to no chance of the fund being wound up this year.

Overall upbeat about prospects going forward against a gradually improving market.

The new openings of the mega-resorts in Macau and their pulling-power are not to be underestimated.

Personally comfortable and optimistic about share price going forward.

ALL IMO. DYOR.
QP

[silkywhite] 21/9/2016 07:03

up 7% on these results.

[spectoacc] 21/9/2016 06:38

Results out - the backward-looking part is inevitably bad, but finally with some positive noises going forwards - Chairman's statement is worth a read.

Also worth highlighting this para:

" An AGM and a discontinuation vote will be held in November, following presentation of the Board's recommendations to shareholders. These will include extending the Fund's life for another 2 years from November 2016. Thereafter, it is proposed that a 1-year extension be voted on annually, with the voting threshold reduced from 75% to 50% from 2018 onwards."

Turkeys don't vote for Christmas, so it seems to reflect a confidence that things will improve enough for the votes to be for continuation.

[luckymouse] 19/9/2016 12:21

v interesting if you have one eye on the Macau Property mkt.
Macau is the Las Vegas of China with some local regulatory latitudes - so behaves a bit like a local economy. This is clearly bottoming & on the turn.
Next resistance 150-160 area

[silkywhite] 07/9/2016 09:34

Ask price moving up. Someone is pushing this up.
GLA.

[silkywhite] 06/9/2016 12:29

Resuming upwards trajectory.
From a chart perspective I can see this at 150p before too long.

[luckymouse] 02/9/2016 18:09

perky bottom

[silkywhite] 18/8/2016 13:59

That's positive news. Macau is mecca for millions of Chinese.

[silkywhite] 16/8/2016 09:17

Sometimes it pays to wait. Got some more at 117.5p

Sterling has weakened by 2% against the US dollar since the last NAV update on 3rd August so all things being equal the NAV will be over 227p now.




-----

Macau Property Opportunities Fund Limited, managed by Sniper Capital Limited, announces that its estimated Adjusted Net Asset Value for the period ended 30 June 2016 was US$226 million.

This is equivalent to US$2.96 (223 pence*) per share and represents an increase of 0.3% from the previous quarter.

*Based on a US$/GBP exchange rate of 1.326 as at 30 June 2016.

[silkywhite] 10/8/2016 08:32

I should really be buying more at this price since I think there is a comfortable 20% upside hear at least.

[luckymouse] 07/8/2016 14:48

nice technical bounce

[quepassa] 05/8/2016 09:15

You are absolutely right. Still cheap.

The current Discount to NAV reains a gift in my view.

One of those investments which just lost traction and became out-of-fashion as Macao suffered a few years ago from the China slowdown and the China clampdown on conspicuous spending by VIPs and UHNWI's.

When you find these bargains as the mood-music changes and the outlook for the chosen sector bottoms out and improves, there can be a dramatic narrowing of the Discount-to-NAV.

It reminds me of Las Vegas after the global financial crisis where you could buy properties in 2010/2011/2012 at 40% discounts to peak. Now Las Vegas property is highly sought after again and buoyant.

Macao is focusing more on bringing the masses in rather than mainly relying on VIP's/UHNWI's .This will stimulate demand for property.

Everything is cyclical. Macao is rebuilding and opening new venues. The HK-Macao bridge is certain to boost the economy.

All this points in my opinion to the beginning of the upturn.

ALL IMO. DYOR.
QP

[spectoacc] 05/8/2016 08:13

What I love about MPO is that it goes up 30p and is still cheap. Another +30p and it'd still be cheap. And that's based on current NAV, even before any (mooted..) Macau recovery.

1% off the £ yesterday won't have hurt either.

[quepassa] 04/8/2016 20:58

i read 2018.

let's just say 2018/19.

QP

[jbarcroftr] 04/8/2016 20:07

Originally I think the bridge was due for completion this year
Now it's back to 2019
Grateful,if anyone has more up to date information

[quepassa] 04/8/2016 17:24

Some interest building here.

Always tough to find the bottom but incidental news points to Macao poised after a few years of back-peddling to be on the front foot again.

It is amazing that Macao pulls in three times the gaming revenue than Las Vegas and this looks set to grow significantly.

Buiding a road bridge from Hong Kong to Macao will be a game changer and will ensure spectacular future growth for this island as the pre-eminent gaming resort in the Far East.

ALL IMO.DYOR.
QP

[silkywhite] 04/8/2016 10:59

good article.

I think we'll see this back to 150p over the coming weeks here.

[quepassa] 04/8/2016 07:47

Bloomberg. Two important news items.


1. Watch the short video interview 1st. August.

" Are the fortunes Changing for Macau?"




2.Read the article 27th. July .

"Tables Look Set to Turn for Asia's Worst Property Market"









Evidence pointing to the start of the upturn for Macao. Casino revenues stabilising and a growing interest in property in Macao, combined with several major new attractions and the Hong Kong-Macao bridge scheduled to open in 2018.

It seems to me that the enormous 50% discount to NAV on this fund is vastly overdone and has the potential to narrow rapidly.

ALL IMO. DYOR.
QP

[silkywhite] 03/8/2016 15:43

strong finish.

If the Macau property market has bottomed out as the flurry of news articles are saying then the net asset value of MPO has a lot of upside to make up the amount it has dropped.

start of the recovery imo

[spectoacc] 03/8/2016 15:19

223p vs last NAV of 205p if memory serves; no doubt mostly £/$ related but still, plenty of justification for the rise.

[quepassa] 03/8/2016 14:08

Nice article on Bloomberg also a week ago.

Seems to be at the bottom of the cycle.

Poised for the awaited upturn.

Been adding in small lots over past week. - Stock can be had but in smaller parcels - so building positions patiently is perhaps the way to go on this one.

ALL IMO. DYOR.
QP

[silkywhite] 03/8/2016 14:03

Market makers really want your shares. Bid price moved right up, tiny spread.

[silkywhite] 03/8/2016 13:34

Macau property market appears to have bottomed out finally.

hxxp://www.property-report.com/is-the-worst-over-for-macaus-hard-hit-property-market/

[silkywhite] 03/8/2016 13:33

Very hard to get stock. Poised for a sickening lurch upwards methinks.