Macau Property Opportuni... Share Discussion Threads

[m.t.glass] 26/11/2006 15:53

A bit of recent regional press reportage of residential property values in Macau

[grippa] 23/11/2006 11:00

Good spot Don, its seems like they are trading at a much higher premium (12%)to MPO without any investments yet? Maybe we are due a rise as more focus turns to Macau given the doubling of property funds now quoted?

[don muang] 22/11/2006 21:24

Seems MPO is not the only Macao reality fund now ..... as from last week then MCAU is also there. Following is an excerpt from the listing notice:

Executive Chairman, Speymill Group plc, Bob MacDonald said: "Macau is an outstanding opportunity and it represents one of the most compelling property investment cases we see at the current time. The launch of the Speymill Macau fund presents an opportunity to replicate the entrepreneurial property investment model we have piloted in Germany in other regions around the world. The strong institutional demand that Speymill Macau saw at the Placing is a further demonstration of confidence in the Group's approach to real estate investment."

[don muang] 20/11/2006 12:54

well the management at MPO is effectively down to Sniper..... not a great deal of info available on em .... but at least it's a fairly niche 'fund' - they didn't just jump on one of the existing flavours of the month .... and they have experience in HK and its environs.

[753690] 20/11/2006 12:17

For anybody with dirty habits, unwashed nins excepted, there is a six page article, with pictures, in the December 2006 edition of Cigar Aficionado.
Headline quote states - within the five-hour market of Las Vegas, you have 450 million people. Around Macau it is something like 3 billion!

Unfortunately, the article does note refer to the management capabilities of MPO

Regards

75

[grippa] 13/11/2006 14:26

Two deals reported in one day! Great to see the share price reacting.

Macau Property Opportunities Fund Limited
("MPOF" or the "Company")



#32 million Investment in Macau Residential Redevelopment



Macau Property Opportunities Fund Limited, managed by Sniper Capital Limited,
announces the completion of its third acquisition in Macau, an entry-level
residential redevelopment site situated on Macau Peninsula.



The investment gives the Company significant exposure to one of its stated
target segments, the entry-level residential market in Macau catering to the
local population.



Key Points:



* The 20,000 square foot site is located in an increasingly popular area for
entry-level residential properties close to the China border and on good
transportation routes.



* MPOF is investing a total of #32 million in the project, being the
acquisition price of #11 million and an expected redevelopment cost of #21
million.



* The Company plans to target the development towards the growing
entry-level market in Macau.



* This is MPOF's third investment since its admission to AIM in June 2006
and brings its total commitments to date to approximately #86 million.



David Hinde, Chairman of MPOF said: "This is an excellent acquisition at an
attractive valuation and follows a lengthy and complex negotiation process.
Although the Manager is operating in a highly competitive marketplace, its
strong local network continues to source an extensive and varied acquisition
pipeline. The Board remains confident that several more opportunities will be
converted in the near future."



Further Details:



The property is situated in the North of Macau peninsula in what is historically
an industrial vicinity. The area is now undergoing extensive regeneration, with
a new border gate and a major interchange for the planned light railway system
expected to be located nearby.



Being close to the China border and on good transportation routes to the rest of
Macau, the area is becoming increasingly popular for entry-level residential
properties. The Manager believes that there will be healthy demand from the
local community and burgeoning workforce for this housing segment going forward,
driven by the sharp rise in disposable incomes, low mortgage levels and high
saving rates.



The site is adjacent to large open spaces, giving unusually good views for
properties at this end of the price range. These factors further add to the
attractiveness and value of the site as a residential location.



MPOF plans to target this development at the entry-level purchaser in Macau. As
such, the total unit cost of each residential unit will be carefully planned to
meet local budgets.

Sniper Capital believes that these factors, combined with professional property
management, are expected to generate strong demand for the project.

[don muang] 13/11/2006 13:52

at least it's prompted some activity in MPO share transactions - which has lifted offer back to 100p

[don muang] 13/11/2006 09:14

Agreed.... I thought of highlighting the "Sniper Capital believes that One Central Residences is destined to become the apartment location of choice for investors and residents in Macau"... but as you've noticed !!! then most people reading it should notice the neat location !!!

[grippa] 13/11/2006 09:11

Macau is not on many peoples radar screen yet! Once people really start to find out about the new Vegas, these shares should hopefully see a little bit more action than they have seen so far. Nevertheless this is a longterm hold...5yrs ish!

[grippa] 13/11/2006 09:06

Don..The location needs stressing here! It absolutely fantastic!!

"Through its prime location sitting adjacent to Wynn Macau, connected to the MGM Grand Macau and overlooking the Nam Van Lake, Sniper Capital believes that One Central Residences is destined to become the apartment location of choice for investors and residents in Macau"

Its location is absolutely amazing. If Las vegas is anything to go by The Wynn will also be THE destination to go to in Macau, and hence anything around it will be extremely valuable. I like this purchase very much.

[don muang] 13/11/2006 08:52

GBP 45.5m Investment

RNS Number:9509L
Macau Property Opportunities Fund
13 November 2006

For immediate release 13 November 2006

Macau Property Opportunities Fund Limited
("MPOF" or the "Company")

#45.5 million Investment in Prime Residential Development

Macau Property Opportunities Fund Limited, managed by Sniper Capital Limited,
announces that it has entered into a Sale and Purchase Agreement for the
acquisition of a luxury residential tower in a high-end mixed use waterfront
project, ONE CENTRAL. This will be the first international standard development
in Macau and is due for completion in 2009.

The investment gives the Company immediate and significant participation in one
of its core target segments, the premium luxury residential market in Macau, via a development of unprecedented quality and positioning.

Key Points:

* The ONE CENTRAL project, located in a prime central waterfront location on
Macau peninsula, is being developed jointly by Shun Tak Holdings and
Hongkong Land.

* It includes seven residential towers set above a prime retail podium which
will set new standards for the premium luxury segment of the Macau market.

* MPOF is investing a total of #45.5 million to acquire one entire
residential tower consisting of 59 units with a total combined gross floor
area of 148,000 square feet.

* 70% of the consideration is payable upon handover of the property,
scheduled for 2009, further enhancing the returns to MPOF.

* The Company expects to hold the entire property until at least the end of
2009 during a period when the Manager expects to see a significant increase
in luxury residential values.

* This is MPOF's second investment since its admission to AIM in June
2006 and brings its total commitments to approximately #54 million.


Commenting on the acquisition, David Hinde, Chairman of MPOF said: "ONE CENTRAL
is destined to become the retail and residential location of choice in Macau and we are very pleased to have the opportunity to participate in this unique and prestigious development. This acquisition gives the Company excellent exposure to the luxury residential sector in partnership with two of the region's premier operators."

[don muang] 10/11/2006 20:43

yes ... it should have been three Billion....

I'm happy with it being a specialist fund just for Macu and environs.... no doubt there'll be a boom and bust cycle ..... but personally I think there'll be a lot more boom yet.

[hectorp] 10/11/2006 18:06

Don M you meant to state ' 3 Billion' people.

- Intersting company, maybe the only thing I don't like so far is it seems to concentrate on MCacau. The other is I'd like a much grater cap. £102 M quid wont go very far in that neck of the woods. You could buy a lot of square footage in Mumbay or maybe still even Moscow for a quarter the cost ..
I can see there are definite advantages, but also clear weaknesses in this territorially limited strategy, and of course, this will be an entertainment and media paradise for China.. but so far I am not convinced so buyeee for the moment.

[flashheart] 06/11/2006 09:37

Thanks for the info Don.

[don muang] 06/11/2006 09:10

It's still building its portfolio of properties ... wouldn't think much chance of a dividend until it's fully invested.....
and personally I'd prefer they reinvest monies for growth then rather than pay dividends

[flashheart] 05/11/2006 21:49

Can anyone tell me if this stock pays a dividend and if so what the yield is please.

[don muang] 05/11/2006 11:39

Profile of Macao seems to be rising nicely now ..... article in the Independent on Sunday today. Like the fact included in the last paragraph that three million people (almost half the world's population) live within a five-hour flight of Macau.

[don muang] 02/11/2006 11:58

At least MPO has couple of mentions in the Far East Special section of todays 'Shares' mag. Brief mention in the China Shares part. Then a neat write-up in the Property Plays part. It's given as one of the four 'Hot Prospects'se

[don muang] 01/11/2006 22:10

Las Vegas Sands Profit Rises at Venetian, Macau (Update2)

By Oliver Staley

Nov. 1 (Bloomberg) -- Las Vegas Sands Corp., the world's largest casino company by market value, said third-quarter profit increased 21 percent because gamblers wagered more at its properties in Las Vegas and Macau.

Net income rose to $97.3 million, or 27 cents a share, from $80.1 million, or 23 cents a share, a year earlier, the company said today in a statement. Revenue climbed 26 percent to $553.2 million from $437.6 million, the company said.

Las Vegas Sands said revenue increased 39 percent at the Sands Macao and climbed 11 percent at Venetian Resort Hotel Casino, its flagship Las Vegas resort. Billionaire Chief Executive Officer Sheldon Adelson plans to build a 20,000-room project in Macau, a new addition to the Venetian and the first casino in Singapore.

``Sheldon's genius is that he's got this vision that is so grand and he's been able to assemble the management team that's able to execute on the vision,'' said Brian Summers, associate portfolio manager at Thornburg Investment Management in Santa Fe, New Mexico, with more than 3 million company shares among its $28 billion under management.

The company's shares fell to $75.55 at 4:55 p.m. in trading after U.S. exchanges closed. Before the results were released, Las Vegas Sands rose 12 cents to $76.32 in composite trading on the New York Stock Exchange.

They have almost doubled this year, better than rivals MGM Mirage, which gained 17 percent over the same period and Wynn Resorts Ltd., which climbed 33 percent.

Las Vegas Sands also owns the Sands Convention and Expo Center in Las Vegas.

Analysts' Estimates

Excluding certain items including development and opening expenses, Las Vegas Sands earned 33 cents a share.

Harry Curtis, a J.P. Morgan analyst top-ranked by StarMine Corp. who has an ``overweight'' rating on the company's shares, estimated earnings of 29 cents, the same as 15 analysts surveyed by Thomson Financial. Thomson does not disclose the basis of its estimates to Bloomberg.

Macau is an autonomous region in China and the only place in that country that allows gambling. The Sands Macao, which opened in 2004, was the first U.S. casino to open there.

The company is also building the $1.8 billion Venetian Macao, scheduled to open next year. That property will anchor the Cotai Strip complex Sands is developing with Hilton Hotels Corp., Four Seasons Hotels Inc. and Starwood Hotels & Resorts Worldwide Inc.

While Las Vegas Sands was the first company to break Stanley Ho's 40-year monopoly on Macau, others are moving in. On Sept. 6, rival Steve Wynn opened the $1.2 billion Wynn Macau and on Oct. 19 Hong Kong-based Galaxy Entertainment opened the StarWorld casino.

Macau Competition

Next year will see the opening of Crown Macau, a joint venture between Melco Interntaional Development Corp. and Australia's Publishing & Broadcasting Ltd, as well as a casino from Las Vegas-based MGM Mirage.

Las Vegas Sands president Bill Weidner said in July the company would invest $8 billion in Macau.

In May, Sands beat out rivals Harrah's Entertainment Inc., MGM Mirage and Malaysia's Genting Bhd to build Singapore's first casino. Sands has lined up $6 billion in loans to fund the project, which is expected to open in 2009. The bid for the contract was $3.2 billion.

Sands is also developing hotels and condominiums on China's Hengqin Island and is in discussions with the Japanese government about operating one of that nation's first casinos should Japan lift its ban.

In Las Vegas, Sands is building the Palazzo, a companion casino to the Venetian that is scheduled to open in the third quarter of 2007. The company is also bidding to open a casino in Bethlehem, Pennsylvania.

Of the 18 analysts who track Las Vegas Sands, eight rate it ``buy'' and nine rate it ``hold,'' and one says ``sell.''

To contact the reporter on this story: Oliver Staley in New York at [e-mail] .

Last Updated: November 1, 2006 17:01 EST

[don muang] 25/10/2006 16:44

Tiny Macau overtakes Vegas Strip.... Macau, a tiny special administrative region of China, appears to have overtaken the famous Las Vegas Strip as the world's top gambling destination.

Full story at:

[grippa] 17/10/2006 11:35

Initial Property Acquisition

As announced on 4 October 2006, Macau Property Opportunities Fund Limited,
managed by Sniper Capital Limited, is in negotiations to acquire a number of
sites with a total combined value of #70 million.

MPOF is now pleased to announce the completion of its first investment in Macau
for a well-positioned residential redevelopment site.

Key Points:

* Total investment of #8.5 million consisting of an acquisition price of #4.6 million and an expected redevelopment cost of #3.9 million.

* The 13,000 square foot site is located in an established residential area
on south west Macau Peninsula popular with local residents.

* The Company plans to redevelop the site into residential apartments,
targeted towards the increasingly affluent local population.

* The acquisition was funded entirely out of the Company's cash resources,
but the Company is seeking financing for the redevelopment portion of the
project.

As has been previously announced, terms have been agreed in principle by MPOF on two other developments (one a redevelopment of a prime central site for retail and entertainment use and the other a luxury residential development, both in Macau) with a combined acquisition value of approximately #43 million. Final due diligence is still being undertaken on these potential acquisitions.

Commenting on the acquisition, David Hinde, Chairman of MPOF said: "This
acquisition fits very well with the Company's stated investment strategy of
focusing on niche development and redevelopment opportunities. We are pleased
with the quality and consistency of investment proposals which the Manager is
presenting to the Board and are confident that a number of these will lead to
further acquisitions in the near future."

[don muang] 09/10/2006 20:03

The article does mention that the casino-gambling revenue in Macau is now only slightly lower than Las Vegas. However presently the non-gambling revenue from the punters is over 10 times higher per visitor in Las Vegas. The main reason is that many of the Macau gamblers are presently day trippers. The great growth opportunity in Macau is getting punters from Japan, Korea etc. And there are now signs that's starting to happen. So we can look forward to MPO taking advantage of this via their focusing on a mix of niche developments and redevelopment opportunities

[grippa] 09/10/2006 13:49

Not only is it rivalling Las vegas already but it will soon overtake las vegas in terms of gambling revenue! Macau is growing amazingly quickly.