Macau Property Opportuni... Share Discussion Threads

[silkywhite] 21/12/2016 11:37

I bought at 122.5p this morning. The MMs keep lowering the ask price till they get a bite, then the ask price shoots up again.

[galeforce1] 21/12/2016 11:21

jbar

Looks like someone has decided to sell into a thin market, and this is pushing down the price.

If it continues we might get a bargain. But we are not quite there yet, with an offer price of 127.

[jbarcroftr] 21/12/2016 10:14

What has happened?

[silkywhite] 19/12/2016 17:00

Exclusive: The best investment trusts at big discounts to buy today, by veteran investor
23 AUG 2016
Nick Greenwood, who runs the Miton Global Opportunities investment trust, which invests in other investment trusts, has revealed the funds he is buying because he feels the discounts will narrow.

[blah, blah]

The final trust mentioned by Greenwood is Macau Property Opportunities. He noted that this trust trades at a discount to its net assets of close to 50 per cent. He said, ‘Macau is very out of favour now. China’s crackdown on corruption has really impacted in Macau. But more casinos are being built. The estimate is that forty thousand more workers will be needed for thoss casinos. Now, the unemployment rate is 2 per cent, so workers are going to have to come in from overseas. And they will have to be housed, so whatever about the casinos, the property market in Macau should benefit, yet this trust trades at a 50 per cent discount to net assets.’Greenwood runs the Miton Global Opportunities Investment Trust, which has returned 42 per cent over the past five years.

hxxp://www.whatinvestment.co.uk/revealed-the-best-uk-property-fund-for-investors-to-buy-right-now-by-prominent-analyst-2541046/

[flagon] 19/12/2016 12:02

For 2 straight years from Q1 2014 to Q1 2016 the US$ NAV declined with barely a hiccup. Q2 & Q3 2016 showed improvement ... hopefully the Q4 US$ NAV due in January will show the same.

[silkywhite] 19/12/2016 11:53

[...]

Experts name best funds to be in right now
By Marina Gerner (Money Observer) | Fri, 2nd December 2016 - 12:17

Sentiment towards the Chinese autonomous island state and gambling hot spot of Macau has been dire over the past couple of years, says Greenwood.

A clampdown on corruption by the mainland government ensures that no self-respecting Chinese official can be seen anywhere near the former Portuguese colony.

But Macau's long-term ambition is to move away from its roots as a gambling den and follow a business model along the lines of Las Vegas.

While local casino stocks such as Wynn Macau and MGM China have already surged in value, the overlooked UK-listed closed-ended fund Macau Property Opportunities (MPO) has yet to join the party.

[silkywhite] 19/12/2016 11:51

Patience pays off
Kelsey Wilhelm | 15/12/2016 | in MACAU
Sniper Capital’s Senado Square retail development finally gets the green light
A retail development property whose land was originally acquired in October of 2007, has finally received approval for its architectural concept, and will proceed to the submission of the detailed plans to the Land, Public Works and Transport Bureau (DSSOPT), although being ‘subject to a number of minor comments’, according to an announcement by the Macau Property Opportunities Fund.
The fund is a closed-end investment fund listed on the London Stock Exchange and managed by property investment manager Sniper Capital Limited. The land in question is in the heart of Macau’s Senado Square, located behind the Macau Post Office.
The project was originally set out to be one of the fund’s first, having been acquired a year after the fund was set up, however, as revealed to Business Daily earlier this year by sources linked to the project, it is ‘sensitiveR17; given that it has ‘taken time to work out the design parameters’.

more............hxxp://macaubusinessdaily.com/Macau/Patience-pays

[silkywhite] 19/12/2016 11:49

if the NAV was US$2.99, 230p, per share based on a US$/GBP exchange rate of 1.298 on 30 September 2016 then with todays exchange rate of 1.246 NAV is 240p.
That's an extreme discount. Almost 50%!



Macau Property Opportunities Fund

04 November 2016

4 November 2016

Macau Property Opportunities Fund Limited

("MPOF" or the "Company")

Quarterly Net Asset Value update

Macau Property Opportunities Fund Limited, managed by Sniper Capital Limited, announces that its Adjusted Net Asset Value for the period ended 30 September 2016 was US$228.3 million.

This is equivalent to US$2.99 (230 pence*) per share and represents an increase of 0.9% from the previous quarter.

*Based on a US$/GBP exchange rate of 1.298 as at 30 September 2016.

[luckymouse] 14/12/2016 14:28

What goes on in Macau, stays in Macau - as they say :)

[silkywhite] 14/12/2016 07:43

Yes good news this morning

[quepassa] 14/12/2016 07:28

Excellent progress.

Well done to MPO on getting preliminary approval for the redevelopment of their flagship Senado Square site. This is normally in Macau a very positive signal for receiving full and formal approval which is being applied for in Q1 2017.

Hopefully coming at a time when Macau real-estate and visitor numbers are on the distinct uptick. This should feed through to uplift in MPO valuations in due course. A site with planning permission is more valuable than one without!

Am visiting Macau shortly and will report back. Always important to go and kick the tyres of one's investments.

ALL IMO. DYOR.
QP

[luckymouse] 30/11/2016 11:46

Sands China has broken out

[silkywhite] 28/11/2016 11:59

sterling falling again
good for mpo's nav I'd have thought.
what was the last reported nav?

[luckymouse] 21/11/2016 14:50

Reasonably good correlation between property mkt and gambling mkt - Sands China for instance - which is also slowly on the turn - Macau gambling mkt 7 times bigger than Vegas apparently!

[quepassa] 08/11/2016 08:42

The story about the major hike in stamp duty on real estate in Hong Kong is all over The FT today. Bad news for HK property stocks which have fallen on the back of the tax increase.

But Hong-Kongers love owning brix-n-mortar.

With the completion of the HK-Macau bridge on the near horizon COMBINED with;-

1) The bottoming-out and incipient upturn in Macau's real-estate market
2) Improving economy in Macao
3) The opening of some new maga-resorts in Macau which will be a powerful magnet for visitors
4) The re-emergence of good numbers of mainland China visitors to Macao
5) Macao soon to be a short car journey away rather than a lengthy ferry-crossing ride

and now

5) A massive hike in HK stamp duty


...this looks like a potent mix to me for a forthcoming surge in interest in real estate Macao.

In my opinion, after a long eclipse for Macao, it appears that the stars are very much aligning for Macao. - And when MULTIPLE factors come together, that is in my experience a very positive and extremely powerful sign for increasing values.

In my opinion, MPO has only this year just started on its upwards trajectory and has a lot, lot further to go over in 2017 and beyond.

ALL IMO. DYOR.
QP

[quepassa] 07/11/2016 08:06

Hong Kong stamp duty has been increased significantly




My guess is that this is very likely to have a big positive knock-on effect for Macau property and to give Macau real estate a major boost.


ALL IMO. DYOR.
QP

[spectoacc] 04/11/2016 07:32

Not much in way of commentary but £/$ means higher NAV already:

"Macau Property Opportunities Fund Limited, managed by Sniper Capital Limited, announces that its Adjusted Net Asset Value for the period ended 30 September 2016 was US$228.3 million.
This is equivalent to US$2.99 (230 pence*) per share and represents an increase of 0.9% from the previous quarter.
*Based on a US$/GBP exchange rate of 1.298 as at 30 September 2016."

[jbarcroftr] 04/11/2016 07:21

Fair margin of safety

[luckymouse] 01/11/2016 20:37

Aseana Properties also running - Malaysia & Vietnam

[luckymouse] 20/10/2016 22:43

The joint venture also pointed out that one of the local buyers had spent HK$68 million for 12 units of the luxury project.

Sounds like smart money moving into the dip

[luckymouse] 20/10/2016 22:38

This senior guy is putting his consortiums millions in

Edwin Cheung, chairman of the Concordia consortium:

When questioned on the development of the Macau real estate market, the Concordia chairman said he believed housing prices would go up stably in the coming two years driven by the lack of sufficient private housing but without a “significant surge”.
“I believe our major customers will be local residents (…) The size of the local property market is only 1/11 that of Hong Kong, with a population amounting to some 650,000,” he added.
According to the Sky Oasis release, the majority of potential buyers are from Macau, with the remaining hailing from Mainland China, Hong Kong, South East Asia and Europe.
Mr. Cheung believes that with the number of marriages in Macau increasing to 7,000 next year new families will be looking for new properties, with the smaller units at Sky Oasis targeting new younger couples or executives, while the most expensive four bedroom units target wealthy local families.

[shavian] 18/10/2016 22:59

QP: just seen your post 487. Apologies, it was in last weeks paper mag which I've since recycled or used to light the log burner. The gist of the article was that the Chinese crackdown on gambling was aimed at the super-rich, not he mass gaming market, which is now recovering with increasing strength. This, and the future bridge to Hong Kong, will revitalise Macau, and by association, its property market. That's all, not exactly rocket science. Leave that to the Chinese!

[luckymouse] 17/10/2016 23:25

The collapse of the pound has theoretically added 20% relative value to the Yuan assets

[spectoacc] 13/10/2016 11:06

A couple of big buyers around; a long way still to go IMO.

[spectoacc] 12/10/2016 13:20

If we've seen the bottom - and personally I think we have, but who knows where China's involved - there's a long way for MPO to climb. NAV increases to make up for the huge NAV losses, with discount compression at the same time.