Macau Property Opportuni... Share Discussion Threads

[ursus] 13/4/2010 15:29

onward and upward. please ensure this thread kept nice and quiet.

[gargoyle2] 26/3/2010 10:55

Anyone out there? It's been a while since the last post... I've been buying recently.. so have the directors.. move to the main LSE market in the next few months.. lovely chart... anyone...?

[don muang] 23/6/2009 10:24

No longer a holder .... sold out 18 to 24 months ago .... but still following with interest .... might buy back in some time in the future (but not yet) ....

[energyi] 23/6/2009 09:47

RELATED
(1)
== == ==
Fulton Mak, writing in today's SCMP:
"I'm surprised to learn that it quit the deal without securing a new buyer and was returning the property to the developers," said Gregory Ku Ka-ho, the managing director at Jones Lang LaSalle (Macau)

Many buyers had shown interest in the project and were willing to take it over at HK$3,800 to HK$4,000 per square foot, Mr. Ku said. Owners needed to spend about HK$700 to HK$800 psf to furnish the units, as they would be bare upon delivery, he added.

Units at One Central Residences, launched for sale in the second half of 2006, fetched more than hk$8,000 psf when the market peaked in 2007. But selling prices have dropped to between hk$4,800 and hk$5,000 psf in the secondary market.

(2)
== == ==
THE SALES EFFORT - described here, failed

Thursday, October 16, 2008
Iceland firms put properties on sale
Country's economic collapse prompts bid to divest holdings in Hong Kong and Macau.

Icelandic companies are offloading real estate in Hong Kong and Macau following the collapse of their country's financial system, raising fears other cash-strapped foreign investors are preparing to exit the local property market.

Iceland is among the countries worst hit by the credit crunch, with its financial system in virtual meltdown. Its banks have shortfalls or losses of about £37 billion (HK$504.23 billion), equivalent to £115,000 for each of its 320,000 citizens.

The small island nation's largest insurer, Sjova-Almennar Tryggingar, is selling its residential block at One Central Residence in Macau, while in Hong Kong, Iceland-based investment bank Askar Capital is putting it jointly owned luxury homes in Chung Hom Kok on the market.

"As the country is in big trouble, it is sensible that private institutions will try to repatriate funds back home," said a source familiar with the Macau deal.

Sjova-Almennar Tryggingar bought the Macau property, which is still being built in November 2006 at HK$782.74 million, or HK$4,410 per square foot, from a joint venture between Hong Kong Land Holdings and Shun Tak Holdings.

The insurance company has paid 30 percent of the purchase price and is required to pay the balance when the property is ready to be handed over next year.

/more:

[energyi] 15/1/2009 12:55

yes, but...
Property prices in Macau are collpasing in the face of rising new completions, and a shrinking work force.

All those rosey assumptions were wrong, unfortunately

[lord orphan] 05/12/2008 17:58

At the current US dollar exchange rate MPO's last reported NAV is 192p per share or 3.5x the share price. The company has net cash and no debt.

[energyi] 28/7/2008 16:11

Macau Property agrees HK$642.82 million loan facility (Macau Property Oppor)

LONDON (Thomson Financial) - Macau Property Opportunities Fund said it has
agreed for a club loan facility of HK$642.82 million with a consortium of
international and Macanese Banks, led by HSBC.
The debt facility will be used to finance the remaining amount for Tower 6
and the 25 individual units acquired by the company in One Central Residences,
Macau's premier luxury residential development currently under construction.
Drawdown of the loan will be upon handover of the project in 2009.
The term of the loan is about 4.5 years to Sept. 30, 2012, with drawdown to
be made no later than December 30 2009, Macau Property said.

[energyi] 11/4/2008 03:29

Macau Properties first-quarter net asset value rises 17 pct to $2.60 per share




LONDON (Thomson Financial) - Macau Property Opportunities Fund Ltd said its
net asset value for the first-quarter ended Dec 31, 2007 rose by 17 percent to
$2.60 per share, and valuations of its portfolio properties rose by 22 percent.
The company said its four properties are at various stages of development
and and are well placed to continue contributing to the value of the company
going forward.
Macau said in view of the declining global debt environment, it has taken
steps to secure forward financing for the balance payable on its One Central
investment and for the redevelopment cost of Property 1.
Terms have been agreed in principle with a consortium of lenders and the
facility is now subject to their normal internal approval processes, it said.
[e-mail]
vsr/ra

[energyi] 10/4/2008 06:27

/from GEI:

Despite Macau boom, Developers could hit bumps... / says Asian Wall St. Journal

- Only 2,000 of the 87,000-odd foreigners living in Macau can afford some of the luxury apartments coming on the market in the next two years

- Speculators ("sales by confirmer"?) now make up 28% of total property tarnsactions vs. 2% in Hong Kong

- 5,704 units will be completed in 2009, more than double the 2,710 expected in 2008

- Prices have already gone up so much, "who can afford?" ask local property agents. Buying into the new luxury
.. units might "mean spending 70 cents out of every $1 of income" on the mortgage

Brokers have "sell" recommendations on: "high profile developers":
+ Shun Tak Holdings - 70% of NAV is property, mainly in Macau
+ Polytec Asset Holdings

Some remain bullish on Macu propery itself, citing:
+ higher salaries (+18%) and cheaper loans,
+ Hotel and casino openings will require 20,000 more jobs

But maybe the low end will outperform luxury, like in HK

[energyi] 31/3/2008 04:56

I ma liking MPO more and more as it approaches 100p

[energyi] 27/2/2008 05:37

(from today's CHINA Daily):

A London-listed company (MCAU.L) sold 243 residential units (with parking spaces) in three luxury towers at Rue Central da Areia Preta on Macao peninsula for 1.29 billion patacas, approx. 38% mopre than it paid in Dec. 2006.

Macau Property Opportunity Fund (MPO.L) recently purchased 24 residential units from One Central Macau Residences, in addition to its previous acquisition of Tower 6 of OneCentral in Nov. 2006.

"we predict a total of 3,480 luxury residential units come into the pipeline in 2008"

[lord orphan] 08/2/2008 17:53

At 105p this is a very cheap stock. I estimate it's on a 20% discount to NAV and yet asset values are growing at 30%pa ungeared. Time to top up.

[energyi] 24/1/2008 13:38

energyi - 22 Oct'07 - 08:02 - 141
let's see how these hold in the next few days

Back to 110p, and maybe a bargain now

Good news:

[woracle] 12/1/2008 19:40

Gov land sales fetched 10 times reserve price.. should push property prices 25% this year.

[madengland] 13/12/2007 08:38

Agree, no way of knowing but macau good long term bet nevertheless. Rgds

[hectorp] 12/12/2007 11:16

Morning,
I did say 'either that or' in my post. I have no way of knowing , if we did, I'd be very long or very short some major Banks etc.
I sense it will largely be limited to Finacials etc which have already let their positions be known, though some could still be reporting subprime problesm as late as spring, most of it is in the open. Also I no longer see a US 'Recession' simply some weakness. Macau and the events over there are to a certain extent, in a different world.

[madengland] 10/12/2007 09:57

Agree Hectorp on long term prospect MPO. Tell me how your studies have led you to believe the credit squeeze is nearly over?

[hectorp] 09/12/2007 13:51

I'm a buyer here, and at current prices. Also in DDC ( Poland Hungary etc)
I'm not worried about any possible retest of August.
I suspect on my studies that the credit squeeze is 'nearly' over in the West, either that, OR it will not much trouble China.
I am also addding to JMC ( China Trust).

H.

[grippa] 01/11/2007 08:58

Positive news!

The Board of Macau Property Opportunities Fund Limited received notification
today that Sniper Capital Limited ("Sniper Capital"), the Manager of the
Company, bought on 29 October 2007, a total of 262,500 ordinary shares of
US$0.01 each in the Company ("Ordinary Shares") at 117 pence per Ordinary Share.

The beneficial interest of Sniper Capital in the Company, following this
transaction, is 262,500 Ordinary Shares, representing 0.25% of the total issued
ordinary share capital of the Company.

Tom Ashworth, a non executive Director of the Company, is a shareholder and
director of Sniper Capital and such company is a connected person of him. In
addition, Mr. Ashworth currently has a beneficial interest in 750,000 Ordinary
Shares. Accordingly, the aggregate beneficial interest in Ordinary Shares of Mr.
Ashworth and persons connected with him is 1,012,500 Ordinary Shares,
representing 0.96% of the total issued ordinary share capital of the Company.

[energyi] 22/10/2007 09:02

let's see how these hold in the next few days

[qs9] 10/10/2007 07:21

All looks very strong and have tucked a few away for the next year or so as can only see this heading one way IMO

[energyi] 02/10/2007 08:06

The fundamentals of macau and the price action in property still look good

see: