Macau Property Opportuni... Share Discussion Threads

[martincc] 24/7/2013 08:36

Last overall nav was 238p, so around 255p if this sale goes through, with current share price 162/166p.
With a sale well above book valuation price, gives an indication of the market value of the other properties and indicates the last nav of 238p as being conservative.

[tyranosaurus] 24/7/2013 07:40

We now know why there were no share buybacks recently.
We don`t know the background to this sale. Were they being marketed for sale as part of a plan to slowly dispose of all the assets or was it a case of an offer too good to turn down.
When they have received all the proceeds there must be a good chance of a special dividend being paid.

[woracle] 24/7/2013 07:28

Worth about $30m more than in the books. Thats about 7% increase in NAV should it complete. MMs agree.. marked up about 7%.

[martincc] 24/7/2013 07:19

Last valuation 30 march 2013 was $33.416m for the two properties, selling for $64m ?

[sammu] 24/7/2013 07:17

Does (edit) anybody know what the Chinese properties were on the books for? The RNS doesn't make it clear whether the land is being sold too or just the completed property.

[tyranosaurus] 15/5/2013 12:38

We now know that Invesco have reduced by 3.8m shares but no idea who bought them. Looking doubtful that MPO bought them back as no RNS has been forthcoming.
Invesco still have 25m shares so further sales cannot be ruled out.

[shavian] 13/5/2013 06:45

Good article in Sunday Times business news about the strength of the Macao gambling industry. Re-balancing of Chinese economy to boost consumer spending seems to be going well. All positive for MPO!

[dr contrarian] 09/5/2013 13:44

Good to see the underlying value being recognised here.

Would be glad to see the Chinese property development in PMHL achieve just half the valuation that has been recognised here.

[shavian] 09/5/2013 12:52

Even better NAV uplift than Stuffee's inspired estimate! Great work MPO.

[tyranosaurus] 09/5/2013 12:41

Nice day to be in MPO
Lots of trading going on.
Will see how many they have bought back as they have not been able to until today.
That will push the NAV up even more.

[badtime] 09/5/2013 09:31

Nice set of results

[tyranosaurus] 09/4/2013 17:11

4 million shares traded in the space of a minute.
Looks like they have bought back another 2 million shares.

[stuffee] 28/3/2013 11:13

Badtime
Agreed.
Sale of Sky House at 23% premium to Dec 2012 value boosts confidence in valuations.
Based on Dec 2012 NAV of US$3.19, allowing for this surplus on Sky House sale and on current $1.51 : £ exchange, NAV would be 213p.
Slight concern re likely dampener on HK residential market with new loan restrictions etc to cool speculation, with possible impact on Macao. However Macao still at 60% discount to HK and gap should narrow.
With continuing growth, 140p price still at too great a discount to 213p NAV imho.

[badtime] 28/3/2013 09:14

Nice sale over NAV...and share buybacks can now recommence

[woracle] 22/3/2013 11:39

HK getting toppy..A 20% fall there making it more competitively priced would likely put a cap and dampener on Macau too.

[shavian] 27/2/2013 19:49

Wish I had. I was back in tHe black at £1.22, so todays news and uplift was very welcome. Should also be good for the Apollo Multi-Asset funds which are big backers of MPO. They were predicting a serious re-rating of MPO over a year ago- a tad early, but seemingly spot on. the NAV of £1.91 gives us a discount of over 30% so still lots to go for as confidence and awareness of MPO grows.

[tyranosaurus] 27/2/2013 12:28

Interim results are out.
Looking good for the future.
Glad I topped up yesterday at 131p.

[tyranosaurus] 25/2/2013 13:38

Interim results are due late February which will include a net asset per share value at 31/12/12.
I`m looking for good news here.

[stuffee] 24/1/2013 22:43

Oregano, What I think is even more interesting is that the report states Macau's GDP per head in 2011 was US$66,000 compared to Hong Kong's US$34,000. This is forecast to continue to grow substantially, with the IMF forecasting it will eventually have the world's fourth largest GDP per head, (See Liberum report June 2012). Macau residential values are still only one third of Hong Kong's. With the limited physical space and huge new casinos and resorts opening, there has to be continuing increasing demand for residential units such as MPO's Waterside in One Central, which accounts for half its portfolio. Values could be considered as still far too low.....

[shavian] 23/1/2013 23:23

Phew...a retracement.. This was going too fast. A pause to consolidate would be healthy

[oregano] 22/1/2013 12:38

Macau once again tops the estimates from the Economist Intelligence Unit (EIU) on the world's fastest-growing economies in 2013 with a 14.3-percent growth forecast for gross domestic product.
The forecast is based on the belief that "new casino projects are resumed and Chinese visitors (with rising wages) continue to raise gambling revenues" in Macau, according to a ranking released by EIU last week.
EIU is an independent firm providing analyses on countries and industries that is part of the multimedia Economist Group.

[badtime] 22/1/2013 12:26

took a nibble..wish i had seen it earlier

[shavian] 21/1/2013 21:22

Thanks guys, nice to know I'm not billy no-mates here any more. I didn't know about the wind-up resolution either.

[tyranosaurus] 21/1/2013 21:00

The posters are slowly emerging from their hibernation as the price rises.
I think they have good prospects post Nov 2014.

[sammu] 21/1/2013 17:51

I have been buying on the dips and I'm happy to see this perk up. There recent sizable buybacks are welcome.
I had forgotten about the Nov. 2014 wind up vote. Yes this should help focus the mind.