THE M3: MELCO OPTIONS; SJM; BELLE; HENGUIN OCEAN RESORT; PACKER

The Macau Metro Monitor, November 30th, 2010

 

MELCO INTERNATIONAL GIVES LAWRENCE HO SHARE OPTIONS DUE TO "FINANCIAL SACRIFICE" macaubusiness.com

Melco International Development Limited’s board has granted 51,600,000 share options to the directors of the company; in particuarl, Chairman and CEO Lawrence Ho, the largest shareholder, is granted 38,000,000 share options.  The company stated that Mr. Ho has given financial support and sacrifice for Melco through his waiver of interest on the HK$1.18BN convertible loan notes, his loan of HK$250MM on an unsecured basis, and his decision to accept no salary from Nov 2008 until the company generates profits continuously for at least two years.

 

SJM ADVANCES ON INCLUSION IN MSCI HONG KONG INDEX Bloomberg

SJM gained 10.5% yesterday, the biggest gain since Nov 18.  SJM will be added to the MSCI Hong Kong Index tomorrow.

 

BELLE EYES MACAU PARTNER FOR MANILA BAY PROJECT macaubusiness.com

Belle Corp. is in discussions to team up with a Macau gaming firm for its Manila Bay Project.  Alfredo Benitez, majority owner of Leisure & Resorts World Corp. (LRWC), said he expects to conclude a deal before the end of the year.  LRWC is the local partner for the gaming component of Belle’s IR project.

 

HENGUIN OCEAN RESORT TO OPEN IN 2013 Xinhua News

The RMB 10BN Chime-Long International Ocean Resort will open in 2013 on Henguin Island, which sits directly across from Cotai.  The "Ocean Kingdom" project will be completed in two phases.  The first phase mainly involves the facilities in Fuxiang Bay. The “Ocean Kingdom” will have eight theme zones, each of them consisting of the three main components of amusement designs, performances and animal watching. The dolphin‐themed hotel after completion is set to become the largest ecological‐themed hotel in mainland China.  Angela Leong On Kei announced earlier this year that The Macau Theme Park and Resort Ltd will build a MOP 10.4BN theme park on Cotai.

 

PACKER'S HIGH-ROLLER WARNING Business Spectator

James Packer is concerned that the two S'pore IRs are hurting Crown's VIP business which fell 10% in turnover volume from July to November.