THE M3: NEPTUNE EXPANDS; CPI; S'PORE VISITATION; S'PORE GDP; VIETNAM; INDIA

THE MACAU METRO MONITOR, NOVEMBER 21, 2013

 

 

NEPTUNE MAY BUY SLICE OF JUNKET OPERATOR'S TAKINGS Macau Business

Neptune Group Ltd has agreed to buy all of Macau VIP gaming room operator Ocean Star’s profits from its junket arrangement.  Neptune Group, Ocean Star and So Wai-chi have signed a memorandum of understanding to this effect.  They have until the end of this year to negotiate the deal.  Ocean Star runs at least 11 VIP tables in the City of Dreams, which have average monthly rolling chip turnover of HK$6.43 billion (US$ 830 million).

 

MACAU CPI DSEC

October 2013 CPI increased by 6.18% YoY and 0.15% MoM.

 

MORE VISITOR ARRIVALS TO SINGAPORE IN Q1 2013, BUT TOURISM SPENDING DROPS Strait Times

According to the Singapore Tourism Board's (STB) quarterly report, there were 3.9 million tourists in 1Q 2013, +9% YoY.  But overall tourism spending dropped by 6% to $5.7billion.  The report showed that visitors spent less on accommodation, shopping, and sightseeing and entertainment.  They spent the same amount on food and beverage.  The decline in spending was driven mainly by a 6% drop in the number of business travellers. 

 

SINGAPORE RAISES 2013 GDP GROWTH FORECAST ON MANUFACTURING Bloomberg, Channel News Asia 

Singapore trade ministry bumped up its 2013 GDP forecast to 3.5-4.0% from 2.5-3.5% earlier.  GDP may expand 2%-4% in 2014.  3Q GDP grew an annualized 1.3%, beating estimates of -0.3%. 

 

SINGAPORE CHANGI AIRPORT TRAFFIC Changi Airport Group

October passenger movement grew 3.2% YoY to 4.4 million.

 

THE M3: NEPTUNE EXPANDS; CPI; S'PORE VISITATION; S'PORE GDP; VIETNAM; INDIA - ca


DONACO SEEKS EQUITY TO FUND VIETNAM EXPANSION WSJ

Donaco International Ltd., led by two nephews of Genting Bhd.’s chairman K.T. Lim, is seeking up to 25.8 million Australian dollars (US$24.2 million) to fund the expansion of its five-star hotel and casino in Vietnam.  The company said last week that Vietnam’s Ministry of Planning and Investment had provided conditional grants which allow the business to operate a maximum of 50 gaming tables.  Its existing 30-year gaming license will be reset in 2014, and run through 2044.

 

INDIA'S LARGEST CASINO RESORT TO OPEN IN DAMAN NEXT YEAR Indiawest

India’s largest integrated casino resort, spread over 10 acres with 60,000 square feet gaming space in Daman, is likely to open early next year, according to Delta Corp. Limited Chairman Jaydev Modi.  The 187-room property will open up new markets for Delta Corp. since it is near Mumbai and within convenient distance from the key cities in Gujarat. This would be the first land-based casino in Daman. The company has three offshore casino vessels in Goa.


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This is a brief note written by Hedgeye U.S. Macro analyst Christian Drake on 4/28 dispelling media reporting that “US GDP collapses to 0.7%, the lowest number in three years with the worst personal spending since 2009.”

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7 Tweets Summing Up What You Need to Know About Today's GDP Report

"There's a tremendous opportunity to educate people in our profession on how GDP is stated and projected," Hedgeye CEO Keith McCullough wrote today. Here's everything you need to know about today's GDP report.

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Cartoon of the Day: Crash Test Bear

In the past six months, U.S. stock indices are up between +12% and +18%.

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GOLD: A Deep Dive on What’s Next with a Top Commodities Strategist

“If you saved in gold over the past 20 to 25 years rather than any currency anywhere in the world, gold has outperformed all these currencies,” says Stefan Wieler, Vice President of Goldmoney in this edition of Real Conversations.

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Exact Sciences Up +24% This Week... What's Next? | $EXAS

We remain long Exact Sciences in the Hedgeye Healthcare Position Monitor.

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Inside the Atlanta Fed's Flawed GDP Tracker

"The Atlanta Fed’s GDPNowcast model, while useful at amalgamating investor consensus on one singular GDP estimate for any given quarter, is certainly not the end-all-be-all of forecasting U.S. GDP," writes Hedgeye Senior Macro analyst Darius Dale.

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Cartoon of the Day: Acrophobia

"Most people who are making a ton of money right now are focused on growth companies seeing accelerations," Hedgeye CEO Keith McCullough wrote in today's Early Look. "That’s what happens in Quad 1."

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People's Bank of China Spins China’s Bad-Loan Data

PBoC Deputy Governor Yi says China's non-performing loan problem has “pretty much stabilized." "Yi is spinning. China’s bad-debt problem remains serious," write Benn Steil and Emma Smith, Council on Foreign Relations.

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UnderArmour: 'I Am Much More Bearish Than I Was 3 Hours Ago'

“The consumer has a short memory.” Yes, Plank actually said this," writes Hedgeye Retail analyst Brian McGough. "Last time I heard such arrogance was Ron Johnson."

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Buffalo Wild Wings: Complacency & Lack of Leadership (by Howard Penney)

"Buffalo Wild Wings has been plagued by complacency and a continued lack of adequate leadership," writes Hedgeye Restaurants analyst Howard Penney.

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Todd Jordan on Las Vegas Sands Earnings

"The quarter actually beat lowered expectations. Overall, the mass segment performed well although base mass lagging is a concern," writes Hedgeye Gaming, Lodging & Leisure analyst Todd Jordan on Las Vegas Sands.

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An Update on Defense Spending by Lt. Gen Emo Gardner

"Congress' FY17 omnibus appropriation will fully fund the Pentagon's original budget request plus $15B of its $30B supplemental request," writes Hedgeye Potomac Defense Policy analyst Lt. Gen Emerson "Emo" Gardner USMC Ret.

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