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Business Times
29-04-2025
- Business
- Business Times
Will Vietnam's new financial centre go Singapore style?
[HO CHI MINH CITY] Vietnam's decade-long bid to build an international financial centre (IFC) is nearing a key breakthrough, with its Parliament expected to approve special regulatory mechanisms in May. This has intensified investor interest in real estate tied to projects in Ho Chi Minh City and Da Nang – the two locations that have been identified for the country's new international financial hub s. Authorities in the two cities have earmarked vacant land parcels to woo billion-dollar projects and sought expert advice to lobby for favourable policies in order to draw global capital. Observers say that Singapore, as the region's financial hub, is naturally seen as a key source of expertise and inspiration for various players participating in Vietnam's ambitions. Over the last 10 years, foreign investors have proposed to Vietnamese authorities to have developments similar to those in Singapore, such as Marina Bay Sands (MBS) integrated resort and the Le Freeport asset storage facility. A consortium of American investors has partnered with Vietnamese tycoon Johnathan Hanh Nguyen – who is chairman of luxury retail conglomerate Imex Pan Pacific Group – to propose the development of an integrated resort similar to MBS. A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up The proposal has been backed by prominent figures including former Las Vegas Sands (LVS) president William Weidner, casino architect Paul Steelman and Cantor Fitzgerald chairman Howard Lutnick. Lutnick is the current secretary of commerce in US President Donald Trump's administration. Their initial plan was to site the IFC at the Thu Thiem urban area in Ho Chi Minh City, and this was later expanded to Da Nang's Son Tra district. They aimed to develop a mega integrated project that would include an office tower, a shopping district, resort complex and casino. The concept mirrors the Marina Bay Financial Centre in Singapore, which is about 500 m away from MBS. MBS, owned by LVS, is an iconic Singapore landmark. Situated in the heart of Singapore's Marina Bay district, the property has three hotel towers with a luxury mall, convention centre and Michelin-starred restaurants. In August 2024, Nguyen told a conference that US investors had committed in 2021 to attracting US$10 billion to establish the financial centres in Da Nang and Ho Chi Minh City. 'I believe investors still want more open and breakthrough mechanisms,' he said. 'They need commitments from the Vietnamese government and a clear national strategy to ensure this plan is sustainable and promising.' No 'sure wins' for investors Govinda Singh, executive director at Colliers International, noted that IFCs often follow a similar development pattern, featuring Grade A office spaces complemented by amenities such as restaurants and, in some cases, hotels. 'There are no sure wins (for early investors). The question is, will there be a strong demand and presence of multinationals together with larger local conglomerates that will take up the space quickly? If not, vacant IFCs are a risk and will work against their attractiveness,' he said. He noted that the growing interest in incorporating commercial and hospitality developments in these hubs is driven by uncertainty surrounding the viability of a standalone IFC focused solely on office space. 'Adding an integrated resort could make the proposition more compelling, especially if locals are allowed entry, but Vietnam still lacks the presence of multinational corporations and regional headquarters that underpin Singapore's success,' he said. Eyes on Da Nang Some investors from Singapore, meanwhile, are said to be actively exploring opportunities in the planned IFC in Da Nang, a popular tourist spot in Vietnam known for its picturesque beaches. Da Nang has designated six land parcels for the development of the city's IFC: a 9.7-hectare site overlooking the estuary of Da Nang's iconic Han River (pictured), and five other lots covering 6.17 hectares along a street that connects the city centre to My Khe Beach. PHOTO: JAMILLE TRAN, BT A proposal by Terne Holdings, a sustainable real estate advisory and investment group headquartered in Singapore, suggested the establishment of a Singapore-like Le Freeport – a facility intended for the super-rich to store their assets in Da Nang. 'As a differentiator, by introducing Le Freeport for secure storage of gold bullion, art and collectibles, Da Nang can attract high-net-worth individuals and banks looking for asset-backed financing,' said Andy Khoo, managing director of Terne Holdings, at a conference in Da Nang earlier this year. Last November, the group finalised its investment in The One Destination, a local developer specialising in environmental, social and governance real estate in Vietnam, with the first venture being a US$68 million complex in Vietnam's highland city of Da Lat. Khoo said the potential of Da Nang lies in its cost-competitiveness and strategic geographic location. The city is home to the Tien Sa and Lien Chieu seaports, which are situated near the trade routes of the Regional Comprehensive Economic Partnership and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. '(No region) has higher potential in Vietnam than Da Nang to position itself as a trade finance hub with the emergence of the two ports, a decentralised free trade zone planned in nine locations, and now an IFC,' he told The Business Times. Terne Holdings signed a memorandum of understanding with the Da Nang People's Committee in January to provide assistance for the planning of the city's IFC, especially in terms of talent development in the financial sector. Makara Capital Partners, a global financial services firm that jointly launched a S$1 billion fund with the Intellectual Property Office of Singapore, also pledged to provide 'significant resources', including sending top experts to help Da Nang realise its IFC dream. Neither provided details of their proposals, but they suggested that Da Nang needs to plan, invest and build not just physical infrastructure but also a legal framework to facilitate the influx of international companies and capital. 'Da Nang has the space, the scale, the people Singapore doesn't have,' Khoo said, 'because of that, it can attract new monies, new industry players. That's why it can differentiate itself from Singapore.'
Forbes
15-04-2025
- Business
- Forbes
Will Q1 Results Move Las Vegas Sands Stock Up?
CANADA - 2025/03/18: In this photo illustration, the Las Vegas Sands logo is seen displayed on a ... More smartphone screen. (Photo Illustration by Thomas Fuller/SOPA Images/LightRocket via Getty Images) Las Vegas Sands stock (NYSE: LVS), a casino and resort company with operations in Macau and Singapore, is scheduled to announce its fiscal first-quarter earnings on Wednesday, April 16, 2025. Analysts expect earnings of $0.57 per share on revenue of $2.93 billion. This represents a 14% drop in earnings and a 1% decline in revenue compared to the prior year's figures of $0.66 per share and $2.96 billion. Investors will be watching closely, especially given the backdrop of ongoing macroeconomic pressures and concerns related to tariffs. Historically, the stock has gained in 60% of instances on the day following earnings announcements, with a median gain of 4.6% and a maximum one-day return of 12%. The company currently has a market capitalization of $23 billion. Over the past twelve months, it generated $11 billion in revenue, $2.5 billion in operating profit, and $1.4 billion in net income. While the reaction will largely depend on how results compare with consensus expectations, understanding historical trends can help improve your odds if you're an event-driven trader. There are two key approaches: review historical performance and position yourself ahead of the announcement, or examine correlations between short- and medium-term post-earnings returns to guide your moves after earnings are released. For investors seeking more stable returns with less volatility than individual stocks, the Trefis High-Quality portfolio may be a viable option, having outpaced the S&P 500 with gains of over 91% since inception. See earnings reaction history of all stocks. Here are some insights on one-day (1D) post-earnings performance: Additional post-earnings return data for 5-Day (5D) and 21-Day (21D) periods is included in the summary table below. LVS observed 1D, 5D, and 21D returns post earnings An approach with potentially lower risk (if correlations are strong) is to analyze the relationship between short-term and medium-term post-earnings returns. Identify which pair exhibits the highest correlation and align your trading strategy accordingly. For instance, if the strongest correlation exists between 1D and 5D returns, a positive 1D result may justify a long position for the following 5 days. Below is correlation data using both 5-year and more recent 3-year history. '1D_5D' refers to the correlation between one-day and subsequent 5-day returns. LVS Correlation Between 1D, 5D and 21D Historical Returns Learn more about the Trefis RV strategy, which has outperformed its all-cap benchmark (a combination of the S&P 500, S&P MidCap, and Russell 2000), delivering strong results for investors. Invest with Trefis Market Beating Portfolios | Rules-Based Wealth
Yahoo
05-04-2025
- Business
- Yahoo
Las Vegas Sands (NYSE:LVS) Faces 13% Weekly Price Drop As CEO Transition Looms
Las Vegas Sands saw its share price decline 13% over the past week amid significant leadership transitions, including the appointment of Muktesh Micky Pant to the board and impending changes in the CEO role. While these corporate dynamics unfolded, broader market turmoil from escalating global trade tensions exacerbated the decline. The Dow, S&P, and Nasdaq all experienced steep losses, with drops of 8%, 9%, and 10% respectively, as tariffs unsettled investor sentiment. The concurrent market and company-specific events likely influenced the sharp decline in LVS's share price during this turbulent period. Las Vegas Sands has 2 weaknesses we think you should know about. This technology could replace computers: discover the 21 stocks are working to make quantum computing a reality. Over the past three years, Las Vegas Sands has experienced a total return decline of 4.27%, indicating challenges despite industry potential. Notably, this return underperformed the US market and the hospitality industry over the past year. Several factors may have influenced this performance. First, the completion of The Londoner in 2025 is anticipated to improve competitive standing in Macao. However, operational challenges prior to full capacity utilization may have weighed on margins. Additionally, the consistent reliance on the Chinese economy introduces some risk, especially given fluctuating market conditions and the potential impact on revenue growth. The company continued its capital returns focus, with active buyback initiatives and dividend announcements. A US$449.96 million repurchase of shares between October and December 2024 highlights this commitment. Despite robust earnings growth, as seen in the fourth quarter of 2024, these measures did not offset market concerns fully. Moreover, executive changes, including appointments like Muktesh Micky Pant and internal shifts with Robert G. Goldstein, might have impacted investor confidence, contributing to the share price performance. Review our historical performance report to gain insights into Las Vegas Sands' track record. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NYSE:LVS. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Sign in to access your portfolio
Yahoo
03-04-2025
- Business
- Yahoo
Here's What Led LVS Advisory to Sell its Position in Howard Hughes Corp (HHH)
LVS Advisory, a New York City-based full-service investment firm, recently released its first-quarter 2025 investor letter. A copy of the letter can be downloaded here. In the first quarter of 2025, the LVS Event-Driven portfolio returned 0.8% (net of fees) and the LVS Growth Portfolio delivered 0.3%, net of all fees and expenses. This compared to 0.9% return for the high-yield bond index and 4.3% decline for the S&P 500 index. For more information on the fund's top picks in 2025, please check its top five holdings. In its first quarter 2025 investor letter, LVS Advisory emphasized stocks such as Howard Hughes Holdings Inc. (NYSE:HHH). Headquartered in The Woodlands, Texas, Howard Hughes Holdings Inc. (NYSE:HHH) develops and manages commercial, residential, and mixed-use real estate. The one-month return of Howard Hughes Holdings Inc. (NYSE:HHH) was -0.05%, and its shares gained 16.51% of their value over the last 52 weeks. On April 2, 2025, Howard Hughes Holdings Inc. (NYSE:HHH) stock closed at $74.81 per share with a market capitalization of $3.771 billion. LVS Advisory stated the following regarding Howard Hughes Holdings Inc. (NYSE:HHH) in its Q1 2025 investor letter: Howard Hughes Corp (NYSE:HHH) is a real estate holding company that owns several master planned communities ('MPCs') across the United States. Master planned communities are large-scale residential developments designed to integrate commercial spaces (stores, offices) and recreational facilities (parks, golf courses). In other words, MPCs are mini-cities within cities that cater to upper-middle class families. The flagship MPC in Howard Hughes's portfolio is The Woodlands located in Houston, Texas. An aerial view of a master-planned community with its wide streets and amenities. Howard Hughes Holdings Inc. (NYSE:HHH) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 39 hedge fund portfolios held Howard Hughes Holdings Inc. (NYSE:HHH) at the end of the fourth quarter which was 39 in the previous quarter. While we acknowledge the potential of Howard Hughes Holdings Inc. (NYSE:HHH) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. We covered Howard Hughes Holdings Inc. (NYSE:HHH) in another article, where we shared the list of stocks Jim Cramer recently discussed. In addition, please check out our hedge fund investor letters Q4 2024 page for more investor letters from hedge funds and other leading investors. READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
10-02-2025
- Business
- Yahoo
Las Vegas Sands Full Year 2024 Earnings: EPS Misses Expectations
Revenue: US$11.3b (up 8.9% from FY 2023). Net income: US$1.45b (up 18% from FY 2023). Profit margin: 13% (up from 12% in FY 2023). The increase in margin was driven by higher revenue. EPS: US$1.97 (up from US$1.60 in FY 2023). All figures shown in the chart above are for the trailing 12 month (TTM) period Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 9.7%. The primary driver behind last 12 months revenue was the Marina Bay Sands segment contributing a total revenue of US$4.23b (37% of total revenue). Explore how LVS's revenue and expenses shape its earnings. Looking ahead, revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 9.7% growth forecast for the Hospitality industry in the US. Performance of the American Hospitality industry. The company's shares are down 4.3% from a week ago. Following the latest earnings results, Las Vegas Sands may be undervalued based on 6 different valuation benchmarks we assess. Click here to view our comprehensive analysis and gain insights into the stock's investment prospects. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
