SJM chairman spends US$3.45m on purchase of company stocks

SJM Holdings recently reported a net loss of US$ 188.5m for H1.
SJM Holdings recently reported a net loss of US$ 188.5m for H1.

Daisy Ho Chiu Fung has made five purchases of SJM Holdings stock for nearly HKD26.9m (US$3.45m), increasing her position in the company to 0.13 per cent.

Macau.- Between August 11 and August 17, Daisy Ho Chiu Fung, SJM chairman and executive director, spent HKD26.9m (US$3.45m) on buying company stocks.

The latest transaction was on August 17 when Ho Chiu Fung spent nearly HKD6.37m on 1m shares at an average price per share of HKD6.3715.

SJM Holdings’ share price is currently at its lowest level in the past 18 months, with a value stock of HKD6.120 per share. However, last year the value reached a low of HKD5.900 when the Covid-19 pandemic affected Macau’s tourism sector.

Due to a series of travel restrictions imposed by the Macau government and the Chinese mainland authorities, the number of arrivals and tourism businesses in Macau dropped sharply.

SJM Holdings revenue up 19 per cent for H1

SJM Holdings has reported that revenue in the first six months of the year was up 19 per cent year-on-year to HKD5.22bn. Adjusted EBITDA came in at HKD510m in the second quarter with a negative margin of 9.8 per cent, compared with a negative 22.5 per cent in 2020. Net losses reached HKD1.47bn (US$ 188.5m).

The company said that despite the Covid-19 pandemic, “certain results showed improvement in comparison with the first half of 2020.”

Net gaming revenue was up 18.8 per cent year-on-year to HKD5.08bn while mass-market table GGR was up 33.2 per cent to HKD4.39bn. VIP gross revenue for the first half stood at HKD855.6m, down 37.5 per cent, while revenue from slot machines was up 12.7 per cent year-on-year to HKD264.6m.

SJM opened one of the Grand Lisboa Palace‘s hotel towers last week after a long delay. Daisy Ho Chiu Fung said the venue received approval for 150 gaming tables and that the second phase launch will depend on the pandemic and travel restrictions. 

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