Nagacorp

Hi HW, Thank you for your enthusiasm.
You are correct. Nagacorp entire development if funded by the founder. It has no debt and that makes Nagacorp a rather safe bet. However once complete, the founder will be issued additional shares, therefore increasing the number of shares in circulation. He could wind up with more than 70% ownership of which he must disposed a portion to meet regulatory requirements.The shares issued to him at HK$1.83. So the disposal could take place below the market price. This could put short term volatility in the share price.
The NagaCity Walk and Naga2 project have been delayed for more than year but when completed could add to the company’s revenue rather significantly. Cambodia’s tourists arrival is strong, with Chinese tourists growing by more than 20% a year (Nagacorp’s website has also some Cambodian tourists information).
In Nagacorp, transactions are done in USD, so that would reduce your worries on the Cambodian currency.
Its dividend payout is rather generous. At the current price, the yield is around 6.75%. 
Meanwhile USD is going up and HK$ is pegged to the USD, so the dividend when converted into RM could be significant.
However, I foresee China could devalue the RMB vs USD, and this could cause a selloff in the HK stock market like what happen in February 2016 where it reached a low of HK$3.86.
 
So looking at the negative impact of dilution and possible sell off due to RMB devaluation, the best price to enter is less than HK$5.00 (ideally at around HK$4.50). This will give you a yield above 7%. Analysts have put long term price target of HK$6.00 – HK$6.50. Nagacorp is a good long term investment. 
Long term prospect looks good as NagaCity walk and Naga2 are expected to double the revenue. Then there is also the Vladivostok casino which will be ready sometime between 2019 – 2020 (management has said it won’t be opened in 2018).
Hope this helps.