ANNOUNCEMENT |
28 September 2017 MPO Announces 2017 Annual Results |
Macau Property Opportunities Fund Limited announces its results for the year ended 30 June 2017. The Company, which is managed by Sniper Capital Limited, is a closed-end investment fund and the only quoted real estate fund dedicated to investing in Macau. Financial Highlights Fund performance
* Based on the US Dollar/Sterling exchange rate of 1.303 on 30 June 2017. Capital management
Portfolio Highlights - Occupancy rose to a two-year high of 62%, boosted by 33 new leases secured during the period. As at 30 June 2017, the average monthly rent was US$2.27 per square foot, down 10.3% year-on-year. |
Chris Russell, Chairman of Macau Property Opportunities Fund, said, "Macau's prospects are looking brighter, driven by a sustained recovery in the gaming industry. Our Company is well positioned today to benefit further from what we expect to be a gradual, but ongoing, recovery in property values. "Our overriding focus is now on realising asset values. We will continue to assess all forms of potential divestment options with the goal of maximising exit values and returning cash to shareholders." For more information, please visit www.mpofund.com for the Company's full Annual Report 2017. The Manager will be available to speak to analysts and the media. If you would like to arrange a call, please contact Doris Boo of Sniper Capital Limited at +65 6222 1440 or doris.boo@snipercapital.com. |
About Macau Property Opportunities Fund |
Macau Property Opportunities Fund Limited is a closed-end investment company registered in Guernsey and is the only quoted property fund dedicated to investing in Macau, the world's largest gaming market and the only city in China where gaming is legalised. Listed on the London Stock Exchange's main market, it is also a constituent stock of the FTSE All-Share and FTSE SmallCap indices. Launched in 2006, the Company targets strategic property investment and development opportunities in Macau. Its current portfolio comprises a mix of prime residential and retail property assets that are valued at US$425.7 million as at 30 June 2017. The Company is managed by Sniper Capital Limited, an Asia-based property investment manager with an established track record in fund management and investment advisory. Stock Code: London Stock Exchange: MPO |
For further information, please contact:
Investor Relations Sniper Capital Limited Doris Boo Tel: +65 6222 1440 info@snipercapital.com www.snipercapital.com | Corporate Broker Liberum Capital Richard Bootle / Henry Freeman / Jonathan Wilkes-Green Tel: +44 20 3100 2232 | Company Secretary & Administrator Heritage International Fund Managers Mark Huntley / Laurence McNairn Tel: +44 14 8171 6000 |
Macau Property Opportunities Fund Ltd. published this content on 28 September 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 28 September 2017 07:04:13 UTC.
Original documenthttp://mpofund.com/wp-content/uploads/2017/09/Full-year-results-for-the-period-ending-30-June-2017.pdf
Public permalinkhttp://www.publicnow.com/view/99BB3CB505A28738A4B894BA76CF6359010B6CF1