ANNOUNCEMENT |
3 March 2017 MPO Announces 2017 Interim Results |
Macau Property Opportunities Fund Limited announces its results for the period ended 31 December 2016. The Company, which is managed by Sniper Capital Limited, develops and invests in property opportunities in Macau. Financial Highlights Fund performance
*Based on a US Dollar/Sterling exchange rate of 1.234 as at 31 December 2016. Capital management Portfolio Overview - Occupancy rebounded to 49% on the back of 19 new leases secured during the reporting period. As at the period end, the average monthly rent was US$2.32 (HK$17.96) per square foot. |
Chris Russell, Chairman of Macau Property Opportunities Fund Limited, said, "We believe a recovery in the property market is likely over the next two years - gradually moving from the low to the high-end segment, in which our residential assets are concentrated. "While we are mindful of the uncertainties and risks posed by recent changes in the US administration and interest rate hike policies, as well as any further measures enacted by China's central government to curb capital outflows, the improving market sentiment should create a favourable environment for MPO to divest its assets, and ultimately, return value to shareholders," concluded Chris Russell. For more information, please visit www.mpofund.com for the Company's full Interim Report. The Manager will be available to speak to analysts and the media. If you would like to arrange a call, please contact Kelsey Traynor at MHP Communications on +44 (0) 20 3128 8100 or Kelsey.Traynor@mhpc.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. Premium listed on the London Stock Exchange, 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$405 million as at 31 December 2016. The Company is managed by Sniper Capital, an Asia-based property investment manager with an established track record in fund management and investment advisory. Stock Codes: Bloomberg: MPO LN Reuters: MPO.L |
For further information, please contact:
Investor Relations Sniper Capital Limited Doris Boo Tel: +65 6222 1440 info@snipercapital.com www.snipercapital.com | Public Relations MHP Communications Andrew Jaques / Simon Hockridge / Kelsey Traynor Tel: +44 20 3128 8100 | 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 03 March 2017 and is solely responsible for the information contained herein.
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