PRESS RELEASE For Immediate Release |
MPOF Announces 2016 Annual Results |
21 September 2016, Macau - Macau Property Opportunities Fund Limited (MPOF) announces its results for the period ended 30 June 2016. Managed by Sniper Capital Limited, the Company develops and invests in real estate opportunities in Macau - the only city in China where casino operations are legal. MPOF Financial Highlights Fund Performance
* US Dollar/Sterling exchange rate of 1.326 as at 30 June 2016. Capital Management MPOF Portfolio Highlights - Occupancy level remained stable at 44%, unchanged from a year earlier, but the average rental rate achieved as at 30 June 2016 declined by 16% year-on-year to HK$19.72 (US$2.53) per square foot per month. - more - |
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Chris Russell, Chairman of Macau Property Opportunities Fund said, "Notwithstanding the difficult operating environment, we have continued to focus on strengthening the position of our properties as distinct, desirable developments to attract buyers and quality tenants." "A recovery in property market values, albeit a gradual and cautious one, may now be in sight. Transaction volume for lower-value properties has recovered, with some improvement in prices. The pace of Macau's economic slowdown is easing and the gaming industry, the driver of the city's economy, has been showing signs of stabilising. "We are optimistic that Macau will come through its current economic difficulties, given its strong underlying fundamentals," added Chris Russell. To download a copy of the Macau Property Opportunities Fund's 2016 Annual Report, please visit www.mpofund.com. - end - |
About Macau Property Opportunities Fund |
Macau Property Opportunities Fund Limited is a closed-end investment fund registered in Guernsey. 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 Fund targets strategic property investment and development opportunities in Macau. Its current portfolio comprises a mix of well-positioned residential and retail property assets. The Fund is managed by Sniper Capital Limited, an Asia-based property investment manager with a proven 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 Email: info@snipercapital.com | Public Relations MHP Communications Andrew Jaques / Simon Hockridge / Kelsey Traynor Tel: +44 20 3128 8100 Email: kelsey.traynor@mhpc.com |
Macau Property Opportunities Fund Ltd. published this content on 21 September 2016 and is solely responsible for the information contained herein.
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