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(Alliance News) - Macau Property Opportunities Fund Ltd on Thursday said its performance was stable in 2020 despite coronavirus outbreak.
The investment company said Macau continues to record very low Covid-19 figures with 48 recorded cases and no deaths. More positively, the company said visitor numbers are increasing, generating improvements in the economy and gaming revenue albeit from low levels on an historic basis.
The fund said its portfolio value was USD267.5 million as at the end of 2020, which was broadly unchanged over the six-month period.
Net asset value was USD100.3 million as of 2020 end, equating to USD1.62 per share, a decrease of 0.3%.
"The company's financial performance during the first half of the current financial year reflects stable property valuations following earlier declines, with sales prices exceeding current market valuations," said Chair Mark Huntley.
"This year and the timing of any positive impact on the luxury property market remains hard to predict, with patience at a premium," added Huntley.
Macau Property Opportunities Fund shares were trading 0.2% lower in London on Thursday at 67.84 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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