LONDON (Alliance News) - Macau Property Opportunities Fund Ltd on Friday said its property portfolio valuation fell in the first half of its financial year following a weakening in the Chinese property market.
Macau Property said its portfolio valuation fell to USD547.6 million in the six months to December 31, down 2.1%, owing to a softer Chinese property market resulting from the anti-graft campaign by the Chinese government.
The group adjusted net asset value per share fell to USD4.71, or 302 pence, down 3.6%.
"Considering the near-term challenges currently being faced by Macau, your company has delivered a resilient performance for the period," said Macau Chairman David Hinde.
"I have every confidence that MPO, with its prime portfolio of assets, will successfully weather this healthy period of consolidation," Hinde added.
Macau Property shares were up 0.2% to 220.292 pence on Friday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Macau Property (MPO)