LONDON (Alliance News) - Pacific Alliance China Land Ltd Friday its net asset value decreased in the first-half on the back of falling China property stock prices and weaker stock market sentiment in the period.
Pacific Alliance said its net asset value at June 30 was USD295.6 million, down 8% from the USD319.6 million reported at the end of December 2013 and down 2.1% against the USD304 million reported at the end of June 2013.
The decrease in the net asset value was down to the unrealised marked-to-market decline in the asset valuation of its Project Auspice and Project Malls assets. They were pushed down due to falling valuations of China property stocks and weaker stock market sentiment in the first half.
Pacific Alliance China Land shares were untraded on Friday, quoted at 1.745 US cents.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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