VinaLand Interim Net Asset Value Drastically Reduces, Prepares Wind-up

LONDON (Alliance News) - VinaLand Ltd on Wednesday reported a plunge in its interim net asset value, as it completed its last four divestment.

For the six months to the end of 2018, the investment vehicle established to target Vietnam's real estate market, posted a drop in net asset value per share down to USD0.0036 from USD0.286 at the end of June.

Net asset value reduced significantly to USD500,000 from USD46.9 million at the end of June due to operating and liquidating costs.

During the half, the company completed its last four divestments, generating a total net proceeds of USD39.3 million.

The firm has now entered a period of 12 months to begin an orderly wind up of the fund and cancellation of its shares from trading on AIM.

VinaLand shares were untraded at USD0.0090 each.