13th May 2014 11:19
LONDON (Alliance News) - Macau Property Opportunities Fund Ltd Tuesday said its net asset value at the end of March rose to USD268.9 million from USD250.0 million at December 31, driven by continued buoyancy in Macau's property market.
The company, which develops and invests in property in Macau and China's Pearl River Delta, said its adjusted net asset value per share rose to USD5.25 at March 31 compared with USD4.95 at December 31.
During the three months to March 31, the company said its sold its APAC Logistics Centre and Cove Residence for USD64.7 million, generating a net profit of USD29 million.
Macau Property Opportunities said based on its latest portfolio value and assuming a full drawdown of its committed loan facilities, its loan-to value ratio stood at 21.4% at the period-end compared with 21.7% at December 31.
Macau Property Opportunties shares were quoted up 3.4% at 238.78 pence Tuesday.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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