Following the outcome of the 2016 AGM and EGM, the Investment Manager is continuing with the orderly realisation of the Company’s investment portfolio enabling further distributions to shareholders. Vietnam’s economic conditions continued to support and create more demand in real estate market, including VNL’s portfolio. The combination of stable market enables the Investment Manager to continue to focus on ongoing disposals and other divestment opportunities at optimal valuations and to complete distributions to shareholders.
Latest commentary from our fund manager
As at 30 September 2018, VinaLand Limited (the “Company” or “VNL”) posted an unaudited net asset value (NAV) of USD41.2 million or USD0.28 per share, a 2.0% decrease from the previous quarter’s audited NAV per share of USD0.29. VNL’s share price increased 16.0% to USD0.29, from the closing price of USD0.25 reported on 30 June 2018. As a result, the Company’s share price to NAV premium is currently 3.6%. VNL repurchased and cancelled 16.45 million ordinary shares in the third quarter of 2018, bringing the total of cancelled ordinary shares since October 2011 to 353.0 million. VNL has cancelled 70.6% of the fund’s total issued shares prior to the program since the commencement of the share buyback program.