Modest fall in Origo's NAV
The unaudited net asset value of Origo Partners (LON:OPP) fell to US$215.4 million from US$225.1 million for the period ending June 30, 2011 due principally to the movement of fair market value of quoted investments and currency movements
Chris Rynning, Origo's CEO, said:
"The Chinese economy continues to perform in line with our expectations with strong domestic demand supported by robust public finances and as a result we remain committed to our investment strategy. During the Period we made a follow-on investment of US$10 million in China Rice, giving us increased exposure to Chinese consumer markets."
"Our investments in Mongolia continue to progress well, and recent events have shown that the Government remains committed to supporting the equitable development of the country's natural resourcesector. The creation ofKincora Copperin July is particularly exciting for Origo, enabling us to combine our stake in a very promising Mongolian copper/gold project with a very experienced management team and create a listed company that has the potential to deliver significant value."
"During Q3, we continued to build our asset management business through the successful launch of two new, innovative funds targeting Chinese cleantech companies and Mongolia respectively. We continue to develop further asset management opportunities and expect the management of third party investment vehicles to become an increasing part of our business."
At 8:58am: (LON:OPP) share price was 0p at 33.5p
Story provided by StockMarketWire.com
Chris Rynning, Origo's CEO, said:
"The Chinese economy continues to perform in line with our expectations with strong domestic demand supported by robust public finances and as a result we remain committed to our investment strategy. During the Period we made a follow-on investment of US$10 million in China Rice, giving us increased exposure to Chinese consumer markets."
"Our investments in Mongolia continue to progress well, and recent events have shown that the Government remains committed to supporting the equitable development of the country's natural resourcesector. The creation ofKincora Copperin July is particularly exciting for Origo, enabling us to combine our stake in a very promising Mongolian copper/gold project with a very experienced management team and create a listed company that has the potential to deliver significant value."
"During Q3, we continued to build our asset management business through the successful launch of two new, innovative funds targeting Chinese cleantech companies and Mongolia respectively. We continue to develop further asset management opportunities and expect the management of third party investment vehicles to become an increasing part of our business."
At 8:58am: (LON:OPP) share price was 0p at 33.5p
Story provided by StockMarketWire.com
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