Vietnam real estate market investment vehicle VinaLand posts a net loss of $201.6m for the year to June compared with a profit of $248.2m last time.
The firm said the result was due to writedowns which reflected market conditions.
Its net asset value stoo at $660m - down from $804m in 2008 - and it had cash and cash equivalents of $50.3m.
Director Don Lam said: "Despite the continuation of tough conditions over the past year, VNL has maintained its position as the leading foreign investor in Vietnam's burgeoning real estate sector.
"I am pleased with the company's progress over the period - particularly as regards to our residential projects, in which we have witnessed strong demand and rising prices.
"We will continue to pursue our strategy of focusing on the most profitable urban districts whilst maximising returns through divestment from selected projects."
Story provided by Business Financial Newswire
