Director/PDMR Shareholding

RNS Number : 0995W

Aseana Properties Limited

12 November 2010

 



12 November 2010

Aseana Properties Limited

("Aseana" or "the Company")

Director Shareholding

The Company has received notification that Gerald Ong Chong Keng, Non-Executive Director of Aseana Properties Limited, acquired 570,000 ordinary shares in the Company ("Ordinary Shares") on 12 November 2010 at a price of USD 0.50 per share.

Following this acquisition, Gerald Ong Chong Keng holds a beneficial interest in 570,000 Ordinary Shares, representing approximately 0.27% of the issued share capital of the Company (being 212,525,000 Ordinary Shares).

Aseana is listed on the Main Market of the London Stock Exchange.

-Ends-

For further information:

Aseana Properties Limited	Tel: [phone]
Leonard Yee	Email: [e-mail]
Tavistock Communications	Tel: [phone]
Jeremy Carey / James Verstinghe	Email: [e-mail]

Notes to Editors:

London-listed Aseana Properties Limited (LSE: ASPL) ("Aseana" or "the Company"), is a property developer investing in Malaysia and Vietnam.

Aseana typically invests in development projects at pre-construction stage.  Investment is made in projects where it is believed there will be a minimum 30% annualised return on equity ("ROE") on investments in Vietnam and a minimum 20% ROE on investments in Malaysia.

Ireka Development Management Sdn Bhd ("IDM") is the exclusive Development Manager for Aseana. It is a wholly-owned subsidiary of Ireka Corporation Berhad, a company listed on the Bursa Malaysia since 1993, which has over 40 years experience in construction and property development. IDM is responsible for the day-to-day management of Aseana's property portfolio and the introduction and facilitation of new investment opportunities.

Fundamentals of Malaysia and Vietnam remain strong for future growth, especially with indications pointing to strong growth in emerging markets this year. In particular, the real estate sectors are likely to flourish due to:

•	An increasing standard of living and urbanisation driven by a burgeoning young and middle-class population
•	Clear government role in encouraging participation of private sectors in real estate development, as well as encouraging and promoting land and property ownership
•	Improving availability or mortgages to encourage property ownership
•	Favoured Foreign Direct Investment destinations driving demand for commercial and industrial properties

 

END

 

 

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