Quarterly Investor Update

RNS Number : 5055X

Aseana Properties Limited

16 February 2012

 



16 February 2012

Aseana Properties Limited

("Aseana" or "the Company")

Quarterly Investor Update

Aseana Properties Limited (LSE: ASPL), a property developer investing in Malaysia and Vietnam, listed on the Main Market of the London Stock Exchange, has issued its Quarterly Investor Update for the three month period to 31 December 2011. The full update can be obtained on Aseana's website at: http://www.aseanaproperties.com/quarterly.htm 

Highlights

·      Two of Aseana's residential development projects in Ho Chi Minh City, Vietnam, Phuoc Long B Project and Tan Thuan Dong Project received Investment Licenses in November and December 2011 respectively

·      On 28 December 2011, Aseana announced its intention to implement a limited share buy-back programme of up to 500,000 Ordinary Shares

·      Between 4 and 24 January 2012, Aseana purchased 500,000 Ordinary Shares at an average price of 34.93 cents. The repurchased shares are currently held as treasury shares

Property Portfolio Update

Sales Update
January 2012
Projects	% Sold*
Tiffani by i-ZEN	96%
Sandakan Harbour Square
- Phase 1 (61 retail lots)	100%
- Phase 2 (68 retail lots)	99%
SENI Mont' Kiara	71%
KL Sentral Office Towers & Hotel
- Office Tower 1	100%
- Office Tower 2	100%
- Hotel	100%

* Based on sales & purchase agreements signed.

During the quarter under review, sales of luxury condominium units at Tiffani by i-ZEN and retail lots at Sandakan Harbour Square Phase 2 had advanced to 96% and 99% respectively, compared to 96% and 95% in Q3 2011. To date, 71% of SENI Mont' Kiara units have been sold with a further 8% of its units reserved and deposits received, as compared to 70% sold in Q3 2011.

Both Aseana's residential development projects in Ho Chi Minh City, Vietnam, Phuoc Long B Project and Tan Thuan Dong Project received Investment Licenses in November and December 2011 respectively, with the timing of the Tan Thuan Dong Project ahead of our previous estimation. Commencement of construction on the Phuoc Long B Project and Tan Thuan Dong Project are expected in Q2 2012 and Q4 2012 respectively.

For further information:

Aseana Properties Limited	Tel: [phone]
Tan May Lee	Email: [e-mail]
Panmure Gordon (UK) Limited	Tel: [phone]
Richard Gray / Andrew Potts / Brett Jacobs	Email: [e-mail]
Tavistock Communications	Tel: [phone]
Jeremy Carey / James Verstringhe	Email: [e-mail]

Notes to Editors:

London-listed Aseana Properties Limited (LSE: ASPL) 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.

 

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