Share Buy-Back

RNS Number : 9438Q

Aseana Properties Limited

22 April 2009

 



Date:                    22 April 2009

On behalf of:        Aseana Properties Limited ('Aseana' or 'the Company')

Embargoed for:    0700hrs

Aseana Properties Limited

Share Buy-Back

Aseana Properties Limited today announces that the Board of the Company has resolved to implement a share buy-back scheme of up to 10% of the Company's shares in issue.

-Ends-

Further information, please contact:

Enquiries:

Aseana Properties Limited	Contactable via Redleaf Communications
Redleaf Communications	Tel: [phone]
Samantha Robbins / Adam Leviton / Kathryn Hurford	Email: [e-mail]
Fairfax I.S. PLC	Tel: [phone]
James King / Gillian McCarthy

Notes to Editors

• Ireka Development Management, the Development Manager for Aseana Properties Limited, is a wholly-owned subsidiary of Ireka Corporation Berhad, a company listed on the Bursa Malaysia since 1993, which has over 40 years of experience in construction and property development.
  
• Aseana Properties Limited typically invests in development projects at pre-construction stage, with a primary focus on locations within the major cities of Malaysia and Vietnam.  
  
• 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.
  
• No one underlying single asset will account for more than 30% of the gross assets of the Company at the time of investment.
  
• The Directors believe the following factors should provide sustainable growth in the real estate sectors of both Malaysia and Vietnam:
  • 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 of mortgages to encourage property ownership
  • Favoured Foreign Direct Investment (FDI) destinations driving demand for commercial and industrial properties

 

END

 

 

POSEAXLFAEDNEFE