Annual Report

RNS Number : 8208Q

Aseana Properties Limited

21 April 2009

 

Date:                    21 April 2009

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

Embargoed for:    0700hrs

Aseana Properties Limited

• Annual Report

The Board of Aseana Properties Limited (LSE: ASPL), an Asian property developer on the Official List of the London Stock Exchange, is pleased to announce that it's Annual Report for 2008 is now available.  

Electronic copies of the report can be obtained on its website at the following link: http://www.aseanaproperties.com/annual_reports.htm

Enquiries:

Aseana Properties Limited	Contactable via Redleaf Communications
Redleaf Communications	Tel:  [phone]
Adam Leviton / Samantha Robbins / 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.  

• Investments are 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

 

 

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