Major interest in Shares

RNS Number : 4084U

Aseana Properties Limited

24 June 2009

 



Date:                           24 June 2009

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

Immediate Release

Aseana Properties Limited

Major interest in Shares

Aseana Properties Limited, a leading Asian property developer, has recently received notification of a change in the number of ordinary shares and percentage voting rights in the Company held by Ospraie Management, LLC ('Ospraie'), as investment manager on behalf of discretionary clients. The changes, details of which are set out below, are as a result of a disposal of shares.

Entity	Previous		New
	Holding	Voting (as % of issued share capital)	Holding	Voting (as % of issued share capital)
Ospraie	26,434,391	12.44%	21,434,391	10.09%

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

-Ends-

Further information, please contact:

Enquiries:

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:

o        An increasing standard of living and urbanisation driven by a burgeoning young and middle class population

o        Clear Government role in encouraging participation of private sectors in real estate development, as well as encouraging and promoting land and property ownership

o        Improving availability of mortgages to encourage property ownership

o        Favoured Foreign Direct Investment (FDI) destinations driving demand for commercial and industrial properties

 

 

END

 

 

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