Notice of Results and Quarter

RNS Number : 1888Q

Aseana Properties Limited

30 July 2010

 



30 July 2010

Aseana Properties Limited

("the Company")

Notice of Results and Quarterly Investor Update

Aseana Properties Limited (LSE: ASPL), a property developer in Malaysia and Vietnam listed on the official list of the London Stock Exchange, will announce its Half Year Results for the six months ended 30 June 2010 on Tuesday 31 August 2010. The Company has also published its Quarterly Investor Update for the period to 30 June 2010, which can be obtained on its website at: http://www.aseanaproperties.com/quarterly.htm.

Highlights from the Quarterly Investor Update include the following:

·      Acquisition of a four-star business hotel in Kuala Lumpur Sentral, from Excellent Bonanza Sdn. Bhd. at a consideration of RM217 million (approx. US$66 million)

·      Sale of 1 Mont' Kiara office tower and retail mall to ADF Dragon Limited for RM333 million (approx. US$104 million)

Aseana Properties Ltd	Tel: [phone]
Tan May Lee	Email: [e-mail]
Tavistock Communications	Tel: [phone]
Jeremy Carey / Simon Hudson / James Verstringhe	Email: [e-mail]
Fairfax I.S. PLC	Tel: [phone]
James King/ Gillian McCarthy

Notes to Editors:

London-listed Aseana Properties Limited (LSE: ASPL), is a property developer 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 ("FDI") destinations driving demand for commercial and industrial properties

 

END

 

 

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