Aseana Properties Limited
30 November 2007
Date: 30 November 2007
On behalf of: Aseana Properties Limited ('Aseana' or 'the Company')
Aseana Properties Limited
- Quarterly Investor Update
Aseana Properties Limited (LSE: ASPL), an Asian property developer investing in
Malaysia and Vietnam, announces that it has today issued a Quarterly Investor
Update for the period ended 30 September 2007. Electronic copies of the report
can be obtained on its website at the following link:
http://www.aseanaproperties.com/investorsrelations.htm
Aseana Properties is listed on the Main List of the London Stock Exchange.
Enquiries:
Redleaf Communications Tel: 020 7822 0200
Emma Kane / Samantha Robbins Email: sr@redleafpr.com
Fairfax I.S. PLC Tel: 020 7598 5368
James King
Notes to Editors
- Ireka Development Management, the Manager, is a wholly-owned
subsidiary of Ireka Corporation Berhad, a company listed on the Bursa Malaysia
since 1993, which has 40 years of experience in construction and property
development.
- The Company will typically invest in development projects at the
pre-construction stage, with a primary focus on location within the major cities
of Malaysia and Vietnam.
- Investment will be 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.
- It is the intention that the Net Proceeds of the Placing will be
fully invested in accordance with the investment policy within 12 months of
Admission.
- 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
This information is provided by RNS
The company news service from the London Stock Exchange
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