Aseana Prop. Share News (ASPL)

Aseana extends sale and purchase deal for selling Malaysia assets

(Alliance News) - Aseana Properties Ltd on Monday said it signed a supplemental sale and purchase agreement to extend a prior agreement on selling the Sandakan hotel asset and the adjacent Harbour Mall in Malaysia.

EARNINGS AND TRADING: Alba Mineral finds gold targets at Dolgellau

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

IN BRIEF: Aseana Properties raises USD1 million from directors' loans

Aseana Properties Ltd - Malaysia and Vietnam-focused property developer - Secures USD1 million in total in working capital from three loan agreements, two of which are with directors and associates. The loans run for one year and pay 15% annual interest. They are secured by Aseana's RuMa Hotel & Residence in Kuala Lumpur. Back in January, Aseana had said it was seeking up to USD2 million in short-term finance. This was after it withdrew legal action that it was taking in Malaysian courts against Ireka Corp Bhd, the parent company of its former development manager, for non-payment of various debts.

IN BRIEF: Aseana Properties withdraws legal action against ICB

Aseana Properties Ltd - Malaysia and Vietnam-focused property developer - Withdraws legal action that it was taking in the Malaysian Courts against Ireka Corporation Berhad, the parent company of its former development manager, for non-payment of various debts. Case withdrawn after ICB agreed to transfer 38.8 million shares in Aseana plus its 30% shareholdings in the two joint venture companies that own The RuMa Hotel & Residences in Kuala Lumpur to Aseana. Estimates impact of the settlement would be to decrease the net asset value from USD69.1 million as at June 30 2023, to a pro forma unaudited NAV of USD63.4 million as at the same date.

IN BRIEF: Aseana says Sandakan sale ongoing as bank pays loan notes

Aseana Properties Ltd - Malaysia and Vietnam-focused property developer - Says that negotiations for the sale of the Sandakan hotel asset and Harbour Mall Sandakan are "ongoing". Aseana agreed in June to sell the assets for MYR165 million, around USD35 million. Says that the medium term notes used to finance the two assets have been paid back by the notes' bank guarantors, following the creation of an event of default. Aseana failed to pay back the notes on the original agreement date of December 8 and was given an extra thirty-day cure period. Company says the unnamed prospective buyer will submit a bank guarantee "in the next few days", which would cover the outstanding loan.

IN BRIEF: Aseana touts Sandakan sale progress despite note default

Aseana Properties Ltd - Property developer in Malaysia and Vietnam - Says it is still making progress on the sale of its Sandakan hotel asset, as well as the adjacent Harbour Mall Sandakan asset, and that an extension has been made to the sale and purchase agreement. Explains that payment of part of the purchase price is being arranged.

EARNINGS: Symphony bemoans "weak global demand"; Aseana sells assets

(Alliance News) - The following is a round-up of earnings of London-listed companies, issued on Tuesday and not separately reported by Alliance News:

TRADING UPDATES: Kefi confident; Aseana Properties sells assets

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

IN BRIEF: Aseana shareholders allow continuation, depose director

Aseana Properties Ltd - Jersey-headquartered property developer in Malaysia and Vietnam - On Wednesday said shareholders voted against discontinuation resolution at general meeting on Tuesday. Company will continue to seek asset disposal "in a measured manner" until next discontinuation vote in May 2025. At annual general meeting also on Tuesday, shareholders re-elected Chair Nicholas Paris with 57% of the vote; 43% voted against. Non-Executive Director Hock Chye Tan also was re-elected with 79% of the vote. However 67% voted against re-electing Monica Lai to the board. Lai's duties as non-executive director therefore have stopped with immediate effect.

UK shareholder meetings calendar - next 7 days

Aseana Properties agrees to sell 32 unsold residences in Kuala Lumpur

(Alliance News) - Aseana Properties Ltd on Friday said that it has agreed to sell a number of its unsold residences in Kuala Lumpur.

EARNINGS SUMMARY: Argo Blockchain revenue drops as Bitcoin prices fall

(Alliance News) - The following is a round-up of earnings updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

IN BRIEF: Aseana loss widens as Covid restrictions hit RuMA hotel

Aseana Properties Ltd - Jersey-based property developer with investments in Malaysia and Vietnam - In the first half of 2022, pretax loss widens to USD12.8 million from USD1.3 million a year before. Records no revenue for the period, comapred to USD516,00 a year before. Net asset value per share amounts to 40 cents at June 30, down from 47 cents at the end of December. Says Covid travel restrictions were lifted in January in Malaysia, but borders did not reopen until April 1. This hit the RuMa Hotel, which has 32% occupancy for the period. Also notes the headwinds of Covid-19 restrictions in China, the economic impact of the Ukraine war, as well as monetary policy tightening across central banks.

IN BRIEF: Aseana Properties to find new buyer for RuMa Hotel

Aseana Properties Ltd - Jersey-based property development company - On Wednesday, announces that the conditions of the agreement to sell the remaining residences at RuMa Hotel & Residences have not been met. Consequently, the sale agreement was terminated. Company therefore restarts efforts to find a new potential buyer for the assets.

TRADING UPDATES: FirstGroup extends takeover date; Tasty repays debt

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News: