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Pin to quick picksAseana Prop. Share News (ASPL)

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TRADING UPDATES: Kefi confident; Aseana Properties sells assets

Fri, 30th Jun 2023 17:28

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

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Kefi Gold & Copper PLC - Ethiopia-focused gold and copper company - Says going through finance closing and launch procedures at Tulu Kapi gold project in Ethiopia. Next steps would include final preparations and signing of definitive documentation between the respective syndicate counterparties. Kefi Executive Chair Harry Anagnostaras-Adams says: "We have conditionally assembled 95% of the project funding requirement of USD390 million, with the remainder also allocated with a specific set of parties and expected to simultaneously close their binding commitments alongside the others, for construction start in the fourth quarter of 2023." Adds: "We can now say that we successfully protected the project during the recent years of turmoil. Our actions on the ground, in the boardrooms and with the government preserved and strengthened the project finance syndicate and allowed us to move forward now with confidence." Says projects in Saudi Arabia, meanwhile, "are enjoying very positive regulatory support". Anagnostaras-Adams adds: After many years of frustration, we believe we are now well-placed to charge ahead. I am pleased to report that your company has not only maintained its excellent record of safety and of tenure protection, but we have also drawn together first-tier partnerships, banking relationships and contractors into project-finance alliances in each of Ethiopia and Saudi Arabia.

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Aseana Properties Ltd - property developer in Malaysia and Vietnam - Enters binding conditional agreement to sell Sandakan hotel asset and the Harbour Mall Sandakan for MYR165 million, around USD35 million. Deal to be paid in two tranches of MYR82.5 million each.

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Narf Industries PLC - cybersecurity services provider - In the process of finalising the audit with auditors PKF Littlejohn LLP. Expects results and restoration to share trading now later than July 14.

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VVV Resources Ltd - investor focused on identifying opportunities in the precious metals and base metals sector - Says auditors need additional time for 2022 audit. VVV says: "While the audit process has yet to be concluded, the directors have been advised by their auditors that the audit is substantially complete and there is one outstanding query that has to be addressed." Says trading of shares to be suspended as will not file by Friday's deadline.

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By Eric Cunha, Alliance News news editor

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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30 Apr 2024 18:43

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8 Apr 2024 15:20

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.

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2 Apr 2024 19:33

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11 Mar 2024 06:56

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.

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29 Jan 2024 21:46

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.

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8 Jan 2024 14:08

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.

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8 Dec 2023 16:42

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.

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26 Sep 2023 15:32

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:

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2 Jun 2023 12:13

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.

Read more
23 May 2023 15:46

UK shareholder meetings calendar - next 7 days

Wednesday 24 May 
4imprint Group PLCAGM
Adriatic Metals PLCAGM
Arbuthnot Banking Group PLCAGM
Artisanal Spirits Co PLCAGM
Bango PLCAGM
Coca-Cola Europacific Partners PLCAGM
Deliveroo PLCAGM
Deltic Energy PLCAGM
Distribution Finance Capital Holdings PLCAGM
Dunedin Enterprise Investment Trust PLCAGM
ECSC Group PLCCourt and General Meetings re Daisy Corporate Services Trading Ltd takeover
Empiric Student Property PLCAGM
Fidelity Japan Trust PLCAGM
HICL Infrastructure PLCAGM
Horizonte Minerals PLCAGM
Intertek Group PLCAGM
Ithaca Energy PLCAGM
Kelso Group Holdings PLCAGM
Lookers PLCAGM
M&G PLCAGM
Mercantile Investment Trust PLCAGM
Microlise Group PLCAGM
Mortgage Advice Bureau Holdings PLCAGM
National World PLCAGM
Ondine Biomedical IncAGM
Petershill Partners PLCAGM
Playtech PLCAGM
Quarto Group IncAGM
Real Estate Investors PLCAGM
RHI Magnesita NVAGM
Tullow Oil PLCAGM
US Solar Fund PLCAGM
Zotefoams PLCAGM
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Biome Technologies PLCAGM
Capital & Regional PLCAGM
Destiny Pharma PLCAGM
Ferrexpo PLCAGM
Fevertree Drinks PLCAGM
Headlam Group PLCAGM
Henry Boot PLCAGM
Hill & Smith PLCAGM
LBG Media PLCAGM
Life Science REIT PLCAGM
LSL Property Services PLCAGM
NAHL Group PLCAGM
Petrofac LtdAGM
Pharos Energy PLCAGM
Prudential PLCAGM
Regional REIT LtdAGM
Resolute Mining LtdAGM
RM PLCAGM
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Argos Resources LtdGM re disposal and cancellation
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Itsarm PLCGM re delisting from AIM
Keywords Studios PLCAGM
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Old Mutual LtdAGM
Solgenics LtdGM re cancellation from admission to trading on AIM
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Watchstone Group PLCAGM
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

Read more
12 May 2023 12:39

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.

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28 Apr 2023 14:38

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:

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15 Sep 2022 13:41

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.

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