Aseana Prop. Regulatory News (ASPL)

17 Sep 2009 11:58



Date: 17 September 2009

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

Immediate Release

Aseana Properties Limited

Appointment of Director

Aseana Properties Limited (LSE: ASPL), a property developer investing in Malaysia and Vietnam, today announces the appointment of Gerald Ong Chong Keng as non-executive director with effect from 16 September 2009. Gerald has extensive corporate advisory industry experience and is currently the Chief Executive Officer of PrimePartners Corporate Finance Pte. Ltd. Gerald's directorships for the past 5 years are as follows: 

Commenting on the appointment, Dato' Mohammed Azlan bin Hashim, Chairman of Aseana Properties Limited, said:

''As Gerald has over 20 years of experience in corporate finance, advisory, mergers and acquisitions, and equity capital markets, and recent experience in property investment, we feel he will be of great value to our business as we continue to pursue an opportunistic yet cautious approach in managing operations and investments".

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Notes to Editors

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