Aseana Prop. Regulatory News (ASPL)

15 Oct 2009 13:57



Date: 15 October 2009

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

Immediate Release

Aseana Properties Limited

Aseana Properties Limited (LSE: ASPL), a leading property developer investing in Malaysia and Vietnam, today announces that Dato' Mohammed Azlan bin Hashim, the Chairman of the Company, was recently appointed as non-executive director to Parkway Holdings Limited which is listed on the Singapore Exchange.

Aseana is listed on the Main List of the London Stock Exchange.

-Ends-

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Notes to Editors

Aseana Properties Limited typically invests in development projects at pre-construction stage, with a primary focus on locations within the major cities of Malaysia and Vietnam.

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.

No one underlying single asset will account for more than 30% of the gross assets of the Company at the time of investment.

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

Ireka Development Management, the Development Manager for Aseana Properties Limited, is a wholly-owned subsidiary of Ireka Corporation Berhad, a company listed on the Bursa Malaysia since 1993, which has over 40 years of experience in construction and property development.