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Director/PDMR Shareholding

30 Dec 2009 11:26

RNS Number : 8241E
Aseana Properties Limited
30 December 2009
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Date: 30Β DecemberΒ 2009

On behalf of: Aseana Properties LimitedΒ ("Aseana" orΒ "the Company")

Immediate Release

Aseana Properties Limited

DirectorΒ ShareholdingΒ 

The CompanyΒ has received notification thatΒ David Harris, Non-Executive Director of Aseana PropertiesΒ Limited,Β  acquiredΒ 79,000Β ordinary shares in the Company ("Ordinary Shares")Β on 23 December 2009, of which 50,000 Ordinary Shares were purchasedΒ at a price of 0.29Β penceΒ per shareΒ and 29,000 Ordinary Shares were purchased at a price of 0.2575 pence per share.

Following this acquisition,Β David HarrisΒ holds a beneficial interestΒ inΒ 79,000 Ordinary Shares,Β representing approximatelyΒ 0.033% of the issued share capital of the CompanyΒ (beingΒ 236,125,000Β Ordinary Shares).

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

Β 

-Ends-

Further information, please contact:

Enquiries:

Aseana Properties Ltd

Tel: +603 6203 6688

Tan May Lee

Email: maylee.tan@ireka.com.my

Redleaf Communications

Tel: 020Β 7566Β 6700

Adam LevitonΒ / Kathryn Hurford

Email:Β aseana@redleafpr.com

Fairfax I.S. PLC

Tel: 020 7598 5368

Rachel Rees

Notes to Editors

Aseana Properties LimitedΒ typically investsΒ in development projects at pre-construction stage, with a primary focus on locationsΒ within the major cities ofΒ MalaysiaΒ andΒ Vietnam.
InvestmentΒ is made in projects where itΒ 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 bothΒ MalaysiaΒ andΒ 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, theΒ DevelopmentΒ ManagerΒ for Aseana Properties Limited, is a wholly-owned subsidiary of Ireka Corporation Berhad, a company listed on the Bursa Malaysia since 1993, which hasΒ overΒ 40 years of experience in construction and property development.

This information is provided by RNS
The company news service from the London Stock Exchange
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END
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