31 Dec 2009 10:05
RNS Number : 8853E
Aseana Properties Limited
31 December 2009
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Date: 31Β DecemberΒ 2009
On behalf of: Aseana Properties LimitedΒ ("Aseana" orΒ "the Company")
Aseana Properties Limited
Β§ Major interest in Shares
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AseanaΒ Properties LimitedΒ (LSE: ASPL),Β a leadingΒ property developer investing in Malaysia and VietnamlistedΒ on theΒ OfficialΒ List of the London Stock Exchange,Β has recently receivedΒ notification from Thong Kok CheongΒ regarding the acquisition of 1,000,000 ordinary shares in the Company ("Shares") onΒ 23 December 2009. Following the acquisition,Β Thong Kok Cheong holdsΒ aΒ totalΒ ofΒ 10,700,000Β Shares, representingΒ 5.03% of the issued voting share capital of the Company.
Ends
Enquiries:
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Aseana Properties Ltd
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Tan May Lee
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Tel: +603 6203 6688
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Email:Β Β maylee.tan@ireka.com.my
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Redleaf Communications
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Tel:Β 020Β 7566Β 6700
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Adam Leviton / Kathryn Hurford
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Email:Β aseana@redleafpr.com
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Fairfax I.S. PLC
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Tel: 020 7598 5368
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Rachel Rees
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Notes to Editors
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Β§ 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.Β
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Β§ Investment is made in projects where it is believed there will be a minimum 30% annualised return on equity (βROEβ) on investments in Vietnam and a minimum 20% ROE on investments in Malaysia.
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Β§ No one underlying single asset will account for more than 30% of the gross assets of the Company at the time of investment.
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Β§ The Directors believe the following factors should provide sustainable growth in the real estate sectors of both Malaysia and Vietnam:
o An increasing standard of living and urbanisation driven by a burgeoning young and middle class population
o Clear Government role in encouraging participation of private sectors in real estate development, as well as encouraging and promoting land and property ownership
o Improving availability of mortgages to encourage property ownership
o Favoured Foreign Direct Investment (FDI) destinations driving demand for commercial and industrial properties
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Β§ 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.
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This information is provided by RNS
The company news service from the London Stock Exchange
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