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6 Aug 2009 09:22
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Date: 6Β AugustΒ 2009
On behalf of: Aseana Properties LimitedΒ ("Aseana" orΒ "the Company")
Immediate Release
Aseana Properties Limited
Major interest in Shares
Aseana Properties Limited,Β a leading Asian property developer,Β has recently received notification of a change in theΒ percentage voting share capital held by Standard Life Investments Ltd ("Standard Life"). Standard Life holds 15,000,000 ordinary shares in the Company which, following the share buy-back by the Company in June 2009 and the subsequent cancellation of shares, represents 7.058% of the issued voting share capital.
AseanaΒ is listed on the Main List of the London Stock Exchange.
-Ends-
Further information, please contact:
Enquiries:
|
Redleaf Communications |
Tel: 020 7566 6700 |
|
Samantha Robbins / Adam LevitonΒ / Kathryn Hurford |
Email:Β aseana@redleafpr.com |
|
Fairfax I.S. PLC |
Tel: 020 7598 5368 |
|
James KingΒ / Gillian McCarthy |
Notes to Editors
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.
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
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