Sign In
Last checked at 
26 Jun 2008 10:22
ο»Ώ
Date: 26Β JuneΒ 2008
On behalf of: Aseana Properties LimitedΒ ("Aseana" orΒ "the Company")
Β
Aseana Properties Limited
Quarterly Investor Update
Aseana Properties LimitedΒ (LSE: ASPL),Β an AsianΒ property developerΒ investing inΒ MalaysiaΒ andΒ Vietnam,Β announces that it has today issued a Quarterly Investor Update for the period ended 31Β March 2008. Electronic copies of the report can be obtained on its website at the following link:Β
http://www.aseanaproperties.com/ir.htmΒ
AseanaΒ is listed on the Main List of the London Stock Exchange.
Enquiries:
|
Redleaf Communications |
Tel: 020 7822 0200 |
|
Samantha Robbins / Adam LevitonΒ / Kathryn Hurford |
Email:Β aseana@redleafpr.com |
|
Fairfax I.S. PLC |
Tel: 020 7598 5368 |
|
James King |
Notes to Editors
Ireka Development Management, the Manager, is a wholly-owned subsidiary of Ireka Corporation Berhad, a company listed on the Bursa Malaysia since 1993, which has 40 years of experience in construction and property development.
The Company typically investsΒ in development projects at the pre-construction stage, with a primary focus on locationsΒ within the major cities ofΒ MalaysiaΒ andΒ Vietnam.
InvestmentΒ isΒ 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.
It is the intention that the Net Proceeds of the Placing will be fully invested in accordance with the investment policy within 12 months of Admission.
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
Follow the stocks
