Business
Update on the Divestment of the Portfolio
Update on the Divestment of the Portfolio.
About this update from Aseana Properties Limited
[{"type":"text","content":"\n \nRNS Number : 7567C Aseana Properties Limited 03 October 2018 \n\n \n3 October 2018\n \nAseana Properties Limited \n(\"Aseana\" or the \"Company\")\n \nUpdate on Progress of the Divestment of the Portfolio \n \nAseana Properties Limited (LSE: ASPL), a property developer in Malaysia and Vietnam listed on the Main Market of the London Stock Exchange, announces an update on the progress of divestment of the Company's assets.\n \nSENI Mont' Kiara, Kuala Lumpur\n \nThe Development Manager has successfully sold the final unit of SENI Mont' Kiara with the sale and purchase agreement signed on 26 September 2018. Owned 100.0% by Aseana, SENI is a completed upmarket condominium development situated on one of the highest points in Mont' Kiara with a Gross Development Value of approximately US$324 million. The project consists of two 12-storey blocks and two 40-storey blocks, comprising 605 residential units. The majority of units command impressive views of the city skyline including the 88-storey Petronas Twin Towers and the KL Tower. The Realisable Net Asset Value (\"RNAV\") of SENI as at 31 Dec 2017 was US$9.75 million and the RNAV of SENI at the point of exiting the project is approximately US$9.85 million.\n \nThe RuMa Hotel and Residences, Kuala Lumpur\n \nIn addition, The RuMa Hotel and Residences, Kuala Lumpur, received its Certificate of Completion and Compliance (\"CCC\") on 28 September 2018 and the handover of the hotel suites and residences to their purchasers is in progress.\n \nThe Development Manager is continuing to use its best effort to dispose of the other remaining assets of the Company within the schedule outlined in the previous announcement, with the target prices for these asset sales being at or around the published RNAV levels.\n \nFurther announcements will be made as soon as there is more clarity on the progress and timing of these disposals.\n \n \nFor further information:\n \n\n\n\nAseana Properties Limited\n\n\nTel: +603 6411 6388\n\n\n\n\nChan Chee Kian\n\n\nEmail: [email protected]\n\n\n\n\n\n\n\n \n\n\n\n\nN+1 Singer \n\n\nTel: 020 7496 3000\n\n\n\n\nJames Maxwell / James Moat (Corporate Finance) \nSam Greatrex (Sales)\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nTavistock Communications\n\n\nTel: 020 7920 3150\n\n\n\n\nJeremy Care...