Director Details Change

Date:                    15 October 2009

On behalf of:        Aseana Properties Limited ("Aseana" or "the Company")

Immediate Release

Aseana Properties Limited

• Director details change

Aseana Properties Limited (LSE: ASPL), a leading property developer investing in Malaysia and Vietnam, today announces that Dato' Mohammed Azlan bin Hashim, the Chairman of the Company, was recently appointed as non-executive director to Parkway Holdings Limited which is listed on the Singapore Exchange.

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

-Ends-

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Notes to Editors

• 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.  

• Investment is made in projects where it 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 both Malaysia and 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, 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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