Aseana Properties Limited
22 August 2007
Date: 22 August 2007
On behalf of: Aseana Properties Limited ('Aseana' or 'the Company')
Aseana Properties Limited
• Net Asset Value
Aseana Properties Limited (LSE: ASPL), an Asian property developer investing in
Malaysia and Vietnam, today announces that at close of business on 30 June 2007,
its unaudited net asset value per share is US$0.968.
Enquiries:
Aseana Properties Limited Contactable via Redleaf
Redleaf Communications Tel: 020 7822 0200
Emma Kane / Samantha Robbins Email: sr@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 will typically invest in development projects at the
pre-construction stage, with a primary focus on location within the major cities
of Malaysia and Vietnam.
• Investment will be 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.
• 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 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
This information is provided by RNS
The company news service from the London Stock Exchange