Date: 22 July 2009
On behalf of: Aseana Properties Limited ('Aseana' or 'the Company')
Immediate Release
Aseana Properties Limited
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Director details change
Aseana Properties Limited (LSE: ASPL), a leading Asian property developer investing in Malaysia and Vietnam, today announces that Dato' Seri Ismail Bin Shahudin, a non-executive director of the Company, was recently appointed to the following listed companies:
|
Company |
Remarks |
|
Malayan Banking Berhad |
Public company listed on Bursa Malaysia |
|
Mutiara Goodyear Development Berhad |
Public company listed on Bursa Malaysia |
|
Plus Express Berhad |
Public company listed on Bursa Malaysia |
|
UEM Group Berhad |
wholly owned subsidiary of Khazanah National Berhad, one of the Malaysian Government's investment arms |
|
EP Manufacturing Berhad |
Public company listed on Bursa Malaysia |
|
SMPC Corporation Berhad |
Chairman, Public company listed on Bursa Malaysia |
Aseana is listed on the Main List of the London Stock Exchange.
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Further information, please contact:
Enquiries:
|
Redleaf Communications |
Tel: 020 7566 6700 |
|
Samantha Robbins / Adam Leviton / Kathryn Hurford |
Email: aseana@redleafpr.com |
|
Fairfax I.S. PLC |
Tel: 020 7598 5368 |
|
James King / Gillian McCarthy |
Notes to Editors
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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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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.
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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.
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No one underlying single asset will account for more than 30% of the gross assets of the Company at the time of investment.
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The Directors believe the following factors should provide sustainable growth in the real estate sectors of both Malaysia and Vietnam:
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An increasing standard of living and urbanisation driven by a burgeoning young and middle class population
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Clear Government role in encouraging participation of private sectors in real estate development, as well as encouraging and promoting land and property ownership
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Improving availability of mortgages to encourage property ownership
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Favoured Foreign Direct Investment (FDI) destinations driving demand for commercial and industrial properties
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This information is provided by RNS