Date: 27 August 2009
On behalf of: Aseana Properties Limited ('Aseana' or 'the Company')
Embargoed for: 0701hrs
Aseana Properties Limited
Quarterly Investor Update
Aseana Properties Limited (LSE: ASPL), a leading Asian property developer investing in Malaysia and Vietnam, announces that it has today issued a Quarterly Investor Update for the period ended 30 June 2009. Electronic copies of the report can be obtained on its website at the following link: http://www.aseanaproperties.com/quarterly.htm
Aseana is listed on the Official List of the London Stock Exchange.
Enquiries:
|
Aseana Properties Ltd |
Via Redleaf Communications |
|
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