RNS Number : 0181R
Aseana Properties Limited
23 April 2009
Date: 23 April 2009
On behalf of: Aseana Properties Limited (“Aseana” or “the Company”)
Immediate Release
Aseana Properties Limited
§ Share Buy-Back
Aseana Properties Limited announces that on 22 April 2009 it purchased 25,000,000 ordinary shares
of USD0.05 each in the Company ('Shares') at a price of USD 0.15 per Share, to be held in treasury.
Following the transaction, the total number of Shares in issue after deducting shares held in treasury is 225,000,000.
-Ends-
Further information, please contact:
Enquiries:
|
Redleaf Communications
|
Tel: 020 7822 0200
|
|
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
§ 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.
§ 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:
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