Sale of remaining residences at The RuMa Hotel

12 May 2023

Aseana Properties Limited

("Aseana" or the "Company")

Sale of remaining residences at The RuMa Hotel & Residences

Aseana Properties Limited (LSE: ASPL), a property developer in Malaysia and Vietnam, listed on the Main Market of the London Stock Exchange, announces that it has with the same party (i) entered into a conditional agreement to sell 32 unsold residences and (ii) will shortly enter into conditional agreements to sell the remaining 25 unsold residences at The RuMa Hotel & Residences ("RuMa") in Kuala Lumpur. 

The net proceeds for the total transaction is MYR 72 million (approximately US$16 million) and is subject to, inter alia, final due diligence by the buyer and receipt of government approval (land office) for the sale to a foreign investor. It is expected that the transaction will complete within six months whereupon Aseana will make a further announcement. 

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