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Aseana Prop Ltd (ASPL)

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Friday 14 May, 2010

Aseana Prop Ltd

Major interest in Shares

RNS Number : 9293L
Aseana Properties Limited
14 May 2010
 



 

14 May 2010

 

Aseana Properties Limited

("Aseana Properties"/ "the Company")

 

 

Major interest in Shares

 

 

Aseana Properties Limited, a leading property developer in Malaysia and Vietnam, listed on the Main List of the London Stock Exchange, has recently received notification of the number of ordinary shares and percentage voting rights in the Company held by Thong Kok Cheong. As a result of an acquisition of shares, Thong Kok Cheong now holds 11,112,500 ordinary shares in the Company representing 5.23% of the issued voting share capital of the Company.

 

 

For further information:

 

Aseana Properties Limited

Tel: +603 6203 6688

Tan May Lee

Email: maylee.tan@ireka.com.my

Tavistock Communications

Tel: 020 7920 3150

Jeremy Carey / Simon Hudson / Gemma Bradley

Email: jcarey@tavistock.co.uk

Fairfax I.S. PLC

Tel: 020 7598 5368

James King


 

 

Notes to Editors:

 

London-listed Aseana Properties Limited (LSE: ASPL) ("Aseana" or "the Company"), is a property developer in Malaysia and Vietnam.

 

Aseana typically invests in development projects at pre-construction stage.  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.

 

Ireka Development Management Sdn Bhd ("IDM") is the exclusive Development Manager for Aseana. It is a wholly-owned subsidiary of Ireka Corporation Berhad, a company listed on the Bursa Malaysia since 1993, which has over 40 years experience in construction and property development. IDM is responsible for the day-to-day management of Aseana's property portfolio and the introduction and facilitation of new investment opportunities.

 

Fundamentals of Malaysia and Vietnam remain strong for future growth, especially with indications pointing to strong growth in emerging markets this year. In particular, the real estate sectors are likely to flourish due to:

·      An increasing standard of living and urbanisation driven by a burgeoning young and middle-class population

·      Clear government role in encouraging participation of private sectors in real estate development, as well as encouraging and promoting land and property ownership

·      Improving availability or mortgages to encourage property ownership

·      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
 
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