Quarterly Investor Update

RNS Number : 1471J
Aseana Properties Limited
28 November 2008
 



Date:                                          28 November 2008

On behalf of:                              Aseana Properties Limited ('Aseana' or 'the Company')

For immediate release


Aseana Properties Limited

  • Quarterly Investor Update


Aseana Properties Limited (LSE: ASPL), an Asian property developer investing in Malaysia and Vietnam, announces that it has today issued a Quarterly Investor Update for the period ended 30 September 2008. Electronic copies of the report can be obtained on its website at the following link: http://www.aseanaproperties.com/ir.htm 


Aseana is listed on the Main 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



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:

    • 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 of 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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