Results of Share Buy-back

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: [phone]
Samantha Robbins / Adam Leviton / Kathryn Hurford	Email: [e-mail]
Fairfax I.S. PLC	Tel: [phone]
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

 

END

 

 

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