30th Nov 2018 12:25
LONDON (Alliance News) - Aseana Properties Ltd on Friday said it is progressing on the divestment of its eight assets in the two countries, with scheduled completion by the first quarter of 2020.
The property developer investing in Malaysia and Vietnam said it terminated discussions with a China-based buyer for the disposal of the Seafront Resort & Residential Development. The talks were ceased due to a change in Malaysian macro-economic conditions subsequent to the general election.
Aseana Properties said it is currently in discussions with several other interested parties.
In the nine months to the end of September, the company said it sold the final unit of its SENI Mont' Kiara complex, located in Kuala Lumpur.
At the end of September, the company completed the RuMa Hotel & Residences, also in Kuala Lumpur, and is now processing a handover of the hotel suites and service residences to their purchasers.
In Vietnam, the company said its manager is currently in advanced negotiations with a Vietnam-based healthcare group for the divestment of City International Hospital.
In addition, Aseana Properties noted that it adopted a new international accounting standard IFRS 15. As a result, NAV grew to USD144.2 million compared to USD127.4 million based on the previous accounting standard.
NAV per share also improved to USD0.726 from USD0.641.
Aseana Properties shares were untraded on Friday, last closing at USD0.54 each.
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