22nd Aug 2007 11:04
Aseana Properties Limited22 August 2007 Date: 22 August 2007 On behalf of: Aseana Properties Limited ("Aseana" or "the Company") Aseana Properties Limited• Net Asset Value Aseana Properties Limited (LSE: ASPL), an Asian property developer investing inMalaysia and Vietnam, today announces that at close of business on 30 June 2007,its unaudited net asset value per share is US$0.968. Enquiries: Aseana Properties Limited Contactable via Redleaf Redleaf Communications Tel: 020 7822 0200Emma Kane / Samantha Robbins Email: [email protected] Fairfax I.S. PLC Tel: 020 7598 5368James King Notes to Editors • Ireka Development Management, the Manager, is a wholly-ownedsubsidiary of Ireka Corporation Berhad, a company listed on the Bursa Malaysiasince 1993, which has 40 years of experience in construction and propertydevelopment. • The Company will typically invest in development projects at thepre-construction stage, with a primary focus on location within the major citiesof Malaysia and Vietnam. • Investment will be made in projects where it is believed there willbe a minimum 30% annualised return on equity ("ROE") on investments in Vietnamand a minimum 20% ROE on investments in Malaysia. • No one underlying single asset will account for more than 30% of thegross assets of the Company at the time of investment. • It is the intention that the Net Proceeds of the Placing will befully invested in accordance with the investment policy within 12 months ofAdmission. • The Directors believe the following factors should providesustainable 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 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Aseana Prop.