22nd Aug 2007 11:41
Aseana Properties Limited22 August 2007 Date: 22 August 2007 On behalf of: Aseana Properties Limited ("Aseana" or "the Company") Aseana Properties Limited • Quarterly Investor Update Aseana Properties Limited (LSE: ASPL), an Asian property developer investing inMalaysia and Vietnam, announces that it has today issued a Quarterly InvestorUpdate for the period ended 30 June 2007. Electronic copies of the report canbe obtained on its website at the following link: http://www.aseanaproperties.com/investorsrelations.htm 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-owned subsidiary of Ireka Corporation Berhad, a company listed on the Bursa Malaysia since 1993, which has 40 years of experience in construction and property development. • The Company will typically invest in development projects at the pre-construction stage, with a primary focus on location within the major cities of Malaysia and Vietnam. • Investment will be 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. • It is the intention that the Net Proceeds of the Placing will be fully invested in accordance with the investment policy within 12 months of Admission. • 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 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Aseana Prop.