28th Mar 2008 10:03
Aseana Properties Limited28 March 2008 This announcement replaces the Quarterly Investor Update released at 8:00am thismorning (RNS: 0002R). The web link has been amended accordingly. Date: 28 March 2008 On behalf of: Aseana Properties Limited ("Aseana" or "the Company") Immediate Release 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 31 December 2007. Electronic copies of the reportcan be obtained on its website at the following link: http://www.aseanaproperties.com/ir.htm Aseana Properties is listed on the Main List of the London Stock Exchange. Enquiries: Redleaf Communications Tel: 020 7822 0200Samantha Robbins / Adam Leviton 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.