Aseana Properties Limited Quarterly Investor Update (5128B)

TIDMASPL

RNS Number : 5128B

Aseana Properties Limited

17 June 2016

17 June 2016

Aseana Properties Limited

("Aseana")

Quarterly Investor Update

Aseana Properties Limited (LSE: ASPL), a property developer in Malaysia and Vietnam, listed on the Main Market of the London Stock Exchange, has issued its Quarterly Investor Update for the three month period to 31 March 2016, a copy of which can be obtained from Aseana's website at: http://www.aseanaproperties.com/quarterly.htm .

Highlights:

-- Aseana disposed of the Aloft Kuala Lumpur Sentral Hotel to Prosper Group Holdings for a gross transaction value of RM418.7 million (approx US$104.6 million), with completion expected by 30 June 2016. Aloft achieved an occupancy rate of 78.0% for the period ended 31 March 2016.

-- The RuMa Hotel and Residences achieved approx 54.7% sales based on sale and purchase agreements signed, compared to 51.3% recorded in January 2016.

-- Tenancy Rate of Harbour Mall Sandakan improves to 62.5%, recovering from a low of 40.9% in 2015 following the exit of the anchor tenant.

-- City International Hospital under the leadership of new CEO, Dr Le Quoc Su, has seen a steady improvement in performance over the previous year.

-- Aseana disposed of a further 2.0 million Nam Long shares in April 2016 at VND22,800 per share (generating gross proceeds of c. US$2.0 million. Aseana's stake in Nam Long now stands at 5.5%.

For further information:

 
 Aseana Properties Limited               Tel: [phone] 
 Chan Chee Kian                          Email: [e-mail] 
 
 N+1 Singer                              Tel: [phone] 
 James Maxwell / Liz Yong (Corporate 
 Finance) 
 Sam Greatrex (Sales) 
 
 Tavistock Communications                Tel: [phone] 
 Jeremy Carey / James Verstringhe        Email: [e-mail] 
 
 
 

Notes to Editors:

London-listed Aseana Properties Limited (LSE: ASPL) is a property developer investing in Malaysia and Vietnam.

Ireka Development Management Sdn Bhd ("IDM") is the exclusive Development Manager for Aseana. It is a wholly-owned subsidiary of Ireka Corporation Berhad, a company listed on the Bursa Malaysia since 1993, which has over 48 years of experience in construction and property development. IDM is responsible for the day-to-day management of Aseana's property portfolio and the introduction and facilitation of new investment opportunities.

This information is provided by RNS

The company news service from the London Stock Exchange

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June 17, 2016 02:00 ET (06:00 GMT)