Share Name Share Symbol Market Type Share ISIN Share Description
Aseana Prop. LSE:ASPL London Ordinary Share JE00B1RZDJ41 ORD USD0.05
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +$0.00 +0.00% $0.5075 $0.49 $0.525 $0.5075 $0.5075 $0.5075 0.00 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 22.1 -20.7 -7.4 - 107.60

Aseana Prop. Share Discussion Threads

Showing 126 to 148 of 150 messages
Chat Pages: 6  5  4  3  2  1
DateSubjectAuthorDiscuss
01/11/2016
15:17
HTtp://www.aseanaproperties.com/corporatepresentation.htm
davebowler
24/10/2016
08:29
N+Singer in August; Aseana Properties (ASPL) is conducting an orderly asset disposal, following the shareholder vote to cease making new investments. It has recently sold its entire position in Aloft Kuala Lumpur Sentral Hotel for US$104.2m and has utilised the proceeds to reduce its borrowings, and is currently in negotiations with its lenders to allow a capital distribution. Aseana Properties is a London listed property development company with assets based in Malaysia and Vietnam, launched in April 2007; it currently has five assets in Malaysia and a further asset in Vietnam, plus an equity stake in Nam Long Investment Corporation a listed Vietnamese equity investment. The below table shows details on these assets: Figure 1: Portfolio breakdown as at Q2 2016 Project Location Expected GDV Effective Ownership Project NAV US$ as at 30/6/16 Project RNAV US$ as at 30/6/16 Notes Tiffani by i-ZEN Malaysia US$92m 100% 3.89 3.89 99.7% sold and target to achieve 100% sales by end of Q4 2016 SENI Mont' Kiara Malaysia US$324m 100% 19.93 21.32 96.7% sold, targeted sales 100% by Q2 2017 Sandakan Harbour Square Malaysia US$116m 100% 31.17 36.07 Planned sale Habour Mall by Q4 2017, Sherton Hotel by Q2 2016 The Ruma Hotel & Residences Project Malaysia US$182m 70% 27.25 41.14 56% sold off plan, construction completion expected Q3 2017 Seafront Resort & Residential Development Malaysia US$14m 100% Hotel 80% Homes 10.01 13.43 Planned sale of development lands by Q4 2016 International Hi-Tech Healthcare Park Vietnam US$43m 72.35% 24.52 45.6 Divestment to dispose of hospital and parcels of land by June 2018 Equity Investment in Nam Long Inc Corp Vietnam 3.9% 8.16 8.16 Sub Totals 124.9 169.6 Cash 41.3 41.3 Other Assets & Liabilities -1.3 -1.3 Grand Totals 165.0 209.7 Number of shares in issue (m) 212.025 NAV / RNAV 77.8 98.9 Sources: Company data, N+1 Singer estimates Other than the disposal of Aloft Kuala Lumpur Sentral Hotel, the company has made the following progress:  Harbour Mall Sandakan is now approximately 62% let, following the opening of the cinema located at the mall on 30th July  SENI Mont’ Kiara (SENI) has achieved sales of approx. 97%  RuMa Hotel and Residences has achieved sales of approx.56%  Sheraton Sandakan Hotel has achieved an average occupancy rate of 34.7% for the six month period ended 30th June Investment Funds Current price*: ¢0.42 Mkt cap ($m): 90 Aseana Properties | Company Comment August 2016 2 Aseana Propert ies  Disposal of a further 2.2 million Nam Long shares earlier this month at an average price of VND 21,837 generating sale proceeds of approx. US$2.1m The sale of Aloft Kuala Lumpur Hotel, has substantially de-risked the company by enabling the manager to repay significant proportion of its outstanding debt, and help with continue negotiations with the other lenders to other projects to allow some cash to be distributed to shareholders. This disposal has generated a cash surplus of approx. US$30m (equivalent to 14c per share) after repaying the associated debt, and thereby closing the gap from NAV (now 77.8c) to RNAV (98.9c) considerably. With the shares trading at 42.25c the discount on the shares to NAV has widened to 46%, with the potential for cash distributions becoming much closer.
davebowler
26/8/2016
15:55
N+Singer; Aseana Properties (ASPL) is conducting an orderly asset disposal, following the shareholder vote to cease making new investments. It has recently sold its entire position in Aloft Kuala Lumpur Sentral Hotel for US$104.2m and has utilised the proceeds to reduce its borrowings, and is currently in negotiations with its lenders to allow a capital distribution. Aseana Properties is a London listed property development company with assets based in Malaysia and Vietnam, launched in April 2007; it currently has five assets in Malaysia and a further asset in Vietnam, plus an equity stake in Nam Long Investment Corporation a listed Vietnamese equity investment. The below table shows details on these assets: Figure 1: Portfolio breakdown as at Q2 2016 Project Location Expected GDV Effective Ownership Project NAV US$ as at 30/6/16 Project RNAV US$ as at 30/6/16 Notes Tiffani by i-ZEN Malaysia US$92m 100% 3.89 3.89 99.7% sold and target to achieve 100% sales by end of Q4 2016 SENI Mont' Kiara Malaysia US$324m 100% 19.93 21.32 96.7% sold, targeted sales 100% by Q2 2017 Sandakan Harbour Square Malaysia US$116m 100% 31.17 36.07 Planned sale Habour Mall by Q4 2017, Sherton Hotel by Q2 2016 The Ruma Hotel & Residences Project Malaysia US$182m 70% 27.25 41.14 56% sold off plan, construction completion expected Q3 2017 Seafront Resort & Residential Development Malaysia US$14m 100% Hotel 80% Homes 10.01 13.43 Planned sale of development lands by Q4 2016 International Hi-Tech Healthcare Park Vietnam US$43m 72.35% 24.52 45.6 Divestment to dispose of hospital and parcels of land by June 2018 Equity Investment in Nam Long Inc Corp Vietnam 3.9% 8.16 8.16 Sub Totals 124.9 169.6 Cash 41.3 41.3 Other Assets & Liabilities -1.3 -1.3 Grand Totals 165.0 209.7 Number of shares in issue (m) 212.025 NAV / RNAV 77.8 98.9 Sources: Company data, N+1 Singer estimates Other than the disposal of Aloft Kuala Lumpur Sentral Hotel, the company has made the following progress:  Harbour Mall Sandakan is now approximately 62% let, following the opening of the cinema located at the mall on 30th July  SENI Mont’ Kiara (SENI) has achieved sales of approx. 97%  RuMa Hotel and Residences has achieved sales of approx.56%  Sheraton Sandakan Hotel has achieved an average occupancy rate of 34.7% for the six month period ended 30th June Investment Funds Current price*: ¢0.42 Mkt cap ($m): 90 Aseana Properties | Company Comment August 2016 2 Aseana Propert ies  Disposal of a further 2.2 million Nam Long shares earlier this month at an average price of VND 21,837 generating sale proceeds of approx. US$2.1m The sale of Aloft Kuala Lumpur Hotel, has substantially de-risked the company by enabling the manager to repay significant proportion of its outstanding debt, and help with continue negotiations with the other lenders to other projects to allow some cash to be distributed to shareholders. This disposal has generated a cash surplus of approx. US$30m (equivalent to 14c per share) after repaying the associated debt, and thereby closing the gap from NAV (now 77.8c) to RNAV (98.9c) considerably. With the shares trading at 42.25c the discount on the shares to NAV has widened to 46%, with the potential for cash distributions becoming much closer.
davebowler
27/4/2016
08:58
N+1Singer; Highlights · Cash at the year-end was US$23m which excluded the receivable of US$7.4m which is equivalent to $0.1433 a share. · Occupancy at the Sandakan Mall at the year-end was 40.8% though this is now currently 63.6%. The management team will be in London during the week of the 27th of June 2016 band will be available for investor meetings.
davebowler
30/3/2016
18:20
db, On paper it looks a good sale of the property, but it is not expected to complete for some time yet, and given the track record of these guys, I will believe it when I see it. Some body (MM) struck lucky picking a few up at 33p before the announcement. I bought a couple of lots at higher prices, but not particularly tempted to buy any more at the moment. Noting your previous comment, I actually sold a few SIHL today at 77.5c. I've traded in and out of SIHL a couple of times, and will be back in if they fall back to the low 60's again. I retain about a third of my holding, as they are outside the ISA, and I'm happy to wait until the new tax year before I sell.
tiltonboy
30/3/2016
12:45
Bought back in.
davebowler
26/11/2013
14:26
I've sold up here and bought SIHL -on a similar discount to NAV.
davebowler
20/11/2012
11:19
http://www.aseanaproperties.com/pdf/quarterlyInvestorsUpdate/Aseana%20Tracker%20Q3%202012.pdf
davebowler
03/7/2012
07:52
low life scum look like they are trying to pull a fast one by offering a tender and not participating. That will take them to over 50% and therefore take control of the company. Should just do the honourable thing and make an offer for the entire company.
horndean eagle
18/5/2012
11:04
http://www.aseanaproperties.com/pdf/quarterlyInvestorsUpdate/ASPL%20QIU%20-Q1%202012%20-%20FINAL.pdf Property Portfolio Highlights Malaysia During the quarter under review, Aseana's sale of ongoing development units is progressing well. As at end of April 2012, sales of SENI Mont' Kiara had advanced to 79%, compared to 71% in January 2012 with sales and purchase agreements signed. The Company is also pleased to announce that all 129 retails lots for Sandakan Harbour Square Project (Phases 1 and 2) have been sold. On 13 March 2012, Aseana received the formal Development Order approval for 200 units of luxury residences and a 263-room boutique hotel for KLCC Kia Peng Project. The residences mostly consist of small apartments that will be marketed as an affordable luxury for buyers. It is also intended that the hotel suites be pre-sold on a sale and leaseback basis and operated under an international brand. Detailed project planning is now in its final stage with sales launch and construction targeted for Q4 2012. Aseana achieved a significant milestone by completing the Harbour Mall Sandakan in March 2012. Leasing activities to both local and international retailers are currently ongoing, with notable tenants such as Parkwell Departmental Store and Supermarket, Levi's, The Body Shop, Watsons, GNC, Tomei and Guardian amongst others. Meanwhile, the construction of the Four Points by Sheraton Sandakan hotel is targeted for completion in Q2 2012. Both Harbour Mall Sandakan and Four Points by Sheraton Sandakan hotel are situated in Sandakan Harbour Square, Sandakan and are targeted to commence operation in Q2 2012. Vietnam The Phuoc Long B project is currently undergoing detailed planning following the award of Investment License in November last year. Phase 1 of 37 villas is targeted for sales launch and construction in Q3 2012.
davebowler
09/3/2012
12:24
Aseana Properties Limited (LSE: ASPL), a property developer investing 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 December 2011. The full update can be obtained on Aseana's website at: http://www.aseanaproperties.com/quarterly.htm Highlights · Two of Aseana's residential development projects in Ho Chi Minh City, Vietnam, Phuoc Long B Project and Tan Thuan Dong Project received Investment Licenses in November and December 2011 respectively · On 28 December 2011, Aseana announced its intention to implement a limited share buy-back programme of up to 500,000 Ordinary Shares · Between 4 and 24 January 2012, Aseana purchased 500,000 Ordinary Shares at an average price of 34.93 cents. The repurchased shares are currently held as treasury shares Property Portfolio Update Sales Update January 2012 Projects % Sold* Tiffani by i-ZEN 96% Sandakan Harbour Square - Phase 1 (61 retail lots) 100% - Phase 2 (68 retail lots) 99% SENI Mont' Kiara 71% KL Sentral Office Towers & Hotel - Office Tower 1 100% - Office Tower 2 100% - Hotel 100% * Based on sales & purchase agreements signed. During the quarter under review, sales of luxury condominium units at Tiffani by i-ZEN and retail lots at Sandakan Harbour Square Phase 2 had advanced to 96% and 99% respectively, compared to 96% and 95% in Q3 2011. To date, 71% of SENI Mont' Kiara units have been sold with a further 8% of its units reserved and deposits received, as compared to 70% sold in Q3 2011. Both Aseana's residential development projects in Ho Chi Minh City, Vietnam, Phuoc Long B Project and Tan Thuan Dong Project received Investment Licenses in November and December 2011 respectively, with the timing of the Tan Thuan Dong Project ahead of our previous estimation. Commencement of construction on the Phuoc Long B Project and Tan Thuan Dong Project are expected in Q2 2012 and Q4 2012 respectively.
davebowler
28/12/2011
09:22
should help narrow nav, have taken a nibble.
envirovision
15/11/2011
10:24
Liberum; Real Estate Aseana Properties Limited (ASPL) – IMS and Interim dividend; NAV at 30/09/11 was $0.945/share (up slightly from $0.943/share last quarter 30/06/11). n Group net asset value was $200.84m. Revenue of US$192.25 million and a profit before tax of US$19.78 million, compared to revenue of US$9.93 million and a loss before tax of US$15.17 million for the period ended 30 September 2010 mainly attributable to completion of SENI Mont' Kiara Phase 1. Cash and cash equivalents (net of overdrafts) of US$36.21 million at 30 September 2011 (30 June 2011: US$43.43 million), decreased mainly attributable to monies used for on-going projects n Successfully completed 280 units in the final phase (Phase 2) of SENI Mont' Kiara luxury condominiums in Kuala Lumpur, Malaysia and obtained Certificate of Fitness in October 2011. The 135 units sold are currently being handed over to buyers. n Signing of Management Agreement on 11 November 2011 between Aseana and Starwood Asia Pacific Hotels & Resorts Pte Ltd to appoint Starwood as the operator of the Kuala Lumpur Sentral Hotel under the 'Aloft' brand n Aseana has successfully raised debt financing through a 10-year Guaranteed Medium Term Notes Programme of up to about US$162 million to be issued in Malaysia, the proceeds raised of which will be utilised to refinance the construction of the Four Points by Sheraton Sandakan hotel and the Harbour Mall Sandakan and to part finance the acquisition of the Aloft Kuala Lumpur Sentral hotel, all properties located in Malaysia. n Aseana confirms the payment of an interim dividend for the six months ended 30 June 2011 of US$0.01 per ordinary share. The dividend will be paid on 15 December 2011 to Shareholders on the register at the close of business on 25 November 2011. Liberum View: n We do not envisage a high level of NAV growth in the near term as the Vietnamese assets remain early stage and NAV already reflects market prices for Malaysian asset sales. The shares are trading at a considerable 60% discount to 30/09/11 NAV. However we feel a key omission to the Aseana interims was any comment on discount control management and proactive programmes for narrowing the substantial discount.
davebowler
24/8/2011
09:23
CHAIRMAN'S STATEMENT Introduction We are pleased to announce the half year results for Aseana Properties Limited ("Aseana") and its group of companies ("the Group") for the six months ended 30 June 2011. In the year to date, there was a small diverging trend between the Malaysian and Vietnamese property markets. Whilst the Malaysian property market has enjoyed a fairly robust recovery from the trough in 2009, the Vietnamese property market continues on a slow path to recovery. It is anticipated that the recent global events led by the European sovereign debt issue and downgrade of the US credit rating by Standard & Poor's may weigh on investor confidence in the short term. These global uncertainties affirm Aseana's conservative strategy of balancing the management of near term risks and investing in the future growth of the Company. Maintaining a strong balance sheet and liquidity will be key priorities for Aseana in the near term. Amidst these uncertainties, we are pleased to note that Aseana has recorded positive results for the six months ended 30 June 2011. In particular, the completion of SENI Mont' Kiara Phase 1 demonstrates the Company's ability to complete a large scale development over a period of challenging business conditions. Results For the six months ended 30 June 2011, the Group recorded revenue of US$189.67 million (H1 2010: US$2.35 million) and a net profit for the period of US$6.89 million (H1 2010: loss of US$13.33 million). For the period under review, the revenue and profit were mainly derived from SENI Mont' Kiara Phase 1 following its completion and issuance of certificate of occupation in April 2011. Net asset value for the Group has improved to US$200.52 million (31 December 2010: US$192.87 million) or US$0.943 per share (31 December 2010: US$0.904). Review of Activities & Property Portfolio Sales status: Projects % sales as at July 2011 % sales as at December 2010 Tiffani by i-ZEN 95% 95% SENI Mont' Kiara 68% 67% Sandakan Harbour Square - Phase 2 retail lots 94% 85% KL Sentral Office Towers & Hotel - Office tower 1 - Office tower 2 - Hotel 100% 100% 100% 100% 100% 100% Malaysia In April 2011, the Group completed the construction of SENI Mont' Kiara Phase 1 consisting of 325 units of luxury condominiums. The completion of these units has contributed positively to the results of the Group for the period under review. Phase 2 of SENI Mont' Kiara is expected to be completed in September 2011. Approximately US$63.31 million of deferred revenue currently on the balance sheet of the Group is expected to be recognised as revenue in the income statement upon its completion. The Manager has put in place various marketing plans for the remaining units at SENI Mont' Kiara. In January 2011, the Company announced its withdrawal from an option to acquire a piece of development land in Mont' Kiara, Kuala Lumpur known as the TM Mont' Kiara Commercial Development. Aseana's withdrawal was due to uncertainty in receiving the necessary approvals from the relevant authorities. The remaining half of the year will be a busy period for Aseana as we work on completing the final phase of SENI Mont' Kiara as well as the retail mall and Four Points by Sheraton Hotel in Sandakan Harbour Square. Development planning for the KLCC Kia Peng Residential Project is also in full swing and we expect to launch the sales of the project in early 2012. Vietnam In May 2011, Aseana announced that it had mutually agreed with Prudential Property Investment Management (Singapore) Pte Ltd ("PRUPIM Singapore") to terminate the conditional agreement to sell a 49% stake in its wholly-owned subsidiary, ASPL PV Limited to the PRUPIM Vietnam Property Fund in respect of the Tan Thuan Dong residential development in Ho Chi Minh City. The decision to terminate the agreement was due to unforeseen delays in fulfilling the conditions of the agreement, which resulted in delays to the development timetable that did not meet with PRUPIM Vietnam Property Fund's investment criteria. These conditions were initially expected to be fulfilled by the end of 2010, but are now expected in Q3 2011. However, the exit by PRUPIM Vietnam Property Fund does not affect the commercial feasibility of the development nor the ability of Aseana and Nam Long Investment Corporation ("Nam Long") to complete the development as planned. Aseana will continue the partnership with Nam Long to develop the residential project on a 80:20 basis. In April 2011, Aseana entered into a conditional agreement to develop a residential project on a 56,212 sq m parcel of land in District 9 of Ho Chi Minh City, known as Phuoc Long B. The project, consisting of 37 villas and 460 apartment units, will be developed by Aseana and Nam Long on a 55:45 basis. The project is located in a sought after and established residential area with a river frontage. The planning and licensing process is currently underway with construction expected to begin in the fourth quarter of 2011. Aseana continues to make good progress on its City International Hospital development in the International Hi-Tech Healthcare Park, Ho Chi Minh City. Construction has now reached the fifth storey of the nine-storey building and is on course for completion by the end of 2012. Depending on market conditions, the Company is looking to launch the sales of first phase of the residential component of the project in early 2012. MOHAMMED AZLAN HASHIM Chairman
davebowler
23/8/2011
10:15
http://www.aseanaproperties.com/pdf/Research_Reports/2.%2011%2006%2003%20Aseana%20Corporate%20Update.pdf
davebowler
20/5/2011
08:33
http://www.aseanaproperties.com/pdf/quarterlyInvestorsUpdate/Aseana%20Tracker%20Q1%202011.pdf
davebowler
19/5/2011
10:39
I sold out after exchanging emails with the company. Pointed out a share buyback should be launched. Was told they see better returns within their projects. Pointed out the company was run for the benefit of the investment manager rather than shareholders and that they have performed terribly relative to the market they operate in. Their targeted returns of 20% are nothing more that pipe dreams. They haven't managed it on a single property and I doubt they will ever manage it going forward.
horndean eagle
19/5/2011
08:47
Liberum; Aseana Properties (ASPL / BUY) – Q1 NAV -1.32%. ASPL reports an unaudited NAV/share of $0.896 at 31st March 2011 or $190.4m, representing a 1.32% loss. ASPL reports their separate "realisable" NAV/share of $1.155 or $245.39 or a gain of 0.35% in the quarter. Loss before tax of $2.54m was attributable to income on the sale of completed properties in Tiffani by i-ZEN and Sandakan Harbour Square (Phase 2) against marketing expenses of ongoing projects of US$1.48 million, of which revenue has not been recognised during the period. The market value of all projects in their respective local currency remained unchanged as at 31 December 2010. Liberum View: There was little change in valuation during the quarter with the uplift on realisable NAV coming from currency effects while there were some added expenses from marketing slightly offsetting an increase in income. While we do not expect significant NAV growth in the near term, we continue to believe the discount of 55.4% to realisable NAV and 43% to NAV (realisable NAV based on market values of property portfolio vs. cost in NAV) is too wide. Recent transactions in 1 Mont' Kiara have underpinned this valuation while cash of $37.85m is on the balance sheet (15% of RNAV and 34.5% of mkt cap). We believe a discount control policy may also be considered to help narrow this discount. We covered ASPL in more detail in our recent Emerging Markets Alternative View recommending as a BUY,
davebowler
03/5/2011
08:31
Liberum; Aseana Properties Limited (ASPL / BUY) - Aseana and PRUPIM Singapore terminate cooperation and disposal in the Tan Thuan Dong residential development in Ho Chi Minh City. ASPL announces that it has mutually agreed with Prudential Property Investment Management (Singapore) Pte. Ltd. to terminate the conditional agreement to sell a 49% stake in its wholly-owned subsidiary ASPL PV Limited to the PRUPIM Vietnam Property Fund, which is managed by PRUPIM Singapore (a subsidiary of Prudential Plc), in respect of the Tan Thuan Dong residential development. Aseana previously announced the signing of the conditional agreement with the PRUPIM Vietnam Property Fund on 24/8/2010. PRUPIM Vietnam Property Fund's decision to terminate the agreement occurred following unforeseen delays in fulfilling the conditions of the agreement including a transfer of the land use rights certificate for the development land, and the authorities' approval for an investment license, to the joint venture company. These conditions are now expected to be fulfilled in Q3 2011. The delays are expected to have a minimal impact on the expected returns of the Development, because the Development is not expected to launch its sales program until late 2011. ASPL PV Limited is a SPV owning 80% of the Development in a joint venture with Nam Long Investment Corporation. Aseana's conditional initial investment in the joint venture is $9.6m. Management are disappointed that their maiden partnership with PRUPIM Vietnam Property Fund did not materialise and this termination is mutual and amicable. The delays that the Development is facing are administrative in nature. Management believes Development's timetable is back on a firm footing of expected commencement of construction towards the end of this year. Liberum View: It is disappointing that the sale of 39% interest in Tan Thuan Dong development to PRUPIM Vietnam did not materialise. This residential development in Ho Chi Minh City has experienced challenging situation with delays in transfer of the land use right and authorities' approval. Full approvals for the project are now expected towards Q3 2011. Despite the prolonged process, ASPL continues to be committed to this development as the initial cost of the land acquisition is deemed attractive to generate targeted return. Other projects in Vietman continue to progress according to schedule with the start of construction in May 2010 in the first phase of International Hi-tech Healthcare Park. ASPL trades at 42% discount to NAV.
davebowler
27/4/2011
08:28
LIBERUM view; Aseana Properties Limited (ASPL / BUY) - Second residential project in partnership with Nam Long. ASPL announces that it has entered into a conditional agreement with Nam Long Investment Corporation to develop a residential project in Ho Chi Minh City. A 55:45 joint venture between ASPL and Nam Long will be formed, and ASPL will own a 55% stake in the JV through an equity investment of $7.92m. Nam Long is a leading private property developer based in Ho Chi Minh City Aseana owns a strategic minority stake of 16.4% in Nam Long, acquired in July 2008. This will be ASPL's second project with Nam Long since our initial investment in 2008. Located within a prime suburban residential area, the development will consist of 37 villas and c. 460 apartment units in a 15- storey tower block. The project is expected to have a Gross Development Value of c.$100m. Preliminary site preparation work has commenced and construction is expected to begin in Q4 2011. Liberum View: ASPL is harvesting the earlier investments in Malaysia and deploying realisation proceeds into development projects in Vietnam. As of 31/12/2010, the Company has a cash balance of $150.4m (2009: $62m) due to receipt of the proceeds from 1 Mont' Kiara asset sales. ASPL has been trading at an average discount of 54% in the last 12 months and the current level of 43% is still too wide. ASPL has a significant exposure in Malaysia (more than 50% of its portfolio value) which is a relatively matured market in South-east Asia with a currently stable real estate market and strong currency. Compared with its peers such as VNL which trades at 33% discount, ASPL's wide discount is unwarranted and this deserves the board's attention.
davebowler
14/4/2011
08:28
Vinacapital in a positive frame of mind; VinaCapital Investment Management 13 April 2011 Update on residential project sales and marketing Ho Chi Minh City - VinaCapital, a leading asset management and real estate development firm focused on Vietnam, announces today the results of sales and marketing of residential properties during the first quarter of 2011. During the first three months of 2011, a record total of 264 sale and purchase (SPA) and capital contribution (CCA) contracts were signed, representing a value of USD20.9 million. The CCAs include a large number of cleared land plots at Project Venus, a township in Nha Trang, while 31 SPAs were executed on completed and under-construction condominiums, townhouses and villas at projects in Danang and the Ho Chi Minh City region, as detailed below. The USD20.9 million sales figure for Q1 2011 is significantly higher than the USD7.4 million in sales recorded during the same period in 2010. For 2010 full year, USD73.8 million in SPAs were signed. All VinaCapital-managed residential real estate assets are marketed under the VinaLiving brand, Vietnam's first tailored living and lifestyle brand. VinaLiving will hold its first property exhibition in Danang from 30 April to 3 May 2011, to coincide with the city's international fireworks competition where up to one million domestic visitors are expected. Project Venus - township in Nha Trang, central Vietnam VinaLiving has launched the first four phases of this township development in the central coastal city of Nha Trang. The four phases consist of 695 total land lots, ranging in size from 100-300sq.m. Approximately 85 percent of Phases 1-3 lots have sold, and 60 percent of Phase 4 lots. The township project comprises over 150 hectares and features freehold villa and townhouse plots alongside schools, a hospital and shopping facilities, all within 10 minutes of the Nha Trang coastal strip. The largest show village on the central coast of Vietnam is currently under construction, with a completion date scheduled for Q3 2011. Project Niagara - integrated resort in Danang, central Vietnam Sales are underway for units at three villa enclaves and one condominium tower at this 260-hectare integrated resort in Danang, central Vietnam. Total SPAs signed have reached a value of USD64 million. The official launch of the Norman Estate's 33-unit villa enclave is set for Q2 2011, with seven units already reserved for sale. Project Danube - mixed-use development in Danang, central Vietnam Construction of the residential tower of this mixed-use urban development in downtown Danang has reached the 18th storey, with SPAs signed for 45 units of the 225 units. Negotiations are underway with key potential retail anchor tenants for the 48,000sq.m Phase 2 retail centre that is a key component of the project. Project Jupiter - township in Dong Nai province, near Ho Chi Minh City The official launch event of the five-villa display centre at this 200-hectare township project will be held on 9 April. To date, 120 SPAs have been signed for villas and townhouses, including premium prices in excess of USD500,000 for non-waterfront, five-bedroom villas. Upcoming project launches During 2011, at least two major launch events are planned for large-scale residential developments in Ho Chi Minh City. The first, Project Mars, is a 30-hectare residential development in District 9, in the same area that saw the successful launch and sale of a 53-villa development in 2009-2010. The second, Project Nile, is a major city-centre landmark mixed-use development in District 5, in Ho Chi Minh City's Chinatown commercial area. Commenting on the residential sales results over the second half of 2010, David Henry, Managing Director of VinaCapital's real estate division, said: "We are very pleased with the continued strong performance of our current projects. The two launches planned for 2011 should allow us to match and likely exceed the sales figure from 2010. "The sales environment in early 2011 is challenging, given the high interest rates prevailing in Vietnam. Nonetheless, our projects are seeing sustained demand given their prime locations and quality, further supported by the VinaLiving brand name which is now gaining traction in the marketplace." The real estate assets described herein are owned by VinaLand Limited (VNL.L) and the VinaCapital Vietnam Opportunity Fund (VOF.L), two AIM-traded closed-end funds managed by VinaCapital Investment Management Ltd. VNL and VOF have invested in a 75/25 percent ratio, respectively, in all the residential development projects mentioned above.
davebowler
28/2/2011
16:03
Yes but I think from memory less than a third is in Vietnam. Latest update; http://www.aseanaproperties.com/pdf/quarterlyInvestorsUpdate/ASPL%20Q4%202010.pdf
davebowler
22/2/2011
10:01
Surprised little impact of the devaluation of the dong here dave, take a look at how liquid funds are reacting eg XFVT
envirovision
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