Aseana Properties Share Discussion Threads

[hsm123] 09/6/2009 09:41

Yes and no.
AIUI, the main projects under construction require NO further equity from ASPL, being completely bank financed or deposit financed.

The projects that do need further equity are those still in the planning stage, i.e. all of the Vietnamese projects.

So yes, the cash is committed, but there is clearly discretion over how it is used (note the 15% buyback). But the other point is that cash invested today is likely to be more valuable over the long term than cash invested in the last few years -- it will be utilised closer to the trough than to the peak.

[badtime] 09/6/2009 09:15

erm wont they b usingthe ''cash pile'' to build the ''projects''

[hsm123] 09/6/2009 08:45

Here's a picture of their main project in KL which is under construction right now - Seni MK:

This is currently 60% sold, any news on an uptick in sales would be hugely beneficial for the shares

You can see the Petronas towers in the background.

Also, Vietnam is doing well at the moment, first quarter GDP came in at 3.1% with expectations of higher growth in Q2 and Q3.

The market cap is backed by cash with the projects thrown in for free!!!!

[badtime] 02/6/2009 21:50

Popped a bit today

[hsm123] 01/6/2009 20:49

Big volume today. I assume that's the result of the 5% buyback announced on Friday. Overhang now clear? If so, this could motor.

[davebowler] 29/5/2009 14:52

Date: 29 May 2009

On behalf of: Aseana Properties Limited ('Aseana' or 'the Company')

Immediate Release




Aseana Properties Limited

Share Buy-Back
Aseana Properties Limited (LSE: ASPL), an Asian property developer investing in Malaysia and Vietnam, today announces that the Board of the Company has resolved to implement a share buy-back scheme of up to 4.99% of the Company's shares in issue, which represents the remaining unused buy-back authority granted pursuant to a special resolution passed at the Company's extraordinary general meeting held on 17 October 2008. All shares bought back pursuant to this scheme will be cancelled.




Aseana is listed on the Main List of the London Stock Exchange.




-Ends-




Further information, please contact:




Enquiries:




Redleaf Communications
Tel: [phone]

Samantha Robbins / Adam Leviton / Kathryn Hurford
Email: [e-mail]






Fairfax I.S. PLC
Tel: [phone]

James King / Gillian McCarthy







Notes to Editors




Ireka Development Management, the Development Manager for Aseana Properties Limited, is a wholly-owned subsidiary of Ireka Corporation Berhad, a company listed on the Bursa Malaysia since 1993, which has over 40 years of experience in construction and property development.
Aseana Properties Limited typically invests in development projects at pre-construction stage, with a primary focus on locations within the major cities of Malaysia and Vietnam.
Investment is 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.
The Directors believe the following factors should provide sustainable growth in the real estate sectors of both Malaysia and Vietnam:
An increasing standard of living and urbanisation driven by a burgeoning young and middle class population

Clear Government role in encouraging participation of private sectors in real estate development, as well as encouraging and promoting land and property ownership

Improving availability of mortgages to encourage property ownership

Favoured Foreign Direct Investment (FDI) destinations driving demand for commercial and industrial properties

[davebowler] 26/5/2009 09:26

Yes- I think these are an absolute steal.

[badtime] 21/5/2009 11:46

U in these dave?

[davebowler] 20/5/2009 14:56

Research....enter Mayfair46 if asked for a code

[kefta] 09/5/2009 07:55

A couple of good days for Aseana, compare the chart to WKP which seems to have quite a few people interested

[reba] 08/5/2009 10:02

Some solid buying at 30K at a time.

Someone building a nice little stock.

Wish I had the money to do the same

[hsm123] 07/5/2009 08:51

2m traded yesterday, so hopefully the overhang is getting smaller by the day. Ticked up a bit today.

[reba] 06/5/2009 14:34

2800K buy just gone through as a sell

[nickcduk] 06/5/2009 10:12

hsm - Large overhang won't be cleared for a while yet. The seller is a hedge fund that is being wound up. Effectively a forced a seller. Once cleared the shares will move up pretty sharply when you consider it is Asia that is leading the world economy out of recession.

[kefta] 05/5/2009 19:38

I can't really understand the lack of interest from the PI's on this one.
It has several good points the share price looks to have bottomed out the share buy back, its got a good mix of properties and operates in a part of the world you would expect to recover more rapidly than the UK.

The share denomination in $'s possibly doesn't help with the $ dollar showing signs of weakness.

Property sector is warming up of late maybe its just a matter of time.

Kefta.

[hsm123] 05/5/2009 10:52

Some big trades went through on Thursday and today. Maybe that will clear the overhang. Big discount to NAV and company bought back shares at 15c a couple of weeks ago.

[kefta] 30/4/2009 18:13

Should raise the company profile if nothing else.

[kefta] 23/4/2009 18:15

RNS Number : 0181R
Aseana Properties Limited
23 April 2009

Date: 23 April 2009
On behalf of: Aseana Properties Limited ("Aseana" or "the
Company")
Immediate Release

Aseana Properties Limited
§ Share Buy-Back
Aseana Properties Limited announces that on 22 April 2009 it purchased
25,000,000 ordinary shares
of USD0.05 each in the Company ("Shares") at a price of USD 0.15 per Share, to
be held in treasury.

Following the transaction, the total number of Shares in issue after deducting
shares held in treasury is 225,000,000.

[jj45] 23/4/2009 17:03

45,000,000 shares sold yesterday

[qwazi] 23/4/2009 07:54

It's pretty unusual to be able to buy back shares at a discount to the cash on the balance sheet - there are very few companies who have done it (normally it is just at a discount to NAV, which is a whole different kettle of fish). I think that RTY did it, when they bought back 10% of the company @ 3p per share a couple of months back.

[humbugg] 23/4/2009 07:46

qwazi,
on the face of it yes, but......

[qwazi] 22/4/2009 19:10

That'll be the buyback (25m shares = 10% of the company).

humbugg - a buyback at a price less than the cash per share INCREASES the remaining cash per share, so should be enhancing for shareholders regardless of whether you believe the NAV or not.