Aseana Properties Share Discussion Threads

[davebowler] 27/4/2011 09:28

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 09:28

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;

[envirovision] 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

[davebowler] 14/2/2011 15:50

No, not at all-I see it as a positive feature.

[badtime] 09/2/2011 19:31

u dont mind the currency risk then dave?

[davebowler] 09/2/2011 14:38

'Aseana Properties started with buy rating and 75p target price at Panmure Gordon.'
Thanks for that nellie1973.

[nellie1973] 09/2/2011 14:14

Broker upgrade

[badtime] 17/1/2011 21:46

still in dave?

[davebowler] 10/12/2010 12:16

Buoyant statement from a similar, Vietnam only, co;



10 December 2010
For immediate release

VinaCapital Group

Update on residential project sales and marketing

Ho Chi Minh City - VinaCapital Group, a leading asset management, investment
banking and real estate firm focused on Vietnam, announces today the results of
sales and marketing of residential properties during the second half of 2010.

During the last six months, a total of 481 sales contracts and reservations were
recorded at projects in Danang, Nha Trang and Ho Chi Minh City, representing
total contracts and reservations worth over USD58 million.

As reported in our last sales update, all VinaCapital-managed residential real
estate assets are now marketed under the Vinaliving brand, Vietnam's first
tailored living and lifestyle brand.

My Gia Township, Nha Trang
Vinaliving launched Phase 1 of its new township in the central coastal city of
Nha Trang in late November 2010. Phase 1, comprising 276 lots ranging in size
from 100-300sq.m, now has 200 completed presale contracts, with 36 reservations.
Phase 2 was on 4 December, with an additional 150 lots. Ninety lots have sold,
with deposits taken. The My Gia 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, which
features the VNL-owned Sheraton Nha Trang Hotel and Spa.

The Ocean Villas at Danang Beach Resort
The Ocean Villas, launched in late August 2009, now has 96 completed contracts
worth USD71 million. The Ocean Villas form part of the 260-hectare Danang Beach
Resort near the central coastal city of Danang. The centrepiece of the Danang
Beach Resort is the Greg Norman-designed Danang Golf Club, in operation since
April 2010.

The 'Norman Estates at Danang Beach Resort' (Phase 6 of the Danang Beach
Resort), comprising 37 villas, will be launched in Q1 2011 by Greg Norman. A
display villa and a private member club are under construction. Initial
marketing of the USD41 million Norman Estates project has been very encouraging.

The Cham Condominiums at Danang Beach Resort
Vinaliving launched this mid-rise condominium project at Danang Beach Resort in
February 2010. The three-block complex is situated among the Ocean Villas and
offers magnificent ocean views. Presales were strong, allowing construction of
the first block to start in March 2010, along with construction of a central
management facility building. The first block of 41 units is nearing roof level,
with 12 contracts and four reservations to date.

The Azura Apartments at World Trade Center Danang
The first phase of the riverfront parkland refurbishment programme was approved
by the Danang municipal government in early December, providing an opportune
time for Vinaliving to launch Phase 2 of the Azura Apartments, with changes made
to the display centre following buyer feedback. With construction now well
several storeys above street level, sales activity has picked up, to the tune of
USD 7.5 million in recorded sales. The onsite activity has increased interest in
the 24,000sq.m Phase 1 retail centre that is a key component of the WTC Danang
project, due to start in Q2 2011.

The Garland, Ho Chi Minh City
Following its successful launch in 2009, The Garland project is nearing
completion, with contracts for all but five of the 53 villas. The average sales
price of USD1,150/sq.m for bare shell villa construction has set a new benchmark
in this area of District 9, suburban Ho Chi Minh City. VinaCapital has signed a
contract to divest the condominium site for USD350/sq.m of land area. The
Garland was the first Vinaliving-branded product and was very well received by
the market. VinaCapital is actively sourcing sites in suburban Ho Chi Minh City
for similar projects.

Dai Phuoc Lotus Township, Dong Nai Province
The 200ha Dai Phuoc Lotus island township project is now well underway, with a
five-unit display centre due to open in March 2011, along with a ferry terminal
that will allow arrival by boat. Phase 4 comprising 332 villas was launched in
mid-November 2011, with 109 sales contracts signed and a further 17
reservations, for total revenue of USD26.5 million. The Vinaliving brand has
helped generate premium prices in excess of USD500,000 for non-waterfront
five-bedroom villas.

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 performance of our current projects, and are confident
that the five Vinaliving projects launched in the second half of 2010 will see
continued success in 2011.

"Demand continues to be strongest in the mid-range market addressing Vietnam's
rising middle class. Vietnam's GDP growth rate anticipated at almost seven
percent in 2010 is due to the strength of the domestic economy, with rising
incomes driving the growth of the real estate market."

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 except The Garland, which is wholly-owned
by VNL.

Forward-looking statements:
This news release contains statements that constitute forward-looking statements
that include but are not limited to statements regarding the expected income
generated from residential real estate sales of both built and unbuilt
properties owned by funds managed by VinaCapital Group ("the Company"). Undue
reliance should not be placed on forward-looking statements. Forward-looking
statements are based on current expectations, estimates and projections that
involve a number of risks and uncertainties, which could cause actual results to
differ materially from those anticipated by the Company and described in the
forward-looking statements. These risks and uncertainties include but are not
limited to construction risks and delays, and unforeseen changes to general
economic and business conditions. Forward-looking statements are based on the
estimates and opinions of the Company's management at the time the statements
are made. The Company assumes no obligation to update forward-looking statements
should circumstances or management's estimates or opinions change, except as
required by law.

Notes to Editors:
VinaCapital Group is a leading asset management, investment banking and real
estate development firm with unrivalled experience in the Vietnam market.
VinaCapital Group was founded in 2003 and has grown from a single USD10 million
fund to a diversified investment firm with over USD1.7 billion in assets under
management as of October 2010.

VinaCapital manages three closed-end funds trading on the AIM Market of the
London Stock Exchange. These are: VinaCapital Vietnam Opportunity Fund (VOF);
VinaLand Limited (VNL); and Vietnam Infrastructure Limited (VNI).
VinaCapital also co-manages the DFJ VinaCapital technology venture capital fund
with Draper Fisher Jurvetson. More information is available
at www.vinacapital.com.

[davebowler] 23/11/2010 11:42

Property Investors look East;

[davebowler] 12/11/2010 13:09

Director Shareholding



The Company has received notification that Gerald Ong Chong Keng, Non-Executive Director of Aseana Properties Limited, acquired 570,000 ordinary shares in the Company ("Ordinary Shares") on 12 November 2010 at a price of USD 0.50 per share.



Following this acquisition, Gerald Ong Chong Keng holds a beneficial interest in 570,000 Ordinary Shares, representing approximately 0.27% of the issued share capital of the Company (being 212,525,000 Ordinary Shares).



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






Aseana Properties Limited



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



Aseana typically invests in development projects at pre-construction stage. 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.



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 40 years 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.



Fundamentals of Malaysia and Vietnam remain strong for future growth, especially with indications pointing to strong growth in emerging markets this year. In particular, the real estate sectors are likely to flourish due to:



•


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 or mortgages to encourage property ownership

•


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

[davebowler] 08/11/2010 09:52

Aseana Properties' pre-tax loss for the nine months to the end of September rose to $15.17m - up from $13.33m at the end of June.
Realisable NAV up;
After-tax losses for the period rose to $15.24m from $13.3m.

The net asset value was $192.08m or $0.904 per share compared with $192.97m or $0.908 per share at the end of June.

The realisable net asset value at the end of September was $280.09m or $1.318 per share compared with US$259.2m or US$1.220 per shareat the end of June.

The gains were attributed to the revaluation of equity investment in Nam Long Investment Corporation and translation gains in certain subsidiaries.

Aseana Properties said the market value of all projects in their respective local currency remained unchanged.

Story provided by StockMarketWire.com

[envirovision] 25/8/2010 11:04

Its always nice to be reminded of the quality of the assets. Wonder if the IMS will have anything to add.

[davebowler] 24/8/2010 10:57

Property developer Aseana Properties has conditionally agreed to sell a 49% stake in its wholly-owned subsidiary, ASPL PV, to the PRUPIM Vietnam Property Fund, which is managed by Prudential Property Investment Management (Singapore).

ASPL PV is a special purpose vehicle created to develop a residential development in the Tan Thuan Dong area, District 7 of Ho Chi Minh City, Vietnam.

It owns 80% of the Development in a joint venture with Nam Long Investment Corporation, a leading private property developer based in Ho Chi Minh City with over 17 years of experience in the region, and a land bank of over 570 hectares in prime locations across southern Vietnam.

Completion of the sale is conditional upon the development receiving the necessary consents including a transfer of land use rights certificate for the development land and authorities' issuance of an investment certificate.

Both are anticipated to be issued before the end of this year.

Story provided by StockMarketWire.com

[davebowler] 11/8/2010 10:31

Encouraging residential property demand shown ,and consequent sales, by a competitor;

RNS Number : 0579Q
VinaCapital Investment Management
28 July 2010

?


28 July 2010
For immediate release


VinaCapital Group

Update on residential project sales and marketing

Ho Chi Minh City - VinaCapital Group, a leading asset management, investment
banking and real estate firm focused on Vietnam, announces today the results of
sales and marketing of residential properties during the second quarter of 2010.

During the three month period ending 30 June 2010, a total of 136 sales
contracts and reservations were recorded at projects in Danang and Ho Chi Minh
City, representing a total value of almost USD29 million, comprising USD18
million in reservations and almost USD11 million in sales contracts.

This figure almost equals the USD36 million in sales contracts and reservations
recorded over the six month period spanning the fourth quarter of 2009 and first
quarter 2010. The conversion rate from reservations to sales is 80 percent on
average across all residential projects now selling.

The past quarter saw sales at the The Ocean Villas and Dunes Residences at the
Danang Beach Resort, and the The Azura Apartments at the World Trade Center
Danang. In the Ho Chi Minh City region, sales were recorded at The Garland in
District 9 and the Sen Phuong Nam Villas at the Dai Phuoc Lotus project, in Dong
Nai province.

All sales and marketing of VinaCapital-developed residential units occurs under
the VinaLiving brand, Vietnam's first tailored-living and lifestyle brand. The
brand will soon feature a trading floor with an integrated and highly customized
online and in-store sales interface.

"The launch of the VinaLiving brand is perfectly timed, as VinaCapital continues
to separate itself from the market and grow to become the industry-leading real
estate developer in Vietnam. The residential sales results in 2009 and 2010
to-date confirm that we are providing the right products in the right locations,
particularly the mid-range of the market that is seeing high demand from
Vietnam's rising middle class," says David Henry, Managing Director of
VinaCapital Real Estate Ltd.

"We have an extremely strong residential sector pipeline that will continue to
benefit from the high demand for quality housing going forward," David says.

The five projects with active sales have a total of 740 units in launched
phases, with 456 units remaining for sale. In addition, the upcoming quarter
will see the launch of sales and marketing at phase 1 of the My Gia Township
project in Nha Trang and the Norman Estates at the Danang Beach Resort. Total
sales revenue from these two projects is estimated at about USD75 million.

VinaLiving projects target both high-end and mid-range consumers, with the
Vietnam residential market currently supported by demographic trends, strong GDP
growth, rising personal incomes, and an expansion of the nascent mortgage
market.

VinaCapital Real Estate Ltd is the developer of real estate assets owned by
VinaLand Limited (VNL.L) and the 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 except The Garland, which is
wholly-owned by VNL.

Forward-looking statements:
This news release contains statements that constitute forward-looking statements
that include but are not limited to statements regarding the expected income
generated from residential real estate sales of both built and unbuilt
properties owned by funds managed by VinaCapital Group ("the Company"). Undue
reliance should not be placed on forward-looking statements. Forward-looking
statements are based on current expectations, estimates and projections that
involve a number of risks and uncertainties, which could cause actual results to
differ materially from those anticipated by the Company and described in the
forward-looking statements. These risks and uncertainties include but are not
limited to construction risks and delays, and unforeseen changes to general
economic and business conditions. Forward-looking statements are based on the
estimates and opinions of the Company's management at the time the statements
are made. The Company assumes no obligation to update forward-looking statements
should circumstances or management's estimates or opinions change, except as
required by law.

Notes to Editors:
VinaCapital Group is a leading asset management, investment banking and real
estate development firm with unrivalled experience in the Vietnam market.
VinaCapital Group was founded in 2003 and has grown from a single USD10 million
fund to a diversified investment firm with USD1.8 billion in assets under
management as of June 2010.

VinaCapital manages three closed-end funds trading on the AIM Market of the
London Stock Exchange. These are: VinaCapital Vietnam Opportunity Fund (VOF);
VinaLand Limited (VNL); and Vietnam Infrastructure Limited (VNI).
VinaCapital also co-manages the DFJ VinaCapital technology venture capital fund
with Draper Fisher Jurvetson. More information is available
at www.vinacapital.com.

[davebowler] 03/8/2010 10:00

Oops,- I've been on hols (to Asia as it happens) so didn't pick up your justified comment ,charlie. Here is the one I meant to attach -July '10!!

[horndean eagle] 24/7/2010 00:06

I reckon they have been back in the market buying up stock. Long may it continue

[charlie] 23/7/2010 20:26

Aberdeen Asset Man are keen on Asian property; new fund

The article you have linked to is dated 2 March 2007!!