Aseana Properties Investors - ASPL

Aseana Properties Investors - ASPL

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Aseana Properties Limited ASPL London Ordinary Share JE00B1RZDJ41 ORD USD0.05
  Price Change Price Change % Stock Price Last Trade
0.00 0.0% 0.32 00:00:00
Open Price Low Price High Price Close Price Previous Close
0.32 0.32 0.32 0.32 0.32
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Top Investor Posts

DateSubject
27/4/2016
08:58
davebowler: 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.
09/3/2012
12:24
davebowler: 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.
24/8/2011
09:23
davebowler: 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
23/11/2010
11:42
davebowler: Property Investors look East; http://www.ftadviser.com/InvestmentAdviser/Investments/News/article/20101122/226447ae-f179-11df-8eaf-00144f2af8e8/Investors-look-east-for-property.jsp
17/6/2010
12:15
davebowler: Aseana Properties Limited ("Aseana") Quarterly Investor Update Aseana Properties Limited (LSE: ASPL), a property developer in Malaysia and Vietnam, reports it has today issued its Quarterly Investor Update for the period to 31 March 2010. The full update can be obtained on Aseana's website at: http://www.aseanaproperties.com/quarterly.htm Highlights: · Net Asset Value at 31 March 2010 of US$201.49 million (31 December 2009: US$205.07 million) - reduction mainly attributed to unrealised foreign exchange loss of US$2.0 million. · Realisable Net Asset Value at 31 March 2010 of US$270.07 million (31 December 2009: US$264.60 million) - gains attributed to translation gains from its Malaysian subsidiaries. The market value of all projects in its respective local currency remained unchanged. · Obtained construction license for the first phase of the International Hi-Tech Healthcare Park in Ho Chi Minh City, Vietnam. Piling work commenced in early May. For further information: Aseana Properties Limited Tel: +603 6203 6688 Tan May Lee Email: maylee.tan@ireka.com.my Tavistock Communications Tel: 020 7920 3150 Jeremy Carey / Simon Hudson / Amy Walker Email: jcarey@tavistock.co.uk Fairfax I.S. PLC Tel: 020 7598 5368 James King Notes to Editors: London-listed Aseana Properties Limited (LSE: ASPL) ("Aseana" or "the Company"), is a property developer 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 ("FDI") destinations driving demand for commercial and industrial properties
27/11/2009
17:47
davebowler: 27 November 2009 On behalf of: Aseana Properties Limited ("Aseana" or "the Company") Aseana Properties Limited - Sale of Tower 2 at KL Sentral development - Refund of deposit for Wall Street Project - Net Asset Value Aseana Properties Limited (LSE: ASPL), a leading Asian property developer investing in Malaysia and Vietnam listed on the Official List of the London Stock Exchange, is pleased to announce that the project company in respect of the KL Sentral development in Kuala Lumpur, in which it owns a 40 per cent. stake, has successfully sold Tower 2 to an international real estate fund. The sale price achieved is RM458.4 million and is subject to certain deferred payment terms and other conditions. Commenting on the development, Dato' Mohammed Azlan bin Hashim, Chairman of Aseana Properties Limited, said: "We are extremely pleased that we have successfully pre-sold Tower 2 (with 500,000sf floor area) despite a challenging economic environment. This is testament to the hard work that has gone into this project, and the high quality of the development. The sale of the Tower at this time ensures that the funding is in place to complete the project." Aseana is also pleased to announce that it has been successful in retrieving the deposit (plus interest) relating to the Wall Street project from the People's Committee of District 1, Ho Chi Minh. As the City authorities have yet to announce the final planning and procurement guidelines for the site, the Company is now in the process of exiting the joint venture agreement with a view to terminating the project. The total amount refunded is $5.3 million which accounts for an unrealised exchange loss from Vietnamese Dong to US Dollars. The Company has, however, allocated the funds to existing projects in Vietnam and therefore does not intend to realise the loss. The Company further announces that, as stated in the Company's Quarterly Investor Update, the Company's NAV per Share and RNAV per Share as at 30 September 2009 are US$0.875 and US$1.032 respectively based on the total issued share capital of the Company and US$0.972 and US$1.146 respectively based on the issued share capital excluding treasury shares. Ends Enquiries: Aseana Properties Ltd Tan May Lee Tel: +603 6203 6688 Email: tanmaylee@ireka.com.my Redleaf Communications Tel: 020 7566 6700 Samantha Robbins / Adam Leviton / Kathryn Hurford Email: aseana@redleafpr.com Fairfax I.S. PLC Tel: 020 7598 5368 James King / Gillian McCarthy Notes to Editors 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 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.
06/8/2009
08:34
hsm123: Thong Kok Cheong announced as new 4% shareholder. A local property investor, check out his bio below. ASPL has been quiet recently but with results due at the end of the month, and a new investor on board...? Dato' Dr. Thong Kok Cheong Dato' Dr. Thong worked for Shell for 19 years, gaining considerable experience in upstream business of exploration, production of oil and gas, and downstream oil business in refining, supply and trading. He was appointed Chief Corporate Planner for Shell Group of Companies in Malaysia from 1991 to 1993. After that he left to start his own business in property development, manufacturing and trading. Dato' Dr. Thong was appointed to the Board of Directors of Jasa Megah Industries Bhd and Insas Bhd in 1993. He retired from the two companies in 2000. His current interest is in consultancy, property development and investment. He graduated from Imperial College of Science and Technology, London with First Class Honors in Chemical Engineering in 1968 and obtained his PhD in 1971. He received the RH Gummer prize for 1969/70 for his research work in combustion and had published papers in the Proceedings of the Royal Society, UK, Institute of Chemical Engineering, UK and Journal of Physics, UK. He was also the founding member of Imperial College Alumni Malaysia and a past President of the Alumni.
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