Aseana Properties Share Discussion Threads

[robizm] 30/11/2009 12:52

Does not state what it cost and if they made a profit.

[davebowler] 27/11/2009 17:47

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: [phone]



Email: [e-mail]

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




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.

[davebowler] 23/11/2009 10:37

Asian property developer Aseana Properties Ltd has entered into a conditional joint venture agreement with Nam Long Investment Corporation.

The agreement is for an upscale residential development in Tan Thuan Dong area, District 7 of Ho Chi Minh City, Vietnam.

The agreement is conditional upon the award of an investment licence to a joint venture company which will be formed between the Aseana and Nam Long, and the transfer of the land use rights certificate for the development land to the joint venture company.

Aseana will be taking an 80 percent stake in the joint venture company.

[davebowler] 06/10/2009 15:22

Schroder's Property Securities fund Manager view on relative outlook on Asian Property Securities

........... throughout Asia, and the reason for that is
twofold. One is they have great growth prospects long-term and even in the short term
but more importantly they are virtually unlevered, ungeared. And if we look at their
average gearing, weighted average gearing for our Asian portfolio, it's in the 20 to 25%
range, whereas if we compare that with the UK market it's more in the 55 to 65% range.

So we had companies that didn't have to rely on banks, in fact they were net lenders to
the financial community, as are the consumers in Asia, so we really played the
anti-leverage game and the pro-growth game in the first part of this crisis really

[spoodle] 01/10/2009 02:28

This has layed low too long. Lets hope October is the month for Aseana, GLA.

[jecass] 29/9/2009 20:22

Good to see this rising today. Still way undervalued when you look at the nav.

[apsis2] 29/9/2009 14:07

Now 20% up today. Let's hope tomorrow brings more buyers if this gets on the radar.

[davebowler] 29/9/2009 10:28

19th July discussion on Vietnam as a play on china

[apsis2] 29/9/2009 09:38

Some buys going through today and yesterday - moving north.

[davebowler] 22/9/2009 17:17

Discussion
/ video on Asia Property bubble

[davebowler] 22/9/2009 11:18

Highlights from this month's Vinacapital report





"The rapid sales reservations recorded in July and August shows the current strength of Vietnam's residential real estate market," says David Henry, Managing Director of VinaCapital Real Estate Ltd. "Demand is particularly high in the mid-range market addressing Vietnam's rising middle class. Vietnam's GDP growth rate of over four percent in 2009 is due to the strength of its domestic economy, and this is driving the organic growth of the local real estate market.

[qwazi] 22/9/2009 09:07

Had a nice little run. Very much below the radar, very few seem interested although discount to NAV remains massive. Perhaps some news on further sales at Seni MK would help.

[davebowler] 20/8/2009 13:17

Vinaland VNL a comparable company appears to be on a current discount to asset value of c.25% see page 4



Whereas ours is about 70% below!

[davebowler] 20/8/2009 13:06

Could benefit our fund;

VinaCapital Vietnam Opportunity Fund Limited


Statement of intent to invest in closed-end funds

VinaCapital Vietnam Opportunity Fund Limited ("VOF" or "the Company"), an
AIM-traded investment company established to target key growth segments within
Vietnam's emerging market, announces its intention to invest in shares of other Vietnam-focused closed-end funds trading at substantial discounts.

The Board of Directors of the Company ("the Directors") have elected, subject to market conditions and following certain procedures, to allow VOF to invest up to 10 percent of its Net Asset Value ("NAV") at the time of purchase in shares of other closed-end Vietnam funds. This includes VinaLand Limited ("VNL"), an AIM-traded closed-end fund also managed by VinaCapital Investment Management Limited ("VinaCapital" or "the Investment Manager") with a primary focus on real estate investment.

Investment in VinaLand / Fee rebate

Real estate investment has been a key strategy for VOF since its inception.
After VinaLand was established in March 2006, VOF has selectively co-invested
alongside VinaLand in its direct real estate investments. However, over the past 6 months VNL shares have traded at discounts of up to 80%. In light of this substantial discount, the Board has elected to allow VOF to make its real estate investments indirectly through VNL shares.

The Investment Manager will rebate to VOF the management fees corresponding to the portion of VOF's holding in VNL shares.

As described in VNL's admission document, VOF has the right of first refusal to take up to a 25 percent direct stake in newly acquired VNL assets. VOF will
temporarily suspend this right during such periods of VOF investment in VNL
shares until further notice.

As at the date of this announcement, the Company held 14,749,044 shares in VNL, representing a 2.95 percent equity stake in VNL and 1.49 percent of the
Company's NAV.

In respect of any VOF investment in other funds managed by VinaCapital, the
Directors have instituted the following protocols. VOF will enter into fixed
arrangements with an independent broker to specifically purchase on its behalf
and within certain pre-set parameters, ordinary shares of the other fund or
funds managed by VinaCapital. VOF intends to acquire and hold shares in other
funds managed by VinaCapital via such arrangements on a rolling basis.
Furthermore, only the Independent Directors of the VOF Board shall be authorised to provide instructions to the third party broker and to vote on behalf of VOF at any shareholder meetings of the other funds managed by VinaCapital.

In the event that VOF invests in listed closed-end investment funds not managed by VinaCapital, the above protocols will not apply, and the Investment Manager shall exercise its judgment on behalf of the Company's shareholders within itsstandard trading authorities.

[davebowler] 07/8/2009 16:50

Useful if there's oil under our properties!

[hsm123] 06/8/2009 09:34

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.

[hsm123] 23/7/2009 19:30

announcement today confirms that Osprie are out. Overhang has been cleared once and for all.

[hsm123] 20/7/2009 09:02

up another 5% already this morning. anyone else in these?

[hsm123] 17/7/2009 13:19

here we go!

[hsm123] 16/7/2009 23:25

if osprie have sold all of their holding then that should clear the way for the stock to rise. They have been selling in dribs and drabs over the last couple of months so there was no need for any buyers to chase the price as they always knew there was a supply of stock. Now 24m of supply has disappeared I doubt there will be any other sellers around.

This is on an 80% discount to NAV and has loads of cash on its balance sheet. Should see a decent run from here.

[rambutan2] 16/7/2009 16:14

that's osprie leaving. wonder who/s picking them up.

[davebowler] 16/7/2009 16:07

24m shares traded!

[davebowler] 16/7/2009 13:53

16 July 2009

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

For Immediate Release







Aseana Properties Limited

Aseana is awarded four stars in the Asia Pacific Property Awards 2009, in association with CNBC Arabiya




Aseana Properties Ltd (LSE: ASPL), a leading Asian property developer on the Official List of the London Stock Exchange, is delighted to announce that its seafront urban renewal project, Sandakan Harbour Square (www.sandakanharboursquare.com.my) is one of only two projects awarded four stars in the Commercial Redevelopment / Renovation category in the Asia Pacific Property Awards 2009.




Chairman of Aseana Properties Ltd, Dato' Mohammed Azlan bin Hashim was presented with the award in a ceremony at the Marina Mandarin in Singapore today. The event marked the end of this section of the International Property Awards, the world's most prestigious competition dedicated to finding the best real estate professionals across the globe.




The Sandakan Harbour Square project is located within the Central Business District of Sandakan (in Sabah), an increasingly popular tourist destination in Malaysia which also boasts the Country's highest income per capita. The project has an estimated Gross Development Value of US$141 million (or approximately RM500 million).




Sandakan Harbour Square, which launched in early 2003, embraces 3 main objectives:

Growth (to provide a catalyst for the modernisation of Sandakan)

Tourism (to enhance Sandakan as a tourist destination)

Urban regeneration (to redevelop Sandakan into a bustling commercial centre)




Chairman of Aseana Properties Ltd, Dato' Mohammed Azlan bin Hashim said;

'We are honoured that the Sandakan Harbour Square project has been so highly recognised at the CNBC-Asia Pacific Property Awards 2009. Being at the heart of the Sandakan Central Business District, Sandakan Harbour Square will certainly be pivotal in the revitalisation of the town, bringing sustained growth and prosperity.




'In addition to providing international standards in retail and leisure facilities, Sandakan Harbour Square also represents the revival of Sandakan as a new hub for commerce and tourism in the state of Sabah.'










- Ends -









Enquiries:




Aseana Properties Limited
Contactable via Redleaf Communications






Redleaf Communications
Tel: [phone]

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






Fairfax I.S. PLC
Tel: [phone]

James King / Gillian McCarthy










Notes to editors




Aseana 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.




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







Sandakan Harbour Square




Phase 1 of Sandakan Harbour Square was completed in August 2006, and consists of a 3-storey Central Market building (a Central Market and Fish Jetty), a City Harbour Square for community activities, a 1.5 km waterfront esplanade, a boutique hotel named Swiss Inn Waterfront and 61 units of 3 and 4-storey shop offices.




The new Central Market is now the shining icon of Sandakan, providing the modern conveniences, comfort and hygienic environment to the communities in Sandakan. In recent years, it has become one of the popular tourist attractions with its famous seafood from the Sulu Sea and the various unique Sabahan and Philippinos' handicrafts. Numerous successful events have been held since the beginning of this project at the City Harbour Square, which has now become the focal point to the people of Sandakan for public functions, social events and celebrations.




Currently under construction is the Phase 2 which consists of 68 units of 3 and 4-storey shop offices, targeted for completion by the first half of 2009.




Construction works for Phase 3 and 4 is currently ongoing, which comprises a 5-storey shopping mall, a 240-room hotel and a Convention Centre within a 26-storey block - all of which is targeted for completion by the end of 2010. The developer, ICSD Ventures Sdn Bhd, has entered into an agreement with Starwood Hotels & Resorts Worldwide Inc., a leading hospitality and leisure group, where Starwood will manage the proposed hotel at Sandakan Harbour Square under the 'Four Points by Sheraton' brand.







Asia Pacific Property Awards 2009




The inaugural International Property Awards (www.propertyawards.net) were presented in 1995. To date, the International Property Awards had established themselves as the premier programme recognising excellence in the real estate field.




Entries were judged by a panel of professionals whose collective knowledge of the property industry is second to none and unsurpassed by any other property awards. Chaired by Eric Pickles, Chairman of the Conservative Party, this year's Judges included Ben Wood, Industry Head, Property Markets of Google UK; Peter Bolton King, Group Chief Executive of the National Federation of Property Professionals; Imtiaz Farookhi, Chief Executive of the National House Building Council; Christopher Hall, President Elect of FIABCI; Wilhelm Harnish, Master Builders of Australia (MBA); Thijis Stoffer, International Consortium of Real Estate Agents Association (ICREA); Helen Shield, Editor-in-Chief of International Homes magazine and Gillian Farr, Head of Design of Laura Ashley Home.




The Award criteria are based on the development's location, concept and finishing, security, sustainability, innovations as well as marketing.




There are up to 3 winners in the Commercial Redevelopment category. During the Awards Presentation ceremony in July 2009, the Awards Organiser will announce the 5-star award (highest scoring company, above 75 per cent of the total score) while the remaining 2 winners will be eligible for 4-star awards (scored above 60 per cent of the total score).





This information is provided by RNS
The company news service from the London Stock Exchange

END