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Share Name Share Symbol Market Type Share ISIN Share Description
Aseana Properties Limited LSE:ASPL London Ordinary Share JE00B1RZDJ41 ORD USD0.05
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 0.32 1,250 00:00:00
Bid Price Offer Price High Price Low Price Open Price
0.30 0.34 0.32 0.32 0.32
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 9.73 -28.66 -13.64 64
Last Trade Time Trade Type Trade Size Trade Price Currency
14:04:08 O 1,250 0.32 USD

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23/2/201910:52Aseana Properties Limited7
26/8/201615:55Aseana Properties Limited124

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DateSubject
01/12/2020
08:20
Aseana Properties Daily Update: Aseana Properties Limited is listed in the Real Estate Investment & Services sector of the London Stock Exchange with ticker ASPL. The last closing price for Aseana Properties was US$0.32.
Aseana Properties Limited has a 4 week average price of US$0.32 and a 12 week average price of US$0.32.
The 1 year high share price is US$0.46 while the 1 year low share price is currently US$0.32.
There are currently 198,691,002 shares in issue and the average daily traded volume is 0 shares. The market capitalisation of Aseana Properties Limited is £63,581,120.64.
14/12/2016
17:02
davebowler: The Company has announced further proposals for a Tender Offer to return USD10,000,500 to shareholders as part of the managed wind down of the company. The Tender Offer will be for up to 13,334,000 shares at a tender price of USD0.75 per Share, equivalent to the net asset value as at 30 September 2016.
24/10/2016
08:29
davebowler: 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.
26/8/2016
15:55
davebowler: 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.
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.
18/5/2012
11:04
davebowler: 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.
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.
15/11/2011
10:24
davebowler: 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.
19/5/2011
08:47
davebowler: 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,
03/5/2011
08:31
davebowler: 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.
27/4/2011
08:28
davebowler: 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.
Aseana Properties share price data is direct from the London Stock Exchange
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