Aseana Properties Limited Update on the Divestment of the Portfolio (7567C)
October 03 2018 - 2:00AM
UK Regulatory
TIDMASPL
RNS Number : 7567C
Aseana Properties Limited
03 October 2018
3 October 2018
Aseana Properties Limited
("Aseana" or the "Company")
Update on Progress of the Divestment of the Portfolio
Aseana Properties Limited (LSE: ASPL), a property developer in
Malaysia and Vietnam listed on the Main Market of the London Stock
Exchange, announces an update on the progress of divestment of the
Company's assets.
SENI Mont' Kiara, Kuala Lumpur
The Development Manager has successfully sold the final unit of
SENI Mont' Kiara with the sale and purchase agreement signed on 26
September 2018. Owned 100.0% by Aseana, SENI is a completed
upmarket condominium development situated on one of the highest
points in Mont' Kiara with a Gross Development Value of
approximately US$324 million. The project consists of two 12-storey
blocks and two 40-storey blocks, comprising 605 residential units.
The majority of units command impressive views of the city skyline
including the 88-storey Petronas Twin Towers and the KL Tower. The
Realisable Net Asset Value ("RNAV") of SENI as at 31 Dec 2017 was
US$9.75 million and the RNAV of SENI at the point of exiting the
project is approximately US$9.85 million.
The RuMa Hotel and Residences, Kuala Lumpur
In addition, The RuMa Hotel and Residences, Kuala Lumpur,
received its Certificate of Completion and Compliance ("CCC") on 28
September 2018 and the handover of the hotel suites and residences
to their purchasers is in progress.
The Development Manager is continuing to use its best effort to
dispose of the other remaining assets of the Company within the
schedule outlined in the previous announcement, with the target
prices for these asset sales being at or around the published RNAV
levels.
Further announcements will be made as soon as there is more
clarity on the progress and timing of these disposals.
For further information:
Aseana Properties Limited Tel: +603 6411 6388
Chan Chee Kian Email: cheekian.chan@ireka.com.my
N+1 Singer Tel: 020 7496 3000
James Maxwell / James Moat (Corporate
Finance)
Sam Greatrex (Sales)
Tavistock Communications Tel: 020 7920 3150
Jeremy Carey / James Verstringhe / Kirsty Email: jeremy.carey@tavistock.co.uk
Allan
Notes to Editors:
London-listed Aseana Properties Limited (LSE: ASPL) is a
property developer investing in Malaysia and Vietnam.
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 51 years of experience in construction
and property development. IDM is responsible for the day-to-day
management of Aseana's property portfolio and the divestment of
existing properties.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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