ARCHIVE DATE EXTRACTS SOURCE 21
November 2008 Real-estate
Developer Finds Foreign Partners VietnNamNet
Bridge 14
October 2008 Groundbreaking
Ceremony to launch Vietnam's Integrated,
World-Class Healthcare Park Healthcare
News 29
April 2008 Aseana
Properties remains optimistic about real
estate in Vietnam, Malaysia AFX
News 29
April 2008 Aseana
Properties FY Net Pretax Loss
$1.2M>ASPL.LN Aseana
Properties Tuesday reported a net pretax
loss of $1.2m in the period from Sep. 22,
2006 to Dec. 31, 2007. Dow Jones Newswire 29
April 2008 Aseana
upbeat despite pre-tax losses Estates
Gazette Online 21
April 2008 InsiderAsia's
model Portfolio - Week 269 The
Edge Daily 15
April 2008 Credit
crunch gives Asian property markets added
sheen AME
Info 11
April 2008 Rehda
wants City Hall to drop underground water
tank plan The
Edge Daily 27
March 2008 Vietnam
First-Quarter GDP Growth Slows as
Construction Slumps Bloomberg 25
March 2008 Aseana
secures development rights to Ho Chi Minh
city site in Vietnam Thomson
Financial 25
March 2008 Aseana
Properties Makes Second Investment in
Vietnam Dow Jones Newswire 20
February 2008 International
developers eye endless opportunities in
Asia Europe
Real Estate 1
February 2008 Good
Morning Vietnam Property
Week (Supplement)
Press Coverage
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The real estate firm Nam Long
Investment Joint Stock Company plans to
announce on Nov. 21
its two foreign strategic shareholders,
Nam Viet and Aseana Properties.
The real estate investment fund Aseana
Properties, which is listed on the London
Stock Exchange and managed by Malaysia 's
real estate developer Ireka Group, has
invested more than 18 million USD in Nam
Long.
Aseana and Nam Viet will assist Nam Long
in project development and financial
management, respectively.
Aseana Properties will also contribute
capital to Nam Long's projects and provide
project management. The two partners will
consider the development of four
residential and office projects in HCM
City.
Aseana Properties Limited (LSE:
ASPL), a leading Asian property developer
on the Official List of the London Stock
Exchange, today announces a Groundbreaking
Ceremony to launch the development of the
International Hi-Tech Healthcare Park
("the Healthcare Park") in the Binh Tan
District of Ho Chi Minh City, Vietnam.
Aseana has a 51% stake in Hoa
Lam-Shangri-La Healthcare Limited
Liability Company ("Hoa Lam-Shangri-La"),
the company undertaking the development of
the Healthcare Park.* Ireka Development
Management Sdn Bhd (a wholly-owned
subsidiary of Malaysia-listed Ireka
Corporation Berhad) has been appointed by
the Board of Aseana, to act as the
Development Manager responsible for the
planning, developing and marketing
activities of the Healthcare Park.
Aseana Properties Ltd. said its
net asset value per share as at
end-December 2007 was $0.95 and added that
it remains optimistic about real estate in
Vietnam, Malaysia.
The Asian property developer investing in
Malaysia and Vietnam posted a pretax loss
of $1.25 million on revenue of $45.18
million for the period from Sept. 22 to
Dec. 31, 2007.
The company said Vietnam continues to
progress steadily despite the current
uncertainties in the international
financial markets.
In Malaysia, in view of the country's
strong economic fundamentals, it is
confident that the local real estate
market will continue to perform well over
2008 and beyond, it added.
Chairman Dato' Mohammed Azlan Bin Hashim
said: "The Group will continue to be
active in Vietnam sourcing new
opportunities and reinforcing business
networks."
Asian property developer Aseana
has reported a pre-tax losses of $1.25m
(£0.62m) in its full year results.
The London Stock Exchange-listed developer
said its net asset value per share as at
the end of December 2007 was $0.95
(£0.47).
The company, which invests in Malaysia and
Vietnam, reported revenue of $45.18m
(£22.7m) in the period and says it
remains optimistic about property in the
Asian countries.
Around 46% of the $162m (£81.5m)
raised by the company when it listed on
the Stock Exchange in April last year has
been invested, and the remainder will go
into a number of projects in Vietnam in
2008.
The Group's overall portfolio of
investments today includes 10 projects in
the cities of Kuala Lumpur, Kota Kinabalu
and Sandakan in Malaysia, and Ho Chi Minh
City and Danang in Vietnam totalling $388m
(£195.4m) in gross development value.
Buying Ireka Corp
We are buying 12,000 shares of Ireka Corp
at last Friday's closing price of RM1.02.
Ireka's share price has fallen 46% from a
high of RM1.90 last August to just RM1.02,
due to the prevailing weak sentiment for
small caps. At current levels, its shares
are attractively priced with minimal
downside risks, and offer good value for
longer-term investors.
Ireka Corp is a property and construction
player with a different business model.
Over the past year, the company has
quietly undertaken a major restructuring
exercise that has unlocked substantial
value and created an asset-light balance
sheet with recurring income streams. The
company has a steady stream of sustainable
earnings, balanced with cyclical
construction profits.
From its 19.6%-owned London listed
property fund, Aseana Properties Ltd
(ASPL), Ireka will earn annual fees from
managing its US$250 million assets, plus
dividends and upside from performance
fees. ASPL has a large war chest for
future investments in Malaysia and
Vietnam.
Mid East investors poised as
senior Singapore minister highlights
performance of financial services sector
& points towards sustainable growth
during opening ceremony of Cityscape Asia
2008...
Platinum sponsors of Cityscape Asia are
CityCenter, the urban resort destination
on The Strip in Las Vegas developed by MGM
Mirage opening in November 2009; and
Limitless, a Dubai World company, which is
carrying out major projects in Malaysia,
India, Vietnam and Russia as well as Saudi
Arabia and the United Arab Emirates. Gold
sponsors are Aseana Properties, a London
Stock Exchange company focused on property
development in Malaysia and Vietnam.
The Real Estate and Housing
Developers Association (Rehda) of Kuala
Lumpur wants City Hall to drop its plan to
make it mandatory for property developers
to construct underground water tanks for
rainwater storage at residential and
commercial properties...
Lim Ech Chan, the chief operating officer
of Ireka Development Management Sdn Bhd,
managers of Aseana Properties Ltd, said
costing and space constraints will be a
major factor to consider.
"The proposal needs to be practical. There
are scores of issues to be looked into, so
any decision by City Hall can't be made ad
hoc," said Lim.
"Constructing underground water tanks will
certainly push up the price of each unit,"
he said.
Vietnam's economic growth rate
slowed in the first quarter, the
government estimated, as industrial and
construction output were hurt by rising
prices amid the highest inflation in more
than a decade.
...
Vietnam's 2007 accession to the World
Trade Organization ``has made Ho Chi Minh
City the spotlight of multinationals,''
said Aseana Properties Ltd., which is
developing a resort hotel in central
Vietnam and an office tower in Ho Chi Minh
City, in a statement this week to the
London Stock Exchange
Aseana Properties ltd said it has
secured development rights for a
city-centre site in Ho Chi Minh City,
Vietnam.
The Asian property developer has paid a
deposit of about 5 mln usd and a
contribution to the Fund of Infrastructure
Development of District 1 of about 640,000
usd to the People's Committee of District
1, Ho Chi Minh City to secure the
development rights. The development, to be
named the Wall Street Centre, is estimated
to have a gross development cost of about
106 mln usd.
Development approvals from the appropriate
authorities for the project are currently
expected to be obtained in the third
quarter of 2008, Aseana Properties said in
a statement.
Aseana Properties Limited, an
Asian property developer, Tuesday said it
has paid a deposit of approximately $5m
and a contribution to the Fund of
Infrastructure Development of District 1
of approximately $640,000 to the People's
Committee of District 1, Ho Chi Minh City
to secure the development rights of a
prime, city-centre site in Ho Chi Minh
City, Vietnam.
The development, to be named the Wall
Street Centre, is located on approximately
4.500 sq m in District 1 of Ho Chi Minh
City. Aseana will undertake this
development jointly with Binh Duong
Corporation, a Vietnam property
development company, of which Aseana will
own 65% of the venture.
Middle East and international
investors and developers are turning their
sights to the "endless opportunities" in
Asia, say the organizers of the world's
biggest business-to-business real estate
event brand...
A further perspective is provided by Gold
sponsor Aseana Properties, a company
listed on the London Stock Exchange and
focusing on property development
opportunities in Malaysia and Vietnam,
with approximately $250 million of assets
under management.
Late last year Aseana Properties announced
its first acquisition in Vietnam with the
purchase of 202,800 square metres of
seafront development land. The estimated
total development value of the project is
$150 million. The project will include a
luxury hotel and resort-themed residences
comprising a condominium tower and other
facilities such as a conference centre and
recreational clubs.
Vietnam's economic boom has excited
cross-border investors. Claer Barrett
reports from Ho Chi Minh City on how to
crack the world's most difficult property
market...
"It's not just one-way traffic," says
Raymond Chin, country head of AIM-listed
fund Aseana Properties, which raised
£83m ($162m) at its launch in April
2007. "There are plenty of local partners
who have been ripped off by foreign
developers. Business relationships work on
trust here, and the Vietnamese do not
trust people easily. You have to be
patient."
Vietnam: Tourism's Next Wave
Aseana Properties, a $250m (£128m)
AIM-listed fund that focuses on Vietnamese
development, bought 18,840 sq ft (202,800
sq m) of beachfront land on Danang's China
Beach at the close of 2007.
The planned $150m (£77m) resort will
feature a 40-storey beachfront tower.
Aseana is developing the scheme in a joint
venture with Nam Khang Company
Corporation, and is marketing the resort
at South Asian and European tourists.
