Aseana Properties Limited Disposal and Publication of Investor Update (9951I)
June 23 2017 - 3:22AM
UK Regulatory
TIDMASPL
RNS Number : 9951I
Aseana Properties Limited
23 June 2017
Aseana Properties Limited
("Aseana")
Sale of Land at International Healthcare Park in Ho Chi Minh
City, Vietnam
and
Publication of Quarterly Investor Update
Aseana Properties Limited (LSE: ASPL), a property developer in
Malaysia and Vietnam listed on the Main Market of the London Stock
Exchange, announces that its 72.35% owned subsidiary, Hoa
Lam-Shangri-la Healthcare Limited Liability Company ("HLSL"), has
completed the sale of a plot of 1.23 hectares of land at
International Healthcare Park ("IHP"), through the sale of its 100
per cent stake in HLSL 5 Limited Liability Company ("HLSL 5") to
Tien Phat Consultancy Investment Company Limited, for a total
consideration of US$5.47 million.
In addition, HLSL has entered into a conditional sale agreement
with Tri Hanh Consultancy Company Limited to dispose of HLSL's 100
per cent stake in HLSL 6 Limited Liability Company ("HLSL 6") for a
total consideration of US$7.73 million. HLSL 6 holds a 1.19 hectare
plot of land at IHP. The completion of this transaction is subject
to approval from the local authorities, which is expected by the
end of Q3 2017.
Aseana will record a gain of approximately US$1.21 million for
HLSL 5 and upon completion, US$3.80 million for HLSL 6. The total
sale consideration for represents a 21.6% premium for HLSL 5 and a
40.5% premium for HLSL 6 compared to the appraised market value of
the land. The proceeds from these divestments will be used as
working capital and to repay bank borrowings at IHP. These
transactions are part of Aseana's strategy to realise assets and
reduce gearing at the Group level.
The sale of these two plots of land brings the total number of
plots divested at IHP to seven. The remaining twelve plots of land,
measuring 11.29 hectares, have a total appraised market value of
approximately US$37.9 million. Significant marketing efforts are
currently underway by the Aseana's Development Manager to dispose
of these remaining plots.
Separately, Aseana has issued its Quarterly Investor Update for
the three-month period to 31 March 2017, a copy of which can be
obtained from Aseana's website at:
http://www.aseanaproperties.com/quarterly.htm.
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 / Liz Yong (Corporate
Finance)
Sam Greatrex (Sales)
Tavistock Tel: 020 7920 3150
Jeremy Carey / James Verstringhe Email: jcarey@tavistock.co.uk
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 50 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 company news service from the London Stock Exchange
END
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