Aseana Properties Revises Disposal Schedule For Certain Assets

LONDON (Alliance News) - Asia-focused property developer Aseana Properties Ltd said on Friday ...

Alliance News 11 January, 2019 | 12:02PM
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LONDON (Alliance News) - Asia-focused property developer Aseana Properties Ltd said on Friday that it has revised the timeline for the disposal of three assets assets due to prevailing market conditions.

All three assets were expected to be disposed of in the last quarter of 2018.

The City International Hospital in Vietnam is now expected to be sold in the second quarter of 2019, due to sale negotiations being put on hold.

The China-based healthcare group, which is poised to acquire the asset said it is unable to secure funding to complete the acquisition.

However, negotiations with a Vietnam-based healthcare group to sell the hospital are still progressing.

The Seafront Resort and Residential Development in Malaysia is anticipated to be sold in the fourth quarter of 2019. This is due to the potential buyer ending negotiations due to a change in business sentiment due to the state election results in May 2018, which saw a change in regime.

Finally, the Harbour Mall Sandakan's expected disposal date has been pushed forward to the third quarter of 2019, as discussions with a Malaysia-based buyer were put on hold during the due diligence process, on the grounds of challenging market conditions.

Shares in Aseana Properties were untraded on Friday, last quoted at USD0.53.

By Dayo Laniyan;

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
Aseana Properties Ord 0.50 USD -1.78 -
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