London-listed Aseana Properties’ net asset value a share inched up by 0.8% to $0.965 (£0.608) in the first quarter of 2012, helped by the weakening of the US dollar against the Malaysian ringgit.
Aseana Properties, which invests in property in Malaysia and Vietnam, posted a loss of $1.8m for the quarter. Sales of completed properties in its SENI Mont’ Kiara project in Kuala Lumpur brought in revenues of $7.47m, with 79% of the development sold by the end of March 2012.
The fund is currently in negotiations with international tenants for its Harbour Mall development in Sandekan, Borneo, including The Body Shop and Levi’s. Construction was completed in March 2012.
Aseana Properties typically invests in development projects at a pre-construction stage.
