1 November 2023

Aseana Properties Limited

("Aseana" or the "Company")

Asset sale update

Aseana Properties Limited (LSE: ASPL), a property developer in Malaysia, listed on the Main Market of the London Stock Exchange, announces that further to the announcement of 12 May 2023 (i) in respect of the conditional agreement to sell the 32 unsold residences at The RuMa Hotel & Residences in Kuala Lumpur, a MYR 3.6 million deposit was received and completion is required to take place by no later than 22 November 2023, and (ii) in respect of the remaining 25 unsold residences the relevant sale and purchase agreement has been terminated because the deposit was not received by the deadline of 31 October 2023.

Further to the announcement of 30 June 2023, progress continues to be made on the sale of the Sandakan hotel asset and the Harbour Mall Sandakan and completion is subject to receipt of the outstanding first and second tranche payments and regulatory approval as required. 

For further information:

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 which is part of UK law by virtue of the European Union (withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.