Aseana Properties Ltd. (ASPL)

$ 0.33
   
  • Change Today:
    $-0.01
  • 52 Week High: $0.4
  • 52 Week Low: $0.3
  • Currency: US Dollars
  • Shares Issued: 198.69m
  • Volume: 0
  • Market Cap: $65.57m
  • RiskGrade: 21

Aseana post pre-tax losses despite increased revenues

By Iain Gilbert

Date: Friday 25 Aug 2017

LONDON (ShareCast) - (ShareCast News) - Aseana Properties revenue rose 82% in the six months leading up to 30 June, from $3.9m in 2016 to $9.3m this year.
On the other hand, the Malaysian and Vietnamese property investors posted a pre-tax loss of $3.3m at the half way point of the year, a disappointing turnaround after the $29.2m profit it reported a year ago.

The group said the reason for the loss was predominantly due to operating losses and financing costs at its City International Hospital, Four Points by Sheraton and Harbour Mall Sandakan properties.

Net asset value also dropped, slipping to $181.7m from $190.5m.

"The performance of the Group has been encouraging despite challenges in sectors of the market that the Company is invested in. Looking ahead, the Board together with the Manager remain focused on realising the remaining assets in a controlled, orderly and timely manner. Concerted efforts are in place to ensure that the Group's portfolio progresses in tandem with the growth and recovery of both the economies and property markets in Malaysia and Vietnam," said Mohammed Azlan Hashim, chairman of Aseana.

As of 0950 BST, shares had seen no change at $0.54.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

ASPL Market Data

Currency US Dollars
Share Price $ 0.33
Change Today $ -0.01
% Change -2.94 %
52 Week High $0.4
52 Week Low $0.3
Volume 0
Shares Issued 198.69m
Market Cap $65.57m
RiskGrade 21

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