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Aseana Properties Ltd - Jersey-based property developer with investments in Malaysia and Vietnam - In the first half of 2022, pretax loss widens to $12.8 million from $1.3 million a year before. Records no revenue for the period, comapred to $516,00 a year before. Net asset value per share amounts to 40 cents at June 30, down from 47 cents at the end of December. Says Covid travel restrictions were lifted in January in Malaysia, but borders did not reopen until April 1. This hit the RuMa Hotel, which has 32% occupancy for the period. Also notes the headwinds of Covid-19 restrictions in China, the economic impact of the Ukraine war, as well as monetary policy tightening across central banks.
‘The company continues to focus on improving operational performance of its assets, increasing their value and actively marketing the assets to potential buyers despite the macro challenges mentioned above and the illiquid nature of the assets,’ says Chair Nick Paris.
Current stock price: $0.20
12-month change: down 35%
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