Asahi shares mark weekly slide after cyberattack halts production
LONDON - Aseana Properties Limited (LSE:ASPL), a Malaysian property developer listed on the London Stock Exchange, reported a profit after tax of US$2.5 million for the first half of 2025, compared to a US$4.6 million loss in the same period last year.
The company’s financial turnaround was largely driven by a US$7.5 million foreign exchange gain due to the appreciation of the Malaysian Ringgit. Excluding this gain, the company would have posted a loss after tax of US$4.9 million.
Operating revenue increased to US$9.6 million in H1 2025 from US$7.0 million in H1 2024, boosted by higher revenue from The RuMa Hotel and Residences, including the completion of 30 unit sales at The RuMa Residences.
The company’s net asset value rose to US$45.7 million as of June 30, 2025, up from US$41.7 million at the end of 2024, representing US$0.21 per share compared to US$0.24 previously.
Aseana raised US$6.5 million through share issuances during the period. In February, shareholders approved the issuance of 68.19 million new ordinary shares at US$0.08 per share to Neuchatel Investment Holdings Limited, raising US$5.4 million. The company also sold 13.33 million treasury shares at US$0.08 each in March, generating an additional US$1.1 million.
The RuMa Hotel achieved 72% occupancy in H1 2025, up 7% from the prior year, while the Harbour Mall Sandakan maintained 93% occupancy, with total mall revenue up 2% year-on-year.
In June, Aseana secured a facility of up to RM45.2 million from AmBank to settle its defaulted Sandakan loan and partially fund the reopening of the Sandakan Hotel. The loan was fully settled in July 2025.
The company expects to complete the sale of 18 additional units at The RuMa Residences by December 2025, with gross proceeds of approximately US$5.9 million to be used toward redeeming outstanding medium-term notes.
According to the company’s statement, Aseana continues to focus on improving operational performance of its assets and restructuring its debt profile.
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