March 23, 2020 / 8:44 AM / 11 days ago

BRIEF-Aseana Properties Initiated Cost-Cutting Initiatives To Reflect Reduced Business Levels

March 23 (Reuters) - Aseana Properties Ltd:

* ASEANA PROP LTD - UPDATE ON THE IMPACT OF THE COVID-19 VIRUS

* ASEANA PROPERTIES LTD - INITIATED A NUMBER OF COST-CUTTING INITIATIVES TO REFLECT REDUCED BUSINESS LEVELS

* ASEANA PROPERTIES LTD - DIRECTORS HAVE VOLUNTEERED TO REDUCE THEIR FEES BY 25% FOR NEXT SIX MONTHS.

* ASEANA PROPERTIES LTD - PROGRESS ON ASSET SALES DISCUSSIONS HAS ALSO SLOWED CONSIDERABLY AS BUSINESS CONDITIONS HAVE WORSENED THROUGHOUT ASIA

* ASEANA PROPERTIES LTD - CORPORATE MANAGEMENT OFFICES IN KUALA LUMPUR HAVE BEEN CLOSED

* ASEANA PROPERTIES LTD - IN PROCESS OF CLOSING OUR HOTELS IN BOTH KUALA LUMPUR AND SANDAKAN IN EAST MALAYSIA

* ASEANA PROPERTIES LTD - SHOPPING MALL IN SANDAKAN IS STILL PARTIALLY OPEN

* ASEANA PROPERTIES LTD - AT PRESENT TIME THERE ARE NO CLOSURE REQUIREMENTS IN VIETNAM. Source text for Eikon: Further company coverage:

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