BELLINGHAM, Wash., June 25, 2007 (PRIME NEWSWIRE) -- Asia Properties, Inc. or "API" (Pink Sheets:ASPZ) today announced the attendance of its CEO, Daniel McKinney, at the 2nd Philippine Investment Conference.
"API is pleased to witness the remarkable recent achievements by the Arroyo Administration in their continuous development of the Philippine economy. This administration has delivered 26 consecutive quarters of GDP growth, with the most recent Q1, 2007 at 6.9%. With the current growth fundamentals in place and a US$20 billion infrastructure commitment by the government over next three years, we have selected the Philippines as API's main investment focus," said McKinney.
The 'invitation only' conference was held from June 21-22 at the Mactan Shangri-La Hotel in Cebu, Philippines, which was the site of the 12th ASEAN Summit in 2006. The investment conference brings together the leading government ministers, businessmen and foreign investors in this unique two-day meeting. President Arroyo delivered the opening keynote speech along with her Finance Secretary, Margarito Teves. API's corporate attorney in Philippines, Jerry Banares, who also attended the conference, represents the Arroyo Administration as the Administration's attorney.
API is currently negotiating to acquire the majority of a stunning tropical island and create a new tourist destination with numerous four, five and six star resorts with major international hotel brands managing the resorts. Our planned acquisition in the Philippines will be the largest investment and single most important transaction in the history of API.
About Asia Properties, Inc.: Asia Properties, Inc. was established to invest in resorts and prime real estate in Thailand and Southeast Asia. Asia Properties currently operates as the only listed U.S. public company focusing on S.E. Asian real estate investments, where investors can invest in Asian real estate and hold the investment in the form of a security trading on a U.S. securities market.
The Asia Properties, Inc. company logo is available at: http://www.primezone.com/newsroom/prs/?pkgid=1733
For up to date corporate information about Asia Properties, Inc. contact Daniel McKinney at (360) 392-2841 or http://www.asiaprop.com. For Phuket property inquiries contact: My Trusted House, email: thailand@mytrustedhouse.com. Tel +662-630-4795
Statements, which are not historical facts, are forward-looking statements. The Company, through its management makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessary estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors, factors which could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements.