BELLINGHAM, Wash., Aug. 7, 2007 (PRIME NEWSWIRE) -- Asia Properties, Inc. or "API" (Pink Sheets:ASPZ) today confirmed its investment strategy targeting Philippine island acquisitions for the next 24 months.
CEO Daniel Mckinney, who recently attended the 2nd Philippine Investment Conference in Cebu, Philippines in June this year, echoed the words of the Philippine President, Gloria Macapagal-Arroyo, by saying, "There has never been a better time to invest in the Philippines, as the country offers one of the best values for the money in Asia for investors." Arroyo went on to say at the conference, "The government is investing billions, often in partnership with the private sector in new bridges, roads, ports and other modern infrastructure (which will) in turn attract more foreign investments."
As a result, Mckinney added: "Asia Properties is rolling out an aggressive acquisition program in Philippines resort sites over the next 6-12 months. API is delighted to be participating in the Philippine version of the Asian property investment boom that is currently underway."
Mr. Mckinney went on to say, "Asia Properties has now secured one of the most beautiful beach fronts I have ever seen. The beaches are fine white sand, the water is clear blue and this site is perfect to build the most exotic resort destination in the south pacific. We have been speaking with some of the world's most exclusive hotel operators to manage the various resorts."
The Company announced on July 30th that it has signed an exclusive option agreement to buy the majority of beach front property on an island 20 kilometers offshore from Southern Luzon, Philippines.
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. API is a Nevada corporation and trades on the pink sheets under the symbol "ASPZ." There are currently 39,427,112 fully diluted shares consisting of 16,672,740 free trading and 22,754,372 restricted. The transfer agent is Computershare, Inc. of Golden, Colorado.
For up to date corporate information about Asia Properties, Inc. contact Daniel Mckinney (360) 392-2841 or (http://www.asiaprop.com) For Investor Relations, call Dennis Burns. Tel 419) 989-4247, email: dennyburns@stealthpost.com
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.
The Asia Properties, Inc. company logo is available at: http://www.primezone.com/newsroom/prs/?pkgid=1733