HONG KONG and BELLINGHAM, Wash., Feb. 25, 2008 (PRIME NEWSWIRE) -- Asia Properties, Inc. (API) (Pink Sheets:ASPZ) announced today that it has completed its audited financials for 2006.
Daniel S. McKinney, CEO, said, "We are pleased to announce that we have taken another step closer to becoming a fully reporting company. On January 3, 2008, we announced the appointment of a new SEC auditing firm; JTC Fair Song, based in China and Hong Kong. We are now working on our2007 statements, which we hope will be finalized by the end of March. For the past 7 months API has been working diligently towards become a fully reporting company and to move the trading of our shares off the Pink Sheets and onto a listed exchange," added McKinney.
Mr. McKinney went on to say, "I am most excited about the developments that have come about recently for Asia Properties. Firstly, the acquisitions of Swiss Garden and hotel development land in Guangzhou, China. Secondly, the Letter of Intent for 150 acres of a new central business district development in Nanning China, and the tropical island property in the Philippines, which, we believe, will drive the growth of our business for many years."
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 39,115,112 fully diluted shares consisting of 16,757,736 free trading and 22,357,376 restricted. The transfer agent is Computershare, Inc. of Golden, Colorado.
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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.