BELLINGHAM, Wash. and HONG KONG, Aug. 12, 2008 (PRIME NEWSWIRE) -- Asia Properties, Inc. (API) (Pink Sheets:ASPZ) announced today that it has hired a senior financial controller to oversee all accounting and reporting requirements as the company seeks fully reporting status.
"We are very fortunate to have retained Mrs. Sim Mooi Leung, (CPA in 1985) who will start work with the Company on September 1, 2008. Mrs. Sim, a permanent resident of Hong Kong, has a wealth of experience in financial controls, budget forecasting, financial modeling and managing and reporting for large public companies here in Asia. Our goal is to get our consolidated accounts up to date as soon as possible and become fully reporting," said CEO, Daniel Mckinney.
Mrs. Sim was responsible for all general accounting, reporting, government management, as well as the financial forecasts for the 30 year franchise of the Western Harbour Tunnel in Hong Kong in the mid 90s. She has held positions in banks, accounting firms and various public companies during her career.
About Asia Properties, Inc.: Asia Properties, Inc. was established to develop resorts and prime real estate in Southeast Asia. Asia Properties currently operates as the only listed U.S. public company focusing on S.E. Asian real estate investments. API is a Nevada corporation and trades on the Pink Sheets under the symbol "ASPZ." There are currently 39,220,112 fully diluted shares consisting of 16,672,740 free trading and 22,462,376 restricted. The transfer agent is Computershare, Inc. of Golden, Colorado.
For up to date corporate information about Asia Properties, Inc. contact Daniel McKinney, email: dmckinney@asiaprop.com or (http://www.asiaprop.com). For Investor Relations, call Dennis Burns. Tel 419-923-5952, email: denny@nvestrain.com www.nvestrain.com
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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.