HONG KONG and BELLINGHAM, Wash., Oct. 4, 2007 (PRIME NEWSWIRE) -- Asia Properties, Inc. (API) (Pink Sheets:ASPZ) announced today that it has moved its Asian office to Hong Kong.
Daniel McKinney, API's CEO, commented, "The move makes a lot of sense for the Company. Hong Kong is the center of the finance and business world in Asia. The pool of talent and resources here is unparalleled in the region and we can focus on the booming China real estate market as well as our core investment in the Philippine islands, which is less than two hours away by air. We have been offered a number of interesting deals in the region over the past few years and our presence right here on the scene will give us a better ability to examine future offers and take advantage of them quickly. Furthermore, I grew up in Hong Kong, speak Cantonese, and enjoy permanent resident status here."
API is taking a floor of a building in the Wanchai District of Hong Kong Island, and will hire all the necessary staff to run its Asian and worldwide operations. Please see our website for our new office contact details.
The Company confirmed on October 1st that it has signed a Letter of Intent to acquire an existing and profitable resort property in China, and the new HK office will support further China acquisitions and resort sites around the region.
About Asia Properties, Inc.: Asia Properties, Inc. was established to develop 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. 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 dmckinney@asiaprop.com or (http://www.asiaprop.com). For Investor Relations, call Dennis Burns. Tel 567-237-4132 email: dennyburns@stealthpost.com
The Asia Properties, Inc. logo is available at http://www.primezone.com/newsroom/prs/?pkgid=1733
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.