HONG KONG and BELLINGHAM, Wash., Jan. 3, 2008 (PRIME NEWSWIRE) -- Asia Properties, Inc. (API) (Pink Sheets:ASPZ) announced today that it has engaged a new SEC law firm and a new auditor for the Company.
"API is pleased to announce that we have engaged the services of Dietrich & Associates Law Office, based in Los Angeles, California to advise and handle all our SEC filing issues," said API's CEO Daniel McKinney. "This law firm has an excellent reputation with a wealth of experience in dealing with SEC matters and I believe the Company will be well represented by their lawyers," added McKinney.
API also announced the appointment of a new SEC auditing firm: JTC Fair Song, based in Hong Kong. API's CEO commented on this appointment: "We feel that it is most important for our auditing firm to be based near our Hong Kong offices so we can execute timely disclosures of our financials in order to become fully reporting and I believe that JTC is not only capable, but is also committed to serving API in a timely and professional manner."
"For the past 6 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. By retaining these two professional firms, the Company has taken two major steps forward in achieving this goal," added McKinney.
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 39,115,112 fully diluted shares consisting of 16,672,740 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.