BELLINGHAM, Wash., July 19, 2007 (PRIME NEWSWIRE) -- Asia Properties, Inc. (Pink Sheets:ASPZ) announced today that it has filed financial statements for the second Quarter of 2006.
Daniel S. McKinney, CEO said, "We are pleased to announce that we have taken another step closer to becoming a fully reporting company. Earlier this year we filed audited financial statements for 2005 and for the first quarter of 2006. We have now filed the second quarter of 2006 and are working on the third and fourth Quarters of 2006 statements, as well as first Quarter of 2007, which will be filed as soon as they are finalized. Please see: http://www.pinksheets.com/quote/finance.jsp?symbol=ASPZ It is our goal to be current with our filings by years end, then move to the NASD Bulletin board or apply for another exchange, provided we are able to meet the listing requirements."
Mr. McKinney went on to say, "I am most excited about the developments that have come about recently for Asia Properties. Firstly, the signing of the agreement with My Trusted House to sell the remaining villas in our Baan Naiyang Resort in Phuket, Thailand. Secondly, the US$10 million exclusive funding agreement with Quam Securities Group to fund our acquisition of the tropical island property in the Philippines, which 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 39,427,112 fully diluted shares consisting of 16,672,740 free trading and 22,754,372 restricted. The transfer agent is Computershare, Inc. of Golden, Colorado.
The Asia Properties, Inc. logo is available at http://www.primezone.com/newsroom/prs/?pkgid=1733
About Quam Securities:
Quam Securities Group is a tier-one brokerage firm in Hong Kong and a division of Quam Limited, a holding company of financial and wealth management. Quam is listed on the Hong Kong Stock Exchange (Stock code: 952) Please see http://www.quamlimited.com
For up to date corporate information about Asia Properties, Inc. contact Daniel McKinney (360) 392-2841 or (http://www.asiaprop.com) For property inquiries contact My Trusted House, email: thailand@mytrustedhouse.com. Tel: +662-630-4795
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.