updated 5/31/2011 9:16:51 AM ET 2011-05-31T13:16:51

HONG KONG and BELLINGHAM, Wash., May 31, 2011 (GLOBE NEWSWIRE) -- Asia Properties, Inc. (API) (OTCQB:ASPZ) today confirmed its appointment of Gilbert Loke as Chief Financial Officer of the Company.

Gilbert Loke, age 55, our Chief Financial Officer, trained and qualified with Hacker Young, Chartered Accountants, one of the large accounting firms based in London, England between 1980 and 1988. His extensive experience in auditing, accounting and SOX compliance has prompted him to specialize in risk management and internal controls serving small to medium-sized companies assisting them to design, develop and deploy various risk and business controls systems. He is a regular traveler between Hong Kong and China since 2004, which has provided him with extensive exposures to China businesses and is fluent in Mandarin, Cantonese and English.

Gilbert earned his MBA degree from Bulacan State University, Philippines, and earned his professional accountancy qualifications from the Association of Chartered Certified Accountants, the Association of International Accountants and Hong Kong Institute of Certified Public Accountants. He also earned other professional qualification from the Hong Kong Institute of Chartered Secretaries, Institute of Chartered Secretaries & Administrators, Financial Planning Association of Malaysia as Certified Financial Planner and Association of Taxation Institute Hong Kong.

Daniel McKinney, CEO of Sino Fibre, commented, "I am most pleased that Gilbert has joined our senior management team and his first assignment will be to help complete the due diligence of several potential acquisitions and negotiations that the company is undertaking. His thirty years of accountant experience and knowledge will be invaluable to our growth and business development." 

About Asia Properties, Inc.: Asia Properties, Inc. was established to develop resorts and prime real estate in Southeast Asia. API is a Nevada corporation and trades on the OTCQB under the symbol "ASPZ." There are currently 35,474,362 fully diluted shares consisting of 11,965,626 restricted and 23,508,736 free trading. The transfer agent is Transfer Online, Inc. of Portland, Oregon.

The Asia Properties, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=1733


This press release contains forward-looking statements based on management's expectations and beliefs, and may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. Readers are cautioned not to place undue reliance on the forward-looking statements made in this press release.

CONTACT: Investor Relations:
         Dennis Burns
         Tel: 419-951-4842
         denny@nvestrain.com
         www.asiaprop.com

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

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