BELLINGHAM, Wash., Sept. 21, 2006 (PRIMEZONE) -- Asia Properties, Inc. or "API" (Pink Sheets: ASPZ) CEO Daniel McKinney today applauded the recent actions and expressed support for the Council for Democratic Reform "CDR," which through a Coup d'etat on September 19 dismissed the caretaker government of Thaksin Shinawatra.
"API is very pleased to see this change in administration as the Thaksin Government was accused of corruption, conflict of interest, and abuse of power. We see this Coup as a positive change which will engender Thai democracy, which was hijacked by Thaksin and his administration. We are now most encouraged and look forward to a better business climate, friendlier policies towards foreigners and their investments, and a renewed confidence in the Kingdom," said CEO Daniel McKinney.
The company expects that foreign buyers who are currently interested in buying API homes may delay their purchases for a short period (weeks) but that sales will increase with this positive change in power, said McKinney. McKinney was in Phuket with several European based API shareholders showing them the company's properties at the time of the Coup. He added that the situation was calm and stable in Phuket as well as in Bangkok and people were going about their usual business.
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 Southeast 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.
For up-to-date corporate information about Asia Properties, Inc. contact Daniel McKinney at (360) 392-2841 or (http://www.asiaprop.com). For property inquiries contact: Jill Lerlertkul, Phuket Sales Manager. Cell +661-0135136, email: jill@asiaprop.com.
The Asia Properties, Inc. company logo is available at: http://www.primezone.com/newsroom/prs/?pkgid=1733
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