(firmenpresse) - Asiapac Capital Services Inc. / Product Launch
19.03.2010 18:47
Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement.
Toronto, Canada - (For immediate release) - March 19, 2010 AsiaPac Capital Services Ltd.: Deutsche Börse symbol: 5AP. (www .asiapaccapital.ca), has begun the submission process with the Renewable Energy Management Bureau (REMB) of the Philippine Department of Energy to build an approximately 4 Megawatt hydro station on the Talubin River located in Sagada, Mountain Province. This application hasbeen initiated by the Company's renewable energy subsidiary; AsiaPac Green Renewable Energy Corp.
The Company has retained the services of Vergel 3 Consult of Quezon City as the principal consultant and engineer to provide the feasibility study and detailed engineering design work for the project.The 4 megawatt hydro station capacity is based on a preliminary hydrologic study by Vergel 3 Consult, and will be finally determined based on the results of a comprehensive feasibility study.
Company President, Mr. Samuel Lee, advises; 'This is one of several hydro projects that we intend to develop. At this point, there is still additional paperwork and financial undertakings before we will receive official approval for the project, but we are confident that we can meet all of the remaining requirements of the REMB to get a green light for the project.
Hydro power is one of the keystone areas in our renewable energy division, that also encompasses our previously announced Jatropha plantation for the generation of biodiesel. We are also looking at solar and wind power projects in the Philippines.
It is important to note that there are many government incentives to initiate renewable energy projects in the Philippines, as the government is very desirous of reducing its reliance on imported oil and gas products. We believe we are well positioned to move forward with these projects under a favorable investment climate.'
Disclaimer&Safe Harbor Statement: This release may contain certain 'forward-looking statements' with respect to certain of AsiaPac Capital Services Ltd.'s plans, goals and expectations regarding its future financial condition, performance, results, strategy and objectives. Words such as 'anticipates', 'expects', 'intends', 'plans', 'believes', 'seeks', 'estimates', 'may', 'could', 'would', 'might', 'will' and variations of these words or similar expressions are intended to identify forward-looking statements. In addition, any statements that refer to expectations, beliefs, plans, projections, objections, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking statements in this press release are not promises or guarantees of future performance and are subject to risks and uncertainties that could cause AsiaPac Capital Services Ltd.'s actual results to differ materially from those anticipated. AsiaPac Capital Services Ltd. cautions the reader not to place undue reliance upon any such forward-looking statements. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed herein as well as the following: (i) domestic and global economic and business conditions; (ii) market related risks and the performance of financial markets generally; (iii) the policies and actions of regulatory authorities; (iv) the impact of competitive factors; (v) risks and uncertainties associated with future acquisitions or combinations within relevant industries; and (vi) changes in capital, solvency or accounting standards as well as tax and other relevant legislation or regulations in the jurisdictions in which AsiaPac Capital Services Ltd. operates. The actual results that AsiaPac Capital Services Ltd. achieves may differ materially from any forward-looking statements which are based on management's beliefs and opinions at the time the statements are made. AsiaPac Capital Services Ltd. does not undertake any obligation to update forward-looking statements should circumstances or management's beliefs or opinions change.
For further information please contact: AsiaPac Capital Services Ltd. 557A Eglinton Ave West, Toronto, Canada M5N 1B5 Phone: 1-416-800-2080 Email: info(at)asiapaccapital.ca
19.03.2010 18:47 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
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