DGAP-News: AsiaPac Capital Services to Acquire Rodeo Drive Logistics
(firmenpresse) - Asiapac Capital Services Inc. / Acquisition
26.03.2010 15:41
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Toronto, Canada - (For immediate release) - March 26, 2010
AsiaPac Capital Services Ltd.: Deutsche Börse symbol: 5AP. (www
.asiapaccapital.ca), has reached an Agreement in principal to acquire 100%
of Rodeo Drive Company, a Philippines based logistics company. The
acquisition will be made on an all cash basis, with the deal valued at 22
million PHP, equivalent to approximately $481,000 USD or EUR362,000, and is
being acquired by Greenworld Warehousing and Logistics, a subsidiary of
AsiaPac Cargo.
Rodeo Drive is an import/export and logistics company catering to the
semiconductor export market, more specifically semiconductor components and
supplies. It is located in the Subic Bay Economic Zone, the former U.S.
navy base in the northern Philippines. Its customer base includes Asahi
technologies; Pentax Optical; Yazaki Mfg; Mizuho Packaging; and Zimitsu
Semiconductor Co. amongst others.
Sales for Rodeo Drive were PHP 54 million with a net profit of PHP 2.176
million for the year ending 2009. Sales for 2010 are projected to increase
dramatically based on the recent rebound in the export of electronics
worldwide and are projected to reach PHP 80 million with a net profit of
PHP 6 million, equivalent to EUR9 million and just under EUR100,000
respectively.
AsiaPac will continue to look for expansion opportunities through
acquisition of companies in its core business sectors, which include
logistics, mining, renewable energy and IT solutions.
Mr. Samuel Lee notes; 'Shareholders should note the number of developments
that are bringing positive value to the Company, and the injection of funds
from the previously announced upcoming deal with Interline will allow
AsiaPac to bring many of its pending business projects online in a timely
manner. In short, the long-term outlook for the Company remains very
optimistic.'
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
26.03.2010 15:41 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Datum: 26.03.2010 - 15:41 Uhr
Sprache: Deutsch
News-ID 18171
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