Asiapac Capital Services Inc.
AsiaPac Capital Services Releases Sales Results for Rodeo Drive Company subsidiary
Asiapac Capital Services Inc. / Key word(s): Miscellaneous 23.02.2011 / 12:30 AsiaPac Capital Services Releases Sales Results for Rodeo Drive Company subsidiary Toronto, Canada - February 22, 2011 AsiaPac Capital Services Ltd.: Deutsche Börse symbol: 5AP. (www .asiapaccapital.ca), is pleased to announce sales results for its Rodeo Drive subsidiary for 2010. Gross sales of Php 379 million were achieved, equating to roughly USD 8.7 million or EUR6.4 million. This is very dramatic increase versus Php 54 million achieved in 2009, and dwarfs initial projections of Php 80 million in sales for the period, based on a strong rebound in the export of electronics worldwide. Net income figures should be available within the next month, as the financial statements are currently being prepared. 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. Rodeo Drive is part of Greenworld Warehousing and Logistics, one of four subsidiaries that represents AsiaPac's Logistics and Freight Forwarding division. Rodeo Drive was acquired in the first quarter of 2010. 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. Suite 3500 Hudson Bay Center No. 2 Bloor Street East Toronto ON M4W 1A8 Email: info@asiapaccapital.ca investor@asiapaccapital.ca End of Corporate News --------------------------------------------------------------------- 23.02.2011 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 113182 23.02.2011
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