Asiapac Capital Services Inc.
AsiaPac Capital Services to Acquire Rodeo Drive Logistics
Asiapac Capital Services Inc. / Acquisition 26.03.2010 15:41 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 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@asiapaccapital.ca 26.03.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de ---------------------------------------------------------------------------
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