Monday January 17, 10:46 pm Eastern Time
Company Press Release
Asian Star Development, Inc., to Acquire Existing Natural Gas Facilities in the State of Kelantan, Malaysia, and Will Build and Operate a New Malaysian Super Port
HONG KONG--(BUSINESS WIRE)--Jan. 18, 2000--Asian Star Development, Inc., (NASDAQ OTC:ASTV - news) is pleased to announce the signing of a letter of intent with Prima Sukma Sdn. Bhd., a Malaysian Company, to acquire an existing LPG Cylinder Manufacturing Plant and LPG Bottling Plant in the State of Kelantan, Malaysia.
Asian Star also plans to build and operate a New Intelligent Sea Port in Kelantan, Malaysia to service associated Natural Gas and Oil industries with full Marine facilities.
Stephen Chow, President of Asian Star stated, ''We are very excited with the proposed acquisitions and are honoured to have been chosen to build and operate the Intelligent Sea Port in Kelantan, as it will be a monumental project that Asian Star, the State of Kelantan, and the Government of Malaysia can all be proud of.''
Mr. Chow further stated that the parties planned to sign all relevant contracts on January 25th, 2000 in Kota Bharu, Kelantan. A signing ceremony will be held with the Government of Kelantan, with Government Officials be present to show their support. Further details of the projects will be released over the next few weeks.
Asian Star is engaged in a number of business projects in Hong Kong and China and has a mission to develop into a major Asian property development, entertainment, technology, sports and recreation company. The Company intends to pursue its goals by capitalizing on business opportunities through joint ventures and/or strategic alliances with various municipal authorities in China, Hong Kong, and South East Asia. Asian Star is approximately 20% owned by a subsidiary of New World Development of Hong Kong.
To receive further corporate information, contact:
Investor Relations: 1-415-566-2503 / 1-800-488-7151 or visit www.asianstardev.com.
Hong Kong: Stephen Chow, President, Asian Star Development, Inc.: 011-852-2721-0936 or e-mail: info@asianstardev.com.
The above statements in regard to Asian Star Development, Inc. which are not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including Asian Star Development, Inc.'s beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and are based on information available to the parties as of such date. It is important to note that actual outcome and the actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as technological, legislative, corporate and marketplace changes.
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Contact:
Asian Star Development, Inc.
Stephen Chow, 011-852-2721-0936
info@asianstardev.com.
Investor Relations: 415/566-2503 or 800/488-7151
www.asianstardev.com. |
