AFBR, news..one that merits DD..
LOS ANGELES--(BUSINESS WIRE)--July 13, 2001--Asia Fiber Holdings
Limited (OTCBB:AFBR) today announced that it has launched its official
company Web site that can be viewed on the World Wide Web at
www.asiafiberholdings.com.
The Company's Web site includes a comprehensive overview of Asia
Fiber Holdings Limited. The easy-to-navigate site supplies the public
with significant information respecting the Company's history,
structure, operations, facilities, products, management and goals.
Additionally, the Company's Web site provides links to its SEC
filings, Press Releases and stock market quotes. The Company
encourages the public to visit Asia Fiber Holdings Limited via the
World Wide Web at www.asiafiberholdings.com.
Ching Lung Po, chairman of Asia Fiber Holdings Limited, stated,
"The launching of our presence on the World Wide Web signifies that we
have reached a principal milestone in achieving our goal to thoroughly
educate the public about Asia Fiber Holdings Limited."
Ching Lung Po added, "The Company is committed to a successful
market awareness campaign and expects its Web site to serve as a
medium which enables the public to have a direct connection to the
company."
About the Company
Asia Fiber Holdings Limited (OTCBB:AFBR), a Delaware corporation,
is the controlling shareholder of an operating company based in the
People's Republic of China (PRC), which manufactures and distributes
polyester fiber for use in the apparel and textile industries. Its
applications include everything from socks, leisure-wear and lingerie
to carpet pile, tire cord and seat belts.
For the calendar year ended Dec. 31, 2000, the Company's auditors,
Ernst & Young, reported that Asia Fiber Holdings Limited generated
sales of US$65,093,000 and retained a net income of US$3,754,000,
which translates into US$0.15 earnings per share in 2000.
Form 4 Filing
Ching Lung Po, chairman of Asia Fiber Holdings Limited, is also
70% owner of Megastone Development Limited. On June 12, 2001, Necton
Services Limited purchased from Megastone Development Limited, in an
affiliate-related transaction, 560,000 shares of restricted stock of
Asia Fiber Holdings at US$1.60 per share. The shares purchased by
Necton Services Limited are restricted pursuant to Rule 144 of the
Securities Act of 1933, beginning on June 12, 2001.
Statements made in this news release concerning predictions of
performance and the Company's plans and objectives are not historic
facts and constitute forward-looking statements made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. Such statements involve important risks and uncertainties
that may cause results to differ materially from those set forth in
this news release. All forward-looking statements are subject to the
successful completion of actions described in the news release.
Readers should carefully review the Company and publicly available
filings thoroughly with their registered investment advisor or
registered broker.
--30--mtb/la* rj/la
CONTACT: Asia Fiber Holdings Limited
Bernard Chan, 852-2882-7390
KEYWORD: CALIFORNIA CHINA ASIA PACIFIC INTERNATIONAL
INDUSTRY KEYWORD: APPAREL/TEXTILES INTERNET MANUFACTURING |
