Asia Properties, Inc. (OTCPK:ASPZ) has entered into a sale and purchase agreement to acquire Sino King Management Limited from CHONG SWEE CHAN and LAI Kin To Joseph for $6 million on April 14, 2017. Under the terms of the agreement, Asia Properties, Inc. has issued 600 million restricted common shares at $0.01 per share which will be held in escrow and will be released on closing of the deal. CHONG SWEE CHAN will receive 540 million shares and LAI Kin To Joseph will receive 60 million shares. The deal is subject to approval of shareholders of Asia Properties, Inc. and financial audit of Sino King Management Limited. As of December 29, 2017, the conditions relating to the valuation of assets to be acquired and audit of the financial position has not been completed. The time period for the completion of the transaction is on or before June 18, 2017. Effective August 7, 2017, both Asia Properties, Inc. and Sino King Management Limited have confirmed that due to unforeseen circumstance, the closing date shall be changed to December 31, 2017. Effective December 11, 2017, both Asia Properties, Inc. and Sino King Management Limited have confirmed that due to unforeseen circumstance, the transaction has been postponed until March 31, 2018. Asia Properties, Inc. (OTCPK:ASPZ) cancelled the acquisition of Sino King Management Limited from CHONG SWEE CHAN and LAI Kin To Joseph on June 29, 2018.