TORONTO, Jan. 13, 2014 /CNW/ – Sunwah International Limited, TSX: SWH
(the “Company”), an Asian based financial services firm, announces that
the Toronto Stock Exchange (“TSX”) has informed the Company that its
common shares are under review in respect of its ability to meet
continued listing requirements, in particular its ability to maintain
the minimum value of public float requirement. Sunwah International’s
shares are currently trading at a significant discount to its net asset
value (NAV).
While the Company’s lowered share price is in part due to a general lack
of liquidity in current capital markets, Sunwah International intends
to address the considerable undervaluation of its shares relative to
its NAV through enhanced marketing efforts and an overall amplified
investor relations program.
Sunwah International has been granted 120 days in which to regain
compliance with the TSX listing requirements pursuant to the TSX’s
Remedial Review Process, which it is working towards through the
implementation of proactive measures to increase liquidity and
awareness of the fundamental strength of the Company.
About Sunwah International Limited
Sunwah International Limited (TSX: SWH) is a strategically positioned
asset-based financial services provider, linking the global investment
community with China’s high growth economy. Founded in 1990 and backed
by prominent Hong Kong based corporation, Sunwah Group, a key element
of the Company’s growth strategy involves identifying and advancing
select, high quality opportunities worldwide that are poised to benefit
from China’s proliferating consumerism as the country’s need for
foreign suppliers of natural resources to support its development
grows. Sunwah International is uniquely positioned to capitalize on
this demand and the global economic changes stemming from this shift,
leveraging a 20-year track record and significant relationships
throughout Asia.
The organization’s primary subsidiary, Sunwah Kingsway Capital Holdings
Limited is based in Hong Kong and listed on The Stock Exchange of Hong
Kong. The Sunwah Kingsway group of companies comprises Sunwah
International’s primary operating subsidiaries and is licensed to
provide a range of financial services. Sunwah International operates
from six offices located in Hong Kong, Beijing, Shanghai, Shenzhen,
Macau and Toronto.
China is widely recognized as an increasingly important player on the
world’s financial stage. As the country continues to grow, its
greatest needs will lie in energy and resources. Following a recent
restructuring, the Company is positioned as a middle tier provider of
financial services in these sectors and an opportunistic investor in
these and related sectors. Sunwah International’s strategy is to use
investment activities strategically to generate advisory services
revenue while creating value for its shareholders through asset
accumulation.
Founded in 1990, the Company is listed on the Toronto Stock Exchange
under the symbol SWH.
Forward-Looking Statements
This press release contains “forward-looking statements” as defined
under applicable Canadian securities laws that are based on the beliefs
of Management and reflect the Group’s current expectations. These
statements include, but are not limited to, statements made concerning
our objectives, our strategies to achieve those objectives, as well as
statements with respect to management’s beliefs, plans, estimates, and
intentions, and similar statements concerning anticipated future
events, results, circumstances, performance or expectations that are
not historical facts. Forward-looking statements generally can be
identified by the use of forward-looking terminology such as “outlook”,
“objective”, “may”, “will”, “expect”, “intend”, “estimate”,
“anticipate”, “believe”, “should”, “plan” or “continue”, or similar
expressions suggesting future outcomes or events. Such forward-looking
statements reflect management’s current beliefs and are based on
information currently available to management. Forward-looking
information involves known and unknown risks, uncertainties and other
factors that may cause actual results, performance or achievements to
be materially different from any future results, performance or
achievements expressed or implied by the forward-looking information.
There can be no assurance that forward-looking information will prove
to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
investors should not place undue reliance on forward-looking
information. Forward-looking information is provided as of the date of
this press release, and the Company assumes no obligation to update or
revise them to reflect new events or circumstances. Except as required by applicable law, management and the board of
directors of the Company undertake no obligation to publicly update or
revise any forward-looking statement, whether as a result of new
information, future events or otherwise.
SOURCE Sunwah International Limited
For further information:
Kristen Humphrey, Sunwah International Group, (416) 888-2323, khumphrey@sunwahinternational.com.