TORONTO, Nov. 11, 2011 /CNW/ - Sunwah International Limited (TSX: SWH) ("Sunwah International" or the "Company") will be releasing its
unaudited financial statements for the three months ended September 30,
2011 on or before Wednesday, December 14, 2011.
For the fiscal year on or after January 1, 2011, Canadian publicly
listed entities are requested to prepare their financial statements in
accordance with International Financial Reporting Standards (IFRS).
The three months ended September 30, 2011 is Sunwah International's
first reporting period under IFRS. To accommodate the IFRS transition
from Canadian generally accepted accounting principles to IFRS, the OSC
extended the filing deadline for the first interim financial report
filed under IFRS by 30 days. As a result, SWH has until December 14,
2011 to file its financial statements and accompanying management
discussion and analysis for the three month period ended September 30,
Please be advised that Sunwah Kingsway Capital Holdings Limited (SEHK:
00188), a major subsidiary of Sunwah International, filed a price
sensitive information announcement regarding its unaudited first
quarter fiscal 2012 results. This press release is available at: http://www.equitynet.com.hk/swkingsway under the heading "Announcement".
About Sunwah International Limited
Sunwah International is a strategically positioned asset-based financial
services provider, linking the global investment community with the
China's high growth economy. The Group is now positioned into three
integrated divisions: Capital Markets Group, consisting of brokerage
and financial services, including investment banking; Strategic
Investment Group, a merchant bank focused on mining and natural
resources; and an Asset Management Group specializing in private equity
funds. The Group's primary subsidiary, Sunwah Kingsway Capital Holdings
Limited ("SWK"), is based in Hong Kong and listed on The Stock Exchange
of Hong Kong. The SWK group comprises the Group's primary operating
subsidiaries and is licensed to provide a range of financial services.
The Group 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, Sunwah International is positioned as a middle tier
provider of financial services in these sectors and an opportunistic
investor in these and related sectors. The Group's strategy is to use
investment activities strategically to generate advisory services
revenue while creating value for its shareholders through asset
Leveraging a 20-year track record and significant relationships
throughout Asia, Sunwah International continues to operate as a China
focused multi-discipline asset based financial services firm, with a
focus on natural resources, infrastructure and real estate.
Founded in 1990, Sunwah International is listed on the main board of the
Toronto Stock Exchange under the symbol SWH.
For more information on Sunwah International's core business and new
strategic direction, please visit the Company's website at www.sunwahinternational.com.
FORWARD-LOOKING (SAFE HARBOUR) STATEMENTS
This press release contains forward-looking statements that are based on
the beliefs of Management and reflect the Group's current
expectations. In certain cases, forward-looking information can be
identified by the use of words such as "estimate", "project", "belief",
"anticipate", "intend", "expect", "plan", "predict", "may", "should",
"will", or variations of such words and phrases or state that certain
actions, events or results "may", "could", "would", "might" or "will be
taken", "occur" or "be achieved". 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.
SOURCE Sunwah International Limited
For further information:
Gary Quedado, Sunwah International Group, (416) 861-3099 Ext.0238, firstname.lastname@example.org