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.
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, [email protected].