ASPZ Asia Properties Inc (PK)

Item 1.01: Entry into a Material Definitive Agreement .

Effective April 14, 2017, Asia Properties, Inc. (“ASPZ” or the “Company has executed a Sale and Purchase Agreement (the Agreement”) to acquire 100% of the shares and assets Sino King Management Limited, (“SKLM”) a company incorporated under the laws of British Virgin Islands. Pursuant to the Agreement, Asia Properties, Inc. has agreed to issue 600 million restricted common shares of the Company to acquire 100% of the shares and assets of SKML for a cost of US$6 million or US$0.01 per share reflecting the agreed upon value of the rights, titles and interests in the business assets and all attendant or related assets of SKLM.

Pursuant to the above noted Sale and Purchase Agreement, on or before June 18, 2017 (the “Closing”) SKLM is to deliver to ASPZ, duly authorized, properly and fully executed documents in English, evidencing and confirming the sale of 100% of the shares of SKLM and its assets.

Additionally, at the Closing, ASPZ shall deliver to SKML, Stock certificate(s) representing six hundred million shares issued in the name or names designated by SKML. It is understood that the stock certificates so delivered will display the required restrictive legend pursuant to Rule 144 of the United States Securities and Exchange Act.

the Agreement states further that both Parties agree that all shares issued, pursuant to the terms and conditions of the agreement, shall be held in escrow and shall be deemed to be in the full control of Asia Properties, Inc. until the Closing.

The Agreement also requires that following the execution of the Agreement, SKML is to undertake a full and up-to-date Valuation Report and a full and up-to-date audit of the financial position of SKML and to provide ASPZ with the Valuation Report and audited financial statements prepared by a qualified PCAOB auditor.