NEW YORK, Aug. 24, 2017 (GLOBE NEWSWIRE) -- Southeast Asia Capital Group, Inc., a Nevada corporation, announced today that the Company has engaged PLS CPAS, a PCAOB-registered independent auditing firm (http://www.plscpas.com), to perform the required financial audits in order to file a Registration Statement with the Securities and Exchange Commission to become a fully reporting publicly traded company in the U.S. stock market.
Southeast Asia Capital Group, Inc., which was originally established in 2004 as E-Check Recovery, Inc., has investigated a number of potential acquisition targets and strategic alliances in Southeast Asia, including Tra Ngo – Cai Lim Island Eco-tourist Complex located in Van Yen Commune, Van Don District, Bai Tu Long bay area, Quang Ninh Province, Northern Vietnam. This is a high potential project with a total scale of more than 121 hectares of development land over an island area of more than 1,000 hectares of natural forests, rock mountains and sea surface. According to the master plan design, this project intends to build 5-star hotels, VIP Resorts, golf-course area, entertainment club, casino and VIP beach. Estimated total investment is $US 300 million.
In addition, together with Phanet Holding Corp. and VIET HP AMA Corp., Southeast Asia Capital Group will also focus on other potential projects in Vietnam, such as the eco-resort of Tuy Lai lake located in Tuy Lai Commune, My Duc District, Hanoi with total scale of over 2,000 hectares and estimated total investment of $US 1.5 billion, and other real estate projects in Hanoi, Ho Chi Minh City, Quang Ninh Province and Thanh Hoa Province of Vietnam.
The Company and expects to consummate a significant transaction before filing a Registration Statement with the Securities and Exchange Commission to take the Company public.
Richard Phan, Executive Chairman of Southeast Asia Capital Group, stated: ”We eagerly look forward to completing the financial audits in order to file with the SEC. We strongly believe that as a public company in the US, Southeast Asia Capital Group will be well positioned to engage in projects and transactions that have high potential for growth and are capable of generating attractive returns on investment.”
About Southeast Asia Capital Group, Inc.
Southeast Asia Capital Group is a Nevada company established in 2004. The Company is engaged in finance, international trade and commercial projects with potential for high returns on investment.
Safe Harbor
This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements pursuant to the “safe-harbor” provisions of the Private Securities Litigation Reform Act of 1995.
Press Contact: Richard Phan, Executive Chairman Tel: +1-646 -929 - 4009 Email: richard2p@yahoo.com
