Asia Properties Inc. (ASPZ)

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Item 1.01: Entry into a Material Definitive Agreement .

As disclosed via a Form 8-K filed April 14, 2017, Asia Properties, Inc., (“ASPZ” or the “Company executed a Sale and Purchase Agreement (the Agreement”) to acquire 100% of the shares and assets Sino King Management Limited, (“SKML”) a company incorporated under the laws of British Virgin Islands. Pursuant to the Agreement, Asia Properties, Inc. agreed to issue 600 million restricted common shares of the Company (the “Shares”) to acquire 100% of the shares and assets of Sino King Management. Pursuant to the above noted Sale and Purchase Agreement, the Shares are held in escrow and continue to remain in the full control of the Company.

Additionally on August 7, 2017 both parties to the above noted Agreement confirmed that due to unforeseen circumstance the Closing date was to be changed to December 31, 2017.

Effective December 11, 2017 the Company and Sino King Management Limited have been advised that due to circumstance beyond the control of either party, a subsidiary of SKML, which is applying for Wholly Owned Foreign Enterprise (WOFE) status in China has not yet received such approval. As a result, both parties have agreed to postpone the closing date until March 31, 2018.