Asia Properties to Buy Stake in Thai Firm

Asia Properties Inc., Bellingham, Wash., has agreed to purchase 500,000 shares of common stock in Quest Resorts, a corporation that owns and manages golf and beach resort developments in Thailand."This is a significant opportunity for API, and we are looking forward to working closely with Quest Resorts to develop their real estate portfolio," said Daniel McKinney, chief executive officer of Asia Properties. The Thailand-based Quest Resorts has 3 million shares outstanding and is managed by Simon Landy, a former managing director for The Orchid Fund, and Gregg Lin, a former senior executive at the Bangkok-based Pacific Assets PCL.