NEW YORK, NY and HANOI, Vietnam / ACCESSWIRE / April 29, 2014 / Asia Green Corporation announced that it has retained Royal Vietnam Consulting and Auditing Company, Ltd. (www.royalaudit.vn) to perform the financial audits for its Vietnam-based subsidiaries Asia Green Vietnam Limited Liability Company and Hoan Vu Limited Liability Company according to International Auditing Standards.
Asia Green Corporation will combine the audited financial results of its subsidiaries in the Company's consolidated financial statements 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.
Asia Green Corporation's Vietnam-based subsidiary Asia Green LLC has acquired 75% equity ownership in Hoan Vu LLC, a Vietnamese company that has been granted 1,400 hectares of land in Dak Lak Province, Vietnam, for the first phase of its agroforestry and reforestation program.
Asia Green Corporation is engaged in afforestation and reforestation activity in Vietnam, particularly specializing in planting Paulownia trees for timber, producing carbon credits as a byproduct and growing bananas as an intermediate crop to maximize both short-term and long-term potential economic benefits. The Company is the pioneer and only company in Vietnam that uses the U.S. public company model to access international capital markets and develop a sustainable agroforestry program by planting Paulownia trees together with bananas in order to protect the environment and maximize both short-term and long-term economic benefits.
Danny Tieu, President of Asia Green Corporation, stated, " We are eager to get the audited financial statements done as soon as practical so we can file a registration statement with the SEC to become a fully reporting public company in the U.S." Danny reiterated: "We are the very first company in Vietnam using the U.S. public company model in the agroforestry business to access international capital markets and provide an opportunity for worldwide investors to participate."
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. Such forward-looking statements are made based upon management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995.
About Asia Green Corporation
Asia Green Corporation is a Nevada corporation focused on agroforestry and reforestation projects in Vietnam and Southeast Asia. The Company has acquired 95% of Asia Green LLC, a Vietnamese company and will file a registration statement with the Securities and Exchange Commission to become a publicly traded company in the U.S. stock market. Website: www.asiagreencorp.com
CEO, Asia Green Corporation
SOURCE: Asia Green Corporation