N@N

Sunwah International Announces Termination of Novation of RAB Energy and Octane Funds

^{Published on 2011-08-10 15:11:36 - Market Wire}
 

TORONTO, Aug. 10, 2011 /CNW/ - Sunwah International Limited (TSX: SWH) ("Sunwah International" or the "Company") announced today that its asset management arm, Sunwah International Asset Management (Cayman) Limited ("SIAM"), has terminated discussions with RAB Capital PLC ("RAB") for the novation of the investment management agreements of RAB's Energy Fund and Octane Fund.

"The current market uncertainties in the United States and Europe have created an environment in which proceeding with the contemplated novation became increasingly difficult," commented Doug Betts, President and CEO of Sunwah International. "Nevertheless, we remain 100% committed to the development of our asset management business and continue to pursue several opportunities toward expanding this operation and creating a stronger, more diversified revenue base for Sunwah International."

SIAM has also terminated discussions with PCE Investors Limited ("PCE") with respect to the related transactions referred to in its press release of June 27, 2011.

SIAM continues to develop its asset management business with a focus of bringing three new private equity funds to market during the current fiscal year, each with a focus on the Asia Pacific Region.

About Sunwah International Limited (TSX: SWH)

Sunwah International is a strategically positioned asset-based financial services provider, linking the global investment community with China's high growth economy.  The Company now comprises three integrated divisions: Capital Markets Group, consisting of brokerage and financial services, including investment banking; Strategic Investment Group, a merchant bank focused on mining and natural resources; and an Asset Management Group specializing in private equity funds.  The Company's primary subsidiary, SW Kingsway Capital Holdings Limited ("SWK"), is based in Hong Kong and listed on The Stock Exchange of Hong Kong.  SWK is licensed to provide a range of financial services.  Sunwah International operates from five offices located in Hong Kong, Beijing, Shanghai, Shenzhen and Toronto.

China is widely recognized as an increasingly important player on the world's financial stage.  As the country continues to grow, its greatest needs will lie in energy and resources.  Following a recent restructuring, the Company is positioned as a middle tier provider of financial services in these sectors and an opportunistic investor in these and related sectors.  The Company's strategy is to use investment activities to generate advisory services revenue while creating value for its shareholders through asset accumulation.

Leveraging a 20-year track record and significant relationships throughout Asia, Sunwah International continues to operate as a China focused multi-discipline asset based financial services firm, with a concentration on natural resources, infrastructure and real estate.

Founded in 1990, Sunwah International is listed on the main board of the Toronto Stock Exchange under the symbol SWH.

For more information on Sunwah International's core business and new strategic direction, please visit the Company's website at [ www.sunwahinternational.com ]. 

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements that are based on the beliefs of management and reflect Sunwah International's current expectations. In certain cases, forward-looking information can be identified by the use of words such as "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may", "should", "will", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".    The forward-looking statements in this press release also includes information relating to the development of private equity funds and development of an asset management business. By their nature, forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information.   There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.  Accordingly, investors should not place undue reliance on forward-looking information.  Forward-looking information is provided as of the date of this press release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as required in accordance with applicable laws.