AFP eases investors' concerns

AFP eases investors' concerns

SINGAPORE (Dow Jones): Singapore-listed Asia Food & Properties
Ltd. (AFP) will provide full answers to concerns among minority
shareholders about its financial health at its annual general
meeting scheduled for Tuesday, David Gerald, president of
Securities Investors Association of Singapore, told Dow Jones
Newswires Monday.

SIAS held a meeting with representatives from AFP, including
the company's chairman and chief executive Franky Widjaja, a
member of Indonesia's Widjaja family, which controls the company,
Gerald said.

AFP's board volunteered to clear the air after minority
shareholders asked for SIAS' assistance in getting answers from
the company.

Gerald said the meeting discussed "concerns in the public
domains so far," such as the nondisclosure of payment defaults by
certain AFP units and the possibility of recovering bank loans or
deposits made with related persons' banks.