SOURCE: Ka Wang Holding, Inc.

June 07, 2007 10:55 ET

Ka Wang Holding, Inc. Announces the Signing of a Letter of Intent to Acquire a Chain of Clothing Stores in China

LAS VEGAS, NV--(Marketwire - June 7, 2007) - Ka Wang Holding, Inc. (PINKSHEETS: KWGI), parent company to Ka Wang Department Stores, located in southern China, has signed a letter of intent to acquire Hunan Golden Dragon Stores (Hunan Golden Dragon currently owns and operates 35 retail stores). In 2006, revenues for Hunan Golden Dragon reached 54 million. Ka Wang Holding, Inc. hopes to finish this acquisition within the next 60 days. Mr. Mio LokTin, CEO of Ka Wang, feels that acquiring Hunan Golden Dragon is a big step in achieving the ultimate goal of being the major retailer in the ever growing Chinese market place. Similar acquisitions are now in negotiations and should be completed during 2007.

About Ka Wang Holdings, Inc.

Ka Wang Holding, Inc., parent company of Ka Wang Department Stores in Southern China, has been operating since 1980. Their main business is high-end designer clothing for men and women. Ka Wang carries many of the top brands and has joint ventured with the famous Italian design brand "Jagger" to be their sole agency in the Far East. They also have their own manufacturing factory where they design, research and develop their own clothing lines for wholesale and retail customers. With the standard of living in China improving, the general population is becoming more conscious of designer wear labels. Ka Wang's 2006 sales reached $80 million with net income exceeding 30%.

This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.

Contact Information

  • For additional information, please contact:
    Ka Wang Holding, Inc.
    Ruzao Zheng
    (702) 995-0477