ASF Group Limited

ASF Group Limited (ASF) is engaged in property services and development, including property project marketing of developments in Australia and China, partnering and facilitating projects in areas, such as resource, mining and related technology, travel services and educational services. The Company is also involved in the research and development of an internal combustion engine using the Scotch Yoke Technology, and the marketing of the technology. On June 28, 2006, ASF acquired 40% of a joint venture company, ASF Macau Multinational Limited. On April 19, 2006, the Company acquired ASF Properties Pty Ltd. On September 9, 2005, the Company disposed its wholly owned entity, CMC Power Technologies Pty Ltd. Some of ASF's subsidiaries include ASF Corporate Pty Ltd, Aria Power Products Inc. and PRD Nationwide China Pty Ltd. In January 2007, FY Holdings Limited purchased a 57.51% stake in the Company.