ASF Group (AFA)

Shares / Stock Code

AFA

Stock Exchange / Sharemarket

ax

ASF Group (ASF) is engaged in the provision of property services and development. The Company is principally focused on the property project marketing of developments across Australia and China. AFA form alliances and assists projects in industries such as resource, mining and related technology, travel services and educational services. It is researching and developing an internal combustion engine using the Scotch Yoke Technology. AFA is also focused on the promotion of its Scotch Yoke technology. The development of SYTEC engine is in progress which is basically intended for use in the automotive and auxiliary power generation industries. The SYTEC engine offers various advantages such as compactness, efficiency, low noise and vibration and lower emission outputs.

AFA listed on ASX on 29th May, 1985. On June 28, 2006, ASF got a 40% shareholding of a joint venture company, ASF Macau Multinational Limited. The Company took over ASF Properties Pty Ltd on April 19, 2006. On September 9, 2005, AFA sold off its wholly owned entity, CMC Power Technologies Pty Ltd. As of January 2007, a 57.51% stake was purchased by FY Holdings Limited in the Company.

ASF Group History

AFA commenced its operations as the Collins Motor Corporation in the 1970s after the development of the basic "scotch Yoke" crank system by Tim Collins. AFA became floated on the ASX in 1985 and set up an engine development program in the UK. In the 80s, testing for a wide range of engine types was carried out for various vehicles. In 1997, a 2.2L version of the engine received the Automotive Society's excellence award. In 2000, AFA set its focus on producing a hybrid car with the CSIRO. The Company created an auxiliary power generation unit in 2002.