Asia Securities International's profit surged 23 per cent to $20.5 million for the year to December in results helped by the disposal of a property project. Turnover jumped 125 per cent to $554.6 million, mainly due to disposal of part of the company's land use and development rights of a property project in Beijing through a 60 per cent owned subsidiary for US$69.6 million. Profit did not grow at the same rate as turnover as it was reduced by the premium the company paid for acquiring the Beijing project. Earnings per share were 2.98 HK cents, up from 2.55 cents. The company did not recommend a final dividend but proposed a one for 10 bonus share issue. Chairman Dai Xiaoming said the company was still exploring the viability of several transactions announced in January and February, including proposed injection of capital into Asia Securities by a company controlled by China's Ministry of Foreign Trade and Economic Co-operation. Also being considered was the disposal of a 33 per cent interest in a luxury property project in Redhill Peninsula to the Sino Group and the spin-off of its China business.