Looking at the schematics, it appears that many changes have been made in the lockwork. The ones I worked on in the decade of the 80s had a lockwork that was almost identical to the Colt D frame (see pics), and the metal was very soft. They were very close copies of the Colt Diamondback. I don't remember who the importer was at that time, but they were interesting.
The latest rendition seems to favor the Colt Mk III.
Edit: I should have mentioned that metallurgy has come light years since the first Armscors came to the U.S. in the 80s.
On my last trip to the Philippines I had chances to examine both Armscors and Shooters Arms (from Cebu) guns in outlet stores (yes, they have actual gun stores), as well as spare parts and found them to be first class. There are many interesting firearms that are made for sale only in the Philippines that we don't see here.