36c9a672-d478-422c-b027-68677d5166f9.pdf

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

(incorporated in Bermuda with limited liability)

(Stock Code: 899) ANNOUNCEMENT OF RESULTS FOR THE YEAR ENDED 31 MARCH 2016

The Board of Directors (the "Board") of Asia Resources Holdings Limited (the "Company") announces the audited consolidated results of the Company and its subsidiaries (collectively the "Group") for the year ended 31 March 2016 together with the comparative figures for the previous financial year as follows:

CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

For the year ended 31 March 2016

Notes

2016

HK$'000

2015

HK$'000

Continuing operations

Revenue, net

4

4,454

(3,560)

Cost of sales

(100)

(223)

Gross profit/(loss)

4,354

(3,783)

Other revenue

5

10,801

4,286

Other gains

Gain on bargain purchase

6

132

-

- 93,087

Distribution and selling expenses

(3,650)

(386)

Administrative expenses

(87,111)

(99,955)

Share of results of an associate

(732)

-

Write down of obsolete inventories

Provision for impairment loss on property, plant and equipment

(3,493)

(4,156)

-

-

Provision for impairment loss on intangible assets

(26,557)

(168,342)

(Loss)/gain on disposal of subsidiaries

(25)

2,186

Finance costs

(30,774)

(36,779)

* For identification purposes only.

Notes

2016

HK$'000

2015

HK$'000

Loss before income tax

7

(141,211)

(209,686)

Income tax

8

(1,664)

(368)

Loss for the year from continuing operations Profit/(loss) for the year from

discontinued operations

(142,875)

50,111

(210,054)

(35,248)

Loss for the year

(92,764)

(245,302)

Other comprehensive (expenses)/income, net of tax

Reclassification adjustments relating to foreign operations disposed during the year

(28,408)

-

Share of other comprehensive expense of an associate

(5,264)

-

Exchange differences on translating foreign operations

(64,228)

4,378

Other comprehensive (expenses)/ income for the year, net of tax

(97,900)

4,378

Total comprehensive loss for the year

(190,664)

(240,924)

Loss attributable to:

Owners of the Company

(76,205)

(157,152)

Non-controlling interest

(16,559)

(88,150)

(92,764)

(245,302)

Total comprehensive loss attributable to: Owners of the Company

(173,672)

(153,526)

Non-controlling interest

(16,992)

(87,398)

(190,664)

(240,924)

HK$

HK$

Loss per share attributable to owners of

the Company From continuing and discontinued operations
  • Basic and diluted 9 (0.018) (0.084)

    From continuing operations
  • Basic and diluted 9 (0.030) (0.066)

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As at 31 March 2016

Notes

2016

HK$'000

2015

HK$'000

Non-current assets

Property, plant and equipment

39,157

47,859

Intangible assets

Interest in an associate

11

- 456,313

32,727

-

Deposits paid

14

598,092

359,922

1,093,562

440,508

Current assets

Inventories

-

3,777

Properties under development

782,281

733,257

Trade and bills receivables

12

-

45,347

Loan receivables

13

40,638

-

Prepayments, deposits and other receivables

58,289

14,508

Amount due from an associate

4,167

-

Financial assets at fair value through profit or loss

10,632

5,820

Bank balances and cash

505,485

337,495

1,401,492

1,140,204

Assets classified as held for sale

15

65,667

82,569

1,467,159

1,222,773

Current liabilities

Trade payables

16

8,676

59,946

Other payables and accruals

169,972

171,337

Receipts in advance

97,800

-

Tax payable

2,101

482

Amount due to a non-controlling shareholder Convertible notes

- 9,646

389

-

288,195

232,154

Liabilities directly associated with assets classified as held for sale

15

-

66,143

288,195

298,297

Net current assets

1,178,964

924,476

Total assets less current liabilities

2,272,526

1,364,984

2016

HK$'000

2015

HK$'000

Capital and reserves

Share capital

1,335,923

694,848

Reserves

712,015

386,090

Total equity attributable to owners of the company

2,047,938

1,080,938

Non-controlling interest

(8,070)

8,433

2,039,868

1,089,371

Non-current liabilities

Convertible notes

188,448

229,289

Deferred tax liabilities

44,210

46,324

232,658

275,613

2,272,526

1,364,984

Asia Resources Holdings Limited published this content on 26 June 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 27 June 2016 00:13:06 UTC.

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