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(incorporated in Bermuda with limited liability)
(Stock Code: 899) ANNOUNCEMENT OF RESULTS FOR THE YEAR ENDED 31 MARCH 2016The 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 INCOMEFor 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 |
Basic and diluted 9 (0.018) (0.084)
From continuing operationsBasic and diluted 9 (0.030) (0.066)
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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