The board of directors of APAC Resources Limited informed the shareholders of the company and potential investors that the interim results of the company and its subsidiaries (the 'group') for the six months ended 31 December 2014 are expected to record a loss attributable to owners of the company of between approximately HKD 852 million and approximately HKD 987 million compared with a profit attributable to owners of the company of approximately HKD 1,316 million for the six months ended 31 December 2013. The loss is mainly attributable to (i) the share of losses of a listed associate of the group which is partially offset by the reversal of impairment loss already accounted for in the group's share of losses of this associate; and (ii) impairment loss on the carrying value of another listed associate of the group. Majority of such losses come from Mount Gibson Iron Limited as its reported results for the six months ended 31 December 2014 and share price have been negatively affected by the flooding of its Koolan Island mine after a seawall failure and lower iron ore prices.