APAC Resources Limited reported that the interim results of the group for the six months ended December 31, 2013 are expected to record a
significant increase in profits as compared with that for the six months ended December 31, 2012. The significant improvement in profitability is mainly attributable to an increase in share of profits (net of losses) of associates and the partial release of the impairment losses previously provided against the carrying value of the group's two listed associates. The improvement in the overall share of profits (net of losses) of associates compared with the 2012 period reflected the solid results reported by one of the principal associates of the group, benefited from strong iron ore prices and increased throughput as compared with the 2012 period while the improved share prices of the two principal associates of the group allowed the group to release over 50% of the impairment losses brought forward from June 30, 2013.