The board of directors of the Asia Standard Hotel Group Ltd. informed the shareholders of the company and potential investors that based on information currently available, the group is expected to record a loss for the year ended 31st March 2012 as compared with a profit for the year ended 31st March 2011. Despite an increase in contribution from the group's hotel operation from last year, the expected loss was mainly attributable to loss, both realized and unrealized, on investments in financial assets as opposed to a gain, mostly unrealized, in the same period of last year. The unrealized fair value loss or gain on securities investment has no effect on the cash flow of the group in their respective reporting periods.