Tian Teck Land Limited (TTLL) and Associated International Hotels Limited (AIHL) announced that based on a preliminary review of the management accounts of the TTLL Group and the AIHL Group respectively, it is expected that the TTLL Interim Results and the AIHL Interim Results will both record a loss before taxation as compared to a profit before taxation for the six months ended 30 September 2016, mainly attributable to the valuation losses in respect of their investment properties. The valuation losses on investment properties will only affect the accounting profit or loss but not the cash flow of both the TTLL Group and the AIHL Group. It is expected that there will be only a limited decrease in the results arising from the normal business operation of both the TTLL Group and the AIHL Group for the six months ended 30 September 2017.

The board of directors of AIHL is expected that the unaudited consolidated results of the AIHL Group for the six months ended 30 September 2017 will record a loss before taxation of approximately HKD 125 million as compared to a profit before taxation of approximately HKD 133 million for the six months ended 30 September 2016, mainly attributable to the valuation losses of approximately HKD 391 million in respect of its investment properties. Such valuation losses on investment properties will only affect the accounting profit or loss but not the cash flow of the AIHL Group. It is expected that there will be only a limited decrease in the results arising from the normal business operation of the AIHL Group for the six months ended 30 September 2017.