Financial Statements and Related Announcement::Profit Guidance

Issuer & Securities

Issuer/ Manager
HONG LEONG ASIA LTD.
Securities
HONG LEONG ASIA LTD. - SG1F76860344 - H22
Stapled Security
No

Announcement Details

Announcement Title
Financial Statements and Related Announcement
Date &Time of Broadcast
28-Apr-2016 17:12:35
Status
New
Announcement Sub Title
Profit Guidance
Announcement Reference
SG160428OTHRFWCF
Submitted By (Co./ Ind. Name)
Ng Siew Ping, Jaslin
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below - Refer to the Online help for the format)
The Board of Directors of Hong Leong Asia Ltd. ("HLA" or the "Company", and together with its subsidiaries, the "Group") wishes to inform shareholders and potential investors of the Company that the Group expects to report a loss for the first quarter ended 31 March 2016 subject to the finalization of the unaudited financial statements.

In the Company's announcement of the unaudited financial statement for the year ended 31 December 2015 which was issued on 26 February 2016, the Group had indicated that it expected that the performance of its business units based in China would continue to be weak in the first quarter of 2016.

Based on information currently available to the Group, a loss attributable to the owners of the Company is expected to be reported for the first quarter ended 31 March 2016. The loss is attributed mainly to the continuing losses incurred by the Group's Consumer Products Unit ("Xinfei") with its declining revenue and margins. Profits from other profitable business units of the Group would not be sufficient to offset the loss incurred by Xinfei.

Further details of the Group's performance will be disclosed when HLA announces its unaudited financial results for the first quarter ended 31 March 2016 on 13 May 2016.

In the meantime, shareholders and investors are advised to exercise caution when dealing in the shares of the Company.


By Order of the Board
HONG LEONG ASIA LTD.

Ng Siew Ping, Jaslin
Yeo Swee Gim, Joanne
Company Secretaries

28 April 2016

Additional Details

For Financial Period Ended
31/03/2016