Financial Statements and Related Announcement::Profit Guidance

Issuer & Securities

Issuer/ Manager
HONG LEONG ASIA LTD. - SG1F76860344 - H22
Stapled Security

Announcement Details

Announcement Title
Financial Statements and Related Announcement
Date &Time of Broadcast
30-Sep-2015 17:57:38
Announcement Sub Title
Profit Guidance
Announcement Reference
Submitted By (Co./ Ind. Name)
Ng Siew Ping, Jaslin
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 third quarter ended 30 September 2015 ("3Q 2015") which is likely to also result in a loss for the year-to-date ended 30 September 2015 ("9M 2015").

The Company had previously announced under paragraph 10 of the Company's announcement of the unaudited second quarter and half year financial statement for the period ended 30 June 2015, that in view of the current challenging business environment and uncertain global economy, the Group had expected in the near term a weaker performance from its business units, especially with the majority of its businesses based in China. Based on the information currently available to the Company, the expected losses for 3Q 2015 and 9M 2015 are mainly attributable to the higher losses incurred by the Group's Consumer Products Unit ("Xinfei") as a result of lower unit sales and the profits generated by the other profitable business units of the Group for 3Q 2015 and 9M 2015 were not sufficient to offset the losses incurred by Xinfei.

This profit warning is based on the preliminary review of the Group's performance for 3Q 2015 and 9M 2015. Further details of the Group's performance will be disclosed when HLA announces its unaudited financial results for 3Q 2015 and 9M 2015 in November 2015.

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

By Order of the Board

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

30 September 2015

Additional Details

For Financial Period Ended