The board of directors of Hongkong Chinese Limited announced that based on information currently available to the company, the board estimates that the group is likely to record a profit for the six months ended 30th September, 2013 as compared to a loss recorded for the six months ended 30th June, 2012. The profit for the current period was mainly attributable to the recognition of part of the profit arising from the pre-sold properties of the group's property development project in Beijing, the People's Republic of China which had been completed in the third quarter of 2013. It is expected that part of profit arising from the pre-sold properties will be recognized in the second half of the financial year ending 31st March, 2014.

In addition, it is expected that the group shall record a better result from its joint ventures for the current period as compared to the last period as a result of the write back of certain deferred tax liabilities by a joint venture following a change of tax base of its underlying property during the current period. The board announced that a property development project in Singapore held by the group's joint venture has been completed in the fourth quarter of 2013 and based on information currently available to the company, the board estimates that a share of profit from the pre-sold properties of this project will be recognised in the group's consolidated financial results in the second half of the financial year ending 31st March, 2014.