HONG KONG (Yosefardi) – Asia Resources Holdings Limited expects to record a further loss for the six months ended 30 September 2014 as compared to the loss recorded for the six months ended 30 September 2013.
Such loss was mainly attributable to (i) likely further narrowing of the gross profit margin and the decrease in sale of pharmaceutical segment; and (ii) an expected impairment loss recognition of PT. Dampar Golden International of approximately HK$170,000,000.
The expected impairment loss recognition of Dampar was mainly due to the decline in the domestic selling price of refined iron sand in Indonesia, where there is an approximately 22.4% decline in its selling price by comparing the reference selling price per tonne as at 31 March 2014 and 30 September 2014, with reference to the draft valuation report prepared by independent valuers.