Genting Hong Kong Limited provided consolidated earnings guidance for the year ended December 31, 2016. For the year, based on the preliminary assessment of the latest unaudited financial information, excluding the share of results of Travellers, the group is expected to record a consolidated net loss in the range of USD 500 million to USD 550 million as compared with a consolidated net profit of USD 2.1 billion, excluding the share of results of Travellers, for the year ended December 31, 2015. Such expected decline in the consolidated net results of the group is mainly attributable to a number of factors including: The absence of a one-off accounting gain of USD 1,567.4 million recognized arising from the reclassification of the group's investment in Norwegian Cruise Line Holdings Ltd. (NCLH) from ‘Interest in associates’ to ‘Available-for-sale investments’ in 2015 and a total gain of USD 658.6 million arising from the disposals of certain stakes in NCLH in 2015 as disclosed in the company's announcements dated 9 March 2015, 21 May 2015, 12 August 2015 and 16 December 2015; an impairment loss of approximately USD 300 million on the group's available-for-sale investment of its interest in NCLH ordinary shares caused by a decline in its fair value in late 2016; one-time start-up and marketing costs for the launch of new Dream and Crystal cruise brands and products in 2016; additional depreciation and amortization mainly from new Dream and Crystal cruise ships and newly acquired German shipyards; and start-up, reorganization and acquisition related costs arising from its shipyard operations and new building activities. Despite the decline in its consolidated net results, the group is expected to record an improvement on its underlying cruise business excluding the one-time start-up costs of its new Dream and Crystal cruise ships.