The board of directors of Cheung Wo International Holdings Limited announced that it is expected that the group may record a substantial increase in the loss for the year ended December 31, 2013, as compared to the loss for the year ended December 31, 2012. The substantial increase in the loss for the Group is mainly attributable to the following: share based payment recognised resulting from the grant of share options to certain directors and employees of the Group pursuant to the share option scheme of the company adopted on September 2, 2013 during the financial year; an impairment loss made on the fair value of the group's investment property as at December 31, 2013.