The board of directors Shangri-La Asia Limited announced the shareholders of the company and potential investors that, based on the financial information currently available to the company and the preliminary assessment of the unaudited management financial statements, the board anticipates that the group's unaudited consolidated profit before non-operating items attributable to equity holders of the Company for the year ending 31 December 2016 (which is derived by excluding non-operating items comprising mainly the net fair value gains/losses on investment properties, impairment losses for hotel properties and net gains/losses on financial assets held for trading) will increase by at least 25% as compared to that for the year ended 31 December 2015. However, the Group expects to record a material decline in the consolidated profit attributable to equity holders of the Company after non-operating items (ie, after recording a reduction in fair value gains in investment properties and making a material provision for impairment losses for hotel properties) for the year ending 31 December 2016.