The board of directors of the Hon Kwok Land Investment Co. Ltd. announced that the Group is expected to record a substantial increase in profit of not less than HKD 1 billion for the year ended March 31, 2015 as compared to last year. Such increase in profit is mainly attributable to one of the Group's investment properties under construction which was stated at cost as at March 31, 2014 has been revalued on an open market, existing use basis, by independent professionally qualified valuers as at March 31, 2015 as its fair value can be determined reliably.

Such figure of revaluation gain could only be ascertained preliminarily by the management until end of last week after discussions with the valuers and the company's auditors.