Ares Asia Limited provided group earnings guidance for the year ended March 31, 2012. The board of directors of the company announced that, based on the information currently available, the group is expected to record a loss for the year ended March 31, 2012 as compared to a profit for the year ended March 31, 2011. Such decline was mainly at attributable to a more competitive business environment in the People's Republic of China during the year than in the past and the adverse economic condition worldwide and the absence of gains on disposal of leasehold property and held for trading securities recorded in the last year.