Asia Cassava Resources Holdings Limited provided group earnings guidance for the six months ending September 30, 2016. For the period, the board of directors of the company, the shareholders and potential investors of the company that based on a preliminary assessment of the group's available operating data and management accounts for the five months ended August 31, 2016, the group is expected to record a substantial decrease in profit for the six months ending September 30, 2016 as compared with corresponding period of last year. The board believes that the decrease in profit for the reporting period is mainly attributable to the downward adjustment of the national storage price of corn made near the end of 2015, which diminished the price advantage of dried cassava chips over corn, and resulting in a significant decline in revenue of the sale of dried cassava chips of the group during the reporting period.