The board of directors of Asia Orient Holdings Ltd. informed the shareholders of the company and potential investors that based on information currently available, the group is expected to record a loss for the year ended March 31, 2012 compared with a profit for the year ended March 31, 2011. The expected change was mainly attributable to the absence of a non-recurrent gain on business combination which arose when Asia Standard International Group Ltd. became a subsidiary of the group in end January last year and the losses, both realised and unrealised, on securities investments as opposed to a gain, mostly unrealised, in last year. The gain on business combination and the unrealised fair value loss or gain on securities investment has no effect on the cash flow of the group in their respective reporting periods.