Asia Standard International : Announcement of Interim Results for the six months ended 30th September 2018

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

ASIA STANDARD INTERNATIONAL GROUP LIMITED

(Incorporated in Bermuda with limited liability)

(Stock code: 129)

ANNOUNCEMENT OF INTERIM RESULTS

FOR THE SIX MONTHS ENDED 30TH SEPTEMBER 2018

FINANCIAL HIGHLIGHTS

(In HK$ million, except otherwise indicated)

Six months ended 30th September 2018 2017

Change

Revenue	1,031	893	+15%
Operating profit	1,103	1,293	-15%
Profit attributable to shareholders of the Company	909	1,137	-20%
Earnings per share - basic (HK$)	0.69	0.86	-20%
30th	31st
September	March
2018	2018
Total assets	35,377	32,485	+9%
Net assets	18,830	19,364	-3%
Equity attributable to shareholders of the Company	18,198	18,669	-3%
Net debt	14,993	11,468	+31%
40,834	+8%
27,713	-
25,573	-
41%	+13%

Supplementary information with completed hotel properties at valuation:

Revalued total assets 44,179

Revalued net assets 27,632

Equity attributable to shareholders of the Company 25,478

Gearing - net debt to revalued net assets 54%

The Board of Directors (the "Board") of Asia Standard International Group Limited (the "Company") announces that the unaudited condensed consolidated results of the Company and its subsidiaries (together the "Group") for the six months ended 30th September 2018 together with the comparative figures for the six months ended 30th September 2017 were as follows:

CONDENSED CONSOLIDATED PROFIT AND LOSS ACCOUNT - UNAUDITED For the six months ended 30th September

Note	2018	2017
HK$'000	HK$'000
Revenue	2	1,031,338	892,976
Cost of sales	(157,721)	(192,776)
Gross profit	873,617	700,200
Selling and administrative expenses	(127,180)	(124,166)
Depreciation	(59,670)	(78,653)
Net investment (loss)/gain	3	(218,636)	344,491
Fair value gain of investment properties	634,658	451,528
Operating profit	1,102,789	1,293,400
Net finance costs	5	(231,147)	(126,463)
Share of profits less losses of
Joint ventures	26,768	38,198
Associated companies	48,877	(20,384)
Profit before income tax	947,287	1,184,751
Income tax expense	6	(15,823)	(14,571)
Profit for the period	931,464	1,170,180
Attributable to:
Shareholders of the Company	909,008	1,136,971
Non-controlling interests	22,456	33,209
931,464	1,170,180
Earnings per share (HK$)
Basic	8	0.69	0.86
Diluted	8	0.69	0.86

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - UNAUDITED For the six months ended 30th September

2018 HK$'000

2017 HK$'000

Profit for the period

931,464

1,170,180

Other comprehensive (charge)/income

Items that have been reclassified or may be reclassified subsequently to profit or loss:

Net fair value loss on debt securities at fair value through other comprehensive income

Fair value gain on available-for-sale investments

Cash flow hedges

• - Fair value gain

• - Transfer to finance costs

• - Realised loss

Currency translation differences

Share of currency translation differences of joint ventures Items that will not be reclassified to profit or loss:

Net fair value loss on equity securities at fair value through other comprehensive income

(1,087,869)

- 1,796 (3,660) (446)

- 43,241 15,336 (10,544)

-223 18,843

(152,169) 72,665

(178,266)

(1,420,391)

- 139,541

Total comprehensive (charge)/income for the period

Attributable to:

Shareholders of the Company

Non-controlling interests

• (488,927) 1,309,721

• (431,123) 1,263,506

  (57,804)

  46,215

• (488,927) 1,309,721

30th	31st
		September	March
Note	2018	2018
HK$'000	HK$'000
9,644,390	9,006,185
4,089,787	4,091,590
5,356,511	4,753,273
1,491	2,054
588,762	684,383
46,055	38,128
19,726,996	18,575,613
1,545,983	767,405
3,501	3,501
13,848	14,091
539,300	497,662
167	340,966
2,581	2,776

Non-current assets

Investment properties Property, plant and equipment

Joint ventures and associated companies Loan receivables

Financial investments Deferred income tax assetsCurrent assets

Properties under development for sale Completed properties held for sale Hotel and restaurant inventories

Trade and other receivables 9 Loan receivables

Income tax recoverable Financial investments Bank balances and cashCurrent liabilities

Trade and other payables 10 Amount due to joint ventures

Amount due to an associated company Amount due to non-controlling interest Income tax payable

Derivative financial instruments Medium term notes Borrowings

12,917,41511,366,000

626,82115,649,616

369,048

134,813

224,400

38,670

50,491-

99,490

4,480,8102,634,572

5,397,722

917,399 13,909,800

305,092

61,659

224,400 -

33,224

3,522

315,868

3,578,337

Net current assets

10,251,894

10,331,463

30th	31st
September	March
2018	2018
HK$'000	HK$'000
Non-current liabilities
Long term borrowings	10,783,628	9,081,222
Medium term notes	248,583	347,291
Convertible notes	6,865	6,655
Deferred income tax liabilities	109,480	107,761
11,148,556	9,542,929
Net assets	18,830,334	19,364,147
Equity
Share capital	13,197	13,197
Reserves	18,185,118	18,655,834
Equity attributable to shareholders of the Company	18,198,315	18,669,031
Non-controlling interests	632,019	695,116
18,830,334	19,364,147