Ngai Shun Holdings Limited provided earnings guidance for the year ended March 31, 2017. The board of directors of the Company said that it is expected to record a substantial increase in consolidated net loss for the year ended 31 March 2017 as compared to the same period of 2016. Such expected substantial increase in consolidated net loss for the current year was mainly due to the following: (i) the net loss incurred by the foundation business in the current year as compared to the net profit in prior year, mainly attributable to the discounts offered for the tendered projects to deal with the intense competition in tender with other subcontractors, which led to decreasing turnover; (ii) the enlarged fair value losses on equity investments at fair value through profit or loss; (iii) the significant increase in interest expenses on borrowings; and (iv) the write down of the properties under development and completed properties held for sale to net realizable value and the loss on sale of properties under the property development business in the current year.