EPI (Holdings) Limited provided earnings guidance for the year ended December 31, 2023. For the year, the company expected to record a profit attributable to owners of the Company of not less than HKD 18 million for FY2023 as compared to the loss of approximately HKD 47 million recorded for the year ended 31 December 2022. Such turnaround of the Group's results is mainly the combined effect of (i) the reversal of expected credit loss ("ECL") on loan and interest receivables of approximately HKD 11 million (FY2022: provision of ECL of HKD 20 million); (ii) the decrease in provision of ECL on debt instruments at fair value through other comprehensive income to approximately HKD 9 million (FY2022: HK$11 million); (iii) the increase in profit contribution from the petroleum exploration and production business to approximately HKD 18 million (FY2022: HKD 4 million); (iv) the decrease in other expenses to approximately HKD 11 million (FY2022: HK$15 million) mainly due to the absence of professional fees incurred for the
acquisition of the oil assets in Canada; and (v) the increase in bank and other interest income to approximately HKD 6 million (FY2022: HKD 1 million).