The board of directors of HKR International Limited announced that based on the information currently available to management of the Company including the unaudited consolidated management accounts of the Group for the five months ended 31 August 2022, the Group estimates that it will record at least 85% decline in the underlying net profit excluding net unrealised gains/losses on fair value change of investment properties for the six months ending 30 September 2022 when compared to that reported in the six months period ended 30 September 2021. Such decline is primarily owing to: (i) decrease in revenue and profit from sale of properties as there has been no scheduled completion of property development projects until the second half of the financial year; (ii) rising interest rates leading to increase in the Group's finance costs; and (iii) continuous depreciation of Renminbi, Thai Baht and Japanese Yen during the Period leading to increase in net exchange losses arising from translating foreign currency denominated assets.