The board of directors of Sino Golf Holdings Limited announced that, based on information currently available to the Board, the Group is expected to record an increase in the loss for the year attributable to the Shareholders by not more than HKD 62,000,000 for the year ended 31 December 2016 as compared to the loss recorded in 2015. The reasons for the expected loss are mainly attributed to the continuous downturn in the golf market during 2016 which further reduced the Group's revenue; and the finance cost of the promissory note and related expenses incurred from early redemption of the promissory note in relation to the acquisition completed on 16 May 2016.