Transview Holdings Limited provided earnings guidance for the financial year ended October 31, 2013. The company expected to report a loss for the financial year ended 31 October 2013 owing to the following: the lower operating income of the Group compared to the corresponding period in 2012 mainly due to challenging market conditions; the subsidiary of the company, Transview Resources Pte. Ltd. had made a preliminary investment in the sum of SGD 1 million to collaborate with a company is involved in the exploitation and development of coal mining exploration licences and/or concessions, held by three Indonesian companies, in respect of three parcels of land in Kalimantan Timur, Indonesia.

The Investment was made by way of loans ("Loans") which may be converted into equity interest in the said related company subject to the results of the survey, mapping and drilling of the Land being positive. The purposes of the Loans include the financing of the Surveys. The results of the Surveys in respect of three parcels of Land are not positive and as such TRPL has decided to write off the Investment; and The slowdown in the Australian mining sector had negatively impacted the share price of the Group quoted investment and its fair value had dropped below its acquisition cost.

As the above decline in fair value is significant and prolonged, the Group has transferred the difference between its acquisition cost and its fair value as at 31 October 2013 from other comprehensive income to profit and loss. The Group's financial performance has been affected by the reasons provided above.