The board of directors of Kitchen Culture Holdings Ltd. announced that, following a preliminary review of the unaudited financial results of the group for the financial year ended 31 December 2014 the group is expected to record a net loss for financial year 2014. This was mainly attributable to: a decrease in revenue from the residential projects segment, mainly as a result of weaker sentiments in the luxury residential project market; losses arising from its wholly-owned subsidiary, Eclat Office Club Pte. Ltd. due to business operations not taking off as anticipated; and losses arising from its wholly-owned subsidiary in Malaysia, Kitchen Culture Sdn.

Bhd., due to lower profit margins coupled with higher operating costs. The group's operations in Singapore are expected to remain profitable in financial year 2014, despite general market conditions continuing to be challenging.