SOCAM Development Limited expects to record a net loss for the financial year ended 31 December 2013, as compared to a net profit for the financial year ended 31 December 2012. The net loss for the financial year ended 31 December 2013 is mainly attributable to (i) lack of significant profit contribution from the property business as there was no major acquisition of special situation projects for development in the past two years amid plans to monetise property portfolio to unlock value for Shareholders; (ii) sluggish sales of the Group's luxury designer branded residence in Shanghai due to austerity measures on the Mainland property market; (iii) lack of en-bloc sales of development projects; and (iv) the possible adjustment to the value of the Group's investment in Lafarge Shui On Cement Limited to recognise the Group's share of this cement joint venture's losses for the past two years.