SOCAM Development Limited provided earnings guidance for the year ended December 31, 2014. The board of directors of the company announced that, the group expects to record an increase in net loss of over 50% for the financial year ended 31 December 2014 as compared to the net loss of HKD 889 million for the financial year ended 31 December 2013. The expected considerable increase in net loss is mainly attributable to share of the estimated impairment loss provision in a property joint venture of approximately HKD 130 million attributable to the Group for the Reporting Period arising from the general decrease in the selling prices of residential units in Chengdu amid the unfavourable property market sentiment; taxes and expenses of approximately HKD 140 million, in aggregate, relating to the disposal of the group's property interest in Shenyang Project Phase II and inventory at Shanghai Lakeville Regency Tower 18 during the Reporting Period; and the estimated amount of exchange loss of approximately HKD 20 million incurred by the group's property projects in the Chinese Mainland as a result of depreciation of Renminbi during the Reporting Period, as compared to the exchange gain of approximately HKD 170 million resulting from the appreciation of Renminbi for the Previous Period.