China Asean Resources (HKG:8186) has warned that it will record a net loss for 2009, compared with the net profit of approximately $70.995 million recorded for 2008.
The reasons for the net loss include: the deconsolidation of the results of Sinnowa Medical Science & Technology as a result of the potential dispute over China Asean Resources' ownership of 65% interest in the company; and the fact that there was no income generated by China Asean Resources from one time initial service fee and sub-concession of its forest in Cambodia during the year 2009.
