Brief: United Energy Group updates on profit warning

United Energy

02/02/2016 10:04

Feb 2 (Reuters) - United Energy Group Ltd  0467.HK : 
 * Profit warning - update of information  0467.HK  
 * Impairment losses are non-cash nature and board believes that they do not have material impact on cash flow position of group 
 * For the year ended 31 December 2015, the group is also expected to recognize a non-cash accounting impairment loss of hk$1.62 billion 
 * Expected that oil exploitation rights of liaohe eor project in China is to record non-cash accounting impairment losses of approximately hk$3.01 billion 
 * Says non-cash accounting impairment loss occurred due to significant decline of oil price in international commodity market in 2015 
 * Non-cash accounting impairment loss due to reduction in capital expenditure for the production of oil 
 * Source text for Eikon  ID:nHKS6Cf8Zx  
 
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