CTF Services Limited — Regulatory Filings 2017

Jun 30, 2017

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

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ASIA ENERGY LOGISTICS GROUP LIMITED 亞 洲 能 源 物 流 集 團 有 限 公 司

(Incorporated in Hong Kong with limited liability)

(Stock Code: 351)

ADDITIONAL INFORMATION RELATING TO THE ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2016

Reference is made to the annual report of Asia Energy Logistics Group Limited (the “ Company ”) for the year ended 31 December 2016 (the “ Annual Report ”). Unless the context requires otherwise, terms used in this announcement shall have the same meanings as they are used in the consolidated financial statements included in the Annual Report.

As set out in note 16 to the consolidated financial statements included in the Annual Report, during the year ended 31 December 2016, the disposal agreements were considered terminated with effect from 4 August 2016. Accordingly, management considered that impairment indicator of the carrying amounts of the property, plant and equipment, construction in progress and the railway construction prepayment in relation to the Zunxiao Railway existed as at 31 December 2016. An independent expert was engaged to assess the recoverable amounts of the aforesaid assets which were determined based on value in use calculations and were determined to be less than their carrying amounts. Accordingly, impairment losses of HK$645,000, HK$314,015,000 and HK$1,641,000 on the property, plant and equipment, construction in progress and the railway construction prepayment in relation to Zunxiao Railway respectively were recognised as at 31 December 2016 (2015: HK$Nil).

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The board of directors of the Company wishes to advise that the following basis and assumptions were adopted in the calculation of the value in use of the cash generating unit of the railway assets:

• (i) the expected amount of the compensation to the Mine Owner;

• (ii) the expected payment terms of the compensation;

• (iii) the expected time of resumption of the construction of the railway; and

• (iv) the expected commencement date of the operation of the railway business.

The above additional information does not affect the contents of the Annual Report.

By order of the board of Asia Energy Logistics Group Limited Liang Jun Executive Director

30 June 2017

As at the date of this announcement, the executive directors of the Company are Mr. Liang Jun, Mr. Fu Yongyuan and Mr. Lin Wenqing; the non-executive director of the Company is Mr. Yu Baodong (Chairman); and the independent non-executive directors of the Company are Mr. Chan Chi Yuen, Professor Sit Fung Shuen, Victor and Mr. Siu Miu Man.

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