Harmony Asset Limited

Harmony Asset Limited

July 19, 2009 12:23 ET

Announcement of Expected Increase in Profit for Q2 2009 Interim Results

HONG KONG, CHINA AND TORONTO, ONTARIO--(Marketwire - July 19, 2009) - This announcement is made by Harmony Asset Limited (the "Company" together with its subsidiaries as the "Group")(TSX:HAR)(HKEX:0428) pursuant to the Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules").

The Board of Harmony Asset Limited wishes to inform its shareholders and potential investors that the Group is expected to record a substantial increase in profit for the six months ended 30th June, 2009 as compared to profit for the same period ended 30th June, 2008. This announcement of the expected increase in profit is based only on the preliminary review on the management accounts of the Group, which has not been confirmed nor audited by the Company's auditors.

Shareholders of the Company and potential investors are advised to exercise caution when dealing in the shares of the Company.

The Company is an investment company that principally invests in listed and unlisted securities in Hong Kong and other main stock markets around the world. The Board of Directors (the "Board") of the Company wishes to inform the shareholders of the Company and potential investors that the Group recorded a significant gain on fair value changes on financial assets through profit or loss in the first half of 2009. This is an unrealized gain derived from listed securities, which is part of the Company's ordinary course of business operations. The estimated results of the Group indicate that profit attributable to equity holders for the period ended 30th June, 2009 will increase at least 500% as compared with the corresponding period last year. Net profit attributable to equity holders for the period ended 30th June, 2008 was HK$14,995,620.

This announcement is based only on the preliminary review on the management accounts of the Group, which have not been confirmed nor audited by the Company's auditors. The unaudited consolidated results of the Group for the six months ended 30th June, 2009 with the comparative figures for the corresponding period in 2008 will be announced on 14th August, 2009.

Shareholders of the Company and potential investors are advised to exercise caution when dealing in the shares of the Company.



By Order of the Board
HARMONY ASSET LIMITED
LEE Fong Lit David
Chairman


Hong Kong, 19 July, 2009

As at the date of this announcement, the Board comprises 4 executive directors, namely, Mr. LEE Fong Lit David, Dr. CHOW Pok Yu Augustine, Dr. LAM Andy Siu Wing JP, Mr. CHAN Shuen Chuen and 3 independent non-executive directors, namely, Mr. TONG Kim Weng Kelly, Dr. WONG Yun Kuen and Mr. HO Man Kai Anthony.

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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