FROM PUBLISHED ACCOUNTS

DISCLOSURES
IN INTERIM FINANCIAL RESULTS REGARDING IMPACT OF CORONA VIRUS

Compiler’s Note

The Financial Reporting
Council, UK, on 18^th February, 2020 issued an advice to companies
and auditors on corona virus risk disclosures. On similar lines, the US
Securities and Exchange Commission also issued a release dated 4^th
March, 2020 whereby besides extending the deadlines for regulatory filings by
45 days, it also asked companies affected by the corona virus to give adequate
disclosures. Given below are such disclosures by some companies.

Starbucks Corporation,
USA (quarter ended 29^th December, 2019)

Subsequent Event

In late January, 2020 we
closed more than half of our stores in China and continue to monitor and modify
the operating hours of all our stores in the market in response to the outbreak
of the corona virus. This is expected to be temporary. Given the dynamic nature
of these circumstances, the duration of business disruption, reduced customer
traffic and related financial impact cannot be reasonably estimated at this
time but are expected to materially affect our international segment and
consolidated results for the second quarter and full year of fiscal 2020.

Cathay Pacific Airways
Ltd., Hong Kong (annual results, 2019)

Event after the
reporting period

The outbreak of COVID-19
since January, 2020 has resulted in a challenging operational environment and
will adversely impact the group’s financial performance and liquidity position.
Travel demand has dropped substantially and the group has taken a number of
short-term measures in response, including aggressive reduction of passenger
capacity measured in Available Seat Kilometres (ASK) by approximately 30% for
February and 65% for March and April, with frequencies cut approximately 65%
and 75% over the same periods. Substantial passenger capacity and frequency
reduction is also likely for May as we continue to monitor and match market
demand.

As at the end of
February, passenger load factor had declined to approximately 50% and
year-on-year yield had also fallen significantly. It is difficult to predict
when these conditions will improve. However, the group is expected to incur a
substantial loss for the first half of 2020. The group’s available unrestricted
liquidity as at 31^st December, 2019 was HK$20 billion. The directors
believe that with the cost-saving measures being taken, the group’s strong
vendor relationships, as well as the group’s liquidity position and
availability of sources of funds, the group will remain a going concern.

Rio Tinto plc, UK
(Annual results 31^st December, 2019)

From Statement of
Risk Management (extracts)

There remain certain threats, such as natural disasters and
pandemics where there is limited capacity in the international insurance
markets to transfer such risks. We monitor closely such threats and develop
business resilience plans. We are currently closely monitoring the potential
short and medium-term impacts of the covid-19 virus, including, for example,
supply-chain, mobility, workforce, market demand and trade flow impacts, as
well as the resilience of global financial markets to support recovery. Any
longer term impacts will also be considered and monitored, as appropriate.

Marriott International
Inc., USA (year 31^st December, 2019)

Notes below results

Corona virus