The Board of Directors of Aspen (Group) Holdings Limited announced that, based on its preliminary review and assessment of the information currently available to the Board, including the unaudited consolidated financial statements of the Group for the eighteen (18) months financial period from 1 January 2021 to 30 June 2022, the Group is expected to report a consolidated net loss for fiscal year 2022. The expected loss for fiscal year 2022 is attributable mainly to the Group's Healthcare Sector, wherein the Company's subsidiary, Aspen Glove Sdn. Bhd., has since significantly scaled down its operations, as announced by the Company on 8 June 2022.

AGSB had also recorded an impairment on plant and equipment. The Group's other business sectors were also impacted by the various restrictions which were in place during the pandemic phase of Covid-19, the persisting global supply chain disruptions, the severe shortage of labour, surges in raw material and ingredient prices and increased operating costs.