Furniweb Holdings Limited had opened a retail store in Singapore and a 49%-owned store in Thailand in year 2019. The retail business was severely impacted by the COVID-19 since the beginning of year 2020 when the borders of countries were closed which led to a decrease in tourists arrival and resulted in deterioration of overall consumers' spending. The efforts of sales promotion, cost saving as well as rental concessions from landlords did not achieve the expected results. In view of the prolonged COVID-19 pandemic and closure of borders, the retail business had experienced unprecedented difficulties in their operations and is unlikely to have major recovery in the short run. Therefore, the Board has decided to close the retail stores. The Group has reached an agreement with landlord of the retail store in Singapore on early termination and to waive the contractual liabilities on remaining lease payments and reinstatement of store. Therefore, the corresponding lease liabilities and provision for restoration costs were reversed during the Period.