The board of directors of HKE Holdings Limited informed the shareholders of the Company (the Shareholders) and the potential investors that, based on the information currently available to the Board, including the latest unaudited consolidated management accounts of the Group, the Board preliminarily estimates that the Group is expected to record a decrease in its unaudited consolidated net profit of about 50% for the six months ended 31 December 2019 as compared to that of approximately SGD 1.4 million for the six months ended 31 December 2018, which was due to a decrease in revenue as a result of delay in tendering processing of several sizeable tendered projects and delay of work order for few projects.