Lippo Limited board of directors of the Company estimated that the Group is likely to record a loss attributable to shareholders of not less than HKD 100 million for the year ended 31 March 2019 as compared to a profit of approximately HKD 92 million (restated following the completion of purchase price allocation exercise in respect of the Group's acquisition of an associate) for the year ended 31 March 2018. Such change was mainly attributable to higher net fair value loss on financial instruments at fair value through profit or loss due to the volatile stock markets and share of loss from its joint ventures, offset by the gain on disposal of subsidiaries during the Year.