The board of directors of MTQ Corporation Limited advised that based on the preliminary assessment of the information available to the Board including the unaudited management accounts of the Group and prevailing market conditions of the industries the Group operates in amidst the COVID-19 pandemic, the Group is likely to recognise a goodwill impairment charge ("Impairment") and certain provisions ("Provisions") primarily with respect to the Premier Group cash-generating unit. The Impairment and Provisions will result in an accounting loss for financial year 2021. Excluding these non-cash charges, the group is expected to be profitable for financial year 2021 and to remain in net cash position as at 31 March 2021 nonetheless.