Based on a preliminary assessment of United Industrial Corporation Limited's unaudited financial results for the half year ended 30 June 2020, the Board of Directors announced that the Group expects to report an accounting loss for the half year ended 30 June 2020 primarily due to the adverse change in the fair value of the Group's investment properties. Notwithstanding the impact of the COVID-19 pandemic on the Group's operating performance for the half year ended 30 June 2020, the Group is expecting to record an attributable profit from operations before taking into the account the fair value losses from investment properties. The overall financial position of the Group remains healthy with a low net gearing ratio of 5%. The Group also has sufficient liquidity with unutilised credit facilities exceeding $1.5 billion in aggregate.