ZACD Group Ltd. Provided consolidated earnings guidance for the year ended December 31, 2018. The company group is expected to record a significant decrease in its consolidated net profit after tax (before listing expenses) for the year ended 31 December 2018 of approximately 70% to 80% as compared to that for the year ended 31 December 2017. The expected decrease was mainly attributable to (i) a decrease in revenue mainly in the investment management business segment as further elaborated below; (ii) an increase in staff costs as a result of business expansion; and (iii) an increase in professional and compliance fees subsequent to the listing of the company's shares on GEM. The decrease in revenue in the investment management business is mainly due to the following: Majority of investment management fee derived from the successful partial exit of its investment property at 7000 Ang Mo Kio Avenue 5 was realised in the Financial Year 2017, leaving only a residual portion of investment management fee income was realized in the Financial Year 2018; Delay in timing of distributions by its project developer partners, who the company did not have control over, for two profitable projects in Singapore, namely MEGA@Woodlands and Vue 8 Residence; Due to intense competitive bidding environment where the Group had participated in tenders or sales for land parcels and/or real estate assets for five residential and commercial developments in Singapore and three residential and commercial developments in Australia while the Group only managed to successfully secure one residential development in Singapore at the desired price for its investors, resulting in the decrease in fund establishment fee income due to lesser number of fund launches in the Financial Year 2018; and The imposition of higher Additional Buyer's Stamp Duty by the Singapore Government on residential property purchases made on or after 6 July 2018 that had adversely affected investors' sentiment and prolonged fundraising efforts that resulted in longer closure of its funds in the Financial Year 2018 where its investment management fees are realized upon successful closure of the desired fund size.