Emerging Towns & Cities Singapore Ltd. provided earnings guidance for the full year ended December 31, 2020. The Group is expected to report a loss for the full year ended 31 December 2020. The company is in the process of finalising the valuations on the Group's investment properties as at December 31, 2020. Based on indicative values, the company expects to recognise fair value losses on the Group's investment properties at the Golden City project, which are non-cash in nature; and lower revenue recognized for the sales of Golden City property units in financial year 2020. This profit guidance is based on a preliminary review of the unaudited financial results of the Group for financial year 2020. The company is still in the process of finalising the results of the Group for financial year 2020 and further details of the Group's financial performance for financial year 2020 will be disclosed when the Group announces its financial results for financial year 2020 on or about February 25, 2021.