Aspen (Group) Holdings Limited provided earnings guidance for the six months ended December 31, 2021. The group announced based on its preliminary review and assessment of the information currently available to the Board, including the unaudited consolidated financial statements of the Group for the six months ended 31 December 2021 the Group is expected to report a consolidated net loss for half year of 2022. The expected loss for HY2022 is attributable mainly due to the unprecedented business disruptions caused by the Covid-19 pandemic to the operations of the Group.

For the Property Development sector, the temporary halt of the construction works of the Group's ongoing projects, namely Vivo Executive Apartment and Viluxe, to comply with the Full Movement Control Order imposed by the Government of Malaysia to curb the spread of the Covid-19 infection in the country, as well as the severe supply chain disruptions and unskilled foreign labour shortage due to the temporary entry ban to Malaysia, has severely impacted the construction progress. This was further compounded by the tight Covid-19 Standard Operating Procedure ("SOP") set by the Government of Malaysia on the resumption of construction activities.