FSM Holdings Limited provided unaudited consolidated earnings guidance for the Group for the year ended 31 December 2020. For the year, the company expects would record a loss attributable to the owners of the Company in the range of approximately SGD 2.5 million to approximately SGD 3.5 million for FY2020 compared to a profit attributable to the owners of the Company of approximately SGD 59,000 for the year ended 31 December 2019. Such adverse change is primarily attributable to (i) the decrease in gross profit of its manufacturing business due to downward pressure on the gross profit margin of its manufacturing segment as a result of the adverse impact by the COVID-19 pandemic in FY2020; and (ii) staff and other costs incurred in developing and operating the new mobile game of its new online business in FY2020.