GL Limited announced the shareholders of the Company that the Group is expected to report a net loss for fiscal year 2020. The losses are primarily due to: a. The COVID-19 pandemic that has resulted in widespread international travel restrictions and severely disrupted the Group's UK hospitality business led by its wholly-owned subsidiary, GLH Hotels Limited; b. potential impairment losses attributable to the Group's hotel assets and development property; and c. lower income from the Group's Bass Strait oil and gas royalty interest compared to the previous corresponding period, driven by significantly weaker crude oil prices that reflected an unprecedented situation of an oversupply exacerbated by the impact of COVID-19 on global demand.