Link Holdings Limited provided consolidated earnings guidance for the three months ended 31 March 2020. Based on the information currently available to the Board and the unaudited consolidated management accounts of the Group for the three months ended 31 March 2020 (the "Period"), the Group is expected to record a loss attributable to owners of the Company of not less than HKD 11 million (three months ended 31 March 2019: profit of approximately HKD 1.8 million). The record of such loss for the Period was mainly due to, among others, (i) the recognition of negative revenue from the Group's distressed debt assets (i.e. income from distressed debt assets classified as receivables less modification loss) as compared to the positive revenue recorded for the corresponding period in the last year; (ii) the incurring of operating loss for the Group's hotel business in Singapore as a result of the decrease in revenue as compared to the corresponding period in the last year amid the COVID-19 pandemic during the Period; and (iii) the incurring of operating loss for the Group's hotel business in Japan during its initial stage of operation amid the COVID-19 pandemic.