The Board of Lippo China Resources Limited estimated that the group is likely to record a share of loss of associates of not less than HKD 40 million for the year ended 31 March 2020 (the "Year"), as compared to a share of loss of associates of approximately HKD 9.2 million for the year ended 31 March 2019. Such loss was mainly attributable to the fair value loss of the investments of TIH during the Period due to the adverse effects of the COVID-19 pandemic.