The board (the "Board") of directors (the "Directors") of Optima Automobile Group Holdings Limited informed the shareholders of the Company (the "Shareholders") and potential investors that, based on the preliminary review of the latest unaudited consolidated management accounts of the Group for the year ended 31 December 2019, the Group is expected to record a loss before income tax expense for the year ended 31 December 2019 of approximately SGD1.8 million, as compared to a profit before income tax expense of approximately SGD0.1 million for the year ended 31 December 2018.