Pacific Star Development Limited provided financial guidance for first quarter of 2020. The company expected to report a net loss for the financial quarter from 1 July 2019 to 30 September 2019. Based on the preliminary review of the group's draft financial results for first quarter 2020, the losses have arisen mainly as a result of challenging market conditions which impacted the sales of Puteri Cove Residences and higher finance costs associated with the $70 million facility obtained from a group of third parties in the second quarter of financial year 2019.