Pine Capital Group Limited provided group earnings guidance for third quarter ended 31 December 2019. The Group is expected to report an increase in net loss for the quarter ended 31 December 2019 as compared to the quarter ended 31 December 2018. A significant part of the increase in net loss for third quarter of 2020 is attributable to the significant decline in revenue arising from the termination of the management agreement with Advance Opportunities Fund 1 (please refer to the Company's announcement on 21 March 2019) as well as the suspension of the Company's subsidiary, Advance Capital Partners Asset Management Pte Ltd. ("ACPAM"), from all fund raising and subscription activities. Furthermore, the Company's legal and administrative expenses have also increased pursuant to the Company's plans to resume trading.