S&T Holdings Limited provided preliminary earnings guidance for the year ended 30 September 2020. The company group expects to record a revenue within the range of approximately SGD 39 million to SGD 41 million for the year ended 30 September 2020, and a net loss within the range of approximately SGD 13 million to SGD 16 million for the year ended 30 September 2020. Such expected decrease is mainly attributable to: (i) the material adverse impact from the outbreak of the novel coronavirus ("COVID-19") global pandemic that took place in early 2020, in which the circuit breaker (the "Circuit Breaker") measures being imposed by the Singapore Government effective from 7 April 2020 to 1 June 2020 (both dates inclusive) to combat the local transmission of the novel coronavirus in Singapore. Majority of the Group's projects were halted during the Circuit Breaker period. After the Circuit Breaker period, the Group's operations did not immediately resume to its normal level as the construction works in Singapore were resumed gradually in phases under the regulation of the Building and Construction Authority in Singapore. As such, the Group's projects that were expected to commence after the Circuit Breaker period for the year ended 30 September 2020 were delayed due to the impact of the COVID-19 outbreak. Meanwhile, the Group had to afford costs for direct labour which include staff costs and rental expenses for dormitories during the Circuit Breaker period while also having to meet additional and controlled safe restart measures for each of the Group's projects; (ii) some of the sizable projects of the Group were substantially completed in the end of 2019 and fewer projects awarded in the year ended 30 September 2020 as compared to the corresponding year ended 30 September 2019; and (iii) increase in impairment of expected credit loss in the Group's receivables given current market environment and management's expectation of receivables collectability impacted by current economic downturn. The board also informed the shareholders and potential investors of the company that the Group identified over-estimation of construction costs accruals as at 30 September 2019 which impacted the Group's consolidated statement of financial position as at 30 September 2019 and consolidated statement of profit or loss and other comprehensive income for the year ended 30 September 2019. Such impact is currently being determined and finalized.