Beng Soon Machinery Holdings Limited announced earnings guidance for the six months ended June 30, 2020. For the period, the Group is expected to record a loss after income tax of approximately SGD 9 million, as compared to a profit after income tax of approximately SGD 0.8 million for the corresponding period in 2019. The expected loss after tax was mainly attributable to the significant negative impact of the outbreak of COVID-19, which resulted in the delay or suspension of the Group's projects; the Singapore Government's implementation of the circuit breaker preventative measures to pre-empt the local transmission of COVID-19 since April 2020; and the plummet in the price of salvage materials due to its diminished demand in Singapore and other countries such as Mainland China as a result of the adverse market conditions during the period, which collectively affected the Group's revenue, business and financial results.