CSC : Profit Guidance on Unaudited Financial Results For The Six Month Ended 30 September 2020

Financial Statements and Related Announcement::Profit Guidance	https://links.sgx.com/1.0.0/corporate-announcements/T3RYBMRRU...

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16-Oct-20, 5:27 PM

CSC HOLDINGS LIMITED

(Incorporated in the Republic of Singapore)

(Company Registration No.: 199707845E)

PROFIT GUIDANCE ON UNAUDITED FINANCIAL RESULTS

FOR THE SIX MONTH ENDED 30 SETEMBER 2020

The board of directors (the "Board" or the "Directors") of CSC Holdings Limited (the "Company", and together with its subsidiaries, the "Group") wishes to announce that based on the preliminary review of the draft unaudited consolidated financial results for the 6 months ended 30 September 2020 ("1HFY21"), the Group is expecting to report a net loss for 1HFY21.

The net loss is attributable to the outbreak of the COVID-19 pandemic. The imposition of Circuit Breaker ("CB") in Singapore from 6 April 2020 until 1 June 2020 has resulted in the cessation of work on all the Group's project sites in Singapore (approximately 2 months of the 6 months under review). The Group's operations in Malaysia have been similarly impacted since the imposition of Movement Control Order ("MCO") by the Malaysia government from 18 March 2020 until 3 May 2020 for the construction sector (approximately 1 month of the 6 months under review).

Post CB and MCO, there was a very slow and gradual resumption of work due to various control and safety measures imposed by the relevant government authorities. Consequently, the Group had recorded very low revenue in June 2020. However, for July 2020 to September 2020, majority of the Group's project sites have resumed work.

The above guidance is based on a preliminary assessment made by the Company, and is subject to review and finalisation by the Company's audit committee. The Company is in the process of finalising the Group's unaudited results for 1HFY21, and further details of the Group's performance will be disclosed when the Company announces its results for 1HFY21 on or before 14 November 2020.

Shareholders are advised to act cautiously when dealing with their securities in the Company and when doing so should consider the financial results of the Group for 1HFY21. If in doubt, about the action that they should take, shareholders should seek advice from their stockbrokers, bankers, solicitors, accountants, tax advisers or other professional advisers.

By Order of the Board

CSC HOLDINGS LIMITED

Lee Quang Loong

Company Secretary

16 October 2020