Debao Property Development Limited referred to the company's announcement dated September 24, 2019 in relation to the payment of a tax exempt (one-tier) final dividend of 2.00 Singapore cents per ordinary share for the financial year ended December 31, 2017 by the company. The Board informed shareholders of the company that the payment of the fiscal year 2017 Final Dividend will be further delayed for the following reasons: the Disposal has not been completed. The company is currently in negotiations with potential buyers and expects to complete the Disposal by the end of the financial year ending December 31, 2021; and (b) to meet with payment schedules. The company intends to use its current available cash of RMB 20 million to fund the construction costs of the development project, Bay ONE, which amounting to RMB 27.1 million by end of June 2021. This is to ensure there will be no disruption on the targeted sale plan of the Bay ONE Project. Sales from the Bay ONE Project is expected to increase in the second and third quarter of the financial year ending December 31, 2021. Accordingly, the company intends to make payment of the fiscal year 2017. Final Dividend from the proceeds of the abovementioned sale by the third quarter of the financial year ending September 30, 2021. The company will make timely updates on the payment of the fiscal year 2017 final dividend accordingly.