The Board of Directors of GYP Properties Limited provided an update on the Group's business operations in New Zealand following the NZ Government's announcement on 23 March 2020 that they will move NZ's coronavirus alert level to 4 with effect from 11.59pm NZ time on 25 March 2020 where all non-essential businesses or services will be closed for the next four weeks. As a result, the Group's retail centre in NZ, Pakuranga Plaza, will be closed during this period except for supermarket and pharmacy which will remain open as they are considered essential businesses. The Group's development activities for the Remarkables Residences project in Queenstown and Bellfield project in Papakura will halt during this period.