Hon Corporation Limited provided consolidated earnings guidance for the three months ended March 31, 2019. For the quarter, the Group is expected to record a significant decrease in profit before listing expenses as compared with that of approximately $1.29 million before listing expenses for the three months ended March 31, 2018. Such decrease was mainly attributable to- a significant decrease in revenue for the Reporting Period of around 30% due to the substantial completion of a major building and infrastructure project, project international school, during the third quarter of the financial year ended December 31, 2018, and the two newly awarded major building and infrastructure projects of the Group during the Reporting Period with an aggregated contract sum of $63.7 million have just commenced works in February and March 2019, respectively; a decrease in gross profit margin due to the generally lower profit margins of work performed on term contracts during the reporting period as compared to that in the corresponding period in 2018; and increasing competition in the building and construction industry in Singapore which resulted in lower profit margins for the projects in 2019.