The board of directors of Hon Corporation Limited announced that, based on the information currently available to the Board and the preliminary assessment of the Group's unaudited consolidated management accounts for the year ended 31 December 2020 (the ``FY2020 Management Accounts''), which is subject to further review, the Group is expected to record a net loss of not less than SGD 59.0 million for the year ended 31 December 2020 as compared with the net loss of approximately SGD 5.7 million for the year ended 31 December 2019.