The Board of Directors ("Board") of LifeBrandz Ltd. issued a profit guidance in respect of the financial results of the Group for the full year ended 31 July 2020. Following a preliminary assessment of the Group's unaudited financial results for the fiscal year 2020, the Group is expected to report a loss for the fiscal year 2020 due mainly to: The impact of the COVID-19 pandemic on the F&B business in Singapore, the United States and Thailand and the Travel Business in Japan; and the impairment losses on the Group's fixed assets and right-of-use ("ROU") assets mainly due to the closure of Hashida Sushi and Sushi Nagai.