The Board of Directors of Singapore eDevelopment Limited has reviewed the preliminary unaudited financial statements of the Group for the financial year ended 31 December 2019 and the Group expects to report a loss for 2019, principally due to the factors: the Group's property development project in Houston, Texas (the "Black Oak Project") has been generating revenue from the sale of the properties but the sale of 124 lots located in the Black Oak Project were sold at a lower margin as compared to the Ballenger Run Project. This resulted in an overall decrease in the profit margin of the Group's property development business; the impairment on the book value of the Black Oak Project; the expenses incurred for the Group's network marketing business were higher than the revenue generated; administrative and research and development expenses were incurred in respect of the Group's biomedical business; and the Group's investment business reported a fair value loss in respect of its investment securities.