BGMC International Limited provided unaudited consolidated earnings guidance for the year ended September 30, 2019. The company group expects to record a loss and total comprehensive loss attributable to the equity holders of the company for the reporting year, as compared to a profit and total comprehensive income attributable to the equity holders of the company of approximately MYR 1.4 million for the corresponding financial year ended 30 September 2018. Based on the information currently available to the Board, the expected turnaround from Profit Status to Loss Status for the Reporting Year was mainly attributable to a substantial decrease in the revenue and consolidated net profit which is due to, among others, (i) an increase in material costs due to the implementation of the new indirect tax system under the Sales Tax Act 2018 and Service Tax Act 2018, a switch from the previous system under Goods and Services Tax Act 2014; (ii) compressed projects margin as a result of a more competitive tender process caused by the subdued local property market; and (iii) impairment of certain long overdue contract assets.