OTS Holdings Limited provided consolidated earnings guidance for the financial year June 30, 2023. For the period, the company expected to report a consolidated net loss compared to a net profit for the preceding financial year ended 30 June 2022. The loss is mainly attributable to lower revenue for FY2023 due to slower product offtake in Malaysia, share of losses and impairment charges in relation to Delta Bridge Pte.

Ltd., 50% joint-venture company in Indonesia, lower government grants recognised and higher foreign exchange losses mainly arising from the weakening of the Malaysian Ringgit against the Singapore Dollar. Our Indonesian manufacturing plant was temporarily shut down during the year due to shortage of raw material caused by the African Swine Fever detected in pigs in Bulan, Indonesia. As a result of the shutdown, the Group also had to recognise impairment charges in relation to Delta Bridge Pte.

Ltd.