The Board of Directors (the "Board" or "Directors") of Serrano Limited updated the Shareholders that from 7 April 2020 to 4 May 2020 (inclusive), the Group's operations will be suspended due to the COVID-19 circuit breaker ("Circuit Breaker") mandating the closure of non-essential services that cannot be conducted through tele-commuting. The Group have applied through GoBusiness COVID portal to request for general exemption for 2 weeks as the Company would need to manage its subsidiaries, which includes, inter alia, approving payments to suppliers and its agents, including physical sighting and signing of documents and cheques. The Singapore government's support through the Solidarity Budget will cushion much of the impact from the Circuit Breaker and the Group is also preparing the projects' schedule to expedite the project works once the Circuit Breaker measures has ended. Accordingly, the Company does not expect the Circuit Breaker to have any material financial impact on the Group's financial performance for the current financial year ending 31 December 2020.