The Boards of Associated International Hotels Limited and Tian Teck Land Limited announced that, based on a preliminary review of the management accounts of the TTLL Group and the AIHL Group respectively, it is expected that the TTLL Annual Results and the AIHL Annual Results will both record a loss before taxation as compared to a profit before taxation for the year ended 31 March 2019, mainly attributable to the increase in valuation losses in respect of their investment properties. Valuation losses on investment properties will only affect the accounting profit or loss but not the cash flow of both the TTLL Group and the AIHL Group. It is expected that there will be a slight decrease in the results arising from the normal business operations of both the TTLL Group and the AIHL Group for the year ended 31 March 2020.