Emerging Towns & Cities Singapore Ltd. provided earnings guidance for the year ended December 31, 2023. The group advised shareholders that the Group is expected to report a loss for the financial year ended 31 December 2023 ("FY2023"), based on a preliminary review of the unaudited financial results of the Group for FY2023. The expected loss is mainly attributable to the following: higher selling and distribution expenses mainly due to higher sales commission expenses in the Golden City project in FY2023; higher administrative expenses mainly due to higher foreign exchange losses incurred in the Golden City project in FY2023; and higher finance costs mainly due to higher financing expense on borrowings and late payment charges incurred on trade payables in the Golden City project in FY2023.