Directel Holdings Limited anticipated that the Group would record a substantial loss of not less than HKD 50 million attributable to equity shareholders of the Company for the year ended 31 December 2019 as compared to the loss attributable to equity shareholders of the Company of HKD 1,778,000 for the year ended 31 December 2018. The anticipated substantial increase in loss was primarily attributable to (i) the impai rment losses on goodwill and intangible assets of not less than HKD 30 million of the Joint Top Group; (ii) an increase in fair value change of approximately HKD 2.6 million on contingent consideration payables for the acquisition of the Joint Top Group; (iii) a substantial increase in impairment losses of trade and other receivables for Year 2019 by not less than HKD 5 million compared to HKD 218,000 for the Last Period; (iv) a significant decrease in revenue generated from the provision of telecommunications services in Hong Kong by approximately 50% as the Group was unable to secure new contracts with committed subscription with distributors during Year 2019 for the 4G products which in turn led to a gross loss in this segment; and (v) an increase in maintenance fees by approximately 70% in Year 2019 compared to the Last Period.