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2 4 5 8 28 30 37 44 46 51 61 67 75 78 81 84 90 92 99 116 122 123 188 194 196

1 3 2 4 9 1 2005/2006 MerComm, Inc. 2006/07 2006/2007 2006/2007 2006/2007 2006/2007 2 3 2007 4 2006 2006 2006 2006 2

6 7 8 5 4 5 6 7 2006/07 8 TVB2007 9 2006 2006 3

2007 9 17 1,190 2,850 31.36% 67.94% 44.21% 39.06% 43.81% 4

2007 2006 % 1 9,817.7 13,548.7-27.5 1 2 5,882.8 5,268.2 +11.7 1 92,219.1 77,964.1 +18.3 1 3 98,969.5 83,720.7 +18.2 4 8,750.1 13,035.4-32.9 1 9.49% 16.72% -7.23 pp 5 1 3 8.84% 15.57% -6.73 pp 5 % 1 5.19 7.47-30.5 1 2 3.11 2.90 +7.2 1 1.10 1.05 +4.8 1 47.47 42.96 +10.5 1 3 50.94 46.13 +10.4 1 2 3 6,750,400,000 5,756,600,000 3.47 3.17 4 5 pp 5

9 27.5%5.19 7.47 11.7% 3.11 2.90 27.7% 2.612.13 22.5% 18.3% 9.5% 16.7%

5% 1,1431,073 64% 68% 130% (%) 1. 18 97,133 165,358 45.00 74,411 2. 38 130,523 1,109,424 46.12 26.19 451,466 34,178 3. 163 19,050 241,663 100.00 241,663 4. 1221740 78,781 61,138 100.00 61,138 862,856 97,133 78,781 10

203 72% 598 3,341 (%) 1. 28 283,200 226,561 100.00 48 164,667 2. 1 228,154 182,545 100.00 48 145,849 3. 1-98 168,392 241,113 61.79 28 62,472 4. 933 16,744 138,373 100.00 24 19,795 5. 57 66 359,883 2,932,813 24.63 30 25,084 6. 8 228,595 1,714,463 65.68 29 21,609 7. 3 17,297 159,212 100.00 41 26,198 8. 38 131,321 1,410,629 63.10 167 185,070 9. 39 10,405 86,023 75.00 17 11,424 10. 39,148 319,066 25.00 32 29,150 11. 18 97,133 485,620 45.00 220 179,709 11

(%) 12. 108 26,903 276,971 100.00 46 59,619 13. 250 6,808 54,810 18.13 76 47,813 14. 1 15,824 63,666 100.00 37 35,208 15. 38 130,523 1,109,424 46.12 26.19 639 525,737 16. 8 396,434 836,868 100.00 503 347,947 17. 23 982,376 1,165,240 90.10 246 775,588 2,231 2,662,939 2,021,702 12

(%) 1. 23 982,376 1,165,240 90.10 122 330,800 2. 231 45,779 228,821 100.00 362 228,821 3. 33 9,600 84,156 100.00 108 68,284 4. 122 1740 78,781 78,781 100.00 60 78,781 5. 500 35,629 320,659 100.00 400 267,216 6. 76 42,884 34,000 100.00 54 34,000 7. 11-12 43,492 32,619 44.42 4 32,619 1,110 1,040,521 989,642 3,341 3,703,460 3,011,344 982,3761,165,24025% 231 229,000 76 54 34,000 290,000 14-30 92.31% 181,602 13

1. (%) 15,847 181,602 92.31 2. 14,700 73,355 100 3. 76 42,884 34,000 100 288,957 180 3,170 1,000 800 300 15.3 94% 25.6% 95% 20,000 14

223 95% 100 223 92% 80% 1,445 15

190 76,000 17,000 224 154% 3,669 250 530 3,300 920 16

420 155 100 280 Coal Harbour 400 1,010 1,550 570 89 820 680 155 70 17

170 50 70 170 440 280 1,260 270 170 23% 77% 19010 155 18

19 145 31.36% 44.21% 38.55%39.06% 5.00 67.94% 47.0% 127.1% 88.1 38.55% 39.06% 1.5 195.2

20 38.55% (I) 1.9% 3.2% 0.2% 1,631,302 24,461 (II) 13 70 (III)

(IV) 31.36% 76% 96% 36% 222 6 21

44.21% 18% 13% 34% 90% 17% 8% 60% 90% 70% 290 70 8% 44% 22

23 4.5% 129 43.05 128,000,000 128,000,000 7.05% 6.59% 9.5%

24 33 9-11 52 223 100 960 1.5

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180 3,170 22.2 3.6 3.4 2.5 31.7 1,000 800 300 9% 6% 23% 41% 21% 29

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500 100% 35,629 320,659 400 38 76 100% 42,884 34,000 54 11-12 44.42% 43,492 32,619 4 32,600 54 15 32

22388.5% 91,042 1,092,502 100 130,000 78 100% 10,000 119,992 120,000 223 223 52 100% 11,375 125,037 125,000 1 70% 15,393 189,383 22 190,000 9-11 100% 10,450 125,399 125,000 712 100% 18,051 216,590 216,000 33

1 2 231 3 33 4 122 1740 5 6 76 7 11-12 8 223 9 78 10 52 11 12 9-11 13 712 22 23 24 25 26 27 28 29 14 15 16 17 18 19 20 21 28 34

35 4 2 14 9 11 13 6 10 12 8 16 21 20 17 18 19 22 5 3 15 23 24 25 26 27 29 1 7

223 223 /

860 94% 860 49% 55% 19% 15.3 94% 25.6% 430 4.00 3.00 0.3 0.8 0.4 0.3 0.2 95% 2.00 2.3 3.5 1.00 0.00 0.8 37

20,000 250 95% 100 223 70 92% 38

110 36 2895 100.00 108,214 108,214 49 170 188 2050 100.00 21,842 134,450 156,292 308 320 98-116 2865 100.00 31,987 182,373 214,360 24 2038 ( 1) 100.00 114,300 114,300 10 183 2047 94.56 21,123 463,412 484,535 242 1 2047 38.35 50,291 300,848 351,139 136 (55,56 77 88 ) 8 2047 38.35 195,159 632,871 828,030 365 8 2047 38.35 203,275 203,275 (4, 18, 20 32 ) ( 2) 100.00 54,974 54,974 108 2072 100.00 16,084 16,084 64 39

610 2047 33.33 33,511 64,422 97,933 555 2060 100.00 28,656 84,626 113,282 29 2047 100.00 150,212 150,212 1 15 18 29 9 2047 100.00 158,993 158,993 40 8 2047 100.00 175,447 175,447 20 579 579 2037 100.00 7,805 18,810 26,615 3 2054 100.00 25,979 25,979 72 79 2023 100.00 172,117 172,117 76 33 2047 100.00 151,513 151,513 302 88 2047 60.00 94,657 94,657 130 C 2047 100.00 292,264 292,264 164 2047 100.00 195,280 195,280 78 210526 2047 40.00 9,566 ( 3) 9,566 151 I 68 2047 74.96 138,555 156,981 295,536 100 II 145 165 2047 100.00 155,022 155,022 127 88 2047 100.00 154,259 154,259 104 2 16 2047 100.00 100,029 100,029 545 21 27 2047 77.55 114,730 114,730 103 A B 18 2047 100.00 9,305 9,305 C D 22 2047 50.00 5,118 5,118 N, P, Q R 8 2047 100.00 58,881 58,881 196 40

18 2047 100.00 532,637 532,637 831 628 2047 100.00 79,642 79,642 234 1 2047 100.00 140,341 140,341 51 1 2047 100.00 35,186 35,186 23 2047 100.00 87,766 87,766 8 2047 100.00 956,849 956,849 669 8 2047 100.00 266,954 266,954 232 20 2047 20.00 92,536 32,280 124,816 233 23 2047 90.10 164,682 164,682 134 8 2052 100.00 30,139 30,139 308 476,171 3,841,402 2,126,047 1,063,333 7,506,953 5,766 2854 2856 41

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 579 17 18 19 20 21 C 22 23 24 I 25 II 26 27 28 29 A B 30 C D 31 N, P, Q R 32 33 34 35 36 37 38 39 40 41 39 22 41 21 42

43 40 2 3 12 24 11 8 4 13 18 14 15 7 6 5 16 9 1 10 17 19 20 23 35 37 38 30 31 33 32 29 27 28 25 26 34 36

80% 598 1,445 ISO 14001:2004 44

2006 190 76,000 17,000 2006 2006 45

2,000 8 450 2,500 80,000 38 46

2005 Natalie Glebova e-living Corner 23 Natalie Glebova Natalie Glebova 47

2007 60 38 108 48

49 TVB 2007 2007 Natalie Glebova 12,000 Paua Spa

31.36% 44.21% 38.55% 5.00 67.94% 47.0% 127.1% 88.1 38.55% 1.5 195.2 51

52 (38.55%) 0003www.towngas.com ( 43.90%) 1083www.panva-gas.com (I) 24 3,236 85% 34 25

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 35 33 34 27 30 31 26 28 29 24 25 15 10 12 19 21 16 13 22 11 9 36 8 7 18 14 17 20 23 32 8 14 36 1 4 6 2 5 3 (II) 43.97% 6011 53

(III) 19 45% 15.8% 50% 73% 54

(I) 1.9% 3.2% 0.2% 1,631,302 24,461 (II) (IV) 13 70 (III) 55

() 31.36% 0050 www.hkf.com 851 250,000 222 6 320,000 165,000 129 76% 96% 36% 222 6 56

44.21 % 0071 www.miramar-group.com 25%30% 50 525 100 18 57

80290 70 53.85% 18% 34% 90% 17% 8% 60% 90% 70% 13% 58

80290 70 8% 44% 59

688

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77.7 76.6 11.4 11.2 11.4 11.2 1.0 1.0 101.5 100% 62

100% 2,100,000 688 100% 700,000 130-2 100% 400,000 147 100% 400,000 155 100% 700,000 80% 1,700,000 91% 7,100,000 100% 2,500,000 63

100% 5,200,000 50% 16,800,000 100% 4,200,000 100% 15,500,000 100% 5,700,000 64

100% 4,100,000 100% 2,800,000 80 100% 15,000,000 100% 700,000 65

100% (building information modeling) (Autodesk) 67

147 130-2 688 100% 15% 130 2100% 147 100% 68

155 100% 80% 91% 155 69

100% 100% 50% 30,000 70

100% 100% 100% Aedas Architects 71

100% Coal Harbour 100% 72

100% 100% 73

* 2.1 1.7 3.8 1.3 1.4 2.7 688 0.7 130-2 0.4 147 0.4 155 0.7 1.2 4.2 1.5 0.5 1.7 11.3 * 74

(%) 100 1.1 75 0.3 100 1.0 2.4 100 0.7 0.7 3.1 75

100% 25% 75% 37.5% 75% 100% 80% 76

100% Callison Adidas TESCO 98% 145 77

57 1,254 1,412 78

2006 2007 6 79

2007 2009 2009 2009 2007 2009 81

A4 2006/2007 2007 1 2006 82

2007 2007 Roadmap to Hong Kong Success ( ) 2006 2003 2006 2006/07 83

4,658.3 2,708.6 1,564.7 1,354.1 2,483.9 2,261.0 1,592.6 1,370.6 94.3 114.6 82.2 115.0 101.1 856.4 11.7 1.3 188.7 136.4 130.7 81.8 132.8 134.5 41.6 48.2 696.8 561.5 130.4 72.9 8,355.9 6,773.0 3,553.9 3,043.9 9,817.7 13,548.7 5,882.8 5,268.2 5.19 7.47 3.11 2.90 84

1,582,900,000 23.4% 8,355,900,000 6,773,000,000 3,553,900,000 3,043,900,000 510,000,000 16.8% 9,817,700,000 13,548,700,0003,731,000,00027.5% 5.19 7.47 4,345,600,000 5,882,800,000 5,268,200,000614,600,00011.7% 3.11 2.90 938,000,000 352,400,00010 585,600,000 1,395,500,000 650,700,000 829,600,000 84,800,000 4,944,800,000 1,072,100,00027.7% 2.61 2.13 22.5% 4,658,300,000 2,708,600,000 1,949,700,000 72.0% 1,564,700,0001,354,100,000 210,600,000 15.6% 2,483,900,000 2,261,000,000 222,900,000 9.9%(i (ii) 1,592,600,0001,370,600,000 222,000,000 16.2% 3,148,200,000 2,730,000,000 418,200,000 15.3% 85

94,300,000114,600,000 20,300,000 17.7% 82,200,000115,000,000 32,800,00028.5% 88.2% 101,100,000856,400,000 188,700,000136,400,000 52,300,00038.3% 48,900,000 59.8% 130,700,000 81,800,000 41,600,00048,200,000 696,800,000561,500,000135,300,00024.1% 57,500,00078.9% 130,400,000 72,900,000 4,058,000,000 2,534,800,000 1,523,200,00060.1% 578,900,000 745,400,000 3,479,100,000 1,789,400,000 1,689,700,000 94.4% 3,772,400,000 2,380,100,000 1,392,300,000 58.5%478,100,000 653,600,000 3,294,300,000 1,726,500,000 86

1,567,800,00090.8% 3,653,100,000 3,805,300,000152,200,0004.0% 2,328,300,000 2,766,800,000 1,324,800,0001,038,500,000 286,300,00027.6% 507,700,000496,200,000 482,100,000 381,300,000 4.68% 4.47% 1,981,400,000 7,297,000,000 12,072,600,000 (i) (ii) 67.94% 352,400,000 (i) (ii) 43.05 128,000,000 5,508,000,000 13,350,000,000 17,350,000,000 87

325,000,000 2,533,000,000 50,000,000 779,400,000 18,270,100,00020,694,500,000 99.8% 99.7% 3,007.4 7,029.2 1,324.9 3,848.5 13,937.8 6,085.0 3,731.8 18,270.1 20,694.5 (9,520.0) (7,659.1) 8,750.1 13,035.4 92,219.1 77,964.1 (%) 9.5% 16.7% 16.7% 9.5% 8,961.3 7,397.0 953.4 843.2 9.4 8.8 88

325,000,000 50,000,000 1,099,300,000 7,652,200,0007,264,700,000 57,400,0002,088,300,000 7,2006,800 1,100,800,000 1,005,000,000 89

2003 2004 2005 2006 2007 1 2,032.6 6,173.3 10,852.8 13,548.7 9,817.7 1 2 2,032.6 3,062.3 4,412.8 5,268.2 5,882.8 3 34,561.0 40,509.9 46,436.4 56,868.0 52,830.7 14,533.8 14,248.9 14,700.7 16,962.6 20,536.3 6,068.0 12,019.2 13,395.9 16,026.1 11,167.9 18,131.7 17,737.2 19,090.1 21,036.0 29,382.8 4 9,037.3 7,196.1 11,843.0 13,035.4 8,750.1 1 52,929.0 58,483.9 65,637.7 77,964.1 92,219.1 1 17.07% 12.30% 18.04% 16.72% 9.49% 1 1.18 3.46 5.98 7.47 5.19 1 2 1.18 1.71 2.43 2.90 3.11 1 0.80 0.90 1.00 1.05 1.10 1 30.73 32.23 36.17 42.96 47.47 1 2 3 4 90

2003 2004 2005 2006 2007 2003 2004 2005 2006 2007 3.50 50.00 3.00 2.50 2.90 3.11 40.00 42.96 47.47 2.00 1.50 1.71 2.43 30.00 20.00 30.73 32.23 36.17 1.00 0.50 1.18 0.80 0.90 1.00 1.05 1.10 10.00 0.00 0.00 2003 2004 2005 2006 2007 18.00 18.04% 16.00 17.07% 16.72% 14.00 17% 12.00 10.00 12.30% 76% 7% 8.00 9.49% 6.00 4.00 2.00 0.00 91

A) B) C) a) 92

b) 3.13 A.2.1 c) 93

d) i) ii) D) a) 94

b) 16116 95

c) 1 4/5 N/A 1/1 1 4/5 N/A N/A 5/5 N/A 1/1 1 4/5 N/A N/A 5/5 N/A N/A 5/5 N/A N/A 5/5 N/A N/A 5/5 N/A N/A 1 4/5 N/A N/A 5/5 N/A N/A 1 3/5 N/A N/A 5/5 N/A N/A 0/5 N/A N/A 2 4/5 N/A N/A 5/5 3/3 N/A 4/5 N/A N/A 1 3/5 N/A N/A 5/5 3/3 1/1 5/5 3/3 1/1 5/5 3/3 1/1 1. 2. 96

E) F) 0.7 2.9 0.1 3.7 G) H) 97

I) http://www.hld.com 98

7,900,000 (2006 34,255,000 ) (a) 99

43.05 128,000,000 128,000,000 46.05 6.5% 7.05%43.031 161 16 100

116 352 XV 1 1,122,938,300 1,122,938,300 57.81 1 1,122,938,300 1,122,938,300 57.81 1 1,122,938,300 1,122,938,300 57.81 1 1,122,938,300 1,122,938,300 57.81 2 110,000 110,000 0.01 3 30,000 30,000 0.00 4 42,900 19,800 62,700 0.00 5 1,000,000 1,000,000 0.05 6 2,000 2,000 0.00 7 34,779,936 2,076,089,007 2,110,868,943 69.27 7 2,076,089,007 2,076,089,007 68.13 7 2,076,089,007 2,076,089,007 68.13 7 2,076,089,007 2,076,089,007 68.13 8 6,666 6,666 0.00 9 1,001,739 1,001,739 0.03 10 3,548,791 2,428,665,950 2,432,214,741 40.14 10 2,428,665,950 2,428,665,950 40.08 10 2,428,665,950 2,428,665,950 40.08 10 2,428,665,950 2,428,665,950 40.08 11 55,000 55,000 0.00 12 7,799,220 111,732,090 119,531,310 33.55 12 111,732,090 111,732,090 31.36 12 111,732,090 111,732,090 31.36 12 111,732,090 111,732,090 31.36 13 150,000 150,000 0.04 14 465,100 465,100 0.13 15 2,250 2,250 0.00 101

16 255,188,250 255,188,250 44.21 16 255,188,250 255,188,250 44.21 16 255,188,250 255,188,250 44.21 16 255,188,250 255,188,250 44.21 17 2,705,000 2,455,000 5,160,000 0.89 18 850,202,901 850,202,901 43.90 18 850,202,901 850,202,901 43.90 18 850,202,901 850,202,901 43.90 18 850,202,901 850,202,901 43.90 19 8,190 8,190 100.00 A A 20 3,510 3,510 100.00 B B 21 35,000,000 15,000,000 19 8,190 A 20 3,510 B 21 15,000,000 50,000,000 8,190 A 3,510 B 15,000,000 8,190 100.00 100.00 100.00 30.00 19 8,190 100.00 A A 20 3,510 3,510 100.00 B B 21 15,000,000 15,000,000 30.00 19 8,190 A 20 3,510 B 21 15,000,000 8,190 100.00 A 3,510 100.00 B 15,000,000 30.00 102

Best Homes Limited 22 26,000 26,000 100.00 22 26,000 26,000 100.00 22 26,000 26,000 100.00 22 26,000 26,000 100.00 23 16,000 16,000 5.33 24 5,000 5,000 4.49 25 3,250 3,250 2.92 26 5,000 5,000 10,000 100.00 27 2,000 2,000 20.00 28 50 50 5.00 29 4,000 6,000 10,000 100.00 30 100 100 100.00 30 100 100 100.00 30 100 100 100.00 30 100 100 100.00 31 3,050* 3,050* 3,050 33.33 32 5 5 10 100.00 Pettystar Investment Limited 33 3,240 3,240 80.00 33 3,240 3,240 80.00 33 3,240 3,240 80.00 33 3,240 3,240 80.00 34 1 1 2 100.00 Quickcentre Properties Limited 35 25 75 100 100.00 * 103

336 Rimmer Cayman Limited 1 1,122,938,300 57.81 Riddick Cayman Limited 1 1,122,938,300 57.81 Hopkins Cayman Limited 1 1,122,938,300 57.81 1 1,122,745,800 57.80 Yamina Investment Limited 1 538,437,300 27.72 Believegood Limited 1 222,045,300 11.43 South Base Limited 1 222,045,300 11.43 Cameron Enterprise Inc. 1 145,090,000 7.47 Third Avenue Management LLC 136,450,100 7.02 Third Avenue Management LLCThird Avenue Value Fund 36 103,328,000 5.32 1. i 570,743,800 ii 7,962,100 iii 145,090,000 Cameron Enterprise Inc. 222,045,300 South Base Limited Believegood Limited 61,302,000 Jayasia Investments Limited Prosglass Investment Limited 55,000,000 Mei Yu Ltd. Fancy Eye Limited 55,000,000 World Crest Ltd. Spreadral Limited Cameron Enterprise Inc. South Base Limited Jayasia Investments Limited Mei Yu Ltd. World Crest Ltd. Yamina Investment Limited Yamina Investment Limited iv 5,602,600 Superfun Enterprises Limited 38.55% 67.94% 57.80% v 192,500 Hopkins Cayman LimitedHopkins Rimmer Cayman LimitedRimmer Riddick Cayman LimitedRiddick Hopkins Rimmer Riddick 2. 3. 104

4. 42,900 19,800 50% 5. 6. 7. 34,779,9362,076,089,007iKingslee S.A. Gainwise Investment Limited 802,854,200 602,398,418 363,328,900 217,250,000 84,642,341 ii 5,615,148 1 8. 9. 10. 3,548,791 2,428,665,950 itimpani Investments Limited Medley Investment Limited 1,274,927,055 532,647,502 ii 528,200,540 Macrostar Investment Limited iii 4,363,119 Yamina Investment Limited Boldwin Enterprises Limited iv 88,527,734 1 7 11. 12. 7,799,220 111,732,090 ipataca Enterprises Limited Graf Investment Limited Mount Sherpa Limited Paillard Investment Limited 23,400,000 ii 41,532,090 Max-mercan Investment Limited Wiselin Investment Limited Max-mercan Investment Limited Camay Investment Limited Camay Investment Limited 100% 1 13. 14. 15. 16. Aynbury Investments Limited Higgins Holdings Limited Multiglade Holdings Limited Threadwell Limited100,612,75079,121,50075,454,000 105

1 17. 2,705,000 2,455,000 50% 18. Hong Kong & China Gas China Limited 10 19. Hopkins 20. Hopkins 21. 35,000,000 15,000,000 22. i 10,400 ii 2,600 iii 13,000 Manifest Investments Limited Wealth Sand Limited Manifest Investments Limited 50%Firban Limited Wealth Sand Limited 70% Jetwin International Limited Perfect Bright Properties Inc. Furnline Limited Firban Limited 50% Triton Cayman Limited Jetwin International Limited Triumph Cayman Limited Victory Cayman Limited Triton Cayman Limited Triumph Cayman Limited Victory Cayman Limited 23. 60% Pearl Assets Limited 24. Gilbert Investment Inc. 25. 50% Fong Fun Investment Inc. Coningham Investment Inc. 26. i 5,000 Applecross Limited ii 5,000 Andcoe Limited 27. 28. 29. i 4,000 Applecross Limited ii 6,000 Andcoe Limited 30. i 80 ii 10 iii Jetwin International Limited Perfect Bright Properties Inc. Furnline Limited 5 31. Quickcentre Properties LimitedApplecross LimitedAndcoe Limited Quickcentre Properties Limited 50% 106

32. i 5 ii 5 Andcoe Limited 33. i 3,038 ii 202 Jetwin International Limited Perfect Bright Properties Inc. Furnline Limited 50% 34. i 1 Applecross Limited ii 1 Andcoe Limited 35. i 25 ii 75 Andcoe Limited 36. Third Avenue Management LLC 136,450,100 i ii iii iv v 107

ia b c ii i iii a b c i iii iii iv 108

Quickcentre Properties Limited 433470 406-2406-3406-425% 50% 50% 50% 40% Quickcentre Properties Limited iii 75% 80% 8% ab c d ab c d 109

Best Homes Limited Pettystar Investment Limited Quickcentre Properties Limited 2.5% 14A i 14A.06 14A.11 4a a i ii b 110

c 15.3% d 0.2208 15.3% e 4.5% f 100%60% 50% ii STTL 539 a b 100% 111

iii 1 100%2 25% 50% Quickcentre Properties Limited 50% 155107,306 iv 35.94% a b10% Greyhound Investments L.P. c Pearl Assets Limited d Sino Grand Investments Limited a d 31.36% 44.21% 112

8.10 30% 30% 4% 6% 2% 5% 1,630,000 2006502,000 2006 113

647,0002006 955,000 38,0002006 153,000 41,437,000 2006 36,086,000 51% 114

115

78 Rimmer (Cayman) Limited Riddick (Cayman) Limited Hopkins (Cayman) LimitedBelievegood Limited Cameron Enterprise Inc. 44 56 Rimmer (Cayman) Limited Riddick (Cayman) Limited Hopkins (Cayman) Limited Believegood Limited 36 Believegood Limited 58 60 116

60 81 Yamina Investment Limited Believegood Limited Cameron Enterprise Inc. South Base Limited 69 Rimmer (Cayman) Limited Riddick (Cayman) Limited Hopkins (Cayman) LimitedYamina Investment Limited Believegood Limited Cameron Enterprise Inc. South Base Limited 61 50 Babson College 55 117

78 73 58 70 Rimmer (Cayman) Limited Riddick (Cayman) Limited Hopkins (Cayman) Limited Cameron Enterprise Inc. 45 58 56 (Bell Labs) 118

56 54 46 54 50 409 53 46 59 119

49 Monash 44 47 120

122 123 124 126 127 129 181 186 187

123 187 141 122

2007 2006 8,355.9 6,773.0 (3,646.5) (3,084.0) 4,709.4 3,689.0 348.8 199.1 24.9 18.8 145.2 1,335.9 (725.8) (377.6) (1,015.6) (810.1) 3,486.9 4,055.1 1,981.4 7,297.0 5,468.3 11,352.1 (a) (507.7) (496.2) 4,960.6 10,855.9 4,058.0 2,534.8 3,653.1 3,805.3 12,671.7 17,196.0 (a) (698.1) (1,591.7) 11,973.6 15,604.3 9,817.7 13,548.7 2,155.9 2,055.6 11,973.6 15,604.3 777.0 725.8 1,359.8 1,179.5 2,136.8 1,905.3 (a) 5.19 7.47 (b) 3.11 2.90 129 187 123

2007 2006 2007 2006 52,830.7 56,868.0 178.9 171.1 1,033.9 223.3 53,983.4 38,176.6 20,536.3 16,962.6 364.9 472.4 11,167.9 16,026.1 124.5 121.5 2,089.8 1,456.1 (c) 108.9 163.2 87,946.4 91,870.4 54,472.8 38,770.5 2,034.6 1,245.4 29,382.8 21,036.0 3,525.3 3,386.2 24.9 43.1 67.6 23.4 20.2 9,520.0 7,638.9 0.7 0.7 44,530.3 33,350.1 25.6 43.8 419.8 702.8 44,950.1 34,052.9 25.6 43.8 4,397.0 2,730.1 105.1 118.3 3,007.4 7,029.2 736.6 635.0 8,141.0 10,394.3 105.1 118.3 0.5 171.5 8,141.5 10,565.8 105.1 118.3 124

2007 2006 2007 2006 36,808.6 23,487.1 (79.5) (74.5) 124,755.0 115,357.5 54,393.3 38,696.0 15,262.7 13,665.3 2,447.2 1,858.9 (c) 6,301.5 6,050.4 24,011.4 21,574.6 100,743.6 93,782.9 54,393.3 38,696.0 3,885.2 3,629.2 3,885.2 3,629.2 88,333.9 74,334.9 50,508.1 35,066.8 92,219.1 77,964.1 54,393.3 38,696.0 8,524.5 15,818.8 100,743.6 93,782.9 54,393.3 38,696.0 129 187 125

2007 2006 93,782.9 79,821.3 842.8 304.3, 71.2 326.5 146.9 1,169.3 522.4 13.5 (18.9) (5.4) 11,973.6 15,604.3 13,137.5 16,126.7 10,786.7 14,018.0 2,350.8 2,108.7 13,137.5 16,126.7 (2,039.7) (1,814.6) (5,281.3) (310.1) (90.3) 174.0 (2,594.3) (2,382.7) 2,272.0 (1,853.2) 70.3 256.0 5,252.0 5,508.0 100,743.6 93,782.9 129 187 126

2007 2006 12,671.7 17,196.0 : (382.4) (280.7) (15.7) (20.4) 17.4 11.6 8.1 (829.6) (352.4) (812.5) (86.0) 24.4 (26.3) 81.1 34.3 4.5 161.8 (a) (35.7) (24.3) 2.0 13.5 (1,981.4) (7,297.0) 507.7 496.2 114.8 122.1 (4,058.0) (2,534.8) (3,653.1) (3,805.3) (61.9) (17.3) 2,903.6 2,288.8 208.9 (1,032.6) 19.0 16.2 (770.9) (553.1) (2,225.9) (886.6) (497.7) (34.6) (8.7) 31.6 (44.2) 32.5 (105.2) 491.1 (8.2) 1,290.7 51.2 57.0 820.8 402.1 90.4 114.3 (261.8) (320.1) (35.8) (38.3) 613.6 158.0 127

2007 2006 (974.8) (1,639.9) 63.4 3.4 (32.6) (814.6) (149.6) 361.0 6,495.6 207.6 (534.5) (251.6) (45.1) 103.3 11.5 (a) 1,770.5 117.3 (b) (790.0) (67.6) (1,651.9) 312.1 168.0 31.6 20.2 928.5 916.6 314.2 781.4 15.7 20.4 8,055.9 (2,365.8) 3,103.1 (1,756.8) (93.9) 9,357.6 8,751.2 (11,900.0) (3,939.4) (154.7) 371.1 695.0 (993.1) (805.1) 5,508.0 (1.5) (2,039.7) (1,814.6) (90.3) (5,281.3) (310.1) (6,824.5) 5,430.0 1,845.0 3,222.2 7,458.0 4,231.2 124.1 4.6 9,427.1 7,458.0 129 187 128

(a) 129

(b) (c) (f) (g)(1) (x) (k) 130

(d) (e) (x) (e) (k) (x) (k) (k) 131

(f) (g) (k) (k) (1) (j) (u)(2) (j)(1) (j) (w) (k) 132

(g) (h) (i) (2) (h) (k) (w) (1) (2) (3) (4) 5 2 10 (k) 133

134 (j) (1) (g)(1) (2) (g)(1) (l) (k) (1)

135 (k) (1) (2) (x)

(l) (m) (n) (o) (1) (2) (w) (3) (4) (u)(4) (k) (k) 136

(p) (q) (r) (s) (t)(1) (1) (2) (1) (2) (3) 137

(s) (t) (4) (1) (a) (b) (t)(2) (2) 138

(u) (1) (2) (3) (4) (5) (6) (7) (8) 139

(v) (w) (x) 140

(y) (z) (1) (2) (3) (4) (5) (1) (6) 141

(a) (b) (c) (d),,, (c) 142

(a) (b) 143

(c) 2007 6.75% 11.5% 2,261.6 0% 3.1% 3,479.6 0.5% 5.4% 6,040.4 4.11% 7.75% (18,270.1) 4.11% 5.88% (2,447.2) 2006 (d) (e) 6% 11.75% 2,542.9 0% 3.1% 1,423.3 1.62% 5.28% 6,215.6 3.92% 8% (20,694.5) 4.16% 6.63% (1,858.9) 144

(f) (g) (1) (2) 59,600,000103,800,000 (1) (2) 2007 2006 4,658.3 2,708.6 2,483.9 2,261.0 94.3 114.6 101.1 856.4 188.7 136.4 132.8 134.5 696.8 561.5 8,355.9 6,773.0 1,012,800,000 145

2007 2006 268.7 140.6 19.4 25.5 60.7 33.0 348.8 199.1 (17.4) (2.0) (11.6) (8.1) 54.4 23.2 1.5 3.7 24.9 18.8 2007 2006 (i) (84.0) (ii) 829.6 (iii) 352.4 812.5 86.0 (24.4) 26.3 35.7 24.3 (13.5) (iv) (161.8) (81.1) (34.3) (4.5) (39.9) (242.2) 145.2 1,335.9 (i) (ii) (iii) (iv) 84,000,000 230,000,000, 161,800,000, 146

2007 2006 (a) 853.0 759.1 100.4 84.1 36.4 34.3 989.8 877.5 * (482.1) (381.3) * 4.57% 4.81% 4.41% 4.46% 507.7 496.2 (b) 41.4 36.1 1,059.4 968.9 1,100.8 1,005.0 (c) 99.9 102.5 (1.1) (0.1) 98.8 102.4 5.9 4.1 10.1 15.6 2,308.8 1,076.4 137.6 132.4 19.7 12.8 721,700,000 762,800,000 # (1,341.2) (1,104.8) (251.4) (265.8) (13.9) (7.9) (1.8) (12.5) # 118,400,000123,000,000 147

(a) 2007 2006 304.7 369.5 18.2 (4.4) 322.9 365.1 48.2 32.6 8.9 57.1 32.6 353.5 1,194.0 (35.4) 318.1 1,194.0 698.1 1,591.7 17.5% 17.5% 25% 33%35,400,000 148

(b) 2007 2006 12,671.7 17,196.0 2,189.7 2,968.9 (1,349.4) (1,109.5) 18.1 85.1 (157.3) (355.0) 72.0 132.8 (40.8) (68.7) (25.9) (57.5) (a) (35.4) 27.1 (4.4) 698.1 1,591.7 (c) 530.8 3,741.7 254.9 167.6 14.6 (276.7) 4,432.9 3.5 (1.0) 2.5 99.8 1,165.3 67.2 (0.7) (140.6) 3.0 1,194.0 15.1 15.1 208.9 208.9 33.1 (0.8) 32.3 1.5 1.5 634.1 4,921.1 356.7 375.7 13.9 (417.3) 3.0 5,887.2 634.1 4,921.1 356.7 375.7 13.9 (417.3) 3.0 5,887.2 4.7 (1.0) 1.4 5.1 (2.6) 302.4 (29.2) (1.1) 48.6 318.1 1.9 (8.9) 130.1 (2.0) 121.1 (17.6) (131.3) 11.0 (1.0) (138.9) 618.6 5,093.1 318.6 505.8 14.2 (357.7) 6,192.6 149

(c) 2007 2006 (108.9) (163.2) 6,301.5 6,050.4 6,192.6 5,887.2 (d) 2007 2006 389.4 68.1 319.4 55.9 (a) 1,007.4 176.3 820.3 143.5 1,559.6 272.9 1,851.2 324.0 (b) 525.1 130.5 593.2 181.1 3,481.5 647.8 3,584.1 704.5 (a) (b) 150

161 2007 70 8,820 8,890 70 12,958 12 13,040 70 6,567 19,490 364 26,491 70 7,490 324 7,884 50 5,402 15,000 301 20,753 50 7,650 5,000 331 13,031 70 4,170 5,200 232 9,672 70 2,767 154 2,991 50 3,664 2,142 203 6,059 70 70 70 2,701 134 2,905 120 3,985 193 4,298 ^ 25 25 70 70 70 430 500 50 50 70 70 ^ 70 430 500 70 430 500 70 430 500 1,325 67,894 46,832 2,248 118,299 ^ 151

161 2006 130 7,267 7,397 130 7,140 3 7,273 130 6,317 14,740 350 21,537 130 3,638 169 3,937 50 4,503 11,000 251 15,804 # 25 3,658 183 3,866 * 90 7,760 21,735 131 29,716 70 3,648 3,500 203 7,421 90 2,664 148 2,902 50 3,636 1,735 196 5,617 * 70 8,933 34,300 205 43,508 70 70 70 2,253 123 2,446 108 3,182 177 3,467 50 50 70 70 70 430 500 50 50 70 70 @ 179 893 1,072 ~ 90 610 700 105 570 675 70 430 500 1,967 67,532 87,010 2,139 158,648 # * @ ~ 152

5 44,11 2007 2006 5,808 3,968 196 222 11,714 3,500 17,718 7,690 12,229,000,000 702,900,000 (a) 2007 2006 44 777.0 725.8 7 6 5 1,359.8 1,179.5 2,136.8 1,905.3 (b) 2007 2006 6 56 1,262.7 1,088.8 153

(a) (b) 9,817,700,000 13,548,700,000 1,892,100,000 1,814,600,000 2007 2006 9,817.7 13,548.7 (1,981.4) (7,297.0) 302.4 1,165.3 (578.9) (745.4) (2,328.3) (2,766.8) 651.3 1,363.4 5,882.8 5,268.2 3.11 2.90 154

4,658.3 2,483.9 94.3 101.1 188.7 132.8 696.8 8,355.9 6.3 0.9 2.3 3.9 3.8 62.9 80.1 4,658.3 2,490.2 95.2 103.4 192.6 136.6 759.7 8,436.0 148.6 6.9 732.3 1.1 25.2 (914.1) 4,658.3 2,638.8 102.1 835.7 192.6 137.7 784.9 (914.1) 8,436.0 1,508.1 1,625.2 89.1 53.0 130.7 42.7 122.4 3,571.2 56.6 (32.6) (6.9) (41.3) (1.1) 8.0 (17.3) 1,564.7 1,592.6 82.2 11.7 130.7 41.6 130.4 3,553.9 268.7 (24.4) (24.4) (311.3) 3,486.9 1,981.4 (507.7) 4,960.6 4,058.0 794.5 2,711.5 5.8 2.4 88.4 50.5 3,653.1 12,671.7 (698.1) 11,973.6 155

38,764.3 45,819.8 1,000.9 131.2 1,614.9 1,885.1 1,707.5 (252.4) 90,671.3 20,536.3 3,335.2 6,526.4 138.8 11.1 1,041.0 115.4 11,167.9 10,521.0 132,896.5 2,247.9 774.5 89.7 422.6 96.5 66.3 583.8 (252.4) 4,028.9 28,124.0 32,152.9 (0.1) (9.2) (0.1) (0.7) (31.7) (21.3) (51.7) 5,312.8 220.1 2.0 174.2 0.1 43.3 156

2,708.6 2,261.0 114.6 856.4 136.4 134.5 561.5 6,773.0 3.5 5.2 1.6 2.2 1.0 0.2 44.8 58.5 2,712.1 2,266.2 116.2 858.6 137.4 134.7 606.3 6,831.5 125.5 1.4 824.5 0.8 26.3 (978.5) 2,712.1 2,391.7 117.6 1,683.1 137.4 135.5 632.6 (978.5) 6,831.5 1,356.2 1,384.3 116.4 62.3 81.8 48.9 70.2 3,120.1 (2.1) (13.7) (1.4) (61.0) (0.7) 2.7 (76.2) 1,354.1 1,370.6 115.0 1.3 81.8 48.2 72.9 3,043.9 140.6 86.0 86.0 26.3 26.3 758.3 4,055.1 7,297.0 (496.2) 10,855.9 2,534.8 700.0 3,062.6 7.0 10.0 13.6 12.1 3,805.3 17,196.0 (1,591.7) 15,604.3 157

29,195.7 51,373.3 833.8 76.7 1,214.5 729.5 1,051.7 (192.2) 84,283.0 16,962.6 2,199.6 12,081.3 151.9 8.8 1,520.8 63.7 16,026.1 8,651.6 125,923.3 795.0 669.3 153.0 634.0 200.9 66.6 438.1 (192.2) 2,764.7 29,375.7 32,140.4 (0.4) (6.4) (0.6) (36.1) (19.0) (59.7) 4,513.7 1,593.1 0.1 11.1 0.1 1.0 7,954.3 401.6 8,355.9 69.2 10.9 80.1 8,023.5 412.5 8,436.0 71,729.1 19,194.6 3,497.4 2,255.1 6,528.9 244.1 6,773.0 49.4 9.1 58.5 6,578.3 253.2 6,831.5 70,527.7 13,947.5 3,964.7 2,154.4 158

(a) 44,325.9 352.9 601.3 478.5 527.9 549.3 782.5 47,618.3 147.4 2.1 149.5 2,092.6 303.9 349.2 10.5 77.2 2,833.4 86.2 86.2 (1.1) (1.1) (3.3) (57.7) (61.0) 7,297.0 86.3 7,383.3 221.1 (229.1) (8.0) (3.8) (2.0) (5.8) 54,166.9 656.8 601.3 331.9 877.1 559.8 801.0 57,994.8 656.8 601.3 331.9 877.1 559.8 801.0 3,827.9 54,166.9 54,166.9 54,166.9 656.8 601.3 331.9 877.1 559.8 801.0 57,994.8 134.9 74.9 204.0 142.5 625.6 1,181.9 1.5 1.5 15.0 4.6 19.0 63.9 102.5 (i) (86.0) (86.0) (ii) 4.5 4.5 (1.0) (1.0) (49.5) (49.5) (24.1) (24.1) (1.3) (1.7) (3.0) 149.9 54.1 118.0 161.5 643.3 1,126.8 54,166.9 656.8 451.4 277.8 759.1 398.3 157.7 56,868.0 159

(a) 54,166.9 656.8 601.3 331.9 877.1 559.8 801.0 57,994.8 272.8 59.1 4.8 336.7 426.8 541.6 2.8 186.6 173.1 88.7 1,419.6 (1,441.0) (1,441.0) (45.8) (32.1) (56.7) (134.6) 1,981.4 1,981.4 (5,182.6) (346.4) (5,529.0) (75.6) (75.6) 354.4 (1,063.7) (709.3) 50,178.5 852.0 955.7 302.6 792.0 762.2 53,843.0 852.0 955.7 302.6 792.0 762.2 3,664.5 50,178.5 50,178.5 50,178.5 852.0 955.7 302.6 792.0 762.2 53,843.0 149.9 54.1 118.0 161.5 643.3 1,126.8 17.6 3.8 21.4 16.5 4.3 20.4 58.7 99.9 (58.2) (58.2) (3.7) (55.9) (59.6) (118.0) (118.0) 166.4 54.7 199.5 591.7 1,012.3 50,178.5 852.0 789.3 247.9 592.5 170.5 52,830.7 (i) (ii) 86,000,000 4,500,000 160

(b) 2007 2006 5,779.9 6,316.1 41,124.4 45,302.1 46,904.3 51,618.2 0.3 5,755.9 5,091.8 5,755.9 5,092.1 52,660.2 56,710.3 (c) (d) 161

2007 2006 231.8 789.5 24.4 (557.7) 256.2 231.8 60.7 228.0 6.5 (c) 10.1 15.6 (182.9) 77.3 60.7 178.9 171.1 162

2007 2006 234.5 175.2 799.4 48.1 1,033.9 223.3 2007 2006 2,493.5 2,355.1 59,898.5 41,207.5 62,392.0 43,562.6 (93.3) (93.3) 62,298.7 43,469.3 (8,315.3) (5,292.7) 53,983.4 38,176.6 181 185 163

2007 2006 2007 2006 162.7 164.7 897.1 628.7 1,255.0 1,266.9 251.2 356.7 2,152.1 1,895.6 413.9 521.4 (49.0) (49.0) 2,152.1 1,895.6 364.9 472.4 18,384.2 15,067.0 20,536.3 16,962.6 364.9 472.4 42,831.2 39,760.4 149,500,000140,100,000 49,600,000 3.5% 2% 186 58,418.0 (21,642.7) 36,775.3 17,210.6 10,477.6 49,130.6 (20,957.0) 28,173.6 12,806.4 6,562.0 2,235,700,000 164

2007 2006 2007 2006 8,644.0 7,364.8 2,523.9 8,661.3 124.5 121.5 11,167.9 16,026.1 124.5 121.5 8,600,000 10,300,000 161,500,000 0.5% 187 2007 2006 16,349.6 19,100.4 3,142.2 2,392.3 (9,341.9) (12,136.1) (1,505.9) (1,991.8) 8,644.0 7,364.8 7,366.6 7,337.2 (3,713.5) (3,531.9) 3,653.1 3,805.3 165

2007 2006 11.5 59.6 103.8 944.3 461.8 66.6 29.9 1,070.5 607.0 909.3 732.4 110.0 116.7 2,089.8 1,456.1 1,010.9 502.8 27,700,00023,700,000 () 1,367,900,000 604,000,000 561,000,000 561,000,000 ) 166

2007 2006 6,548.3 5,678.9 14,942.7 9,710.4 7,829.4 5,593.1 29,320.4 20,982.4 62.4 53.6 29,382.8 21,036.0 2007 2006 2,185.5 1,726.8 19,014.7 13,492.8 7.4 21,200.2 15,227.0 2,281.0 1,289.9 5,839.2 4,465.5 8,120.2 5,755.4 29,320.4 20,982.4 15,671.5 13,950.5 167

2007 2006 2007 2006 31.6 1,352.3 1,810.5 1,722.1 1,169.5 24.9 43.1 40.1 31.4 364.1 130.8 46.7 212.4 3,525.3 3,386.2 24.9 43.1 (i) (ii) 509,900,000 490,000,000 ) 2007 2006 2007 2006 1,530.1 1,904.9 78.6 55.8 82.5 32.2 270.2 167.0 1,961.4 2,159.9 (iii) (a) (iv 2007 2006 139.8 285.4 (99.7) (254.0) 40.1 31.4 40.1 31.4 168

2007 2006 2007 2006 6,040.4 6,215.6 3,479.6 1,423.3 0.7 0.7 9,520.0 7,638.9 0.7 0.7 2.0 0.5 (94.9) (181.4) 9,427.1 7,458.0 2007 2006 2007 2006 282.9 257.8 172.7 2007 2006 2007 2006 2,249.1 2,210.6 91.2 85.9 499.7 460.3 1,328.0 0.4 108.0 39.2 6.8 27.9 212.2 19.6 7.1 4.5 4,397.0 2,730.1 105.1 118.3 169

(i) (ii) 532,900,000 518,500,000 2007 2006 2007 2006 449.9 334.6 273.1 221.0 66.6 106.0 649.0 775.0 1,438.6 1,436.6 (iii 2007 2006 28.9 55.6 18,241.2 20,638.9 18,270.1 20,694.5 2007 2006 3,007.4 7,029.2 1,324.9 3,848.5 13,937.8 6,085.0 3,731.8 15,262.7 13,665.3 18,270.1 20,694.5 20,200,000 170

, 70,000,000 72,200,000 523,000,000 539,200,000 156,400,000 2007 2006 3.2 2.8 414.4 374.8 33.1 291.1 0.2 0.5 2.0 0.5 419.8 702.8 0.5 1.3 169.4 0.8 0.5 171.5 419.3 531.3 171

(a) 3,629.2 11,157.4 20.2 (44.7) 0.9 56.3 50,941.4 65,760.7 14,060.6 79,821.3 275.0 275.0 29.3 304.3 64.1 64.1 7.1 71.2 130.2 130.2 16.7 146.9 (35.5) 35.5 2.2 (2.2) 13,548.7 13,548.7 2,055.6 15,604.3 (b)) (1,088.8) (1,088.8) (1,088.8) (a) (725.8) (725.8) (725.8) (310.1) (310.1) (2,382.7) (2,382.7) 2,272.0 2,272.0 70.3 70.3 3,629.2 11,157.4 64.1 20.2 230.3 131.1 23.0 62,708.8 77,964.1 15,818.8 93,782.9 172

(a) 3,629.2 11,157.4 64.1 20.2 230.3 131.1 23.0 62,708.8 77,964.1 15,818.8 93,782.9 709.9 709.9 132.9 842.8 (56.0) 56.0 268.8 268.8 57.7 326.5 256.0 5,252.0 5,508.0 5,508.0 2.2 (2.2) 9.2 9.2 4.3 13.5 (18.9) (18.9) (18.9) 9,817.7 9,817.7 2,155.9 11,973.6 (b) (1,262.7) (1,262.7) (1,262.7) (a) (777.0) (777.0) (777.0) (5,281.3) (5,281.3) (90.3) (90.3) 174.0 174.0 (2,594.3) (2,594.3) (1,853.2) (1,853.2) 3,885.2 16,409.4 8.1 20.2 921.3 409.1 25.2 70,540.6 92,219.1 8,524.5 100,743.6 173

(b) 3,629.2 11,157.4 20.2 25,000.9 39,807.7 702.9 702.9 (b) (1,088.8) (1,088.8) (a) (725.8) (725.8) 3,629.2 11,157.4 20.2 23,889.2 38,696.0 3,629.2 11,157.4 20.2 23,889.2 38,696.0 256.0 5,252.0 5,508.0 12,229.0 12,229.0 (b) (1,262.7) (1,262.7) (a) (777.0) (777.0) 3,885.2 16,409.4 20.2 34,078.5 54,393.3 (c) 2007 2006 2007 2006 2,600.0 2,600.0 5,200.0 5,200.0 1,814.6 1,814.6 3,629.2 3,629.2 128.0 256.0 1,942.6 1,814.6 3,885.2 3,629.2 174

(c) (d) (e) 43.05 128,000,000 43.031 128,000,000 2,400,000 256,000,000 5,252,000,000 1 48B 49H 2 3 v 4 f 5 ( ) 10% 50% 34,078,500,000 23,889,200,00076 5 1,359,800,000 1,179,500,000 175

(a) 2007 2006 1,441.0 0.1 4.3 () (138.9) 1.5 428.6 175.0 (17.3) (83.6) (2.3) 1,715.4 93.0 18.9 35.7 24.3 1,770.0 117.3 1,770.5 117.3 (0.5) 1,770.0 117.3 1,770.5 117.3 (b) 2007 2006 790.0 790.0 (790.0) 176

2007 2006 (i) 4,065.5 2,741.3 (ii) 3,586.7 4,523.4 7,652.2 7,264.7 (a) 2007 2006 1,640.2 1,485.7 1,059.5 806.9 8.7 12.3 2,708.4 2,304.9 (b) 63,500,000 49,500,000 2007 2006 55.1 39.7 70.1 72.6 125.2 112.3 177

2007 2006 2007 2006 (a) (b) (c) 5.5 119.3 0.2 0.4 18,242.2 20,371.1 1,915.7 1,915.7 5.5 2,035.0 18,242.4 22,287.2 (d) (e), 31,000,000 20,900,000 53,300,000 (a) 2007 2006 (i) 45.0 63.8 (b) 2007 2006 (i) 37.0 47.9 (ii) 93.4 850.5 (iii) 9.9 15.5 (iii) 13.5 2.0 (iii) 59.8 19.0 (iii) 50.4 34.7 178

(i) (ii) (iii) 64.06 145,020,000 35.94 100 25 QUICKCENTRE PROPERTIES LIMITED 50 2,081,600,000 180

(a) (i) 2 1 100 I 2 1 100 2 1 100 I 2 1 100 I 2 1 100 Ming Dragon Limited 1,000 1 51.75 Ohtori Investment Limited I 2 1 100 Pettystar Investment Limited 4,050 1 75 10,000 1 100 I 1,000 1 90.10 (ii) I 50,000,000 100 100 I III 35,000,000 100 100 I 70,000,000 100 100 (b) I 2 1 100 I 2 100 100 I A 500 100 100 B 2 100 I A 100 1 100 B 2 1 I 2 1 100 I A 2 1 100 B 2 1 A 20,000 100 100 10,000 1 100 181

(c) 100,000 1 100 1,000 1 100 10 1 60 () I 10,000 1 100 250,000 100 100 Henderson Investment Credit (2004) Limited 2 1 100 Henderson Land Credit (2004) Limited 2 1 100 Henderson Land Credit (2006) Limited 1 1 100 2 1 100 I 2 1 100 Henson International Finance Limited I 1 1 100 2 1 100 2 1 100 St. Helena Holdings Co. Limited 3 1 100 West Chelsea Holdings Co. Limited 2 1 100 126,677,935 1 100 (d) 350,000 100 100 500 100 100 2 1 100 2 100 100 182

(e) (i) 10 1 60 2 1 100 100,000 100 100 I 1 1 100 2 1 100 (ii) () I 9,560,000 100 100 (f) 2 1 100 I 10,000 1 100 Brightland Enterprises Limited I 1 1 100 ( ) Butser Enterprises Limited 1 1 100 ( ) Camay Investment Limited 1 1 100 ( ) Cheerbond Limited 1 100 ( ) 300,000 1,000 64.06 2 1 100 2 1 100 1,000 1 100 Dorway Investment Limited 1 100 ( ) Fillink Limited 1 1 100 ( ) 2 100 100 Grand Venture Limited 1 1 100 ( ) 183

(f) I 10,000 1 64 I 2 1 100 I 3,000,000,000 1 100 I 3,000,000,000 1 100 3,047,327,395 0.20 67.94 Henderton Profi ts Limited 1 1 100 ( ) Kingslee S.A. I 2 1 100 ( ) Luxrich Limited 10 1 80 ( ) Macrostar Investment Limited 2 1 100 2 1 100 Max-mercan Investment Limited I 2 10 100 2 10 100 Medley Investment Limited 2 1 100 2 100 100 Mosway Investment Limited 1 100 ( ) 2 1 80 Primeford Investment Limited I 1 1 100 ( ) I 2 1 100 Prominence Development Limited 3,692,100 1 100 ( ) Puretech Investment Limited I 2 1 100 2 1 100 150,000 100 100 1,500 1 100 Strength Force Ltd. 1 1 100 ( ) Timpani Investments Limited 1 1 100 ( ) 1 1 100 Vigorous Developments Limited 10,000 1 70 ( ) 10,000 1 100 184

(g) I 2 1 100 ( ) I 2 1 100 Citistore (Hong Kong) Limited I 1 1 100 (h) I 1,000 100 100 I 2 1 100 2 1 100 I 2 1 100 2 1 100 I 2 1 100 2 1 100 I 2 1 100 (i) (i) Benecom Limited 1 1 100 (ii) 200,000,000 55.69 60 II 99,450,000 49 80 60 70 II 23,680,000 70 80 60 70 II 20,000,000 70 70 I II III 185

38.55, 31.36 44.21 Shinning Worldwide Limited 45 186

50 Billion Ventures Limited 50 Central Waterfront Property Investment Holdings Limited 34.21 Newfoundworld Holdings Limited 20 25 49.18 50 50 187

188

72-76 : (852) 2908 8888 : (852) 2908 8838 : http://www.hld.com : henderson@hld.com 46 12 HLDCY : 425166303) 189

GBM, DBA (Hon), DSSc (Hon), LLD (Hon) BSc, ACIB, MBIM, FCILT LLB, FCIS OBE, ACA, FCCA, FCPA, FCIB, FHKIB LLB, FCIS ( ) BSc, C Eng, MICE, MHKIE ( ) BA (AS), B Arch (Dist), MSc (Con P Mgt), EMBA, FHKIA, MAPM, RIBA, Authorised Person (Architect), Registered Architect (HK) PRC Class 1 Registered Architect Qualifi cation 190

MSc, MEcon, FHKIS, MRICS, MCIArb, RPS (GP) BA (Hons), MHKIP, MRTPI, MCIP, RPP (HK), MCILT, MCIArb, AHKIArb MSc, PGDMS, FHKIS, FRICS, RPS (GP) JP, BSc, FHKIE, FIHT, FHKIHT, RPE BSc (Eng), C Eng, MICE, MIStructE, MHKIE, RPE, AP, RSE, RGE, 1RSE-PRC FRICS, FHKIS, RPS (GP), CIREA BHum (Hons) ACIS, FHIREA 191

MH, FHIREA BSc, MBA FRICS, MHKIS, AACI BSc, MSc, Post-Graduate Diploma in Surveying, ACIB 192

BSc, ACIB, MBIM, FCILT MSc, MBA, BBA, DMS, MIHRM BEc, FCPA, CA (Aust), FCS, FCIS BSc (Econ), ACA FCCA, CPA B Comm, CMA BSc, Grad Dip Com (IS) BBA 193

(A) (a) (b) (c) (b) (c) 2.00 (a) (i) (ii) (iii) (B) (a) (i) (ii) (iii) (iv) 194

(b) (A) (C) (A) (B) 72-76 ( 72-76 17 1712-1716 (A) (B) (C) B )(A) 195

196