:http://www.melco.hk.cn 200 28293047 6038 128129 48 6038
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Better Joy Better Joy Overseas Limited 77%23% 9.00 22,222,222 11,111,11118.00 100,000,000 2.00 4.00 1
100,000,000 50% PBL 42%28%30% 400,000,00030% Lasting LegendBetter Joy 2
Melco PBL Holdings Melco PBL Holdings Lasting Legend Lasting Legend Limited 5,230 B4912521407 80%70% Melco Leisure Melco Leisure and Entertainment Group Limited 3
Melco PBL Holdings Melco PBL Holdings Limited PBL PBL 48%32%20% 1.00 PBL Publishing and Broadcasting Limited PBLPBL Asia PBL Asia PBL Asia Investments LimitedPBL PBL 5.2075,900,000 18,000160 56,000,000 20% 4
56,000,000 4.10 8.20 0.50 1.00 0.50 Melco LeisurePBLPBL AsiaMelco PBL Holdings 571 Melco PBL HoldingsPBLPBL Asia 400,000,000 30% 5
8101 64.65% % 1.007.78 1.031.00 6
:http://www.melco.hk.cn 200 60 38 30% 30% 1,100,000,000 14.0814.07 7
100%1,100,000,000 1,100,000,000 (i) (ii)(iii)(iv) (v) (vi) 100,000,000 50% 56,000,000 20%70% 30% 8
100% PBL Asia 50% PBL 100% Melco Leisure 50% Melco PBL Holdings 1 100% Melco PBL International Limited 2 80% 3 20% 80% 70% 4 1. PBL Asia163,000,0001,270,000,000 Melco PBL Holdings 2. Melco PBL International Limited 3. Melco Leisure20% 60% 4. PBL42%28%30% PBL 9
70% 30% 400,000,000 (i) 200,000,000 (ii) 200,000,000 10
FPDSavills (Hong Kong) LimitedSavills (Hong Kong) Limited 1,100,000,000 400,000,000 30%400,000,000330,000,000 1,100,000,00030% 21.21%30% 556,000,0001,100,000,000 49.45% 230,000,000223,000,000 779,000,0001,100,000,000 29.18%PBL 366,000,00030%400,000,000 109,800,000 366,000,00030%264.30% 556,000,000 366,000,000 51.91% 50%100,000,000 144,000,000 288,000,00050% 30.56% 11
20%56,000,000 73,200,000 366,000,00020%23.50% 1,100,000,000( 366,000,000) (i) 52,300 76,407 (ii) (i) 1,100,000,000(ii) 30% PBL 400,000,000200,000,000 200,000,000 9.0022,222,22211,111,111 18.00 12
200,000,000 18.00 (i) 17.97 0.17% (ii) 8.91.12% (iii) 2.65 579% (iv) 3.24 1,854,500,0001,144,660,762 572,330,3811,122,438,540 561,219,27022,222,222 11,111,111 455.56% 18.008.9200,000,000 197,780,000 1.98% 1.94% 13
(i) 398,000,000 80%353,000,000 2.3153,478,261 45,000,000Better Joy Better Joy45,000,000 2.319,565,21680% Better Joy Better Joy19,565,216 (ii) 100,000,00050% 100,000,000 2.0 50,000,0004.0 25,000,000 (iii) 56,000,00020% 56,000,000 4.1 13,658,5368.2 6,829,268 14
(iv) 5.2 75,900,000377,000,000 94,000,000207,000,000 75,000,000 30,500,000 56,400,000 (v) 18.25 70,000,000 1,239,000,000 (i) (ii) 15
30% 30% 70% 21 16
% % % % % Better Joy1 288,532,606 25.71 288,532,606 24.61 288,532,606 25.40 288,532,606 25.21 288,532,606 23.88 2 120,941,636 10.77 120,941,636 10.32 120,941,636 10.65 120,941,636 10.57 120,941,636 10.01 78,166,294 6.96 78,166,294 6.67 78,166,294 6.88 78,166,294 6.83 78,166,294 6.47 3 4 30,047,734 2.68 30,047,734 2.56 30,047,734 2.64 30,047,734 2.63 30,047,734 2.49 444,574 0.04 444,574 0.04 444,574 0.04 444,574 0.04 444,574 0.04 50,000,000 4.26 13,658,536 1.20 22,222,222 1.94 85,880,758 7.11 5 604,305,696 53.84 604,305,696 51.54 604,305,696 53.19 604,305,696 52.79 604,305,696 50.01 1,122,438,540 100.00 1,172,438,540 100.00 1,136,097,076 100.00 1,144,660,762 100.00 1,208,319,298 100.00 1. Better Joy77%23% 2. Lasting Legend 3. 4. Sharikat Investments LimitedDareset LimitedLanceford Company Limited 5. 50,000,000 25,000,00013,658,5366,829,268 17
30% 400,000,000 400,000,000 200,000,000 400,000,000 400,000,000 PBL Asia 163,000,0001,270,000,000 18
30% (i) PBL42%28%60%40% (ii) PBL60% 40%PBL PBL 100% PBL Asia 100% Melco Leisure 50% 50% Melco PBL Holdings 100% Melco PBL International Limited 80% 20% 80% 100% 19
I. 2.65 1,225,000,0003.24 1,854,500,000 1,144,660,762572,330,381 1,122,438,540561,219,270 22,222,22211,111,111 (i)(ii) (iii)(iv) 70% (i) (ii)18,000 160 (i)60 40%(ii) 30% 20
(i)(ii) 14A Melco Hotels and Resorts (Macau) Limited 50400 3,000 42% 60% 21
1,000,000970,000 1,448,000,000 1,417,000,000 377,000,00094,000,000 207,000,00075,000,000 30,500,000 56,400,000 6.01 5,230B49125 21407 50%25% 25% 22
200,000,000 366,000,000 1,448,000,000 230,000,000 223,000,000PBL60%40% PBL 868,800,000579,200,000 PBL133,800,00089,200,000 207,000,000 PBL42% 28%60%40% (i) 50% (ii) PBL 20% (iii) Melco PBL Holdings 23
PBL PBL 60%40% 30% 2004 83% 45%57% 200,000,000 400,000,000 24
183,200,000 1,584,800,0001,225,500,000 15%1,854,500,000 239,200,000 12.9% (i)1,100,000,000(ii) Melco PBL Holdings 1,100,000,000 14.0814A.16(5) 14.07 25%100% 10,000,00014A 2.68% Better JoyLasting Legend 25
1,122,438,540 2.68%0.04%0.48%Lasting Legend10.29%Better Joy25.71% 27.78%6.96% 30% 12%30% 400,000,000160,000,00014.06 14 6038128129 48 6038 (i)2829 (ii)3047 26
27
:http://www.melco.hk.cn 200 60 38 (a) (b) (c) (i) (ii) 28
(d) 3047 29
30% 400,000,000 1,100,000,000 14.0814A.16(5) 14.07 30
25%100% 10,000,00014A 2.68% Better JoyLasting Legend 42%60%(i) (ii)(iii) 31
1,000,000970,000 1,448,000,000 1,417,000,000 5,230 B4912521407 50%25% 25% 200,000,000 366,000,000 1,448,000,000 230,000,000223,000,000 PBL60%40% PBL 868,800,000579,200,000 PBL 133,800,00089,200,000 207,000,000 32
30% (i) 30%(ii) (iii) 30% (a) (i)(ii)(iii)(iv) (b) 3. (c) PBL42% 28%60%40% 54,900,000123,000,000 124% 33
(d) (i) 50% (ii) PBL 20% (iii) Melco PBL Holdings PBL PBL 60%40% 30% 6. PBL PBL 34
PBLPBL AsiaMelco PBL Holdings 163,000,0001,270,000,000PBL PBL PBL (i)(ii) (e) 30% 30% 400,000,000 400,000,000 (i)200,000,000 400,000,000 (ii) 200,000,000 200,000,000 35
(i) (ii) 30% 30% (i)30%(ii)(iii)(iv) 200,000,000 400,000,000 200,000,000 7. 36
37 PBL 60%40%PBL 0 500,000 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 111,500,000 16,700,00020% 40% 66%9% 37%48%57%
1 30%400,000,000 (i)fpdsavills (Hong Kong) LimitedSavills (Hong Kong) Limited 1,100,000,000 (ii)3. (a) 366,000,00030%400,000,000 109,800,000 366,000,00030%264.30% 556,000,000 366,000,000 51.91% 50%100,000,000 144,000,000 288,000,00050% 30.56% 20%56,000,000 73,200,000 366,000,00020%23.50% 38
50%20% 30.56%23.50% 30%400,000,000 30%400,000,000330,000,000 30%21.21% 30% 556,000,00049.45% 230,000,000223,000,000 779,000,000 29.18%PBL 330,000,00030% 21.21% 30% (b) 39
(c) 40
(xi)(xii) (i) (ii)(iii) (iv) (v) 1,588,800,0001,494,000,000(vi) 47,354,000 1,248,600,000(vii) 74,900,00057,800,000462,400,000 55,300,000 366,000,000(i) (ii) 13.801(b) 27.6% 366,000,000 (i) (ii) (iii) 41
5 (d) (i)(ii) (i) 556,000,000 49.45%(ii) 230,000,000 223,000,000779,000,000 29.18%(iii)30%400,000,000 4(a) 30%21.21% 400,000,000200,000,000 200,000,000 9.0022,222,222 11,111,11118.00 200,000,000 200,000,000 400,000,000 200,000,000 42
43 200,000,000 400,000,000 PBL Asia163,000,000 1,270,000,000 18.00 218.00 2 2004/3/18 2004/4/1 2004/5/3 2004/6/1 2004/7/2 2004/8/2 2004/9/1 2004/10/4 2004/11/1 2004/12/1 2005/1/3 2005/2/1 2004/3/1 2005/3/17 0 5 10 15 20 0 100 200 300 400 500 600 700 800 900 1,000 218.00 2.675
2.6511.40 9.8518.00 18.0519.70 18.00 17.970.17% 17.791.18% 11.9550.63% 7.56 138.10% 2.65 1,225,500,000 579.25% 3.24 1,854,500,000 1,144,660,762572,330,381 1,122,438,540561,219,270 22,222,22211,111,111 455.56% 17.88.90 1.12% 2.65 1,225,500,000 44
3.24 1,854,500,0001,144,660,762 572,330,3811,122,438,540 561,219,27022,222,222 11, 111,111 18.00 8.90200,000,000197,800,000 (a) 1. (b) (c) 45
(a) 183,200,000 15,000,000145,000,000 23,200,000 1,584,800,0001,225,500,000 15% 200,000,000 1,854,500,000239,200,000 13% (b) 1,225,500,000 463,244,000 2.65 1,854,500,000 2.65 3.24 17 1.98% 1.94% 46
53.84% 50.01% 2.65 579.25%2. 53.84%50.01% 60 38 47
2 408,076 165,263 82,838 2 8,102 4,267 4,084 3 (2,113) 10,186 (157,183) (36,703) (24,159) 10 (107,120) (76,499) (55,747) (17,683) (16,154) (5,927) (507) (464) (2,614) 14(d) 57,176 (50,607) (26,088) 31(d) (61,809) (51,968) (39,219) (337,733) (210,490) (125,052) --------------- --------------- --------------- 4 76,332 (30,774) (38,130) 5 (4,199) (2,007) 72,133 (32,781) (38,130) 6 (2,490) (1,201) 69,643 (33,982) (38,130) (4,486) 7,648 2,534 7 65,157 (26,334) (35,596) 8 8,451 9 20.06 (15.89) (27.1) 9 18.33 48
2 408,076 165,263 2 8,102 4,267 3 (2,113) 10,186 (157,183) (36,703) 10 (107,120) (76,499) (17,683) (16,154) (507) (464) (2,614) 14(d) 57,176 (50,607) (26,088) 31(d) (61,809) (51,968) (337,733) (210,490) --------------- --------------- 4 76,332 (30,774) 5 (4,199) (2,007) 72,133 (32,781) 6 (2,490) (1,201) 69,643 (33,982) (4,486) 7,648 7 65,157 (26,334) 8 8,451 9 20.06 (15.89) 9 18.33 49
12 389,937 19,705 13 2,786 3,293 14 204,174 187,916 16 100,000 17 27,754 20,637 29 177 304 14,780 4,219 547 4,542 --------------- 740,155 --------------- 240,616 16 25,145 18 3,768 4,137 19, 31(b) 337,014 236,390 31(a), 31(b) 40,919 9,150 20 40,641 40,638 21 1,119 429 387 1,100 394,966 142,771 --------------- 844,672 --------------- 433,902 22 60,462 110,538 31(c) 35,153 39,575 1,888 23 817 15,000 24 22,500 --------------- 135,820 --------------- 150,113 --------------- 708,852 --------------- 283,789 1,449,007 524,405 25 463,244 221,997 27 762,233 238,725 1,225,477 460,722 75,616 62,952 407 24 122,500 31(d)(viii) 23,158 6 2,256 324 50 1,449,007 524,405
14 15 918,761 389,624 16 100,000 1,018,761 389,624 --------------- --------------- 124 673 279,287 15,440 279,411 16,113 --------------- --------------- 1,108 3,742 24 22,500 23,608 3,742 --------------- --------------- 255,803 12,371 --------------- --------------- 1,274,564 401,995 25 463,244 221,997 27 688,820 179,998 1,152,064 401,995 24 122,500 1,274,564 401,995 51
460,722 376,124 27 3,734 27 65,157 (26,334) 27 (56,176) 25, 27 105,333 25, 27 759,191 27 (16,576) (2,441) 25, 27 16,935 4,306 8, 27 (3,776) 1,225,477 460,722 52
28(a) (154,349) (43,931) 849 (877) --------------- (153,500) --------------- (44,808) 28(c)(ii) 22,142 28(c)(i) 10,265 28(d) (250) 4,200 446 712 938 200 (49,770) (8,366) 127 (184) 83,000 2,168 326 (4,000) (19,837) (2,112) (30,452) 4,000 (25,145) (10,561) 405 (3,247) --------------- 5,511 --------------- (30,506) --------------- (147,989) --------------- (75,314) 28(b) 16,935 4,306 28(b) 105,333 28(b) 394,680 28(b) (16,576) (2,441) (4,199) (2,007) 28(b) (482) 28(b) (106,335) 28(b) 15,000 (3,776) 28(b) (24,556) 28(b) 23,158 --------------- 400,184 --------------- (1,144) 252,195 (76,458) 142,771 219,229 394,966 142,771 136,719 125,770 258,247 17,001 53 394,966 142,771
33 363638 38 3 10 3 1(f) 3638 54
10 33 3 22,633,000 55
3 (i) (ii) (iii) 56
(iv) 20 5%10% 2.5% 20% 10%20% 10% 20% (v) (i) (ii) 57
58 1(e) (i)
(ii) (iii) 59
(i) (ii) (iii) 1(e) 1,390,0006,116,000232,532,000 249,349,000 10% 50% 60
(a) (b) (a)(b) (a) (b) 57,000,000 123,007 54,861 154,799 29,203 126,404 75,504 3,866 5,695 408,076 -------------- 165,263 -------------- 938 200 31d(xi) 6,671 493 4,067 8,102 4,267 -------------- -------------- 416,178 169,530 61
123,431 169,440 128,634 3,866 425,371 (424) (14,641) (2,230) (17,295) 123,007 154,799 126,404 3,866 408,076 5,636 14,504 14,783 65,334 100,257 (23,925) 76,332 598,842 57,226 433,372 290,633 1,380,073 100,000 100,000 104,754 1,584,827 24,325 22,497 62,675 1,935 111,432 172,302 283,734 11,519 591 4,390 1,183 17,683 507 507 (3,117) (3,117) 1,204 1,204 114,520 422 669 1,098 116,709 361,427 8,805 370,232 323 1,587 1,910 62
55,143 29,506 75,504 5,695 165,848 (282) (303) (585) 54,861 29,203 75,504 5,695 165,263 (11,713) (9,413) 3,005 2,258 (15,863) (14,911) (30,774) 33,596 25,662 389,105 46,131 494,494 180,024 674,518 8,246 23,323 113,443 5,508 150,520 324 150,844 4,324 6,277 3,615 1,938 16,154 464 464 2,614 2,614 312 12,980 11,359 2,192 26,843 3,080 1,200 4,280 122 1,934 2,056 63
209,327 79,519 1,236,304 23,551 263 (2,502) 2,333 963 198,486 23,240 218,436 92,195 408,076 100,257 1,457,073 116,709 (23,925) 76,332 100,000 27,754 1,584,827 144,901 (15,715) 631,548 24,504 (501) 614 564 992 20,362 353 20,727 1,775 165,263 (15,863) 653,881 26,843 (14,911) (30,774) 20,637 674,518 (3,425) 9,228 1,312 958 (2,113) 10,186 64
4,178 5,467 (82) (84) 4,096 5,383 56,176 1,400 3,117 1,204 478 3,080 1,200 1,910 2,056 9,342 6,009 2,298 674 3,043 1,967 27 31(d)viii 23 95 31(d)ix 1,011 40 4,199 2,007 17.5%17.5% 1,668 354 (848) 523 1,670 324 2,490 1,201 65
72,133 (32,781) 17.5%17.5% 12,623 (5,737) (392) 5 (9,463) 89 457 (5,536) (71) (848) 523 6,017 6,024 2,490 1,201 324 28(c)(i) 262 1,670 324 2,256 324 324 324 28(c)(i) 262 262 1,994 (324) 324 1,670 324 2,256 324 2,256 324 66
2,998 3,147 (63,095) (78,101) (60,097) (74,954) (2,076) (2,513) (2,076) (2,513) 5,705,000 8,685,000 0.01 3,776 0.01 4,675 8,451 0.01 (i)65,157,000 26,334,000ii324,834,445 165,762,626 (i) 65,991,000834,000 (ii)324,834,445 16,340,475 18,799,001 67
103,210 73,336 (17) 1,086 810 1,175 54 (118) (27) 3,390 3,056 (209) (2,127) 107,120 76,499 10 10 869 854 109 87 988 951 ----------------- ----------------- 3,628 3,557 24 27 3,652 3,584 ----------------- ----------------- 4,640 4,535 3,600,000 26 68
300,000300,000300,000300,000 62,000 207,000254,000 50,000 50,00046,000 13,00037,000 10,00010,000 1,729,0001,729,0001,899,000 1,729,000 99,000 1,000,000 7 6 1,500,001 2,000,000 2 2 7,407 7,602 35 28 7,442 7,630 1,000,0011,500,000 1 1 1,500,0012,000,000 1 2,500,0013,000,000 1 3,000,0013,500,000 1 4,000,0014,500,000 1 (c) 69
19,705 28(c)(i) 361,427 28(d) 8,805 389,937 389,937 389,937 22,319 (2,614) 19,705 32,614,000 19,705,000 3 3,293 (507) 2,786 3,757 (971) 2,786 3,757 (464) 3,293 70
159,000 43,665 614 7,477 90,585 301,341 28(c)(i) 3,829 16,983 43,637 64,449 7,475 6,093 9,262 17,137 263 12,030 52,260 11,545 134 (134) (11,545) (17,763) (17,763) (82,000) (135) (474) (2,367) (84,976) ------------ 77,000 ------------ 62,550 ------------ 140 ------------ 17,533 ------------ 96,566 ------------ 60,774 ------------ 263 ------------ 485 ------------ 315,311 34,970 189 2,091 76,175 113,425 1,989 5 4,060 7,944 3,659 26 17,683 (17,763) (17,763) (17) (142) (2,049) (2,208) ------------ ------------ 36,942 ------------ 52 ------------ 6,151 ------------ 64,307 ------------ 3,659 ------------ 26 ------------ ------------ 111,137 77,000 25,608 88 11,382 32,259 57,115 237 485 204,174 159,000 8,695 425 5,386 14,410 187,916 (a) 62,550 140 17,533 96,566 60,774 263 485 238,311 77,000 77,000 77,000 62,550 140 17,533 96,566 60,774 263 485 315,311 43,665 614 7,477 90,585 142,341 159,000 159,000 159,000 43,665 614 7,477 90,585 301,341 71
(b) (c) (d) (e) 2,120,000 3 5509 77,000,000 77,000,0005 83,000,00057,176,000 2,107 3,396 387 1,953 2,494 5,349 (f) 77,000,000 82,000,000 6 --------------- 6 --------------- 72
a 29,394 390 (390) 29,394 b 1,272,191 707,864 (315,235) (308,742) b (67,589) (9,498) 918,761 389,624 (a) (b) 32 i218,900,000 21.252 ii93,100,000 4 ab 485 b 99,515 100,000 (a) 10,000 50% 100 (b) 100,000,00050% 24(b) 50% 73
56,000,00020% 400,000,000 30% 26,499 26,499 4,000 (2,745) (5,862) 27,754 20,637 ------------------ ------------------ 4,250 4,250 (4,250) (4,250) 27,754 20,637 2,389 2,268 98 52 1,281 1,776 41 3,768 4,137 171,681 99,144 (323) 171,358 99,144 b 165,656 137,246 74 337,014 236,390
30 157,881 94,499 3190 10,624 3,376 90 3,176 1,269 171,681 99,144 (a) (b) 3090 306,189,000 235,922,000 (c) 30 40,641 40,638 a 519 429 Gold Carousel Investment Limited GCIL b 600 1,119 429 (a) (b) 31(d)iv GCIL 31(d)vii 75
30 14,313 6,562 3190 4,459 3,416 90 5,224 396 23,996 10,374 36,466 100,164 60,462 110,538 837 (20) 817 817 76
a 22,500 a 22,500 b 100,000 145,000 (22,500) 122,500 (a) 22,500,00022,500,000 4 2.3 1 (b) 100,000,0004 16(b) 4.0 1 (c) 77
480,000 480,000 a 220,000 220,000 700,000 700,000 1 145,287 145,287 b 72,644 72,644 26 4,066 4,066 1 221,997 221,997 1 221,997 221,997 c 229,378 229,378 26 11,869 11,869 1 463,244 463,244 (a) (b) (c) 1 220,000,000 480,000,000700,000,000 1.4575,643,567 1 105,300,000 1153,478,2612.375 364,511,000 28(c)(i) 75,900,0001 5.2394,680,000 (d) 1 0.5 78
10 30% 10% 22,199,7001.00 10% 10% 1% 0.1% 5,000,000 141 (i) ii iii 79
4, 5 5,448,918 (5,432,612) 16,306 0.82 2 1.00 2 6 3,600,000 3,600,000 2.35 2.405 5,448,918 3,600,000 (5,432,612) 3,616,306 750,002 (750,002) 0.82 2 1.00 2 7 3,457,670 (1,230,000) 2,227,670 1.1067 2 1.1067 2 8 8,170,000 8,170,000 2.35 2.405 9 3,900,000 (1,966,000) 1,934,000 3.375 3.375 4,207,672 12,070,000 (3,946,002) 12,331,670 10 4,440,172 (2,490,172) 1,950,000 1.1067 2 1.1067 2 11 1,000,000 1,000,000 2.35 2.405 12 4,500,000 4,500,000 3.375 3.375 4,440,172 5,500,000 (2,490,172) 7,450,000 14,096,762 21,170,000 (11,868,786) 23,397,976 1 2 3 23,397,976 23,397,97623,398,000 33,668,000 4 1,816,306 5 16,306 80
6 3,600,0001,800,000 1,800,000 7 2,227,6701,113,835 1,113,835 8 8,170,0004,060,000 4,110,000 9 1,934,000400,000 600,000 594,000 175,000 165,000 10 1,950,000974,999 975,001 11 1,000,000500,000 500,000 12 4,500,0002,250,000 2,250,000 81
(i) 3.65,868,698 2.5%4.1% 30%4.5 3 4,606,510 5 8,478,020 3 1,262,188 3 1,262,188 6 5,868,698 8 9,740,208 3,871,510 9,740,208 9,740,208 (3,871,510) 5,868,698 9,740,208 82
(ii) 1.0 0.64 4,188,71823,160,565 11.5%1.8% 0.650.64 1.0 2 982,114 3 1,473,171 1.0 22 1,782,539 26 1,821,823 0.64 58 23,160,565 1.0 6 1,424,065 5 933,008 88 27,349,283 34 4,228,002 39,284 4,228,002 4,861,465 23,160,565 (39,284) (633,463) 27,349,283 4,228,002 83
19,189 79,214 357,785 (225,351) 230,837 4,000 4,000 (266) (266) (26,334) (26,334) 32,689 32,689 (2,441) (2,441) 240 240 49,677 82,948 357,785 (251,685) 238,725 529,813 529,813 (56,176) (56,176) (16,576) (16,576) 5,066 5,066 254 (254) 65,157 65,157 (3,776) (3,776) 567,980 26,772 354,009 254 (186,782) 762,233 19,189 357,785 (218,779) 158,195 32,689 32,689 (2,441) (2,441) 240 240 (8,685) (8,685) 49,677 357,785 (227,464) 179,998 529,813 529,813 (16,576) (16,576) 5,066 5,066 (5,705) (5,705) (3,776) (3,776) 567,980 354,009 (233,169) 688,820 84
127,274,212 230,510,521 357,784,733 76,332 (30,774) 3,425 (9,228) (1,312) (958) 17,683 16,154 507 464 2,614 (149) (1,400) 478 (57,176) 48 3,080 1,200 (3,117) (446) (712) (1,204) (938) (200) 32,354 (17,983) 369 (749) (94,792) (119,225) (24,204) 7,168 (690) 1,978 (50,196) 58,626 (407) (70) (16,783) 26,324 (154,349) (43,931) 85
271,674 164,476 62,952 24,258 4,486 (7,648) 266 9,502 42,025 (1,324) 4,051 395,039 107,198 23,158 (24,556) (106,335) 15,000 (482) 364,511 106,335 1,299 69,556 (45,000) 1,031,224 271,674 75,616 62,952 23,158 15,000 817 86
(i) 80% 25(b) 4,737,000 706,000361,427,000 14 64,449 5,832 10,971 7,569 (69,556) (262) (14,266) 4,737 (947) 3,790 364,511 706 365,217 3,790 12 361,427 (706) 10,971 10,265 87
(ii) 18,477 25,478 118,428 6,534 122,900 (43,297) (106,335) (42,025) 100,160 598 100,758 100,758 (100,758) 122,900 22,142 (d) (e) 27,900,000325,000 8,805,000 10%12.5%217,000 1,204,000 177,000184,000 120,000 120,000 88
437 4,547 19,620 4,853 46,835 4,958 66,455 9,811 7,767 8,000 280 1,118 1,150 2,548 89
(a) (b) 14,876,000 1,808,000 8,462,000 1,044,0001,702,000 50,521 5,683 (49,477) (3,981) 1,044 1,702 (c) (d) 367,735,00010,180,000 (i) 4,306 2,486 (ii) 1,004 1,173 (iii) 276 569 (iv) 681 418 (v) 243 106 (vi) 81,644 15,634 (vii) 600 (viii) 23 (ix) 1,011 (x) 44,890 (xi) 6,671 90
(i) (ii) (iii) (iv) (v) (vi) (vii) (viii) (ix) (x) (xi) 15%40% 519,000 429,00021 GCILGCIL 21 4 424 2 91
Melco Leisure and 1 100% Entertainment Group Limited Palmsville Developments Limited 1 2, 3 1 80% 100 2, 3 80% 24,000 1,000 8,060 86.68% 2, 4 1,000A 33,930 500 B 2, 4 84.76% 100 100 13,495 2, 4 5,000 86.68% 220 iasia Online Systems 1 100% Limited 2 1 2 1 100% 833,333 92
100% 2 450,000 50,000 1 100% Melco Finance and Technology Limited 1 2 238,154,999 67.57% 0.1 1 67.57% 230,000,000 2 1 67.57% 30,000,000 2 1 67.57% 20,000,000 2 1,000,000 67.57% 2 1 67.57% 2 2 1 67.57% 500,000 2 93
VC Investment 1 67.57% Management Limited Panorama Invest Limited 2 1 67.57% 1,000,000 2 1 67.57% 500,000 2 224,000 67.57% 2 1,000 1 67.57% 10,000 1 Melco Services Limited 1 1 100% Proven Success Limited 1 1 100% Zonic Technology Limited 2 1 100% 1 2 3 28(c)(i) 4 94
70,000,00050,000,000 Publishing and Broadcasting Limited PBL PBL Asia Investments Limited PBL Asia PBL 70%PBL 1,270,000,000163,000,000 Melco Entertainment LimitedMelco Entertainment Melco Entertainment 30%400,000,000 16) 95
Melco PBL Holdings Limited IIII 96
4 25,950 -------------- 5 1,000 5 25,950 (24,950) -------------- 1,000 6 1,000 6 1,000 1,000 97
(a) 24,950,000 15 98
(b) (c) / 99
25,950 10,000100 1,000 1,000,000 10,00010010,000 100 6,884 100
1,494,000 a) b) 56,000,00057,790,000400,000,000 412,800,000 20%30% 101
(a) (b) (c) 102
(d) (e) 103
BSI 60 38 MRICS, MHKIS, RPS, CREA, MCIArb MREP 104 Bsc (Hons), MHKIS 106
Site A1, Baixa da Taipa - Lote BT17 5,23056,295.20 Hung Fat Garden 36 3 1,100,000,000 76,407 822,437 52,292 562,866 24,115 259,571 76,407 822,437 25 (iii)(2) Public Works Department Nova Taipa Urbanizacoes Lda Public Works Department 105
(i) (ii) (iii) Conservatoria do Registo Predial Nova Taipa Urbanizacoes Lda vide 3626L F28A fls 1) 2) Public Works Department Nova Taipa Urbanizacoes Lda() Public Works Department Nova Taipa Urbanizacoes Lda Public Works Departmentn.o211/6036.03/DSODEP/2005 3) Nova Taipa Urbanizacoes Lda (iv) Building Alignment Plan 2004A033 a) b) 160N.M.M. (v) (vi) (vii) (viii) 230,000,000223,300,971 1,588,800,0001,494,000,000 106
(ix) (x) (xi) 47,354,000 1,248,600,000 74,900,000 57,800,000462,400,00055,300,000 (xii) (xi) (xi) (x) 107
100% 100% 108
204,174 1,125,145 1,329,319 27,754 27,754 2,786 2,786 389,937 107,031 496,968 100,000 (100,000) 177 177 14,780 14,780 547 547 25,145 (25,145) 3,768 3,768 337,014 337,014 40,919 40,919 40,641 40,641 1,119 969 2,088 1,100 1,100 394,966 (200,000) 194,966 ----------------- 844,672 ----------------- (24,176) ----------------- (200,000) ----------------- 620,496 60,462 60,462 35,153 156,100 66,900 258,153 1,888 1,888 817 817 15,000 15,000 22,500 22,500 ----------------- 135,820 ----------------- 156,100 ----------------- 66,900 ----------------- 358,820 ----------------- 708,852 ----------------- (180,276) ----------------- (266,900) ----------------- 261,676 ----------------- 1,449,007 ----------------- 844,869 ----------------- (159,869) ----------------- 2,134,007 122,500 56,000 178,500 23,158 23,158 2,256 2,256 ----------------- 1,301,093 ----------------- 788,869 ----------------- (159,869) ----------------- 1,930,093 75,616 330,291 (330,291) 75,616 1,225,477 458,578 170,422 1,854,477 (1) 1.031 109
(2) a) 70% 50%56,000,000 20% 70% b) 70% c) Nova Taipa Urbanizacoes Lda Nova Taipa Urbanizacoes Lda vi230,000,000223,000,000 223,000,00070%156,100,000 d) i) 1,100,000,000 ii) 969,000 1,100,969,000 e) 70% 585,000,0004 4 Black-Scholes 156,000,000 429,000,000 f) 1,125,145,000 1,100,000,00025,145,000 i) 50%100,000,000 ii) 25,145,000 110
iii) iv) 969,000 156,100,000 v) 56,000,000 vi) 30%330,291,000 (3) 400,000,000200,000,000200,000,000 30% 200,000,000 200,000,000 200,000,00066,900,000223,000,00030% 2f330,291,000 (4) 107,031,000 1,208,000,000585,000,000 400,000,000223,000,000 1,100,969,000 (5) Melco PBL Holdings Limited (6) 1 1,225,477 (392,723) 832,754 111
100% 1 1,854,477 (499,754) 1,354,723 1 I 2,786,000389,937,000 392,723,000 2,786,000496,968,000499,754,000 295,400,00061,000,000 10,000,000201,000,00023,400,000 71,000,000 22,500,000 178,500,00023,400,000 4 112
1,417,000,000 40% 113
108112I.II. Melco PBL Holdings Limited B134.29 4.29 114
1998/8 I (a) (b) (c) 4.29 115
G.B.S. 1 35 21 413A 11 13B 32 12A C.B.E., LL.D., J.P. M.A. (CANTAB), F.C.A., F.C.P.A., C.P.A., J.P. 2E1 6-8 4A G.B.S., J.P. 116 22 2A
70% 1,400,000,000 0.50 700,000,000 1,122,438,540 561,219,270 22,222,222 11,111,111 1,144,660,762 572,330,381 117
(a) 78 (b) 352(c) 1 7,298,456 63,658,536 6.32% 2 3 22,749,278 2.03% 404,041,630 36.00% 45 5,432,612 0.48% 5,400,000 0.48% 3,632,612 0.32% 2,000,000 0.18% 1. 1,122,438,540 2. Sharikat Investments Limited Dareset Limited Lanceford Company Limited0.65% 7,298,456 3. 100,000,00056,000,000 4.008.2 156,000,000 4.008.22.004.1 63,658,536 30%63,658,536 4. Lasting Legend10.29% 115,509,024 Better Joy25.71%77% 288,532,606 118
Better Joy23%77% Better Joy 8.59%30.57% 5. Better Joy 45,000,000Better Joy 2.30 Better Joy19,565,21639,130,432 1.2025 1,800,000 0.50 32,612 1.2025 1,800,000 1 7,384,651 2.97% 2 4,232,627 1.70% 3 1. 248,941,226 2. 2.97% 65%7,384,651 3. Golden Mate Co., Ltd.1.70% 4,232,627 119
735,000 0.30% 1 1,226,057 0.49% 2 1. 3.60 2. (a) (b) 735,000 3.60 491,057 1.00 (i) (a) 78 (b) 352 (c) (ii) 120
(iii) (iv) (a)23 (b)336 (c) 10% 1 Better Joy 288,532,606 25.71% 26 Lasting Legend 115,509,024 10.29% 2 7,298,456 63,658,536 6.32% 3 4 22,749,278 2.03% 404,041,630 36.00% 56 5,432,612 0.48% 63,658,536 5.67% 47 78,166,294 6.96% JP Morgan Chase & Co. 97,248,000 8.66% 121
1. 1,122,438,540 2. Better JoyLasting Legend 3. Sharikat Investments Limited Dareset Limited Lanceford Company Limited0.65% 7,298,456 4. 100,000,00056,000,000 4.008.2 156,000,0004.008.2 2.004.1 63,658,536 30% 63,658,536 5. Lasting Legend10.29% 115,509,024 Better Joy25.71% 77% 288,532,606 Better Joy23%77% Better Joy 8.59%30.57% 6. Better Joy 45,000,000Better Joy2.30 Better Joy19,565,216 39,130,432 7. 23 336 10% 122
(i) 14 69 (ii) (iii) (iv) 123
74 (i) (ii) (iii) (iv) (i) 1.00 1.4572,643,567 (ii) Better Joy Better Joy 65% (iii) 8% (iv) 7% 124
(v) (vi) Grandford Properties Limited 29375 (vii) Better Joy 4.95 5.3075,900,000 (viii) 1,448,000,000 (ix) Melco PBL HoldingsPBLPBL Asia (x) 1,175,000,000 Great Respect Limited)Great Respect (i)great Respect 49.2%1,175,000,000 Great Respect (ii) Great Respect 1,175,000,000 (xi) Melco Leisure (i) Melco Leisure (x))50.8%(ii) Melco LeisureMelco Hotels and Resorts (Macau) Limited(x) 125
(xii) Better Joy 70,000,000140,000,000 18.259.125 (i) 6038 (ii) (iii) Society of Management Accountants (iv) 56 126
(v) 6038 (i) (ii) (iii) (iv) (v) (vi) 28 29 3047 (vii) (viii) (ix) (x) (xi) 127
:http://www.melco.hk.cn 200 6038 1. 2. 60 38 128
1. 2. 3. 486038 4. 129