Gongbei Port Avenida Norte do Hipodromo Avenida Leste do Hipodromo Orient Pearl Lotes T+T1 Rua Central da Areia Preta Avenida do Nordeste Macau Ferry Terminal and Heliport Hong Kong-Zhuhai-Macau Bridge The Pearl Pearl Horizon Avenida da Ponte da Amizade Annual Report 2014 POLYTEC ASSET HOLDINGS LIMITED (Incorporated in the Cayman Islands with limited liability) (Stock Code: 208) () (: 208)
Polytec Asset Holdings Limited Polytec Asset Holdings Limited (Stock Code: 208) currently focuses on the property market in Macau. In 2004, the Group started to invest in the Macau property market and acquired certain property interests, including a 50%-owned investment property in the central district, The Macau Square. In 2006, the Group acquired 80% interest in three property development projects in the Orient Pearl District of Macau, with its total attributable gross floor area of the remaining two property projects currently under development exceeding 700,000 sq. m.. The Group currently also engages in the oil business in Kazakhstan and the ice and cold storage business in Hong Kong.
2 41 4 43 5 44 6 45 8 47 14 48 16 49 19 50 30 103
02 Teo Geok Tien Maurice The R&H Trust Co. Ltd. Windward 1 Regatta Office Park P.O. Box 897 Grand Cayman KY1-1103 Cayman Islands 183 22
03 Cricket Square Hutchins Drive P.O. Box 2681 Grand Cayman KY1-1111 Cayman Islands 750 23 www.polytecasset.com 208
04 : 208 T + T1 715,000 18,000
05 294,643 284,301 731,762 234,782 963,905 (173,515) (226,683) 132,704 119,817 406,064 43,657 4,380 287,990 204,503 247,019 0.98 0.10 6.49 4.61 5.56 2 (144,223) (219,139) 167,871 120,408 225,019 2 (3.25) (4.94) 3.78 2.71 5.07 31,073 62,146 106,535 106,535 106,535 0.70 1.40 2.40 2.40 2.40 13,241,824 12,931,837 12,500,706 12,289,470 12,011,862 395,813 513,298 537,579 583,042 651,784 13,637,637 13,445,135 13,038,285 12,872,512 12,663,646 (202,899) (172,893) (331,318) (463,858) (459,149) (2,177,991) (2,309,184) (2,082,006) (1,973,545) (1,850,203) 11,256,747 10,963,058 10,624,961 10,435,109 10,354,294 443,897 443,897 443,897 443,897 443,897 10,801,068 10,481,662 10,167,974 9,979,242 9,863,697 11,244,965 10,925,559 10,611,871 10,423,139 10,307,594 11,782 37,499 13,090 11,970 46,700 11,256,747 10,963,058 10,624,961 10,435,109 10,354,294 2.53 2.46 2.39 2.35 2.32 (%)3 18.97 20.57 19.73 20.17 19.02 1. 2. 3.
06 2 1 1 2 T + T1
07 2 T + T1 1 P T+T1 80% 80% 68,000 17,900 697,600 195,600 599,700 188,200 97,900 7,400 2017/2018 2017/2018
08 4,400,000 43,700,000 144,000,000 219,000,000 3.25 4.94 0.70 0.50
09 43,700,000 4,400,000 0.98 0.10 144,000,000 219,000,000 3.25 4.94 0.50 0.50 0.200.90 0.701.40 144,000,000 212,000,000 715,000
10 80% 68,000 697,000 T+T1 T+T1 80% 17,900 196,000 26,500,000 54,200,000 8.3% 50% 50,600,000 12.0% Avenida do Nordeste
11 216,000,000 347,000,000 212,000,000 South Alibek 26,800,000 30.3%
12 30% 15.7% 2.5% 9.8%
13 20%
14 227,000,000209,000,0001.95 2.97 335,000,000 13,000,000322,000,0001,799,000,000 2,248,000,000 335,000,000180,000,000 11,245,000,000 10,926,000,000 20.6% 19.0%
15 2,000,000 117,000,000120,000,000
16 Intellinsight Holdings Limited Marble King International Limited Ors Holdings Limited Marble King International Limited
17 University of East Anglia Marble King International Limited Intellinsight Holdings Limited University of Lincoln the Institute of Public Accountants, Australia Pacific CMA, Inc
18 BBS, MBE, JP, DProf, FHKIoD Teo Geok Tien Maurice Bulaccan State University of Philippines
19 A.4.1 A.6.7 F Teo Geok Tien Maurice 1618
20
21 4/4 1/1 4/4 1/1 4/4 1/1 # 1/1 4/4 1/1 4/4 1/1 4/4 1/1 4/4 1/1 4/4 1/1 4/4 1/1 Teo Geok Tien Maurice 3/4 0/1 # A.6.7
22 3.10(2) 2/2 2/2 2/2
23 B.1.2(c)(ii) 3/3 3/3 3/3 B.1.5 1,000,000 1 1,000,0012,000,000 2 2,000,0013,000,000 1 4
24 1/1 1/1 1/1
25 A.4.1 108(A) A.4 A.4.2 112 3 4(2) A.4 A.4.2 D.3.1 10
26 Teo Geok Tien Maurice A A, B A A A, B A A, B A A, B A, B A B F 3.28F 3.2915
27
28 1,887,000 (www.polytecasset.com) 113
29 750 23 +852 2380 9682 +852 2380 6310
30 3 35 43 102 0.002 0.009 0.005 0.005 13(d) 1,397,337,000 5,912,600,000 11
31 25 Teo Geok Tien Maurice 108(A) (B)112 7 1618 3.13
32 14 30(a) (b) (c) (d) XV 352 10 1 2 4 3,260,004,812 73.44% 2,000,000 0.05% 6,655,000 0.15% 270,000 0.01% 430,000 0.01% 3 4 3,260,004,812 73.44%
33 6 2 5 830,770,124 72.20% 277,500 0.02% 180,000 0.02% 1,170,000 0.10% 225,000 0.02% 751,000 0.07% 3 5 830,770,124 72.20% Ors Holdings Limited 7 1 100.00% 7 1 100.00%
34 1. 4,438,967,838 2. 830,770,124 China Dragon Limited China Dragon Limited277,500 3,260,004,812 3. 830,770,124 3,260,004,812 4. Ors Holdings Limited 3,260,004,812 5. 830,770,124 6. 1,150,681,275 7. Ors Holdings Limited 1 352
35 336 1 Ors Holdings Limited2 4 3,260,004,812 73.44% 3 4 3,260,004,812 73.44% 4 5 3,260,004,812 73.44% 1. 4,438,967,838 2. Ors Holdings Limited830,770,124 72.20% 3,260,004,812 3. 831,417,074 72.25% 3,260,004,812 4. Ors Holdings Limited 3,260,004,812 5. 3,245,004,812 73.10%3,260,004,812 15,000,000 15,000,000 336
36 13.51B (1) 162,000 169,300 98,700 103,100 100,000 104,500 160,000 170,000 13.51B (1)
37 10% 1% 0.1% 5,000,000 28 1 (i) (ii)(iii)
38 390 23 30 5
39 20% 55% 5% 30% 103104 183 22 183 22 1929
40
41 43102
42 10 8
43 3 294,643 284,301 (90,719) (57,138) 203,924 227,163 4 23,421 10,646 (69,859) (35,466) (59,906) (60,368) (59,095) (72,258) 2(c) (212,000) (296,400) (173,515) (226,683) 235,413 266,884 5(a) (31,996) (31,628) 5 29,902 8,573 6 15,118 24,346 45,020 32,919 8 43,657 4,380 1,363 28,539 45,020 32,919 9 0.98 0.10 50102 10
44 45,020 32,919 306,822 415,843 306,822 415,843 351,842 448,762 350,479 420,223 1,363 28,539 351,842 448,762 50102
45 11 915,657 1,136,716 12 66,257 84,322 14 10,920,923 10,614,101 15 1,217,915 997,002 24 104,078 82,702 16 16,994 16,994 13,241,824 12,931,837 17 32,766 18 9,405 8,685 19 88,471 105,506 20 71,434 156,994 21 226,503 209,347 395,813 513,298 22 132,824 120,546 23 13,400 56,675 52,347 202,899 172,893 192,914 340,405 13,434,738 13,272,242
46 30(a) 1,798,553 2,247,683 38,679 41,416 23 321,600 24 19,159 20,085 2,177,991 2,309,184 11,256,747 10,963,058 25 443,897 443,897 10,801,068 10,481,662 11,244,965 10,925,559 11,782 37,499 11,256,747 10,963,058 50102
47 13(a) & 35 1 1 1 1 13(b) 10,424,957 10,821,541 542 534 21 30,812 165,343 10,456,311 10,987,418 7,951 5,699 13(c) 895,974 689,395 903,925 695,094 9,552,386 10,292,324 9,552,387 10,292,325 30(a) 1,798,553 2,247,683 1,798,553 2,247,683 7,753,834 8,044,642 25 443,897 443,897 13(d) 7,309,937 7,600,745 7,753,834 8,044,642 50102
48 443,897 5,912,600 3,318,101 1,250,961 10,925,559 37,499 10,963,058 43,657 43,657 1,363 45,020 306,822 306,822 306,822 306,822 43,657 350,479 1,363 351,842 (27,080) (27,080) 10 (31,073) (31,073) (31,073) 443,897 5,912,600 3,624,923 1,263,545 11,244,965 11,782 11,256,747 443,897 5,912,600 2,902,258 1,353,116 10,611,871 13,090 10,624,961 4,380 4,380 28,539 32,919 415,843 415,843 415,843 415,843 4,380 420,223 28,539 448,762 (4,130) (4,130) 10 (106,535) (106,535) (106,535) 443,897 5,912,600 3,318,101 1,250,961 10,925,559 37,499 10,963,058 50102
49 27 198,284 (81,586) (24,759) (34,535) (422) (1,097) 32,766 45,592 111 19 14,500 22,196 9,979 15,000 212,829 1,383,901 (1,194,339) (693,000) 335,000 (80,000) (27,080) (4,130) (31,073) (106,535) (203,324) 13,897 17,156 (57,710) 209,347 267,057 226,503 209,347 226,503 209,347 50102
50 1. (a) 622911 76 87 32 1(c) (b) 2
51 1. (c) 36 3636 2(c) (d)
52 1. (d) (e)
53 1. (e) (f) (i)(ii) (i) (ii)
54 1. (f) (ii) (i) 1(l) (g) (h) 50 2 10
55 1. (h) (i) (j)
56 1. (k) (l) (i)
57 1. (l) (i) 1(e) 1(l)(ii)1(l)(ii)
58 1. (l) (i) (ii)
59 1. (l) (ii)
60 1. (l) (iii) 34 1(l)(i) (ii) (m) (n)
61 1. (o) 1(v) 1(l) 1(v) 1(l) (p)
62 1. (q) 1(j) (r)
63 1. (s) (t) (u)
64 1. (v)
65 1. (w) (x) (y) (a) (i) (ii) (iii)
66 1. (y) (b) (i) (ii) (iii) (iv) (v) (vi) (a) (vii) (a)(i) 2.
67 2. (a) 2 10 (b)
68 2. (c) Caspi Neft TMESouth Alibek South Alibek Caspi Neft TME
69 2. (c) 212,000,000296,400,000 195,400,000273,200,00016,600,000 23,200,000 778,116,000992,961,000 66,257,00084,322,00012.5% 12.5% 20% 5% 391,618,000495,854,000118,492,000 119,920,000 5050 19,877,00020,462,000 15,380,00015,754,000 (d) (e)
70 2. (f) 3. (a) 16,000 125,561 152,499 55,597 88,482 63,845 37,662 39,298 294,643 284,301
71 3. (b)
72 3. (b) 16,000 157,725 120,918 294,643 28,601 (215,634) 26,804 772 (159,457) (14,058) (173,515) 235,413 235,413 (31,996) 29,902 10,998,038 910,064 170,538 9,405 12,088,045 1,217,915 1,217,915 331,677 13,637,637 21,410 2,926 423 24,759 42,679 9,412 76 52,167 212,000 212,000 720 720 10%58,662,00053,127,000
73 3. (b) 125,561 62,623 96,117 284,301 114,880 (347,209) 20,566 (1,291) (213,054) (13,629) (226,683) 266,884 266,884 (31,628) 8,573 10,823,418 1,116,039 174,364 8,685 12,122,506 1,029,768 1,029,768 292,861 13,445,135 20,776 13,739 20 34,535 24,142 8,317 12 32,471 296,400 296,400 1,140 1,140 10%123,370,000
74 3. (b) (i) (ii) 136,918 221,678 1,372,450 1,157,751 157,725 62,623 844,373 1,077,283 294,643 284,301 2,216,823 2,235,034 10,920,923,000 10,614,101,000 4. 5,132 6,896 85 111 1,426 677 720 13,786 2,272 2,962 23,421 10,646
75 5. (a) 819 9 8,728 31,041 20,898 31,860 29,635 136 1,993 31,996 31,628 (b) 63,047 57,481 1,546 1,349 64,593 58,830
76 5. ( ) (c) 50,280 29,882 1,887 2,589 1,377 1,205 1,887 1,670 (3,323) (3,855) (720) 1,140 27 26 30,379 34,947 43,135,00019,197,000 5(b) 6. (a) 3,724 2,648 3,429 14,399 31 (10) 7,184 17,037 (22,302) (41,383) (15,118) (24,346) 16.5% 16.5%
77 6. (b) 29,902 8,573 (69,928) (28,916) (30,379) (34,947) 29,148 4,867 (2,192) 58,202 34,072 31 (10) 588 (15,118) (24,346) 7. 62278 1132161 2,157 450 199 2,806 1,314 240 121 1,675 1,332 300 1,632 * 674 6 680 170 170 170 170 170 170 170 170 170 170 Teo Geok Tien Maurice 170 170 1,020 5,477 990 326 7,813 *
78 7. 2,080 237 191 2,508 1,257 115 116 1,488 1,266 223 1,489 1,769 75 18 1,862 160 160 160 160 160 160 160 160 160 160 Teo Geok Tien Maurice 160 160 960 6,372 650 325 8,307 1,868 2,760 133 17 2,018 2,760
79 7. 1,000,000 1 1,000,0011,500,000 1 2,500,0013,000,000 1 8. 259,735,000332,169,000 9. (a) (b) 43,657,0004,380,000 4,438,967,838 4,438,967,838
80 10. (a) 0.002 0.009 8,878 39,951 0.005 0.005 22,195 22,195 31,073 62,146 (b) 0.0050.015 22,195 66,584
81 11. 120,210 32,790 1,476,151 41,510 1,670,661 21,410 3,349 24,759 (267) (229) (496) 120,210 32,790 1,497,294 44,630 1,694,924 120,210 32,790 1,455,425 27,803 1,636,228 20,776 13,759 34,535 (50) (52) (102) 120,210 32,790 1,476,151 41,510 1,670,661 25,734 7,020 483,190 18,001 533,945 2,820 769 40,792 5,899 50,280 195,400 195,400 (204) (154) (358) 28,554 7,789 719,178 23,746 779,267 22,914 6,250 188,448 13,308 230,920 2,820 770 21,553 4,739 29,882 273,200 273,200 (11) (46) (57) 25,734 7,020 483,190 18,001 533,945 91,656 25,001 778,116 20,884 915,657 94,476 25,770 992,961 23,509 1,136,716 2
82 12. 130,157 129,060 422 1,097 130,579 130,157 45,835 20,046 1,887 2,589 16,600 23,200 64,322 45,835 66,257 84,322 2
83 13. (a) 1 1 Think Bright Limited 29.5% 29.5% 5,012 130,112 4,373 96,328 1,290 28,417 2 2 40,964 136,825 (36,451) (44,884) 4,515 91,943 1,332 27,123 27,080 4,130 104,879 20,607 (91,800) (14,000)
84 13. (b) 10,968,307 11,136,791 (543,350) (315,250) 10,424,957 10,821,541 (c) (d) 5,912,600 1,688,145 7,600,745 (259,735) (259,735) 10 (31,073) (31,073) 5,912,600 1,397,337 7,309,937 5,912,600 2,126,849 8,039,449 (332,169) (332,169) 10 (106,535) (106,535) 5,912,600 1,688,145 7,600,745
85 13. (e) 7,951 7,951 7,951 895,974 895,974 895,974 1,798,553 1,798,553 1,798,553 903,925 1,798,553 2,702,478 2,702,478 5,699 5,699 5,699 689,395 689,395 689,395 2,247,683 2,247,683 2,247,683 695,094 2,247,683 2,942,777 2,942,777 335,000,000180,000,000 335,000,000
86 14. 10,614,101 10,198,258 306,822 415,843 10,920,923 10,614,101 2 15. 12 12 1,217,903 996,990 1,217,915 997,002 50%
87 15. 548,506 618,855 470,826 533,768 14,500 80 54 60,758 69,894 2,739,105 2,312,154 15,740 7,898 (48,356) (107,043) (270,659) (219,005) 2,435,830 1,994,004 1,217,915 997,002 16. 17.
88 18. 9,405 8,685 19. 72,753 69,285 25,200 1,714 1,037 12,717 9,984 1,287 88,471 105,506 25,200,200 13,786,000
89 20. 30 45,171 124,653 3160 4,337 2,788 6190 700 1,748 90 229 1,657 5,266 6,193 50,437 130,846 20,997 26,148 71,434 156,994 90 21.
90 22. 30 560 3160 72 90 3 75 635 41,710 51,721 90,479 68,825 132,189 120,546 132,824 120,546 23. 13,400 321,600 335,000 91,656,00025,001,000 32(c)
91 24. (63,160) 16,891 (16,348) (62,617) (22,611) (821) 1,130 (22,302) (85,771) 16,070 (15,218) (84,919) (11,622) 14,487 (24,099) (21,234) (51,538) 2,404 7,751 (41,383) (63,160) 16,891 (16,348) (62,617) (104,078) (82,702) 19,159 20,085 (84,919) (62,617) 477,416,000271,634,000 443,773,000228,542,000
92 25. 10,000,000,0000.1 1,000,000 1,000,000 5,000,000,000 0.01 50,000 50,000 1,050,000 1,050,000 4,438,967,838 0.1 443,897 443,897 (a) (b) 34 19.0% 20.6% 26.
93 27. 29,902 8,573 (235,413) (266,884) (85) (111) (1,426) (677) (720) 1,140 52,167 32,471 27 26 212,000 296,400 31,996 31,628 88,448 102,566 17,035 15,187 85,560 (95,348) 9,541 (98,109) 200,584 (75,704) 1,426 677 (955) (2,002) 85 111 (2,856) (4,668) 198,284 (81,586) 28. 5,490,000 5,490,000
94 29. (a) 980 177 256 1,236 177 1,638 3,815 1,309 1,638 5,124 (b) 2,000,000
95 30. (a) 31,041,00020,898,000 (b) 8,728,000 (c) 998,000801,000 (d) 5,705,0003,492,000 (e) 14A 31. (a) 91,656,000 94,476,000 (b) 25,001,00025,770,000
96 32. (a) 100 20,783,00022,477,000 100 (b)
97 32. (c) 132,824 132,824 132,824 18,861 326,079 344,940 335,000 1,798,553 1,798,553 1,798,553 151,685 326,079 1,798,553 2,276,317 2,266,377 120,546 120,546 120,546 2,247,683 2,247,683 2,247,683 120,546 2,247,683 2,368,229 2,368,229
98 32. (d) 9,405 8,685 10,920,923 10,614,101 5% 470,000 434,000
99 32. (d) -10% +10% 5% 1,322,474,000 1,322,444,0001,047,623,0001,038,571,000 (e) 33. Marble King International Limited
100 34. 15 9 6223589 9 35. Noble Prime International Limited 1 100% Power Charm International Limited 1 100% Power Mighty Limited 1 100% Sinocharm Trading Limited 1 100%
101 35. Acestart Investments Limited 1 70.5% 1 100% Caspi Neft TME 50,000,000 100% Coöperatieve Power Mighty U.A. 30,000 100% 100 100% Equal Talent Limited 1 100% 2 100% 30,000 58% Marvel Talent Corporation 200 70.5% Melosa Limited 1 100% Mission Geronimo Enterprises Limited 1 58% New Bedford Properties Limited 1 100% New Cosmos Holdings Limited 100 58% 1 58%
102 35. 2 100% Power Giant Limited 1 100% Power Mighty A N.V. 6,000 100% Power Mighty B N.V. 6,000 100% Power Mighty B.V. 18,000 100% Profit Sphere International Limited 1 100% 1 100% 2 100% 1 100% 10 58% 500,000 100% Think Bright Limited 200 70.5% Top Vision Assets Limited 1 100% 1 100%
103 (%) TN25b TN26d 3 3 58 730 804 2 6-B 35 59 1,940 59 70.5 6 52 25 31 227 259 5 5 100 171 725 175 67 1,122 100
104 (%) 2 16A 36,553 50 43 53A 265 81 113 208 208 265 (%) 697,568 80 * 68,001 195,587 80 T+T1* 17,969 *
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