2008/09 Interim Report Stock Code 16

2008/09 Interim Report Stock Code 16

W Ritz-Carlton International Commerce Centre atop Kowloon Station is a world-class landmark with The Cullinan luxury residences, HarbourView Place serviced suites, W Hong Kong hotel, Ritz- Carlton and Elements shopping centre forming a new business core in Hong Kong.

2 3 4 12 13 14 15 16 17 27 29 Contents 46 Board of Directors and Committees 47 Financial Highlights and Corporate Information 48 Chairman s Statement 56 Report on Review of Interim Financial Information 57 Consolidated Profit and Loss Account 58 Consolidated Balance Sheet 59 Condensed Consolidated Cash Flow Statement 60 Condensed Consolidated Statement of Changes in Equity 61 Notes to the Interim Financial Statements 70 Financial Review 72 Other Information

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(%) 15,120 11,919 +27 1 4,800 3,874 +24 1 3,522 2,839 +24 692 13,626-95 2 4,535 6,200-27 0.27 5.42-95 2 1.77 2.47-28 0.80 0.80 1. 2. / 30 45 (852) 2827 8111 (852) 2827 2862 www.shkp.com shkp@shkp.com 183 17 1712-1716 UFJ (i) (ii) shkp@computershare.com.hk 183 18 1806-1807 / 3

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0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 1.2 1.2 0.6 1.8 / 5

W Ritz-Carlton APM W Ritz-Carlton 6 /

APM Ritz-Carlton / 7

8 /

A1A Asiamoney Euromoney Liquid Real Estate Institutional Investor / 9

10 /

465YOHO Town / 11

13 26 34 34 2410 34 2410 12 /

2 15,120 11,919 (8,451) (5,357) 6,669 6,562 (23) 322 (642) (598) (720) (622) 2 5,284 5,664 (4,335) 5,842 949 11,506 (333) (516) 77 158 3 (256) (358) 4 (78) 530 42 285 97 4,000 2 139 4,285 5 754 15,963 6 44 (2,117) 798 13,846 692 13,626 106 220 798 13,846 2,051 2,051 7(a) $0.27 $5.42 7(b) $1.77 $2.47 / 13

8 155,144 159,293 9 20,582 16,317 3,034 3,394 27,243 27,799 10 2,969 4,566 11 526 693 12 4,808 4,971 214,306 217,033 67,877 65,417 13 11,859 11,552 14 511 717 6,539 6,796 86,786 ------------------------------- 84,482 ------------------------------- (2,088) (2,051) 15 (14,005) (13,103) (109) (269) (2,772) (4,171) (18,974) ------------------------------- (19,594) ------------------------------- 67,812 64,888 282,118 281,921 (44,463) (38,252) (18,221) (18,903) (671) (709) (63,355) (57,864) 218,763 224,057 16 1,282 1,282 212,796 217,968 214,078 219,250 4,685 4,807 218,763 224,057 14 /

1,310 (2,341) (2,346) (6,709) 5,825 3,437 (4,359) (4,103) (62) (299) 10,891 (735) (866) 669 9,060 (367) 10 6,384 6,975 (45) 10 5,972 6,995 5,613 6,503 926 947 (68) (115) 6,471 7,335 (499) (340) 5,972 6,995 / 15

O O 1,246 24,927 757 2,276 983 155,287 185,476 3,019 188,495 715 715 58 773 110 110 110 110 715 825 58 883 (295 ) (295) (295) 13,626 13,626 220 13,846 (185 ) 715 13,626 14,156 278 14,434 36 10,855 10,891 10,891 1 (1) (1) (1) 1 (4,103) (4,103) (4,103) 1,267 1,267 (49 ) (49) 7 7 71 71 (3) (3) (299) (299) O O 1,282 35,782 757 2,091 1,698 164,809 206,419 4,292 210,711 O O 1,282 35,782 757 1,360 3,335 176,734 219,250 4,807 224,057 (44 ) (44) (6 ) (50) (45 ) (45) (45) (1,494 ) (1,494) (9) (1,503) (1,494 ) (89 ) (1,583) (15) (1,598) (154) (154) (154) 232 232 232 692 692 106 798 (1,416 ) (89 ) 692 (813) 91 (722) 3 (3) (4,359 ) (4,359) (4,359) (207) (207) 2 2 54 54 (62) (62) O O 1,282 35,782 760 (56 ) 3,246 173,064 214,078 4,685 218,763 16 /

1. 34 OO OO 39 7 12 13 14 19 12 12 12 1 1 2 23 2 27 3 32 1 2 39 3 1 2 27 2 2 3 3 8 2 15 2 16 4 17 3 18 5 1 2009 1 152009 7 1 2 2009 1 1 3 2009 7 1 4 2008 10 1 5 2009 7 1 / 17

2. OO 5,638 1,862 143 (80) 5,781 1,782 4,017 2,923 783 599 4,800 3,522 9,655 4,785 926 519 10,581 5,304 618 119 269 74 887 193 1,955 93 1,955 93 2,892 730 1,373 104 4,265 834 15,120 5,727 2,568 697 17,688 6,424 (23) (23) (420) (420) 5,284 697 5,981 (4,335) (289) (4,624) 949 408 1,357 (256) (151) (407) (78) (78) 615 257 872 44 44 5 5 (123) (123) 659 139 798 18 /

2. OO 3,554 2,348 2,751 1,387 6,305 3,735 3,232 2,355 642 484 3,874 2,839 6,786 4,703 3,393 1,871 10,179 6,574 509 165 265 79 774 244 2,056 191 2,056 191 2,568 641 1,350 56 3,918 697 11,919 5,700 5,008 2,006 16,927 7,706 322 322 (358) (358) 5,664 2,006 7,670 5,842 3,463 9,305 11,506 5,469 16,975 (358) (257) (615) 530 530 11,678 5,212 16,890 (2,117) (2,117) (31) (31) (896) (896) 9,561 4,285 13,846 / 19

3. OO OO 455 719 37 36 124 150 616 905 41 42 (324) (431) 333 516 (77) (158) 256 358 4. OO OO 2 20 154 508 (232) (78) 530 5. OO OO 3,661 1,016 244 329 428 411 161 161 1,752 1,563 177 101 47 31 (275) 175 20 /

6. 579 727 52 25 631 752 (808) 1,183 133 182 (675) 1,365 (44) 2,117 (a) (b) 16.5% 17.5% / 21

7. (a) (b) 692 13,626 4,335 (5,842) (808) 1,183 38 33 (34) 56 320 (2,856) (8) 4,535 6,200 22 /

8. (a) 159,293 294 2,211 234 100 (7) (366) (2,237) (43) (4,335) 155,144 (b) 22,677 111,570 963 19,934 155,144 (c) 9. / 23

10. 356 41 511 758 508 860 1,083 2,257 511 650 2,102 3,767 2,969 4,566 1,368 1,659 1,083 2,257 2,451 3,916 11. 568 791 (42) (98) 526 693 12. 12 1 24 /

13. 14. 424 638 87 40 511 678 39 511 717 15. 16. 2,900 1,450 2,564 1,282 / 25

17. 9 55 63 3 3 15 12 29 45 40 7 186 105 18. (a) (b) (c) (d) 11,264 12,919 264 426 2 45 1,323 2,015 35 46 19. 26 /

(a) 2,088 2,051 4,494 5,548 33,589 27,426 6,380 5,278 46,551 40,303 6,539 6,796 40,012 33,507 / 27

(b) 28 /

2 80 11,475 80 110,000 57 IFC Development Limited 110,000 30,000 1,960,000 / 29

55 110,000 40,000 100,000 2,020,000 62 MBE 100,000 220,000 50,000 30 /

1 56 100,000 50,000 60,000 61 The Association of Former Council Members of The Stock Exchange of Hong Kong Limited 56,557 136,066 / 31

58 118,088 30,000 2,690,000 79 100,000 2 55 Strategic Global Investment plc. 100,000220,000 200,000 32 /

74 100,000 50,000 79 100,000 50,000 76 100,000 3,190,000 / 33

62 100,000 30,000 9,200,000 79 100,000 3,820,000 56 XVVantage Captain Limited 100,00030,000 200,000 13,080,000 34 /

53 100,000 13,880,000 46 1. 2. / 35

XV XV78 352 1. 2008 12 31 18 21,000 1,077,394,347 1 1,077,415,347 1,077,415,347 42.02 486,340 343,000 2 829,340 829,340 0.03 1,976,281 304,065 1,097,428,214 1 1,099,708,560 1,099,708,560 42.88 75,000 1,100,571,895 1 1,100,646,895 1,100,646,895 42.92 1,000 1,000 1,000 0 75,000 1,099,378,522 1 1,099,453,522 1,099,453,522 42.87 1,089,906 1,089,906 203,000 3 1,292,906 0.05 18,000 4 18,000 18,000 0 90,000 90,000 90,000 0 41,186 41,186 41,186 0 66,000 126,500 5 192,500 192,500 0 702,722 339,358 1,042,080 1,042,080 0.04 165,904 165,904 165,904 0.01 195,999 195,999 195,999 0.01 1,000 1,000 1,000 0 1. XV 1,077,394,347 2. Superfun Enterprises LimitedSuperfun343,000Superfun 39.06% 53.01% Hopkins (Cayman) LimitedHopkins Rimmer (Cayman) LimitedRimmer Riddick (Cayman) LimitedRiddick Hopkins Rimmer Riddick XV343,000 3. 4. 12.20% 5. 36 /

2. (a) 2008 12 31 53,178 1,070,000 1 1,123,178 1,123,178 0.06 1,070,000 1 1,070,000 1,070,000 0.05 1,742,500 1 1,742,500 1,742,500 0.08 1,070,000 1 1,070,000 1,070,000 0.05 300,000 300,000 300,000 0.01 100,000 100,000 100,000 0 109,000 109,000 109,000 0 1. XV 1,070,000 (b) 2008 12 31 420,000 1 420,000 420,000 0.08 2,237,767 2 2,237,767 2,237,767 0.41 1. XV 2. XV (c) 2008 12 31 393,350 393,350 393,350 0.10 61,522 61,522 61,522 0.02 18,821 18,821 18,821 0 2009 2 1 / 37

(d) 2008 2008 12 31 12 31 Splendid Kai Limited 2,500 25 1,500 1 15 Hung Carom Company Limited 25 25 15 1 15 Tinyau Company Limited 1 50 1 1 50 8 80 4 1 40 1. XV XV (e) 2008 12 31 2 2 50 Billion Ventures Limited 1 3 50 1 4 50 Central Waterfront Property Holdings Limited 100 5 100 Central Waterfront Property Investment Holdings Limited 50 6 50 CWP Limited 1 7 50 100 8 25 1 4 50 1 9 50 Fullwise Finance Limited 2 2 50 1 10 50 1 11 25 Joy Wave Development Limited 1 4 50 2,459 12 24.59 3,050 13 33.33 New Treasure Development Limited 1 11 25 1 14 50 1 11 25 1 15 33.33 Tartar Investments Limited 300 16 30 4,918 17 49.18 1 4 50 1 18 50 1 18 50 World Space Investment Limited 4,918 17 49.18 38 /

1. Superfun 343,000Superfun 39.06% 53.01% Hopkins Rimmer Riddick Hopkins Rimmer Riddick XV 343,000 2. 250%Masterland Limited 1 3. Chico Investment LimitedChico1 1 4. 1 1 5. Central Waterfront Property Investment Holdings Limited100Starland International LimitedStarland 34.21% Starland1 6. 50Starland 34.21Prominence Properties Limited Prominence15.79StarlandProminence 39.06% 1 7. Starland1 1 8. 100 1 9. Masterland Limited1 1 10. Atex Resources Limited1 Mightymark Investment Limited1 11. Citiplus Limited1 1 12. Chico 2,459 1 13. Quickcentre Properties Limited3,050Andcoe Limited 50% Andcoe LimitedBrightland Enterprises Limited Brightland Enterprises Limited1 14. 1 1 15. 1Kingslee S.A.67.94% Kingslee S.A.1 16. Kenforce Investment Limited300 1 17. Billion Ventures Limited4,918 Chico50% 1 18. Dandy Investments Limited1 1 XV 7 8 352 / 39

1. 2. a. (i) (ii) 10.383.882.34 1.43 1.59 (a) (b) (c) 1.41 40 /

2008 2008 7 1 12 31 2003 11 29 1.59 320,333 133,333 1 187,000 2003 11 29 1.59 216,667 216,667 1. 17.07 b. 10% c. 2008 2008 7 1 12 31 2003 2 10 9.29 2003 2 10 3,000,000 1 3,000,000 2011 7 16 2003 2 10 9.20 2003 5 2 133,500 2 133,500 2012 5 1 2004 2 5 9.00 2005 2 5 970,000 3 970,000 2014 2 4 2004 2 5 9.00 2005 2 5 4,990,000 (440,000) 4,550,000 2014 2 4 2005 3 1 9.05 2006 3 1 193,000 193,000 2015 2 28 / 41

1. 5,000,00020 2003 2 10 40 2003 7 17 60 2004 7 17 80 2005 7 17 2006 7 17 2. 200,0002003 5 2 2004 5 2 2005 5 2 3. 2005 2 5 2006 2 5 2007 2 5 17.07 XV23 336 2008 12 31 HSBC Trustee (C.I.) Limited HTCIL 1,077,394,347 1,077,394,347 1 42.01 Cerberus Group Limited CGL 1,065,679,347 1,065,679,347 1 41.56 Vantage Captain Limited VCL 75,830,929 989,848,418 1,065,679,347 1 41.56 1. VCLCGL CGLHTCIL XV23 336 336 183 17 1712-1716 42 /

8%13.22 47,143 20,346 26,269 10,672 (6,294) (2,731) (59,494) (25,401) 7,624 2,886 2410 12 / 43

International Commerce Centre, Kowloon Station II The Cullinan II I The Cullinan I 465YOHO Town Interim Report 2008/09 SUN HUNG KAI PROPERTIES LIMITED

Two IFC, Central The Latitude, Kowloon YOHO Town YOHO Town Phase 2, Yuen Long Shanghai IFC, Shanghai Recent good sales show customer confidence in the Group s brand and the quality of its products. The Group tailors new projects to meet changing preferences and it strives to enhance returns by following the speed, quality, efficiency principle. Occupancy of the Group s rental portfolio remains high at 94 per cent. International Commerce Centre at Kowloon Station is 90 per cent leased or pre-lease and tenants have moved in to the first phase as planned. The Group has a consistent and selective approach to the property business on the mainland. Shanghai IFC in the Lujiazui financial trade zone is on schedule for completion in 2010, and projects in Wei Fong and on Huai Hai Zhong Road in Shanghai are underway. The Group will pre-sell new projects when they are ready. Major residential developments in Hong Kong to go on sale in the next nine months include The Latitude in Kowloon, Tuen Mun Town Lot 465 and YOHO Town phase 2 in Yuen Long. Interim Report 2008/09 SUN HUNG KAI PROPERTIES LIMITED

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