2015 年 報
2 3 4 8 10 29 39 59 61 62 63 65 66 69 157 158 1
925 Clarendon House 2 Church Street Hamilton HM 11 Bermuda 18 66 (852) 2511 6016 (852) 2598 6905 Codan Services Limited Clarendon House, 2 Church Street, Hamilton, HM11, Bermuda 183 22 www.bphl.com.hk 2
# 67.23% 925 100% 100% 100% 15.10% 100% 76% 70% 70% 100% 100% 60% 80% 98.9% # 67.23% ** + ++ ^ 3
52 52 CAQ Holdings Limited CAQ CAQ 47 CAQ 1131 51 392 371 54 4
30 52Netherlands International Institute for Management 25 969 718 1803 Development Bank of Singapore Ltd. 6930 CEC 759 2728 50 600340 6230 4328032 5
58 TORAY University of Illinois 62 51 43 53 52 6
55 Coventry Polytechnic 43 42 Curtin University University of South Australia 51 47 24 59 40 4422 52 30 7
1) 2) 296,572,000 258,454,000 1. 220 821,308 248,022 113 2. 245,897 65,525 100,000 8
252,683 113,000 + 3,000,0001,000,000 9
258,450,000 166,880,000 1 2 1) 821,308 248,022 (%) (%) (%) * 76 550,690 InterLog DHL 1 100 211,985 211,985 90.03 94.48 Kintetsu Express 19 70 24,321 24,321 85.44 96.4 Kintetsu Express F 70 34,312 11,716 100 100 2 821,308 248,022 * 1 2 11,716 22,596 10
1) (a) 291,340 300,000 1.15 (b) 2390.03% 90.37% 81.54% 8.83 1.42 Global Logistics Properties Ltd (c) 85.44%93.32% 98.73% 5.41 1.59 (d) 0.84 22,596 1.08 11
1) (a) 394,000176,000 20,000 14,0009,700 8,0004,600 218,000 (b) 80% 140,100,000 80% 50,226 0.9 3% (c) 80% 151,690,000 80% 52,422 0.95 12
1) (d) 172,900,000 80% 79,923 0.925 (e) 122,830,000 60% 97,80924,660.36 0.94 33,333 821,308 1,130,000 13
2) 245,897 (%) (%) (%) 60 65,525 65,525 2012 100 180,372 1 34,815 100 Quzhou Fruit and Vegetable Association Quzhou Counsel of Dry Grocery 245,897 100,340 1 34,815 145,557 (a) 65,525100,00053,000 14
2) (b) 150 3,000 5234,815 1 1% 145,55783,293 25,00023,0004,408 9,856 (a) 40,000,000 80% 15,351.5 6,785.8413,000 245,897 252,683 15
3) (a) 99% 62,000 11 90.21% (b) 333 78.39% 4) (a) 2389 20.86% 15.14% (b) CAQ Holdings Limited CAQ CAQ 40%CAQ 83,000,000 CAQ 12.67% 87,165 40% CAQ 16
220 (2014-2020 + 2016-2021 10,488 20%-30% 17
8% 20%5.5% 3,000,0001,000,000 18
296,570,000202,980,000 93,590,000 46.11% 231,360,000166,640,000 64,720,000 38.84% (i) (ii) (iii)(iv) % % % 116,245 96.48 106,815 94.36 9,430 2.12 15,937 93.62 17,740 96.57-1,803-2.95 4,330 98.84 1,286 100.00 3,044-1.16 58,341 85.16 23,494 88.63 34,847-3.47 96,274 47.81 43,925 45.30 52,349 2.51 1,905 100 1,905 * 3,540 67.68 9,723 68.87-6,183-1.19 296,572 78.01 202,983 82.09 93.589-4.08 * 19
116,250,000 106,820,000 9,430,000 8.83% 94.36% 96.48% 15,940,00017,740,000 1,800,000 10.15% 96.57% 93.62% 4,330,000 1,290,000 3,040,000 235.66% 100% 98.84% 58,340,00023,500,000 34,840,000 148.26% 88.63% 85.16% 20
96,270,000 47.81% 78.39% 553.2661,030,000 53.28% 21,700,000 8.19% 13,540,00086.66% 1,910,000 100% CAQ Rayport Limited Rayport Rayport 40% Rayport CAQ 83,000,000CAQ 12.67% Rayport 57,610,000 82.24% 408,000,000144,630,000 21
19%47,220,000 106,100,000 58,880,000 174,340,000 46,590,000 48,090,00028,820,000 19,270,000 66.86% 18,970,000 17,560,000 5,830,000 11,730,000 201.20% 191,750,000180,000,000 11,750,000 6.53% (i) 18,520,000 (ii) 34,920,000 20,240,000 55,160,000 (iii) 17,630,000(iv) 10,620,000 22
12,390,0002,240,00010,150,000 453.13% 83,010,00032,000,000 51,010,000 159.4% (i) 20,100,000 36,860,00056,960,000 (ii) CAQ 18,330,000 (iii) 11,690,000 178,850,000123,920,000 54,930,000 44.33% (i) PAG 40,700,000 24,610,000 31,610,00021,850,000 (ii) 96,620,000 70,420,000 26,200,000 37.21% (iii) 16,920,000 4,680,000 20,440,000 25,120,000 380,000 2,770,000 3,150,000 11,466,540,000 9,555,330,000 1,911,210,000 20.00% (i) 2,258,370,000 (ii) 99,340,000 (iii)400,000,000 23
7,005,860,000 5,243,370,000 1,762,490,000 33.61% (i) 2,258,370,000 (ii)272,170,000 (iii) 216,640,000 4,220,420,000 4,161,840,000 58,580,000 1.41% (i) (ii) 5,313,390,000 3,333,910,000 (i) 2,032,220,000 (ii) 413,070,000 PAG (iii) 609,730,000 (iv) 2,258,370,000 43.89%48.52% 2,032,220,00043.39% 44.87% 11.74% 88.96% 3,355,430,00046.87% 17.49% 35.64% PAG 45.5 24
116.92% 116.89% 73.82% 73.76% PAG 1,957,960,000 2,092,150,000134,190,000 23,000,000 42,000,000 430,850,000 3,020,850,000 1,115,490,000 (i) 70% 3,520,000 4,210,000 (ii) 60%43,570,000 51,990,000 (iii) 67,080,000 82,760,000 (iv) 301,940,000 360,270,000 (v) 84,090,000 100,340,000 25
(vi) 80%163,120,000 194,630,000 (vii) 80%147,920,000 176,500,000 (viii) 60%97,830,000 116,740,000 (ix) 23,520,000 28,060,000 (a) 394,000 176,000 20,000 14,0009,700 8,0004,600 218,000 26
(b) 80% 80% 140,092,500 50,226 (c) 350.6 369,888,475 50 (d) 80% 80% 151,687,360 52,422 (e) 80% 60% 80% 60% 172,920,000122,830,000 79,923 97,809 27
(f) 80% Vision Crystal Limited 80% 40,000,000 6,785.8413,000 1,514,140,000 14,000,000 13,940,000 530 549 93,100,000 117,230,000 28
29
30
4 2 3 2 2 4/4 0/2 4/4 2/2 0/2 4/4 2/2 4/4 0/2 4/4 3/3 2/2 0/2 4/4 0/2 2/3 0/2 4/4 2/2 3/3 2/2 2/2 4/4 2/2 0/2 4/4 2/2 3/3 2/2 2/2 4/4 2/2 3/3 2/2 1/2 2/4 0/2 2/3 1/2 0/2 31
3.13 32
A.6.7 A.6.7 E.1.2 30 33
1. 2. 3. 4. 5. (www.bphl.com.hk) (i) (ii) (iii) 34
35
3,800,000 2,100,000 3.2915 59 60 36
(ir@bphl.com.hk) 1866 1. 2. 1866 3. 77 4. 10 14 10 5. 37
1. 2. 38
1 61 156 8 9 48 49 10 28 39 40 39
158 13 14 157 36 37 32 40
38 51 333,339,000 423,880,000 (a) (b) 1,705,102,000 21.53% 5.14% 30% 5% 41
111(A) 114 13.51B(1) 42
CAQ Holdings Limited 13.51B(1) 4 7 35 37 43
XV 352 (%) 9,690,000 0.143 7,000,000 0.103 16,690,000 0.246 XV 352 44
1 30%12 1% (i) (ii) (iii) 37 45
2 2 1 1 6,000,000 6,000,000 4,250,000 4,250,000 11,000,000 11,000,000 9,000,000 9,000,000 4,000,000 4,000,000 5,000,000 5,000,000 0.465 0.410 0.574 0.940 0.750 0.720 34,250,000 5,000,000 39,250,000 6,000,000 6,000,000 6,000,000 6,000,000 10,000,000 10,000,000 9,000,000 9,000,000 4,000,000 4,000,000 5,000,000 5,000,000 0.465 0.410 0.574 0.940 0.750 0.720 35,000,000 5,000,000 40,000,000 5,000,000 5,000,000 5,000,000 5,000,000 6,000,000 6,000,000 5,000,000 5,000,000 3,000,000 3,000,000 4,000,000 4,000,000 0.465 0.410 0.574 0.940 0.750 0.720 24,000,000 4,000,000 28,000,000 5,000,000 5,000,000 3,300,000 3,300,000 6,000,000 6,000,000 4,000,000 4,000,000 2,000,000 2,000,000 3,000,000 3,000,000 0.465 0.410 0.574 0.940 0.750 0.720 20,300,000 3,000,000 23,300,000 46
2 2 1 1 5,000,000 5,000,000 5,000,000 5,000,000 4,000,000 4,000,000 4,000,000 4,000,000 1,000,000 1,000,000 3,000,000 3,000,000 0.465 0.410 0.574 0.940 0.750 0.720 19,000,000 3,000,000 22,000,000 4,000,000 4,000,000 1,000,000 1,000,000 3,000,000 3,000,000 0.940 0.750 0.720 5,000,000 3,000,000 8,000,000 2,000,000 2,000,000 1,837,700 1,837,700 2,000,000 2,000,000 1,500,000 1,500,000 1,000,000 1,000,000 0.465 0.410 0.574 0.940 0.720 7,337,700 1,000,000 8,337,700 2,000,000 2,000,000 2,000,000 2,000,000 1,500,000 1,500,000 1,000,000 1,000,000 0.465 0.574 0.940 0.720 5,500,000 1,000,000 6,500,000 2,000,000 2,000,000 2,000,000 2,000,000 1,500,000 1,500,000 1,000,000 1,000,000 0.465 0.574 0.940 0.720 5,500,000 1,000,000 6,500,000 1,000,000 1,000,000 1,000,000 1,000,000 0.720 0.720 47
2 2 1 1 * 5,000,000 5,000,000 4,000,000 4,000,000 4,000,000 4,000,000 1,000,000 1,000,000 3,000,000 3,000,000 0.465 0.574 0.940 0.750 0.720 14,000,000 3,000,000 17,000,000 156,000,000 (5,000,000) 151,000,000 268,925,400 (5,000,000) 263,925,400 129,000,000 (6,000,000) 123,000,000 146,500,000 146,500,000 24,000,000 24,000,000 53,000,000 53,000,000 0.465 0.410 0.574 0.940 0.750 0.720 724,425,400 53,000,000 (16,000,000) 761,425,400 894,313,100 84,000,000 (16,000,000) 962,313,100 * 1. 2. 0.77 0.68 3. 48
5,000,000 1,291 5,000,000 1,291 3,000,000 774 4,000,000 1,033 3,000,000 774 3,000,000 774 1,000,000 258 1,000,000 258 1,000,000 258 1,000,000 258 1,000,000 258 3,000,000 774 53,000,000 12,241 84,000,000 20,242 20,242,000 66,848,000 49
18 336 (%) (a) 1,557,792,500 1,557,792,500 23.02% (b) 2,417,076,407 1,557,792,500 3,974,868,907 58.74% (c) 3,974,868,907 3,974,868,907 58.74% Illumination Holdings Limited (d) 87,451,458 87,451,458 1.29% (e) 487,166,195 87,451,458 574,617,653 8.49% (f) 4,549,486,560 4,549,486,560 67.23% Thular Limited (g) 354,400,000 354,400,000 5.24% (g) 354,400,000 354,400,000 5.24% Kerry Group Limited (g) 354,400,000 354,400,000 5.24% PA Broad Opportunity VI Limited (h) 838,573,244 838,573,244 12.39% Pacific Alliance Asia Opportunity Fund L.P. (h) 838,573,244 838,573,244 12.39% Pacific Alliance Group Asset Management Limited (h) 838,573,244 838,573,244 12.39% Pacific Alliance Group Limited (h) 838,573,244 838,573,244 12.39% Pacific Alliance Investment Management Limited (h) 838,573,244 838,573,244 12.39% PAG Holdings Limited (h) 838,573,244 838,573,244 12.39% 50
(a) 1,557,792,500 (b) (i) 2,417,076,407(ii) 1,557,792,500 (c) (d) Illumination Holdings Limited Illumination 87,451,458 (e) (i) 487,166,195 (ii) Illumination Illumination 87,451,458 Illumination (f) (g) Thular Limited Thular Timekey Limited 354,400,000 Thular Kerry Group Limited KGL KGLThular (h) PA Broad Opportunity VI Limited 490,510,000 80,000,000 0.74 838,573,244 336 45 A14A.45 51
A Maple Garden Group Limited Maple Garden Maple Garden 49% Maple Garden21,556,239 140,000,000 Maple Garden 50% Maple Garden A 14A.33 (a) 250,000,000 i. ii. iii. 52
(a) 30% 30% A (b) 66,000 4,200,000 60% 20% 55 45 A 53
(c) 30% 100% E2-101 A16 182.45 85.59 96.86 B15 1. E1-101 339.29 222,914 246,436 2. E2-102 E2-101-1 E2-101-2 156.84 103,044 113,918 96.86 63,637 3 70,352 3. C 2/F-C100 B15 221.82 145,736 272,489 387.22 142,224 1 234,374 54
(c) 4. A16 601.5 2 242,715 5. A16 E2-101 E2-101 601.5 207,120 2 242,715 182.45 3 132,519 85.59 56,233 3 62,167 300,000 1 200,000 A 55
(c) 1. 2. 3. 182.45 85.59 96.86 A (i) (ii) (iii) 3000 740 14A.38 6,2007,398 56
32 13.18 13.21 120,000,000 1 490,510,000 2 25,000,000 120,000,000 1 294,500,000 1 1. 40% (a) (b) 2. 40% 57
25% 49 58
Ernst & Young 22/F, CITIC Tower 1 Tim Mei Avenue Central, Hong Kong 1 22 Tel : +852 2846 9888 Fax : +852 2868 4432 ey.com 61 156 90 59
60
5 296,572 202,983 (65,211) (36,345) 231,361 166,638 14 99,344 314,951 40 202,241 6 90,585 39 58,876 18(i) 174,335 18(i) 46,593 5 48,091 28,824 (17,555) (5,832) (191,747) (180,004) (12,394) (2,238) (83,013) (32,006) 7 (178,850) (123,918) 17(b) 4,676 (20,440) 18 (381) 2,773 8 322,701 298,209 11 (67,118) (107,199) 255,583 191,010 258,454 166,876 (2,871) 24,134 255,583 191,010 12 3.82 2.52 3.80 2.43 61
255,583 191,010 19 (46,682) 19 18,332 (184,101) (72,949) 40 2,343 19,348 (20,021) (24,846) (20,512) 447 (231,293) (97,348) 34(b) (1,909) (2,316) (233,202) (99,664) 22,381 91,346 30,523 70,693 (8,142) 20,653 22,381 91,346 62
13 946,002 887,181 14 5,016,741 5,209,917 15 19,763 250,112 16 62,769 212,650 17 526,430 451,072 18 478,365 19 740,069 3,541 20 186,482 138,601 11,932 135,642 24 5,860 53,321 7,516,048 7,820,402 21 96,932 101,471 22 1,015 1,253 23 14,979 13,085 24 228,447 80,806 17 252,962 295,537 25 736 1,023 26 277,682 927,154 26 3,077,743 314,602 3,950,496 1,734,931 27 141,150 73,115 28 294,268 257,121 17 4,163 25 634 11,340 29 1,807,907 844,985 30 609,725 638,287 27,755 8,226 31 497,329 513,096 3,378,768 2,350,333 571,728 (615,402) 8,087,776 7,205,000 63
25 32,160 238,095 29 224,322 1,459,417 32 413,074 391,219 33 2,258,365 34 16,609 15,089 35 682,562 789,212 3,627,092 2,893,032 4,460,684 4,311,968 36 676,659 675,059 38 3,543,761 3,486,778 4,220,420 4,161,837 240,264 150,131 4,460,684 4,311,968 64
38 38 624,312 1,400,021 367,278 115,318 5 258 127,788 2,705 792,514 3,430,199 67,233 3,497,432 166,876 166,876 24,134 191,010 (70,047) (70,047) (2,902) (72,949) (24,846) (24,846) (24,846) 447 447 447 (1,737) (1,737) (579) (2,316) (94,446) (1,737) 166,876 70,693 20,653 91,346 36(a) 1,830 10,641 (3,982) 8,489 8,489 32, 36(b) 200 1,204 (172) 1,232 1,232 36(c),(d) 48,717 283,007 331,724 331,724 39 220,171 220,171 5,331 5,331 (157,926) (152,595) 37(a) 66,848 66,848 66,848 32 (86) 86 32 247,321 247,321 247,321 299 (299) 675,059 1,694,873* 367,278* 178,184* 5,336* 247,321* * 33,342* 3,004* (1,737)* 959,177* 4,161,837 150,131 4,311,968 258,454 258,454 (2,871) 255,583 (46,682) (46,682) (46,682) 18,332 18,332 18,332 (178,830) (178,830) (5,271) (184,101) 2,343 2,343 2,343 19,348 19,348 19,348 (20,021) (20,021) (20,021) (20,512) (20,512) (20,512) (1,909) (1,909) (1,909) (28,350) (197,672) (1,909) 258,454 30,523 (8,142) 22,381 36(a), 37 1,600 10,229 (4,011) 7,818 7,818 40 (18,320) (18,320) 116,595 116,595 37(a) 20,242 20,242 20,242 676,659 1,705,102* 367,278* 194,415* 5,336* 247,321* (28,350)* (164,330)* 3,004* (3,646)* 1,217,631* 4,220,420 240,264 4,460,684 * 3,543,761,0003,486,778,000 65
322,701 298,209 39 (58,876) (27,228) (8,255) (14,075) (18,751) 6 (90,585) 40 (202,241) 18(i) (174,335) 18(i) (46,593) 8 41 132 14 (99,344) (314,951) 13 37,175 15,720 (1,397) 15 3,095 6,753 31 12,394 2,238 37(a) 20,242 66,848 34(b) 814 1,045 7 178,850 123,918 19 18,332 17(b) (4,676) 20,440 18 381 (2,773) 24,136 41,112 183 (39) (2,064) 12,738 (21,319) (18,620) (1,013) 68,366 (5,687) 11,304 12,625 (419) (403) 31 (4,955) (3,352) 75,232 37,361 (15,250) (11,710) 59,982 25,651 66
13 (16,219) (3,859) 86 8 116,595 21,320 (279,529) (369,664) (29,523) 39 (247,041) (90,683) 10,871 3,373 380,737 (7,248) 18(i) (472,500) (62,000) 24,982 21,030 376,475 (186,482) (138,601) (11,932) (99,404) 17,338 (27,480) 69,210 19,574 395,998 (1,376,564) (1,795) (75,500) 644,501 1,357,268 (1,123,646) (367,305) 616,286 2,256,760 638,287 32 (650) (131,070) (65,801) 36(a) 7,819 8,489 1,652,569 2,111,074 67
2,108,549 760,161 1,241,276 468,154 22,458 (14,039) 3,345,282 1,214,276 26 769,441 227,980 26 2,308,302 86,622 26 3,077,743 314,602 26(b) 277,682 927,154 (10,143) (27,480) 3,345,282 1,214,726 68
1. 1.00 100 100 ^# 49,800,000 100 # 6,660,000 70 ^# 6,500,000 70 ^ 98,500,000 100 69
1. 11,520,000 100 # 28,080,000 98.90 # # 112,500,000 60 ^# 10,000,000 100 ^# 2,000,000 100 ^ # 12 3,434,098,0003,590,023,000 29(a)(iii) 70
2.1 (a) (b) (c) 71
2.1 (i) (ii) (iii) (i)(ii) (iii) 2.2 19 (a) 19 (b) 8 8 72
2.2 (b) 1638 24 45(a)(v) (c) 33 1313 939 13 13 40 3 40 622 73
2.3 9 2 10 1 28 10 1 12 28 11 1 14 3 15 2 1 1 16 1 38 16 1 41 27 1 1 1 2 3 (a) 9 39 9 9 (b) 1028 10 28 74
2.3 (c) 11 3 11 (d) 1515 15 15 15 15 15 (e) 1 (i) 1 (ii) (iii) (iv) 75
2.3 (f) 1638 1638 2.4 20% 76
2.4 77
2.4 78
2.4 (a) (i) (ii) (iii) (b) (i) (ii) (iii) (iv) (v) 79
2.4 (b) (vi) (a) (vii) (a)(i) (viii) 40 4 5 10 3 5 5 80
2.4 81
2.4 (i) (ii) (a) (b) 82
2.4 (i) 83
2.4 (ii) (a)(b) 84
2.4 (i) (ii) (i)(ii) 85
2.4 86
2.4 87
2.4 (a) (b) (c) 88
2.4 37 89
2.4 90
2.4 91
3. (a) (b) (c) 14(b) 92
3. 18(i) 93
3. 62,769,000212,650,000 16 14,979,00013,085,000227,946,000 118,038,000 23 24 31 94
3. 27,755,000 8,226,000 4. (a) (b) 95
4. 154,615 67,420 141,957 135,563 296,572 202,983 32,344 67,000 314,951 99,344 314,951 186,959 67,420 208,957 450,514 395,916 517,934 90,585 202,241 58,876 174,335 46,593 27,228 8,255 14,075 18,751 6,788 1,818 867,176 696,219 22,788 13,655 118,920 385,352 141,708 399,007 (20,421) 4,676 (19) 4,676 (20,440) (381) (1,928) 4,701 (381) 2,773 22,407 (8,694) 123,596 390,034 146,003 381,340 90,585 58,876 202,241 174,335 46,593 27,228 8,255 14,075 18,751 6,788 1,818 (56,964) (20,096) (58,748) (117,402) (178,850) (123,918) 322,701 298,209 96
4. 3,324,477 2,712,734 4,099,739 5,022,266 7,424,216 7,735,000 4,042,328 1,820,333 11,466,544 9,555,333 (726,923) (721,924) (162,404) (91,615) (889,327) (813,539) (6,116,533) (4,429,826) (7,005,860) (5,243,365) 35,098 13,511 2,035 1,358 37,133 14,869 42 851 37,175 15,720 3,095 6,753 3,095 6,753 526,430 451,072 526,430 451,072 478,365 478,365 12,394 2,238 12,394 2,238 40,696 31,646 * 148,139 2,485,261 284,322 453,630 432,461 2,938,891 56 428 432,517 2,939,319 * 90%90% 10% 97
5. (1) (2) (3) 194,384 156,481 96,274 43,925 5,914 2,577 296,572 202,983 27,228 8,255 14,075 18,751 1,397 5,391 1,818 48,091 28,824 98
6. 44,880,000 57.34% 5,077,000 75%25% (i) 57.34% 5,077,000 (ii) 90,858,000 7. 96,621 70,422 24,609 21,850 32 40,696 31,607 16,924 39 178,850 123,918 99
8. 29,500 11,946 32,985 24,019 2,726 380 * 13 37,175 15,720 15 3,095 6,753 4,869 7,559 *** 41 132 3,800 3,800 9 * 59,480 50,192 ** 20,242 55,155 10,327 10,840 34(a) 814 1,045 90,863 117,232 *** 11,693 *** 18,332 *** 56,964 20,096 * 17,417,0008,575,00013,907,00010,252,000 ** *** 100
9. 383(1)(a) (b) (c) (f) 2 1,707 1,933 1,821 1,521 (a) 1,241 1,225 (b) 8,002 28,670 11,064 31,416 12,771 33,349 101
9. 180 569 1,291 2,040 180 1,821 571 1,291 3,863 144 101 1,034 1,279 144 774 918 132 774 906 132 774 906 3 3 132 774 906 1,047 1,821 1,241 6,712 10,821 132 258 390 132 258 390 132 258 390 132 258 390 132 258 390 660 1,290 1,950 1,707 1,821 1,241 8,002 12,771 102
9. 180 4 5,008 5,192 180 1,515 569 5,008 7,272 144 656 2,990 3,790 144 2,285 2,429 132 2,019 2,151 132 2,019 2,151 132 2,019 2,151 15 15 84 1 1,752 1,837 108 1 2,285 2,394 1,251 1,521 1,225 25,385 29,382 132 657 789 132 657 789 132 657 789 11 11 11 11 132 657 789 132 657 789 682 3,285 3,967 1,933 1,521 1,225 28,670 33,349 (a) (b) 37 (c) 103
10. 9 4,098 1,027 2,194 1,327 394 149 6,686 2,503 1,500,0012,000,000 4 2,000,0012,500,000 1 37 104
11. 35,739 19,427 (301) 1,116 35 31,680 86,656 67,118 107,199 105
11. % % % 281,961 40,740 322,701 46,523 16.5 10,185 25.0 56,708 17.6 (741) (0.3) 36 0.1 (705) (0.2) 27,549 9.8 0.0 27,549 8.5 7,651 2.7 0.0 7,651 2.4 1,478 0.5 0.0 1,478 0.5 (77,807) (27.6) (2,550) (6.3) (80,357) (24.9) 32,055 11.4 5,763 14.1 37,818 11.7 0.0 17,277 42.4 17,277 5.4 0.0 (301) (0.7) (301) (0.1) 36,708 13.0 30,410 74.6 67,118 20.8 106
11. % % % (22,355) 320,564 298,209 (3,679) 16.5 80,150 25.0 76,471 25.6 (291) 1.3 5,105 1.6 4,814 1.6 7,752 (34.7) 7,752 2.6 (33,182) 148.4 (925) (0.3) (34,107) (11.4) 37,152 (166.2) 2,198 0.7 39,350 13.2 1,116 0.3 1,116 0.4 11,803 3.7 11,803 4.0 7,752 (34.7) 99,447 31.0 107,199 35.9 1,800,0001,930,000 2,501,000 12. 6,761,162,775 6,615,956,321 (i) (ii) 107
12. 258,454 166,876 6,761,162,775 6,615,956,321 36,865,438 243,307,113 6,798,028,213 6,859,263,434 108
13. 696,997 118,365 3,442 70,555 9,545 7,948 906,852 (7,260) (2,667) (2,240) (5,356) (2,148) (19,671) 689,737 115,698 1,202 65,199 7,397 7,948 887,181 689,737 115,698 1,202 65,199 7,397 7,948 887,181 138,121 7,217 1,793 4,181 549 151,861 (17,210) (5,677) (1,914) (10,200) (2,174) (37,175) (31) (112) (143) 40 (7,946) (17) (1,665) (344) (3,830) (13,802) (30,302) (9,083) (216) (2,894) (231) 806 (41,920) 642,225 231,113 6,272 52,202 8,717 5,473 946,002 665,806 237,212 10,111 63,215 11,286 5,473 993,103 (23,581) (6,099) (3,839) (11,013) (2,569) (47,101) 642,225 231,113 6,272 52,202 8,717 5,473 946,002 109
13. 9,902 6,770 4,180 4,427 5,849 31,128 (888) (5,631) (2,216) (1,468) (10,203) 9,014 1,139 1,964 2,959 5,849 20,925 9,014 1,139 1,964 2,959 5,849 20,925 39 700,389 108,692 182 64,739 5,739 2,561 882,302 35 565 193 524 2,542 3,859 2,605 (2,605) (7,316) (1,841) (662) (4,242) (1,659) (15,720) (49) (91) (140) (3,336) (202) (22) (11) (75) (399) (4,045) 689,737 115,698 1,202 65,199 7,397 7,948 887,181 696,997 118,365 3,442 70,555 9,545 7,948 906,852 (7,260) (2,667) (2,240) (5,356) (2,148) (19,671) 689,737 115,698 1,202 65,199 7,397 7,948 887,181 58,530,00063,248,000 29(a)(i) 110
14. 2,780,874 138,187 2,919,061 39 1,602,965 80,229 1,683,194 1,880 367,784 369,664 15 300 300 281,823 33,128 314,951 (70,808) (6,445) (77,253) 4,596,734 613,183 5,209,917 66 279,463 279,529 15 1,127 1,127 62,919 (62,919) 50,256 49,088 99,344 40 (345,760) (345,760) (189,873) (37,543) (227,416) 4,171,342 842,399 5,016,741 (a) (b) 5,016,741,0005,209,917,000 111
14. (b) 13 (i) (%) 5.8-10% 7% (ii) 121,870,372 (iii) 3,000 85,000 109,276,158 1,500 86,500 (i) 3,700 19,600 250 2,220 112
14. (b) (c) 43(a) (d) 4,636,816,0004,334,743,000 29(a)(ii) 15. 257,109 270,788 (3,095) (6,753) 14 (1,127) (300) 40 (236,320) 3,506 (6,626) 20,073 257,109 24 (310) (6,997) 19,763 250,112 20,073,00021,338,000 113
16. 44,031 168,619 212,650 149,881 149,881 39 44,031 18,738 62,769 40 (149,881) (149,881) 44,031 18,738 62,769 44,031 168,619 212,650 (i) 13 114
16. (ii) 13 13 12.4% 20 115
17. 517,835 442,477 8,595 8,595 (a),(b) 526,430 451,072 (c) 252,962 295,537 (c) (4,163) 779,392 742,446 (a) 600,000,000 76 76 76 50% (b) 39(a)(ii) 116
17. (b) 494,666 840,440 492,648 49,150 (305,952) (307,383) 681,362 582,207 47,264 395,997 (304,832) (273,553) 76% 76% 517,835 442,477 8,595 8,595 526,430 451,072 25,997 2,031 7,895 212 (11,263) (19,863) (6,885) (3,258) (147) (6,208) 21,011 12,202 (41,161) (2,368) (113) 2,520 6,153 (26) (25,525) (26,344) 14,461 (17,178) (20,191) 14,435 (42,703) 4,676 (20) (20,420) 117
17. (c) 206,400,000 250,074,000 219,000,000 273,533,000 4.35 7.1 18. 363,819 114,546 478,365 118
18. (i) (ii) 89,553 2,891,526 (1,028,648) 1,952,431 (209,171) 1,743,260 20.86% 363,819 (i) 114,546 478,365 100,452 (106,925) (37,711) (4,819) 46,997 67,053 (59,928) 29,342 (4,819) (135,120) 7,255 (1,791) (195,048) 36,597 (6,610) (381) 4,701 (1,928) 119
18. (i) 20.86% 472,500,000 20.86% 357,954,000 114,546,000 1,711,739,000 20.86% 15.14%46,593,000 20% 20% 174,335,000 (ii) Rayport Limited Rayport 40% 83,000,000 Rayport Rayport 18,260,000105,178,000 120
19. (a) 740,069 (b) 3,541 740,069 3,541 (a) 46,682,000 18,332,000 (b) 3,541,000 40 121
20. (a) 186,462 (b) 138,601 186,462 138,601 (a) 154,484,000 49 (b) 50%109,891,000 138,601,000 24 21. 29(a)(iv) 22. 122
23. (a) 14,252 11,362 364 1,723 363 14,979 13,085 14,979 10,987 2,098 14,979 13,085 (b) 2,098,000 29(a)(v) 123
24. 6,051 9,092 15 310 6,997 58,902 93,056 (a) 24,982 20(b) 138,601 (b) 30,443 234,307 134,127 (228,447) (80,806) 5,860 53,321 (a) 31.04% 40,800,000 51,469,000 4,080,000 5,147,000 16,720,000 21,413,000 20,000,000 24,982,000 (b) 4.85 6 124
25. 76 332 660 691 736 1,023 34 2,116 205,227 32,760 42,092 32,794 249,435 (634) (11,340) 32,160 238,095 205,227,000 125
26. 1,047,123 1,155,134 2,308,302 86,622 (a) 3,355,425 1,241,756 (b) (277,682) (927,154) 3,077,743 314,602 (a) 956,669,000976,956,000 (b) 80,622,000 197,000,000 288,866,000 638,288,00029(a)(iv) 30 126
27. 100,756 24,347 1,147 623 403 454 38,844 47,691 141,150 73,115 28. 20,717 21,688 14,674 13,406 25,333 54,314 64,400 190,656 145,275 34(b) 501 425 294,268 257,121 127
29. (a) 1,738,466 2,222,146 293,763 75,000 2,032,229 2,297,146 7,256 2,032,229 2,304,402 1,807,907 837,729 21,837 1,347,211 103,557 112,206 98,928 2,032,229 2,297,146 7,256 2,032,229 2,304,402 (1,807,907) (844,985) 224,322 1,459,417 (a) 238,640,000121,763,000 5.39 7.86 6.8 7.86 128
29. (a) (i) 58,530,00063,248,00013 (ii) 4,636,816,0004,334,743,000 14(d) (iii) 3,434,098,0003,590,023,0001 (iv) 96,932,000101,471,000 2180,622,000 288,866,000 26(b) (v) 2,098,000 23(b) (b) 750,934 1,210,554 238,640 129,018 1,042,655 964,830 2,032,229 2,304,402 (c) 624,838,000895,162,000 40% 30. MJQ MJQ MJQ 35888,000,000 35% 129
30. 511,000,000638,287,000 MJQ MJQ MJQ 31. 513,096 39 514,243 12,394 2,238 (4,955) (3,352) (23,206) (33) 497,329 513,096 411,658,000 514,243,000 130
31. 32. (a) PAG* (b) 499,850,000 490,510,000 4 0.65 0.74 * (a) (b) PAGPA Broad Opportunity VI Limited 131
32. (b) PAG 2.4 PAG 1,950 1,950 628,196 628,196 36(b) (1,300) (1,300) (650) (650) 628,196 628,196 1,832 1,832 * 368,965 368,965 36(b) (1,232) (1,232) (611) (611) 7 11 31,596 31,607 (9,342) (9,342) 391,219 391,219 7 40,696 40,696 (18,841) (18,841) 413,074 413,074 258 258 247,321 247,321 36(b) (172) (172) (86) (86) 247,321 247,321 * 368,965,000 4,768,000 7,142,000 132
33 5.5% 300,000,000 5.5 101% 34. (a) * 419 415 (210) 605 630 814 1,045 * 133
34. (b) 15,514 39 12,639 814 1,045 (419) (403) 1,909 2,316 (708) (83) 17,110 15,514 28 (501) (425) 16,609 15,089 (c) Towers Watson & Co. 3.25% 4% 134
34. (c) % % 0.25 (644) 0.25 600 12 1,050,000 1,037,000 35. 44,139 306,342 350,481 39 188,163 174,007 362,170 11 (2,989) 89,645 86,656 (1,783) (8,312) (10,095) 227,530 561,682 789,212 11 34,305 (2,625) 31,680 40 (39,408) (69,033) (108,441) (29,889) (29,889) 188,122 497,065 (2,625) 682,562 135
35. (a) 144,726,000166,420,000 130,596,000152,290,000 (b) 10% 10% 9,337,000 6,507,000 (c) 36. 10,000,000,000 0.10 1,000,000 1,000,000 6,766,587,849 6,750,587,849 0.10 676,659 675,059 136
36. 6,243,121,654 624,312 1,400,021 2,024,333 (a) 18,300,000 1,830 10,641 12,471 (b) 2,000,000 200 1,204 1,404 (c), (d) 487,166,195 48,717 283,007 331,724 6,750,587,849 675,059 1,694,873 2,369,932 (a) 16,000,000 1,600 10,229 11,829 6,766,587,849 676,659 1,705,102 2,381,761 (a) 5,000,000 6,000,000 5,000,000 8,300,000 6,000,000 4,000,000 0.4650.410.5740.4650.410.574 7,818,0008,489,000 1,600,000 1,830,0006,218,0006,659,0004,011,000 3,982,000 (b) 0.651,300,000 2,000,000200,000 1,404,000 1,204,000 (c) 433,199,610 284,876,000 (d) 53,966,585 46,848,000 137
36. 37 37. 1 30%12 1% (i) (ii) (iii) 138
37. 0.582 894,313 0.469 682,613 (a) 0.720 84,000 0.907 230,000 36(a) 0.489 (16,000) 0.464 (18,300) 0.596 962,313 0.582 894,313 (a) 0.23090.25810.2381 0.4381 0.72 0.74 0.92 0.72 0.75 0.94 10 10 10 50.125% 51.073% 39.393% 0% 0% 0% 1.414% 1.869% 2.256% 20,242,00066,848,000 139
37. (b) * ** 189,000 194,000 0.465 289,313 294,313 0.410 170,000 176,000 0.574 190,000 190,000 0.940 40,000 40,000 0.750 84,000 0.720 962,313 894,313 * ** (c) 962,313,000 894,313,000 962,313,000 894,313,000 96,231,00089,431,000476,932,000431,071,000 38. 2.4 140
39. (a)(i) (a)(ii) (a)(iii) 13 161 168,031 714,110 882,302 14 80,229 1,602,965 1,683,194 101,451 101,451 1,220 1,220 7,731 1,974 9,705 10,188 13,081 1,521 24,790 48,606 48,606 13,344 13,344 63,403 23,951 120,778 208,132 (70,911) (7,232) (78,143) (13,446) (402,064) (17,374) (432,884) (3,123) (3,123) (19) (77) (96) (237,004) (237,004) 31 (514,243) (514,243) 34(b) (12,639) (12,639) 35 (193,380) (168,790) (362,170) 140,535 558,416 633,491 1,332,442 (c) (56,214) (5,584) (158,373) (220,171) 84,321 552,832 475,118 1,112,271 16 18,738 44,031 62,769 (d) (58,876) (58,876) 103,059 493,956 519,149 1,116,164 141
39. (a)(i) (a)(ii) (a)(iii) 103,059 47,221 519,149 669,429 446,735 446,735 103,059 493,956 519,149 1,116,164 23,495 43,925 67,420 7,090 6,978 3,604 17,672 (103,059) (47,221) (519,149) (669,429) 63,403 37,295 120,778 221,476 47,221 153,691 200,912 (39,656) 37,295 (244,680) (247,041) (785) (957) (1,742) (39,656) 36,510 (245,637) (248,783) 142
39. (a) (i) 82,500,000 103,059,000 60% (ii) 19% 99% (iii) 75% 415,620,300 526,232,000 (b) (c) (d) 9,705,00024,790,000 (e) 163,263,0003,148,000 143
40. Rayport Rayport (a) (b) 13 13,802 13,802 14 345,760 345,760 15 236,320 236,320 16 149,881 149,881 3,591 3,591 170 170 24,329 47,900 72,229 3,801 3,801 23,400 23,400 31,502 23 31,525 35 (108,441) (108,441) (331) (331) (8,747) (7) (8,754) (9,001) (9,001) (7,257) (7,257) (360,672) (360,672) (62,768) (23,400) (86,168) 251,939 47,916 299,855 (18,320) (18,320) 233,619 47,916 281,535 2,693 (350) 2,343 236,312 47,566 283,878 144,630 57,611 202,241 27,058 27,058 408,000 105,177 513,177 408,000 408,000 105,177 105,177 408,000 105,177 513,177 144
40. (a) 408,000,000 (b) Rayport 18(ii) 41. 18(ii) 40Rayport 42. 22,793 42,000 145
43. (a) 14 178,428 211,528 272,050 379,216 131,923 152,198 582,401 742,942 (b) 1,192 495 2,458 1,192 2,953 146
44. 616,265 137,260 a 1,423,974 499,227 228,786 1,115,492 1,790,020 (a) (b) 26,106,00035,890,000 45. (a) (i) # 1,397 3,445 # 1,161 1,274 (ii) 10,927 18,751 # (iii) 1,814 # (iv) 1,285 474 (v) 8,560 3,874 (vi) 408,000 # A 147
45. (a) (i) (ii) (iii) (iv) (v) (vi) 408,000,000 (vii) 250,000,000 200,800,000 247,700,000 17 18 25 148
45. (b) (c) 12,279 9,413 13,660 16,330 780 553 26,719 26,296 9 46. 19 47. 149
47. 19 19 20 5,860 47,934 5,860 47,934 32,160 238,095 31,982 229,259 224,322 1,459,417 267,427 1,498,092 2,258,365 2,331,391 2,514,847 1,697,512 3,630,800 1,727,351 150
48. (a)(b)(c)(d) (a) 1,793,589,0002,175,383,000 100 17,957,000 13,350,000 100 (b) 151
48. (c) 90% 23 (d) 152
48. (d) 134,880 6,270 141,150 50,225 244,043 294,268 30,406 597 597 597 597 32,794 1,867,099 59,498 68,335 184,728 2,167,660 23,418 23,404 23,411 587,970 658,203 127,917 127,877 2,459,987 2,715,781 22,793 22,793 238,304 2,267,344 211,376 2,542,380 773,295 6,032,649 65,468 7,647 73,115 25,476 166,820 192,296 4,163 4,163 10,715 625 205,852 625 1,249 219,066 851,318 1,437,787 19,967 116,315 2,425,387 7,256 7,256 52,609 58,495 65,058 572,396 748,558 42,000 42,000 155,078 1,079,019 1,702,134 85,650 689,960 3,711,841 153
48. (d) 5,313,393 3,539,135 11,466,544 9,555,333 46% 37% 49. Vision Crystal Limited 80%40,000,000 6,785.8413,000 50. 154
51. 84 71 2,653,243 2,711,029 138,601 11,932 116,369 2,781,628 2,849,701 932,707 874,626 140,447 888 1,460,800 12,567 2,533,954 888,081 34 2,116 1,396,546 299 50,592 24,661 293,762 30,000 1,740,934 57,076 793,020 831,005 3,574,648 3,680,706 45,000 413,074 391,219 413,074 436,219 3,161,574 3,244,487 676,659 675,059 2,484,915 2,569,428 3,161,574 3,244,487 155
51. 37 32 1,400,021 423,880 115,318 258 146,781 33,467 2,119,725 (101,255) (101,255) (53,909) (53,909) (53,909) (101,255) (155,164) 36(a) 10,641 (3,982) 6,659 32, 36(b) 1,204 (172) 1,032 36(c), (d) 283,007 283,007 37(a) 66,848 66,848 32 (86) 86 32 247,321 247,321 1,694,873 423,880 178,184 247,321 92,872 (67,702) 2,569,428 (22,839) (22,839) (88,134) (88,134) (88,134) (22,839) (110,973) 36(a) 10,229 (4,011) 6,218 37(a) 20,242 20,242 1,705,102 423,880 194,415 247,321 4,738 (90,541) 2,484,915 52. 156
89 1 59 60 90 119 120 159 160 199 200 239 240 1 2 19 100% 70% 63 * 98.9% F 70% 60% 2012-3 100% 2014-1 100% * 621 157
296,572 202,983 35,848 11,007 1,540,538 322,701 298,209 776,031 (113,395) 510,259 (67,118) (107,199) (53,228) (632) (250,785) 255,583 191,010 722,803 (114,027) 259,474 5,674 (1,384) 255,583 191,010 722,803 (108,353) 258,090 258,454 166,876 700,962 (97,769) 114,594 (2,871) 24,134 21,841 (10,584) 143,496 255,583 191,010 722,803 (108,353) 258,090 11,466,544 9,555,333 5,448,227 3,092,269 4,212,155 (7,005,860) (5,243,365) (1,950,795) (1,950,857) (2,786,838) 4,460,684 4,311,968 3,497,432 1,141,412 1,425,317 4,220,420 4,161,837 3,430,199 1,156,867 1,226,589 240,264 150,131 67,233 (15,455) 198,728 4,460,684 4,311,968 3,497,432 1,141,412 1,425,317 158