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LUEN WONG GROUP HOLDINGS LIMITED (a) (b) (c) (d) (e) (f) (g) (h) (i) (j) (k)

LUEN WONG GROUP HOLDINGS LIMITED [ ] [ ] [ ][ ] [ ] [ ] [ ] [ ] 1% 0.0027% 0.005% [ ] [ ] [ ] [ ] 32342C [ ] [ ] [ ] [ ] [ ] [ ]

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[ ] ii

[][] []................................................................................................................................................... i ii iii..................................................... 1..................................................... 11..................................................... 18................................................ 21.................................................. 22 [ ]................................... 37 [ ]..................................... 41.................................................. 44.................................................. 46.................................................. 56................................................ 72...................................................... 79........................................... 167........................................... 176 iii

.................................................. 182...................................................... 184.................................................. 188................................... 238...................................................... 246 [ ]......................................... 251....................................... I-1......................................................................................... II-1 III-1 IV-1.................................... V-1........................ VI-1 iv

[] [] 16 (i) (ii)(iii) 93.3%93.9% 88.5% 49 3019 1,267,353,000 1

63.2%53.1% 38.7% 94.1%96.0% 97.9% 216 44 41 10 16 5 8 3 (%) 11.36 19.51 30 16 16 4 12 (i) (ii)(iii) 29.2%50.6% 18.2% 55.7%67.5% 54.4% 2

3 16 17.3%17.7% 18.4% 61.8%53.3% 55.3% 1 10 Ipsos 54.6% 700 141 1.8%2.54 3

% % 159,963 271,949 70.0 108,744 82,787 (23.9) 15,020 25,600 70.4 8,088 8,900 10.0 9,430 18,079 91.7 5,979 1,776 (70.3) 148,711,000 17 4

455,319,000 195,541,000 [ ] % % 46,250 70,112 51.6 75,853 8.2 82,446 82,525 0.1 73,739 (10.6) (36,196) (12,413) (65.7) 2,114 (117.0) (9,775) 8,304 (185.0) 10,080 21.4 74,949 93,085 24.2 86,403 (7.2) 36,196,000 12,413,000 32,336,00030,506,000 2,114,000 / (i) (ii) 5

7,402 (3,687) (2,775) 4,512 (4,478) 209 (240) 182 (894) 477 (1,273) (1,489) 2,030 (3,001) (4,288) 3,205 (%) 9.4 9.4 10.8 (%) 5.9 6.6 2.1 (%) 12.6 19.4 2.1 (%) 217.7 17.6 0.6 0.8 1.0 0.6 0.8 1.0 39.6 33.2 55.3 33.6 20.4 22.1 (%) 265.5 151.6 (%) 194.5 115.6 26.2 47.1 16.4 9.4% 10.8% (i) (ii) 6

[ ] [ ] [ ][ ] [ ] [] 1 [][][][] [][][][] [] [] [][] [][][] [] [] [][] [] [] 2 [][][][] [][][][] 1. [ ] [ ] 2. [ ] [ ] [ ][] ( [ ] [ ][] [ ] )[ ] [ ] 7

[ ] [ ] [ ] [ ] [][] [ ] [ ] [ ] [] [ ] [ ] [ ] [] [ ] [] [ ] [ ] [ ] [] [ ] [] [ ] [ ] [ ] [] [ ] [] [ ] [ ] [ ] [] [ ] [] [ ] [ ] [ ] [ ] 8

19 1,267,353,000 374,109,000 29.5% 9

425,056,000 159,963,000271,949,000 455,319,000 12,700,000 57 10

[] [] A.3. [ ] 11

622 32L 32 12

CT Partners CT Partners Consultants Limited E. 1. 13

[] 112 Ipsos Ipsos Limited Ipsos Ipsos [] [] [] [] 14

[] [][][] [] [] [] [][]1% 0.0027%0.005% [][] [] [][][] 32 571 0.01 15

D. [] [] 16 [] [][] 15 [] [] [][][][] 16

% 17

123 587 282 ISO ISO 9001 ISO 9001 18

ISO 14001 ISO 14001 OHSAS 18001 OHSAS 18001 19

20

21

[ ] 149,234,000255,484,00073,258,000 93.3%93.9% 88.5% (i) (ii)(iii) 22

94.1%96.0% 97.9% A 63.2%53.1% 2.9% (i) (ii)(iii) 23

159,963,000271,949,00082,787,000 24

15,020,000 25,600,0008,900,000 9.4%9.4% 10.8%9,430,000 18,079,000 1,776,000 5.9%6.6% 2.1% 5% 25

17,957,000 19,217,000 22,035,000 [] 26

36,196,00012,413,000 (i) 39,981,000 39,980,000 (ii) 2,114,000 34,422,00054,817,000 29,308,000 115 27

57 57 28

246,000262,000 313,000 205,000541,000356,000 29

30

57 12,708,000 2,577,000 0.94% 5.50% 5.44% 6.21% 31

[ ] [ ] [ ] [ ] [ ] [ ] [ ] 32

700 [ ] 33

34

Ipsos [][] [ ] [] [ ][ ] [ ] 35

36

[ ] [ ] 37

[ ] [ ] 38

[ ] [ ] 39

[ ] [ ] 40

[ ] 8 1 10 B 3 6 D 100 19 1 8 4 13 F 1 12 E 8 5 42 E 41

[ ] 8 7 56D [ ] [ ] 9 6 19 1903-4 1 6 56 29 1 2206 19 [ ][ ] [ ] 42

[ ] 28 12 CT Partners Consultants Limited 33 16 1601A 161-167 2102 9 6 19 1903-4 1 6 43

P.O. Box 1350 Clifton House 75 Fort Street Grand Cayman KY1-1108 Cayman Islands 16 3 15 1505 36 7 C 3 6 D 36 7 C 8 1 10 B 44

[ ] [ ] 1 www.luenwong.hk 45

Ipsos [][] [ ] Ipsos Ipsos 350,000 Ipsos Ipsos SA (NYSE Euronext Paris)Ipsos SA Ipsos 87 16,000 Ipsos(i)(ii) (iii) Ipsos Ipsos Ipsos Ipsos 18,46120,708 2.9% 46

24,401 60% 50.2%60% 1,748 3,306 17.3% 312688 21.9%303539 15.5% 739 763 3.3% 140 47

90325 37.8%430 1,499 36.6% 12.8%20.9% 22.2% 33.4% 676 43.6%28.5% 48

250.0 200.0 150.0 114.0 143.6 173.9 208.0 100.0 50.0 20.1 31.7 49.4 61.7 67.6 88.4 35.4%201 676 342 442 88,400,000 186,000,000 1,573,000,0002,000,000,000 884 2,080 23.9% 49

140.0 120.0 100.0 95.5 100.0 107.8 120.8 132.6 80.0 60.0 40.0 20.0 = 100 50

51 95.5 132.638.8%8.6% 40.0% 50 10.3% 17.1% 15.0% 12.9% 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 500 550 600 650 700 750 5,733.8 4,775.2-4.5% 6,595.0 90%

6,595.0 4,349.034.1% 612.7 720.4 4.1% 8.2% -1.1% 2002,187.6 2002,093.8 2002,257.0 2002,916.029.2% 200 2,875.02001,931.0 54.6% 700 52

700 141 1.8% 254,000,000 (SRS) 52 700 53

54

763 Build 50.1%86.9 4.1%612.7 720.4 30,00040,00015,00020,000 55

A. 59 500,000 500,000 6BA(5) 50,000 5 509 56

200,000 200,000 200,000 500,000 282 57

152 147 714 7 14 24 40 2 6 100,000 57 43C (a) (b) 58

60 90 14 5 50,000 43F43C (1) (2) 314 115 38A (i)(ii) (i)(ii) 350,000 59

608 32.5 583 3(1)5 1. 58(7)(a) 2. i. 7 ii. 7 2 58(7)(b) 60

485 60186560 25,0007,100 30,0007,100 5% 1,250 1,500 5% 25,000 30,000 (1) (2) (3) (4) (5) (6) (7) (8) 61

295 295 6 77 146 25,000 B. 311 62

311R 3 100 4 311Z 4 5 11 (i)200,000 (ii)50,000 63

400 (a)100,000(b) 200,000 20,000 358 (a) 200,000 (b)400,000 10,000 64

354 1,000,000 21 200,000 500,000 466 200,000 500,000 10,000 65

499 2 2 I (a)2,000,000(b) 5,000,000(c) 6 100,000(d) 1,000,000 10,000 132 10,0003 200 50,000 5 25,0004 450 10,0003 200 10,0003 200 66

C. 587 67

2 52 5294 (a) (b) (c) (d) 583 68

8 1. 2. 3. 4. 201 5. 6. 7. 8. i. 69

ii. 9. 6 10. 11. 10 A. B. C. D. D. 619 619 70

106 82(a) (b) 67 (a) (b)(c) (d) 71

10,00010,000 10,000 10,000 50% 50% 20,0005,000,000 1,890,0001,890,000 1.00 3,780,00050%50% 72

1,900,0001,900,000 2 10,000 10,000 10,000 10,000 50% 50% 10,000 10,000 2 Haul (Haul Road) 55 73

84,000,000 1.17 1.539 1.02 74

3.06 1.74 870 1.87 75

6.33 ISO 90012008 ISO 140012004 OHSAS 18001 2007 A.4. 50% 50% 76

50% 50% 1. 2. [ ] 100% 100% 100% 100% 77

1. 2. 3. [ ] 100% 100% 100% 1. 2. 3. 78

16 (i) (ii)(iii) 49 3019 1,267,353,000 % % % % 149,234 93.3 255,484 93.9 106,348 97.8 73,258 88.5 10,729 6.7 16,466 6.1 2,395 2.2 9,529 11.5 159,963 100.0 271,949 100.0 108,744 100.0 82,787 100.0 94.1%96.0% 97.9% 2 16 79

61.8%53.3% 55.3% 1 10 55.7% 67.5% 54.4%3 16 6,371,000 4,310,000 410,000 21,441,00031,874,000 11,276,000 Ipsos 80

16 30 19 25 81

4,310,000 410,000 6,371,000 16 2 16 1610 ISO 90012008ISO 14001 2004 OHSAS 180012007 82

21,441,00031,874,00011,276,000 [ ] [ ] (i) (ii)(iii) 83

(iv) 84

85

1 16 7 4 2 2 319,704 125,214 521,913 122,768 1. 2. 86

26 25 10 3 5 5 29 30 15 % % % % 149,234 93.3 255,484 93.9 106,348 97.8 73,258 88.5 10,729 6.7 16,465 6.1 2,396 2.2 9,529 11.5 159,963 100.0 271,949 100.0 108,744 100.0 82,787 100.0 30 87

1 2 3 (a) (b) 1. A 14,785 2,195 4 2. A 13,104 3,149 4 3. A 13,127 5,700 4 4. A 14,056 6,272 4 5. A 3,401 13,153 4 6. A 18,338 17,275 5 7. A 3,518 466 4 8. A 26,561 13,733 4 9. A 8,258 3,297 4 10. A 561 216 5 88

1 2 3 11. A 5,790 10,122 6 12. A 1,388 1,721 6 (c) 13. F 8,400 9,276 6 (d) 14. C 15,548 409 4 (e) (f) 15. C 27,500 1,114 4 16. B 11,011 15,165 6 17. B 12,924 680 4 18. B 10,430 759 4 19. B 13,647 2,788 4 20. B 14,622 1,193 4 89

(g) (h) 1 2 3 21. B 750 6345 22. B 1,400 1,8296 23. E 34,800 8,741 4 24. G 871 854 5 25. G 2,323 2,701 6 26. G 2,133 3,735 6 27. G 576 304 5 28. D 10,385 11,040 6 90

1 2 3 (i) 29. H 7,184 666 4 30. H 1,839 1,403 5 299,230 140,590 1. 2. 3. 4. 5. 6. 91

19 1 2 3 (a) 1. A 116,797 166,444 (b) 2. F 78,744 84,312 (c) 3. A 27,570 3,110 (d) 4. C 98,000 15,046 92

1 2 3 5. C 17,077 19,682 6. C 4,731 3,904 7. C 3,500 (e) 8. C 122,770 26,522 9. C 59,000 13,011 10. C 4,753 (f) 11. B 22,693 17,412 93

1 2 3 (g) 12. H 2,207 2,817 13. H 958 3,231 14. H 3,799 123 (h) 15. D 36,299 17,005 16. D 35,804 438 (i) 17. A 119,268 18. A 58,064 1,052 94

1 2 3 (j) 19. A 455,319 1,267,353 374,109 1. 2. 3. 95

2 2 721 13 331 24 43 12 96

20 (i)(ii)(iii) (iv) (v) (i)(ii) (iii)(iv) 44 41 10 16 5 8 3 (%) 11.36 19.51 30 97

16 16 4 12 6 11 (i)(ii) (iii) (iv) 98

99

100

(i) (ii) (iii) 101

45 10%5% 50% 50% 102

(i)(ii) (iii)( ( )) 45 50% 12 50% 33.620.4 22.139.633.255.3 103

(i) (ii) (iii) 63.2%53.1% 38.7%94.1%96.0% 97.9% 104

% 1. A 12 45 101,138 63.2 2. B 16 45 20,145 12.6 3. C 11 45 11,350 7.1 4. D 3 45 9,688 6.1 5. E D C 10 45 8,118 5.11 150,439 94.1 9,524 5.9 159,963 100.0 105

% 1 A 12 45 144,349 53.1 2 F A 2 45 61,682 22.7 3 C 11 45 36,300 13.3 4 D 2 45 11,013 4.0 5 B 16 45 7,988 2.9 261,332 96.0 10,617 4.0 271,949 100.0 106

% 1 C 11 45 32,038 38.7 2 F A 2 45 26,475 32.0 3 B 16 45 12,327 14.9 4 D 2 45 7,782 9.4 5 A 12 45 2,418 2.9 81,040 97.9 1,747 2.1 82,787 100.0 5% 107

A 106,569 66.6 206,031 75.8 28,893 34.9 C 22,520 14.1 41,465 15.2 32,038 38.7 D 18,847 11.8 17,088 6.3 9,529 11.5 94.1%96.0% 97.9% 63.2%53.1% 38.7% 50% 108

Ipsos 884 2,080 36.6% A A101,138,000144,349,000 2,418,000 63.2%53.1% 2.9%A 2.9% A 70,096,0009 109

A A A A (EPC) (BOT)(PPP) A A A 12 AA15 9 1,000A 1 119,268,000 A A A (i) A 45 A 5%5%(ii) A (iii)a (iv) A (v)12 A 110

16 A A A C C C C 11,350,00036,300,00032,038,000 7.1%13.3% 38.7% 111

10 90% 2 8,700 C 3 1.87 A6.33 [] [ ] 19 342,269,000473,282,000 19 14 A 152,750,000 112

(i) (ii)(iii) (iv) (v) (i)(ii) 113

( ) ( ) 10%5% 50% 17,957,00019,217,00022,035,000 114

9 284,175,000 10% 25% 9 (i) 4 (ii) 4(iii) 1 (i) 115

15,583,000 33,832,00025,965,000 1,447,000 3,514,000 1,122,000 39.633.255.3 30.5%38.3% 27.0% 90.2%97.2% 98.6% (i) (ii) 116

(i)(ii) (iii) 57 30 117

% % % % 34,422 32.3 54,817 30.2 16,507 20.9 29,308 52.7 50,393 47.2 94,606 52.1 49,779 63.1 14,937 26.9 21,441 20.1 31,874 17.5 12,369 15.7 11,276 20.3 431 0.4 398 0.2 185 0.3 87 0.1 106,687 100.0 181,695 100.0 78,840 100.0 55,608 100.0 29.2%50.6%18.2% 55.7%67.5% 54.4% 118

% 1 A A 12 45 21,092 29.2 2 B B 16 45 5,396 7.5 3 C 4 30 5,228 7.2 4 D 8 30 4,826 6.7 5 E 3 30 3,701 5.1 40,243 55.7 32,022 44.3 72,265 100.0 119

% 1 A A 12 45 64,160 50.6 2 F 3 C 7 30 4 30 5,917 4.7 5,647 4.5 4 G C 11 45 5,317 4.2 5 H 8 30 4,451 3.5 85,492 67.5 41,386 32.5 126,878 100.0 120

% 1 G C 1 11 45 4,785 18.2 2 B B 1 16 45 3,173 12.1 3 H 8 30 2,352 8.9 4 I 6 30 2,016 7.7 5 F 7 30 1,983 7.5 14,309 54.4 11,991 45.6 26,300 100.0 121

5% 27,492,00073,004,000 10,009,000 27,336,00071,973,00010,009,000 99.4%98.6% 100.0% 122

% % % A 101,138 63.2 144,349 53.1 2,418 2.9 A 21,217 29.4 64,160 50.6 413 1.6 4.9 4.9 4.9 C 11,350 7.1 36,300 13.3 32,038 38.7 C 679 0.9 5,362 4.2 5,796 22.0 9.7 9.7 9.7 B 20,145 12.6 7,988 2.9 12,327 14.9 B 5,396 7.5 2,298 1.8 3,173 12.1 1.3 1.3 1.3 123

% % % D 9,688 6.1 11,013 4.0 7,782 9.4 D 44 0.1 11.0 11.0 9.1 F 5,431 3.4 61,682 22.7 26,475 32.0 F 117 0.2 153 0.1 627 2.4 14.9 14.9 14.9 G 3,052 1.9 4,542 1.7 G 39 0.1 1,031 0.8 29.0 29.0 124

34,422,00054,817,00029,308,000 17.3%17.7% 18.4% 61.8%53.3% 55.3% 125

% 1 A 1 10 30 5,947 17.3 2 B 2 2 30 4,678 13.6 3 C 1 2 30 4,082 11.9 4 D 1 9 30 3,343 9.7 5 E 1 3 30 3,210 9.3 21,260 61.8 13,162 38.2 34,422 100.0 1. 2. B 126

% 1 C 2 30 9,727 17.7 2 A 10 30 6,518 11.9 3 D 9 30 4,918 9.0 4 F 8 30 4,102 7.5 5 G 10 30 3,931 7.2 29,196 53.3 25,621 46.7 54,817 100.0 127

% 1 C 1 2 30 5,381 18.4 2 H 1 2 30 2,910 9.9 3 I 2 1 30 2,762 9.4 4 E 1 3 30 2,617 8.9 5 J 1 4 30 2,552 8.7 16,222 55.3 13,086 44.7 29,308 100.0 1. 2. I 5% 128

(i) (ii) (iii)(iv)(v) (i) (ii) (iii)(iv) 129

4,310,000410,000 6,371,000 (i) (ii) (iii) (iv) (v) 130

(vi) (vii) (viii) 10.0 4.8 10.0 4.1 10.0 7.3 10.0 9.9 10.0 6.9 10.0 1.7 10.0 1.5 10.0 8.1 10.0 5.9 Hop Fung Crane Company 21,441,00031,874,000 11,276,000 131

Hop Fung Crane Company Hop Fung Crane Company Hop Fung Crane Company Hop Fung Crane Company Hop Fung Crane Company 772,000 453,000 Hop Fung Crane Company Hop Fung Crane Company 1 2 132

5 849 862 8 3,782 5,110 21 2,110 3,938 20 257 2,816 54 6,998 12,771 5.74.8 10 133

3.217.35 3.25 6.21 3.23 6.21 4,103,0003,223,000 2,590,000 94.1%92.3% 87.8% (a) (b) (c) 50 10 134

ISO 90012008 (i)(ii) (iii) (i)(ii) (iii) 135

OHSAS 18001:2007 136

OHSAS 18001 OHSAS 18001:2007 137

1,000 1,000 1 2 1,000 40.8 3.36 1,000 0.277 0 1,000 41.9 16.88 1,000 0.242 3.38 1,000 16.8 1,000 0 1. 15 2. 138

139

0 9.0 3.91 (1) 100 1,000,000 10 301 301 172 (2) (i) (ii) (i) (ii) 140

(i) (ii)(iii) (iv) OHSAS 18001:2007 (i) (ii)(iii)(iv) 141

ISO 14001:2004 2,472,000 3,033,000696,000 40 40(1B) 40(1B) 200,000,000 40(1B) 142

(i) (ii)(iii) 246,000262,000 313,000 143

185 7 8 15 6 20 129 185 144

5% 1,2501,500 1,397,000 2,261,000 682,000 54.6% 700 Ipsos 141 1.8%( 2.54 ) (i) (ii)(iii)(iii) Ipsos 145

19 1316 660 1,600,000 2,157,000 4,360,000 3 155 625 16,167 146

10,118 121 1387 1387 A 1388 1389 16,800 21,000 1913 17 15,00018,000 7,000 13,396,000 6,845,000 12,700,000 679,000 12,700,000 147

B.2. (i) (ii) 310 148

ISOOHSAS ISO 9001 2008 ISO 140012004 OHSAS 180012007 149

(TKOTL55) (i) (ii) (iii) (iv) 150

1. 2. 3. 4. 151

5. 6. (i)(ii) (i) (ii) 152

4 1 6 5 0 6 10 12 0 7 3 0 1 0 0 8 3 153

1. 110,000 2. 591,000 3. 564,000 4. 34 1,837,040 154

5. 878,200 6. 1,050,000 7. 250,000 (i)(ii) (iii)(iv) (v)(vi) 155

E.1. (i) 2 (ii) 6 156

92 658 10,000 300 50,000 1,000 157

158(4) 10,000 300 158

107 662 664 6 1(e) 50,000 700 50,000 1,000 159

122 351A 9 160

57 63C 23 350,000 3 64(B)(1) 63C 4 7 161

[ ] [ ] E.1. (i) (ii) (iii) (iv) (i)(ii) (iii) 162

(i)(ii) (iii) 5.01 5.02 11.06 CT Partners CT Partners 1. 2. 57 163

CT Partners CT Partners CT Partners CT Partners Certified General Accountants Association of British Columbia CT Partners 15 CT Partners 164

CT Partners 165

5.01 5.0211.06 166

57 58 55 31 30 45 30 167

26 63 39 57 30 58 19 168

Luen Hing Civil Eng Co. 55 25 Tobishima Corporation Tobishima Corporation Safety & Health Supervisor (Construction) 31 169

30 8019 University of New South Wales 45 170

Dalhousie University 306 New Time Trading Company 17.50(2) (i) (ii)(iii) C.1. XV(iv) (v)17.50(2)(vi) 26 63 25 171

Leighton-China State-John Holland Joint Venture Shui On-China Harbour Joint Venture Kumagai Gumi Co., Ltd (Hong Kong)K.E.C. Seneca College 39 14 HK Construction AMEC China Railway China Everbright McMaster University 32 2277 172

3,946,0003,934,0001,352,000 4,747,0004,783,000 1,654,000 4,300,000 173

174

6A.19 6A.23 (1) (2) (3) (4) 17.11 18.03 175

30% 11.04 (i) 22 23 9 284,175,000 (i)10% 25% (ii) 176

9 (i) 4 (ii) 1(iii) 4 2 3 1. B 11,011 2. C 17,077 3. C 122,770 4. C 59,000 5. B 22,693 25% 10% 25% 1. 2. 3. 177

(ii) Hop Fung Crane Company Hop Fung Crane Company Hop Fung Crane Company Hop Fung Crane Company Hop Fung Crane Company 772,000453,000Hop Fung Crane Company Hop Fung Crane Company 1913 17 15,00018,000 7,000 (iii) 178

(iv) (v) 11.04 11.04 179

6 (i) (ii) (i) 30% (ii) 180

(a) (b) (c) (d) (e) (a) (b) 181

[ ] XV2 3 10% [] [] [] [] 1 [] [] 2 [] [] 3 [] [] 4 [] [] 1. [ ] [ ] 2. [ ] [ ] 3. [ ] 4. [ ] 182

[ ] XV2 3 10% 183

2,000,000,000 20,000,000 [ ] [10,000] [100] [ ] [] [ ] [] [ ] [] 11.23(7) 25% [ ] [ ] [] [] [ ] 184

[ ] [] (a) [ ] 20% (b) (a) (b) (c) A. 3. 185

[] [ ] 10% A. 6. (a) (b) (c) A. 6. D. 186

187

(i) (ii)(iii) 159,963,000271,949,000 82,787,000 188

(i) (ii) 39 189

137,620,000 233,075,00070,187,00094.9%94.6% 95.0% 1% 10% 190

2 3 191

5% 10% 10% 20% 192

193

159,963 271,949 108,744 82,787 (144,943) (246,349) (100,656) (73,887) 15,020 25,600 8,088 8,900 425 346 160 324 (3,607) (3,772) (869) (6,012) 11,838 22,174 7,379 3,212 (452) (471) (181) (196) 11,386 21,703 7,198 3,016 (1,956) (3,624) (1,219) (1,240) 9,430 18,079 5,979 1,776 194

45 30 15 (a) 1. A 967 1,228 2,195 100 2. A 3,149 3,149 100 3. A 5,700 5,700 100 4. A 5,120 1,152 6,272 100 5. A 13,153 13,153 100 195

6. A 60,261 106,183 166,444 99.2 7. A 3,017 14,258 17,275 100 (b) 8. A 281 185 466 100 9. A 13,733 13,733 100 10. A 2,755 542 3,297 100 11. A 180 36 216 100 12. A 5,975 4,147 10,122 100 13. A 1,721 1,721 100 196

(c) 14. F 5,431 56,980 21,901 84,312 88.9 15. F 4,702 4,574 9,276 100 (d) 16. A 1,744 1,366 3,110 10.6 (e) 17. C 10,098 4,779 169 15,046 89.5 18. C 10,501 9,181 19,682 72.1 19. C 3,904 3,904 70.6 (f) 20. C 138 20,086 6,298 26,522 20.8 21. C 525 12,486 13,011 21.9 197

(g) 22. C 409 409 100 23. C 1,114 1,114 100 (h) 24. B 12,285 2,880 15,165 100 25. B 5,085 12,327 17,412 65.2 (i) 26. B 680 680 100 27. B 759 759 100 28. B 2,788 2,788 100 29. B 1,193 1,193 100 198

30. B 611 23 634 100 31. B 1,829 1,829 100 (j) 32. E 8,118 623 8,741 100 33. G 854 854 100 34. G 2,701 2,701 100 35. G 2,013 1,722 3,735 100 36. G 185 119 304 100 199

(k) 37. D 9,688 1,352 11,040 100 (l) 38. H 666 666 100 39. H 375 1,869 573 2,817 61.9 40. H 2,180 1,051 3,231 91.8 41. H 1,403 1,403 100 42. H 123 123 3.0 (m) 43. D 9,661 7,344 17,005 37.2 44. D 438 438 1.2 (n) 45. A 1,052 1,052 1.8 159,963 271,949 82,787 514,699 200

51,678 79,074 37,534 18,904 37,004 60,219 24,815 16,553 31,617 59,971 20,224 22,194 17,321 33,811 12,574 12,536 909 1,746 772 347 2,923 2,560 944 969 898 1,710 726 548 78 159 66 93 2,515 7,099 3,001 1,743 144,943 246,349 100,656 73,887 51,678,000 79,074,000 18,904,000 35.7%32.1% 25.6% 37,004,00060,219,000 16,533,00025.5% 24.4% 22.4% 201

31,617,00059,971,000 22,194,000 21.8%24.3% 30.0% 17,321,00033,811,00012,536,000 12.0%13.7% 17.0% +10% 5,168 7,907 1,890 +5% 2,584 3,954 945 +2% 1,034 1,581 378-2% (1,034) (1,581) (378) -5% (2,584) (3,954) (945) -10% (5,168) (7,907) (1,890) 202

+10% 3,700 6,022 1,655 +5% 1,850 3,011 828 +2% 740 1,204 331-2% (740) (1,204) (331) -5% (1,850) (3,011) (828) -10% (3,700) (6,022) (1,655) +10% 3,162 5,997 2,219 +5% 1,581 2,999 1,100 +2% 632 1,199 444-2% (632) (1,199) (444) -5% (1,581) (2,999) (1,100) -10% (3,162) (5,997) (2,219) 203

2,072 1,923 250 540 753 704 290 300 279 301 118 148 108 91 37 46 64 43 43 24 23 4 4 2 65 [] 303 682 129 397 3,607 3,772 869 6,012 17.2%16.7% 41.1% 204

16.5% 25,957,000 23.9% 108,744,000 82,787,000 148,711,00017 455,319,000 26,769,00026.6% 100,656,000 73,887,000 49.6% 33.3% 9.7% 8,088,000 812,00010.0%8,900,000 7.4% 10.8% (i) (ii) 205

164,000102.5% 160,000 324,000 182,000 5,143,000 869,000 6,012,000 [ ] 15,000 8.3% 181,000 196,000 16.9% 41.1% 16.5% 4,203,00070.3% 5,979,000 1,776,000 5.5%2.1% [ ] 206

111,986,00070.0% 159,963,000 271,949,000 195,541,000 101,406,00070.0% 144,943,000 246,349,00089.7% 62.7% 10,580,00070.4% 15,020,000 25,600,000 9.4% 79,00018.6% 425,000 346,000 120,000 165,0004.6% 3,607,000 3,772,000 149,0002,072,000 1,923,000 207

200,000 303,000379,000682,000 306,000 19,000 4.2% 452,000 471,000 17.2% 16.7%16.5% 8,649,00091.7% 9,430,000 18,079,000 5.9% 6.6% 208

[ ] 15,394 25,744 8,613 4,545 7,402 (3,687) (2,775) 4,512 (4,478) 209 (240) 182 (894) 477 (1,273) (1,489) 2,030 (3,001) (4,288) 3,205 1,389 3,419 3,419 418 3,419 418 (869) 3,623 209

4,545,000(i) 6,433,000 25,957,000 (ii)4,638,000 (i) 25,744,000 (i) 18,939,000 111,986,000(ii)4,224,000(iii) 3,915,000 15,394,000(i) 13,855,000(ii)8,749,000(iii) 7,149,000 182,000256,000 74,000 209,000719,000 510,000 210

4,478,0004,625,000 147,000 1,489,000(i)759,000(ii) 534,000(iii)141,000(iv) 55,000 477,0004,000,000 (i)1,974,000(ii) 1,078,000(iii)302,000(iv) 169,000 894,0003,000,000 (i)1,876,000(ii) 1,566,000(iii)238,000(iv) 214,000 211

523 7,555 9,474 11,736 12,978 35,276 54,215 49,577 48,711 3,419 5,900 3,632 5,253 46,250 70,112 64,945 66,942 10,908 10,908 46,250 70,112 75,853 77,850 23,941 19,717 21,360 23,746 39,891 39,980 33,547 30,157 6,604 2,689 4,547 6,648 1,474 1,199 1,103 1,415 10,536 18,940 12,708 12,687 474 474 82,446 82,525 73,739 75,127 (36,196) (12,413) 2,114 2,723 2,723,000 77,850,000(i)48,711,000(ii) 12,978,000(iii)10,908,000 (iv)5,253,00075,127,000 (i)30,157,000(ii) 23,746,000 (iii)12,687,000(iv) 6,648,000 (v)1,415,000(vi) 474,000 212

2,114,000 75,853,000(i)49,577,000(ii) 11,736,000(iii)10,908,000 (iv)3,632,00073,739,000 (i)33,547,000(ii) 21,360,000 (iii)12,708,000(iv) 4,547,000(v)1,103,000(vi)474,000 23,783,000 65.7%36,196,000 12,413,000 36,196,000 12,413,000 (i) 39,891,00039,980,000 (ii) 1,045 420 7,899 4,358 13,722 964 250 7,128 3,491 11,833 931 298 6,371 2,950 10,550 213

7,899,000 7,128,000 6,371,000 4,358,000 3,491,000 2,950,000 4,103,000 3,223,0002,590,000 (i) (ii) 214

7,555 9,474 11,736 (39,891) (39,980) (33,547) (32,336) (30,506) (21,811) 45 2,461,000 (i) (ii) (iii)12 215

(i)(ii)(iii) 15,583 33,832 25,965 17,957 19,217 22,035 1,736 1,166 1,577 35,276 54,215 49,577 45 15,583,000 33,832,000 33,832,000 25,965,000 216

8,506 17,309 15,827 29,331 51,517 47,034 030 7,511 14,383 14,849 3160 7,833 19,449 9,967 6190 154 1,148 90 85 1 15,583 33,832 25,965 15,583,000100%33,832,000 100% 25,272,000 97.3% 217

39.6 33.2 55.3 39.6 33.2 33.2 55.3 10% 5%50% 17,957,000 19,217,000 195,541,000 218

19,217,000 22,035,000 1,736,0001,166,0001,577,000 13,400,000 679,000 12,700,000 12,700,000 (i)(ii)(iii) 219

17,489 10,114 11,279 2,045 3,278 3,789 4,407 6,325 6,292 23,941 19,717 21,360 17,489,000 10,114,000 10,114,000 11,279,000 030 10,411 6,894 8,133 3160 5,556 2,646 2,638 6190 466 69 290 90 1,056 505 218 17,489 10,114 11,279 030 220

33.6 20.4 22.1 33.620.422.1 6,604,000 2,689,0004,547,000 162223 29 (i) (ii) 221

6,604 2,689 4,547 6,648 1,474 1,199 1,103 1,415 10,536 18,940 12,708 12,687 18,614 22,828 18,358 20,750 2,278 1,912 1,474 2,307 20,892 24,740 19,832 23,057 2,984 6,404 5,854 5,743 5,482 9 140 7,552 7,054 6,845 6,804 10,536 18,940 12,708 12,687 222

5 10,536 18,940 12,708 0.91% 5.50%0.92% 5.50% 0.94% 5.50% 4,000,0003,697,000 223

1,619 1,314 1,195 1,550 1,254 1,001 890 1,245 1,149 1,008 650 1,174 4,022 3,323 2,735 3,969 (270) (212) (158) (247) 3,752 3,111 2,577 3,722 1,474 1,199 1,103 1,415 1,177 937 843 1,169 1,101 975 631 1,138 3,752 3,111 2,577 3,722 224

6.05% 7.35%5.44% 6.21% 5.44% 6.21% 3,752,0003,111,000 2,577,000 2,108 225

160 98 14 29 35 30 189 133 44 23 50 (i) (ii) (iii) (iv) (v) 226

196 84 74 4,310 410 2,784 1,349 7,290 1,843 74 [] [ ][ ] 227

1 12.6% 19.4% 2.1% 2 217.7% 17.6% 3 0.6 0.8 1.0 4 0.6 0.8 1.0 5 265.5% 151.6% 6 194.5% 115.6% 7 26.2 47.1 16.4 1. 2. 3. 4. 5. 6. 7. 8. 228

195,541,000 12.6%19.4% 2.1% 148,711,00017 217.7% 17.6% 0.6 0.8 0.8 1.0 229

265.5%151.6% 194.5%115.6% 26.247.1 16.4 47.1 195,541,000 16.4 [ ] 148,711,00017 20,750,000 12,687,000 6,648,000 1,415,000 230

5,253,000 12,700,000 [] [ ] [ ] [ ] [ ] [ ] [ ][] [ ] 5,860,000 [ ] 12 (i) (ii) 12 231

232

[] [ ] [ ] [ ] [ ] 233

19 1,267,353,000 374,109,000 29.5% 425,056,000 159,963,000271,949,000 455,319,000 C 3,500 A 119,268 234

12,700,000 235

[] 1 3 4 [] [] [] [] [] [] [] [] [] [] [] [] 1. [ ] 2. 5,234,000 89,000 3. [] [ ] [ ] [ ][] [ ] 4. 12 [ ] [ ] 5. 4,360,000 236

4,360 931 13 918 3,442 17 17.15 17.21 237

[] 1,100,000 238

[] 200,000 [] 1,000,000 239

[] 200,000 240

[] 100,000 241

[] 100,000 242

[ ] [ ] [ ] [ ][] [ ][] [ ] [ ] [ ] [ ] [ ] [ ] [ ]% 243

[ ] [ ]% [ ] [ ]% (i)[] 1%5 (ii) [ ] 3% 5 (iii) [ ] 5 2.50% [][]% [] [ ] [] [] [] [ ] [] [ ] [] [] [] [ ] [] [ ] [ ] [] [] [ ] [] [ ] [ ] [] [] [ ] [ ] 244

[ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [] 245

[ ] [ ] [ ] [ ] 246

[ ] 247

[ ] [ ] 248

[ ] [ ] 249

[ ] 250

[ ] [ ] 251

[ ] [ ] 252

3.340 II1.3[ ] [ ] [ ] [ ] [ ] [ ] I-1

II 1.2 II 1.2 3.340 I-2

2410 II1.3 I-3

I. 4 159,963 271,949 108,744 82,787 (144,943) (246,349) (100,656) (73,887) 15,020 25,600 8,088 8,900 6 425 346 160 324 (3,607) (3,772) (869) (6,012) 11,838 22,174 7,379 3,212 7 (452) (471) (181) (196) 8 11,386 21,703 7,198 3,016 9 (1,956) (3,624) (1,219) (1,240) 9,430 18,079 5,979 1,776 13 I-4

14 11,697 11,140 15 13,722 11,833 10,550 24 3,280 28,699 22,973 10,550 16(a) 523 17 7,555 9,474 11,736 18 35,276 54,215 49,577 19 3,419 5,900 3,632 46,250 70,112 64,945 20 10,908 46,250 70,112 75,853 21 23,941 19,717 21,360 17 39,891 39,980 33,547 16(b) 6,604 2,689 4,547 22 1,474 1,199 1,103 23 10,536 18,940 12,708 474 82,446 82,525 73,739 (36,196) (12,413) 2,114 (7,497) 10,560 12,664 I-5

22 2,278 1,912 1,474 24 344 1,110 2,278 2,256 2,584 (9,775) 8,304 10,080 25 (9,775) 8,304 10,080 (9,775) 8,304 10,080 I-6

25 3,820 (23,025) (19,205) 9,430 9,430 3,820 (13,595) (9,775) 18,079 18,079 3,820 4,484 8,304 1,776 1,776 3,820 6,260 10,080 3,820 (13,595) (9,775) 5,979 5,979 3,820 (7,616) (3,796) I-7

11,386 21,703 7,198 3,016 3,676 3,264 1,234 1,269 (120) 306 64 452 471 181 196 15,394 25,744 8,613 4,545 3,695 (18,939) (10,818) 4,638 (7,149) (1,919) (4,184) (2,262) 23 (523) 523 8,749 (4,224) (303) 1,643 (13,855) 89 3,454 (6,433) 545 (3,915) 463 1,858 7,402 (3,687) (2,775) 4,512 I-8

147 719 256 (4,625) (510) (240) (74) (4,478) 209 (240) 182 3,000 4,000 (238) (302) (112) (141) (214) (169) (69) (55) (1,876) (1,078) (446) (759) (1,566) (1,974) (646) (534) (894) 477 (1,273) (1,489) 2,030 (3,001) (4,288) 3,205 1,389 3,419 3,419 418 19 3,419 418 (869) 3,623 I-9

II 1. 1.1 1.2 [ ] 1 100% (a) 3,800,000 100% (b) 20,000 100% (b) (a) (b) I-10

1.3 [ ] [ ] 5 2. 2.1 3 1 1 1 9 2 15 2 I-11

1 2 2.2 (i) (ii) 39 2.3 I-12

2.4 25 2.5 5% 10% 10% 20% 2.6 I-13

I-14

2.7 2.15 2.8 2.9 I-15

2.10 2.12 2.11 I-16

2.12 2.13 I-17

2.14 2.15 2.16 I-18

2.17 2.18 (a) (b) I-19

(a) (b) (i) 2.19 (ii), 13 2.20 2.21 (a) (i) (ii) (iii) I-20

(b) (i) (ii) (iii) (iv) (v) (vi) (a) (vii) (a)(i) 3. 3.1 2.7 2.15 I-21

3.2 1415 2.6 4. 159,963 271,949 108,744 82,787 5. (a) I-22

(b) 6. 10% 1 101,138 144,349 79,726 2 20,145 12,327 3 61,682 14,535 26,475 4 36,300 32,038 10% 120 276 298 123 105 29 48 37 219 425 346 160 324 7. 214 169 69 55 238 302 112 141 452 471 181 196 I-23

8. 24 24 1,494 1,628 664 636 1,625 1,079 338 401 557 557 232 232 (120) 306 64 17,321 33,811 12,574 12,536 208 227 87 118 31,617 59,971 20,224 22,194 (229) (248) (102) (85) 9. 16.5% 474 24 1,956 3,624 1,219 766 1,956 3,624 1,219 1,240 I-24

11,386 21,703 7,198 3,016 16.5% 1,878 3,580 1,187 497 58 76 25 770 20 33 (26) (26) (32) (1) 1,956 3,624 1,219 1,240 10. 37,679 59,880 24,145 16,411 1,397 2,262 920 682 39,076 62,142 25,065 17,093 I-25

11. (a) 832 600 15 1,447 832 600 15 1,447 358 44 15 417 557 63 15 635 2,579 1,307 60 3,946 900 500 18 1,418 900 500 18 1,418 362 45 18 425 591 64 18 673 2,753 1,109 72 3,934 450 8 458 450 8 458 160 8 168 260 8 268 1,320 32 1,352 350 7 357 350 7 357 150 7 157 245 7 252 1,095 28 1,123 I-26

[ ] (b) 1,036 1,073 428 455 152 166 30 35 14 15 1,218 1,274 442 470 1,000,000 2 2 2 2 12. 13. II 1.3 I-27

14. 13,925 20 (13,925) 1,671 557 2,228 557 2,785 232 20 (3,017) 12,254 11,697 11,140 23 11,000,00012,450,00013,000,000 I-28

13 10,293 12,019 12,537 14,057 12,537 14,057 15. 1,608 774 8,827 11,023 22,232 (482) (440) (4,062) (7,670) (12,654) 1,126 334 4,765 3,353 9,578 1,126 334 4,765 3,353 9,578 196 4,310 2,784 7,290 (18) (9) (27) (81) (92) (1,167) (1,779) (3,119) 1,045 420 7,899 4,358 13,722 1,608 943 12,903 13,614 29,068 (563) (523) (5,004) (9,256) (15,346) 1,045 420 7,899 4,358 13,722 I-29

1,045 420 7,899 4,358 13,722 84 410 1,349 1,843 (188) (837) (1,025) (81) (66) (1,181) (1,379) (2,707) 964 250 7,128 3,491 11,833 1,608 678 13,078 12,088 27,452 (644) (428) (5,950) (8,597) (15,619) 964 250 7,128 3,491 11,833 964 250 7,128 3,491 11,833 74 74 (308) (12) (320) (33) (26) (449) (529) (1,037) 931 298 6,371 2,950 10,550 1,608 742 11,959 11,965 26,274 (677) (444) (5,588) (9,015) (15,724) 931 298 6,371 2,950 10,550 23 4,103,000 3,223,000 2,590,000 22 I-30

16. (a) 173 23 523 523 733 523 (b) 6,027 2,689 3,780 577 767 6,604 2,689 4,547 I-31

17. 649,003 822,298 326,492 (681,339) (852,804) (348,303) (32,336) (30,506) (21,811) 7,555 9,474 11,736 (39,891) (39,980) (33,547) (32,336) (30,506) (21,811) 18. 15,583 33,832 25,965 17,957 19,217 22,035 1,736 1,166 1,577 35,276 54,215 49,577 0 30 7,511 14,383 14,849 31 60 7,833 19,449 9,967 61 90 154 1,148 90 85 1 15,583 33,832 25,965 45 I-32

14,136 30,318 24,843 30 1,208 3,514 1,121 31 60 154 1 61 90 33 90 52 15,583 33,832 25,965 17,957,000 19,217,000 22,035,00011,056,00011,757,000 15,726,000 19. 3,419 5,900 3,632 23 (5,482) (9) 3,419 418 3,623 20. 12,700,000 10,908,000 14 I-33

21. 17,489 10,114 11,279 2,045 3,278 3,789 4,407 6,325 6,292 23,941 19,717 21,360 0 30 10,411 6,894 8,133 31 60 5,556 2,646 2,638 61 90 466 69 290 90 1,056 505 218 17,489 10,114 11,279 0 30 2,045,000 3,278,0003,789,000425,0001,719,0002,219,000 I-34

22. 1,619 1,314 1,195 1,254 1,001 890 1,149 1,008 650 4,022 3,323 2,735 (270) (212) (158) 3,752 3,111 2,577 1,474 1,199 1,103 1,177 937 843 1,101 975 631 3,752 3,111 2,577 23. 10,536 18,940 12,708 i 2,984 6,404 5,854 i 5,482 9 ii 7,552 7,054 6,845 10,536 18,940 12,708 I-35

(i) 3.21%3.25% 4.00% 3.23% 4.00% 5.5%5.5% 5.5% 4,000,0003,697,000 (ii) 0.91%0.92% 0.94% 24. 16.5% 5,236 3,280 (344) (1,956) (3,624) (766) 3,280 (344) (1,110) I-36

(818) 6,054 5,236 9 (413) (1,543) (1,956) (1,231) 4,511 3,280 9 144 (3,768) (3,624) (1,087) 743 (344) 9 (23) (743) (766) (1,110) (1,110) 3,280 (344) (1,110) 3,280 (344) (1,110) 283,00090,00083,000 25. 26. 2,665,0001,333,000 I-37

27. 160 98 14 29 35 30 189 133 44 23 50 28. 2,108 I-38

29. (a) 16 23 Hop Fung Crane Company i 772 175 453 ii (i) Hop Fung Crane Company (ii) (iii) (b) 4,938 4,971 1,494 1,766 90 105 42 45 5,028 5,076 1,536 1,811 30. I-39

31. (a) 33,777 53,195 48,403 523 3,419 5,900 3,632 37,196 59,618 52,035 23,941 19,717 21,360 6,604 2,689 4,547 10,536 18,940 12,708 3,752 3,111 2,577 44,833 44,457 41,192 (b) (i) 50 44,00079,00053,000 50 I-40

(ii) 25%33% 33% (iii) 23,941 23,941 23,941 6,604 6,604 6,604 10,536 10,536 10,536 1,619 1,254 1,149 4,022 3,752 42,700 1,254 1,149 45,103 44,833 I-41

19,717 19,717 19,717 2,689 2,689 2,689 18,940 18,940 18,940 1,314 1,001 1,008 3,323 3,111 42,660 1,001 1,008 44,669 44,457 21,360 21,360 21,360 4,547 4,547 4,547 12,708 12,708 12,708 1,195 890 650 2,735 2,577 39,810 890 650 41,350 41,192 10,074 12,375 11,493 6,342,000 I-42

(c) 32. 10,536 18,940 12,708 3,752 3,111 2,577 14,288 22,051 15,285 (3,419) (5,900) (3,632) 10,869 16,151 11,653 (9,775) 8,304 10,080 194% 116% I-43

III (a) (b) IV 380,000 38,000,0000.01 1 V 28 12 P04834 [ ] I-44

A. 7 31 [ ] [ ] [ ] [] 1 3 4 [][] [ ] [ ] [] [] [][] [ ] [] [] [] II-1

(1) [ ] (2) 5,234,000 89,000 (3) [ ] [ ] [ ] [ ] [ ][] (4) 3 [ ] [ ] (5) II-2

B. [ ] II-3

[ ] II-4

[ ] II-5

161-167 2102 www.ascent-partners.com (852) 3679 3890 (852) 3579 0884 [ ] [ ] [ ] III-1

III-2

III-3

3 15 5 MFin BSc(Hons) Land Adm. MHKIS MCIREA RPS(GP) [ ] 10 III-4

1 19 13 16 4,360,000 100% 4,360,000 4,360,000 4,360,000 2 1 1 5 5 C 12,700,000 100% 12,700,000 12,700,000 12,700,000 17,060,000 17,060,000 III-5

1 1913 16 389 3100 9 18 414 13 660 4,360,000 100% 4,360,000 12370 389 3% (1) Luen Hing Construction & Eng. Limited 07062801080207 (2) (i) (ii) NT 84/94 ST772958 ST783403 (iii) 13041901280310 (3) S/ST/31 (4) III-6

2 1 1 5 5 C 529 362719 89 2 43 1 4 131423 243444 5 1,040 50 12,700,000 100% 12,700,000 20227 50 529 3% (1) 11031702800094 (2) (i) (ii) PR 2/2010 (OP) 10022302860077 11012701540020 (iii) 11031702800107 (3) 12,700,000 (4) S/ST/31 (5) III-7

1. (a) (b) 2. [ ] (a) (i) (ii) IV-1

4 (b) (i) IV-2

(ii) (iii) (iv) IV-3

(v) (aa) IV-4

(bb) (cc) (dd) (i) (ii) (ee) (vi) IV-5

(vii) IV-6

7 7 (aa) IV-7

(bb) (cc) (6) (dd) (ee) (ff) (gg) (hh) (viii) IV-8

(ix) 30 (x) (c) (d) IV-9

(e) (a) (b) (c) (d) (e) (f) (g) (h) (f) 15 14 IV-10

(g) (i) (ii) (iii) IV-11

(h) 15 (i) 21 21 IV-12

21 (j) 21 14 IV-13

(i) (ii) 95% (aa) (bb) (cc) (dd) (ee) (ff) 20% (gg) (k) IV-14

30 IV-15

(l) (m) (n) (i) (ii) (aa) IV-16

(bb) 20% IV-17

(o) (p) 20% IV-18

20% 14 14 20% (q) IV-19

(r) (s) 3(f) (t) (i) (ii) IV-20

(u) (i) 12 (ii) 12 3 3 (iii) (iii) (v) IV-21

3. (a) (b) (i) (ii) (iii) 37 (iv) (v) IV-22

(c) (d) IV-23

37A(1) (a) (b) (c) 37A(1) (e) 34 37A(7) 34 2(n37A(7)(c) (f) Foss v. Harbottle (i) IV-24

(ii) (iii) (g) (h) 59 (i) (ii) (iii) 59 IV-25

(i) (j) 6 (i) (ii) (aa) (bb) 6(3) (k) (l) IV-26

(m) (n) (o) (i)(ii)(iii) IV-27

(i) (ii) (p) 75% IV-28

(q) 90% (r) 4. Appleby IV-29

A. 1. 16[ ] [ ] [ ] 3 15 1505 2. (a) 380,00038,000,000 0.01 1 (b) [ ] [ ][ ](i)1 (ii)[ ] (c) [ ] [ ] [ ]1,962,000,000 380,00020,000,000 (d) [] [] [ ] V-1

(e) A.3. [ ] [ ] [ ] (f) 3. [ ] [ ] [ ] [ ] [ ] [ ] (a) (b) 30 (i) [][] [ ] (ii) D. (iii) [] [] [] V-2

[ ] [ ] [ ] (c) [ ] []20% (i) (ii) (iii) (d) [ ] 10% (i) V-3

(ii) (iii) (e) (c) (d) [] 10% 4. (a) 50,000 1.00 [ ]% [ ]% (b) 50,000 1.00 (c) 380,000 38,000,0000.011 V-4

(d) 1,900,000 1,900,000 2 3,800,000 (e) 10,00010,000 2 20,000 (f) B.1.(l) [ ][ ][ ]5 (i) 1 (ii)[ ] (f) 5. A.4. V-5

6. (a) (i) [ ][ ][ ] [ ] 10% (ii) V-6

(iii) (b) [][] [] (c) (d) (e) V-7

26 26 25% V-8

B. 1. (a) 1 1 5 5 C 12,700,000 (b) 1,900,0001,900,000 2 (c) (b)1,900,000 (d) (b)1,900,000 (e) (b)1,900,000 (f) (b)1,900,000 (g) 10,000 10,000 2 V-9

(h) (g)10,000 (i) (g)10,000 (j) (g)10,000 (k) (g)10,000 (l) [ ] [ ] [ ] 5 (i) 1 (ii)[ ] (m) (l)5 [ ] [ ] [ ] (n) (o) (p) 2. (a) V-10

303571065 7, 37 303571056 7, 37 (b) luenwong.hk C. 1. (a) XV XV78 V-11

352 5.465.67 (i) [] [] 1 [] [] 2 [] [] 1. [ ] 2. [ ] (ii) [ ] [] [] [] V-12

(b) [ ] XV23 10% [] [] 1 [] [] 2 [] [] 1. [ ] 2. [ ] 2. 3. (a) V-13

3,946,0003,934,0001,352,000 (b) 4,300,000 (c) 1,080,000 1,080,000 624,000 384,000 120,000 120,000 120,000 (d) 4. E.3. E.7. 5. 29 V-14

6. (a) A. [] XV23 10% (b) XV XV78 352 5.465.67 (c) E.6. (d) E.6. V-15

(e) E.6. (f) 5% (g) (h) D. [ ] [ ] [ ] 23 (a) [ ][ ][ ] V-16

(b) [ ] [ ] [ ] (i) (ii) (iii) (iii) (i) (ii) V-17

(iii) (iv) 1 (v) (aa) (bb) (cc) 10% [ ] [ ] (bb) 10% 10%10% (cc) 10% 10% V-18

(dd) 30% 30% (vi) 12 1% (vii) (aa) (bb) 12 (i) 0.1% V-19

(ii) 5,000,000 (viii) (aa) (i) (ii) (bb) (aa) (i) 60 (ii) 30 V-20

(ix) (x) (xi) (xii) (xiii) 3 (xiv 12 12 (xvii)(xviii) (xix) V-21

(xiv) (xv) (xiv) 3 (xvi) (xvii) V-22

(xviii) 2 (xix) V-23

(xx) (aa) (ix) (bb)(xii) (cc) (xiii)(xiv)(xv)(xvii)(xviii) (xix) (dd) (xviii) (ee) (ff) (gg) (xix) (xxi) V-24

(xxii) (xxiii) (aa) 23.03 (bb) (cc) (xxiv) (xxv) V-25

(c) [ ] E. 1. B. 1.(i) (a) []111 3543 (b)(i) [ ] (ii) [ ] (c) (i) [ ] (ii)[ ] (a) (b) [] V-26

(c) [] 2. 3. [] (a) [] (b) [ ] [ ][ ] (c) (d) 6A.19 4,800,000 [ ] V-27

4. 42,000 5. 6. Chan Chung 1 6 7. 6. 8. 44A 44B V-28

9. [] [] 10. 11. (a) (b) (c) [] V-29

13. (a) (i) (aa) (bb) (cc) (ii) (iii) (iv) 12 (v) 6. (aa) (bb) (vi) V-30

(vii) (viii) (ix) 14. [ ] 32L 4 V-31

E. 7.B.1. 14 5629 (a) (b) (c) (d) (e) (f) CT Partners Consultants Limited (g) B.1. (h) E. 7. (i) C.2. VI-1

(j) (k) (l) VI-2