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LUEN WONG GROUP HOLDINGS LIMITED (a) (b) (c) (d) (e) (f) (g) (h) (i) (j) 1933 (k)

LUEN WONG GROUP HOLDINGS LIMITED [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ][ ] 1% 0.0027% 0.005% [ ]0.01 [ ] [ ] [ ] [ ] 32342C [][] [ ] [ ][ ][ ] [ ][ ] [ ] [ ] [ ][ ] [ ]

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.................................................. 202...................................................... 204.................................................. 208................................... 260...................................................... 267 [ ]......................................... 276....................................... I-1......................................................................................... II-1 III-1 IV-1.................................... V-1........................ VI-1 iv

[] [] [] 16 (i) (ii)(iii) 2.2 93.3%93.9% 87.8% 51 3120 1,384,140,000 (i) 234,304,000 6,241,000 (ii) 191,737,000 3,547,000824,469,000 109,706,00033,713,000 1

63.2%53.1% 36.7% 94.1%96.0% 97.5% 216 44 41 33 18 5 8 5 (%) 11.36 19.51 15.15 33 33 25 3 18 18 8 10 (i) (ii)(iii) 29.2%50.6% 19.1% 55.7%67.5% 54.0% 1 16 2

17.3%17.7% 15.0% 61.8%53.3% 55.7% 2 10 Ipsos 54.6% 700 141 1.8%2.54 3

% % 159,963 271,949 70.0 186,325 154,641 (17.0) 15,020 25,600 70.4 15,421 17,286 12.1 9,430 18,079 91.7 11,647 6,392 (45.1) 137,700,000 16 455,319,000 195,541,000 [ ] [ ] % % 46,250 70,112 51.6 79,890 13.9 82,446 82,525 0.1 74,650 (9.5) (36,196) (12,413) (65.7) 5,240 (142.2) (9,775) 8,304 (185.0) 14,696 77.0 74,949 93,085 24.2 93,164 0.1 36,196,000 12,413,000 (i) 39,891,00039,980,000 (ii) 5,240,000(i) 4

(ii) 9,775,000 15,394 25,744 16,194 9,497 7,402 (3,687) (1,169) 5,228 (4,478) 209 (383) 11,495 (894) 477 (1,998) (9,332) 2,030 (3,001) (3,550) 7,391 (%) 9.4 9.4 11.2 (%) 5.9 6.6 4.1 (%) 12.6 19.4 6.9 (%) 217.7 43.5 0.6 0.8 1.1 0.6 0.8 1.1 39.6 33.2 50.2 33.6 20.4 24.5 (%) 265.5 65.6 (%) 194.5 11.3 26.2 47.1 27.8 5

9.4% 11.2% (i) (ii) [ ] [ ] [ ] [ ][ ] [ ] []1 [][] [] 2 [] [] [] [][][][][ ] [] [][][][] 1. [ ] [ ] [ ][ ][ ] 2. [ ] [ ] [ ] [ ] 6

[ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ][] [ ] [ ] [ ] [ ] [ ] [ ] [][] (i)[] 1% 3.99% (ii) [ ] 3% 3.23%5 (iii) [ ] 5 2.50% 6.05%(iv) [ ] 4 2.25%5.5% (v) [ ] 3 2.25% 5.58% [ ] [ ] [ ] 7

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

20 1,384,140,000 234,304,0006,241,000 16.9% 285,367,000 159,963,000 271,949,000 [ ] 301,317,000 20,000,000(i) 10,000,000 (ii)10,000,000 1,060,000 (i) [] [ ] [ ] 9

[ ] [ ] 57 311Z B. 311Z 1/2015 200,000,000 B. 311Z 200,000,000 10

[] [] [] A.3. [] 11

622 32L 32 12

CT Partners CT Partners Consultants Limited E.1. 13

[] []1 46 9 [][][] [] 112 Ipsos Ipsos Limited 14

Ipsos Ipsos [][] [][] [] [][] [] [] [] [][][][ ] [] [][][][] [ ][] 15

[] [][]1% 0.0027%0.005% [][][] [] [][][] [][][ ][][] 32 [] [][][][][][ ] [] [][][ ] 571 0.01 D. 16

16 [] 15 [] []1 [][][] [] [][][] [] [] [][][][] [][] 17

% 18

123 587 282 ISO ISO 9001 ISO 9001 19

ISO 14001 ISO 14001 OHSAS 18001 OHSAS 18001 20

[ ] (i) (ii) (iii) (iv) [ ] (v) 149,234,000255,484,000 135,834,000 93.3%93.9% 87.8% (i) (ii)(iii) 24

94.1%96.0% 97.5% 63.2%53.1% 36.7% (i) (ii)(iii) 25

159,963,000271,949,000154,641,000 15,020,00025,600,00017,286,000 9.4%9.4% 11.2%9,430,000 18,079,0006,392,0005.9%6.6%4.1% 27

5% 17,957,000 19,217,000 23,815,000 [] 28

1/2015 200,000,000 B. 311Z 35314 3120 4 4 12 7,402,000 3,687,0001,169,000 5,228,000 29

36,196,00012,413,000 (i) 39,981,000 39,980,000 (ii) 5,240,000 9,775,000 34,422,00054,817,000 50,913,000 30

115 57 57 31

246,000262,000 409,000 32

205,000541,000558,000 566,797,000 4,310,000410,000 812,000 [ ] [ ] [] 17,324,000643,000 1,814,0001,958,000 33

57 5,688,0003,948,0003.23% 5.50% 5.44% 6.21% 35

[ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] 20,000,000 (i) 10,000,000 (ii)10,000,000 [ ] 36

700 37

[ ] [ ] [ ] [ ] [ ] [ ] [ ] 38

[ ] [ ] 39

Ipsos [ ][ ][ ][ ] [ ] [ ] [ ] [ ][ ][ ] [ ] [ ] 40

[ ] [ ] 41

[ ] [ ] 42

[ ] [ ] 43

[ ] [ ] 44

[ ] 8 1 10 B 3 6 D 100 19 1 8 4 13 E 1 12 F 8 5 42 E 45

[ ] 8 7 56D 9 6 19 1903-4 1 6 [ ][ ] [ ] [] [ ] 46

[ ] 56 29 1 2206 19 [ ] [ ] 28 12 CT Partners Consultants Limited 33 16 1601A 161-167 2102 9 6 19 1903-4 1 6 47

[ ] [ ] NovaSage Chamders P.O. Box 4389 Road Town Tortola British Virgin Islands 48

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 49

[ ] [ ] 1 www.luenwong.hk 50

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 51

18,46120,708 2.9% 24,40160% 50.2%60% 1,748 3,306 17.3% 312688 21.9%303539 15.5% 793 858 8.2% 130 52

90325 37.8%430 1,499 36.6% 12.8%20.9% 22.2% 33.4% 53

200.0 186.5 150.0 100.0 50.0 0.0 20.1 2.6 17.6 31.7 4.1 27.5 49.4 8.1 61.7 67.6 10.8 14.1 41.3 50.8 53.5 86.6 19.3 67.3 109.3 26.6 82.7 134.3 35.9 98.4 158.4 45.5 112.9 57.4 129.1 Ipsos 676 43.6%35.4% 201 676 866 1,865 21.1% 26 14152.6% 12.9%8.0%20.9% 22.3% 30.8% 54

180 150 120 95.5 100.0 107.8 120.8 132.6 145.6 90 60 30 0 = 100 95.5 145.652.5%8.8% 40.0% 50 10.3% 17.1% 15.0% 12.9% 56

7,000 750 6,000 5,000 4,000 700 650 3,000 2,000 1,000 600 550 0 500 5,733.8 3,767.4-8.1% 6,595.0 90% 6,595.0 3,333.049.5% 612.7 739.33.8% 8.2% 57

-0.9% 2002,187.6 200 1,882.7 2002,257.0 2002,916.0 29.2% 200 2,875.02001,931.0 54.6% 700 700 141 1.8% 254,000,000 58

(SRS) 52 700 59

858 Build 60

57.5%91.2 3.8%612.7 739.3 30,00040,00015,00020,000 61

A. 59 500,000 500,000 6BA(5) 50,000 5 509 62

200,000 200,000 200,000 500,000 282 63

15 2 14 7 7 14 714 24 40 2 6 100,000 57 43C (a) (b) 64

60 90 14 5 50,000 43F43C (1) (2) 314 115 38A (i)(ii) 65

(i)(ii) 350,000 608 32.5 583 3(1)5 1. 58(7)(a) 2. i. 7 ii. 7 2 58(7)(b) 66

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) 67

295 295 6 77 146 25,000 B. 311 68

311R 3 100 4 311Z 4 5 11 69

(i)200,000 (ii)50,000 1/2015 200,000,000 200,000,000 50%20% 0% 35314 1 3 4 1,094 2 1 4 3 12 2,272 3 7 241 2 316 2 2,185 4 31 6,111 70

1. 355,000 739,000 2. 3,000 260,000 3. 3120 12 200,000,000 400 (a)100,000(b) 200,000 20,000 71

358 (a) 200,000 (b)400,000 10,000 354 1,000,000 21 72

200,000 500,000 466 200,000 500,000 10,000 499 2 2 I (a)2,000,000(b) 5,000,000(c) 6100,000(d) 73

1,000,000 10,000 132 10,0003 200 50,000 5 25,0004 450 10,0003 200 10,0003 200 C. 74

587 2 52 5294 75

(a) (b) (c) (d) 583 8 76

1. 2. 3. 4. 201 5. 6. 7. 8. i. ii. 9. 6 10. 11. 10 77

A. B. C. D. D. 619 106 82 (a) (b) 67 (a) 78

(b)(c) (d) 79

[ ] 10,00010,000 10,000 10,00050% 50% 20,0005,000,000 1,890,0001,890,000 1.00 80

3,780,00050%50% 1,900,0001,900,000 2 280,0005,200,000 1 5,480,000 10,000 10,000 10,000 10,000 50% 50% 10,000 10,000 2 4,920,000 1 4,920,000 81

55 84,000,000 1.17 82

1.539 1.02 3.06 1.74 83

8,700 1.87 6.33 ISO 90012008 ISO 140012004 OHSAS 18001 2007 [ ] 296,900,000 84

[] A. 4. 50% 50% 50% 50% 1. 2. 85

[ ] 100% 100% 100% 1. 2. 3. 86

[ ] 100% 100% 100% 1. 2. 3. 87

16 (i) (ii)(iii) 51 3120 1,384,140,000 234,304,000 6,241,000 191,737,000 3,547,000 824,469,000109,706,00033,713,000 % % % % 149,234 93.3 255,484 93.9 180,479 96.9 135,834 87.8 10,729 6.7 16,465 6.1 5,846 3.1 18,807 12.2 159,963 100.0 271,949 100.0 186,325 100.0 154,641 100.0 88

94.1%96.0% 97.5% 2 16 61.8%53.3% 55.7% 2 10 55.7% 67.5% 54.0% 1 16 6,898,000 4,310,000 410,000812,000 21,441,00031,874,000 21,988,000 89

Ipsos 16 90

30 19 25 4,310,000410,000812,000 6,898,000 16 2 16 1610 91

ISO 90012008ISO 14001 2004 OHSAS 180012007 (i)(ii) (iii) 858 8.2% 92

(i) 21,441,00031,874,00021,988,000 [ ] [ ] (i) (ii)(iii) (iv) (ii) 70 238 93

[ ] [ ] 199,437,000 50 40 30 13 94

(iii) [] : 14,367,000 ; [ ] [ ] [ ] [ ] [ ] ; 6,000,000 20,000,000 (i)10,000,000 (ii)10,000,000 455,319,00050,000,000 40 1% 50,000,000 95

(i) (ii)(iii) (iv) (i) (ii)(iii) [ ] 96

1 16 7 6 2 2 319,704 125,214 644,681 301,317 1. 2. 98

20 476,985 12 142,120 16 319,704 24 654,569 16 137,700 7 125,214 15 642,083 1 8,400 6 644,681 20 1,278,364 2 195,541 2 301,317 20 1,384,140 99

20 2.2 100

26 25 14 3 5 5 29 30 19 % % % % 149,234 93.3 255,484 93.9 180,479 96.9 135,834 87.8 10,729 6.7 16,465 6.1 5,846 3.1 18,807 12.2 159,963 100.0 271,949 100.0 186,325 100.0 154,641 100.0 31 101

1 2 3 (a) (b) 1. 14,785 2,195 4 2. 13,104 3,149 4 3. 13,127 5,700 4 4. 14,056 6,272 4 5. 3,401 13,153 6 6. 18,338 17,275 5 7. 116,797 174,022 6 8. 3,518 466 4 9. 26,561 13,733 4 10. 8,258 3,297 4 11. 561 216 5 102

1 2 3 12. (c) 14. Dragages VSL 5,790 10,122 6 13. 1,388 1,721 6 (d) 15. Dragages VSL 78,744 87,535 6 8,400 8,714 6 (e) 16. 15,548 409 4 17. 27,500 1,114 4 (f) 18. 12,924 680 4 19. 10,430 759 4 20. 13,647 2,788 4 21. 14,622 1,193 4 22. 750 634 5 23. 1,400 1,829 6 103

(g) (h) (i) 1 2 3 24. Leighton China State Van Oord 25. China State Leader 26. China State Leader 27. China State Leader 28. China State Leader 34,800 8,741 4 871 854 5 2,323 2,701 6 2,133 3,735 6 576 304 5 29. D 10,385 11,040 6 30. H 7,184 666 4 31. H 1,839 1,403 5 483,760 386,420 104

1. 2. 3. 4. 5. 6. 105

20 1 2 3 (a) 1. 27,570 6,072 (b) 2. 98,000 15,217 3. 17,077 24,046 4. 4,731 5,422 5. 3,500 2,255 (c) 6. 122,770 30,880 106

1 2 3 7. 59,000 24,995 8. 4,753 (d) 9. 22,693 21,452 10. 11,011 15,165 107

1 2 3 (e) 11. H 2,207 2,954 12. H 958 3,408 13. H 3,799 1,860 (f) 14. D 36,299 24,021 15. D 35,804 649 16. D 4,415 (g) 17. 119,268 4,286 18. 58,064 1,446 108

1 2 3 (h) 19. 455,319 16,005 20. 296,902 1,384,140 200,133 1. 2. 3. 109

2 2 721 13 331 24 43 12 110

20 (i)(ii)(iii) (iv) (v) (i)(ii) (iii)(iv) 44 41 33 18 5 8 5 (%) 11.36 19.51 15.15 111

33 33 253 18 18 8 10 13 112

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

114

115

(i) (ii) (iii) 116

45 10%5% 50% 50% (i) (ii) (i) (ii) (iii) (()) 45 50% 12 50% 117

33.620.4 24.539.633.250.2 (i) (ii) (iii) 4,000,000 1% [ ] [ ] [ ] [ ] 118

(iii) [ ] (i) (ii) 119

(iii) 63.2%53.1% 36.7%94.1%96.0% 97.5% 120

% 1. 12 45 101,138 63.2 2. 16 45 20,145 12.6 3. 11 45 11,350 7.1 4. D 2 45 9,688 6.1 5. Leighton China State Van Oord D 10 45 8,118 5.1 150,439 94.1 9,524 5.9 159,963 100.0 121

% 1 12 45 144,349 53.1 2 Dragages VSL 2 45 61,682 22.7 3 11 45 36,300 13.3 4 D 2 45 11,013 4.0 5 16 45 7,988 2.9 261,332 96.0 10,617 4.0 271,949 100.0 122

% 1 11 45 56,688 36.7 2 3 Dragages VSL 12 45 2 45 33,643 21.7 29,136 18.8 4 16 45 16,367 10.6 5 D 2 45 15,009 9.7 150,843 97.5 3,798 2.5 154,641 100.0 5% 123

106,569 66.6 206,031 75.8 62,779 40.5 22,520 14.1 41,465 15.2 56,688 36.7 D 18,847 11.8 17,088 6.3 18,807 12.2 94.1%96.0% 97.5% 63.2%53.1% 36.7%Ipsos 50% 124

Ipsos 886 1,865 21.2% 101,138,000144,349,000 33,643,000 63.2%53.1% 21.7% 21.7% 70,096,000 9 125

(EPC) (BOT)(PPP) 12 17 111,000 297,000,000 (i) 45 5%5%(ii) (iii) (iv) (v)12 126

16 11,350,00036,300,00056,688,000 7.1%13.3%36.7% 127

10 90% 2 87,000,000 3 187,000,000 929,600,000 [ ] [ ] [ ] 20 191,737,000824,469,000 2015 47,695,00078,411,000 128

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

( ) ( ) 10%5% 50% 17,957,00019,217,00023,815,000 130

284,175,000 10% 25% (i) 131

15,583,000 33,832,00029,786,000 1,447,000 3,514,000 937,000 39.633.250.2 30.5%38.3% 46.7% 90.2%97.2% 93.6% (i) (ii) 132

(i)(ii) (iii) 69 30 133

% % % % 34,422 32.3 54,817 30.2 31,923 24.0 50,913 48.0 50,393 47.2 94,606 52.1 78,311 58.9 33,016 31.1 21,441 20.1 31,874 17.5 22,493 16.9 21,988 20.7 431 0.4 398 0.2 296 0.2 204 0.2 106,687 100.0 181,695 100.0 133,023 100.0 106,121 100.0 29.2%50.6%19.1% 55.7%67.5% 54.0% 134

% 1 12 45 21,092 29.2 2 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 72,265 100.0 135

% 1 12 45 64,160 50.6 2 F 3 C 7 30 4 30 5,917 4.7 5,647 4.5 4 11 45 5,317 4.2 5 H 8 30 4,451 3.5 85,492 67.5 41,386 32.5 126,878 100.0 136

% 1 11 45 10,561 19.1 2 1 12 45 8,361 15.1 3 1 16 45 3,969 7.2 4 H 8 30 3,666 6.6 5 J 1 30 3,337 6.0 29,894 54.0 25,314 46.0 55,208 100.0 137

5% 27,492,00073,004,000 23,985,000 27,336,00071,973,00023,985,000 99.4%98.6%100.0% 138

% % % 101,138 63.2 144,349 53.1 33,643 21.7 21,217 29.4 64,160 50.6 8,361 15.1 4.9 4.9 7.2 11,350 7.1 36,300 13.3 56,688 36.7 679 0.9 5,362 4.2 10,561 19.0 9.7 9.7 9.8 20,145 12.6 7,988 2.9 16,367 10.6 5,396 7.5 2,298 1.8 3,969 7.2 139

% % % 1.3 1.3 1.3 D 9,688 6.1 11,013 4.0 15,009 9.7 D 44 0.1 11.0 11.0 9.1 Dragages VSL 5,431 3.4 61,682 22.7 29,136 18.8 Dragages VSL 117 0.2 153 0.1 1,094 2.0 14.9 14.9 14.4 China State Leader 3,052 1.9 4,542 1.7 140

% % % China State Leader 39 0.1 1,031 0.8 29.0 29.0 34,422,00054,817,00050,913,000 141

17.3%17.7% 15.0% 61.8%53.3% 55.7% % 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 34,422 100.0 142

1. 2. B % 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 54,817 100.0 143

% 1 C 2 30 7,626 15.0 2 H 2 30 5,646 11.1 3 J 4 30 5,380 10.6 4 E 3 30 4,976 9.8 5 A 10 30 4,709 9.2 28,337 55.7 22,576 44.3 50,913 100.0 5% 144

(i) (ii) (iii)(iv) 30 60 50% 145

12 5% 50% 146

4,310,000410,000 812,000 6,898,000 (i) (ii) (iii) (iv) 147

(v) (vi) (vii) (viii) 10.0 5.0 10.0 4.0 10.0 7.5 10.0 10.1 10.0 4.2 10.0 1.9 10.0 1.7 10.0 8.3 10.0 5.7 Hop Fung Crane Company 148

21,441,00031,874,000 21,988,000 Hop Fung Crane Company Hop Fung Crane Company Hop Fung Crane Company Hop Fung Crane Company Hop Fung Crane Company 772,000633,000Hop Fung Crane Company Hop Fung Crane Company 1 2 149

6 1,055 1,105 8 3,345 4,720 15 1,669 3,076 27 728 4,163 56 6,797 13,064 5.8 4.7 10 [ ] [ ] (i) (ii) (iii) 150

3.21%7.35% 3.25% 6.21% 3.23% 6.21% 4,103,0003,223,000 4,171,000 94.1%92.3% 87.8% (a) (b) 151

(i)(ii) (iii) OHSAS 18001:2007 153

OHSAS 18001 OHSAS 18001:2007 154

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 3.38 1,000 16.22 1,000 0 155

1. 15 2. 3. 13 13 156

1.14 5.70 5.5 157

(1) 100 1,000,000 10 295 296 295 (2) (i) (ii) 158

(i) (ii)(iii) (iv) 159

OHSAS 18001:2007 (i) (ii)(iii)(iv) ISO 14001:2004 2,472,000 3,033,0001,381,000 40 40(1B) 40(1B) 200,000,000 160

40(1B) (i) (ii)(iii) 246,000262,000 409,000 161

238 7 8 17 8 22 176 238 162

5% 1,2501,500 1,397,000 2,262,0001,156,000 54.6% 700 Ipsos 141 1.8% 2.54 (i) (ii)(iii)(iii) Ipsos 163

19 1316 660 1,600,000 2,008,000 4,120,000 164

3 155 625 16,167 121 1387 1387 A 1388 1389 10,118 16,800 21,000 191317 15,00018,000 11,000 13,396,000 165

679,000 12,700,000 B. 2. (i) (ii) 310 166

167

ISOOHSAS ISO 9001 2008 ISO 14001: 2004 OHSAS 18001: 2007 168

55 (i) (ii) (iii) (iv) (i)(ii) (i) (ii) 169

1. 1 2. 1,399,000 3. 4. 170

5. 6. 2 7. 2 3 8. (i) (ii) (iii) (i) (ii) 500,000 (iii) 50,000 (i)(ii) (iii) 120,000 120,000 15,000 171

9. (i) (ii) 500,000 (i) (ii) 150,000 13(1) 1 2. 3. 172

347 2 0 3 6 1 6 0 1 6 13 173

1 7 3 0 1 1 1 8 4 1. 110,000 1 2. 591,000 1 3. (i) (ii) 2 1,054,000 1 174

4. (i) (ii) 34 1,837,040 2 1 5. (i) 2 878,200 1 (ii) 6. (i) 1,050,000 1 (ii) 7. (i) 250,000 1 (ii) 1. 2. 175

(i)(ii) (iii)(iv) (v)(vi) [ ] E. 1. 176

1. 2 59I38B(1A) 68(1)(a)68(2)(g) 20,000 20,000 2. 6 59J18(1)(e) 19 4,000 4,000 177

(1) (2) 57 [ ] E.1. (i) (ii) (iii) (iv) (i)(ii) 178

(i) (ii) 5.015.02 11.06 [ ] CT Partners CT Partners 1. 2. 57 179

CT PARTNERS [ ]CT Partners CT Partners CT Partners Certified General Accountants Association of British Columbia CT Partners 15 CT Partners 180

[] CT Partners (i) (ii) (iii) 24,000 181

(i) (ii) OHSAS 18001 (i)5.015.02 (ii) 11.06[ ] (i) (ii) (iii) (iv) (v) 182

57 58 55 31 30 45 30 183

27 64 39 57 30 58 19 184

Luen Hing Civil Eng Co. 55 25 Tobishima Corporation Tobishima Corporation Safety & Health Supervisor (Construction) 31 185

30 irregular Consulting Limited 8019 University of New South Wales 45 186

Dalhousie University 306 New Time Trading Company 17.50(2) (i) (ii)(iii) C.1. XV(iv) (v)17.50(2)(vi) 27 187

64 25 Leighton-China State-John Holland Shui On-China Harbour K.E.C. Seneca College 39 14 HK Construction AMEC China Railway China Everbright McMaster University 188

32 2277 [] D. 189

3,946,0003,934,0002,160,000 4,747,0004,783,000 2,641,000 4,400,000 190

[] 6A.19 6A.23 (1) (2) (3) [ ] (4) 17.11 191

[ ] [ ] 18.03 192

[ ] 30% 11.04 (i) II21 22 [ ] 9 284,175,000 193

(i) 10% 25% (ii) 9 4 5 1 2 3 1. 4 2. 5 3. 6 4. 5 5. 4 11,011 17,077 122,770 59,000 22,693 25% 10% 25% 1. 2. 3. 4. [ ] 5. [ ] 194

6. [ ] 10% (i) [ ] (ii) [ ] 1,060,000 284,157.175,267,065.80 280,0005,200,000 1 5,480,0004,157.1767,065.80 [ ] 4,924,580.87 195

4,920,0001 4,920,000 4,580.87 [ ] (ii) Hop Fung Crane Company Hop Fung Crane Company Hop Fung Crane Company Hop Fung Crane Company 772,000633,000Hop Fung Crane Company Hop Fung Crane Company 1913 17 15,00018,000 11,000 3 15 5 16,167 16,167 196

(iii) (iv) (v) 197

11.04 11.04 (a) (i) (i (ii) (iii) (ii) 198

(iii) (b) (c) (d) (i) (ii) (e) (i) 199

(ii) (f) (g) (h) (i) (ii) 30% (i) (i) 5% (ii) 5% 200

(a) (b) (c) (d) (e) (a) (b) 201

[ ] XV2 3 10% [] [] [] [] 1 [] [] 2 [] [] 3 [] [] 4 [] [] 1. [ ] [ ] 2. [ ] [ ] 3. [ ] 4. [ ] 202

[ ] XV2 3 10% 203

[ ] 2,000,000,000 20,000,000 [ ] 10,000 100 [ ] [ ] [ ] [ ] [ ] [ ] [ ] 11.23(7) 25% [ ] [ ] [] [ ] 204

[ ] [ ] [ ] [] (a) [ ] 20% (b) (a) (b) (c) 205

A. 3. [] [ ] 10% A. 6. (a) (b) (c) A. 6. D. 206

207

(i) (ii)(iii) 159,963,000271,949,000 154,641,000 208

(i) (ii) 39 209

137,620,000 233,075,000 131,586,000 94.9%94.6% 95.8% 1% 10% 210

2 3 II2.14 II2.7 II2.5 II3.1 211

159,963 271,949 186,325 154,641 (144,943) (246,349) (170,904) (137,355) 15,020 25,600 15,421 17,286 425 346 347 2,236 (3,607) (3,772) (1,493) (10,122) 11,838 22,174 14,275 9,400 (452) (471) (291) (338) 11,386 21,703 13,984 9,062 (1,956) (3,624) (2,337) (2,670) 9,430 18,079 11,647 6,392 212

4829 19 % (a) 1. 967 1,228 2,195 100 2. 3,149 3,149 100 3. 5,700 5,700 100 4. 5,120 1,152 6,272 100 5. 13,153 13,153 100 213

% 6. 60,261 106,183 7,578 174,022 99.9 7. 3,017 14,258 17,275 100 (b) 8. 281 185 466 100 9. 13,733 13,733 100 10. 2,755 542 3,297 100 11. 180 36 216 100 12. 5,975 4,147 10,122 100 13. 1,721 1,721 100 214

% (c) 14. Dragages 5,431 56,980 25,124 87,535 92.3 VSL 15. Dragages 4,702 4,012 8,714 100 VSL (d) 16. 1,744 4,328 6,072 20.7 (e) 17. 10,098 4,779 340 15,217 89.7 18. 10,501 13,545 24,046 88.1 19. 5,422 5,422 77.1 20. 2,255 2,255 64.4 215

% (f) 21. 138 20,086 10,656 30,880 24.2 22. 525 24,470 24,995 42.1 (g) 23. 409 409 100 24. 1,114 1,114 100 (h) 25. 12,285 2,880 15,165 96.5 26. 5,085 16,367 21,452 80.3 216

% (i) 27. 680 680 100 28. 759 759 100 29. 2,788 2,788 100 30. 1,193 1,193 100 31. 611 23 634 100 32. 1,829 1,829 100 217

% (j) 33. Leighton China 8,118 623 8,741 100 State Van Oord 34. China State Leader 854 854 100 35. China State Leader 2,701 2,701 100 36. China State Leader 2,013 1,722 3,735 100 37. China State Leader 185 119 304 100 (k) 38. D 9,688 1,352 11,040 100 218

% (l) 39. H 666 666 100 40. H 375 1,869 710 2,954 64.9 41. H 2,180 1,228 3,408 96.8 42. H 1,403 1,403 100 43. H 1,860 1,860 45.9 (m) 44. D 9,661 14,360 24,021 52.6 45. D 649 649 1.8 (n) 46. 1,446 1,446 2.4 47. 4,286 4,286 3.6 (o) 48. 16,005 16,005 3.5 159,963 271,949 154,641 586,553 219

% % % % 149,234 93.3 255,484 93.9 180,479 96.9 135,834 87.8 10,729 6.7 16,465 6.1 5,846 3.1 18,807 12.2 159,963 100.0 271,949 100.0 186,325 100.0 154,641 100.0 51,678 79,074 59,693 49,083 37,004 60,219 42,090 27,576 31,617 59,971 37,866 35,512 17,321 33,811 21,904 19,415 909 1,746 1,290 477 2,923 2,560 1,561 1,641 898 1,710 1,182 1,051 78 159 108 173 2,515 7,099 5,210 2,427 144,943 246,349 170,904 137,355 220

51,678,000 79,074,000 49,083,000 35.7%32.1% 35.7% 37,004,00060,219,000 27,576,00025.5% 24.4% 20.1% 31,617,00059,971,000 35,512,000 21.8%24.3% 25.9% 17,321,00033,811,00019,415,000 12.0%13.7% 14.1% 221

+10% 5,168 7,907 4,908 +5% 2,584 3,954 2,454 +2% 1,034 1,581 982-2% (1,034) (1,581) (982) -5% (2,584) (3,954) (2,454) -10% (5,168) (7,907) (4,908) +10% 3,700 6,022 2,758 +5% 1,850 3,011 1,379 +2% 740 1,204 552-2% (740) (1,204) (552) -5% (1,850) (3,011) (1,379) -10% (3,700) (6,022) (2,758) +10% 3,162 5,997 3,551 +5% 1,581 2,999 1,776 +2% 632 1,199 710-2% (632) (1,199) (710) -5% (1,581) (2,999) (1,776) -10% (3,162) (5,997) (3,551) 222

15,020 25,600 15,421 17,286 9.4% 9.4% 8.3% 11.2% (i) (ii) (iii)(iv)(v) (vi) 223

% % % % 12,755 84.9 23,063 90.1 14,099 91.4 15,745 91.1 2,265 15.1 2,537 9.9 1,322 8.6 1,541 8.9 15,020 100.0 25,600 100.0 15,421 100.0 17,286 100.0 8.6% 9.0% 7.8% 11.6% 21.1% 15.4% 22.6% 8.2% 9.4% 9.4% 8.3% 11.2% 224

27.5% 464,000 [] 2,072 1,923 567 922 753 704 469 368 279 301 192 223 108 91 64 82 64 43 43 1 24 24 61 4 4 4 36 [] [] 303 682 154 546 3,607 3,772 1,493 10,122 225

17.2%16.7% 29.5% 16.5% 31,684,000 17.0% 186,325,000 154,641,000 137,700,00016 455,319,000 34,549,00019.6% 170,904,000 137,355,00034.5%6.2% 226

15,421,000 1,865,000 12.1% 17,286,0008.3% 11.2% 27.5% (i) (ii) 1,889,000 347,000 2,236,000 1,792,000 8,629,000 1,493,000 10,122,000 [ ] [ ] 47,00016.2% 291,000 338,000 4,000,000 227

16.7%29.5% 16.5% [ ] 5,255,00045.1% 11,647,000 6,392,000 6.3%4.1% [ ] [ ] 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% 228

79,00018.6% 425,000 346,000 120,000 165,0004.6% 3,607,000 3,772,000 149,0002,072,000 1,923,000 200,000 303,000379,000682,000 306,000 19,000 4.2% 452,000 471,000 17.2% 16.7%16.5% 8,649,00091.7% 9,430,000 229

18,079,000 5.9% 6.6% [ ] 15,394 25,744 16,194 9,497 7,402 (3,687) (1,169) 5,228 (4,478) 209 (383) 11,495 (894) 477 (1,998) (9,332) 2,030 (3,001) (3,550) 7,391 1,389 3,419 3,419 418 3,419 418 (131) 7,809 230

9,497,000(i) 11,654,000 31,684,000(ii) 8,119,000 16,194,000(i) 19,061,000 (ii)4,908,000 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) 7,149,000 231

11,495,00012,700,000 1,643,000 383,000 209,000719,000 510,000 4,478,0004,625,000 147,000 9,332,000 (i)7,938,000(ii) 1,056,000(iii)214,000(iv) 124,000 1,998,000(i)991,000 (ii) 716,000 (iii)181,000(iv) 110,000 477,0004,000,000 (i)1,974,000(ii) 232

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) 214,000 523 7,555 9,474 17,593 16,795 35,276 54,215 54,320 54,872 3,419 5,900 7,977 14,367 46,250 70,112 79,890 86,034 23,941 19,717 27,436 40,101 39,891 39,980 28,326 23,316 6,604 2,689 10,056 9,874 1,474 1,199 1,537 1,660 10,536 18,940 5,688 5,295 1,607 1,607 82,446 82,525 74,650 81,853 (36,196) (12,413) 5,240 4,181 4,181,000 86,034,000(i)54,872,000(ii) 233

14,367,000 (iii)16,795,000 81,853,000(i)40,101,000 (ii) 23,316,000(iii)9,874,000 (iv)5,295,000(v)1,660,000 (vi) 1,607,000 5,240,000 79,890,000 (i)54,320,000(ii) 17,593,000(iii)7,977,000 74,650,000 (i) 28,326,000(ii)27,436,000(iii) 10,056,000(iv)5,688,000(v)1,607,000 (vi) 1,537,000 23,783,000 65.7%36,196,000 12,413,000 36,196,000 12,413,000 (i) 39,891,00039,980,000 (ii) 234

1,045 420 7,899 4,358 13,722 964 250 7,128 3,491 11,833 911 713 6,898 4,752 13,274 7,899,000 7,128,000 6,898,000 4,358,000 3,491,000 4,752,000 235

4,103,000 3,223,0004,171,000 (i) (ii) 7,555 9,474 17,593 (39,891) (39,980) (28,326) (32,336) (30,506) (10,733) 45 1,900,000 236

(i) (ii) (iii)12 (i)(ii)(iii) 15,583 33,832 29,786 17,957 19,217 23,815 1,736 1,166 719 35,276 54,215 54,320 45 15,583,000 33,832,000 237

33,832,000 29,786,000 8,506 17,309 20,763 29,331 51,517 50,931 030 7,511 14,383 25,825 3160 7,833 19,449 3,024 6190 154 66 90 85 871 15,583 33,832 29,786 238

15,583,000100%33,832,000 100% 29,108,000 97.7% 39.6 33.2 50.2 39.6 33.2 33.2 50.2 10% 5%50% 239

17,957,000 19,217,000 195,541,000 19,217,000 23,815,000 1,736,0001,166,000719,000 (i)(ii)(iii) 17,489 10,114 17,416 2,045 3,278 3,647 4,407 6,325 6,373 23,941 19,717 27,436 240

17,489,000 10,114,000 10,114,000 17,416,000 030 10,411 6,894 17,183 3160 5,556 2,646 31 6190 466 69 202 90 1,056 505 17,489 10,114 17,416 0 30 16,571,000 95.2% 33.6 20.4 24.5 33.620.424.5 241

6,604,0002,689,00010,056,000 [ ] 280,0005,200,000 1 5,480,000 4,157.1767,065.80 4,920,000 1 4,920,000 4,580.87 9,775,000 8,304,00014,696,000 / ( ) 242

162122 29 [] 6,604 2,689 10,056 9,874 1,474 1,199 1,537 1,660 10,536 18,940 5,688 5,295 18,614 22,828 17,281 16,829 2,278 1,912 2,411 2,471 20,892 24,740 19,692 19,300 243

2,984 6,404 5,520 5,295 5,482 168 7,552 7,054 10,536 18,940 5,688 5,295 6,000,000 6,000,000 5 10,536 18,940 5,688 0.91% 5.50%0.92% 5.50% 3.23% 5.50% 244

4,000,0003,512,000 [ ] 20,000,000 (i)10,000,000 (ii) 10,000,000 [] 245

1,619 1,314 1,677 1,805 1,254 1,001 1,398 1,549 1,149 1,008 1,121 1,022 4,022 3,323 4,196 4,376 (270) (212) (248) (245) 3,752 3,111 3,948 4,131 1,474 1,199 1,537 1,660 1,177 937 1,319 1,474 1,101 975 1,092 997 3,752 3,111 3,948 4,131 6.05% 7.35%5.44% 6.21% 5.44% 6.21% 3,752,0003,111,000 3,948,000 [ ] 246

[] 20,000,000 490 160 98 159 29 35 26 189 133 185 23 50 247

(i) (ii) (iii) (iv) (v) 196 84 514 4,310 410 812 2,784 1,349 2,210 7,290 1,843 3,536 248

[] [ ][ ] 1 12.6% 19.4% 6.9% 2 217.7% 43.5% 3 0.6 0.8 1.1 4 0.6 0.8 1.1 5 265.5% 65.6% 6 194.5% 11.3% 7 26.2 47.1 27.8 1. 2. 3. 4. 5. 249

6. 7. 8. 195,541,000 12.6%19.4% 6.9% 137,700,00016 [ ] 217.7% 43.5% [ ] 0.6 0.8 0.8 1.1 250

265.5% 65.6% 194.5% 11.3% 26.247.1 27.8 47.1 195,541,000 27.8 7,883,000[ ] 137,700,00016 19,300,000 5,295,000 251

9,874,000 4,131,000 14,367,000 [ ] [ ] [ ] [ ] [ ] 6,000,000 20,000,000(i) 10,000,000 (ii)10,000,000 [ ] 12 (i) (ii) 12 252

253

[ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] 254

III 20 1,384,140,000 234,304,000 6,241,000 16.9% 285,367,000 159,963,000 271,949,000 [ ] 255

301,317,000 D 4,415 296,902 20,000,000(i) 10,000,000 (ii)10,000,000 1,060,000 (i) [] [ ] [ ] 256

[] 1 3 4 5 [] [] [] [] [] [] [] 1. [ ] 2. 3,222,000 289,000 3. (i)1 5,480,000 (ii)1 4,920,000 257

4. [ ] [ ] [ ] [ ][] 5. 12 [ ] [ ] 6. 4,120,000 4,120 911 (13) (898) 3,222 258

17 [][] 17.15 17.21 [ ] [ ] 259

[] [] 260

[] [] 261

[] [] 262

[] [] 263

[ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] 264

[ ] [ ] [ ] [ ] [ ] [ ] [ ][] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [][] (i)[] 1% 3.99% (ii) [ ] 3% 3.23% 5 (iii) [ ] 5 2.50% 6.05%(iv) [ ] 4 2.25%5.5% (v) [ ] 3 2.25% 5.58% 265

[][]% [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [] [ ] [ ] [ ] [ ] [] [ ] [ ] [ ] [ ] [] [ ] [ ] [] [][][] [ ] [ ] [ ] [ ] 266

[ ] 267

[ ] 268

[ ] 269

[ ] 270

[ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] [ ] 4,800,000 [ ] [ ] [ ] [ ][] [ ] [ ] [ ] [ ] [ ] [ ] 271

[][] [ ] [ ] [ ] [ ][ ] [ ] [ ] [ ] [ ] 272

[ ] 273

[ ] 274

[ ] 275

[ ] [ ] 276

[ ] [ ] 277

[ ] [ ] 278

3.340 II 1.3 [ ] I-1

II 1.2 II 1.2 3.340 I-2

2410 II1.3 I-3

I. 4 159,963 271,949 186,325 154,641 (144,943) (246,349) (170,904) (137,355) 15,020 25,600 15,421 17,286 6 425 346 347 2,236 (3,607) (3,772) (1,493) (10,122) 11,838 22,174 14,275 9,400 7 (452) (471) (291) (338) 8 11,386 21,703 13,984 9,062 9 (1,956) (3,624) (2,337) (2,670) 9,430 18,079 11,647 6,392 13 I-4

14 11,697 11,140 15 13,722 11,833 13,274 23 3,280 28,699 22,973 13,274 16(a) 523 17 7,555 9,474 17,593 18 35,276 54,215 54,320 19 3,419 5,900 7,977 46,250 70,112 79,890 20 23,941 19,717 27,436 17 39,891 39,980 28,326 16(b) 6,604 2,689 10,056 21 1,474 1,199 1,537 22 10,536 18,940 5,688 1,607 82,446 82,525 74,650 (36,196) (12,413) 5,240 (7,497) 10,560 18,514 I-5

21 2,278 1,912 2,411 23 344 1,407 2,278 2,256 3,818 (9,775) 8,304 14,696 24 (9,775) 8,304 14,696 (9,775) 8,304 14,696 I-6

24 I-7

24 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 6,392 6,392 3,820 10,876 14,696 3,820 (13,595) (9,775) 11,647 11,647 3,820 (1,948) 1,872 I-8

11,386 21,703 13,984 9,062 3,676 3,264 2,030 2,009 (120) 306 (111) (120) (1,792) 452 471 291 338 15,394 25,744 16,194 9,497 3,695 (18,939) (19,061) (105) (7,149) (1,919) (4,841) (8,119) 23 (523) 523 8,749 (4,224) 4,908 7,719 (13,855) 89 228 (11,654) 545 (3,915) 1,403 7,367 7,402 (3,687) (1,169) 5,228 I-9

147 719 111 438 12,700 (4,625) (510) (494) (1,643) (4,478) 209 (383) 11,495 3,000 4,000 (238) (302) (181) (214) (214) (169) (110) (124) (1,876) (1,078) (716) (7,938) (1,566) (1,974) (991) (1,056) (894) 477 (1,998) (9,332) 2,030 (3,001) (3,550) 7,391 1,389 3,419 3,419 418 19 3,419 418 (131) 7,809 I-10

II 1. 1.1 1.2 1 100% (a) 3,800,000 100% (b) 20,000 100% (b) (a) (b) I-11

1.3 5 2. 2.1 3 1 1 1 9 2 I-12

15 2 1 2 2.2 (i) (ii) 39 2.3 I-13

2.4 25 2.5 5% 10% 10% 20% 2.6 I-14

I-15

2.7 2.14 2.8 2.9 I-16

2.11 2.10 2.11 I-17

2.12 2.13 I-18

2.14 2.15 I-19

2.16 2.17 (a) (b) (a) (b) (i) I-20

2.18 (ii), 13 2.19 2.20 (a) (i) (ii) (iii) I-21

(b) (i) (ii) (iii) (iv) (v) (vi) (a) (vii) (a)(i) 3. 3.1 2.7 2.14 I-22

3.2 1415 2.6 4. 159,963 271,949 186,325 154,641 5. (a) I-23

(b) 6. 10% 1 101,138 144,349 123,357 33,643 2 20,145 16,367 3 61,682 32,999 29,136 4 36,300 18,478 56,688 10% 120 111 120 1,792 276 298 198 105 29 48 38 219 425 346 347 2,236 7. 214 169 110 124 238 302 181 214 452 471 291 338 I-24

8. 24 24 61 1,494 1,628 1,084 1,058 1,625 1,079 575 719 557 557 371 232 (120) 306 (111) (120) (1,792) 17,321 33,811 21,904 19,415 208 227 142 172 31,617 59,971 37,866 35,512 (229) (248) (175) (85) 9. 16.5% 1,607 23 1,956 3,624 2,337 1,063 1,956 3,624 2,337 2,670 I-25

11,386 21,703 13,984 9,062 16.5% 1,878 3,580 2,307 1,495 58 76 23 1,326 (132) 20 33 (26) (4) (32) (15) 1,956 3,624 2,337 2,670 10. 37,679 59,880 41,090 27,342 1,397 2,262 1,567 1,156 39,076 62,142 42,657 28,498 I-26

1,752 48 1,800 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 3,934 720 12 732 720 12 732 256 12 268 416 12 428 2,112 48 2,160 560 12 572 560 12 572 240 12 252 392 12 404 1,752 48 1,800 I-27

(b) 1,036 1,073 694 725 152 166 30 35 23 24 1,218 1,274 717 749 1,000,000 2 2 2 2 12. 13. II 1.3 I-28

14. 13,925 (13,925) 1,671 557 2,228 557 2,785 232 (3,017) 12,254 11,697 11,140 22 11,000,000 12,450,000 I-29

13 10,293 12,019 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-30

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 11,833 514 812 2,210 3,536 (307) (11) (318) (53) (51) (735) (938) (1,777) 911 713 6,898 4,752 13,274 1,608 1,182 12,771 14,077 29,638 (697) (469) (5,873) (9,325) (16,364) 911 713 6,898 4,752 13,274 22 4,103,000 3,223,000 4,171,000 21 I-31

16. (a) 173 23 523 523 733 523 (b) 6,027 2,689 6,589 577 3,467 6,604 2,689 10,056 I-32

17. 649,003 822,298 403,420 (681,339) (852,804) (414,153) (32,336) (30,506) (10,733) 7,555 9,474 17,593 (39,891) (39,980) (28,326) (32,336) (30,506) (10,733) 18. 15,583 33,832 29,786 17,957 19,217 23,815 1,736 1,166 719 35,276 54,215 54,320 0 30 7,511 14,383 25,825 31 60 7,833 19,449 3,024 61 90 154 66 90 85 871 15,583 33,832 29,786 45 I-33

14,136 30,318 28,849 30 1,208 3,514 66 31 60 154 692 61 90 33 179 90 52 15,583 33,832 29,786 17,957,000 19,217,000 23,815,000 11,056,00011,757,000 18,482,000 19. 3,419 5,900 7,977 22 (5,482) (168) 3,419 418 7,809 I-34

20. 17,489 10,114 17,416 2,045 3,278 3,647 4,407 6,325 6,373 23,941 19,717 27,436 0 30 10,411 6,894 17,183 31 60 5,556 2,646 31 61 90 466 69 202 90 1,056 505 17,489 10,114 17,416 0 30 2,045,000 3,278,000 3,647,000425,0001,719,000 2,217,000 I-35

21. 1,619 1,314 1,677 1,254 1,001 1,398 1,149 1,008 1,121 4,022 3,323 4,196 (270) (212) (248) 3,752 3,111 3,948 1,474 1,199 1,537 1,177 937 1,319 1,101 975 1,092 3,752 3,111 3,948 22. 10,536 18,940 5,688 I-36

i 2,984 6,404 5,520 i 5,482 168 ii 7,552 7,054 10,536 18,940 5,688 (i) 3.21%3.25% 4.00% 3.23% 3.99% 5.5%5.5% 5.5% 4,000,0003,512,000 (ii) 0.91% 0.92% 23. 16.5% I-37

5,236 3,280 (344) (1,956) (3,624) (1,063) 3,280 (344) (1,407) (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 (320) (743) (1,063) (1,407) (1,407) 3,280 (344) (1,407) 3,280 (344) (1,407) I-38

24. 38,000,0000.01 38,000,000 380 1 0.01 1 380,000 38,000,000 0.01 1 [ ] 1,962,000,0000.01 380,000 20,000,000 25. 26. 2,665,0001,333,000 1,893,000 I-39

27. 160 98 159 29 35 26 189 133 185 23 50 28. 490 I-40

29. (a) 1621 22 Hop Fung Crane Companyi 772 409 633 ii (i) Hop Fung Crane Company (ii) (iii) 62,635,000 232,551,000 232,551,000 (b) 4,938 4,971 2,390 2,886 90 105 69 77 5,028 5,076 2,459 2,963 30. I-41

31. (a) 33,777 53,195 53,770 523 3,419 5,900 7,977 37,196 59,618 61,747 23,941 19,717 27,436 6,604 2,689 10,056 10,536 18,940 5,688 3,752 3,111 3,948 44,833 44,457 47,128 (b) (i) 50 44,00079,00024,000 50 I-42

(ii) 25%33% 39% (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-43

19,717 19,717 19,717 2,689 2,689 2,689 5,482 5,482 5,482 13,458 13,458 13,458 1,314 1,001 1,008 3,323 3,111 42,660 1,001 1,008 44,669 44,457 27,436 27,436 27,436 10,056 10,056 10,056 168 168 168 5,520 5,520 5,520 1,677 1,398 1,121 4,196 3,948 44,857 1,398 1,121 47,376 47,128 1,233 1,235 3,594 5,245 11,307 2,119 2,119 5,578 4,678 14,494 1,552 1,552 2,843 5,947 I-44

(c) 32. 10,536 18,940 5,688 3,752 3,111 3,948 14,288 22,051 9,636 (3,419) (5,900) (7,977) 10,869 16,151 1,659 (9,775) 8,304 14,696 194% 11% I-45

III (a) [ ] [ ] (b) 1 5,480,000 1 4,920,000 (c) [ ] I-46

IV 28 12 P04834 [ ] I-47

[ ] II-1

[ ] II-2

[ ] 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

191316 389 3100 9 18 4 14 13 660 4,120,000 100% 4,120,000 12370 389 3% (1) Luen Hing Construction & Eng. Limited 07062801080207 (2) (i) (ii) NT 84/94 ST772958 ST783198 (iii) ST783403 (iv) 13041901280310 (3) S/ST/32 (4) Charles Choi III-5

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

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. IV-29

A. 1. 16 3151505 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 50% 50% (b) 50,000 1.00 (c) 380,000 38,000,0000.01 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)[ ] (g) 280,0005,200,000 1 5,480,000 (h) 4,920,000 1 4,920,000 (f) 5. V-5

A.4. 6. (a) (i) [ ] 10% (ii) V-6

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

(e) 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 10,0002 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) 280,000 5,200,0001 5,480,000 (o) 4,920,000 1 4,920,000 (p) (q) (r) [ ] V-10

2. (a) 303571065 7, 37 (b) luenwong.hk C. 1. (a) [ ] V-11

XV XV7 8 352 5.465.67 (i) [] [] 1 [] [] 2 [] [] 1. [ ] 2. [ ] (ii) [ ] [] [] [] V-12

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

3. (a) 3,946,0003,934,0002,160,000 (b) 4,400,000 (c) [ ] 1,080,000 1,080,000 670,000 480,000 120,000 120,000 120,000 (d) [] V-14

4. E.3. E.7. 5. 29 6. (a) A. [] XV23 10% (b) XV XV78 352 5.465.67 V-15

(a) (b) (i) (ii) V-17

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

10%10% (cc) 10% 10% (dd) 30% 30% (vi) 12 1% V-19

(vii) (aa) (bb) 12 (i) 0.1% (ii) 5,000,000 (viii) (aa) (i) V-20

(ii) (bb) (aa) (i) 60 (ii) 30 (ix) (x) (xi) V-21

(xii) (xiii) 3 (xiv 12 12 (xvii)(xviii) (xix) (xiv) (xv) (xiv) 3 (xvi) V-22

(xvii) (xviii) 2 (xix) V-23

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

(ee) (ff) (gg) (xix) (xxi) (xxii) (xxiii) (aa) 23.03 (bb) (cc) V-25

(xxiv) (xxv) [] [] (c) E. 1. B. 1. (q) (a) [] (b) V-26

(i) (a) (ii) (a) (iii) (a) (iv) (a) (b) (a) (b) (c) V-27

(d) (e) (a) 2. 3. [] [ ] [] (a) [] (b) [ ] (c) 6A.19 V-28

[ ] 4,800,000 [ ] 4. 42,000 5. 6. 1 6 7. 6. V-29

8. 44A 44B 9. [] [] 10. 11. (a) (b) (c) [] V-30

13. (a) (i) (aa) (bb) (cc) (ii) (iii) (iv) 24 (v) 6. (aa) (bb) V-31

(vi) (vii) (viii) (ix) 14. [ ] [ ] 15. 32L 4 V-32

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

(i) C.2. (j) (k) (l) (m) [ ] [ ] (n) Ipsos (o) VI-2