138 Star Cruises Annual Report 2008 * Sept-Isles * *

138 Star Cruises Annual Report 2008 * Sept-Isles * *

139 Consolidated Income Statement * * * * * * * * * * * * * * * **

03 04 08 10 16 23 28 44 63 64 66 71 74 132 133 134 136 02

HEAH Sieu Lay Appleby Services (Bermuda) Ltd. Canon s Court, 22 Victoria Street, Hamilton HM 12, Bermuda 51501 (852) 23782000 (852) 23143809 18346 (852) 28628628 (852) 28650990/25296087 M & C Services Private Limited 138 Robinson Road #17-00, The Corporate Office, Singapore 068906 (65) 62280507 (65) 62251452 22 www.starcruises.com (852) 23782000 (852) 23143809 sandysi@starcruises.com (852) 23782000 (852) 23143809 louisatam@starcruises.com Butterfield Fulcrum Group (Bermuda) Limited Rosebank Centre, 11 Bermudiana Road, Pembroke HM08, Bermuda (441) 2951111 (441) 2956759 03

04 F2 F2 NCL 153,0004,200 Norwegian EpicSTX Europe 19 1,068 13328.5 Norwegian EpicNCL NCL

05

06

TTG TTG China Travel Awards Travel Weekly (Asia) Industry Awards The Brand Laureate Apollo Management, L.P. NCL10 NCL Alliance Global Group, Inc. AGI Travellers International Hotel Group, Inc. Newport City Manila Bay Newport Entertainment and Commercial Centre 24 MaximsMarriot 1,00047,560 1,030 22,950 07

* 08

* NCL * NCL * 09

TTG 2008TTG The Brand Laureate Awards 2007-2008 10

NCL NCL NCL NCL 11

12

4,000 SWAMI RAMDEVJI 13

Braydon Holland 2008 2008 14

300,000 NCLWorld Savers Awards NCL 15

NCL Corporation Ltd. NCLC NCLC 30,000NCLC Norwegian Epic NCLC Apollo Management, L.P.Apollo1,000,000,000 NCLC NCLC NCLC Apollo NCLC 100% 16

17

NCLC NCLC NCLCNCLC NCLC NCLC NCLC 436,600,000425,300,000 2.7% 2,491,7432,264,906 0.8% 7.8% 3.210.0% 84.5%87.7% 552,100,000 392,700,000 159,400,000 250,400,000 56,500,000306,900,000 19.3%8.4% 35% 18,900,00024.7%20.9% 64,200,000 15,300,00079,500,000 12.5% 10,000,000 75,500,000 9,700,00065,800,000 20.8% 99,900,000 2,600,000 18

18,500,0006,600,000 (a) (b) (c) (d) (e) 42,000,000 16,600,000 25,400,000 10,000,000 NCLC80,800,000NCLC104,100,000 53,100,0002,700,000 Resorts World at Sentosa Pte. Ltd.53,700,000 97,000,000 39,300,000 3,500,000 4,000,000 79,500,000 35,300,000 NCLC 108,800,000112,100,0003,300,000 (a) (b) (c) 6,700,000 88,400,000 81,700,000 79,500,00051,400,000 160,300,000 1,300,000 NCLC196,900,000 NCL NCLA NCLANCLC56,000,000 NCLCNCLC10,000,000 (d) 286,000,000 Travellers International Hotel Group, Inc. 42.6% 19

(e) 118,500,000 65,900,000 NCLC0.17 0.12 410,000,000360,000,000 2,340,000,0002,920,000,000 35 520,000,000 27 900,000,000 141,800,000112,100,000 29,700,000 NCLCNCLC Apollo 100,000,000 NCLC 50,000,000 50,000,000 25,000,000 Alliance Global Group, Inc. 20

NCLC NCLC 2.9%6.9% 3.7% 3.5% 396 41.5% 561 8.5% 9.8% NCLC128,800,000 NCLC OceanicIndependence NCLC 2,600,000 5,059 4,15582%90418% 21

49,600,000 5.5 13,300,000 5.5 12%88% 7,100,000 22

57 Genting International P.L.C. Genting International P.L.C. Genting BerhadGBGBGB Bursa Malaysia Securities Berhad Resorts World BhdRWBRWB GB 48.47%Asiatic Development Berhad GB Resorts World LimitedRWLKien Huat Realty Sdn Bhd Parkview Management Sdn Bhd Golden Hope Limited Joondalup Limited Cove Investments Limited GB RWB RWL Kien Huat Realty Sdn Bhd Parkview Management Sdn BhdGolden Hope LimitedGolden Hope Unit TrustJoondalup Limited Cove Investments LimitedGB Burswood Resort 60 Exxon Corporation Genting Australia Pty Ltd.University of Canterbury 54 Genting International Group Macquarie University 23

65 Bristol University Kingway Brewery Holdings Limited Frasers Property (China) Limited Noble Group Limited United International Securities Limited Asia Credit Hedge Fund Ltd. CQS Convertible and Quantitative Strategies Feeder Fund Ltd. CQS Asia Feeder Fund LimitedKGR Absolute Return PCC LimitedGlobal Investment House (K.S.C.C) China Sunergy Co., Ltd. The LIM Asia Arbitrage Fund Inc.LIM Asia Multi-Strategy Fund Inc.Bear Stearns Global Alpha Fund Limited 53 Bursa Malaysia Securities Berhad IGB Corporation Berhad 58 Queen Mary College Heah Sieu Lay Heah Sieu Lay55Heah Lion Diversified Holdings Berhad Lion Industries Corporation BerhadBursa Malaysia Securities BerhadHeah RHB Sakura Merchant Bankers BerhadRHB SakuraRHB Investment Bank BerhadRHB Sakura Heah City of London Polytechnic 24

46 Genting Berhad Bursa Malaysia Securities Berhad MESDAQCarleton University 482315 Simon Fraser University 47DBS Vickers Securities Euroclear Bank S.A. Dresdner Bank AGBrunel University 41 (Victoria University of Wellington) Bursa Malaysia Securities Berhad 50 20 25

Gustaf Gronberg Gustaf Gronberg50Gronberg Gronberg 30 Stockholm Maritime Academy 47 Swiss Private BankKorn/Ferry International (University of Guelph) 48 Resorts World Bhd Resorts World Bhd 50 20 (Maastrict School of Management) 36 (University of Windsor) 12HSBC Private Bank Suisse EFG Private Bank 26

34 3613 (University of Hull) 27

38 NCLC 63 71 73 133 100,000 134 135 15 26 28 27 28

David Colin Sinclair Veitch Heah Sieu Lay (a) 99 (b) Heah Sieu Lay102(B) Heah Sieu Lay 3.13(a) (c) 23 27 34 29

(a) 34 (b) (b) (d) (1) Genting BerhadGB ) Bursa Malaysia Securities Berhad GB GB GB GB GB GB 5,000,000 GB2,600,0005,000,000 (2) (i) WorldCard International LimitedWCILWorldCard WorldCard WC WCILGenting International P.L.C.GIPLC50%WCIL WCWCIL WCWorldCard WC (ii) Resorts World BhdRWBGIPLC RWB WCILGIPLC WCWC WorldCard RWB Bursa Malaysia Securities BerhadGIPLC GB RWB GIPLC 48.47% 54.44%RWB GIPLC 30

WC WC (i) GB(ii) GB14A.33 14A.35WCILRWB GIPLC WC WC WC WC WC WC WC 1,500,000 2,000,000 2,000,000 500,000 1,000,000 1,000,000 (i) WCGB1,200,000 1,500,000 (ii) WCGB300,000 500,000 GBWC GBWC (i) (ii) (iii) GBWC (c) (c) 0.1% 14A.33 (d) (g) 34(g) 31

Genting BerhadGBResorts World Bhd RWBBursa Malaysia Securities Berhad Genting International P.L.C.GIPLC RWBRWB GIPLC GB RWB GIPLC 48.47% 54.44% Macau Land Investment Corporation Alliance Global Group, Inc. Travellers International Hotel Group, Inc.50% 8.10 RWB GIPLC GB RWB GIPLC GB 32

352 (A) 362,379,135 36,298,108 2,035,982,196 4,974,882,524 5,920,188,675 79.720 (1) (2) (3) (4) 1,168,504 1,168,504 0.016 752,631 752,631 0.010 (1) Goldsfine Investments Ltd.Goldsfine 36,298,108 (2) 2,035,982,196(i)Goldsfine36,298,108Goldsfine 50% (ii)joondalup Limited546,628,908Joondalup Limited 100% (iii)resorts World LimitedRWL 1,432,959,180Genting Overseas Holdings LimitedGOHL 20,096,000RWL GOHL (3) Parkview Management Sdn Bhd GZ Trust Corporation 4,974,882,524 (4) (5) (A)(B) 33

(B) 14,300,823 0.193 2,473,435 0.033 2,350,134 0.032 36 (B)(A) (C) WorldCard 500,000 1,000,000 1,000,000 100 International Limited (2) (3) (4 5) WCIL(1) (1) WCILGenting International P.L.C.GIPLC50% (2) GIPLC Calidone LimitedCalidone 500,000 WCILGIPLC Genting BerhadGBGOHL54.44Calidone (3) WCIL 1,000,000 (4) (5) WCIL 34

(D) (a) (b) 352 36 (A) 1,411,493 (470,499 ) 940,994 0.2524 () 535,393 (178,466 ) 356,927 0.3953 519,170 (129,793 ) 389,377 0.2524 1,411,493 (470,499 ) 940,994 0.2524 535,393 (178,466 ) 356,927 0.3953 129,792 (32,449 ) 97,343 0.2524 4,542,734 (1,460,172 ) 3,082,562 165,484 (55,163 ) 110,321 0.2524 () 29,202 (9,735 ) 19,467 0.3953 249,200 (62,302 ) 186,898 0.2524 10,382 (2,597 ) 7,785 0.3953 454,268 (129,797 ) 324,471 6,487 6,487 0.2524 () 38,938 (12,980 ) 25,958 0.3953 147,961 147,961 0.2524 10,382 (2,597 ) 7,785 0.3953 203,768 (15,577 ) 188,191 35

(A) David Colin Sinclair 519,170 (129,793 ) 389,377 0.3953 Veitch 3,743,804 (1,164,939 ) (399,055) 2,179,810 0.2524 2,117,151 (675,146 ) (293,925) 1,148,080 0.3953 176,493 (54,825 ) (9,082) 112,586 0.2524 464,547 (155,780 ) (13,628) 295,139 0.3953 753,276 (79,831 ) (361,980) 311,465 0.2524 1,102,830 (228,643 ) (178,253) 695,934 0.3953 8,358,101 (2,359,164 ) (1,255,923) 4,743,014 14,078,041 (4,094,503 ) (1,255,923) 8,727,615 David Colin Sinclair Veitch 20% 30%10% 36

(B) 2 3,585,521 3,585,521 2.8142 632,740 632,740 1.6202 7,000,000 7,000,000 1.7800 3 4,218,261 7,000,000 11,218,261 551,619 551,619 2.8142 97,345 97,345 1.6202 1,500,000 1,500,000 1.7800 3 648,964 1,500,000 2,148,964 661,943 661,943 2.8142 1,500,000 1,500,000 1.7800 3 661,943 1,500,000 2,161,943 David Colin Sinclair 2,206,475 2,206,475 2.8142 Veitch 1 389,378 389,378 1.6202 2,595,853 2,595,853 64,986,686 (11,321,018 ) (165,486 ) 53,500,182 2.8142 843,652 (300,895 ) 542,757 2.8142 9,178,940 (3,505 ) 9,175,435 1.6202 25,540,000 (150,000 ) 25,390,000 1.7800 3 75,009,278 25,540,000 (11,771,913 ) (168,991 ) 88,608,374 83,134,299 35,540,000 (11,771,913 ) (168,991 ) 106,733,395 (1) David Colin Sinclair Veitch (2) (3) 1.7400 37

(B) 1,700,0004,400,000 0.17 2.99% 10 52.72% (i) (ii) 20% 30% 20%10% 38

336 5% (A) Parkview Management 1,453,055,180 1,453,055,180 1,453,055,180 19.57 Sdn Bhd (10) (12) (19) (1) Kien Huat Realty 1,453,055,180 1,453,055,180 19.57 Sdn Bhd (2) (10) Genting Berhad (3) 1,453,055,180 1,453,055,180 19.57 (10) Resorts World Bhd (4) 1,432,959,180 1,432,959,180 19.30 (11) Sierra Springs Sdn Bhd (5) 1,432,959,180 1,432,959,180 19.30 (11) Resorts World Limited (5) 1,432,959,180 1,432,959,180 19.30 GZ Trust Corporation 3,521,827,344 3,521,827,344 3,521,827,344 3,521,827,344 47.42 (13) 14 (16) (19) (6) Cove Investments 3,521,827,344 3,521,827,344 47.42 Limited (7) 17 Golden Hope Limited 3,521,827,344 3,521,827,344 47.42 Golden Hope Unit (15) Trust(8) Joondalup Limited (9) 546,628,908 546,628,908 7.36 5,920,188,675 36,298,108 5,920,188,675 79.72 18(a) (18(b)) (19) 39

(A) (1) Parkview Management Sdn BhdParkview1 Parkview33.33% (2) Kien Huat Realty Sdn BhdKHR1Aranda Tin Mines Sdn Bhd Infomark (Malaysia) Sdn Bhd Inforex Sdn Bhd Dataline Sdn Bhd Info-Text Sdn BhdParkview 1 100%KHR100% (3) Genting BerhadGBBursa Malaysia Securities BerhadBursa MalaysiaKHR 39.62% (4) Resorts World Bhd RWBBursa MalaysiaGB 48.43% (5) Resorts World LimitedRWLSierra Springs Sdn BhdSierra Springs RWB (6) GZ Trust Corporation ( GZ ) 2 GZ 2 Golden Hope Unit Trust GHUT99.99%CoveGHUT 0.01% (7) Cove Investments Limited ( Cove ) GZ 2 (8) Golden Hope Limited Golden HopeGHUT (9) Joondalup Limited (10) Parkview 1KHR GB1,453,055,180RWL1,432,959,180 GB Genting Overseas Holdings LimitedGOHL 20,096,000 (11) RWB Sierra SpringsRWL1,432,959,180 (12) Parkview11,453,055,180 RWL1,432,959,180 GOHL20,096,000 (13) GZ 2Golden HopeGHUT 3,521,827,344 (14) GZ2 Golden HopeGHUT 3,521,827,344 (15) Golden Hope GHUT 3,521,827,344 (16) GZ 2GHUTGolden HopeGHUT 3,521,827,344 (17) CoveGHUT 0.01%GHUTGolden HopeGHUT 3,521,827,344 40

(A) (18) (a) 5,920,188,675 (B) (b) Goldsfine 50%Goldsfine36,298,108 (19) (20) (B) 14,300,823 0.193 14,300,823 (A) 336 37 34Genting Berhad 30% 30% 41

A.2.1 A.2.144 62 3.21 Heah Sieu Lay 10% 42

13.1813.21 750,000,000 500,000,000 250,000,000477,100,000 51% (a) NCLC NCLC24,800,000 (b) 255,000,000 (c) 4,000,000 (d) 25,000,000 (e) 50,000,000 (f) NCLCNCLC Apollo 100,000,000 NCLC 50,000,000 (e) 50,000,000 43

(I) A.2.1 A. A.1? A.1.1 A.1.2 A.1.3 14 14 A.1.4 A.1.5 44

(I) A. A.1? A.1.6 A.1.7 A.1.8 45

(I) A. A.2? A.2.1 A.2.2 A.2.3 46

(I) A. A.3? A.3.1 47

(I) A. A.4? A.4.1 Heah Sieu Lay Heah Sieu Lay A.4.2 48

(I) A. A.5? A.5.1 A.5.2 (a) (b) (c) (d) A.5.3 49

(I) A. A.5? A.5.4 Heah Sieu Lay A.6? A.6.1 A.6.2 A.6.3 50

(I) B. B.1? B.1.1 B.1.2 B.1.3 (III)(B)(2) B.1.4 B.1.5 51

(I) C. C.1? C.1.1 C.1.2 (i) (ii) (iii) C.1.3 52

(I) C. C.2? C.2.1 (II) C.3? C.3.1 C.3.2 (a) (b) C.3.3 (III)(D)(2) 53

(I) C. C.3? C.3.4 C.3.5 C.3.6 D. D.1? D.1.1 D.1.2 (i) (ii) (iii) (iv) (v) (vi) 54

(I) D. D.2? D.2.1 D.2.2 E. E.1? E.1.1 E.1.2 55

(I) E. E.2? E.2.1 E.2.2 E.2.3 (a) (b) 56

(II) (A) (B) (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) 57

(II) (B) (12) (13) (C) (III) (A) (1) 7/7 6/7 7/7 David Colin Sinclair Veitch1 2/3 7/7 6/7 7/7 Heah Sieu Lay2 6/6 1. 2. 58

(III) (B) (1) 2/2 2/2 2/2 1/1 (2) (a) (b) (c) (d) (e) (f) (g) (h) (3) (a) (b) (c) 10,000,000David Colin Sinclair Veitch (4) (5) 59

(III) (C) (1) (2) Heah Sieu LayDavid Colin Sinclair Veitch (3) (a) (b) (c) Heah Sieu Lay (d) (e) Heah Sieu Lay Heah Sieu Lay (f) David Colin Sinclair Veitch (D) (1) Heah Sieu Lay 1/1 2/2 1/2 2/2 60

(III) (D) (2) (a) (b) (c) (d) (e) (d) (i) (ii) (f) (g) (h) (i) (j) (k) (l) (m) 61

(III) (D) (3) (a) (b) (c) (d) (e) 34 (f) (g) (h) (E) 600,000 1,100,000100,0001,000,000 62

5 436,587 2,576,240 (306,923) (1,898,262) (79,495) (350,301) 9 (65,802) (243,058) 6 (99,873) (5,165) (552,093) (2,496,786) (115,506) 79,454 3,233 4,482 7 (28,610) (234,295) 18 (104,098) 19 1,454 (907) 8 146,525 (44,840) 18,504 (275,560) 9 (97,002) (196,106) 10 (3,528) (4,780) (100,530) (200,886) (79,510) (200,806) (21,020) (80) (100,530) (200,886) 11 (1.07) (2.77) 11 (1.07) * * 63

14 590,994 31 35 43 15 708,167 5,200,573 119 135 16 254,156 289,554 17 2,340,841 2,919,986 18 694,055 19 287,428 1,682 20 2,771 61,708 2,557 3,262 1,946,612 6,144,554 2,343,517 2,923,383 21 5,363 49,066 22 9,142 20,156 23 302,142 62,399 3,600 2,625 29 1,953 1,375 24 112,147 149,086 111 2,915 428,794 284,035 3,711 5,540 25 192,659 621,453 284,035 3,711 5,540 2,568,065 6,428,589 2,347,228 2,928,923 64

26 742,625 742,625 742,625 742,625 1,495,033 1,495,033 1,495,033 1,495,033 98,803 94,450 97,023 91,045 28 4,391 4,391 (22,233) (18,102) (4,415) (342) (4,415) (92) (3,412) (713) (3,480) (2,014) (419,869) (344,750) (465,709) 117,468 1,886,532 1,972,592 1,861,077 2,448,456 45,760 66,780 1,932,292 2,039,372 1,861,077 2,448,456 27 466,959 3,322,888 427,485 345,000 29 3,031 2,996 3,031 2,996 30 4,801 31 254 38 470,244 3,330,723 430,516 347,996 32 25,475 121,414 3,046 1,562 33 70,193 275,388 4,327 10,326 27 54,043 312,020 49,657 120,848 29 1,651 1,297 1,651 1,297 34 672 571 10,449 346,242 165,529 1,058,494 55,635 132,471 635,773 4,389,217 486,151 480,467 2,568,065 6,428,589 2,347,228 2,928,923 455,924 (774,459) (51,924) (126,931) 2,402,536 5,370,095 2,291,593 2,796,452 65

(a) 38,424 337,819 (31,278) (209,348) 1,037 4,567 (1,514) (3,692) 6,669 129,346 (b) (40,291) 14,686 (c) (206,619) (79,513) (674,867) 160,353 105,336 (b) 196,860 1,250 10,000 (285,962) NCL (b) (55,997) (107,992) 166,696 7,523 (7,523) (93,300) (702,760) 66

308,060 1,109,925 (189,558) (835,964) (65,938) 83,629 1,048 (98,843) (268) (8,193) (181) (1,599) 50,697 251,421 (1,005) 3,918 (36,939) (318,075) 149,086 467,161 24 112,147 149,086 580 139,704 10,009 149,713 67

(a) (97,002) (196,106) 60,676 228,856 5,126 14,202 65,802 243,058 28,610 234,295 (3,233) (4,482) (10,000) 99,873 5,165 104,098 (1,454) 907 (80,786) 92,024 (54,719) (2,594) (53,749) (235) (3,802) 2,332 (3,828) 53,286 310,888 3,550 1,108 1,706 (10,615) (1,313) 1,513 27 1,173 (7,224) (17,860) (8,718) 26,642 101 670 (2,991) 24,300 38,424 337,819 68

(b) Apollo Management L.P.Apollo1,000,000,000 NCL Corporation Ltd. NCLCNCLC NCLC 42,595 41,997 40,291 590,994 4,175,086 61,322 (3,169,060) (4,801) (291,509) (332,802) 1,154,113 (2,104) (813,432) 80,786 419,363 NCLC (196,860) NCL 55,997 NCLC (278,500) (40,291) (40,291) 69

(b) Laem Chabang Cruise Centre Co., Ltd.LCCC100% 14,700,000LCCC 14,476 780 375 381 (322) 15,690 (2,341) 1,337 14,686 (c) New Orisol Investments LimitedNew OrisolMacau Land Investment CorporationMLIC75%MLIC 200,600,000 MLIC 357 3 287,270 1,360 (21,550) 267,440 (66,860) 200,580 200,580 6,396 (357) 206,619 70

742,625 1,495,033 94,450 4,391 (18,102 ) (342 ) (713 ) (344,750) 1,972,592 66,780 2,039,372 (4,131 ) (4,131 ) (4,131) (4,246 ) (4,246 ) (4,246) 2,780 2,780 2,780 (1,579 ) 125 (650 ) (2,104 ) (2,104) (46 ) 125 (583 ) (504 ) (504) (1,625 ) (4,131 ) 250 (2,699 ) (8,205 ) (8,205) (79,510) (79,510 ) (21,020 ) (100,530) (1,625 ) (4,131 ) 250 (2,699 ) (79,510) (87,715 ) (21,020 ) (108,735) 6,060 (6,060) 1,655 1,655 1,655 (82 ) 82 (4,391) 4,391 742,625 1,495,033 98,803 (22,233 ) (4,415) (3,412 ) (419,869) 1,886,532 45,760 1,932,292 71

678,439 1,324,829 94,513 14,400 (22,522) (818 ) (1,598) (143,944 ) 1,943,299 1,943,299 4,420 4,420 4,420 3,469 3,469 3,469 (2,584) (2,584 ) (2,584 ) 4,420 885 5,305 5,305 (200,806 ) (200,806 ) (80 ) (200,886 ) 4,420 885 (200,806 ) (195,501 ) (80 ) (195,581 ) 395 653 1,048 1,048 25,500 49,086 74,586 74,586 9,043 9,043 9,043 38,291 111,422 (10,009 ) 139,704 139,704 66,860 66,860 413 413 413 (63 ) 63 742,625 1,495,033 94,450 4,391 (18,102) (342 ) (713 ) (344,750 ) 1,972,592 66,780 2,039,372 72

1 1 742,625 1,495,033 91,045 4,391 (92) (2,014) 117,468 2,448,456 (4,246) (4,246) 2,780 2,780 (1,466) (1,466) (587,568) 2 (587,568) (1,466) (587,568) (589,034) 1,655 1,655 6,060 (6,060) (82) 82 (4,391) 4,391 742,625 1,495,033 97,023 (4,415) (3,480) (465,709) 1,861,077 678,439 1,324,829 91,108 14,400 (296) (81) 169,542 2,277,941 (1,257) (1,257) (676) (676) (1,933) (1,933) (52,074) 2 (52,074) (1,933) (52,074) (54,007) 395 653 1,048 25,500 49,086 74,586 9,043 9,043 38,291 111,422 (10,009) 139,704 141 141 (63) 63 742,625 1,495,033 91,045 4,391 (92) (2,014) 117,468 2,448,456 1. 2. 587,600,00052,100,000 73

1. Quotation and Execution System for Trading Canon s Court, 22 Victoria Street, Hamilton, HM 12, Bermuda Apollo Management, L.P.Apollo1,000,000,000 NCLC NCLC NCLCNCLC ApolloNCLC NCLCNCLC Apollo 100,000,000 NCLC 50,000,000 50,000,000 NCLC NCLC 2. (a) 4 HK(IFRIC) 112 74

2. (a) (i) 8 14 131 8 (ii) 1 ) 1 (iii) 23 (iv) 27 27 (v) 321- (vi) 1 27 27 75

2. (a) (vii) 2 2 (viii) 3 3 (ix) HK(IFRIC) 16 HK(IFRIC) 16 21HK(IFRIC) 16 (x) HK(IFRIC) 13 HK(IRFIC) -13 (xi) 5 (b) (i) 76

2. (b) (i) 21 (ii) (iii) 20% 50% (iv) (c) 77

2. (c) (d) (i) (ii) (iii) (e) 39 (f) 16 (g) 78

2. (h) (i) (j) (k) (l) 79

2. (m) (n) (o) (i) 12 (j) (n) 12 (ii) 80

2. (o) (ii) (n) (p) (q) (i) (ii) 81

2. (q) (iii) (a) (b) (r) 15 30 20 50 3 20 82

2. (r) (x) (s) (t) (u) (v) 83

2. (w) (x) (y) (z) 84

2. (aa) (ab) 3. (a) (i) 5% 222 308 (ii) 85

3. (a) (iii) 25,000,000 50,000,000 50,000,000 NCLC 54,043 54,043 341,329 71,587 1,153 989 391 25,475 61,087 303,558 248,680 1,325,752 1,748,456 1,333 371 361 121,414 268,756 86

3. (a) (iii) 6,283 6,283 6,283 6,000 6,000 6,000 6,899 6,293 12,586 6,500 6,000 12,000 (iv) 5,210 27,594 (v) 87

3. (b) NCLC 27 521,002 3,634,908 24 (112,147) (149,086) 408,855 3,485,822 1,932,292 2,039,372 2,341,147 5,525,194 17% 63% (c) (i) (ii) 88

3. (c) 2912 12 (i) (ii) (iii) 4. (a) 700,000,0005,200,000,000 15 89

4. (b) 16 (c) (d) 37 90

5. 152,694 152,694 52,615 52,615 217,298 217,298 13,980 13,980 422,607 13,980 436,587 (10,744) (4,889) (15,633) (4,316) (95,557) (99,873) (15,060) (100,446) (115,506) 3,233 (28,610) (104,098) 1,454 146,525 (97,002) (3,528) (100,530) 2,084,354 291,052 2,375,406 192,659 2,568,065 83,296 28,429 111,725 477,142 43,860 521,002 560,438 72,289 632,727 3,046 635,773 20,998 75,611 96,609 60,965 4,837 65,802 91

5. NCLC20,400,000 1,707,826 560,314 308,100 2,576,240 84,619 (5,165) 79,454 4,482 (234,295) (907) (44,840) (196,106) (4,780) (200,886) 6,060,485 368,104 6,428,589 752,747 3,634,908 4,387,655 1,562 4,389,217 956,570 243,058 92

5. NCLC 452,500 1,199,436 385,065 1 1,873,010 4,861,049 571,505 250,730 2,576,240 6,060,485 956,570 368,104 6,428,589 1. 6. 23,409 2,565 77,714 (1,250) (5,400) 8,000 99,873 5,165 101,100,000 1,300,0001,300,000 Oceanic2,800,000 8,000,000 93

7. 1,569 18,329 250,000,000 182 1,489 23,171 183,682 250,000,000 3,688 34,960 781 28,610 239,241 (4,946) 28,610 234,295 2,800,000 700,000) 8. (i) 54,719 2,594 307 3,697 (72) 105 806 (9,340) (92,024) (ii) 80,786 RWS (iii) 53,749 NCLC 10,000 (21) (3,621) 146,525 (44,840) (i) (ii) (iii) 162,000,00053,100,000 69,000,000 2,700,000 80,800,000Apollo NCLC NCLC100%50% 255,000,000Resorts World at Sentosa Pte. Ltd.RWS25% 53,700,000 94

9. 65,802 243,058 60,676 228,856 5,126 14,202 12 95,867 584,395 64,262 238,574 4,956 12,981 11,131 13,510 610 1,212 8,455 96,078 6 99,873 5,165 (3,500) 10. 2,292 3,589 274 (127) 2,566 3,462 1,009 917 (47) 401 3,528 4,780 31 227 274 95

10. (97,002) (196,106) 56 (87,501) (75) (243) 664 32,065 (446) (17) 2,203 58,598 164 560 962 1,318 3,528 4,780 11. (79,510) (200,806) 7,426,246 7,252,052 (1.07) (2.77) (79,510) (200,806) 7,426,246 7,252,052 8,584 7,426,246 7,260,636 (1.07) * * 96

12. 92,231 551,450 134 793 413 1,104 355 22,685 1,148 117 1,586 8,246 95,867 584,395 13. (a) 12 1,296 7 4 1,319 356 1,675 51 51 51 12 569 166 22 769 76 845 12 304 140 2 458 75 533 David Colin Sinclair Veitch 10,000 (b) 10,000 44 44 44 48 48 48 Heah Sieu Lay 28 28 28 207 2,169 313 28 2,717 10,000 507 13,224 97

13. (a) 12 1,249 260 7 4 1,532 113 1,645 55 55 55 12 570 95 158 18 853 13 866 12 303 81 55 2 453 9 462 David Colin Sinclair Veitch 12 1,497 103 193 1,805 1,178 161 3,144 49 49 49 52 52 52 204 3,619 539 413 24 4,799 1,178 296 6,273 (a) (b) 34(g) 36 36 3,399 5,528 29 23 10,000 1,246 1,391 304 14,855 7,137 4 3 98

13. 4,000,0014,500,000 1 5,500,0016,000,000 2 6,500,0017,000,000 1 1 12,500,00113,000,000 1 13,000,00113,500,000 1 14,000,00114,500,000 1 24,500,00125,000,000 1 77,500,00178,000,000 1 14. 368,104 222,890 590,994 (1,250) (1,250) 6 1,250 1,250 (368,104) (222,890) (590,994) 368,104 230,890 598,994 6 (8,000) (8,000) 368,104 222,890 590,994 99

15. 5,724,328 81,554 299,954 154,890 29,890 6,290,616 (216) (2,692) (694) (3,602) 10,652 265 10,917 2,223 19,241 11,478 15,198 1 48,140 (28) (125) (153) (96,709) (2,044) (98,753) (4,495,922) (19,740) (137,896) (154,890) (26,262) (4,834,710) (272,447) (11,867) (284,314) (3,714) (3,714) 868,195 78,335 159,071 18,826 1,124,427 (910,419) (20,332) (159,292) (1,090,043) 43 416 585 1,044 (54,551) (2,628) (8,623) (65,802) (22,632) (2,057) (777) (25,466) 28 117 145 10,734 1,849 12,583 584,252 8,614 66,758 659,624 83,342 8,313 91,655 (309,231) (15,959) (91,070) (416,260) 558,964 62,376 68,001 18,826 708,167 1. 6,800,00016(ii) 100

15. 5,255,484 69,829 280,190 198,294 28,947 5,832,744 288 3,693 1,299 5,280 576,097 7,445 16,644 (576,097) (24,089) 89,821 1,033 16,716 532,693 29,037 669,300 (905) (446) (5,770) (7,121) (196,457) (9,125) (4,005) (209,587) 5,724,328 81,554 299,954 154,890 29,890 6,290,616 (811,522) (17,135) (141,040) (969,697) (87) (884) (1,185) (2,156) (211,582) (2,759) (28,717) (243,058) 5,400 (2,565) 2,835 905 446 5,752 7,103 106,467 5,898 2,565 114,930 (910,419) (20,332) (159,292) (1,090,043) 4,813,909 61,222 140,662 154,890 29,890 5,200,573 600,000,000 5,100,000,000 101

15. 6,508 150 17 150 167 150 (15) (33) (15) (48) (15) 119 135 102

16. 1,070 1,135 253,086 288,419 254,156 289,554 289,554 2,259 (i) 48,469 (ii) 287,270 (8,159) (46) (75,657) (51) 71 254,156 289,554 (i) 2541,600,000 (ii) 25 103

17. 1,838,317 1,838,317 (549,981) 1,288,336 1,838,317 1,193,313 1,081,914 (140,808) (245) 2,340,841 2,919,986 38 18. 798,627 (104,068) (504) 694,055 % NCL Corporation Ltd. 2,442,726 1,748,671 1,053,201 (104,068) 50 Genting Management 724 789 55 (67)* 64 Services, Inc.GMS WorldCard International 497 898 518 37* 50 LimitedWCIL 2,443,947 1,750,358 1,053,774 (104,098) * GMS WCIL 30,000108,000 GMS WCILGMS WCIL 104

19. 5,860 285,962 107,992 1,466 (905) (112,947) 287,428 % Travellers International 143,129 575 2,000 1,466 42.6 Hotel Group, Inc. Travellers Cruise City Holdings 18 118 58 (12)* 30 LimitedCruise City 143,147 693 2,058 1,454 * Cruise City12,0002,000Cruise City Cruise City 20. 2,616 44,277 2,557 3,262 5,883 155 11,548 2,771 61,708 2,557 3,262 105

21. 1,994 18,279 3,369 30,787 5,363 49,066 22. 9,620 23,412 (478) (3,256) 9,142 20,156 30 3,054 11,352 3160 2,111 4,458 61120 1,719 2,461 121180 160 1,266 181360 994 3,150 360 1,582 725 9,620 23,412 45 106

22. 4,440 6,161 1,901 3,709 1,679 1,574 398 177 7,369 27 510 520 833 9,142 20,156 (3,256) (3,163) 2,684 70 (2,527) 24 2,434 (478) (3,256) 6,100,0008,800,000 107

23. 17,942 62,399 1,133 2,625 NCL 34(e) 55,997 228,203 2,467 302,142 62,399 3,600 2,625 NCLC 293,800,000 NCL 56,000,000 NCLC34(e) 24. 3,890 48,400 2,803 108,257 100,686 111 112 112,147 149,086 111 2,915 45,362 31,796 24 50 30,402 70,013 3 21,572 23,469 87 2,796 5,713 3,317 2,157 1,777 1,318 5,346 217 3,964 66 5,406 9,404 112,147 149,086 111 2,915 108

24. 1.3 3.0 2.1 25 6 2 25. 192,700,000 26. 0.10 0.10 10,000 1 14,999,990,000 1,499,999 10,000 1 9,999,990,000 999,999 5,000,000,000 500,000 10,000 1 14,999,990,000 1,499,999 0.10 7,426,245,846 742,625 6,784,386,135 678,439 3,951,569 395 (i) 255,000,000 25,500 382,908,142 38,291 7,426,245,846 742,625 109

26. (i) 2.290.29255,000,0000.10 74,600,0000.280.04 255,000,000255,000,000 3.000.39 255,000,000 (ii) 2571.080.1388 1,484,084,4670.10 204,100,000 1.500.19 27. 750,000,000 477,142 402,500 477,142 402,500 340,000,000 43,860 298,000,000 278,092 334,100,000 270,218 308,100,000 381,713 800,000,000 605,000 624,000,000 880,146 610,000,000 490,000 250,000,000 250,000 28 63,348 63,348 13,891 521,002 3,634,908 477,142 465,848 (54,043) (312,020) (49,657) (120,848) 466,959 3,322,888 427,485 345,000 110

27. 477,142 2,373,049 477,142 465,848 1,261,859 43,860 521,002 3,634,908 477,142 465,848 340,000,000 864,900,000 520,000,000 3,630,000,000 480,000,000 470,000,000 12% 31%88% 69% 62,900,000268,600,000 54,043 312,020 49,657 120,848 54,043 248,680 49,657 57,500 341,329 1,325,752 328,171 172,500 71,587 1,748,456 49,657 115,000 521,002 3,634,908 477,142 465,848 111

27. 62,900,000268,600,000 458,165 2,490,782 414,305 133,922 63,348 63,348 13,890 798,310 458,165 3,366,330 414,305 197,270 4.1 6.4 4.1 6.7 3.6 5.7 250,000,000 10.6 7.4 7.4 28. 180,000,0002 100%2 3.18 7.7431.00 0.41 2.53 5.55 125% 180,000,00010% 112

28. 120.136% 180,000,000125,100,000 180,000 180,000 (4,391) (4,391) (10,009) (10,009) (14,400) (14,400) 165,600 165,600 37,452 30,942 3,688 8,382 (12,150) (1,872) (139,704) (139,704) (54,886) 63,348 63,100,000 7.7 7.4 29. (a) 113

29. (b) 521,002 3,634,908 477,142 465,848 509,272 3,659,056 464,844 465,608 (c) (i) 430,400,00049,600,000 2,300,000 (ii) 5.5 140,800,000 13,300,0005.5 100,000 114

29. (c) (iii) 8,900,000 7,100,000 1,600,000 (iv) 206,700,000 18,000,000 900,000 30. 959 2,290 1,552 4,801 115

31. 38 295 (7) (1) 223 (256) 254 38 254 38 43 573 (4) (4) (530) 35 43 35 43 213,000,000195,000,000 116

32. 60 20,665 113,463 61120 1,337 3,584 121180 675 701 180 2,798 3,666 25,475 121,414 45 17,583 109,843 5,288 5,279 1,587 1,301 1,170 632 778 765 671 1,992 25,475 121,414 117

33. 6,710 48,822 3,159 50,668 3,030 9,276 9,106 6,632 51,218 169,266 1,297 1,050 70,193 275,388 4,327 10,326 6,632 6,632 13,447 13,447 (4,341) (4,341) (6,632) (6,632) 9,106 9,106 9,100,000 118

34. Golden Hope LimitedGolden Hope Unit TrustGolden Hope Unit TrustGZ Trust Corporation Kien Huat Development Sdn BhdKHD Genting BerhadGBBursa Malaysia Securities BerhadBursa Malaysia Bursa MalaysiaResorts World BhdRWBRWB Resorts World Limited RWLGB Genting International PLCGIPLC WorldCard International LimitedWCIL GIPLC50% WCIL37,000 108,000 WCILWCIL139,000WCIL (a) KHD KHD 47,000381,000 (b) GB GB GB 2,630,0002,431,000 (c) GIPLCGIPLC16,000 (d) WCILWorldCard WorldCard WorldCard WorldCard WorldCard RWB 119

34. (d) GB 1,202 410 GB 268 263 (e) NCLC Apollo NCL NCLA NCLA NCLA NCLC85,000,000 56,000,000 NCLANCLA NCLC 56,000,000NCLC 196,900,000 NCLANCLA (f) NCLC 12,500,000 (g) Colin Veitch10,000,000 Colin Veitch (h) Macau Land Investment CorporationMLIC1,800,000 (i) GIPLCRWS 25% 255,000,000 RWS 25% GIPLCRWS RWS53,700,000 120

34. (j) New Orisol Investments Limited GIPLC 75%GIPLC25%MLIC 58,500,000GIPLC 25%New Orisol New OrisolGIPLC MLIC (k) (l) (m) 0.25240.3953 2.81420.361.62020.211.78000.23 (n) 5,964 11,498 54 1,582 10,000 1,585 346 17,603 13,426 121

35. (i) 2,239,609 25,446 25,446 2,239,609 335,000,000 Travellers50% Travellers 42.6%285,000,00050,000,000 (ii) 1,900,00012,400,000 2,966 8,351 2,331 23,750 7,588 30,433 12,885 62,534 (iii) 14,500,000 12,600,000 14,700,0008,000,000 NCLC12,500,000 5,200,000 122

35. (iv) Ocean Dream Limited 21,800,000 36. (i) GIPLCGenting InternationalGIPLC GIPLC Star Cruises Investments Limited 5% 3,000,000(0.2%) 123

36. (i) 55 50% 20% 30% 10% 1 124

36. (i) 0.3068 14,078 0.3074 (5,350) 0.3065 8,728 0.3119 22,121 0.2624 (2,362) 0.3450 (5,681) 0.3068 14,078 0.2524 5,424 0.5 5,047 0.3953 3,304 0.5 2,948 8,728 0.5 7,995 125

36. (ii) 132,733,953 3.2% 1.8% 1% 1% (a) 0.1% (b) 5,000,000 126

36. (ii) 1 (a) (b)(c) 35,540,000 (i)(ii) 20% 30% 20%10% 127

36. (ii) 2.6663 83,134 1.7800 35,540 2.8009 (11,941) 2.3561 106,733 2.6579 85,977 2.0990 (1,590) 2.8114 (1,253) 2.6663 83,134 2.8142 61,048 3.6 55,462 1.6202 10,295 5.6 10,295 1.7800 35,390 9.0 106,733 5.6 65,757 128

37. NCLC NCLCNCLC NCLC401(k) 401(k)401(k)NCLC 100% NCLC3% 100%7% 50% 6.5% NCLC NCLC 401(k)NCLC NCLC 220,00040,000 NCLC NCLC 9,500,0005% 5% NCLC NCLC4,200,000 NCLC 129

38. Star Cruises Asia 158,032 100.00 Holding Ltd. Star NCLC Holdings Ltd. 10 100.00 Star Cruise Management (1) 2,000 100.00 Limited Cruise Properties Limited 197,600 100.00 Inter-Ocean Limited (2) 52,000 100.00 Star Cruise (2) 52,000 100.00 Services Limited Superstar Virgo Limited (2) 25,000 100.00 44,850 100.00 8,000 100.00 10,000 100.00 140 100.00 100 75.00 Keen Impact 0.002 75.00 International Limited (1) (2) 130

39. (a) NCLC NCLC24,800,000 (b) 255,000,000 (c) 4,000,000 (d) 25,000,000 (e) 50,000,000 (f) NCLCNCLC Apollo 100,000,000 NCLC 50,000,000 (e) 50,000,000 40. 131

63131 90 132

436,587 2,576,240 2,343,055 1,967,353 1,699,007 (15,633) 84,619 95,452 145,937 134,827 (99,873) (5,165) (30,600) (1,400) (14,500) (115,506) 79,454 64,852 144,537 120,327 3,233 4,482 6,670 8,484 2,985 (28,610) (234,295) (200,944) (155,930) (110,005) (104,098) 1,454 (907) (82) (5,219) 146,525 (44,840) (26,556) 28,675 (23,920) (97,002) (196,106) (156,060) 20,547 (10,613) (3,528) (4,780) (136) (2,641) (971) (100,530) (200,886) (156,196) 17,906 (11,584) (79,510) (200,806) (156,196) 17,906 (11,584) (21,020) (80) (100,530) (200,886) (156,196) 17,906 (11,584) (1.07) (2.77) (2.76) 0.32 (0.21) (1.07) * * 0.32 * 2,568,065 6,428,589 6,139,675 5,410,879 4,985,113 (635,773) (4,389,217) (4,196,376) (3,510,998) (3,159,603) 1,932,292 2,039,372 1,943,299 1,899,881 1,825,510 * 133

1. Porto Malai,, 2930 137,962 96,123 90 J, 12,817 8,930 PT 740 2. Porto Malai,, 2931 40,462 90 J, 3,759 PT 741 3. Pulau Indah, PT 78146 252,728 292,888 99 T Pelabuhan Klang 23,479 27,210,, PT 64547 4. Pulau Indah, PT 78147 270,489 99 T Pelabuhan Klang 25,129,, PT 64548 5. Pulau Indah, PT 63807 262,103 104,050 99 J Pelabuhan Klang 24,350 9,666.5,, 6. Kijal, Kemaman, PT 4580 65,122 8,124 30 J, 6,050 754.75 7. 39 219 364.8 50 O 1750 200040 8. 75034 4,220 40 O/H 9. 8,100 25 H/C A 134

10. 15,164.49 25 R Sub-condominium E 132 132 23204-V 23204-II i. 1 8100%910 75% ii. J T O H C R 135

5 1501 (852) 2378 2000 (852) 2314 3809 Level 8, 401 Sussex Street 2000 NSW (61) 2 9212 6288 (61) 2 9212 6188 1 12 1203 100004 (86) 10 6505 6223 (86) 10 6505 6221 9 4001-02 (86) 20 3811 6388 (86) 20 3811 6488 1750200040 (86) 21 5228 0101 (86) 21 3218 1998 101, Parvati Industrial Estate Sun Mill Compound Lower Parel (W) 400 013 (91) 22 4345 5100 (91) 22 4345 5111 212, Rectangle-1, D4, Saket District Centre, Saket -110 017 (91) 11 2956 1831/32/33 (91) 11 2956 1834 Wisma Nusantara 8th Floor, JI. MH Thamrin No. 59, 10350 (62) 21 3190 1978 (62) 21 3190 2782 8F Palazzo Siena 2-4-6 Higashi Shinbashi Minato-ku 105-0021 (81) 3 6403 5188 (81) 3 6403 5189 21st Floor, Wisma Genting, 28 Jalan Sultan Ismail, 50250 (60) 3 2302 8888 (60) 3 2302 8000 Pulau Indah, Pelabuhan Barat, 42009 Pelabuhan Klang, (60) 3 3101 1313 (60) 3 3101 1406 5th Floor Star Cruises Centre, 100 Andrews Avenue, Newport Pasay City, Metro 1309 (63) 2 836 6830 (63) 2 836 6835 911-08 238459 (65) 6226 1168 (65) 6220 6993 Star Cruises AB, Vasagatan 15-17, SE-111 20 (46) 8 615 4340 (46) 8 615 4349 106 4 230 11 A (886) 2 2781 9968 (886) 2 2781 9978 W3, Suite 513, Dubai Airport Free Zone, P.O. Box 26527 (971) 4 299 5556/60 (971) 4 299 7600 NORWEGIAN CRUISE LINE Norwegian Cruise Line, 7665 Corporate Center Drive 33126 1-800-327-9020 (1) 305 436 4000 (1) 305 436 4126 136

* Sept-Isles * * * * * * * * * * * * * * * * * **