139 139 139 HOLDINGS LIMITED 139 * 139 72154 155 56 48 *
.................................................................. 1.............................................................. 5......................................................... 7................................................ 24.................................................. 24.................................................. 24............................................. 24................................................ 28.................................... 29............................. 33.................................... 35.................................................... 36........................ 37......................................................... 37......................................................... 37......................................... 38............................................ 102................................ 123................................................... 137................................................... 148.................................................... 154 i
2,000,000,000 2,000,000,000 139139 500,000,000Walterford 250,000,000 308 1
Findco Enterprises Findco Enterprises Limited 10% 2,000,000,000 2,000,000,000 2
60,500,000 2,000,000,000 2,000,000,000 1 3 4 Walterford Walterford 100% 571 3
0.01 420,000,000 Walterford Findco Enterprises Walterford Walterford Company Limited % 4
139 HOLDINGS LIMITED 139 * Clarendon House 2 Church Street Hamilton HM 11 Bermuda 39 1603-5 Walterford Walterford 500,000,000Walterford Findco Enterprises 500,000,000 * 5
(i) Findco Enterprises 100%Walterford (ii) 25,000,000 Walterford14 25,000,000Walterford (iii) 30,000,000 (iv) Walterford (v) 35 (i)(ii) 3 (vi) (i)34 (ii) Walterford20 Walterford Walterford 6
(vii) 30,000,000 500,000,000(i)250,000,000 25,000,000Walterford (ii) 250,000,000 Walterford (1) (2) Findco Enterprises 10% 7
(i) (ii) 420,000,000 420,000,000 100% 100% 100% Findco Enterprises 90% 10% 1 Findco Enterprises 8
100% Walterford 100% 2 500,000,000 (i) 250,000,000 25,000,000Walterford 25,000,000 (ii) 250,000,000 225,000,000 25,000,000 198,600,000 26,400,000 228,300,000 11.6%22 1%34%22 0.001%4.700% 154,700,000 2 30,000,000 9
25.7 (i) (ii)(iii) (iv)(a) 45.5 (b) 62.4 (c) 90.0 (25.0) 198.6 (a) 650,000 580,000 133,000 1,400,000 2,763,000 (i)(ii) (iii) (b) 2,000,000,000 62,400,000 (c) 90,000,000 30,000,000 3.5%60,000,000 5% 10
Walterford 1,200,000 46,800,00064,700,000 198,600,000 228,300,000 225,000,000 90,000,000 111,900,000 2,000,000,000 62,400,000 2,000,000,000 63,000,000 30,000,00060,000,000 (i) (ii)(iii) 11
90,000,000 500,000,000470,000,000 30,000,000 520,000,000 490,000,000 520,000,000 500,000,000 60,500,000420,000,000480,500,000 500,000,000 4.1% 470,000,000 520,000,000 520,000,000 470,000,000 10.6% 20,100,000 500,000,000 24.9 8 12
78 31/12/2004 5,593,404,695 8.99 602,900,000 45 31/12/2004 11,179,301,313 19.30 574,000,000 308 31/12/2004 10,493,930,777 10.61 901,654,000 242 31/12/2004 14,872,187,616 28.81 503,197,000 71 31/3/2004 6,753,605,648 26.98 250,328,000 1221 30/6/2004 4,315,086,880 44.56 95,522,218 69 31/12/2004 28,049,887,183 24.73 141,486,000 51 31/12/2004 4,095,000,000 16.33 250,700,000 22.74 www.hkex.com.hk www.etnet.com.hk328 24.9 9.5% 13
250,000,000 3.5% 0.10 (a) (b) (c) (d) (e) (f) 14
(g) (h) () 90 (i) (ii) (iii) (A-B)/AA 15
B (iv) (v) 90% 16
(vi) 90% (vii) (i)0.036 177.8% (ii) 0.0366 173.2% (iii) 0.024 316.7% (iv) 0.0264 278.8% (v) 0.0245 308.2%(vi) 0.0242 313.2% 0.10250,000,000 2,500,000,000 22.1% 18.1% 17
0.1 0.036 5.75%3.5% 3.5% 60,000,000,0000.01 600,000 600,000 11,332,430,4789,332,430,478 0.01 113,324 93,324 2,000,000,0000.032 2,000,000,000 0.01 64,000,000 62,400,000 18
9,332,430,478 93,324 267,600 360,924 2,000,000,000 2,000,000,000 20,000 42,400 62,400 11,332,430,478 113,324 310,000 423,324 2,000,000,000 20,000 43,040 63,040 13,332,430,478 133,324 353,040 486,364 2,500,000,000 25,000 225,000 250,000 15,832,430,478 158,324 578,040 736,364 : 2% 4% 19
20 (i)2% 4%(ii)5% 10% 208 5 20
: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 21
(a) Walterford (b) (c) 22
(d) 35 (i) (ii) 3 (e) (f) Walterford (g) (a)walterford (i) 34 (ii) Walterford20 (b) (g) (a) (b) (g) Walterford 23
Findco Enterprises 10% 100%1%10,000 9,700Grand Tour & Travel99% 199 155 24
267,472 350 78% 69% 74% OK 1,300,00014,900,000 48,743 34,590 34,402 14,877 14,406 15,968 1,266 891 2,212 64,886 49,887 52,582 23,879 10,983 9,160 20,115 9,425 7,784 540,521 494,285 529,770 (480,027) (482,551) (498,816) (420,047) (431,137) (444,328) (394,186) (415,716) (426,622) 60,494 11,734 30,954 25
394,200,000 420,000,000 2.7% 5.7% 80%78% 3% 52,700,000 52,600,000100,000 529,800,000498,800,000 7,300,0003,600,000 426,600,000 16,600,000 9% 13.8% 26
52,600,000 49,900,000 1,600,000 1,300,000 9,200,000 11,000,00013.8% 9.8% 2.7% 50,100,000 49,900,000200,0004.9% 494,300,000482,600,000 5,800,0003,500,000 415,700,000 16,600,000 16,900,000 30.4% 113.4% 30.4% 5%49,900,000 64,900,000 27
11,000,00023,900,000 65,000,000 64,900,000100,000 29.7% 540,500,000 480,000,000 5,900,000 2,500,000394,200,000 28,600,000 (iv) (iv) (iv) (iv) % % % % (ii) 212,990,000 1.88 212,990,000 1.60 212,990,000 1.54% 212,990,000 1.35 (ii) 212,990,000 1.88 212,990,000 1.60 212,990,000 1.54% 212,990,000 1.35 (ii) 212,990,000 1.88 212,990,000 1.60 212,990,000 1.54% 212,990,000 1.35 (iii) 2,500,000,000 18.07% 2,500,000,000 15.79 (v) 10,693,460,478 94.36 10,693,460,478 80.20 10,693,460,478 77.31% 10,693,460,478 67.54 (i) 2,000,000,000 15.00 2,000,000,000 12.62 11,332,430,478 100.00 13,332,430,478 100.00 13,832,430,478 100.00% 15,832,430,478 100.00 28
(i) 2,000,000,000 (ii) (iii) (iv) (v) 250,000,000 2,000,000,000 1,200,000 9,332,430,478 0.013 100% 9,332,430,478 1,300,0000.014 0.1 13,832,430,478 2,000,000,0000.009 29
235,800,00010,000,000 228,400,000 225,800,000 710,100,000419,300,000 1.17 0.17 0.17 90,000,000540,800,000 1.17340,000,000 290,800,000 290,800,000296,400,000 228,400,000 9,332,430,478 0.0245 225,800,000 9,332,430,478 0.0242 11,332,430,478 290,800,000 0.0257 13,832,430,478 0.0391540,800,000 11,332,430,4780.0257 30
11,332,430,47813,832,430,478 0.02620.0395 60,500,000 420,000,000 503,800,000200,000 302.5 225,000,000 25,000,000(i) 198,600,000(ii)26,400,000 228,300,000 123 136 80,300,0001,300,000 15,400,0001,200,000 27,800,000 10,500,000 9,200,000 8,700,0002,300,000 31
6,600,000 9,332,430,478 9,332,430,478 13,832,430,478 11,332,430,478 1.2 (2.6) 1.3 1.3 0.01 (0.03) 0.009 0.011 242.5 235.8 710.1 710.1 14.1 10 169.3 419.3 17.14 23.51 4.19 1.69 228.4 225.8 540.8 290.8 0.0245 0.0242 0.0391 0.0257 228.4 225.8 546.4 296.4 0.0245 0.0242 0.0395 0.0262 0 0 0.17 1.17 198,600,000 228,300,000 225,000,000 90,000,000 111,900,000 12 32
60,000,000 33
34
20,100,000 11,900,000 39.5% 16,600,000 75.6%11.3% 35
72 154155 48 56 36
79 (i) (ii) (iii) (iv) 37
(A) 15,410 97,429 133,665 4,930 8,522 (20,527) (72,048) (105,319) (8,451) (11,089) (5,117) 25,381 28,346 (3,521) (2,567) 1,995 4,972 14,866 3,165 1,185 (684) (8,800) (8,573) (219) (338) (17,681) (35,714) (40,041) (7,389) (7,321) (4,871) (17,159) (41,717) (77) (87) 5,943 (8,000) (12,000) (1,761) (21,231) 8,001 22,789 15,830 29,597 (7,530) 8,388 (17,272) 62,975 1,478 (62,138) (42,730) (2,524) 69,677 (274) (4,270) (5,566) (90) (136) 1,204 (66,408) (48,296) (2,614) 69,541 1,600 1,420 1,204 (64,808) (46,876) (2,614) 69,541 110 31 1,204 (64,698) (46,845) (2,614) 69,541 0.01 (0.75) (0.60) (0.03) 0.81 38
8,263 12,703 44,221 6,050 1,202 10,500 18,000 8,160 8,263 23,203 71,583 6,050 181,298 166,606 111,880 158,694 10,500 50,000 4,395 3,594 40,795 3,197 728 581 66,006 32 5,165 4,031 5,918 6,850 6,534 6,493 13,082 6,547 25,650 21,191 48,797 54,430 234,270 202,496 336,478 229,750 1,683 2,750 34,266 842 363 363 355 363 7,734 7,329 16,796 7,773 4,368 7,820 92,964 1,051 1,600 14,148 18,262 145,981 10,029 220,122 184,234 190,497 219,721 228,385 207,437 262,080 255,771 110 228,385 207,437 261,970 225,771 93,324 86,194 86,194 93,324 135,061 121,243 175,776 132,447 228,385 207,437 261,970 225,771 39
(B) 5 15,410 12,596 6 84,833 15,410 97,429 (20,527) (72,048) (5,117) 25,381 5 1,995 4,972 (684) (8,800) (17,681) (35,714) (4,871) (17,159) 6, 28(a) 5,943 (8,000) (1,761) (21,231) 29,597 (7,530) 7 1,478 (62,138) 8 (274) (4,270) 1,204 (72,649) 6 6,241 1,204 (66,408) 11 1,600 6 1,600 1,204 (64,808) 110 12 1,204 (64,698) 13 0.01 (0.75) 40
14 8,263 12,703 18 10,500 16 8,263 23,203 16 181,298 166,606 18 10,500 19 4,395 3,594 20 728 581 5,165 4,031 21 6,534 6,493 21 25,650 21,191 234,270 202,496 22 1,683 2,750 363 363 7,734 7,329 23 4,368 7,820 14,148 18,262 220,122 184,234 228,385 207,437 25 93,324 86,194 27(a) 135,061 121,243 41 228,385 207,437
86,194 259,399 (9,623) 556 449,820 (1,161) (521,615) 263,570 12 15 (4,400) 2,800 (1,600) 86,194 259,399 (14,023) 556 449,820 (1,161) (518,815) 261,970 (638) 1,193 555 15 9,610 9,610 (64,698) (64,698) 86,194 259,399 (4,413) 556 449,182 32 (583,513) 207,437 25 7,130 8,201 15,331 15 4,413 4,413 1,204 1,204 93,324 267,600* 556* 449,182* 32* (582,309)* 228,385 * 135,061,000 121,243,000 42
1,204 (66,408) 5 (921) (3,224) 8 274 4,270 6 (5,943) 7 4,631 7,872 7 195 5, 7 15 (32) 7 4,413 9,610 7 121 1,761 21,231 (29,597) 7,530 8,000 7 3,321 7 3,368 (18,220) (10,089) (147) (9,430) (801) 10,316 (2,012) (1,505) (1,067) (7,537) 405 11,648 (4,838) (21,842) (11,435) (274) (4,270) (22,116) (13,025) (2,680) (22,116) (15,705) 43
(3,500) 14 (208) (1,435) 2 50 50,000 7,500 (85,331) (153,990) 98,475 70,503 28(a) 4,929 1,799 1,796 14,737 (25,268) 1,121 14,737 (24,147) 4,583 (205) 25 15,331 15,331 (116) 4,494 15,331 4,378 7,952 (35,474) 19,864 55,338 27,816 19,864 44
21 20,214 1,731 21 5,436 19,460 21 6,534 6,493 (4,368) (7,820) 27,816 19,864 45
14 28 111 17 17 30,332 28 30,443 17 205,630 197,210 732 732 21 10,094 3,075 216,456 201,017 354 354 742 794 17 28,502 22,875 29,598 24,023 186,858 176,994 186,886 207,437 25 93,324 86,194 27(b) 93,562 121,243 186,886 207,437 46
1. 13939 16 1603-5 2. 12 12 11 24 3 24 3. 47
30 30 30 30 48
50 3 7 10 3 5 49
50
51
52
(a) (b) (c) (d) 53
4. (i)(ii) (a) (b) (c) (d) 6 54
(a) 15,410 12,596 84,833 15,410 97,429 17 6 85 108 15,410 12,613 6 84,918 15,410 97,537 (14,848 ) (23,592 ) (218 ) (8,984 ) (12,459 ) (13,791 ) 4,111 (27,525 ) (42,256 ) 5,943 31,592 4,864 (2,589 ) (30,689 ) 1,478 (62,138 ) (274 ) (4,270 ) 1,204 (66,408 ) 1,600 1,204 (64,808 ) 110 1,204 (64,698 ) 55
13,835 17,226 5 5 19,553 5,336 33,393 22,567 209,140 203,132 242,533 225,699 6,590 7,483 901 701 1,678 1,652 9,169 9,836 4,979 8,426 14,148 18,262 4,439 4,544 33 188 302 2,990 4,627 7,869 4 3 4,631 7,872 4,413 9,400 210 4,413 9,610 158 2,138 8,438 746 3,819 158 15,141 1,761 28,762 1,919 43,903 203 852 5 138 4,212 208 5,202 56
(b) 84,833 15,410 12,596 15,410 97,429 91 17 108 84,924 15,410 12,613 15,410 97,537 32,674 21,995 719 572 33,393 22,567 209,140 203,132 242,533 225,699 208 5,202 208 5,202 5. 15,410 12,596 84,833 15,410 97,429 921 3,224 1,074 1,716 1,995 4,940 32 1,995 4,972 57
6. 17,000,000 Chaifa Holdings (B.V.I.) Limited 28(a) 4 28(a) 84,833 (52,802) 32,031 190 (8,026) (15,682) (4,297) 5,943 10,159 (3,918) 6,241 6,241 58
7. * 13,501 58,809 14 4,631 7,872 195 15 ** 15 4,413 9,610 121 3,321 3,368 9 10,516 24,419 *** 584 618 11,100 25,037 1,351 2,584 700 980 143 137 * 4,153,000 11,595,000 ** *** 59
8. 274 4,256 14 274 4,270 9. 161 2,160 300 300 300 2,460 3,250 3,400 163 48 3,413 3,448 3,713 5,908 1,000,000 7 6 1,500,0012,000,000 1 7 7 60
2,160,000 10. 9 650 650 33 13 683 663 11. 16%17.5% 24 1,600 1,600 61
6,680 (5,476) 1,204 (1,169) 1,807* 638 (310) (310) 349 349 (916) (916) 1,736 1,736 (1,497) (1,497) (52,957) (13,451) (66,408) 9,267 4,439* 13,706 (1,612) (1,612) 1,046 1,046 (3,844) (3,844) (6,469) (1,227) (7,696) 1,600 1,600 * 33% 62
12. 35,882,000 56,133,00027(b) 13. 1,204,000 64,698,000 8,697,505,1368,619,360,478 14. 13,238 821 427 13,686 5,018 33,190 5 203 208 (172) (172) 13,238 821 427 13,691 5,049 33,226 7,357 821 421 8,635 3,253 20,487 1,892 6 1,973 760 4,631 (155) (155) 9,249 821 427 10,608 3,858 24,963 3,989 3,083 1,191 8,263 5,881 6 5,051 1,765 12,703 63
57,000 5% 96,000 92,000 299 415 714 299 304 603 83 83 299 387 686 28 28 111 111 64
15. 30 49,062 44,649 4,413 49,062 4,413 Sino Electronics LimitedSE17 12 2 SE 4,400,000 24 4,400,000SE13,813,000 4,413,000 12 4,400,000 4,400,000 9,610,000 65
4,413,000 16. 90,000 90,000 (90,000) (90,000) 26,200 177,283 136,549 4,015 3,857 181,298 166,606 171,675,000 188,536,000 4,015,000 3,857,000 23 66
17. 505,705 497,416 (300,075) (269,874) 205,630 227,542 (205,630) (197,210) 30,332 30,332,000 Hoshing Limited 100 1 Sino Electronics Limited 100 2 100 2 100 + 13,675,000 67
139 Enterprises 100 Limited 2 Chaifa Finance Limited 100 2 Main Purpose 100 Investments Limited 1 + 18. 7 0.028642,857,000 0.031 0.034 10,500 10,500 (10,500) 10,500 68
19. 2,716 1,563 1,187 1,222 492 809 4,395 3,594 1,096,000 1,345,000 20. 0 120 719 581 121210 9 728 581 69
21. 20,214 1,731 10,094 73 11,970 25,953 3,002 32,184 27,684 10,094 3,075 23 (6,534) (6,493) 25,650 21,191 10,094 3,075 279,000 30,000 22. 0 120 1,601 2,547 121210 77 197 210 5 6 1,683 2,750 23. (a) (b) 6,534,000 6,493,00021 4,015,000 3,857,00016 70
24. 12 1,600 1,600 11 (1,600) 161,080,000 171,920,000 12 2 SE4,400,000 2,800,000 1,600,000 4,400,000 15 2,800,000 71
25. 60,000,000,000 0.01 600,000 600,000 9,332,430,4788,619,360,478 0.01 93,324 86,194 713,070,0000.021515,331,000 713,070,000 0.01 8,619,360,478 86,194 259,399 345,593 713,070,000 7,130 8,201 15,331 9,332,430,478 93,324 267,600 360,924 26 26. 72
80% 10% 25% 40 1 17 10%861,936,04710% 1% 0.1% 5,000,000 73
1 i ii (iii) 861,936,047 9.24% * ** *** *** #2,400,000 (2,400,000 ) #0.1888 0.155 212,990,000 (212,990,000 ) 0.0215 0.026 0.031 212,990,000 (212,990,000 ) 0.0215 0.026 0.031 212,990,000 (212,990,000 ) 0.0215 0.026 0.031 641,370,000 (2,400,000 ) (638,970,000 ) 80,100,000 (6,000,000 ) (74,100,000 ) 0.0215 0.026 0.031 721,470,000 (8,400,000 ) (713,070,000 ) 74
* ** *** # 713,070,00015,331,000713,070,000 25 27. (a) 42 15 448,992,000 448,992,000 75
(b) 259,399 556 492,681 (575,260) 177,376 (56,133) (56,133) 259,399 556 492,681 (631,393) 121,243 25 8,201 8,201 (35,882) (35,882) 267,600 556 492,681 (667,275) 93,562 (a) (a)448,992,000 76
28. (a) 25,135 4,702 160 26,764 71,534 8 1,452 11,195 1,639 (23,979) (21,115) (87,303) 10,192 310 555 * 6 5,943 17,000 17,000 * 77
17,000 (310) (1,639) (11,195) 1,073 4,929 84,833,000 6,241,000 (b) 267,000 29. 1,440 919 142 673 1,582 1,592 57,0005% 101,000134,000 78
30. 29 1,513,000 31. 109 12,997 32. (a) (b) (c) 54,740,000 270,000 12,997,000 79
33. 2 34. 80
(C) 2 4,930 8,522 (8,451) (11,089) (3,521) (2,567) 3 3,165 1,185 (219) (338) (7,389) (7,321) (77) (87) 22,789 15,830 (17,272) 62,975 4 (2,524) 69,677 5 (90) (136) (2,614) 69,541 6 (2,614) 69,541 7 8 (0.03) 0.81 81
6,050 8,263 9 6,050 8,263 9 158,694 181,298 10,500 10 3,197 4,395 11 32 728 6,850 5,165 6,547 6,534 54,430 25,650 229,750 234,270 12 842 1,683 363 363 7,773 7,734 1,051 4,368 10,029 14,148 219,721 220,122 225,771 228,385 13 93,324 93,324 132,447 135,061 225,771 228,385 82
93,324 267,600* 556* 449,182* 32* (582,309)* 228,385 (2,614 ) (2,614 ) 93,324 267,600* 556* 449,182* 32* (584,923)* 225,771 86,194 259,399 (4,413 ) 556 449,182 32 (583,513 ) 207,437 69,541 69,541 86,194 259,399* (4,413)* 556* 449,182* 32* (513,972)* 276,978 * 132,447,000135,061,000 83
(6,464) (10,219) 38,574 27,906 32,110 17,687 27,816 19,864 59,926 37,551 9,982 4,215 44,448 32,827 6,547 6,523 (1,051) (6,014) 59,926 37,551 84
1. 25 16 2. (i) 4,930 8,522 4,930 8,522 4,930 8,522 4,930 8,522 (5,320) (4,859) (5,690) (5,141) (11,010) (10,000) 25,954 79,990 (17,468) (313) (2,524) 69,677 (90) (136) (2,614) 69,541 (2,614) 69,541 85
(ii) 4,930 8,522 4,930 8,522 4,930 8,522 4,930 8,522 (5,690) (5,141) (5,320) (4,859) (11,010) (10,000) 3. 271 538 2,894 647 3,165 1,185 4. 2,259 2,325 86
5. 90 136 6. 7. 8. 2,614,000 69,541,0009,332,430,478 8,619,360,478 87
9. 90,000 90,000 (90,000) (90,000) 154,682 177,283 4,012 4,015 158,694 181,298 200,665,000 171,675,000 10. 2,634 2,716 223 1,187 340 492 3,197 4,395 366,000 1,096,000 88
11. 120 719 121210 24 9 210 8 32 728 12. 120 603 1,601 121210 193 77 210 46 5 842 1,683 89
13. 0.01 60,000,000 600,000 0.01 9,332,430 93,324 14. 90
24,000,000 15% 134,000,000 230,000,00083%48,000,000 12% 105,000,000 36% 25,000,000 6,000,000 91
230,000,000 83%48,000,000 57,000,00028%264,000,0001.7 2.3 49,000,000 93,000,000 93,000,000 51,000,00051,000,000 30,000,000 34,000,000 22% 27%57,000,000 56,000,000264,000,000 207,000,000 92
0.031,197,000,000 19.99%34,900,000 0.0251,436,560,000 19.99%34,900,000 23,000,000 13,000,000 1,01549 966 36,000,000 27% 97,000,000 14,000,00028% 62,000,000 93
17,000,000Chaifa Holdings (B.V.I.) Limited 5,900,000 56% 12,000,000 6,000,00019,000,000 5,000,000 2,000,00012,000,000 94
14,000,00062,000,000 207,000,000 264,000,000 21,000,00049,000,000 8,000,000 93,000,000 13,000,00030,000,000 4% 35%8,000,000 93,000,000207,000,000 264,000,000 95
10,500,000 166,600,000 21,200,000 7,500,000 4,500,000 6,000,0003,900,000 Chaifa Holdings (B.V.I.) Limited 21926 193 82,000,000 84% 15,000,000 1,200,000 65,000,000 96
30,000,000 3,000,000 22% 15,000,000 4,000,000 2,000,00015% 10,000,000 IC 1,200,00065,000,000 228,000,000 207,000,000 97
26,000,00021,000,000 4,000,000 8,000,000 13,000,000 100,000 2% 4% 4,000,000 8,000,000228,000,000 207,000,000 10,500,000 181,200,000 1,700,000 29,500,000 1,900,000 98
7,000,000 6,000,000 4,000,000 3,900,000 21425 189 3,600,000 42% 4,900,000 2,600,000 69,500,000 17,200,00022,800,000 3,600,000 42% 4,900,000 5,300,000 99
2,600,000 69,500,000 225,800,000228,400,000 54,400,00025,700,000 1,100,000 4,400,000 0.5% 1.9% 1,100,000 4,400,000225,800,000 228,400,000 158,700,000 3,200,000 100
6,500,0004,000,000 1092485 101
8 18 139 Walterford Company LimitedWalterford ) Findco Enterprises Limited Walterford ( ) 200,000200,000 1 102
1. 394,186,000 2. 103
20% - 33 1 /3% 20% 104
20 105
106
(a) (b) 107
108
3. (a) 52,582 49,887 64,886 (26,297) (22,363) (24,834) 26,285 27,524 40,052 (a) 74 190 127 (17,199) (16,731) (16,300) (c) 9,160 10,983 23,879 (e) (1,376) (1,558) (3,764) 7,784 9,425 20,115 (f) (a) 109
34,402 34,590 48,743 15,968 14,406 14,877 2,212 891 1,266 52,582 49,887 64,886 62 76 75 12 59 52 74 135 127 55 74 190 127 (b) (c) 23,152 20,654 20,635 150 150 150 856 478 498 22,404 19,781 21,731 18 16 18 * 22,422 19,797 21,749 96 48 32 (8) (55) 410 110
* 16,640,00013,857,000 16,209,000 (d) 706 753 696 706 753 696 1,000,000 633 714 1,362 2 2 6 635 716 1,368 1,000,000 (e) 15.75% 2,340 4(g) 1,376 1,558 1,424 1,376 1,558 3,764 111
9,160 10,983 23,879 15.75% 1,443 1,729 3,761 (67) (171) 3 1,376 1,558 3,764 (f) (g) 112
4. (a) 503,675 469,752 503,761 (b) 10 10 10 503,685 469,762 503,771 (c) 828 780 970 (d) 7,295 5,773 5,853 779 584 1,301 (e) 23 (e) 532 470 9 16,628 16,916 28,617 26,085 24,523 36,750 (f) 3,559 3,507 2,511 2,340 4,820 5,595 6,038 (e) 444,328 431,137 420,047 452,707 440,239 430,936 (426,622) (415,716) (394,186) 77,063 54,046 109,585 (g) 46,109 42,312 49,091 30,954 11,734 60,494 (h) 194 194 194 30,760 11,540 60,300 30,954 11,734 60,494 113
(a) 453,597 14,030 28,198 1,792 11,276 508,893 83 83 (4) (22) (26) 4,121 (4,121) 25,000 25,000 478,593 4,121 9,909 28,259 1,792 11,276 533,950 54 154 347 555 (86) (317) (403) (34,000) (34,000) 444,647 4,121 9,909 28,327 1,822 11,276 500,102 74 434 508 (157) (157) 34,000 34,000 478,721 4,121 9,909 28,604 1,822 11,276 534,453 28,259 1,792 11,276 41,327 4,121 9,909 14,030 478,593 478,593 478,593 4,121 9,909 28,259 1,792 11,276 533,950 28,327 1,822 11,276 41,425 4,121 9,909 14,030 444,647 444,647 444,647 4,121 9,909 28,327 1,822 11,276 500,102 28,604 1,822 11,276 41,702 4,121 9,909 14,030 478,721 478,721 478,721 4,121 9,909 28,604 1,822 11,276 534,453 27,649 1,792 29,441 317 323 216 856 (22) (22) 317 323 27,843 1,792 30,275 215 211 52 478 (86) (317) (403) 317 538 27,968 1,527 30,350 215 214 69 498 (156) (156) 317 753 28,026 1,596 30,692 478,721 3,804 9,156 578 226 11,276 503,761 444,647 3,804 9,371 359 295 11,276 469,752 478,593 3,804 9,586 416 11,276 503,675 114
(b) 10 10 10 (c) 475 483 596 353 297 374 828 780 970 (d) 115
30 2,942 3,354 3,616 31 60 2,692 1,905 2,175 61 90 992 514 62 90 669 7,295 5,773 5,853 (e) (f) 30 2,569 2,116 1,444 31 60 990 1,368 1,002 60 23 65 3,559 3,507 2,511 116
(g) 28,003 13,518 (726) 40,795 1,388 (12) 1,376 3,938 3,938 29,391 17,456 (738) 46,109 1,382 176 1,558 (5,355) (5,355) 30,773 12,101 (562) 42,312 862 562 1,424 5,355 5,355 31,635 17,456 49,091 (h) 200,000 1 194 194 194 117
5. 194 71,269 1,042 (70,397) 2,108 7,784 7,784 4(a) 25,000 25,000 4(g) (3,938) (3,938) 194 92,331* 1,042* (62,613)* 30,954 9,425 9,425 4(a) (34,000) (34,000) 4(g) 5,355 5,355 194 63,686* 1,042* (53,188)* 11,734 20,115 20,115 4(a) 34,000 34,000 4(g) (5,355) (5,355) 194 92,331* 1,042* (33,073)* 60,494 * 30,760,00011,540,00060,300,000 935,000 118
6. 9,160 10,983 23,879 856 478 498 (55) 410 1 10,016 11,406 24,788 134 48 (190) 1,125 1,522 (490) (264) 195 (717) (23) 23 637 62 461 (301) (52) (996) 1,108 775 443 (2,182) (191) 910 10,250 13,788 24,209 (83) (555) (508) 4 55 (79) (500) (508) (13,000) (12,000) (13,000) (12,000) 10,171 288 11,701 6,457 16,628 16,916 16,628 16,916 28,617 16,628 16,916 28,617 119
7. 48 8 14 12 60 8 14 8. 1,154 469 133 1,756 120
9. (i) 10,018 9,992 13,772 Grand Tour and Travel Service Company Limited (i) 5 17 74 Macau CTS Passenger Road Transport Company Limited (ii) 15 CTS (HK & Macau Tour) Limited (i) 2,085 37 (i) 25 CTS International Travel Limited (i) 139 3 (iii) (48) (16) (i) (ii) (iii) 121
10. 11. 139 122
8 18 139 123136 4080 102122 1B 13429 123
1998/8 124
(a) (b) (c) 429(1) 126135 139 125
I. (1) (2) 8,263 503,761 33,023 5 545,047 82,716 1 (82,716) 5,7 10 10 (5,600) 5,7 (5,600) 8,263 503,771 539,457 181,298 (74,713) 3 106,585 10,500 10,500 4,395 970 5,365 728 5,853 6,581 5,165 1,301 6,466 6,534 6,534 420,047 6 (420,047) 5 9 9 25,650 28,617 (162,763) 1,4 62,400 2 74,713 3 28,617 234,270 36,750 170,657 (1,683) (2,511) (4,194) (363) (2,340) (2,703) (7,734) (6,038) (13,772) (30,000) 4 (30,000) (420,047) 420,047 1,6 (420,047) 6 420,047 5 (4,368) (4,368) (14,148) (430,936) (55,037) 126
220,122 (394,186) 115,620 228,385 109,585 655,077 (250,000) 1 (250,000) (60,000) 4 (60,000) (49,091) (5,201) 5 (54,292) (49,091) (364,292) 228,385 60,494 290,785 228,385 60,494 62,400 2 (60,494) 5 290,785 1. 500,000,000420,047,000 2,763,000250,000,000 250,000,000 2,763,000 650,000 580,000 133,000 1,400,000 2,763,000 2. 2,000,000,00062,400,000 3. 74,713,000 4(1) 2 250,000,0002,763,000 4. (1) 90,000,000 30,000,00060,000,000 3.55 127
(2) 250,000,000 2,763,000 5. (i)(ii) (iii) 502,957,000 535,980,00033,023,000(iv) 5,201,000(v) 5,600,0007 6. 420,047,000 7. 128
II. (1) (2) 129
15,410 64,886 80,296 (20,527) (24,834) (45,361) (5,117) 40,052 34,935 1,995 127 2,122 187 1 187 (684) (684) (17,681) (16,300) (2,273) 2 (36,254) (4,871) (4,871) (1,761) (1,761) 29,597 29,597 1,478 23,879 23,271 (274) (17,975) 3 (18,249) 1,204 23,879 5,022 (3,764) (3,764) 1,204 20,115 1,258 1. 5,600,000 30 2. 3. 90,000,000250,000,000 130
III. (1) (2) 1,204 23,879 (20,248) 6,7 187 9 5,022 4,631 498 5,129 (921) (921) 274 17,975 6 18,249 15 15 4,413 4,413 (187) 9 (187) 410 410 1,761 1,761 (29,597) (29,597) 1 1 (18,220) 24,788 4,295 (801) (190) (991) (147) (490) (637) 131
(2,012) (717) (2,729) 461 461 (1,067) (996) (2,063) 405 443 848 910 910 (21,842) 24,209 94 (274) (17,975) 7 (18,249) (22,116) 24,209 (18,155) (252,763) 3,4 (252,763) (208) (508) (716) 2 2 98,475 74,713 2 173,188 (85,331) (85,331) 1,799 1,799 14,737 (508) (163,821) (12,000) (12,000) 90,000 5 90,000 15,331 64,000 1 79,331 (1,600) 1 (1,600) 15,331 (12,000) 155,731 132
7,952 11,701 (26,245) 19,864 16,916 36,780 27,816 28,617 10,535 20,214 28,617 (40,462) 8 8,369 5,436 (5,436) 8 6,534 6,534 (4,368) (4,368) 27,816 28,617 10,535 1. 2,000,000,000 62,400,000 1,600,000 2. 74,713,000 3. 250,000,000 4. 2,763,000 5. 90,000,000 6. 90,000,000250,000,000 17,975,000 7. 2,273,000 8. 1 7 9. 133
IV. (a) 2,000,000,000 (b) 2,000,000,000( (c) 2,000,000,000 (a) 2,000,000,000 1 228,385 62,400 290,785 0.0257 (b) 2,000,000,000 1 2 3 290,785 5,600 296,385 0.0262 134
(c) 2,000,000,000 4 2 3 290,785 5,600 250,000 546,385 0.0395 1. 11,332,430,4789,332,430,478 2,000,000,000 2. 3. 5 4. 13,832,430,4789,332,430,478 2,000,000,000 0.10 2,500,000,000 135
12 420,011,000 6,582,000 30,000,000 60,000,000 136
139 Walterford Company LimitedWalterford 137
138
139
1.061 12 139 39 1603-5 Sandra S.W. Lau Bsc MFin MRICS MHKIS RPS(GP) MFin MHKIS AAPI RPS(GP) Sandra S.W. Lau 140
1. 520,000,000 199 2. 9,180,000 3 A-H 4 A-H 3. 6,800,000 183 3 14 A B H 535,980,000 4. 535,980,000 141
1. 199 26 14 520,000,000 226 1 25 OK3 525 355 267,472.08 25 1. 2. 3. 4. 142
2. 3 A-H 4 A-H 3 48 16 15,920 9,180,000 3A 737 3B 737 3C 1,061 3D 1,069 3E 1,113 3F 1,113 3G 1,069 3H 1,061 4A 737 4B 737 4C 1,061 4D 1,069 4E 1,113 4F 1,113 4G 1,069 4H 1,061 15,920 25 1. 2. 3. 143
3. 183 3 14 A B H 3 463 11 143 2,238.62 6,800,000 14A 760.41 14B 709.19 14H 769.02 2,238.62 25 1. 2. 3. 144
4. 3 3 4,600.27 5,006.45 3,765.28 2,012.90 3 1. { Dong Fu Ji Yong (1989) 1900202010663Dong Fu Ji Yong (1989) 1900202010664 } 2. {01529780152979 } 3. 2,130,000 3,045,000 2,099,000 145
4. 4.1 4.2 4.3 146
183 3 A-H 3 199 4 A-H 14 A B H 1 489,997 7,429 5,531 5 2 (44) (10) 3 489,997 7,385 5,521 4 30,003 1,795 1,279 520,000 9,180 6,800 1 3,989 2 473 3 2,099 6 (2,099) 0 1. (a) 2. 3. 4. IV30,003,0001,795,000 1,279,000 5. (a) 5,531,000 1,727,000 3,804,000 6. 147
XV(a) XV78 (b)352(c) 212,990,000 1.88% 212,990,000 1.88% 212,990,000 1.88% (i) (a) XV78 148
(b) 352 (c) (ii) (iii) XV23 10% 927,820,000 8.19% a Dollar Group Limited 662,474,000 5.85% b 149
Coupeville Limited 662,474,000 5.85% b 662,474,000 5.85% b a. Winning Horsee Limited b. Dollar Group LimitedCoupeville LimitedCoupeville Limited Coupeville LimitedDollar Group Limited662,474,000 XV23 10% 150
(a) (b) (c) (d) 151
(a) Clarendon House, 2 Church Street, Hamilton HM 11, Bermuda (b) 39 1603-05 (c) (d) 56 (e) 39 1603-05 (a) (b) (c) 152
(d) (e) (f) (g) (h) (i) (j) 1414A (k) 153
139 HOLDINGS LIMITED 139 * 139 139 72 1. (a) Findco Enterprises Limited Walterford Company Limited A (b) 2. (a) 250,000,000 B * 154
(b) 0.01 139 Clarendon House 2 Church Street 39 Hamilton HM 11 Bermuda 1603-5 1. 2. 48 56 3. 155