Dec 11, 2021 | Business
, 650,000 shares were repurchased at an average purchase price of 643.70, representing a total amount of 418.4 million.
It has been decided that 325,000 shares purchased under this first tranche will be cancelled. The remainder of the repurchased shares will be allocated to free share grant programs to employees.
About Kering
A global Luxury group, Kering manages the development of a series of renowned Houses in Fashion, Leather Goods, Jewelry and Watches: Gucci, Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, Brioni, Boucheron, Pomellato, DoDo, Qeelin, Ulysse Nardin, Girard-Perregaux, as well as Kering Eyewear. By placing creativity at the heart of its strategy, Kering enables its Houses to set new limits in terms of their creative expression while crafting tomorrows Luxury in a sustainable and responsible way. We capture these beliefs in our signature: Empowering Imagination.In 2020, Kering had over 38,000 employees and revenue of 13.1 billion.
www.kering.com
Twitter: @KeringGroup
LinkedIn: Kering
Instagram: @kering_official
YouTube: KeringGroup
Nov 6, 2021 | Business
IWS Group Holdings Limited (“IWS Group”, together with its subsidiaries, the “Group”, HKEX: 8441), the largest public security services provider in the public sector in Hong Kong and an established facility services provider, has announced its unaudited interim results for the six months ended 30 September 2021 (the “review period”). Despite the COVID-19 outbreak and the unstable economic and social environment in Hong Kong, the Group delivered satisfying performance with demand for its security and facility management services growing consistently.
As a result, the Group’s revenue increased by 45.6% to HK$252.7 million. Excluding the non-recurring listing expenses for the proposed transfer of listing from GEM to the Main Board incurred in the review period and government grant income recognised during the six months ended 30 September 2020, the adjusted profit and total comprehensive income of IWS Group, reflective of its real business performance, surged by 83.9% to HK$38.9 million. Its net profit margin for the review period went up by 3.2 percentage points to 15.4%.
Business Review
Revenue from the security services segment increased by 49.6% to HK$238.1 million in the review period, primarily due to:
(i) Security guarding services provided for the three-runway system project at the Hong Kong International Airport brought in revenue of over HK$13.0 million,
(ii) Revenue of not less than HK$1.3 million from the provision of security guarding services to a bus company,
(iii) The approximately HK$70.4 million increase in revenue from COVID-19 detection support services, and
(iv) Revenue of approximately HK$11.0 million from a Hong Kong railway corporation for the provision of station assistant services.
Revenue from facility management services remained largely stable, with a 0.9% increase to HK$14.6 million.
Outlook
Looking ahead, the Group will expand the scope of its security services business, enhance its capability in providing facility management services, improve operational efficiency and scalability, and selectively pursue strategic acquisition and investment opportunities, all for achieving the goal of becoming the leading integrated facility management services provider in Hong Kong.
Mr MA Ah Muk, Chairman and Executive Director of IWS Group, said, “We are glad to see the Group enjoying greater public recognition and an improved profile after its GEM Listing in 2019 What’s more, we have also achieved steady business growth with revenue, profit and margins too all up amid challenges from COVID. We are considering transferring listing to the Main Board for it would give us an even stronger status in the eyes of investors, institutional and retail, and greater financing flexibility and bargaining power with suppliers and business associates, plus competitiveness in attracting and retaining talent for growing our business and in turn boosting shareholder value in the future. Given our solid business reputation and well-trained staff, we see more business opportunities coming our way. We will keep strengthening our industry leadership and competitiveness in recruiting and retaining talent, to the ultimate end of creating greater value for shareholders.”
About IWS Group Holdings Limited (HKEX: 8441)
IWS Group Holdings Limited is the largest public security services provider in the public sector in Hong Kong1 and an established facility services provider specialising in the provision of security services and facility management services across public and private sectors in Hong Kong. The Group has over 10 years of experience in providing security services at railway stations and facilities, sea, land and railway immigration control points and public amenities as well as crowd coordination and management services at various large-scale events and emergency and critical incidents in Hong Kong. The Group has been listed on GEM since 22 October 2019.
Topic: Press release summary
Oct 14, 2021 | International
Ottawa, ON – The Government of Canada is committed to renewing its relationship with Indigenous peoples. To this end, Fisheries and Oceans Canada (DFO) continues to work with First Nations across the Maritimes and the Gaspé region of Quebec on the ongoing implementation of their Treaty right to fish in pursuit of a moderate livelihood while maintaining a sustainable fishery for all harvesters.
October 13, 2021
Ottawa, ON – The Government of Canada is committed to renewing its relationship with Indigenous peoples. To this end, Fisheries and Oceans Canada (DFO) continues to work with First Nations across the Maritimes and the Gaspé region of Quebec on the ongoing implementation of their Treaty right to fish in pursuit of a moderate livelihood while maintaining a sustainable fishery for all harvesters.
Building on the success of a previous understanding reached with Potlotek First Nation, DFO has reached an interim understanding that will see Bear River and Annapolis Valley First Nations members fishing lobster in pursuit of a moderate livelihood during the established seasons in Lobster Fishing Areas (LFAs) 33, 34 and 35. LFA 35 opens Thursday (Oct. 14) and LFAs 33 and 34 open November 29. This interim understanding with two Mi’kmaw communities in or adjacent to the Kespukwitk District will operationalize the Kespukwitk Netukulimk Livelihood Fisheries Management Plan and permit the sale of lobster.
Bear River and Annapolis Valley First Nations will designate members from their communities who are authorized to harvest under the Kespukwitk Netukulimk Livelihood Fisheries Management Plan for lobster, which they jointly developed. Acadia and Glooscap First Nations also participated in the development of this Management Plan and may request their communities take part in fishing this season under this understanding at a later date.
In acknowledging that this is an interim measure, the department is committed to continuing consultations with First Nations to further implement their rights-based fisheries and provide for stable, predictable, and sustainable fishing for all harvesters.
“This understanding will see Bear River and Annapolis Valley First Nations fishing in pursuit of a moderate livelihood. It respects the vision and needs of each community, aligns with DFO’s regulatory framework, and will ensure a sustainable, stable fishery for all. This is a positive step forward, and one that we are proud to take in partnership.”
The Honourable Bernadette Jordan, Minister of Fisheries, Oceans and the Canadian Coast Guard
Aug 27, 2021 | Business
Tai Hing Group Holdings Limited (“Tai Hing Group” or the “Group”; stock code: 6811), a multi-brand casual dining restaurant group with roots in Hong Kong and a network of more than 220 restaurants in Hong Kong, Mainland China, Macau, and Taiwan, has just announced its interim results for the six months ended 30 June 2021 (“1H2021” or the “Review Period”).
RESULTS HIGHLIGHTS
— Revenue increased by 16.4% to HK$1,532.7 million in 1H2021 (1H2020: HK$1,316.9 million) though both markets in Hong Kong and Mainland China still saw challenges in the first half of the year
Revenue from major operations in Hong Kong, Macau and Taiwan up 3.7% to HK$1,177.1 million
Mainland China delivered a strong revenue rebound to HK$355.6 million, increased by 96.0%
— Gross profit and gross profit margin improved to HK$1,100.9 million (1H2020: HK$928.4 million) and 71.8% (1H2020: 70.5%) respectively
— Profit for the period attributable to owners of the Company increased significantly by 297.9% to HK$33.4 million in 1H2021 (1H2020: HK$8.4 million)
— Recommended an interim dividend of HK2.50 cents per share (1H2020: HK1.30 cents per share), representing a dividend payout ratio of 75%
— “Men Wah Bing Teng” recorded a significant 63.4% revenue growth, while “Asam Chicken Rice” achieved an impressive revenue growth of 873.2%
During 1H2021, the Group was able to record satisfactory overall revenue with a year-on-year increase of 16.4% to reach HK$1,532.7 million (1H2020: HK$1,316.9 million). Gross profit and gross profit margin improved to HK$1,100.9 million (1H2020: HK$928.4 million) and 71.8% (1H2020: 70.5%) respectively. Profit attributable to owners of the Company increased 297.9% to HK$33.4 million (1H2020: HK$8.4 million). Basic earnings per share were HK3.34 cents (1H2020: HK0.84 cents). The outbreak of the COVID-19 was largely brought under control during the Review Period with market confidence and consumption sentiment gradually restored. Although the market still faced continued uncertainty, the Group has been well-equipped with extensive experience in coping with the negative impacts of the pandemic and thus delivered satisfactory financial results during the Review Period.
In addition, the Group’s financial position remains positive, with sufficient cash and a healthy operating cash flow that has enabled it to fuel further growth. As at 30 June 2021, the Group had cash and cash equivalents of HK$518.5 million (as at 31 Dec 2020: HK$562.1 million).
To share the Group’s achievements with Shareholders, the Board has declared the payment of an interim dividend of HK2.50 cents per share (1H2020: HK1.30 cents per share) for the six months ended 30 June 2021, representing a dividend payout ratio of 75%.
Business Review
As at 30 June 2021, the Group has a network of 223 restaurants spanning across Hong Kong, Mainland China, Macau, and Taiwan, under 14 casual dining brands.
High-growth “Men Wah Bing Teng” and “Asam Chicken Rice” continued to outperform the market
The “Men Wah Bing Teng” brand continued to serve as one of the major catalysts boosting the Group’s sales. Having outperformed the market in 1H2021, the business achieved significant revenue growth of 63.4% to HK$345.0 million (1H2020: HK$211.2 million). It was also the Group’s second-largest revenue contributor, accounting for 22.5% of the total revenue. In light of the brand’s impressive sales revenue, the Group opened six new stores in both Hong Kong and Mainland China in 1H2021. In order to maintain its pace of growth, the Group will exert further efforts in the promotion of “Men Wah Bing Teng” in the Greater Bay Area as well as other potential markets.
With regard to the “Asam Chicken Rice’ brand, it was another fast-growing revenue contributor, with impressive revenue growth of 873.2% to HK$57.4 million (1H2020: HK$5.9 million) and same-store sales growth reaching a high single-digit. During the Review Period, the Group opened five new ‘Asam Chicken Rice” restaurants – hence a total of 11 branches in Hong Kong. By in large, the new branches received favourable market response during the Review Period, which led to a ninefold increase in revenue when compared with that of 1H2020. The profitability of “Asam Chicken Rice” was also more competitive owing primarily to less manpower required in the kitchen and more universal menu options.
As the Group’s signature brand, “Tai Hing” is a well-recognised name in the mass market and continues to be a stable source of revenue. With the majority of its restaurants located in shopping malls or within well-populated communities, the “Tai Hing” brand was able to generate stable revenue totalling HK$734.3 million (1H2020: HK$692.6 million), which represents 48.0% of the Group’s total revenue for the Review Period.
Having introduced several new brands to the market during the preceding financial year, the Group is delighted to note that “Daocheng”, “Dumpling Station” and “Dimpot” all performed well during the Review Period. The Group will continue to nurture and enhance these new brands to ensure they reach their full potential.
Revenue from takeaway and delivery business accounted for approximately 28.0% of total revenue
In Hong Kong, the restrictions on catering businesses have been partially relaxed in recent months, with anti-epidemic measures proving effective in controlling the pandemic. While an improvement in consumption sentiment has been observed, the sector has yet seen a return to normal in terms of dine-in level during the Review Period. The Group has therefore continued to increase its efforts in boosting sales from takeaway and delivery services. As a result, revenue from such services to total revenue for the Group’s restaurant operations was approximately 28.0% during 1H2021, with around 90% of the revenue contributed by the takeaway business, thus helping to offset the loss in dine-in revenue. In addition, the Group has further developed its line of ready-to-eat products in order to capitalise on the increasing dine-at-home trend.
Prospects
With its successful multi-brand strategy, the Group is well positioned to take advantage of opportunities under the current market conditions. It will therefore continue to negotiate with landlords for rent reductions and other concessions, in order to strengthen its control over rental expenses in the next three years. It will also steadily expand its restaurant network in a prudent and pragmatic manner. A principal focus of this expansion plan – covering both Mainland China and Hong Kong, will centre on the Group’s high-growth brands “Men Wah Bing Teng” which have enjoyed remarkable success and generated high returns. In addition, with the Southeast Asian cuisine brand “Asam Chicken Rice” having received such a positive market response, the Group has plans to introduce it to the Mainland China market later this year. The Group will continue to develop and launch new brands in both Hong Kong and Mainland China based on market trends and customer preferences.
In order to support its rapid business growth in the future, the Group will further optimise the production capacity of its food factories in both Mainland China and Hong Kong as well as improve the quantity, variety and quality of output from such factories through “direct procurement and centralised production”, and thus effectively bolster the Group’s competitiveness and reduce food costs. It is worth noting that the food factory in Dongguan recorded a profit and achieved an increase in production capacity in 1H2021.
Regarding the HK$5,000 Consumption Voucher Scheme (“the Scheme”) introduced by the Hong Kong SAR Government, the first batch of consumption vouchers was issued on 1st August 2021. The Group has been buoyed by the public response and plans to further capture opportunities by co-operating with various designated digital payment platforms and with corporations and shopping malls in Hong Kong to attract more consumer. In addition, the Group will also give full play to its multi-brand advantages and launch special promotions relating to the Scheme, so as to enhance the appeal of its restaurants among consumers and capitalise on the synergies generated among the brands. Given Tai Hing Group’s positioning as a multi-brand casual dining restaurant group targeting the mass public, it is confident that the Scheme can help boost its sales performance in the second half of this year.
The Group has taken a conservative approach to allocating resources to marketing activities over the past year due to the lingering pandemic situation and poor market sentiment. However, with the pandemic being brought under control in Hong Kong, it will bolster its marketing efforts going forward in order to stimulate consumption at its restaurants and revitalise its brand image. This will begin with the launch of marketing campaigns for the “TeaWood” brand through online and offline cross-platform promotions. With respect to the Group’s signature brand, “Tai Hing” and high-growth brand “Men Wah Bing Teng”, a series of marketing activities will be launched in accordance with the strategic goal of further boosting consumption and increasing revenue.
In view of the global digitisation trend, the Group will continue to increase its level of systematic digitalisation and increase automation so as to improve the efficiency of its restaurant operations. The Group will also develop its first integrated digital mobile application with the aim of enhancing and improving its customer relationship management. By utilising big data applications, the Group will be able to both increase the effectiveness and flexibility in which marketing resources are allocated, leading ultimately to greater patronage and stronger loyalty from target customers. Furthermore, by leveraging the Group’s solid customer base, it will be able to develop online sales and delivery platform as well as promote the cross-selling of its products. With this in mind, it will dedicate greater resources to the deployment of various advanced technology systems, upgrade its IT systems, and utilise big data applications, with the ultimate objective of supporting the expansion of the Group’s restaurant network and facilitating sustainable development in the long run.
Mr. Chan Wing On, Chairman and Executive Director of Tai Hing, said, “Given the constantly evolving pandemic situation, we believe the pace and degree of the market’s recovery will be very much dependent on how fully the virus subsides in the near future. The Group will continue to closely monitor market developments and will take proactive and appropriate steps to facilitate continuous business expansion in a prudent manner through its multi-brand strategy. With Tai Hing’s solid business foundation underpinned by its well-developed multi-brand strategy, we remain confident in the Group’s ability to withstand the current headwinds and move towards a more favourable trajectory along with the market recovery.”
About Tai Hing Group Holdings Limited (stock code: 6811)
Tai Hing Group Holdings Limited (“Tai Hing Group”) is a multi-brand casual dining restaurant group with roots in Hong Kong. In addition to its flagship “Tai Hing” brand, the Group has a growing brand portfolio comprisng of self-developed brands, and acquired and licensed brands, including “TeaWood”, “Trusty Congee King”, “Men Wah Bing Teng”, “Pho Le”, “Fisher & Farmer”, “Rice Rule”, “Hot Pot Couple”, “King Fong Bing Teng”, “Asam Chicken Rice”, “Daocheng”, “Dimpot” and “Dumpling Station”. Currently, it has a network of more than 220 restaurants in Hong Kong, Mainland China, Macau and Taiwan.
Topic: Press release summary
Aug 24, 2021 | Business
K. Wah International Holdings Limited (“KWIH” or “the Group”) (stock code: 00173) today announced its unaudited interim results for the six months ended 30 June 2021.
KWIH, with a robust yet flexible approach, timely launched premium projects during the period under review and achieved satisfactory sales results. For the six months ended 30 June 2021, the Group’s attributable contracted sales amounted to approximately HK$9.6 billion. As at the end of June 2021, total attributable contracted sales yet to be recognised amounted to approximately HK$17.4 billion, which are expected to be accounted for in the second half of 2021 and 2022, underpinning the Group’s future profitability. The Group’s total attributable revenue during the period under review amounted to approximately HK$3.2 billion, mainly from the property sales of Solaria in Hong Kong, The Palace III and Windermere in Shanghai, J City in Jiangmen and two joint venture projects in Jiaxing and Kunshan, etc. Profit attributable to equity holders amounted to approximately HK$780 million. Underlying profit dropped year-on-year to approximately HK$490 million as fewer contracted sales were recognised during the period compared to the same period last year. Having considered the amount of contracted sales yet to be recognised and the development progress of various projects, the Board of Directors remains confident in maintaining the Group’s long-term business growth and had declared an interim dividend of 7 HK cents, thus continuing to bring stable returns to shareholders.
Dr Lui Che-woo, Chairman of KWIH, said, “Global economy is on track of gradual recovery following the roll-out of the COVID-19 vaccination programmes in various countries in the first half of 2021. Hong Kong’s economy has also improved. Leveraging our commitment to delivering exquisite quality projects, KWIH adopted a robust and precise strategy to launch its premium projects in Hong Kong and Mainland China during the period under review and achieved satisfactory sales results.”
Satisfactory sales results In Hong Kong, K. Summit in Kai Tak reported a satisfactory sales performance during the period under review, with over 300 units sold. As of the end of June 2021, more than 960 units, which accounted for over 95% of the total, were sold with a total contracted sales of approximately HK$10.9 billion. The occupation permit of K. Summit was obtained in May and the Group has filed the application for the certificate of compliance. The delivery of pre-sold units of K. Summit will commence upon obtaining the certificate of compliance. As at the end of June 2021, over 1,000 units of Solaria in Pak Shek Kok, Tai Po, were sold, accounting for more than 93% of the total. In addition, Phases 1 and 3 of Grand Victoria, the harbourfront project in South West Kowloon, had been launched for sale since March.
In the Yangtze River Delta region, Azure in Pudong New District, Shanghai, was launched to the market in May this year and received an enthusiastic response from buyers. All units were taken up on the day of its debut, with a total sales amount of approximately RMB2.4 billion. In the Pearl River Delta region, six residential towers with 560 units of Bayview in Dongguan had been launched since November 2020. As at the end of June this year, approximately 450 units were sold, accounting for 80% of the units launched. In addition, execution of contracts for approximately 10% of the launched units already subscribed is in progress. The sales performance had been satisfactory. Sales of Cosmopolis, Phase 1 of Cosmo in Huadu District, Guangzhou, and Ziwei Gongguan, a joint venture project in Jiangmen, were soft-launched in the period. Additional units will be launched subject to market conditions.
Projects to be launched
Hong Kong: Grampian Road project in Kowloon, Phase 2 of Grand Victoria in South West Kowloon, Tuen Ma Line Kam Sheung Road Station Project in Yuen Long, LOHAS Park Package 11 Project in Tseung Kwan O and Kai Tak Area 4A Site 1 Project
The Grampian Road project located in a traditionally prestigious residential area of Kowloon offers five premium house units of over 4,000 sq. ft. each. The project is expected to be launched soon as completed properties. In early August this year, the first batch of units of Phase 2 of Grand Victoria in South West Kowloon was launched for tender. In addition, several joint ventures projects are expected to be marketed between late 2021 and early 2022. They are Kam Sheung Road Station Project on Tuen Ma Line in Yuen Long, LOHAS Park Package 11 Project in Tseung Kwan O and Kai Tak Area 4A Site 1 Project.
Mainland China: VETTA in Suzhou, Jiangning District project in Nanjing and Weifang Village Street project, Pudong New District in Shanghai
In the Yangtze River Delta, VETTA in Xiangcheng District, Suzhou, launched its first batch of units for sale in July this year, achieving satisfactory sales. Construction of the projects at Site G89 in Jiangning District, Nanjing and Weifang Village Street in the Pudong New District, Shanghai is making good progress. Both projects are expected to be completed between late 2021 and early 2022, with planning for market launch underway.
The Group will closely monitor market changes and continue to put the remaining units of the launched projects to the market, including K. Summit and Solaria in Hong Kong, Windermere in Shanghai, Cosmo in Guangzhou, Bayview in Dongguan, J City in Jiangmen, etc. The Group’s projects are being developed as scheduled and the Group will continue to launch its projects in a timely manner.
Landbank replenishment in prudent yet proactive manner
With its solid financial position, KWIH has been adopting flexible strategies such as by sole ownership and via joint venture to acquire premium land parcels in Hong Kong and Mainland China. In April this year, the Group participated in a commercial and residential project on Siping Road, Hongkou District in Shanghai via a joint venture. The project has a total GFA of approximately 47,000 sq. m. and is adjacent to a metro station. It is expected to be launched for sale between late 2021 and early 2022.
Currently, the Group has a landbank of a total attributable GFA of approximately 1.75 million sq. m. in Hong Kong and Mainland China for development. The Group will continue to proactively seek for new investment opportunities for future development to sustain its growth while appropriately managing land costs.
Diversified property portfolio for investment
KWIH has a diversified portfolio of properties for investment, including Grade-A office towers, hotel and serviced apartments, and speciality retail. As at this June end, attributable GFA of the Group’s portfolio of properties for investment amounted to approximately 270,000 sq. m. During the period under review, rental income (including hotel income) was approximately HK$360 million, up by 22% year-on-year and exceeding the pre-pandemic level.
As for office premises, the occupancy rate at Shanghai K. Wah Centre was over 95% during the period. The response to the leasing of EDGE in Jiangan District, Shanghai newly launched to the market had been positive. After the Group signed the lease with a world-renowned biopharmaceutical company in March this year, the property with a GFA of approximately 21,000 sq. m. had been fully leased. It has been generating rental income. In addition, the urban renewal project at Wuyi Road in Shanghai is expected to be put up for leasing following its completion in 2022. The occupancy rate of J SENSES, the speciality retail and dining complex in Hong Kong, reached 100% as of this June end. As for the hotel and serviced apartments operations, Stanford Residences Jing An and Stanford Residences Xu Hui maintained a high occupancy rate of 90% on average. The occupancy rate of Crowne Plaza Guangzhou Huadu also recorded moderate growth during the period under review.
Sound financial position supports steady business development
During the period under review, KWIH maintained a healthy financial position. As of 30 June 2021, the Group’s net gearing ratio dropped to 33%. Cash and bank deposits amounted to approximately HK$6 billion and undrawn bank loans amounted to approximately HK$13.6 billion. The Group has sufficient funds to capture investment opportunities, providing solid momentum for future business development.
Dr Lui concluded, “Looking ahead to the second half of this year, the domestic and international situation will remain complex. The path to economic recovery and the business environment will continue to be challenging. KWIH however remains cautiously optimistic about the long-term development of the local and Mainland property markets. The Group will take great care in continuously developing its business and to grasp any development opportunities enabling the Group’s vision of long-term and stable growth. I hope the social distancing measures will be further relaxed soon upon a higher vaccination rate in Hong Kong so that local economy will be stimulated and cross-border activities will be resumed, and all sectors of the community can return to normal.”
About K. Wah International Holdings Limited (stock code: 00173)
K. Wah International Holdings Limited (“KWIH”), listed in Hong Kong in 1987, is the property flagship of K. Wah Group. An integrated property developer and investor with a foothold in Hong Kong, the Yangtze River Delta and Pearl River Delta regions, KWIH engages in property development business covering large-scale residential communities and comprehensive development projects such as premium residential developments, Grade-A office towers, hotel and serviced apartments, retail premises and offering property management service. Cresleigh Property, the property management arm of KWIH, delivers exceptional hotel serviced property management services guided by advanced and international standards in general to premium residential buildings, commercial facilities, office towers and real estate complexes. Driven by a keen market sense and a versatile strategy, and backed by strong financial capability, KWIH has built up a prime land reserve in major cities of China, and thus a strong foothold for future growth.
KWIH is a constituent stock of the Hang Seng Composite MidCap Index, Hang Seng Corporate Sustainability Benchmark Index, MSCI Hong Kong Small Cap Index and Hang Seng Stock Connect Greater Bay Area Composite Index as well as an eligible stock under the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect programmes. KWIH held a 3.73% stake in Galaxy Entertainment Group Limited (stock code: 00027) as of 30 June 2021.
Website: http://www.kwih.com
Media Enquiries:
K. Wah International Holdings Limited
Helen Cheung Tel: (852) 2960 3739 Email: helencheung@kwah.com
Keith Hon Tel: (852) 2960 3314 Email: keithhon@kwah.com
Andrea Chan Tel: (852) 2960 3359 Email: andreachan@kwah.com
Fax: (852) 2811 9710
Strategic Financial Relations Limited
Iris Lee Tel: (852) 2864 4829 Email: iris.lee@sprg.com.hk
Maggie Au Tel: (852) 2864 4815 Email: maggie.au@sprg.com.hk
Vivienne Leung Tel: (852) 2864 4862 Email: vivienne.leung@sprg.com.hk
Fax: (852) 2527 1196
Topic: Press release summary
