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Sino Land Company Limited

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Sino Land Company Limited www.sino.com The Hermitage This annual report (“Annual Report”) is available in both English and Chinese. Shareholders who have received either the English or the Chinese version of the Annual Report may request a copy in the language different from that has been received by writing to the Company’s Registrars, Tricor Standard Limited, 26th Floor, Tesbury Centre, 28 Queen’s Road East, Hong Kong. The Annual Report (in both English and Chinese versions) has been posted on the Company’s website at www.sino.com. Shareholders who have chosen to rely on copies of the Corporate Communications (including but not limited to annual report, summary financial report (where applicable), interim report, summary interim report (where applicable), notice of meeting, listing document, circular and proxy form) posted on the Company’s website in lieu of any or all the printed copies thereof may request printed copy of the Annual Report. Shareholders who have chosen to receive the Corporate Communications using electronic means through the Company’s website and who for any reason have difficulty in receiving or gaining access to the Annual Report posted on the Company’s website will promptly upon request be sent the Annual Report in printed form free of charge. Shareholders may at any time choose to change their choice of language and means of receipt (i.e. in printed form or by electronic means through the Company’s website) of all future Corporate Communications from the Company by giving reasonable notice in writing by post to the Company’s Registrars, Tricor Standard Limited at 26th Floor, Tesbury Centre, 28 Queen’s Road East, Hong Kong or by email at [email protected]. CONTENTS 2 Corporate Information 128 Consolidated Income Statement 3 Notice of Annual General Meeting 129 Consolidated Statement of Comprehensive Income 6 Group Financial Summary 130 Statements of Financial Position 11 Chairman’s Statement 132 Consolidated Statement of Changes in Equity 26 Biographical Details of Directors 133 Consolidated Statement of Cash Flows & Senior Management 135 Notes to the Consolidated Financial Statements 30 Corporate Governance Report 218 Disclosure Pursuant to Rule 13.22 38 Directors’ Report of the Listing Rules 76 Review of Operations 219 Major Properties Held by the Group 126 Independent Auditor’s Report Proxy Form Sino Land Company Limited . Annual Report 2010 CORPORATE INFORMATION BOARD OF DIRECTORS PRINCIPAL BANKERS Robert Ng Chee Siong, Chairman Bank of China (Hong Kong) Limited Ronald Joseph Arculli, GBM, CVO, GBS, OBE, JP# The Hongkong and Shanghai Banking Allan Zeman, GBS, JP* Corporation Limited Adrian David Li Man-kiu, JP* DBS Bank Ltd, Hong Kong Branch Fu Yuning* The Bank of East Asia, Limited Yu Wai Wai Hang Seng Bank Limited Thomas Tang Wing Yung Industrial and Commercial Bank of Daryl Ng Win Kong China (Asia) Limited Ringo Chan Wing Kwong Bangkok Bank Public Company Limited Sunny Yeung Kwong Sumitomo Mitsui Banking Corporation Bank of Communications, Hong Kong Branch (# Non-Executive Director) Mizuho Corporate Bank, Ltd. (* Independent Non-Executive Directors) China Construction Bank Wing Lung Bank Limited AUDIT COMMITTEE Adrian David Li Man-kiu, JP, Chairman INVESTOR RELATIONS CONTACT Allan Zeman, GBS, JP Please direct enquiries to: Fu Yuning General Manager – Corporate Finance Telephone : (852) 2734 8312 REMUNERATION COMMITTEE Fax : (852) 2369 1236 Daryl Ng Win Kong, Chairman Email : [email protected] Allan Zeman, GBS, JP Adrian David Li Man-kiu, JP REGISTERED OFFICE 12th Floor, Tsim Sha Tsui Centre, AUTHORIZED REPRESENTATIVES Salisbury Road, Tsim Sha Tsui, Robert Ng Chee Siong Kowloon, Hong Kong Thomas Tang Wing Yung Telephone : (852) 2721 8388 Fax : (852) 2723 5901 SECRETARY Website : www.sino.com Eric Ip Sai Kwong Email : [email protected] AUDITOR REGISTRARS Deloitte Touche Tohmatsu Tricor Standard Limited Certified Public Accountants, Hong Kong 26th Floor, Tesbury Centre, 28 Queen’s Road East, SOLICITORS Hong Kong Baker & McKenzie Telephone : (852) 2980 1333 Clifford Chance Fax : (852) 2861 1465 Woo, Kwan, Lee & Lo Email : [email protected] Shareholders’ CALENDAR LISTING INFORMATION Closure of Register of Members 25th October, 2010 to Stock Code 83 28th October, 2010 American Depositary Receipt (both dates inclusive) CUSIP Number 829344308 Annual General Meeting 28th October, 2010 Trading Symbol SNOLY Interim Dividend HK10 cents per share ADR to Ordinary Share Ratio 1:5 Paid 26th April, 2010 Listing Level One (OTC) Depositary Bank The Bank of New York Final Dividend HK30 cents per share Payable 29th November, 2010 101 Barclay Street, 22nd Floor – West, Last Date for lodging 18th November, 2010 New York, NY 10286, scrip dividend 4:30 p.m. U.S.A. election forms 2 Sino Land Company Limited . Annual Report 2010 NOTICE OF ANNUAL GENERAL MEETING NOTICE IS HEREBY GIVEN that the Annual General Meeting of the Shareholders of Sino Land Company Limited will be held at The Pacific Rooms, 9th Floor, Towers Wing, The Royal Pacific Hotel & Towers, 33 Canton Road, Tsim Sha Tsui, Kowloon, on Thursday, the 28th day of October, 2010 at 9:30 a.m. for the following purposes: 1. To receive and consider the audited Financial Statements and the Directors’ and Independent Auditor’s Reports for the year ended 30th June, 2010. 2. To declare a final dividend. 3. To re-elect retiring Directors and to authorise the Board to fix the Directors’ remuneration for the financial year ending 30th June, 2011. 4. To re-appoint Deloitte Touche Tohmatsu as Auditor for the ensuing year and authorise the Board to fix their remuneration. 5. As special business to consider and, if thought fit, pass with or without amendments, the following resolutions as Ordinary Resolutions: Ordinary Resolutions (i) “THAT: (a) subject to paragraph (i)(b) below, the exercise by the Directors of the Company during the Relevant Period of all the powers of the Company to repurchase shares of the Company on The Stock Exchange of Hong Kong Limited (the “Stock Exchange”) or on any other stock exchange on which the shares of the Company may be listed and recognised by the Securities and Futures Commission and the Stock Exchange for this purpose, subject to and in accordance with all applicable laws and the requirements of the Rules Governing the Listing of Securities on the Stock Exchange or of any other stock exchange as amended from time to time be and is hereby generally and unconditionally approved; (b) the aggregate nominal amount of the shares to be repurchased pursuant to the approval in paragraph (i)(a) above shall not exceed 10% of the aggregate nominal amount of the share capital of the Company in issue as at the date of passing this resolution and the said approval shall be limited accordingly; and (c) for the purposes of this resolution: “Relevant Period” means the period from the passing of this resolution until whichever is the earlier of: (1) the conclusion of the next Annual General Meeting of the Company; (2) the expiration of the period within which the next Annual General Meeting of the Company is required by law to be held; and (3) the date on which the authority set out in this resolution is revoked or varied by an ordinary resolution of the shareholders in general meeting.” 3 Sino Land Company Limited . Annual Report 2010 NOTICE OF ANNUAL GENERAL MEETING (Continued) (ii) “THAT: (a) a general mandate be and is hereby unconditionally given to the Directors of the Company to exercise during the Relevant Period all the powers of the Company to allot, issue and deal with additional shares of the Company, to allot, issue or grant securities of the Company, including bonds, debentures and notes convertible into shares of the Company and to make or grant offers, agreements or options which would or might require the exercise of such powers either during or after the Relevant Period, provided that these powers of the Directors and this general mandate is in respect of and in addition to any shares which may be issued on the exercise of the subscription rights under the Company’s warrants or pursuant to any scrip dividend scheme or pursuant to a rights issue or pursuant to the exercise of any share option scheme adopted by the Company or pursuant to any rights of conversion under any existing convertible bonds, debentures or notes of the Company, and provided further that these powers of the Directors and this general mandate shall be subject to the restrictions that the aggregate nominal amount of shares allotted or agreed to be allotted or issued pursuant thereto, whether by way of option or conversion or otherwise, shall not exceed 20% of the aggregate nominal amount of the share capital of the Company in issue as at the date of passing this resolution; and (b) for the purposes of this resolution: “Relevant Period” means the period from the passing of this resolution until whichever is the earlier of: (1) the conclusion of the next Annual General Meeting of the Company; (2) the expiration of the period within which the next Annual General Meeting of the Company is required by law to be held; and (3) the date on which the authority set out in this resolution is revoked or varied by an ordinary resolution of the shareholders in general meeting.” (iii) “THAT, conditional upon the resolutions (i) and (ii) above being passed, the aggregate nominal amount of the shares which are repurchased by the Company under the authority granted pursuant to resolution (i) above (up to a maximum of 10% of the aggregate nominal amount of the share capital of the Company in issue as at the date of this resolution) shall be added to the aggregate nominal amount of share capital that may be allotted or agreed conditionally or unconditionally to be allotted by the Directors of the Company pursuant to resolution (ii) above.” By Order of the Board Eric IP Sai Kwong Secretary Hong Kong, 27th September, 2010 4 Sino Land Company Limited .
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