CorporateReview of Operations History

Shun Tak Holdings Limited, In response to the growth of the in 1999. The combined entity is established in 1972 and listed on Southern China and operated and managed by the joint the economies in the 1980s, STE venture company, Shun Tak – China since 1973, is a leading Hong initiated a long-term programme of Travel Shipping Investments Ltd., Kong-based conglomerate diversification, first into tourism- under the trade name “TurboJET.” operating four core businesses – related industries, such as hotels shipping, property, hospitality and and restaurants, and then into real Today, the Group owns one of the investments. estate. Through its interest in major largest fleets of high-speed commercial, residential and retail passenger ferries in Asia. The fleet The Group’s shipping division is the property developments, including provides the public with fast, foundation of its historic growth. The Belcher’s development project, comfortable and reliable service The Group’s origins date back to the Group is a key player in the between Hong Kong and , 1961 when its major shareholder, property market in Hong Kong. Shenzhen and Guangzhou. Shun Tak Shipping Company, Limited (STS), was founded. In a In 1990, STE changed its name to Shun Tak employs more than 2,000 pioneering move, STS inaugurated Shun Tak Holdings Limited to better people in Hong Kong and Macau ferry service between Hong Kong reflect the diversity of its activities. and has established itself as one of and Macau the following year, after Two years later, the Group acquired the leading conglomerates the Macau government granted an a 5% stake in STDM, the enterprise operating in the Pearl River Delta. exclusive casino franchise to behind Macau’s dynamic Sociedade de Turismo e Diversões development. de Macau, S.A.R.L. (STDM). Shun Tak Enterprises Corporation In a strategic move to strengthen (STE), forerunner of the present its shipping division and expand company, was formed in 1972 to market share, the Group operate high-speed vessels on the successfully merged its shipping route, through its subsidiary, Far operations with those of East Hydrofoil Co., Ltd. CTS-Parkview Holdings Limited

2 SHUN TAK HOLDINGS LIMITED ANNUAL REPORT 2000