DOCSLIB.ORG

Annual Report Annual Report 2020

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Annual Report Annual Report 2020 (Incorporated in Bermuda with limited liability) （於百慕達註冊成立之有限公司） Stock Code 股份代號: 00908 2020 REPORT ANNUAL Units 3709-10, 37/F, West Tower, Shun Tak Centre, 168-200 Connaught Road Central, Sheung Wan, Hong Kong 香港上環干諾道中168-200 號信德中心西座37樓3709-10室 年 年報 Tel 電話：+852 2803 0866 報 2020 ANNUAL REPORT Website 網址：www.0908.hk ZHUHAI HOLDINGS INVESTMENT GROUP LIMITED 珠海控股投資集團有限公司 CONTENT 2 Corporate Information 4 Chairman’s Statement 7 Financial Highlights 8 Management Discussion and Analysis 36 Environmental, Social and Governance (ESG) Report 2020 46 Directors and Senior Management 58 Report of the Directors 113 Corporate Governance Report 137 Independent Auditor’s Report 145 Consolidated Statement of Profit or Loss 146 Consolidated Statement of Comprehensive Income 147 Consolidated Statement of Financial Position 149 Consolidated Statement of Changes in Equity 151 Consolidated Statement of Cash Flows 152 Notes to the Consolidated Financial Statements 263 Particulars of Properties 264 Financial Summary CORPORATE INFORMATION BOARD OF DIRECTORS NOMINATION COMMITTEE Executive Directors Mr. Zeng Jianping (appointed as the Chairman on 29 June 2020) Mr. Zeng Jianping Mr. Huang Xin (retired on 29 June 2020) (appointed as the Chairman on 29 June 2020) Mr. Ye Yuhong Mr. Huang Xin (retired on 29 June 2020) Mr. Hui Chiu Chung Mr. Jin Tao (Chief Executive Officer) Mr. Chu Yu Lin, David Mr. Ye Yuhong Mr. Albert Ho Mr. Li Wenjun Mr. Wang Yijiang Non-Executive Directors REMUNERATION COMMITTEE Datuk Wira Lim Hock Guan Mr. Hui Chiu Chung (Chairman) (resigned on 29 May 2020) Mr. Chu Yu Lin, David (Mr. Lim Seng Lee as his alternate Mr. Albert Ho resigned on 29 May 2020) Mr. Kwok Hoi Hing (resigned on 29 May 2020) COMPANY SECRETARY (Mr. Zhu Minming as his alternate resigned on 29 May 2020) Mr. Chan Chit Ming, Joeie Mr. Zou Chaoyong (appointed on 1 March 2021) Mr. Kwok Tung Fai (resigned on 1 March 2021) Independent Non-Executive Directors AUDITORS Mr. Hui Chiu Chung PricewaterhouseCoopers Mr. Chu Yu Lin, David Certified Public Accountants and Mr. Albert Ho Registered Public Interest Entity Auditor Mr. Wang Yijiang PRINCIPAL BANKERS Alternate Director Wing Lung Bank, Limited Mr. Lim Seng Lee Industrial and Commercial Bank of China, (ceased to act as alternate to Zhuhai Branch Datuk Wira Lim Hock Guan on 29 May 2020) Bank of China, Zhuhai Branch Mr. Zhu Minming China Everbright Bank, Zhuhai Branch (ceased to act as alternate to Xiamen International Bank, Zhuhai Branch Mr. Kwok Hoi Hing on 29 May 2020) Shanghai Pudong Development Bank, Zhuhai Branch AUDIT COMMITTEE Mr. Albert Ho (Chairman) Mr. Hui Chiu Chung Mr. Chu Yu Lin, David 02 ZHUHAI HOLDINGS INVESTMENT GROUP LIMITED CORPORATE INFORMATION LEGAL ADVISORS (AS TO HONG STOCK CODE KONG LAW) 00908 Chiu & Partners Allen & Overy INVESTORS RELATION PRINCIPAL SHARE REGISTRAR Email address: [email protected] MUFG Fund Services (Bermuda) Limited The Belvedere Building WEBSITE 69 Pitts Bay Road Pembroke HM08 www.0908.hk Bermuda BRANCH SHARE REGISTRAR Tricor Tengis Limited Level 54, Hopewell Centre 183 Queen’s Road East Hong Kong HEAD OFFICE AND PRINCIPAL PLACE OF BUSINESS IN HONG KONG Units 3709–10 37/F, West Tower, Shun Tak Centre 168–200 Connaught Road Central Sheung Wan Hong Kong REGISTERED OFFICE Clarendon House 2 Church Street Hamilton HM 11 Bermuda * The English transliteration of the Chinese names in this annual report, where indicated, is included for information only, and should not be regarded as the official English names of such Chinese names. Annual Report 2020 03 CHAIRMAN’S STATEMENT Dear Shareholders, Looking back at the year ended 31 December 2020 (“FY2020”), it was a challenging year for the People’s Republic of China (“PRC”) and global market as a whole. The widespread impact of the COVID-19 outbreak and weak consumer demand have driven down investor sentiment. In FY2020, the Group precisely capitalised on multi-dimensional and deep-rooted linkages, conscientiously put into practice the idea of concentrating on epidemic prevention and control and economic benefits, adhere to the keynote of sustaining current volumes while securing additional volumes. Focusing on the three business segments of (1) Jiuzhou Blue Sea Jet (Maritime transportation) and Blue Marine Tourism; (2) composite real estate and green leisure tourism; (3) public utilities and financial investments, the Group further leveraged on its capital, concentrated its efforts on the implementation of major projects, adopted a new mindset with the use of 04 ZHUHAI HOLDINGS INVESTMENT GROUP LIMITED CHAIRMAN’S STATEMENT the Internet, draw support from new media and During FY2020, under the leadership of the Board of network platforms, fostered innovation on business Directors of the Company (the “Board”) and with models and actively changed its traditional business the concerted efforts of all staff, the Company marketing model, promoted investment in its main showed initiative in planning, carried out merger and business and brand output, seized opportunities and acquisition of high-quality resources and laid a solid moved forward while actively responding to investment foundation to sustain rapid growth in the challenges, to forge an industry chain of perfect future. As a diversified company with the aim of living and travelling and maximise the returns for all forging an industry chain of perfect living and shareholders. travelling, the Group regards tourism resources, especially scarce natural resources, as the first element and core value of the tourism and leisure industry. Annual Report 2020 05 CHAIRMAN’S STATEMENT The Company recorded a net profit attributable to Thank you for being with us in 2020. Looking ahead owners of the Company for FY2020 of approximately to 2021, the Company will continue to uphold the RMB44,353,000 (FY2019: RMB81,069,000) and a spirit of “pragmatism, innovation and sharing” and basic earnings per share of RMB3.11 cents (FY2019: strive for better performance. I would like to take RMB5.68 cents). The Board of the Company does this opportunity to extend my gratitude to the Board not recommend the payment of a final dividend to for their strong leadership and all our staff for their the shareholders for FY2020 (FY2019: HK0 cents). relentless endeavors, as well as to express my deepest appreciation to our shareholders, our In 2021, global trade and economic situations remain customers and business partners for their full trust grim. While the Epidemic has been gradually and dedicated support. contained in China, the Group will maintain its precautionary measures as regular practices in an Finally, I would like to thank all of our directors, attempt to prevent any new outbreak of the employees and shareholders for their dedication and Epidemic, cherish the current prevention and control consistent support in the past year. Wish you all a effectiveness, and never give up all previous efforts. prosperous and healthy new year. The Group will build on the results it has so far achieved through its epidemic prevention and control measures to ensure that all previous efforts will not go down to the drain. Meanwhile, the Group will continue to improve its capital operation, strengthen By order of the Board its financial management and control, strive to Zeng Jianping broaden its financing and market channels, and Chairman enhance its operation, the quality of its projects, as Hong Kong, 29 March 2021 well as its efforts to invite investment. The Group will also refine its products, strictly control costs, and prioritise benefits while taking into account economies of scale, so as to promote its upgrade and development in these difficult times. The Group will further improve its business and asset structure, seize opportunities offered by the market, watch for its opportunities to revitalise its existing assets and focus on its core business. It will also optimise its debt and capital structure and actively seek suitable investment opportunities. 06 ZHUHAI HOLDINGS INVESTMENT GROUP LIMITED FINANCIAL HIGHLIGHTS Segment Revenue Segment Results* % % 80 110 103 70 66 90 60 70 50 40 50 32 30 30 20 10 10 1 2 0 -10 -4 Jiuzhou Blue Green Leisure Public Utilities Jiuzhou Blue Green Leisure Public Utilities Sea Jet and Tourism and and Financial Sea Jet and Tourism and and Financial Blue Marine Composite Investment Blue Marine Composite Investment Tourism Real Estate Tourism Real Estate 2020 2019 Revenue (RMB’000) 9,862,623 11,812,280 Gross profit (RMB’000) 1,309,151 1,244,050 EBITDA# (RMB’000) 1,100,369 1,061,404 Profit for the year (RMB’000) 238,762 280,328 Profit attributable to owners of the Company (RMB’000) 44,353 81,069 Gross margin (%) 13.3% 10.5% EBITDA margin (%) 11.2% 9.0% Profit margin (%) 2.4% 2.4% Earnings per share (RMB) — basic RMB3.11 cents RMB5.68 cents Dividend per share (HK$) — final dividend (proposed) (HK$) Nil Nil Dividend pay-out ratio (%) Nil Nil Current ratio (times) 1.13 1.34 Gearing ratio (%) 58% 61% * not included Corporate and Others, and Inter-segments eliminations # EBITDA represents profit before tax excluding gains/(losses) on disposal and write-off of property, plant and equipment, finance expenses and depreciation of property, plant and equipment and right-of-use assets Annual Report 2020 07 MANAGEMENT DISCUSSION AND ANALYSIS MANAGEMENT DISCUSSION AND ANALYSIS BUSINESS REVIEW The decrease in profit mentioned above is mainly attributable to the combined effects of the decrease During FY2020, affected by the COVID-19 outbreak in revenue or increase in loss (as the case may be) in (the “Epidemic”), the global economy and health respect of (i) the Jiuzhou Blue Sea Jet and Blue safety faced a severe crisis. In order to effectively Marine Tourism business as a result of certain contain the spread of the Epidemic, most enterprises measures taken to reduce the frequency of service or chose to suspend work and production in phases, even suspend the service of Hong Kong-Zhuhai ferry thus disrupted the global supply chain and caused lines in response to the Epidemic, (ii) the hotel varying degrees of impact on numerous industries.
Load more

Recommended publications
  • 4Q19 Earnings Call Presentation January 29, 2020 Forward Looking Statements
    4Q19 Earnings Call Presentation January 29, 2020 Forward Looking Statements This presentation contains forward-looking statements made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve a number of risks, uncertainties or other factors beyond the company’s control, which may cause material differences in actual results, performance or other expectations. These factors include, but are not limited to, general economic conditions, disruptions or reductions in travel, as well as in our operations, due to natural or man-made disasters, pandemics, epidemics, or outbreaks of infectious or contagious diseases such as the coronavirus originating in Wuhan, China, new development, construction and ventures, government regulation, risks relating to our gaming licenses and subconcession, fluctuations in currency exchange rates and interest rates, substantial leverage and debt service, gaming promoters, competition, tax law changes, infrastructure in Macao, political instability, civil unrest, terrorist acts or war, legalization of gaming, insurance, our subsidiaries’ ability to make distribution payments to us, and other factors detailed in the reports filed by Las Vegas Sands with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward- looking statements, which speak only as of the date thereof. Las Vegas Sands assumes no obligation to update such information. Within this presentation, the company may make reference
    [Show full text]
  • 1Q'19 Results Presentation
    1Q’19 RESULTS PRESENTATION May 2019 1 Disclaimer Safe Harbor Statement This presentation contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. These factors include, but are not limited to, (i) growth of the gaming market and visitation in Macau and the Philippines, (ii) capital and credit market volatility, (iii) local and global economic conditions, (iv) our anticipated growth strategies, (v) gaming authority and other governmental approvals and regulations and (vi) our future business development, results of operations and financial condition. In some cases, forward- looking statements can be identified by words or phrases such as "may", "will", "expect", "anticipate", "target", "aim", "estimate", "intend", "plan", "believe", "potential", "continue", "is/are likely to" or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the SEC. All information provided in this presentation is as of the date of this presentation and the Company undertakes no duty to update such information, except as required under applicable law.
    [Show full text]
  • MTR Awarded Operations and Maintenance Contract for Macao
    PR025/18 11 April 2018 MTR Awarded Operations and Maintenance Contract for Macau Light Rapid Transit Taipa Line The MTR Corporation welcomes the Macau SAR Government’s announcement today (11 April 2018) on the award of a contract for the operations and maintenance assistance services (O&M Contract) of the Macau Light Rapid Transit (LRT) Taipa Line to the Corporation’s wholly owned subsidiary MTR Operações Ferroviárias (Macau) Sociedade Unipessoal Lda. (MTR (Macau)). The O&M Contract covers an 80-month service period. MTR (Macau)’s service scope will include the Macau LRT Taipa Line’s testing and commissioning activities, operation of train services, and maintenance of trains, signalling system and infrastructure. The contract amount is MOP 5.88 billion (around HKD 5.71 billion). Mr Lincoln Leong, Chief Executive Officer of MTR Corporation, said: “We are delighted to have the opportunity to participate in the operations of Macau’s first railway system and serve the travelling public in Macau. Building on our proven operational expertise in Hong Kong and international markets, we are confident in delivering quality services and contributing to Macau’s railway development.” The 9.3km Taipa Line will serve 11 stations, and is expected to commence service in 2019. The transit system will be fully automated and driverless using rubber tyre vehicles. - End - About MTR Corporation MTR Corporation is regarded as one of the world’s leading railway operators for safety, reliability, customer service and cost efficiency. In its home base of Hong Kong, the Corporation operates ten commuter railway lines, a Light Rail network and a high-speed Airport Express link on which about 5.8 million passenger trips are made on a normal week day.
    [Show full text]
  • MACAU LIGHT RAIL TRANSIT - C500 SUPERVISION (Taipa Line System and Electromechanical Equipment)
    MACAU LIGHT RAIL TRANSIT - C500 SUPERVISION (Taipa Line System and Electromechanical Equipment) Taipa Line LRT Stations Client / Employer Government of the Macao Special Administrative Region Transportation Infrastructure Office Service C500 Supervision by CONSULASIA, LDA. Investment MOP 11,000 Million (estimative) / 1,320 Million Milhões Euros Contract Price MOP 196,899,548 / Aprox. 23,610 Mil Euros Description of the Has been one of the main public works since the transfer of the sovereignty Project of the territory of Portugal to China in 1999. This project aims to contribute strongly to urban development, traffic planning and mobility of the resident population and tourists of the Macao Special Administrative Region. In an initial phase, the light rail network will have two segments, one in the Macao Peninsula and the other in the Zone that covers the island of Taipa and Cotai (New urban area between the islands of Taipa and Coloane). The two segments will be connected by the Sai Van Bridge. The project was launched with the construction of the Taipa line and is expected to start operating in 2019. The Taipa line will have 9.3 kilometers, 11 stations and an estimated cost of 11,000 million patacas (approximately 1,300 million euros ). The light rail will use "Mitsubishi Heavy Industries Crystal Mover" rolling Railway between Jockey stock with rubber tires resting on concrete plinths. It is planned to use 55 Clube and Oceano Stations vehicles of 2 carriages, totally automated (without driver), nicknamed "Ocean Cruiser". PR171 MACAU LIGHT RAIL TRANSIT - C500 SUPERVISION (cont.) (Taipa Line System and Electromechanical Equipment) Oceano Station The involvement of CONSULASIA in this important work began in 2002 with the initial feasibility study of the project.
    [Show full text]
  • Taipa Line Preview Drops
    12 YEARS A-CHANGIN’ Double Down! ADVERTISING HERE Kowie Geldenhuys Paulo Coutinho www.macaudailytimes.com.mo +853 287 160 81 FOUNDER & PUBLISHER EDITOR-IN-CHIEF THURSDAY T. 26º/ 32º Air Quality Good MOP 8.00 3359 “ THE TIMES THEY ARE A-CHANGIN’ ” N.º 22 Aug 2019 HKD 10.00 MGM CHINA SAYS IT IS NOT USING FACIAL CHINA WANTS TOTAL BAN A UNIVERSITY OF MACAU STUDENT RECOGNITION IN ITS CASINOS, AMID HAS DISCOVERED TWO EBOLA DRUG REPORTS THAT TWO OR THREE GAMING ON SOUTHEAST ASIA’S CANDIDATES IN WHAT IS BEING HAILED OPERATORS ARE STUDYING ITS USE ONLINE GAMBLING AS AN IMPORTANT BREAKTHROUGH P3 P3 P6 AP PHOTO TAIPA LINE PREVIEW DROPS China At least 201 people have been killed and 63 are missing P4-5 following flooding across China in July and August, 6-PATACA FARE HINT according to government rescue services. The most recent deaths came in mountainous MARQUES RENATO Sichuan province, where eight were killed and 23 missing. Earlier in August, 39 were killed and nine left missing by Typhoon Lekima. China From Thailand to Kenya, trains run on tracks from steel mills in China’s northeast, a rust-belt region that is trying to capitalize on a multibillion-dollar national initiative to build ports, railways and other projects abroad. More on p10 AP PHOTO China The foreign ministers of China, Japan and South Korea met in Beijing yesterday as they seek to encourage progress on North Korean denuclearization at a time of tense relations between Tokyo and Seoul over trade. More on p13 AP PHOTO Bridge said Mission for Shenzhen Indonesia has deployed not quite to spite HK more than 1,000 security to bring 30% personnel to the restive P9 GREATER BAY province of West Papua more same-day amid spreading protests visitors P2 and violence, police said yesterday.
    [Show full text]
  • The International Light Rail Magazine
    THE INTERNATIONAL LIGHT RAIL MAGAZINE www.lrta.org www.tautonline.com FEBRUARY 2020 NO. 986 2020 VISION Our predictions for the new systems due to open this year Hamilton LRT cancellation ‘a betrayal’ Tram & metro: Doha’s double opening China launches 363km of new routes Berlin tramways Added value £4.60 Bringing Germany’s What is your tram capital back together project really worth? European Light Rail Congress TWO days of interactive debates... EIGHT hours of dedicated networking... ONE place to be Ibercaja Patio de la Infanta Zaragoza, Spain 10-11 June The European Light Rail Congress brings together leading opinion-formers and decision-makers from across Europe for two days of debate around the role of technology in the development of sustainable urban travel. With presentations and exhibitions from some of the industry’s most innovative suppliers and service providers, this congress also includes technical visits and over eight hours of networking sessions. 2020 For 2020, we are delighted to be holding the event in the beautiful city of Zaragoza in partnership with Tranvía Zaragoza, Mobility City and the Fundación Ibercaja. Our local partners at Tranvía Zaragoza have arranged a depot tour as part of day one’s activities at the European Light Rail Congress. At the event, attendees will discover the role and future of light rail within a truly intermodal framework. To submit an abstract or to participate, please contact Geoff Butler on +44 (0)1733 367610 or [email protected] +44 (0)1733 367600 @ [email protected] www.mainspring.co.uk MEDIA PARTNERS EU Light Rail Driving innovation CONTENTS The official journal of the Light Rail 64 Transit Association FEBRUARY 2020 Vol.
    [Show full text]
  • China Greater Bay Area Green Infrastructure Investment Opportunities
    Green Infrastructure Investment Opportunities THE GUANGDONG-HONG KONG-MACAO GREATER BAY AREA 2021 REPORT Prepared by Climate Bonds Initiative Produced with the kind support of HSBC Executive summary In the Guangdong-Hong Kong-Macao Greater Bay Area (the GBA), which consists of nine cities in Guangdong Province and two special administrative regions, i.e., Hong Kong and Macao, the effects of climate change and the Overall infrastructure Low carbon transport risks associated with a greater than 2°C rise • A total investment of USD135bn was global temperatures by the end of the century • The major infrastructure projects in the planned in rail transit during 14th FYP. are significant due to its high exposure to natural 14th Five-Year-Plan (FYP) of Guangdong hazards and vast coastlines. Province are expected to have a total • A total mileage of about 775 km are investment of RMB5tn (USD776.9bn), of planned in the GBA, the total investment Investment in low carbon solutions will be which green infrastructure investment is about USD72.7bn. essential for mitigating climate risk and meeting is not less than RMB1.9tn (USD299bn), global emission reduction pathways under the • Hong Kong plans to spend around including rail transit, wind power, Paris Climate Change Agreement. The Outline USD3.23bn for four new infrastructure modern water conservancy, ecological Development Plan for the Guangdong-Hong projects which include a railway line. civilization construction and new Kong-Macao Greater Bay Area (the GBA Outline infrastructure construction. Plan) issued by China’s State Council also emphasises green development and ecological • Hong Kong states that the government conservation.
    [Show full text]
  • METROS/U-BAHN Worldwide
    METROS DER WELT/METROS OF THE WORLD STAND:31.12.2020/STATUS:31.12.2020 ّ :جمهورية مرص العرب ّية/ÄGYPTEN/EGYPT/DSCHUMHŪRIYYAT MISR AL-ʿARABIYYA :القاهرة/CAIRO/AL QAHIRAH ( حلوان)HELWAN-( المرج الجديد)LINE 1:NEW EL-MARG 25.12.2020 https://www.youtube.com/watch?v=jmr5zRlqvHY DAR EL-SALAM-SAAD ZAGHLOUL 11:29 (RECHTES SEITENFENSTER/RIGHT WINDOW!) Altamas Mahmud 06.11.2020 https://www.youtube.com/watch?v=P6xG3hZccyg EL-DEMERDASH-SADAT (LINKES SEITENFENSTER/LEFT WINDOW!) 12:29 Mahmoud Bassam ( المنيب)EL MONIB-( ش ربا)LINE 2:SHUBRA 24.11.2017 https://www.youtube.com/watch?v=-UCJA6bVKQ8 GIZA-FAYSAL (LINKES SEITENFENSTER/LEFT WINDOW!) 02:05 Bassem Nagm ( عتابا)ATTABA-( عدىل منصور)LINE 3:ADLY MANSOUR 21.08.2020 https://www.youtube.com/watch?v=t7m5Z9g39ro EL NOZHA-ADLY MANSOUR (FENSTERBLICKE/WINDOW VIEWS!) 03:49 Hesham Mohamed ALGERIEN/ALGERIA/AL-DSCHUMHŪRĪYA AL-DSCHAZĀ'IRĪYA AD-DĪMŪGRĀTĪYA ASCH- َ /TAGDUDA TAZZAYRIT TAMAGDAYT TAỴERFANT/ الجمهورية الجزائرية الديمقراطيةالشعبية/SCHA'BĪYA ⵜⴰⴳⴷⵓⴷⴰ ⵜⴰⵣⵣⴰⵢⵔⵉⵜ ⵜⴰⵎⴰⴳⴷⴰⵢⵜ ⵜⴰⵖⴻⵔⴼⴰⵏⵜ : /DZAYER TAMANEỴT/ دزاير/DZAYER/مدينة الجزائر/ALGIER/ALGIERS/MADĪNAT AL DSCHAZĀ'IR ⴷⵣⴰⵢⴻⵔ ⵜⴰⵎⴰⵏⴻⵖⵜ PLACE DE MARTYRS-( ع ني نعجة)AÏN NAÂDJA/( مركز الحراش)LINE:EL HARRACH CENTRE ( مكان دي مارت بز) 1 ARGENTINIEN/ARGENTINA/REPÚBLICA ARGENTINA: BUENOS AIRES: LINE:LINEA A:PLACA DE MAYO-SAN PEDRITO(SUBTE) 20.02.2011 https://www.youtube.com/watch?v=jfUmJPEcBd4 PIEDRAS-PLAZA DE MAYO 02:47 Joselitonotion 13.05.2020 https://www.youtube.com/watch?v=4lJAhBo6YlY RIO DE JANEIRO-PUAN 07:27 Así es BUENOS AIRES 4K 04.12.2014 https://www.youtube.com/watch?v=PoUNwMT2DoI
    [Show full text]
  • Results Presentation
    2Q’21 Results Presentation July 27th, 2021 Disclaimer Safe Harbor Statement This presentation contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. The Company may also make forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. These factors include, but are not limited to, (i) the global pandemic of COVID-19, caused by a novel strain of the coronavirus, and the continued impact of its consequences on our business, our industry and the global economy, (ii) growth of the gaming market and visitation in Macau, (iii) capital and credit market volatility, (iv) local and global economic conditions, (v) our anticipated growth strategies, (vi) gaming authority and other governmental approvals and regulations and (vii) our future business development, results of operations and financial condition. In some cases, forward-looking statements can be identified by words or phrases such as "may", "will", "expect", "anticipate", "target", "aim", "estimate", "intend", "plan", "believe", "potential", "continue", "is/are likely to" or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the SEC.
    [Show full text]
  • Bsc (Honours) Hospitality Business Management
    Sheffield Hallam University BSc (Honours) in Hospitality Business Management (2008-2009) Faculty of Organisation and Management BSc (Honours) Hospitality Business Management Title: Motivational factors for Hong Kong visitors to Macau Name: Yum Wing Po Student No: 91203310 Month Year April 2009 Title: Motivational factors for Hong Kong visitors to Macau Name:Yum Wing Po Supervisor: Prof. Ray Pine SHU: 91203310 Sheffield Hallam University BSc (Honours) in Hospitality Business Management (2008-2009) Sheffield Hallam University Faculty of Organisation and Management Title: Motivational factors for Hong Kong visitors to Macau FULL NAME: YUM WING PO STUDENT No: 91203310 Supervisor: Professor Pine, Ray In partial fulfilment of the requirements for the degree of Bachelor of Science in Hospitality Business Management. Month Year April 2009 Title: Motivational factors for Hong Kong visitors to Macau ii Name:Yum Wing Po Supervisor: Prof. Ray Pine SHU: 91203310 SHAPE: 087005086 Sheffield Hallam University BSc (Honours) in Hospitality Business Management (2008-2009) Acknowledgements This kind of paper for me is first time, so there a lot of things that I have not seen before. Such as handling a paper which is contain 10000 words with a lot of readings individually, clear understand how to write a good reference, and the Statistical Package for Social Science (SPSS) which is for analysis. Therefore, I would like thanks different persons who give a lot of support and comments for me. Professor Ray Pine, my supervisor in dissertation. He always gives some clear guidelines of my work and willing to check with me for each part which his professional comments and experience.
    [Show full text]
  • Macau Light Rapid Transit (MLRT): Mainstay Transport System for A
    Mitsubishi Heavy Industries Technical Review Vol. 57 No. 2 (June 2020) 1 Macau Light Rapid Transit (MLRT)： Mainstay transport system for a world-leading tourist city Mitsubishi Heavy Industries Engineering, Ltd. The Macau Special Administrative Region (Macau) facing the South China Sea consists of the Macau Peninsula, which borders China, and a unified island formed by reclaimed land that connects Taipa and Coloane islands. The area developed from land reclamation is called Cotai. The peninsula and the island are connected by three bridges. Macau is densely packed with hotels and modern architecture, as well as buildings from the Portuguese colonial era. With a population of approximately 680,000 (in 2019), Macau has the highest population density in the world. Its casinos, a number of world cultural heritage sites and the Macau Grand Prix street circuit racing event have made Macau one of the world's leading tourist destinations. The number of tourists visiting Macau reached 39.4 million in 2019. Macau does not have rail-based transportation. Since buses and taxis are the daily means of transportation, traffic jams and environmental pollution are becoming major concerns. The Macau government began researching countermeasures in 2002 aimed at solving the urban traffic concerns. In 2011, Mitsubishi Heavy Industries Engineering, Ltd. (MHIENG) was awarded an order for the rolling stock and related systems of the Macau Light Rapid Transit (MLRT). The following is an overview of the rolling stock and related systems of the MLRT Taipa Line, which started operation in December 2019. |1. Overview of the MLRT System The MLRT system is an Automated Guideway Transit (AGT) that uses fully-automatic unmanned vehicles, known as Crystal Mover (brand name), with rubber tires.
    [Show full text]
  • Development Plan of the Macao Special Administrative Region (2016-2020)
    The Five-Year Development Plan of the Macao Special Administrative Region (2016-2020) Government of Macao Special Administrative Region September 2016 Contents Preface 03 I. Strategy 05 Chapter 1: Explore New Horizons for the Development of MSAR 05 Section 1: Situation Analysis 05 Section 2: Underlying Principles 07 Section 3: Vision and Target 10 Section 4: Development Strategies 18 II. People’s Livelihoods 23 Chapter 2: Expedite the Development of a Liveable City 23 Section 1: Build up a Land Reserve and Refine Urban Planning 23 Section 2: Infrastructure Construction 29 Section 3: Accessible Environment and Smart City 34 Section 4: Promote Environmental Protection and Green Living 40 Section 5: Enhance Crisis Management and Build a Safe City 44 Chapter 3: Enhance People’s Livelihoods 47 Section 1: Advocate Coherence of Humanity and Advocate the Core Value 47 of Our Love for the Country and for Macao Section 2: Safeguard Employment Priority for Local Citizens and Build a City 50 with a Favourable Working Environment Section 3: Press Ahead with the Implementation of the Principles of Letting 52 Macao Thrive Through Education and Building Macao with Talent Section 4: Improve People’s Wellbeing and Care for the Underprivileged 58 Section 5: Implement Strategy in Response to Population Ageing 61 Section 6: Improve the Healthcare System and Build a Healthy City 64 III. Do desenvolvimento 71 1 III. Development 71 Chapter 4: Promote Moderate Economic Diversification 71 Section 1: Promote Synergic Development of Gaming and Non-gaming 71 industries
    [Show full text]