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2007 Annual Report

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2007 Annual Report inner cover(v6) 3/19/08 2:00 PM Page 1 GROUP OFFICES OFFICES GENTING INTERNATIONAL P.L.C. GENTING INTERNATIONAL P.L.C. www.gentinginternational.com We are a global gaming company and one of the world’s leading integrated resorts specialists. CORPORATE OFFICES HONG KONG - Head Office SINGAPORE UNITED KINGDOM Genting International P.L.C Resorts World at Sentosa Pte Ltd Genting Stanley Plc Suite 1001, Ocean Centre 39, Artillery Avenue, Sentosa 31, Curzon Street 5 Canton Road, Tsimshatsui Singapore 099958 London W1J 7TW OUR MISSION Kowloon, Hong Kong S.A.R. T: + 65 6407 8833 United Kingdom T: +852 2317 7133 F: +65 6407 8832 T: +44 207 518 0572 We will: F: +852 2314 8724 www.rwsentosa.com F: +44 207 499 2474 www.stanleycasinos.com MALAYSIA 1. Be responsive to the changing demands of our customers and excel in providing quality products and Genting International Services Sdn Bhd E-Genting Holdings Sdn Bhd services. 16th Floor, Wisma Genting 19th Floor, Wisma Genting 28, Jalan Sultan Ismail 28, Jalan Sultan Ismail 50250 Kuala Lumpur 50250 Kuala Lumpur 2. Be committed to innovation and the adoption of new technology to achieve competitive advantage. Malaysia Malaysia T: +603 2178 2288 / 2333 2288 T: +603 2178 2288 / 2333 2288 F: +603 2161 6368 F: +603 2333 6666 / 2333 6288 3. Generate a fair return to shareholders. SALES / BRANCH / REPRESENTATIVE / WORLDCARD OFFICES 4. Pursue personnel policies that recognise and reward performance and contribution of employees AUSTRALIA UNITED KINGDOM VIETNAM and provide proper training, development and opportunities for career advancement. Genting (NSW) Pty Ltd * Genting International (UK) Limited * Adriana Limited # Suite 810, Level 8, 31 Curzon Street 170 Bis (3rd Floor) Tran Hung Doa St. 401 Sussex Street London W1J 7TW Nguyen Cu Trinh Ward, District 1 5. Be a responsible corporate citizen, committed to enhancing corporate governance and transparency. Sydney, NSW 2000 United Kingdom Ho Chi Minh, Vietnam T: +612 9281 1433 T: +44 020 7659 6210 T: +84 8 920 6334/8920 6335 F: +612 9281 1430 F: +44 020 7499 2474 F: +84 8 920 6335 HONG KONG UAE - SHARJAH WORLDCARD HONG KONG Genting International P.L.C. * Adriana Limited ^ Suite 1001, Ocean Centre CONTENTS Suite 1001, Ocean Centre, Sharjah Airport International Free Zone 5 Canton Road 5 Canton Road, Tsimshatsui Executive Suite X4-17 Tsimshatsui, Kowloon Kowloon, Hong Kong SAR P.O.Box 120652, Hong Kong SAR T: +852 2317 7133 Sharjah - U.A.E T: +852 2978 3888 Page Page F: +852 2314 8724 T: +971 6557 5015 F: +852 2314 8512 F: +971 6557 5076 E: [email protected] Genting International / Our Mission Financial Statements: INDIA www.worldcard.com.hk Genting India Travel Services Pte Ltd * CHINA Corporate Profile 1 Consolidated Income Statements 30 510, Churchgate Chambers Adriana Limited # WORLDCARD MALAYSIA 5th Floor, 5 New Marine Lines Road Tribute to Our Founder, the late Tan Sri (Dr.) Lim Goh Tong 2 Balance Sheets 31 Unit 09, 16th Floor No. 8 Kuai Ji Ld, 19th Floor, Wisma Genting Mumbai 400020, India HuangPu District 28, Jalan Sultan Ismail Bringing You The Best 4 Consolidated Statements of Changes in Equity 32 T: +91 22 2264 0383 Jin Tian Di International Plaza 50250 Kuala Lumpur F: +91 22 2264 0383 Shanghai, China Malaysia Genting Premier Brands 5 Statements of Changes in Equity 33 T: +86 6326 3866 / 6326 3626 T: +603 2179 1888 Genting India Travel Services Pte Ltd * F: +86 6326 3727 F: +603 2333 6611 Corporate Diary 6 Consolidated Cash Flow Statement 34 1518, 15th Floor, Ansal Tower E: [email protected] 38, Nehru Place INDONESIA www.worldcard.com.my Corporate Information 8 Notes To The Consolidated Cash Flow Statement 35 New Delhi 110019, India Adriana Limited # T: +91 11 2629 5674 Jl.lr.H.Juanda III No 29B, Lt.3 WORLDCARD SINGAPORE Directors’ Profile 9 Notes To The Financial Statements 37 F: +91 11 2629 5673 Jakarta Pusat 10120, Indonesia #13-10 Park Mall T: +62 21 351 9041 9 Penang Road Senior Management Team 11 Independent Auditors’ Report 71 SINGAPORE F: +62 21 386 3506 Singapore 238459 Genting International (S) Pte Ltd * T: +65 6720 0888 Chairman’s Statement 12 Analysis of Shareholdings 72 #11-18 Park Mall, 9 Penang Road Adriana Limited # F: +65 6720 0866 Singapore 238459 Building King’s Star Travel E: [email protected] Review of Operations 16 Group Offices T: +65 6823 9888 Add. Letjend Suprapto No. 2-N www.worldcard.com.sg F: +65 6823 9878 Medan 20151 - Indonesia Corporate Governance 23 E: [email protected] T: +62 61 451 1705 F: +62 61 452 2649 Report of Directors 27 THAILAND Genting International (Thailand) Ltd * Adriana Limited # 153, Lot No. 400, 4th Floor JL. Indragiri 12 - 18 Blok A9 The Peninsula Plaza Surabaya 60241 Radjadumri Road, Lumpini, Patumwan East Java-Indonesia Cover & Photos Bangkok 10330, Thailand The cover depicts the presence of Genting International as a leading global gaming company and one of the world’s leading integrated resorts specialists. Genting T: +62 31 561 4161 International provides international sales and marketing services to the Genting Highlands Resort and marketing of Genting Group’s loyalty card programmes. T: +662 254 0753 / 54 / 55 F: +62 31 561 4220 F: +662 254 0768 * Sales Office ^ Branch Office # Representative Office Genting International P.L.C. Annual Report 2007 1 CORPORATE PROFILE www.gentinginternational.com Genting International P.L.C. (“Genting International”) is a leading Its principal activities are: integrated resorts development specialist with over 20 years of • Development of integrated resorts international gaming expertise and global experience in developing, • Casino operations operating and/or marketing internationally acclaimed casinos and • International sales and marketing services integrated resorts in different parts of the world, including Australia, the • IT application related services Americas, Malaysia, the Philippines and the United Kingdom (“UK”). Genting International has an experienced management team that is It is a subsidiary of Genting Berhad and was incorporated in 1984 to focused on and committed to grow its business globally through invest in leisure and gaming-related businesses outside Malaysia. strategic acquisitions, investments and collaborations. The Group has Genting Group is a collective name for Genting Berhad and its casino properties under UK-based Genting Stanley and is developing subsidiaries and associates. Genting Group is one of Asia’s leading and Resorts World at Sentosa, the integrated resort in Sentosa, Singapore. best managed multinationals. The Group is renowned for its strong management leadership, financial prudence and sound investment Genting International is constantly reviewing new opportunities in the discipline. leisure, hospitality and gaming businesses. Genting International is listed on the Main Board of the Singapore Exchange Securities Trading Limited (“Singapore Exchange”). 2 Genting International P.L.C. Annual Report 2007 4 Genting International P.L.C. Annual Report 2007 bringing you the best in... theme parks & attractions • gaming experience • international shows mega meetings & incentive venues • spa & relaxation • dining pleasure Genting International P.L.C. Annual Report 2007 5 6 Genting International P.L.C. Annual Report 2007 CORPORATE DIARY 2007 10 January 2 April Announcement of the submission of an application to the Luxembourg Notice to shareholders of the Twenty-Second Annual General Meeting. Stock Exchange (“LuxSE”) for the de-listing of the shares of the Company on the Euro MTF Market of the LuxSE. 5 April Announcement on the change of basis of measurement under Rules 15 January 905 and 906 of the Listing Manual from net tangible asset to net asset Listing of the S$425 million Convertible Bonds due 2012 on the value. Singapore Exchange. 17 April 22 January Announcement of the issuance of S$450 million Convertible Bonds due Announcement of the Shareholders’ Agreement entered into between 2012. the Company’s wholly-owned subsidiary, Genting Star Limited (“GSL”) and Star Cruises Limited (“SCL”)’s wholly-owned subsidiary, Star 25 April Cruises Asia Holding Limited (“SCAHL”) on 16 January 2007 in relation Twenty-Second Annual General Meeting. to the management and operation of New Orisol Investments Limited, a joint venture company which is owned 25% by GSL and 75% by 27 April SCAHL. Listing of the S$450 million Convertible Bonds due 2012 on the Singapore Exchange. 31 January Announcement of the use of proceeds from the issuance of the S$425 11 May million Convertible Bonds due 2012. Notice to shareholders of the Extraordinary General Meeting (“EGM”) on the Proposed Acquisition. 9 February Announcement of the change of Auditors from 13 May PricewaterhouseCoopers (“PwC”) Hong Kong to PwC Singapore. Release of the Consolidated Results of the Group for the first quarter ended 31 March 2007. 23 February Release of the Consolidated Results of the Group for the financial year 28 May ended 31 December 2006. EGM in respect of the Proposed Acquisition. 3 March 29 May Announcement of the divestment by the Company of its investments in Announcement of the following: New Orisol Investments Limited. (a) Completion of the acquisition by SEHL of SCL’s 25% interest in RWSentosa. 4 March (b) The use of proceeds from the issuance of the S$450 million Announcement of the Proposed Acquisition of SCL’s investments in Convertible Bonds due 2012. Resorts World at Sentosa Pte Ltd (“Proposed Acquisition”). 28 June 22 March Announcement of the proposed Underwritten Rights Issue of shares Announcement of the following: and amendments to the existing rules of the Genting International (a) De-listing of the shares of the Company from the Euro MTF Market Public Limited Company Employee Share Option Scheme (“ESOS”). of the LuxSE with effect from 22 March 2007. (b) Changes to UK Gaming Duty Bands and Rates with effect from 29 June 1 April 2007.
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