The Hong Kong Jockey Club Jockey Hong Kong The Annual Report for the year ended 30 June 2009 二○○九年六月三十日止年度年報 香港賽馬會 Annual Report for the year ended 30 June 2009 二 ○○ 九年六月三十日止年度年報 香港賽馬會 香港跑馬地體育道壹號 The Hong Kong Jockey Club One Sports Road, Happy Valley Hong Kong T: 2966 8111 F: 2890 2946 www.hkjc.com This publication uses paper originating from well-managed forests and controlled/recycled wood 此印刷品紙張源自管理完善的森林及受控/再循環木材 To be a world leader in the provision of horse racing, sporting and betting entertainment, and Hong Kong’s premier charity and community benefactor. Vision 致力提供世界最高水平的賽馬、體育及博彩娛樂，同時 目標 維持全港最大慈善公益資助機構的地位。 To provide total customer satisfaction through meeting the expectations of all Club customers and stakeholders – the racing and betting public; lottery players; Club Members; charities and community organisations; Government; and, ultimately, the people of Hong Kong – and thereby be one of Hong Kong’s most respected organisations. Mission 竭誠令顧客百分百滿意，對於賽馬觀眾、投注人士、獎 使命 券投注者、本會會員、慈善機構、公益團體、香港政 府，以至全港市民，都不能有負所望，務必置身全港最 備受推崇機構之列。 Annual Report photos by The Hong Kong Jockey Club • Stewards and Management portraits by Bobby Lee • Designed by Lilian Design Tang Limited CONTENTS 目錄 HONG KONG JOCKEY CLUB ANNUAL REPORT 2008/09 二○○八／○九年香港賽馬會年報 3 Financial Year Performance Highlights, 財政年度業績概覽、慈善撥款及稅務貢獻 Charitable Appropriation and Tax Contribution 4 Board of Stewards 董事局 5 Chairman’s Statement 主席報告 10 Chief Executive Officer’s Statement 行政總裁報告 17 Hong Kong Jockey Club Organisation 香港賽馬會組織架構 FEATURE STORIES 專題報導 Healing Four feature Sichuan stories on the Club’s 四川重建 contribution to p 26 charitable projects 四篇專題 and job preservation 報導詳述馬會在 and creation 慈善項目及 Hong Kong’s 保職創職 Olympic 各方面之貢獻 Working服 務 香 港 Legacy p 18 continues for 傳承奧運精神在香港 p 30 Hong A watchful eye on Kong Hong Kong’s future 關心香港 關注未來 p 34 REVIEW OF OPERATIONS 業務回顧 68 Cathay Pacific Hong Kong International Races 國泰航空香港國際賽事 80 Bulls to the fore as Ox Year welcomed in 牛氣沖天迎新歲 90 Mercedes-Benz Hong Kong Derby Mercedes-Benz香港打吡大賽 94 Audemars Piguet QE II Cup & Champions Mile 愛彼錶女皇盃及冠軍一哩賽 110 Awards and Honours 獎項及榮譽 115 Donations 年內捐款 FINANCIAL REPORT 財務報告 124 Financial Review 財務概況 130 Group Accounts and Statistics 集團賬項及統計數字 176 Trust Accounts 慈善信託基金賬項 Customers We provide customers with the best innovative value-for-money experience in the leisure and entertainment market. 以客為尊 我們為顧客提供優質、具創意和物有所值的體驗 Community We place contribution to the community at the heart of our efforts, adhering to the highest standards in all we do. 貢獻社會 我們竭力貢獻社會，服務力求超凡卓越 Integrity We practise the highest standards of ethical behaviour and processes. 堅守誠信 我們遵持高尚品行操守，處事有序 People We treat each other fairly and with respect. We recognise each other’s merits and encourage everyone to be the best they can at what they do. 以人為本 我們莊敬自強，待人持平，勵精奮勉 核心價值成就同一馬會、同一團隊、同一目標 Leadership We influence positive change and get things done, leading by example and taking initiatives to improve performance. 領導統御 我們以身作則，精益求精，全力以赴，優化業務 Teamwork We work together to achieve the Club’s goals, encourage open discussions, and support those that take the lead. 團隊精神 我們攜手合作，秉承信念，共商灼見，擁隨先驅 Quality We establish and achieve clear and sustainable standards for all our products, services and processes while committing to continuous improvements. 力求優化 我們訂定清晰和可持續標準，提供優質服務 Business Sustainability and Innovation We strive to achieve sustainable growth through innovation and measured risk-taking. We take up new challenges and opportunities that drive the business while managing our impact on the environment. 持續和創新 我們推陳出新，與時並進，審時度勢，勇迎 挑戰，保護環境，持續發展 2 2008/09 FINANCIAL YEAR PERFORMANCE HIGHLIGHTS, CHARITABLE APPROPRIATION AND TAX CONTRIBUTION 二○○八／○九財政年度業績概覽、慈善撥款及稅務貢獻 Group Turnover (HK$M) Distribution of Betting and Lottery Amounts 集團營業額（百萬港元） Wagered by Customers (HK$M) 投注額及獎券營業額分配（百萬港元） Racing 67,653 賽馬 Football Betting 35,108 足球博彩 81.5% Dividends 彩金 Mark Six Lottery 6,429 六合彩 Betting and Other Revenue Lottery Revenue 1,789 其他收益 博彩及獎券收益 Note: Group turnover comprises amounts wagered on racing, football betting and the Mark Six lottery, as well as other revenue. 18.5% 備註：集團營業額包括賽馬、足球博彩及六合彩獎券投注總額以及其他收益。 110,979 Total 總和 109,190 Total 總和 Distribution of Betting and Lottery Revenue (HK$M) Appropriation to HKJC Charities Trust (HK$M) 博彩及獎券收益分配（百萬港元） 撥款予香港賽馬會慈善信託基金（百萬港元） Betting Duty and HKJC Horse Race Betting Limited Profits Tax paid to 110 Hong Kong SAR 香港馬會賽馬博彩有限公司 64.4% Government HKJC Football Betting Limited 向香港特別行政區政府 370 香港馬會足球博彩有限公司 繳納的博彩稅及利得稅 HKJC Lotteries Limited Club Operations 20 香港馬會獎券有限公司 馬會營運成本 Lotteries Fund 4.2% 獎券基金 4.8% 26.6% Available for Charities 留作慈善用途 20,144 Total 總和 500 Appropriation 撥款 Betting Duty and Profits Tax paid to Government (HK$M) 向政府繳納的博彩稅及利得稅（百萬港元） Horse Race Betting Duty Note: Horse race betting duty includes 8,228 賽馬博彩稅 approximately $45 million duty generated by bets from Macau. Football Betting Duty 備註：繳納的賽馬博彩稅包括約四千五百萬港元澳門 2,900 足球博彩稅 單邊投注所產生的博彩稅。 Lottery Duty 1,607 獎券博彩稅 Profits Tax 241 利得稅 12,976 Total contribution 稅款總和 3 BOARD OF STEWARDS 董事局 Mr John C C Chan Mr T Brian Stevenson Mr Simon S O Ip Mr Anthony W K Chow GBS JP SBS JP CBE JP SBS JP Chairman Deputy Chairman 葉錫安先生 周永健先生 陳祖澤先生（主席） 施文信先生（副主席） Mr Christopher Cheng Dr Donald K T Li Mr Lester C H Kwok Mr Michael T H Lee Wai Chee JP JP 利子厚先生 GBS JP 李國棟醫生 郭志桁先生 鄭維志先生 Mr Philip N L Chen Mr Stephen Ip Shu Kwan Mr Iain F Bruce Dr Rita Fan Hsu Lai Tai SBS JP GBS JP 布魯士先生 GBM GBS JP 陳南祿先生 葉澍堃先生 范徐麗泰博士 4 CHAIRMAN’S STATEMENT 主席報告 Surmounting challenges to do what is right hen we started the 2008/09 share of gross margin falling by some 3.9% to season in a blaze of opti- HK$6.37 billion, despite total turnover showing mism last summer, none of us only a marginal 0.14% fall to HK$108.36 billion. could have foreseen the global It is significant that while our horse racing Weconomic meltdown that was lurking just operations recovered from a worrying early around the corner. The Hong Kong Jockey dip to show only a small drop in turnover, and Club, like business operators worldwide, was football betting turnover actually recorded by no means immune to its impact, and a year a slight increase, our share of gross margin that had promised to reach exciting new heights declined in both cases. turned out instead to be one of considerable challenge. More worrying still last season was a sharp fall in our investment income, in common with all Yet, in the final count, we can still look back on global investors. As a result of these various an encouraging year in which much positive factors, our surplus after tax fell sharply from progress was made on a number of different HK$3.27 billion in 2007/08 to just HK$707 fronts, thanks in no small part to the determi- million last year, and we were only able to nation and “can do” spirit of our management make an appropriation of HK$500 million to and employees. Perhaps most important The Hong Kong Jockey Club Charities Trust, of all, we not only main- compared with HK$1.78 billion in 2007/08. We played a key role in Hong Kong’s staging of the equestrian events of the Beijing 2008 tained our donations In these circumstances, it would have been easy Olympics and Paralympics, which attracted to charitable and to respond by cutting back on our charitable worldwide attention and praise; our world-class commitments, but that would have meant horse racing broke further new ground interna- community projects, but letting down our many hundreds of commu- tionally; we made an important contribution to increased them to a nity beneficiaries at just the time when they preserving and creating jobs in Hong Kong at a needed our support the most. The Club has very difficult time; and perhaps most important record HK$1.37 billion. a long tradition of standing by the people of of all, we not only maintained our donations Hong Kong at times of challenge, and as a to charitable and community projects, but not-for-profit organisation, is better placed increased them to a record HK$1.37 billion. than most to respond in an anti-cyclical way. Our Charities Trust has therefore increased All this happened despite some heavy pressure its donations by some 30%, which has meant on our bottom line results, with the Club’s dipping into its reserves. 5 Clearly, however, we cannot allow duty would help us a situation of structural deficit to keep more betting prevail in the long term, and we dollars in Hong Kong have to find ways of ensuring that and preserve and our business remains sustainable create employment, and profitable over the years to which must be to come – especially our core business everyone’s benefit. of horse racing, which underpins all our contributions to Government The rapidly growing income and to the community, as impact of Macau well as our status as one of Hong and other gambling Kong’s largest employers. destinations in the region can no longer It was with this in mind that we be ignored. A recent asked Government last year to survey commis- reconsider granting us five extra sioned by the Club racedays and an additional 20 indicated that Hong overseas simulcast days per season. Kong citizens account This was not in fact a new request, for some 40% of all as it had been part of the original casino spending in package we put forward to Govern- Macau, and lost more ment when proposing a reform of the horse than HK$20 billion at Macau’s casinos in 2008. race betting duty structure four years ago.