Corporate Profile 集團概要

Corporate Profile 集團概要 The Great Eagle Group is one of Hong Kong’s leading property and hotel companies, with an experienced management team known for its track record in evaluating and capitalising on cycles in property markets. Headquartered in Hong Kong, the Group develops, invests in and manages high quality office, retail, residential and hotel properties in Hong Kong, North America and Europe. Its core commercial properties comprise 1.59 million square feet of Grade-A office space in the prime commercial districts of Hong Kong. It is also developing a 1.76 million square feet office, retail and hotel complex in the prime shopping district of Mongkok, Kowloon. In the United States, it owns or has investment interests in four office buildings with a total floor area of 784,000 square feet. The Group’s extensive hotel portfolio currently comprises seven properties with over 4,000 rooms, including two Great Eagle branded (re-branded as Langham Hotels International in February 2003) and managed hotels in Hong Kong and five luxury hotels in London, Toronto, Boston, Melbourne and Auckland managed by a variety of leading hotel names. An experienced asset management team from Great Eagle oversees the portfolio to enhance performance. The Group is also active in property management and maintenance services as well as building materials trading. The Group was founded in 1963 in the form of The Great Eagle Company, Limited, which listed on the Hong Kong Stock Exchange in 1972. In 1990, Great Eagle Holdings Limited, a company incorporated in Bermuda, became the listed company and holding company of the Group. The Group had a net profit of HK$589 million (approximately US$76 million) in financial year 2002 and a net asset value of HK$14,604 million (approximately US$1,873 million) as of 31st December 2002. 鷹君集團為香港大型地產商及酒店公司。管理層經驗豐富，尤精於評估及掌握市場走勢，往績優良。集團總部設於香港，業務以發展、投資及管理優質寫字樓、商場、住宅及酒店物業為主，遍及香港、北美及歐洲。其主要商用物業為座落商業旺區之甲級寫字樓，面積達一百五十九萬平方呎。集團正於九龍旺角繁盛購物區發展總面積達一百七十六萬平方呎之寫字樓、商場及酒店綜合建設。於美國亦擁有四幢寫字樓物業之投資權益，總面積為七十八萬四千平方呎。集團之酒店物業遍及世界各地，現時共有七間酒店，客房數目逾四千。其中兩間香港酒店由鷹君以本身品牌命名（於二零零三年二月已易名為朗廷酒店國際集團）及直接管理。其他五間位於倫敦、多倫多、波士頓、墨爾砵及奧克蘭，則由不同著名酒店集團管理，並由鷹君內部幹練人員負責監察，以增強業績。集團其他業務包括物業管理及維修，及建築材料貿易。集團原以鷹君有限公司為首，於一九六三年創立，並於一九七二年在香港交易所上市。一九九零年，由百慕達註冊之鷹君集團有限公司取代其上市地位並成為集團控股公司。二零零二年財政年度，集團純利為五億八千九百萬港元（約七千六百萬美元），及於二零零二年十二月三十一日資產淨值為一百四十六億零四百萬港元（約十八億七千三百萬美元）。 P 2 Corporate Information P 3 公司資料 P 4 Financial Highlights P 4 財務摘要 P 8 Chairman’s Statement P 96 主席報告書 P 18 Biographical Details P 106 董事及高層管理 of Directors and 人員簡介 Senior Management Contents P 22 Report of the Directors P 109 董事會報告書目 P 30 Notice of 2003 P 117 二零零三年 Annual General Meeting 股東週年大會通告錄 P 33 Consolidated Income P 120 綜合收益表 Statement P 34 Balance Sheets P 121 資產負債表 P 36 Consolidated Statement P 123 綜合權益變動表 of Changes in Equity P 37 Consolidated Cash Flow P 124 綜合現金流量表 Statement P 39 Notes to the Financial P 126 財務報告說明 Statements P 86 Appendices P 173 附錄 P 92 Report of the Auditors P 179 核數師報告書 P 93 Shareholders’ Calendar P 180 股東時間表 Corporate Information 公司資料 Directors Solicitors Hong Kong Branch Registrars LO Ying Shek, Johnson, Stokes & Master Computershare Hong Kong Investor Chairman and Managing Director Clifford Chance Services Limited LO TO Lee Kwan 17th Floor, Hopewell Centre LO Ka Shui, Auditors 183 Queen’s Road East Deputy Chairman and Deloitte Touche Tohmatsu Wanchai Managing Director Hong Kong LO Kai Shui, Secretary Registered Office Deputy Managing Director TSANG Yiu Wing, Peter Brian Shane McELNEY Cedar House CHENG Hoi Chuen, Vincent Principal Registrars 41 Cedar Avenue WONG Yue Chim, Richard Butterfield Fund Services (Bermuda) Hamilton HM12 LEE Pui Ling, Angelina Limited Bermuda LO Hong Sui, Antony Rosebank Centre LAW Wai Duen 11 Bermudiana Road Principal Office LO Hong Sui, Vincent Pembroke HM08 33rd Floor, Great Eagle Centre LO Ying Sui, Archie Bermuda 23 Harbour Road KAN Tak Kwong Wanchai Hong Kong Principal Bankers The Hongkong and Shanghai Website Banking Corporation Limited http://www.greateagle.com.hk Bank of China (Hong Kong) Limited Citibank, N.A. Hang Seng Bank Limited P 2 Great Eagle Holdings Limited Financial Highlights 財務摘要 For the year ended 31st December 2002 截至二零零二年十二月三十一日止年度 2002 2001 HK$’000 HK$’000 Change % 港幣千元港幣千元變動 Turnover 營業額 2,569,540 2,677,251 -4% Profit before taxation 除稅前溢利 739,487 646,321 14% Profit attributable to shareholders 可撥歸股東溢利 589,444 507,299 16% Earnings per share 每股盈利 $1.02 $0.90 13% Dividend per share 每股股息 $0.15 $0.21 -29% Shareholders’ funds 股東權益 14,603,844 15,123,245 -3% Fixed assets 固定資產 28,162,019 27,809,250 1% Total assets 資產總值 29,134,597 29,021,639 0% Employment of Assets 資產運用 For the year ended 31st December 2002 截至二零零二年十二月三十一日止年度 Assets Employed Financed by 資產代表 (Total Assets HK$29,135 Million) (資產總值港幣29,135百萬元) Local Investment Shareholders’ Funds 20% Properties 股東權益本地投資物業 38% Non-current Liabilities Overseas Investment 50% 非流動負債 30% Properties 海外投資物業 Minority Interests 50% 少數股東權益 Other Assets 其他資產 10% Current Liabilities 2% 流動負債 Profit from Operations Profit Attributable to Shareholders 經營溢利可撥歸股東溢利 (HK$1,080 Million) (港幣1,080百萬元) HK$ Million 港幣百萬元 1,200 Rental Income 租金收益 1,000 38% Hotels Operation Income 800 酒店經營收入 60% 600 Others 其他 2% 400 200 Year 0 年份 98 99 00 01 02 (15 months) (十五個月) Annual Report 2002 P 5 We see quality as the key factor to success Chairman’s Statement During 2002, our hotel business in Hong Kong performed ahead of expectations with improved yields and better income. Otherwise the Group’s businesses, both local and overseas, continued to operate under difficult market conditions. Generally lower interest rates however have helped cushion the decline in our overall income. P 8 Great Eagle Holdings Limited Operations Review 1. Rental Properties Hong Kong Rental Properties (a) Rental Income for the year ended 31st December 2002 Gross Floor Area (sq.ft.) Gross Rental Group’s Parking Income Interest Office Commercial Residential Spaces (HK$million) Citibank Plaza 85.93% 968,000 49,000 – 537 359.5 100% 70,000 – – 3 28.5 Acquired in 2001 100% 232,500 380 – 15 132.8 Great Eagle Centre 100% 193,000 77,000 – 296 67.5 Astor Plaza 100% – 70,000 – – 0.1 Concordia Plaza 100% 28,000 – – 5 4.9 Convention Plaza Apartments 100% – – 10,000 – 3.3 596.6 (b) Occupancy and Rental Trend Occupancy at 31st December 2002 Office Commercial Residential Citibank Plaza 85.1% 100.0% – Great Eagle Centre 94.2% 98.4% – Astor Plaza – 34.7%* – Concordia Plaza 100.0% – – Convention Plaza Apartments – – 100.0% * Substantial portions of this arcade are being converted into banquet and function rooms for Eaton Hotel Annual Report 2002 P 9 Chairman’s Statement The Grade-A office market in Hong with an increased occupancy of Kong weakened further during 2. 83% (2001: 79%), while 2002. Despite a low level of new Hotels and Furnished maintaining average room rate supply, the continued downsizing of Apartments levels at HK$823 (2001: HK$829). corporations, especially in the The impact of the September 11 Net operating income for 2002 financial sector, released a incident and the global economy grew 13.4% over the previous year. substantial amount of redundant downturn continued to weigh The hotel will be renamed Langham spaces, pushing overall vacancy down the industry’s performance Hotel in October 2003. rates into double-digits. Effective overall, especially from the long rent rates also went down fairly haul leisure markets of the USA and Eaton Hotel, Hong Kong significantly as a result. Europe. Business travel also saw little growth momentum, resulting The growth in visitors from the Net rental income from our Hong in continued softness in room rates China market and the perception of Kong rental portfolio decreased by a for the overseas hotels. Hong Kong as a safe destination modest 7.1% from $597.1 million strengthened the leisure market in 2001 to $554.5 million in 2002. The Hong Kong hotel market segment in 2002. For the year the The portfolio’s income benefited by performed relatively better due to hotel maintained a high occupancy the full-year accounting of income increased tourist arrivals from at 83.5% (2001: 84.6%) and from the office space purchased Mainland China, which filled up the improved the average room rate to from Citibank in mid-2001. lower end market and in turn HK$443 (2001: $426). U.S. Rental Properties benefited the high end hotels. Further relaxation in travel Net operating income of the Hotel The continued softening of the restrictions and increasing affluence jumped 40.3% in 2002 mainly due California office markets resulted in on the Mainland are likely to have to a 22% increase in food and lower occupancy and lower rental major positive impact in the coming beverage revenue, brought about rates. As a result revenues in 2002 years. by a strategic decision to focus on were 18.4% less than in 2001. The banqueting services. Additional properties in the San Francisco Bay In February 2003, the Group’s hotel portions of Astor Plaza underneath Area were particularly hurt by the management division Great Eagle the Hotel have been or are being decline of the dot.com industry, Hotels International was re-branded converted into banqueting facilities which had resulted in the as Langham Hotels International, and function to further enhance its bankruptcy of a number of tenants. after the prominent Langham Hotel local banqueting, meeting and The property at 888 West Sixth owned by the Group in West End conference business in 2003. Street Los Angeles, which became London. This new brand name, with Eaton House Furnished 100%-owned in June 2002, its prestigious quality image, will set Apartment, Hong Kong performed well with improved the benchmark for the Group’s occupancy of 94%.

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