Corporate History

Shun Tak Holdings Limited, In response to the growth of the In a strategic move to strengthen established in 1972 and listed on Southern China and its shipping division and expand the economies in the 1980s, STE market share, the Group successfully since 1973, is a leading initiated a long-term programme of merged its shipping operations with Hong Kong-based conglomerate diversification, first into tourism- those of CTS-Parkview Holdings operating three core businesses – related industries, such as hotels Limited in 1999. The combined shipping, hospitality and property. and restaurants, and then into real entity is operated and managed by estate. Through its interest in major the joint venture company, Shun Tak The Group’s shipping division is commercial, residential and retail – China Travel Shipping Investments historically the foundation of its property developments, including Ltd., under the trade name growth. The Group’s origins date The Belcher’s and Liberté “TurboJET”. back to 1961 when its major development projects, the Group is shareholder, Shun Tak Shipping a key player in the property market Today, the Group owns one of the Company, Limited (“STS”), was in Hong Kong. largest fleets of high-speed founded. In a pioneering move, STS passenger ferries in Asia. The fleet inaugurated ferry service between In 1990, STE changed its name to provides passengers with fast, Hong Kong and the Shun Tak Holdings Limited to better comfortable and reliable service following year after the Macau reflect the diversity of its activities. between Hong Kong and Macau, government granted an exclusive Two years later, the Group acquired Shenzhen and Guangzhou. casino franchise to Sociedade de a 5% stake in STDM, the enterprise Turismo e Diversões de Macau, behind Macau’s dynamic Shun Tak employs more than S.A.R.L. (“STDM”). Shun Tak development. STDM owns an 80% 2,000 people in Hong Kong and Enterprises Corporation (“STE”), equity interest in Sociedade de Macau and has established forerunner of the present company, Jogos de Macau, S.A. which has itself as one of the leading was formed in 1972 to operate signed a new gaming licence with conglomerates operating in the high-speed vessels on the route the Macau SAR Government since Pearl River Delta. through its subsidiary, Far East the opening up of the gaming Hydrofoil Co., Ltd. industry in early 2002.

Shun Tak Holdings Limited Annual Report 2001 3