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Annual Report 2009
NWS HOLDINGS LIMITED NWS Holdings Limited (incorporated in Bermuda with limited liability) ANNUAL REPORT 2009 ANNUAL REPORT 28/F New World Tower 18 Queen’s Road Central Hong Kong Tel: (852) 2131 0600 Fax: (852) 2131 0611 E-mail: [email protected] Sustaining Growth www.nws.com.hk Striving for Excellence NWS Holdings Limited takes every practicable measure to conserve resources and minimize waste. NWS HOLDINGS LIMITED This annual report is printed on FSC certified paper using vegetable oil-based inks. Pulps used are elemental chlorine-free. ANNUAL REPORT 2009 The FSC logo identifies product group from well-managed forests and other controlled sources in accordance with the rules of the Forest Stewardship Council. STOCK CODE: 659 VISION To build a dynamic and premier group of infrastructure and service management companies driven by a shared passion for customer value and care MISSION Synergize and develop business units that: • Nurture total integrity • Attain total customer satisfaction • Foster learning culture and employee pride • Build a world-class service provider brand • Maximize financial returns CORE VALUES • Reputable customer care • Pride and teamwork • Innovation • Community contributions and environmental awareness • Stakeholders’ interest CONTENTS 2 CORPORATE PROFILE 4 MILESTONES 6 FINANCIAL HIGHLIGHTS 8 CHAIRMAN’S STATEMENT 10 BOARD OF DIRECTORS 14 CORPORATE GOVERNANCE REPORT 26 KEY INFORMATION FOR SHAREHOLDERS 30 HUMAN CAPITAL 32 COMMUNITY CARE 34 ENVIRONMENTAL FRIENDLINESS 36 MANAGEMENT DISCUSSION AND ANALYSIS 48 REPORTS AND FINANCIAL STATEMENTS 150 FIVE-YEAR FINANCIAL SUMMARY 152 PROJECT KEY FACTS AND FIGURES 164 GLOSSARY OF TERMS 166 CORPORATE INFORMATION CORPORATE PROFILE About NWS Holdings NWS Holdings Limited (“NWS Holdings” or the “Group”, Hong Kong stock code: 659) is the infrastructure and service flagship of New World Development Company Limited (Hong Kong stock code: 17). -
Placing 400 Million New Shares at HKD 25.25, Underlying Profit
Company Report: CR Land (01109 HK) Van Liu 刘斐凡 公司报告:华润置地 (01109 HK) +86 755 23976672 [email protected] 国泰君安研究 25 May 2015 Placing 400 million New Shares at HKD 25.25, Underlying Profit Revised up, Maintain fiBuyfl Research GTJA 以25.25港元配售4亿股,调高核心净利,维持“买入” Rating: Buy Maintained z CR Land (fithe Companyfl) plans to raise approximately HK$ 10.1 billion 评级: 买入 维持 by placing 400 million new shares at a price of HK$ 25.25 per placing ( ) share. The management intends to use the raised capital for further land acquisition, development costs and general working capital purposes. 6-18m TP 目标价: HK$29.40 Revised from 原目标价: HK$28.70 z Limited diluted effects with stronger balance sheet. As per our estimates, after the share placing completion, the underlying EPS will increase 0.3% due Share price 股价: HK$25.300 to the underlying profit being revised up and net gearing ratio will decrease 13.0 ppts in 2015E. Stock performance z Raised capital from share placing will help the Company’s land 股价表现 replenishment and new house set up plan acceleration, which is able to translate into earnings growth under the rebounding sales environment. 100.0 % of return z Maintain ‘Buy’. Raised capital from share pricing will help sales increase. 80.0 Expectations of loosening policies and southbound capital inflow with housing 60.0 sales rebound in April 2015 are likely to drive property companies’ valuation upside potential. We revise up the target price to HK$29.40, which represents 40.0 an 15% discount to revised 2015E NAV per share, 12.3x 2015 underlying 20.0 PER and 1.6x 2015 PBR. -
Building Envelopes and Facade Engineering Made by Seele Asia
building envelopes and facade engineering made by seele asia The seele group of companies, with headquarters near Munich in Germany, is one of the world’s top addresses for the design and construction of facades and complex building envelopes. The technology leader in facade construction was founded in 1984. 2 seele company Our customers benefit from our indepth knowledge of structures made content from glass, steel, timber or aluminum, unified in just one company. In order 2 company to measure up to our own standards we combine the development and 4 New World Centre manufacturing of our building materials with technological expertise and the 6 Apple Stores utmost individuality for unique creative concepts. 8 ICONSIAM luxury facade 10 ICONSIAM wisdom hall 12 MahaNakhon 14 Fendi Store 16 Chadstone Shopping Centre 18 seele headquarters 20 seele testing area 22 seele asia 23 seele projects in Asia seele 3 New World Centre, Hong Kong unique glass tube facade for the new world centre in hong kong. a highlight of the facade is the special LED technology in which the lights can be switched separately. 1 The space between inner and outer facade is encapsulated. Dried air can be supplied with slight overpressure so that no condensate or dirt is deposited on the glass tubes. 1 4 seele 2 3 4 2 Since the climatic and static requirements for a building in Hong Kong are particularly high, the local building authorities required static proofs, reports and two performance mock-ups. Due to the high compe- tence in testing, seele received the approval for the implementation of the glass tube facade. -
Powerlong Real Estate Holdings Limited 寶龍地產控股有限公司 (於開曼群島註冊成立之有限責任公司) (股份代號: 1238)
香港交易及結算所有限公司以及香港聯合交易所有限公司對本公佈的內容概 不負責,對其準確性或完整性亦不發表任何聲明,並明確表示,概不會就因本 公佈全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任 何責任。 本公佈或其任何副本概不得直接或間接在美國,或在刊發或派發本公佈屬違 法的任何其他司法權區內刊發或派發。 本公佈僅供參考,並不構成收購、購買或認購寶龍地產控股有限公司(「本公司」) 任何證券之邀請或要約。 本公佈不會直接或間接於或向美國(包括美國的領土及屬地、任何州以及哥倫 比亞特區)刊發、發行、派發。本公佈並不構成或組成在美國或提出有關要約 即屬違法的任何其他司法權區出售或游說購買或認購證券之任何要約的一部 分。本公佈所述的證券未曾且不會根據1933年美國證券法(經不時修訂,(「美 國 證券法」))或美國任何州證券法進行登記,在未登記或未獲適用豁免遵守登記 之情況下,不得在美國發售或出售。於美國公開發售任何證券將以招股章程形 式作出。該份招股章程將載列關於提呈發售的本公司以及其管理層及財務報 表的詳盡資料。本公司不會在美國公開發售證券。 POWERLONG REAL ESTATE HOLDINGS LIMITED 寶龍地產控股有限公司 (於開曼群島註冊成立之有限責任公司) (股份代號:1238) 海外監管公佈 本海外監管公佈乃根據香港聯合交易所有限公司(「聯交所」)證券上市規則(「上 市規則」)第 13.10B條而發表。 茲提述本公司日期為2020年 6 月 10日就發行新票據而發表的公佈(「該公佈」)。除 另有界定外,本公佈所用的全部詞彙與該公佈所界定者具有相同涵義。 – 1 – 董事會欣然宣佈,購買協議項下所有先決條件已獲達成,而發行新票據已於 2020年 6 月 17日完成。 請參閱隨附有關新票據的發售通函(「發售通函」),發售通函已於2020年 6 月 18日 同步在新交所網站刊登。 在聯交所網站登載發售通函僅為促進向香港投資者平等發佈信息以及遵守上 市規則第13.10B條,概無任何其他目的。發售通函並不構成向任何司法權區的 公眾人士要約出售任何證券的招股章程、通知、通函、冊子、公佈或文件,亦非 邀請或招攬公眾人士作出收購、認購或購買任何證券的要約,且並非刻意邀請 或招攬公眾人士作出收購、認購或購買任何證券的要約。發售通函不得視為勸 誘認購或購買本公司任何證券,亦不擬作出有關勸誘。不應根據發售通函所載 資料作出任何投資決定。 承董事會命 寶龍地產控股有限公司 主席 許健康 香港,2020年 6 月 19日 於本公佈日期,執行董事為許健康先生、許華芳先生、肖清平先生、施思妮女士 及張洪峰先生;非執行董事為許華芬女士;及獨立非執行董事為魏偉峰博士、 梅建平博士及丁祖昱博士。 – 2 – IMPORTANT NOTICE THIS OFFERING IS AVAILABLE ONLY TO INVESTORS WHO ARE PERSONS OUTSIDE OF THE U.S. IMPORTANT: You must read the following before continuing. The following applies to the offering circular following this page, and you are therefore advised to read this carefully before reading, accessing or making any other use of the offering circular. In accessing the offering circular, -
The Globalization of Chinese Food ANTHROPOLOGY of ASIA SERIES Series Editor: Grant Evans, University Ofhong Kong
The Globalization of Chinese Food ANTHROPOLOGY OF ASIA SERIES Series Editor: Grant Evans, University ofHong Kong Asia today is one ofthe most dynamic regions ofthe world. The previously predominant image of 'timeless peasants' has given way to the image of fast-paced business people, mass consumerism and high-rise urban conglomerations. Yet much discourse remains entrenched in the polarities of 'East vs. West', 'Tradition vs. Change'. This series hopes to provide a forum for anthropological studies which break with such polarities. It will publish titles dealing with cosmopolitanism, cultural identity, representa tions, arts and performance. The complexities of urban Asia, its elites, its political rituals, and its families will also be explored. Dangerous Blood, Refined Souls Death Rituals among the Chinese in Singapore Tong Chee Kiong Folk Art Potters ofJapan Beyond an Anthropology of Aesthetics Brian Moeran Hong Kong The Anthropology of a Chinese Metropolis Edited by Grant Evans and Maria Tam Anthropology and Colonialism in Asia and Oceania Jan van Bremen and Akitoshi Shimizu Japanese Bosses, Chinese Workers Power and Control in a Hong Kong Megastore WOng Heung wah The Legend ofthe Golden Boat Regulation, Trade and Traders in the Borderlands of Laos, Thailand, China and Burma Andrew walker Cultural Crisis and Social Memory Politics of the Past in the Thai World Edited by Shigeharu Tanabe and Charles R Keyes The Globalization of Chinese Food Edited by David Y. H. Wu and Sidney C. H. Cheung The Globalization of Chinese Food Edited by David Y. H. Wu and Sidney C. H. Cheung UNIVERSITY OF HAWAI'I PRESS HONOLULU Editorial Matter © 2002 David Y. -
Measuring Tourism Coopetition Networks of Scenic Villages: Case Study of Dapeng Peninsula
Copyright Undertaking This thesis is protected by copyright, with all rights reserved. By reading and using the thesis, the reader understands and agrees to the following terms: 1. The reader will abide by the rules and legal ordinances governing copyright regarding the use of the thesis. 2. The reader will use the thesis for the purpose of research or private study only and not for distribution or further reproduction or any other purpose. 3. The reader agrees to indemnify and hold the University harmless from and against any loss, damage, cost, liability or expenses arising from copyright infringement or unauthorized usage. IMPORTANT If you have reasons to believe that any materials in this thesis are deemed not suitable to be distributed in this form, or a copyright owner having difficulty with the material being included in our database, please contact [email protected] providing details. The Library will look into your claim and consider taking remedial action upon receipt of the written requests. Pao Yue-kong Library, The Hong Kong Polytechnic University, Hung Hom, Kowloon, Hong Kong http://www.lib.polyu.edu.hk MEASURING TOURISM COOPETITION NETWORKS OF SCENIC VILLAGES: CASE STUDY OF DAPENG PENINSULA YAO SUN PhD The Hong Kong Polytechnic University This programme is jointly offered by The Hong Kong Polytechnic University and Harbin Institute of Technology 2018 The Hong Kong Polytechnic University Department of Building and Real Estate Harbin Institute of Technology Shenzhen Graduate School Measuring Tourism Coopetition Networks of Scenic Villages: Case Study of Dapeng Peninsula Yao SUN A thesis submitted in partial fulfillment of the requirements for the degree of Doctor of Philosophy January 2018 CERTIFICATE OF ORIGINALITY I hereby declare that this thesis is my own work and that, to the best of my knowledge and belief, it reproduces no material previously published or written, nor material that has been accepted for the award of any other degree or diploma, except where due acknowledgement has been made in the text. -
Haikou Is a Tropical Coastal City, Situated on the Northern Coast of Hainan, by the Mouth of the Nandu River
Haikou is a tropical coastal city, situated on the northern coast of Hainan, by the mouth of the Nandu River. The northern part of the city is Haidian Island, which is separated from the main part of Haikou by the Haidian River, a branch of the Nandu. Haikou was originally a port city. Today, it’s the capital of Hainan province and the most populous city in the province. The city covers 2,280 square kilometers and is home to around 2 million inhabitants. Haikou is on the northern edge of the torrid zone, and is part of the inter-tropical Convergence Zone. April to October is the active period for tropical storms and typhoons, most of which occur between August and September. May to October is the rainy season with the heaviest rainfall occurring in September. Despite its location, the city has a humid subtropical climate, falling just short of a tropical climate, with strong monsoonal influences. Nevertheless, the area has hot summers and warm winters, usually with high humidity. Extremes temperatures have ranged from 2.8 to 39.6 °C (37 to 103 °F) From June to October torrential rains may occur, with 7.0 days annually receiving at least 50 mm (1.97 in) of rain; this period accounts for nearly 70 percent of the annual rainfall of 1,650 mm (65 in). With monthly percentage of possible sunshine ranging from 31% in February to 61% in July, the city receives 2,070 hours of bright sunshine annually. Haikou is a transport hub with flights to many cities and boats to nearby mainland cities such as Beihai and Zhanjiang. -
Insar Reveals Land Deformation at Guangzhou and Foshan, China Between 2011 and 2017 with COSMO-Skymed Data
remote sensing Article InSAR Reveals Land Deformation at Guangzhou and Foshan, China between 2011 and 2017 with COSMO-SkyMed Data Alex Hay-Man Ng 1,2 ID , Hua Wang 1,*, Yiwei Dai 1, Carolina Pagli 3, Wenbin Chen 1, Linlin Ge 2, Zheyuan Du 2 and Kui Zhang 4 1 Department of Surveying Engineering, Guangdong University of Technology, Guangzhou 510006, China; [email protected] (A.H.-M.N.); [email protected] (Y.D.); [email protected] (W.C.) 2 School of Civil and Environmental Engineering, UNSW Australia, Sydney 2052, Australia; [email protected] (L.G.); [email protected] (Z.D.) 3 Department of Earth Sciences, University of Pisa, Pisa 56100, Italy; [email protected] 4 School of Communication Engineering, Chongqing University, Chongqing 400044, China; [email protected] * Correspondence: [email protected]; Tel.: +86-135-7001-9257 Received: 23 April 2018; Accepted: 23 May 2018; Published: 24 May 2018 Abstract: Subsidence from groundwater extraction and underground tunnel excavation has been known for more than a decade in Guangzhou and Foshan, but past studies have only monitored the subsidence patterns as far as 2011 using InSAR. In this study, the deformation occurring during the most recent time-period between 2011 and 2017 has been measured using COSMO-SkyMed (CSK) to understand if changes in temporal and spatial patterns of subsidence rates occurred. Using InSAR time-series analysis (TS-InSAR), we found that significant surface displacement rates occurred in the study area varying from −35 mm/year (subsidence) to 10 mm/year (uplift). The 2011–2017 TS-InSAR results were compared to two separate TS-InSAR analyses (2011–2013, and 2013–2017). -
Es42010141112p1.Indd.Ps, Page 70 @ Preflight ( Es42010141112
2010 年第 11 期憲報第 4 號特別副刊 S. S. NO. 4 TO GAZETTE NO. 11/2010 D1457 G.N. (S.) 12 of 2010 TRAVEL AGENTS ORDINANCE (Chapter 218) Pursuant to Regulation 4(1) of the Travel Agents Regulations made under the above Ordinance, it is hereby notified that as at 28 February 2009 the following persons were registered and licensed to carry on business as travel agents:— (A) Licence issued to body corporate:— Name of Travel Agent Licence (Name of Licensee) Business Address Licence No. issued on Period STL 6/F., EAST WING, WARWICK HOUSE, 350001 01.02.2009 12 Months (SWIRE TRAVEL LTD.) TAIKOO PLACE, 979 KING’S ROAD, QUARRY BAY, HONG KONG. G E T L / G E H UNITS 1602-3, TOWER 1, SILVERCORD, 350003 01.08.2008 12 Months (GREAT EASTERN TOURIST 30 CANTON ROAD, TSIMSHATSUI, LTD.) KOWLOON. TIGLION TRAVEL ROOM 902, 9/F., YUE XIU BUILDING, 350005 01.02.2009 12 Months (TIGLION TRAVEL SERVICES 160-174 LOCKHART ROAD, HONG KONG. CO. LTD.) P C TOURS & TRAVEL A2, 3/F., NEW MANDARIN PLAZA, 350007 01.08.2008 12 Months (P C TOURS & TRAVEL 14 SCIENCE MUSEUM ROAD, LIMITED) TSIMSHATSUI EAST, KOWLOON. MST ROOM 202, 2/F., BLOCK 1, ENTERPRISE 350018 01.02.2009 12 Months (MORNING STAR TRAVEL SQUARE, NO. 9 SHEUNG YUET ROAD, SERVICE LTD.) KOWLOON BAY, KOWLOON. CANTRAVEL LIMITED 14/F., YAT CHAU BUILDING, 262 DES 350024 01.11.2008 12 Months (-Ditto-) VOEUX ROAD CENTRAL, SHEUNG WAN, HONG KONG. H. M. T. ROOM 2101-2102, 21/F., WING ON HOUSE, 350027 01.02.2009 12 Months (HUA MIN TOURISM CO. -
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Advances in Social Science, Education and Humanities Research, volume 347 3rd International Conference on Economic Development and Education Management (ICEDEM 2019) Empirical Research on Urbanization Efficiency of National Central Cities Zhao Wang Mengjie Wang Big Data Research Center Big Data Research Center Jianghan University Jianghan University Wuhan, China Wuhan, China Wenqiang Bao* YiBen Investment Fund New York, United States Abstract—From both dynamic and static perspectives, this II. RESEARCH METHODS paper conducts a comprehensive analysis research on the urbanization efficiency of nine Chinese central cities from 2005 to A. DEA model 2017. The dynamic analysis of this research shows that the Data Envelopment Analysis (DEA) is a linear programming urbanization efficiency of China’s central cities is generally model that evaluates the relative effectiveness between raising its volatility. The invalid change of technology is the main departments or units which also called the decision-making threats to the improvement of urbanization efficiency. The static unit (DMU), with multiple inputs and multiple outputs (called analysis shows that there are surplus resources allocation in some DEA effective). From the perspective of relative effectiveness, national central cities. In particular, labor resources are the most over-invested. Therefore, in the process of urbanization, the this model evaluates the relative efficiency of each unit and development of science and technology should be placed in an department by studying the input and output indicator data of important position. China should choose the road of high-quality the production decision-making unit. urbanization and intensive development. B. Malmquist model Keywords—urbanization; national central city; (Data The Malmquist model, based on DEA model, can Envelopment Analysis) DEA; intensification efficiency dynamically analyze the urbanization efficiency of national central cities. -
Annual Report 2013 Annual Report Forging Ahead Forging Pursuing Value Pursuing
NWS HOLDINGS LIMITED ANNUAL REPORT 2013 ANNUAL REPORT NWS Holdings Limited (incorporated in Bermuda with limited liability) 28/F New World Tower 18 Queen’s Road Central FORGING AHEAD Central, Hong Kong Tel: (852) 2131 0600 PURSUING VALUE Fax: (852) 2131 0611 E-mail: [email protected] www.nws.com.hk NWS Holdings Limited takes every practicable measure to conserve resources and minimize waste. ANNUAL REPORT 2013 This annual report is printed on FSC® certified paper using chemistry free plate system and soy ink. The FSC® logo identifies product group from responsible forestry in accordance with the rules of the Forest Stewardship Council®. STOCK CODE: 659 OUR VISION To build a dynamic and premier group of infrastructure and service management companies driven by a shared passion for customer value and care Contents 2 Corporate Profile 4 Major Events and Accolades 6 Financial Highlights 8 Chairman’s Statement 10 Board of Directors and Senior Management 22 Corporate Governance Report 38 Sustainability 46 Management Discussion and Analysis 62 Reports and Financial Statements 174 Five-Year Financial Summary 176 Project Key Facts and Figures 188 Glossary of Terms 190 Corporate Information Design rationale FORGING AHEAD PURSUING VALUE NWS Holdings Annual Report 2013 has adopted the image of a sailboat powerfully plowing through wind and waves to depict the Group’s clear focus to strive for excellence and enhance shareholder value. The sailboat illustrations and forward-pointing arrows reflect the concerted effort of the management and employees to develop sustainable growth Download the while undertaking corporate social NWS Holdings responsibilities, now and into Annual Report 2013 the future. -
Annual Report 2013
NWD_AR13_CoverBack_E new.ai 2013/10/9 12:01:28 AM Annual Report 2013 Contents 2 Corporate Profile Design Concept 4 Corporate Structure This design scheme revolves around the 5 Financial Highlights concept enshrined under Luban Lock, which 6 Chairman’s Statement represents ancient wisdom and sophisticated 8 Joint General Managers’ Report craftsmanship. This sophisticated structure depicted in the cover page represents the 8 Property focal point to converge the core businesses of 18 Hotel Operations 24 Infrastructure and Service New World Development. 30 Department Stores 34 Telecommunications 35 Outlook 40 Management Discussion and Analysis 46 Principal Projects Summary 68 Corporate Governance Report 78 Investor Relations 82 Directors’ Profile 89 Senior Management Profile 90 Corporate Sustainability 100 Corporate Information 101 Financial Section Contents Disclaimer The photographs, images, drawings or sketches shown in this annual report represent an artist’s impression of the development concerned only. They are not drawn to scale and/or may have been edited and processed with computerised imaging techniques. Prospective purchasers should make reference to the sales brochure for details of the development. The vendor also advises prospective purchasers to conduct an on-site visit for a better understanding of the development site, its surrounding environment and the public facilities nearby. All parties engaged in the production of this annual report have made their best efforts to ensure the highest accuracy of all information, photographs, images, drawings or sketches herein contained as to the printing of this annual report and to minimise the existence of clerical errors. Readers are invited to make enquires to sales personnel or consult relevant professionals for verification of doubts or particulars of specific items.