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External sources (not reviewed)

The purpose of the New Scheme is to enable the Company to grant share options to selected participants as incentives or rewards for their contribution and prospective contribution to and stronger business relationship between the selected participants and the Group.

That this Council urges the Government to affirm the contributions of the textile and clothing industry to Hong Kong's overall economy, and to make early preparations in anticipation of the impending abolition of the textile quota system in 2005 and the forthcoming implementation of the "Mainland/Hong Kong Closer Economic Partnership Arrangement" which may bring about new business opportunities or have impact in various respects; at the same time, the Government should also actively explore and formulate strategies, including setting up expeditiously a "border industrial zone" and a "fashion and design centre" to help Hong Kong develop into the "Fashion centre of Asia Pacific", enhance the overall competitiveness of the industry and promote its growth, as well as to provide more employment opportunities, in particular those popular with young people, in Hong Kong.

If the Directors shall at their absolute discretion determine that (aa) (1) the grantee of any option (other than an Eligible Employee) or his associate has committed any breach of any contract entered into between the grantee or his associate on the one part and the Group or any Invested Entity on the other part; or (2) that the grantee has committed any act of bankruptcy or has become insolvent or is subject to any winding-up, liquidation or analogous proceedings or has made any arrangement or composition with his creditors generally; or (3) the grantee could no longer make any contribution to the growth and development of the Group by reason of the cessation of its relations with the Group or by other reason whatsoever; and (bb) the option granted to the grantee under the Share Option scheme shall lapse, his option will lapse automatically and will not in any event be exercisable on or after the date on which the Directors have so determined.

This owes much to the efforts of the Hospital Authority (HA) to enhance communication with staff, to help them realize their potential contribution towards the corporate mission, and to provide them with supporting services and opportunities to participate in decision making.

[...] [...] in grossprofitcontributions.

(e) To construct, maintain, improve, develop, work, control, and manage any waterworks, gas works, reservoirs, roads, tramways, electric power, heat and light supply works, telephone works, hotels, clubs, restaurants, baths, places of worship, places of amusements, pleasure grounds, parks, gardens, reading rooms, stores, shops, dairies, and other works and conveniences which the Company may think directly or indirectly conducive to these objects, and to contribute or otherwise assist or take part in the construction, maintenance, development, working, control and management thereof.

We thank Mr. Turner for his contribution and welcome Mr. Tong to the Company.

For the efforts and dedication during the past year, I would like to thank all staff members of the Company and our professional advisers and I am hopeful that the Company will be restored into a profitable condition and that the trading of our Company’s shares in the Hong Kong Stock Exchange will soon be resumed to be benefit of all our shareholders.

These were mainly attributable to the increase in gross profit contributionsfollowing the increase in Wuhan sourced cargo and increase in tariff while partially offset by the increase in general and administrative and other operating expenses.

It takes into consideration on factors such as salaries paid by comparable companies, time commitment and responsibilities of Directors and senior management, employment conditions elsewhere in the Group and desirability of performance-base remuneration.

I would like to express my sincere gratitude to our shareholders, investors and business partners for their trust and support, and would also like to thank the members of the Board, the entire management team and our employees, for their dedication and hard work.

The eligibility of any of the above class of participants to the grant of any option shall be determined by the Directors from time to time on the basis of the Directors’ option as to his contribution to the development and growth of the Group.

[...] [...] staff whohavemade contributions [...]

The remuneration or other equivalent allowance for directors and supervisors are based on their involvement in the Company’s operations and contribution to the Company, the “Rules for Setting Director’s Remuneration” and industry norm.

The Board would like to express its sincere gratitude to Mr Hao and Mr Li for their valuable contribution to the Company during their tenure of office.

The board of directors of TPD may offer to grant share options to any full-time or part-time employees, executives or officers of TPD or any of its subsidiaries; any directors of TPD or any of its subsidiaries; any advisers, consultants, suppliers, customers and agents to TPD or any of its subsidiaries and such other persons who, in the sole opinion of the board of directors of TPD, will contribute or have contributed to TPD Group.

The Share Incentive Scheme is a long-term incentive arrangement for the Eligible Employees, the purpose of which is to recognise, motivate and provide incentives to those who makecontribution to the Group, to help the Group retain its existing employees and recruit additional employees who will be valuable to the Group to provide existing and future employees with direct economic interests in the long-term development and growth of the Group.

During the year, Xiushui contributed HK$7,040,000 to the Group’s turnover and madealoss of HK$3,907,000 for the period between the date of acquisition and the end of the reporting period.

Nominees were selected by Capital Magazine based on six criteria: leadership and management skills, social responsibility, business concept, reputation, personal goal and achievements, contributions to country and society, work/life balance and a role model for of the next generation.

Given the relatively high contribution of Glencore’s oil division to Group revenue, the increase in revenue was primarily due to higher oil volumes handled and a slightly higher period-on-period average oil price (e.g. Brent up 3%), partially offset by lower period-on-period metals prices as noted above.

The contribution from Ping An reduced, due to market valuation losses on equity securities held by their insurance business, which reflected volatile domestic equity markets, partly offset by increased income from the banking business.

(w) To establish, construct, improve, maintain, develop, manage, work, control, carry out, and superintend bonded warehouses, warehouses, godowns, stores, shops, offices, flats, houses, buildings, and other works and conveniences of all kinds which may seem calculated directly or indirectly to advance the Company’s interests or conducive to the objects of the Company, and to contribute or otherwise assist or take part in the construction, maintenance, development, management, carrying out, working, control and superintendence thereof.

Furthermore, in view of (i) the Group’s cooperation with No-Tape Japan, a renowned chemical company based in Japan, for the research and development of high quality and reliable footwear adhesive; (ii) the Group’s record with no sales return due to dissatisfaction of product quality during the Track Record Period; (iii) the increasing contribution of footwear adhesive by the Group to its major customers during the Track Record Period; and (iv) the long term communication and business relationship with the major customers of the Group, the Directors are of the view that, among the foreign adhesive suppliers, the products of the Group are comparatively stable in quality and the after-sale technical services is comparatively efficient and fast responding.

Summary of the Scheme a. The primary purpose of the Scheme is to provide incentives or rewards to Participants (see below defined) thereunder for their contribution to the Group and any entity in which the Group holds any equity interest (“Invested Entity”) and/or to enable the Group and an Invested Entity to recruit and retain high-calibre employees and attract human resources that are valuable to the Group or any Invested Entity.

Under the scheme, the Directors of the Company may, at their discretion, offer any full-time employees, Directors (including independent non-executive Directors) and part-time employees with weekly working hours of 10 hours and above, of the Group and any advisor (professional or otherwise) or consultant, distributors, suppliers, agents, customers, joint venture partners, service providers to the Group who the Directors of the Company consider, in their sole discretion, have contributed or contribution to the Group, share options to subscribe for share of the Company.

(1) To construct improve maintain develop alter work manage carry out or control any roads ways tramways railways branches or sidings bridges reservoirs watercourses wharves factories machineries warehouses electric works shops stores buildings and other works and conveniences which may seem calculated directly or indirectly to advance the Company’s interests and to contribute to subsidize or otherwise assist or take part in the construction improvement maintenance development alteration working management carrying out or control thereof.

Improved rental income and good growth in the Beverages, Marine Services and Trading & Industrial Divisions more than compensated for reduced contributions from airline operations and residential sales.