財務回顧
1,431,000,000 108% Makino Air Travel Service Co., Ltd. Hotel Plaza Miyazaki Limited Crystal Travel Co., Ltd. 394,000,000 12,200,000 40,100,000 0.68 2.35
流動資金及資金來源
64,300,000 6,500,000 223,000,000 192,000,000 1.77 3.47 4.1% 51,800,000
有關重大投資之重大收購及出售
(a ) 於e B a n k e r 之投資增加
35.03% eBanker , Inc. eBanker 0.25 eBanker eBanker eBanker 35.0% 81.8%
(b ) 於R S I I n t e r n a t i o n a l S y s t e m s
I n c.（「R S I 」）之投資增加
RSI 19% 30% RSI
特速集团 2008年报
A n n u a l R e p o r t 2008 ? 二零零八年年報11MANAGEMENT DISCUSSION AND ANALYSIS
管理層討論及分析(c) Acquisition of hotel holding companies
During the year, the Group entered into an agreement with an independent third party to acquire the entire interest of Kabushiki Kaisha Aizuya (“Aizuya”), a company incorporated in Japan which operates a hotel business and the shareholder’s loan for a total consideration JPY220 million. The acquired businesses contributed revenues of approximately HK$1.0 million and net loss of approximately HK$2.4 million to the Group for the period from the date of acquisition to 31 March 2008. Due to a lack of HKFRS – specific data prior to the acquisition of Aizuya, pro forma profit or loss of the combined entity for the complete 2008 annual reporting period cannot be determined reliably.
During the year, the Group entered into an agreement with an independent third party to acquire the entire interest of Hotel Plaza Miyazaki Co. Ltd. (“HPM”), a company incorporated in Japan which operates a hotel, for a consideration of JPY300 million. The acquired businesses contributed revenues of approximately HK$49.6 million and net loss of approximately HK$7.1 million to the Group for the period from the date of acquisition to 31 March 2008. Due to a lack of HKFRS – specific data prior to the acquisition of HPM, pro forma profit or loss of the combined entity for the complete 2008 annual reporting period cannot be determined reliably.(d) Disposal of a property
During the year, the Group entered into an agreement for the disposal of a property located in Singapore at a consideration of approximately S$26.4 million.(e) Acquisition of property
During the year, the Group entered into an agreement with a property developer in Singapore to purchase a property located in Singapore for a consideration of approximately S$6.9 million.(f) Acquisition of a travel service company
During the year, the Group entered into a sale and purchase agreement for the acquisition of the entire equity interest in Crystal Travel Co., Ltd. (“Crystal”), a travel service company operating in Japan, at a consideration of approximately JPY52 million. The acquired businesses contributed revenues of approximately HK$101.2 million and net profit of approximately HK$4.2 million to the Group for the period from the date of acquisition to 31 March 2008. Due to a lack of HKFRS – specific data prior to the acquisition of Crystal, pro forma profit or loss of the combined entity for the complete 2008 annual reporting period cannot be determined reliably.(c ) 收購酒店持有公司 Kabushiki Kaisha Aizuya Aizuya 220,000,000 1,000,000 2,400,000 Aizuya Hotel Plaza Miyazaki Co. Ltd. HPM 300,000,000 49,600,000 7,100,000 HPM
(d ) 出售物業 26,400,000
(e ) 收購一項物業 6,900,000 (f ) 收購旅遊服務公司 Crystal Travel Co., Ltd. Crystal 52,000,000 101,200,000 4,200,000 Crystal
特速集团 2008年报
X p r e s s G r o u p L i m i t e d ? 特速集團有限公司
12
MANAGEMENT DISCUSSION AND ANALYSIS
管理層討論及分析
CApITAL ExpENDITURE AND COMMITMENTS
At the balance sheet date, the Group had authorized and contracted capital commitments of approximately HK$63 million, which was mainly related to capital expenditure for the acquisition of investment properties.
FOREIGN ExChANGE ExpOSURE
Substantially all the revenues, expenses, assets and liabilities are denominated in Hong Kong dollars, U.S. dollars, Japanese yen and Singapore dollars. Due to the currency peg of the Hong Kong dollars to the U.S. dollars, the exchange rate between these two currencies has remained stable and thus no hedging or other alternatives have been implemented by the Group. The Group expected that there is no significant exposure on other foreign currency, but it cannot be assured operating results in future will not be materially affected.