Report of the Directors董事会报告.pdf

Report of the Directors The directors present their annual report and the audited financial statements for the year ended 31 March 2003. Principal Activities The Company is an investment holding company. The activities of its principal subsidiaries are set out in note 36 to the financial 36 statements. Results The results of the Group for the year ended 31 March 2003 are set out in the consolidated income statement on page 23. 23 Share Capital and Share Options Details of the movements in the share capital and share options of the Company are set out in notes 23 and 24 to the financial 2324 statements. Share Premium and Reserves Movements in the share premium and reserves of the Group and the Company during the year are set out in note 25 to the 25 financial statements. Investment Properties The investment properties of the Group were revalued as at 31 March 2003 and the resulting net deficit on revaluation amounted 26,900,000 to approximately HK$26,900,000. Details of these and other movements in the investment properties are set out in note 12 to the financial statements. 12 Property, Plant and Equipment The leasehold land and buildings of the Group were revalued as at 31 March 2003 and the resulting net deficit on revaluation 82,000 amounted to approximately HK$82,000.