天德地产2023-2024 年报

Contents 2Corporate Information3Chairman’s Statement4Properties5Corporate Governance Report39Corporate Social Responsibility Report67Directors’ Report85Biographical Details of Directors andSenior Management88Independent Auditor’s Report95Consolidated Statement of Profit or Lossand Other Comprehensive Income96Consolidated Statement of Financial Position98Consolidated Statement of Changes in Equity99Consolidated Statement of Cash Flows101Notes to the Financial Statements159Five Year Financial Summary Corporate Information Board of DirectorsExecutive DirectorsCheong Kheng Lim(Chairman)Cheong Keng HooiCheong Sim LamCheong Chong LingCheong Tiong HamCheong Chin Joo Gerald Independent Non-executive DirectorsChow Wan Hoi, PaulWong Yiu TakTse Pang Yuen Company SecretaryNg Sau Fong Bankers Hang Seng Bank LimitedOversea-Chinese Banking Corporation LimitedThe Hongkong and Shanghai Banking Corporation LimitedThe Bank of East Asia, Limited Solicitors Mayer BrownDeaconsStephenson Harwood Auditor KPMG(Certified Public Accountants)Public Interest Entity Auditor registered in accordance withthe Hong Kong Accounting and Financial Reporting Council Ordinance Share Registrar 183171712-1716 Computershare Hong Kong Investor Services LimitedShops 1712-1716, 17th Floor, Hopewell Centre183 Queen’s Road East, Wanchai, Hong Kong 639 Registered Office 9th Floor, iSQUARE, 63 Nathan RoadTsim Sha Tsui, Kowloon, Hong Kong http://ttll.etnet.com.hk Websitehttp://ttll.etnet.com.hk Chairman’s Statement Financial Results and Business Review 188,800,000191,400,000230,900,0001,707,700,000193,700,000759,300,0006784 I would like to report the audited results of the Group for the year ended31 March 2024. During the year, the Group recorded a profit from operationsbefore valuation changes in investment properties of HK$188.8 million (2023:HK$191.4 million). Since the net valuation gains on investment propertiesamounted to HK$230.9 million (2023: net valuation losses of HK$1,707.7million), the Group recorded a profit attributable to equity shareholders ofHK$193.7 million (2023: a loss of HK$759.3 million). The valuation changes willonly affect the accounting profit or loss but not the cash flows of the Group.Details of the financial results and business performance and development areset out in the Directors’ Report on pages 67 to 84. Dividends 0.100.090.060.040.160.13 The Board is pleased to recommend a final dividend of HK$0.10 per share forthe year ended 31 March 2024 (2023: HK$0.09 per share). As the Companypaid an interim dividend of HK$0.06 per share during the year (2023: HK$0.04per share), the total distribution will be HK$0.16 per share for the year (2023:HK$0.13 per share). Annual General Meeting The annual general meeting of members of the Company will be held on Friday,6 September 2024. Acknowledgement Finally, on behalf of the Board, I wish to thank all our staff for their devotion anddedication, and would like to thank our professional advisors and our membersfor their support in the past year. Cheong Kheng LimChairman Properties iSQUARE iSQUARE is located in the heart of Tsim Sha Tsui at the intersection of NathanRoad and Peking Road. It is the first one-stop shopping and entertainmentcomplex linked to Tsim Sha Tsui MTR station. This complex provides 56,000square metres of space comprising a shopping podium, cinema box andtower. 56,000 The podium is a vibrant hub for world-class fashion and lifestyle brands,complemented by five grand cineplexes, including a 458-seat digital IMAXtheatre. iSQUARE also features fine-dining restaurants and lifestyle services inits iconic tower. 5458IMAX Goodluck Industrial Centre Four floors of Goodluck Industrial Centre belong to the Company. Theproperties are for automobile showrooms, vehicle workshops, carparkingspaces and a petrol-filling station. The centre is located in Lai Chi Kok,Kowloon. Corporate Governance Report Corporate Governance Practices The Company recognises responsibilities to its shareholders and is thereforecommitted to maintaining a high standard of corporate governance. Toaccomplish this, the Company has reviewed its practices and procedure, andidentified and formalised appropriate measures and policies. Throughout the financial year ended 31 March 2024, the Company compliedwith all the code provisions, where applicable, set out in Part 2 of the CorporateGovernance Code (“CG Code”) in Appendix C1 to the Rules Governing theListing of Securities on The Stock Exchange of Hong Kong Limited (“ListingRules”), except for the deviations as disclosed hereunder: C1 C.1.8 Code Provision C.1.8: Appropriate insurance coverin respect of legal action against directors should bearranged Currently, the Company does not have insurance cover for legal action againstits Directors. After taking into account the business nature and operationalcomplexity and diversity of the Group, as well as the close supervision of andprudent approach adopted by the manageme