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THIS IS NOT THE ANNOUNCEMENT OF THE FINANCIAL RESULTS OF SHANGRI-LA ASIA LIMITED ("SA") FOR THE THIRD QUARTER AND FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2001. THIS ANNOUNCEMENT IS MADE BY SA PURSUANT TO THE REQUIREMENTS OF THE RULES GOVERNING THE LISTING OF SECURITIES ON THE STOCK EXCHANGE OF HONG KONG LIMITED TO PROVIDE SHAREHOLDERS OF SA WITH FINANCIAL INFORMATION OF A LISTED SUBSIDIARY WHICH HAS ANNOUNCED SUCH INFORMATION TO THE PUBLIC IN MALAYSIA.
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SUMMARY
SHANGRI-LA HOTELS (MALAYSIA) BERHAD, MALAYSIA ("SHMB"), a 55.12% subsidiary of SA and a company listed on the Kuala Lumpur Stock Exchange, has announced its unaudited financial results for the third quarter and for the nine months ended 30 September 2001 in Malaysia on 16 November 2001. The financial statements of SHMB have been prepared in accordance with accounting principles and practices generally accepted in Malaysia. The Consolidated Income Statement of SHMB is provided below. |
SHMB, a subsidiary of SA listed on the Kuala Lumpur Stock Exchange and in which SA has a 55.12% interest, has announced its unaudited financial results for the third quarter and for the nine months ended 30 September 2001 in Malaysia on 16 November 2001. The Consolidated Income Statement of SHMB is provided below:-
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SHANGRI-LA HOTELS (MALAYSIA) BERHAD, MALAYSIA CONSOLIDATED INCOME STATEMENT FOR THE THIRD QUARTER AND FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2001 - UNAUDITED
Individual Quarter Cumulative Quarter
Current Preceding Year Current Preceding Year
Year Corresponding Year Corresponding
Quarter Quarter To Date Period
30/09/01 30/09/00 30/09/01 30/09/00
RM'000 RM'000 RM'000 RM'000
1 a Revenue 58,883 67,966 177,765 198,210
--------- --------- --------- ---------
b Investment income 0 1 0 5
--------- --------- --------- ---------
c Other income 155 422 708 535
--------- --------- --------- ---------
2 a Profit before finance 13,480 22,592 39,725 57,187
cost, depreciation and
amortisation, exceptional
items, income tax,
minority interests
and extraordinary items
b Finance cost (43) (113) (189) (1,247)
c Depreciation and
amortisation (3,893) (3,763) (11,300) (11,560)
d Exceptional items 0 0 0 6,264
--------- --------- --------- ---------
e Profit before income tax, 9,544 18,716 28,236 50,644
minority interests and
extraordinary items
f Share of profits and losses
of associated companies (325) 418 (926) (2,043)
--------- --------- --------- ---------
g Profit before income tax, 9,219 19,134 27,310 48,601
minority interests and
extraordinary items after
share of profits and
losses of associated
companies
h Income tax (1,225) (5,188) (6,646) (12,518)
--------- --------- --------- ---------
i (i) Profit after income 7,994 13,946 20,664 36,083
tax before
deducting minority
interests
(ii) Less minority (42) (508) (385) (868)
interests
j Pre-acquisition profit/
(loss) if applicable 0 0 0 0
--------- --------- --------- ---------
k Net profit from ordinary 7,952 13,438 20,279 35,215
activities attributable
to members of Shangri-La
Hotels (Malaysia) Berhad
l (i) Extraordinary items 0 0 0 0
(ii) Less minority
interests 0 0 0 0
--------- --------- --------- ---------
(iii) Extraordinary items 0 0 0 0
attributable to
members of Shangri-La
Hotels (Malaysia)
Berhad
m Net Profit attributable to
members of Shangri-La
Hotels (Malaysia) Berhad 7,952 13,438 20,279 35,215
--------- --------- --------- ---------
3 Earnings per share based on
2(m) above after deducting
any provision for the
preference dividends,
if any:-
Basic (based on 440
million ordinary
shares) (sen) 1.81 3.05 4.61 8.00
========= ========= ========= =========
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GENERAL
SHAREHOLDERS SHOULD NOTE THAT THE ABOVE FINANCIAL RESULTS INCLUDING THE EARNINGS PER SHARE PERTAIN ONLY TO SHMB, A 55.12% SUBSIDIARY OF SA, AND NOT TO SA ITSELF.
SA WILL ACCOUNT FOR ITS SHARE (55.12%) IN THE PROFITS OF SHMB FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2001 IN ITS FINAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2001.
By Order of the Board
Shangri-La Asia Limited
Ye Longfei
Chairman
Hong Kong, 16 November 2001
Please also refer to the published version of this announcement in the South China Morning Post, Hong Kong Economic Times and Hong Kong Economic Journal.
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