董事会报告书

ReportoftheDirectors董事會報告書23TheDirectorspresenttheirannualreportandtheauditedfinancialstatementsfortheyearended31stMarch,2006.PRINCIPALACTIVITIESTheCompanyactsasaninvestmentholdingcompanyanditssubsidiariesareengagedinthebusinessofsourcing,importing,wholesaling,processing,packaging,marketinganddistributionofrice,securitiesinvestment,propertyinvestmentandinvestmentholding.AnalysesoftheGroup’sturnoverandsegmentresultsbybusinesssegmentandgeographicalsegmentaresetoutinnote7tothefinancialstatements.SUBSIDIARIESANDASSOCIATESDetailsoftheCompany’sprincipalsubsidiariesandoftheGroup’sprincipalassociatesat31stMarch,2006aresetoutinnotes16and17tothefinancialstatements.RESULTSANDAPPROPRIATIONTheresultsoftheGroupfortheyearended31stMarch,2006andthestateofaffairsoftheCompanyandtheGroupatthatdatearesetoutinthefinancialstatementsonpages44to125.Aninterimdividendof1.25centspershareamountingtoapproximatelyHK$16,336,000waspaidtotheshareholdersduringtheyear.TheDirectorsnowrecommendthepaymentofafinaldividendof1.25centspersharetotheshareholdersontheRegisterofMembersonWednesday,30thAugust,2006amountingtoapproximatelyHK$16,336,000.SHAREPREMIUMANDRESERVESDetailsofmovementsinthereservesoftheCompanyandtheGroupduringtheyeararesetoutinnote30tothefinancialstatementsandtheconsolidatedstatementofchangesinequityrespectively.GROUPFINANCIALSUMMARYAsummaryoftheresultsandoftheassetsandliabilitiesoftheGroupforthepastfivefinancialyearsissetoutonpages127to128oftheannualreport.董事會仝人現謹向各股東發表截至二零零六年三月三十一日止之年度報告書及已審核之財務報表。主要業務本公司為投資控股公司，而其附屬公司為從事搜購、入口、批發、精細加工、包裝、市場推廣及銷售食米、證券投資、物業投資及投資控股。按業務及地域分析之本集團營業額及分類業績列於財務報表附註7。附屬及聯營公司有關於二零零六年三月三十一日本公司屬下各主要附屬公司及本集團屬下各主要聯營公司之詳情列於財務報表附註16及17。業績及分配本集團截至二零零六年三月三十一日止年度之業績及本公司與本集團於當日之財務狀況已列於本財務報表第44頁至第125頁。中期股息每股1.25仙（總額約為16,336,000港元）已於年中向股東派付。董事會現建議派發末期股息每股1.25仙（總額約為16,336,000港元）予於二零零六年八月三十日（星期三）名列股東名冊上之股東。股本溢價及儲備本年度本公司與本集團之儲備之變動詳情，已分別列於財務報表附註30及綜合權益變動表。集團財政摘要本集團過去五年之業績、資產及負債撮列於本年報第127頁至第128頁。ReportoftheDirectors董事會報告書24INVESTMENTPROPERTIESTheGrouprevaluedallofitsinvestmentpropertiesat31stMarch,2006.TherevaluationsurplusofHK$4,270,000hasbeencreditedtotheconsolidatedincomestatement.DetailsofmovementsduringtheyearintheinvestmentpropertiesoftheGrouparesetoutinnote15tothefinancialstatements.PROPERTY,PLANTANDEQUIPMENTDetailsofmovementsduringtheyearintheproperty,plantandequipmentoftheGrouparesetoutinnote14tothefinancialstatements.SHARECAPITALDetailsofmovementsduringtheyearinthesharecapitaloftheCompanyaresetoutinnote28tothefinancialstatements.PRE-EMPTIVERIGHTSTherearenoprovisionsforpre-emptiverightsundertheCompany’sBye-LawsorthelawofBermuda,whichwouldobligetheCompanytooffernewsharesonapro-ratabasistoexistingshareholders.DIRECTORSTheDirectorsoftheCompanyduringtheyearanduptothedateofthisreportwere:ExecutiveDirectors:Mr.DavidLAMKwingChan(Chairman)Mr.AlvinLAMKwingWai(ManagingDirector)MadamRositaYUENLAMKitWooMr.LaurentLAMKwingCheeMr.TSANGSiuHungNon-executiveDirector:MadamLAMTSANGSukYee(note1)投資物業本集團於二零零六年三月三十一日重估所有投資物業，重估之盈餘總額共4,270,000港元已計入綜合收益表。本集團於本年度之投資物業變動詳情已詳載於財務報表附註15。物業、廠房機器及設備本集團於本年度之物業、廠房機器及設備變動詳情已載於財務報表附註14。股本本年度之股本變動，詳載於本財務報表附註28。優先認購股份權利根據本公司之公司細則或百慕達法例均無優先認購股份權利條款規定本公司須按比例向現有股東發行新股。董事於本年度內及截至本報告日期止本公司董事芳名如下：執行董事：林㟺燦先生（主席）林㟺偉先生（董事總經理）源林潔和女士林㟺熾先生曾兆雄先生非執行董事：林曾淑儀女士（附註1）25DIRECTORS(Continued)IndependentNon-executiveDirectors:Mr.AndrewLAMPingCheung(note2)Mr.LeoCHANFaiYueMr.JohnWONGYikChungNotes:1.MadamLAMTSANGSukYeeresignedasnon-executivedirectoron23rdJanuary,2006.2.Mr.AndrewLAMPingCheungresignedasindependentnon-executivedirectoron21stJune,2006.InaccordancewiththeCompany’sBye-Laws,Mr.DavidLAMKwingChan,MadamRositaYUENLAMKitWooandMr.TSANGSiuHungshallretirebyrotationand,beingeligible,offerthemselvesforre-election.ThetermofofficeofeachDirector,includingtheindependentnon-executivedirectors,istheperioduptohisretirementbyrotationinaccordancewiththeCompany’sBye-Laws.SERVICECONTRACTSOFDIRECTORSMessrs.DavidLAMKwingChanandAlvinLAMKwingWaihadenteredintoservicecontractswiththeCompanyforaninitialtermofthreeyearscommencingon1stJanuary,1991.Theseservicecontractsremaineffectiveaftertheexpirydateunlessterminatedbyeitherpartywithsixmonths’noticeinwriting.Asat31stMarch,2006,noneoftheseservicecontractshadbeenterminatedbyeitherparty.Eachoftheindependentnon-executivedirectorsconfirmedhisindependencewiththeCompanypursuanttoRule3.13oftheListingRules.TheCompanyconsideredalltheindependentnon-executivedirectorsareindependent.NoDirectorbeingproposedforre-electionattheforthcomingannualgeneralmeetinghasaservicecontractwhichisnotdeterminablebytheGroupwithinoneyearwithoutpaymentofcompensation(otherthanstatutorycompensation).董事（續）獨立非執行董事：林炳昌先生（附註2）陳輝虞先生黃翼忠先生附註：1.林曾淑儀女士於二零零六年一月二十三日辭任非執行董事。2.林炳昌先生於二零零六年六月二十一日辭任獨立非執行董事。依照本公司之公司細則，林㟺燦先生、源林潔和女士及曾兆雄先生例應輪流告退，但彼等均願膺選連任。各董事之任期（包括獨立非執行董事），乃於根據本公司之公司細則輪流告退時屆滿。董事服務合約本公司與林㟺燦先生及林㟺偉先生各訂有服務合約，該董事為本集團提供服務自一九九一年一月一日起為期三年，並於屆滿後仍然有效直至由任何一方以六個月書面通知而終止。於二零零六年三月三十一日任何一方均未曾終止此服務合約。各獨立非執行董事已根據上市規則第3.13條就其獨立性向本公司作出確認。本公司認為所有獨立非執行董事確屬獨立人士。擬重選連任之董事並無訂立不可由本集團在一年內不作補償而終止之服務合約（法定賠償除外）。ReportoftheDirectors董事會報告書26BIOGRAPHICALDETAILSOFDIRECTORSANDSENIORMANAGEMENTSTAFF1.DirectorsThebiographicaldetailsoftheDirectorsoftheCompanyareasfollows:DavidLAMKwingChan,aged68,ChairmanoftheCompany.HejoinedtheGroupin1963.In1989,hewasmadeasaMemberoftheMostExaltedOrderoftheWhiteElephantofThailandbyhisMajesty,theKingofThailand.In1993,hewasfurtherhonouredtheCompanion(FourthClass)oftheMostNobleOrderoftheCrownofThailand.HehasextensiveexperienceinricetradingandhasbeenappointedascommitteememberoftheHongKongRiceAdvisoryCommitteesinceApril1987.Mr.LamisthebrotherofMr.AlvinLAMKwingWai(ManagingDirector),MadamRositaYUENLAMKitWooandMr.LaurentLAMKwingChee,theExecutiveDirectorsoftheCompany.AlvinLAMKwingWai,aged61,ManagingDirectoroftheCompany.Mr.LamjoinedtheGroupin1970afterheobtainedhisMasterofBusinessAdministrationdegreefromtheUniversityofCalifornia,Berkerly,U.S.A.Hehasextensiveexperienceinfinancialmanagementandinvestmentplanning.Mr.LamisthebrotherofMr.DavidLAMKwingChan.RositaYUENLAMKitWoo,aged60,ExecutiveDirectorandTreasureroftheCompany.ShegraduatedfromtheUniversityofCalifornia,LosAngeles,U.S.A.withaB.A.inEconomicsandjoinedtheGroupin1991.MadamYuenhasextensiveexperienceinbankingandtrading.MadamYuenisthesisterofMr.DavidLAMKwingChan.LaurentLAMKwingChee,aged59,ExecutiveDirectoroftheCompany.HegraduatedfromtheEasternIllinoisUniversity,U.S.A.withabachelordegreeinEconomicsandjoinedtheGroupin1991.Mr.Lamhasextensiveexperienceinpropertydevelopmentandinvestment.Mr.LamisthebrotherofMr.DavidLAMKwingChan.董事及高層管理人員之個人資料詳情1.董事本公司董事之個人資料詳情如下：林㟺燦，68歲，為本公司主席，於一九六三年加入本集團。彼於一九八九年榮獲泰皇御賜榮譽頒發白象勳章，並繼於一九九三年榮獲頒授泰國皇室四級皇冠勳章。彼具豐富食米貿易經驗，並自一九八七年四月起獲委任為香港食米業諮詢委員會委員。林先生為本公司執行董事，林㟺偉先生（董事總經理）、源林潔和女士及林㟺熾先生之胞兄。林㟺偉，61歲，為本公司董事總經理。彼取得美國伯克利加州大學工商管理碩士學位後於一九七零年加入本集團，於財務管理及投資策劃方面均具豐富經驗。林先生為林㟺燦先生之胞弟。源林潔和，60歲，為本公司執行董事兼司庫。源女士持有美國洛杉磯加州大學經濟學士學位，彼於一九九一年加入本集團，具豐富之銀行及貿易業務經驗。源女士為林㟺燦先生之胞妹。林㟺熾，59歲，為本公司執行董事。彼畢業於美國東伊利諾大學，獲授經濟學士銜，彼於一九九一年加入本集團，於物業發展及投資具豐富經驗。林先生為林㟺燦先生之胞弟。27BIOGRAPHICALDETAILSOFDIRECTORSANDSENIORMANAGEMENTSTAFF(Continued)1.Directors(Continued)TSANGSiuHung,aged51,ExecutiveDirectorandFinancialControlleroftheCompany.HeholdsabachelordegreeinAccountancyandisafellowmemberoftheAssociationofCharteredCertifiedAccountantsandtheHongKongInstituteofCertifiedPublicAccountants.HejoinedtheGroupin1985.Mr.Tsanghasextensiveprofessionalexperienceinfinance,accountingandauditingfields.LeoCHANFaiYue,aged65,wasappointedasanIndependentNon-ExecutiveDirectoroftheCompanyin1999.Mr.Chanhasover20yearsofinvaluableexperienceinHongKongstockmarketandmanufacturingindustry.DuringhisearlyyearsinJapan,hewasexposedtothetradingandfinancefield.Heisanindependentnon-executivedirectorofProsperityInvestmentHoldingsLimitedandDatronixHoldingsLimited,thelistedCompaniesinHongKongandadirectorofapaintmanufacturingcompanyinBangkok.Mr.ChanisamemberofTheHongKongInstitutionofDirectors.JohnWONGYikChung,aged39,wasappointedasanIndependentNon-ExecutiveDirectoroftheCompanyin2004.Heisaprofessionalaccountantbytrainingwithmorethan16yearsofexperienceinauditingandcorporatefinancework,withextensiveexposuretothebusinessenterpriseinthePeople’sRepublicofChina(“PRC”).Mr.WongiscurrentlytheDirectorofTMFChina,afirmprovidingavarietyofprofessionaloutsourcingsolutionstointernationalclientbaseinvestinginPRC.Mr.WonggraduatedfromtheUniversityofMelbourne.HeisafellowmemberoftheAustralianSocietyofCertifiedPublicAccountantsandtheHongKongInstituteofCertifiedPublicAccountants.HealsoobtainedaPRCCertificateofIndependentDirectorshipin2002.2.SeniorManagementThefiveDirectorsoftheCompanyholdingexecutiveofficesabovearedirectlyresponsibleforthevariousbusinessesoftheGroup.TheyareregardedasthemembersoftheseniormanagementoftheGroup.董事及高層管理人員之個人資料詳情（續）1.董事（續）曾兆雄，51歲，為本公司執行董事兼財務總監。彼持有會計榮譽學士學位及為英國公認會計師公會及香港會計師公會之資深會員，曾先生於一九八五年加入本集團，具豐富之財務、會計及核數專業經驗。陳輝虞，65歲，於一九九九年獲委任為本公司之獨立非執行董事，彼從事香港股票行業及對廠務具超過二十年豐富經驗。陳先生早年旅居日本，經營貿易及金融行業。彼亦為香港上市公司，嘉進投資國際有限公司和連達科技控股有限公司之獨立非執行董事及曼谷一間油漆製造廠之董事。陳先生是香港董事學會會員。黃翼忠，39歲，於二零零四年獲委任為本公司之獨立非執行董事。黃先生為合資格會計師，擁有逾16年審計及企業融資經驗，對中華人民共和國（「中國」）商業企業具有資深經驗。彼現為TMFChina之董事，該公司向投資於中國並以國際客戶為主之公司提供專業外判解決。黃先生於墨爾本大學畢業，為澳洲會計師公會及香港會計師公會資深會員。彼亦於二零零二年取得中國獨立董事證書。2.高層管理人員上述五名本公司之執行董事親自參與管理本集團各項業務，乃本集團之高層管理人員。ReportoftheDirectors董事會報告書28DIRECTORS’INTERESTSANDSHORTPOSITIONSINTHESHARESANDUNDERLYINGSHARESAsat31stMarch,2006,theinterestsandshortpositionsofthedirectorsandtheirassociatesinthesharesandunderlyingsharesoftheCompanyoranyofitsassociatedcorporations(withinthemeaningofPartXVoftheSecuritiesandFuturesOrdinance(“SFO”))asrecordedintheregisterrequiredtobekeptunderSection352oftheSFOorasotherwisenotifiedtotheCompanyandtheStockExchangepursuanttotheModelCodecontainedintheListingRules,wereasfollows:Longpositions(a)OrdinarysharesoftheCompanyNumberofordinarysharesbeneficiallyheldintheCompany實益持有本公司普通股股數PercentageoftheissuedsharecapitalPersonalFamilyTotaloftheNameofdirectorinterestsinterestsinterestsCompany本公司之已發行股董事名稱個人權益家屬權益權益總額本之百分比Mr.DavidLAMKwingChan7,935,000—7,935,0000.61%林㟺燦先生Mr.AlvinLAMKwingWai17,500,0006,000,00023,500,0001.80%林㟺偉先生(Note附註)Note:Thefamilyinterestsof6,000,000sharesrepresenttheinterestsofthewifeofMr.AlvinLAMKwingWai.董事於股份及相關股份持有之權益及淡倉於二零零六年三月三十一日，各董事及彼等之聯繫人士於本公司或其任何相聯法團（定義見證券及期貨條例（「證券及期貨條例」）第XV部份）之股份及相關股份中擁有須載入根據證券及期貨條例第352條所存置之登記冊內，或根據上市規則所載之標準守則須知會本公司及聯交所之權益及淡倉如下：好倉(a)本公司之普通股附註：6,000,000股股份之家屬權益乃由林㟺偉先生之妻子擁有。29DIRECTORS’INTERESTSANDSHORTPOSITIONSINTHESHARESANDUNDERLYINGSHARES(Continued)Longpositions(Continued)(b)Non-votingdeferredsharesofGoldenResourcesDevelopmentLimited,awholly-ownedsubsidiaryoftheCompany.Numberofnon-votingdeferredNameofdirectorCapacitysharesbeneficiallyheld董事名稱身份實益持有之無投票權遞延股份數目Mr.DavidLAMKwingChanBeneficialowner260,000林㟺燦先生實益擁有人Mr.AlvinLAMKwingWaiBeneficialowner260,000林㟺偉先生實益擁有人(c)Non-votingdeferredsharesofYuenLoong&CompanyLimited,awholly-ownedsubsidiaryoftheCompany.Numberofnon-votingdeferredNameofdirectorCapacitysharesbeneficiallyheld董事名稱身份實益持有之無投票權遞延股份數目Mr.DavidLAMKwingChanBeneficialowner13,000林㟺燦先生實益擁有人Mr.AlvinLAMKwingWaiBeneficialowner13,000林㟺偉先生實益擁有人董事於股份及相關股份持有之權益及淡倉（續）好倉（續）(b)本公司之全資附屬公司金源米業有限公司之無投票權遞延股份(c)本公司之全資附屬公司源隆行有限公司之無投票權遞延股份(d)OrdinarysharesofWellightDevelopmentLimited,anassociateoftheCompany(d)本公司之聯營公司WellightDevelopmentLimited之普通股股份NumberofordinarysharesheldNameofdirectorCapacitythroughcorporation董事名稱身份透過公司持有之普通股股份數目Mr.LaurentLAMKwingCheeCorporateinterest300林㟺熾先生公司權益(Note附註)Note:ThesesharesareheldbyL.K.C.CompanyLimited,acompanywholly-ownedbyMr.LaurentLAMKwingChee.附註：此等股份由林㟺熾先生全資擁有之公司L.K.C.CompanyLimited持有。ReportoftheDirectors董事會報告書30DIRECTORS’INTERESTSANDSHORTPOSITIONSINTHESHARESANDUNDERLYINGSHARES(Continued)Longpositions(Continued)(e)ShareoptionsNumberofNumberofNameofdirectorCapacityoptionsheldunderlyingshares董事名稱身份持有認購股權數目相關股份數目Mr.AlvinLAMKwingWaiBeneficialowner25,000,00025,000,000林㟺偉先生實益擁有人MadamRositaYUENLAMKitWooBeneficialowner25,000,00025,000,000源林潔和女士實益擁有人Mr.LaurentLAMKwingCheeBeneficialowner25,000,00025,000,000林㟺熾先生實益擁有人75,000,00075,000,000Thedetailsofthedirectors’personalinterestintheunderlyingsharesoftheCompanyinrespectofshareoptionsgrantedbytheCompanyarestatedinthefollowingsection“ShareOptionsGrantedToDirectorsAndEmployees”.Saveasdisclosedabove,noneofthedirectorsnortheirassociatesoftheCompanyhadorwasdeemedtohaveanyinterestorshortpositionsinthesharesorunderlyingsharesoftheCompanyoranyofitsassociatedcorporationsthatwasrequiredtoberecordedpursuanttoSection352oftheSFOorasotherwisenotifiedtotheCompanyandtheStockExchangepursuanttotheModelCodecontainedintheListingRules.董事於股份及相關股份持有之權益及淡倉（續）好倉（續）(e)認購股權董事獲本公司授出有關認購本公司相關股份之認購股權，其所持之個人權益之詳情載列於下文「董事及僱員獲授予之認購股權」一節。除上文所披露者外，各董事或任何彼等之聯繫人士並無或並無被視作於本公司或其任何相聯法團之股份或相關股份中擁有須載入根據證券及期貨條例第352條所存置之登記冊內，或根據上市規則所載之標準守則須知會本公司及聯交所之任何權益或淡倉。31SHAREOPTIONSGRANTEDTODIRECTORSANDEMPLOYEESParticularsoftheCompany’sshareoptionschemearesetoutinnote29tothefinancialstatements.Asat31stMarch,2006,detailsofshareoptionsgrantedtothedirectorsandemployeesundertheexistingshareoptionschemeoftheCompanywereasfollows:BalanceBalanceExerciseoutstandingExercisedoutstandingpriceatbeginningduringatendOptiongrantdateExerciseperiod(Note)oftheyeartheyearoftheyear認購股權授出日期行使期行使價年初之餘額於年內行使年終之餘額（附註）HK$港元Directors董事Mr.AlvinLAMKwingWai12thJanuary,200112thJanuary,2001—0.269,000,000—9,000,000林㟺偉先生二零零一年一月十二日4thJanuary,2007二零零一年一月十二日至二零零七年一月四日28thAugust,200128thAugust,2001—0.3016,000,000—16,000,000二零零一年八月二十八日4thJanuary,2007二零零一年八月二十八日至二零零七年一月四日MadamRositaYUEN12thJanuary,200112thJanuary,2001—0.2615,000,000—15,000,000LAMKitWoo二零零一年一月十二日4thJanuary,2007源林潔和女士二零零一年一月十二日至二零零七年一月四日28thAugust,200128thAugust,2001—0.3010,000,000—10,000,000二零零一年八月二十八日4thJanuary,2007二零零一年八月二十八日至二零零七年一月四日Mr.LaurentLAM12thJanuary,200112thJanuary,2001—0.2615,000,000—15,000,000KwingChee二零零一年一月十二日4thJanuary,2007林㟺熾先生二零零一年一月十二日至二零零七年一月四日28thAugust,200128thAugust,2001—0.3010,000,000—10,000,000二零零一年八月二十八日4thJanuary,2007二零零一年八月二十八日至二零零七年一月四日Total75,000,000—75,000,000合計Employees僱員12thJanuary,200112thJanuary,2001—0.2615,000,000—15,000,000二零零一年一月十二日4thJanuary,2007二零零一年一月十二日至二零零七年一月四日28thAugust,200128thAugust,2001—0.3010,000,000—10,000,000二零零一年八月二十八日4thJanuary,2007二零零一年八月二十八日至二零零七年一月四日Total25,000,000—25,000,000合計Grandtotal100,000,000—100,000,000總計董事及僱員獲授予之認購股權本公司認購股權計劃之詳情載列於財務報表附註29。於二零零六年三月三十一日，根據本公司現行之認購股權計劃，董事及僱員獲授予認購股權之詳情如下：ReportoftheDirectors董事會報告書32SHAREOPTIONSGRANTEDTODIRECTORSANDEMPLOYEES(Continued)Note:Theexercisepriceoftheshareoptionsissubjecttoadjustmentinthecaseofrightsorbonusissues,orothersimilarchangesintheCompany’ssharecapital.Saveasdisclosedabove,noneoftheDirectorsnortheirspousesorchildrenunder18yearsofageweregrantedorhadexercisedanyrightstosubscribeforanysecuritiesoftheCompanyoranyofitsassociatedcorporations.ARRANGEMENTSTOPURCHASESHARESORDEBENTURESOtherthanasdisclosedinthesectionheaded“ShareOptionsGrantedToDirectorsAndEmployees”above,atnotimeduringtheyearwastheCompanyoranyofitssubsidiaries,apartytoanyarrangementstoenabletheDirectorsoftheCompanytoacquirebenefitsbymeansoftheacquisitionofsharesin,ordebenturesof,theCompanyoranyotherbodycorporate.RELATEDPARTYTRANSACTIONSDetailsoftherelatedpartytransactionsenteredintobytheGroupduringtheyeararesetoutinnote36tothefinancialstatements.CONNECTEDTRANSACTIONSDuringtheyear,theGroupenteredintoanagreementtodisposeitsentire55%equityinterestinWuhanGoldenResourcesRiceIndustryLimited(“WGR”),anindirectnon-whollyownedsubsidiaryoftheGroup,to武漢一米廠(WuhanNo.1),asubstantialshareholderofWGR,ataconsiderationofRMB4,060,000(equivalenttoapproximatelyHK$3,900,000).ByvirtueofthefactthatWuhanNo.1isthesubstantialshareholderofWGR,thedisposalconstitutedaconnectedtransactionfortheCompanyundertheListingRules.Thedisposalwasnotyetcompletedatthebalancesheetdate31stMarch,2006.Duringtheyear,theGrouprentedapropertyownedbyalandlordinwhichtheDirectoroftheCompany,Mr.AlvinLAMKwingWai,hadabeneficialinterest.TotalrentalexpensesincurredfortheyearamountedtoHK$960,000.Saveasdisclosedabove,intheopinionoftheDirectors,therewerenoothertransactionswhichneedtobedisclosedasconnectedtransactionsinaccordancewiththerequirementsoftheListingRules.董事及僱員獲授予之認購股權（續）附註：認購股權的行使價是受到如配售新股或派送紅股，或本公司股本出現類似的變動時予以調整。除上文所披露者外，概無董事或其配偶或未滿十八歲之子女已獲授予或曾行使任何可認購本公司或其任何聯繫公司任何證券之權利。購買股份或債券之安排除上文「董事及僱員獲授予之認購股權」一節所披露者外，本公司或其任何附屬公司於本年度任何時期內概無訂立任何安排致使本公司董事可藉購入本公司或任何其他法團之股份或債券而獲益。關連人士交易本集團與關連人士於本年度內進行交易之詳情，列於財務報表附註36。關連交易於本年度內，本集團簽訂一項協議，同意出售其於武漢金源米業有限公司（「武漢金源」）（本集團之一間間接非全資附屬公司）之全部55%股權予武漢一米廠（武漢金源之主要股東），代價為人民幣4,060,000元（約相等於3,900,000港元）。鑑於武漢一米廠為武漢金源之主要股東，因此，根據上市規則，此項出售構成本公司一項關連交易。此出售於二零零六年三月三十一日結算日尚未完成。於本年度內，本集團向本公司董事林㟺偉先生租用一項其擁有實益權益之物業。本年度之租金支出總額為960,000港元。除上文所披露者外，董事認為，概無其他交易須根據上市規則披露作關連交易。33DIRECTORS’INTERESTSINCONTRACTSOFSIGNIFICANCENocontractsofsignificancetowhichtheCompanyoranyofitssubsidiarieswasapartyandinwhichaDirectoroftheCompanyhadamaterialinterest,whetherdirectlyorindirectly,subsistedattheendoftheyearoratanytimeduringtheyear.SUBSTANTIALSHAREHOLDERSAsat31stMarch,2006,theregisterofsubstantialshareholdersmaintainedbytheCompanypursuanttoSection336oftheSFOshowedthat,theCompanyhadbeennotifiedofthefollowingsubstantialshareholders’interest,being5%ormoreoftheCompany’sissuedsharecapital:董事於重大合約上之權益本公司或其任何附屬公司概無訂立於本年度終結時仍有效或年度內任何時間曾有效而本公司董事擁有（不論直接或間接）重大權益之合約。主要股東於二零零六年三月三十一日，本公司根據證券及期貨條例第336條存置之主要股東名冊上所載，下列主要股東知會本公司其擁有5%或以上本公司之已發行股本：PercentageoftheissuedNumberofsharecapitalNameofshareholdersharesheldoftheCompany本公司之已發行股東名稱持有股數股本之百分比YuenLoongInternationalLimited(“YuenLoong”)385,052,02629.46%(Note1)（附註1）ChelseyDevelopmentsLtd.(“Chelsey”)236,940,00018.13%(Note1)（附註1）ProsperityInvestmentHoldingsLimited(“Prosperity”)68,957,0005.28%(Note2)嘉進投資國際有限公司（「嘉進」）（附註2）Notes:(1)Mr.DavidLAMKwingChan,adirectoroftheCompany,isinterestedinapproximately24%oftheissuedsharecapitalofeachofYuenLoongandChelsey.Mr.AlvinLAMKwingWai,adirectoroftheCompany,isabeneficiaryofadiscretionarytrustwhichisinterestedinapproximately26%oftheissuedsharecapitalofeachofYuenLoongandChelsey.Mr.LaurentLAMKwingChee,adirectoroftheCompany,isabeneficiaryofadiscretionarytrustwhichisinterestedinapproximately14%oftheissuedsharecapitalofeachofYuenLoongandChelsey.MadamRositaYUENLAMKitWoo,adirectoroftheCompany,isabeneficiaryofadiscretionarytrustwhichisinterestedinapproximately9%oftheissuedsharecapitalofeachofYuenLoongandChelsey.附註：(1)本公司董事林㟺燦先生分別擁有YuenLoong及Chelsey已發行股本約24%權益。本公司董事林㟺偉先生為一項全權信託（其分別擁有YuenLoong及Chelsey已發行股本約26%權益）之全權受益人。本公司董事林㟺熾先生為一項全權信託（其分別擁有YuenLoong及Chelsey已發行股本約14%權益）之全權受益人。本公司董事源林潔和女士為一項全權信託（其分別擁有YuenLoong及Chelsey已發行股本約9%權益）之全權受益人。ReportoftheDirectors董事會報告書34SUBSTANTIALSHAREHOLDERS(Continued)Notes:(Continued)(2)ThecorporateinterestsofProsperitywereattributableonaccountthroughanumberofitswholly-ownedsubsidiaries.AttentiveInvestmentsLimitedheld68,957,000sharesoftheCompanyandwasawholly-ownedsubsidiaryofGeniusChoiceInvestmentsLimitedwhichinturnwasawholly-ownedsubsidiaryofGRInvestmentHoldingsLimited.GRInvestmentHoldingsLimitedwasawholly-ownedsubsidiaryofAccufocusInvestmentsLimitedwhichinturnwasawholly-ownedsubsidiaryofProsperity.Accordingly,GeniusChoiceInvestmentsLimited,GRInvestmentHoldingsLimited,AccufocusInvestmentsLimitedandProsperitywerealldeemedtobeinterestedinthe68,957,000sharesoftheCompanyheldbyAttentiveInvestmentsLimited.Saveasdisclosedabove,theCompanyhasnotbeennotifiedbyanyotherpersonwhohadaninterestin5%ormoreoftheissuedsharecapitaloftheCompanyorshortpositioninthesharesorunderlyingsharesoftheCompanyasrecordedintheregisterrequiredtobekeptbytheCompanypursuanttoSection336oftheSFOasat31stMarch,2006.CHARITABLEDONATIONSDuringtheyear,theGroupmadecharitabledonationsamountingtoapproximatelyHK$386,000.LIQUIDITYANDFINANCIALRESOURCESTheGrouphascashbalanceofHK$217millionandbankloansofHK$15millionasat31stMarch,2006.TheGroup’sbankloansoutstandingat31stMarch,2006weresecuredandwhollyrepayablewithinoneyear.主要股東（續）附註：（續）(2)嘉進之公司權益乃透過其若干全資附屬公司而持有。AttentiveInvestmentsLimited持有本公司68,957,000股股份，並為GeniusChoiceInvestmentsLimited之全資附屬公司，而GeniusChoiceInvestmentsLimited為金源創展有限公司（「金源創展」）之