PDF《马斯葛集团有限公司》

A N N U A L R E P O R T 年报2009 马斯葛集团有限公司 (Stock Code 股份代号: 00136) Annual Report

2009 二零零九年年报马斯葛集团有限公司 Contents 目录

2 Corporate Information 公司资料

4 Chairman'

s Statement 主席报告

6 Management Discussion and Analysis 管理层讨论及分析

10 Directors and Senior Management Profiles 董事及高层管理人员简介

13 Corporate Governance Report 企业管治报告

18 Directors'

Report 董事会报告

24 Independent Auditor'

s Report 独立核数师报告

26 Consolidated Income Statement 综合收入报表

27 Consolidated Balance Sheet 综合资产负债表

28 Consolidated Statement of Changes in Equity 综合权益变动表

30 Consolidated Cash Flow Statement 综合现金流量表

32 Notes to the Consolidated Financial Statements 综合财务报表附注

95 Financial Summary 财务概要

96 Particulars of Investment Properties 投资物业详情

2 Mascotte Holdings Limited 马斯葛集团有限公司 ? Annual Report

2009 年报 Corporate Information 公司资料 董事 执行董事 Peter Temple Whitelam (主席) 老元华 (代理行政总裁) 欧阳启初 林叔平 宋佳嘉 独立非执行董事 陈仕鸿 Kristi L Swartz 许惠敏 公司秘书 老元华 注册办事处 Clarendon House

2 Church Street Hamilton HM

11 Bermuda 总办事处兼主要营业地点 香港 香港仔 黄竹坑道28号 保济工业大厦1楼 网址 www.

mascotte.com DIRECTORS Executive Directors Peter Temple Whitelam (Chairman) Lo Yuen Wa Peter (Acting Chief Executive Officer) Au Yeung Kai Chor Lam Suk Ping Song Jiajia Independent Non-Executive Directors Chan Sze Hung Kristi L Swartz Hui Wai Man, Shirley COMPANy SECRETARy Lo Yuen Wa Peter Registered Office Clarendon House

2 Church Street Hamilton HM

11 Bermuda HEAD OFFICE AND PRINCIPAL PLACE OF BUSINESS 1st Floor, Po Chai Industrial Building

28 Wong Chuk Hang Road Aberdeen Hong Kong WEBSITE ADDRESS www.mascotte.com Mascotte Holdings Limited 马斯葛集团有限公司 ? Annual Report

2009 年报

3 Corporate Information 公司资料 主要往来银行 中国银行 (香港) 有限公司 香港上海蠓嵋杏邢薰 核数师 玛泽会计师事务所有限公司 股份过户登记处 百慕达 Butterfield Fulcrum Group (Bermuda) Limited Rosebank Centre

11 Bermudiana Road Pembroke Bermuda 香港 卓佳秘书商务有限公司 香港 湾仔 皇后大道东28号 金钟汇中心26楼PRINCIPAL BANKERS Bank of China (Hong Kong) Limited The Hongkong and Shanghai Banking ? Corporation Limited AUDITOR Mazars CPA Limited SHARE REGISTRARS Bermuda Butterfield Fulcrum Group (Bermuda) Limited Rosebank Centre

11 Bermudiana Road Pembroke Bermuda Hong Kong Tricor Secretaries Limited 26th Floor, Tesbury Centre

28 Queen'

s Road East Wanchai Hong Kong

4 Mascotte Holdings Limited 马斯葛集团有限公司 ? Annual Report

2009 年报 Chairman'

s Statement 主席报告 本年度回顾 於回顾年度,尤其是下半年,全球经济经历近 数十年来最严重之危机.由美国次按危机触发 金融海啸,引致全球金融市场发生规模空前之 大动荡,而最终演变为全球经济之急剧放缓. 本集团不可避免地受到严重冲击.然而,受惠 於本集团就其业务融资而采取之审慎措施以及 本集团就巩固本公司资本基础而作出之前期努 力,其中包括於本年度上半年进行供股所得之 138,000,000港元,本集团得以成功应对是次风 暴而不致於陷入任何重大财务或经营困难.於 本年度末,尽管连续两年录得亏损,本集团继 续保持稳健之财务状况及充裕之流动资金,且 其资本负债比率为零. 前景 最近数月,各大央行及各国政府尤其是七国集 团政府作出一致行动,稳定金融市场及刺激经 济全面增长,年初之连续下跌之势似乎已被遏 制.进入二零零九年第二季,全球主要股市均 见不同程度反弹.然而,目前尚不能断言全球 经济及证券市场已经开始复苏,尤其在近期爆 发甲型H1N1流感,导致不明朗因素增加之情况 下. 本集团t解周边之经济环境充满挑战,故本集 团於进行业务时采取审慎策略并严格监控经营 成本.同时,本集团仍旧承诺其多元化策略, 旨在投资合适项目,尤其是中华人民共和国之 自然资源投资机会,以扩阔本集团长远可持续 发展之收入基础.於财政年度完结后,本集团 透过收购位於云南省之林地之若干权益,迈出 了自然资源投资之第一步.该收购事项乃透过 本公司之可换股债券提供资金,其中部分可换 股债券随后转换为由本公司发行之200,000,000 股新股份,从而进一步拓阔本集团之资本基础. The year in review During the year under review and particularly in the second half, the global economy has been experiencing its worst crisis in recent decades. The financial tsunami originated from the subprime mortgage crisis in the United States caused turbulences of an unprecedented scale throughout financial markets worldwide and eventually fed through into a sharp downturn in the general global economy. Inevitably we were hit hard. However, thanks to the conservative approach we take in financing our activities as well as our previous efforts in strengthening the Company'

s capital base, which include a HK$138 million rights issue in the first half of the year, the Group has been able to weather the storm without running into any significant financial or operational difficulties. At the end of the year and despite two successive years of losses, the Group remained in a sound financial position with strong liquidity and no gearing. Prospects In recent months, concerted efforts by central banks and governments especially from G7 countries to stabilise the financial markets and to stimulate the general economy appear to have curtailed the downward spiral that was experienced earlier in the year. Major stock markets around the world have registered certain degree of rebound as we entered the second quarter of 2009. However, it remains premature to conclude that the world economy and the securities market have already commenced a recovery, particularly with the added uncertainty associated with the recent outbreak of the influenza A (H1N1). Recognising the challenging economic environment surrounding us, the Group is adopting a cautious approach in conducting its business and is exercising strict control over operating costs. At the same time the Group remains committed to its diversification strategy aiming to invest in suitable projects, particularly natural resources investment opportunities in the People'

s Republic of China, to broaden the Group'

s long term sustainable income base. Subsequent to the financial year end, the Group has made its first move in natural resources investment through the acquisition of certain interests in forestry lands in the Yunnan Province. The acquisition was financed by convertibles bonds of the Company, part of which were subsequently converted into

200 million new shares issued by the Company which further enlarged our capital base. Mascotte Holdings Limited 马斯葛集团有限公司 ? Annual Report

2009 年报

5 Chairman'

s Statement 主席报告 致谢 吾等谨此就各股东、业务夥伴及员工一直对本 集团的鼎力支持及竭诚努力,以及前任董事会 成员於过去和现在作出的宝贵贡献,致以衷心 感谢. 代表董事会 主席 Peter Temple Whitelam 香港,二零零九年七月二十八日 Appreciation We wish to thank our shareholders, business partners and staff for their on-going support and commitment;

as well as our former Board members for their valuable contributions past and present. On behalf of the Board Peter Temple Whitelam Chairman Hong Kong,

28 July

2009 6 Mascotte Holdings Limited 马斯葛集团有限公司 ? Annual Report

2009 年报 Management Discussion and Analysis 管理层讨论及分析 财务业绩 诚如本公司於二零零九年四月二十八日及二零 零九年七月十六日之盈利警告公布所预期,截 至二零零九年三月三十一日止年度录得重大亏 损.本年度股权持有人应占亏损为345,300,000 港元,而去年所占亏损为232,800,000港元. 截至二零零九年三月三十一日止年度的每股 亏损为1.34港元(二 零零八年:1.92港元(重 列) ) . 末期股息 董事会不建议派发截至二零零九年三月三十一 日止年度之末期股息 (二零零八年:无) . 业务回顾及前景 证券投资 由於证券市场急剧下挫,故本集团之证券买卖 业务遭受重创,本年度录得已变现及未变现 亏损合共为225,200,000港元(二 零零八年: 221,000,000港元) . 然而, 於财政年度完结后,股市出现反弹,令本集团审慎乐观,预期 新年度证券买卖会有些起色. 照相、电器及多媒体配件之制造及销售 於本年度,该分类营业额由198,900,000港元减 少至186,200,000港元,较去年减少6.4%.得 益於本集团照相产品之可观需求,上半年客户 需求稳定,表现强劲.然而,於本年度下半年 经济衰退开始影响该分类之业务表现.材料及 劳工成本增加及人民币升值导致该分类之毛利 率较去年下跌约2%. FINANCIAL RESULTS As anticipated in the Company'

s profit warning announcements dated

28 April

2009 and

16 July 2009, a substantial loss was recorded for the year ended

31 March 2009. Loss attributable to equity holders for the year was HK$345.3 million, as compared the loss of HK$232.8 million in the previous year. Loss per share for the year ended

31 March

2009 was HK$1.34 (2008: HK$1.92 (restated)). FINAL DIVIDEND The Board does not recommend the payment of a final dividend for the year ended

31 March

2009 (2008: Nil). BUSINESS REVIEW AND PROSPECTS Securities Investment As a consequence of the severe downturn in the stock market, the Group'

s securities trading activities have badly suffered and reported realised and unrealised losses totalling HK$225.2 million for the year (2008: HK$221.0 million). Some cautious optimism can, however, be drawn from the stock market rebound occurring after the financial year end which may bring about an improvement in securities trading results for the new year. Manufacture and Sale of Photographic, Electrical and Multimedia Accessories During the year, this segment'

s turnover decreased from HK$198.9 million to HK$186.2 million, representing a decrease of 6.4% as compared with last year. Fuelled by encouraging demand for the Group'

s photographic products, the first half was relatively strong with steady customer demand. However, the economic recession began to impact this segment'

s business in the second half of the year. The increase in material and labou........