The Directors of Banco Tai Fung S.A.R.L.
(the “Bank”) submit their report together with the audited
accounts of the Bank for the year ended 31st December 2003.
Principal activities
The principal activities of the Bank are the provision of banking,
financial and other related services.
Results and appropriations
The results of the Bank for the year ended 31st
December 2003 are set out in the profit and loss account on page 6.
The Directors recommend the payment of a dividend of MOP70 per share,
totalling MOP70,000,000.
Reserves
Movements in the reserves of the Bank during the year are set out in
note 23 to the accounts.
Fixed assets
Details of the movements in fixed assets of the Bank are shown in note
18 to the accounts.
Directors
The Directors during the year and up to the date of this report are:
| Chairman |
: |
Fung Ka York |
| Vice-Chairman |
: |
Howard H.H. Ho |
| Executive Directors |
: |
Zhang Hongyi |
| |
|
Long Rongshen |
| |
|
Ho Hao Tong |
| |
|
Sio Ng Kan |
| Directors |
: |
Fu Iat Kong |
| |
|
Yan Ting Fu |
(Resigned on 28th March 2003) |
|
| |
|
Ho Hao Chio |
| |
|
Cai Xiaofeng |
(Appointed on 28th March 2003) |
|
| |
|
Ho Hao Veng |
| |
|
Ma Sao Lap |
Auditors
The accounts have been audited by Lowe Bingham & Matthews
- PricewaterhouseCoopers who retire and, being eligible, offer themselves
for re-appointment.
On behalf of the Board
Fung Ka York
Chairman
Macau, 25th March 2004
|
