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：林燦先生（主席）林偉先生（董事總經理）源林潔和女士林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燦先生及林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26BIOGRAPHICALDETAILSOFDIRECTORSAN