Macau E&M Holding Limited — Earnings Release 1999

May 9, 2000

Listed Company Information

SHUM YIP INV<0604> - Results Announcement Shum Yip Investment Limited announced on 9/5/2000: (stock code: 604) Year end date: 31/12/1999 Currency: HKD (Audited) (Audited) Last Current Corresponding Period Period from 1/1/1999 from 1/1/1998 to 31/12/1999 to 31/12/1998 ('000) ('000) Turnover - Continuing : 964,661 795,793 - Discontinued : - - Operating Profit/(Loss) - Continuing : 210,914 242,413 - Discontinued : - - Total Operating Profit/(Loss) : 210,914 242,413 Share of Profit/(Loss) of Associated Companies : 144,641 84,596 Share of Profit/(Loss) of Jointly Controlled Entities : - - Profit/(Loss) after Tax & MI : 231,491 208,933 % Change over Last Period : +10.80% EPS/(LPS)-Basic : 22.26 cents 20.14 cents -Diluted : 21.16 cents 19.07 cents Extraordinary (ETD) Gain/(Loss) : - - Profit/(Loss) after ETD Items : 231,491 208,933 Final Dividend per Share : 3.70 cents 3.70 cents (Specify if with other options) : N/A N/A B/C Dates for Final Dividend : 9/6/2000 to 15/6/2000 bdi. Payable Date : 21/7/2000 B/C Dates for Annual General Meeting : 9/6/2000 to 15/6/2000 bdi. Other Distribution for Current Period : N/A B/C Dates for Other Distribution : N/A Remarks: 1999 1998 HK$'000 HK$'000 (1) TURNOVER Turnover represents proceeds from sale of completed properties and development properties, gross rental income, income from transportation services and others. Details are as follows: Sales of completed properties and development properties 530,908 325,509 Gross rental income 126,202 117,428 Income from transportation services 256,246 304,521 Others 51,304 48,335 ----------------------- 964,661 795,793 ======================= Further to the release of the final results announcement on teletext on 9/5/2000, the Company subsequently notified the Exchange that the breakdowns in 1999 figures should be read as the above instead of the previously stated as below:- Sales of completed properties and development properties 541,789 Gross rental income 126,202 Income from transportation services 251,962 Others 44,708 (2) EARNINGS PER SHARE The calculation of the basic and diluted earnings per share is based on the following data: The calculation of basic earnings per share was based on the profit for the year of HK$231,491,000 (1998: HK$208,933,000) and on the weighted average number of 1,039,744,000 (1998: 1,037,500,000) shares in issue during the year. The calculation of diluted earnings per share was based on the net profit for the year HK$231,491,000 (1998: HK$208,933,000) adjusted for the interest on convertible bonds of approximately HK$11,234,000 (1998: HK$13,401,000) and the diluted weighted average number of 1,147,168,128 (1998: 1,165,637,195) shares in issue during the year. The diluted weighted average number of shares has calculated after taking into consideration of the outstanding convertible bonds and share options as of 31st December, 1999. The effect of the dilutive potential ordinary shares that would result from conversion of the outstanding convertible bonds on the weighted average number of shares in issue during the year was 107,424,128 (1998: 128,137,195) shares. The adjustment to comparative basic and diluted earnings per share arising from the changes in accounting policy noted below is as follows: Basic Diluted HK cents HK cents Reconcilation of 1998 earnings per share Reported figure before adjustments 20.16 19.09 Adjustments arising from the adoption of SSAP1 and 24 (0.02) (0.02) ------------------------ Restated 20.14 19.07 ======================== For more details, please refer to the press announcement today.