S E A Holdings Limited — Earnings Release 2002

Mar 21, 2003

Listed Company Information

SEA HOLDINGS<00251> - Results Announcement S E A Holdings Limited announced on 21/03/2003: (stock code: 00251 ) Year end date: 31/12/2002 Currency: HKD Auditors' Report: Unqualified (Audited ) (Audited ) Last Current Corresponding Period Period from 01/01/2002 from 01/01/2001 to 31/12/2002 to 31/12/2001 Note ('000 ) ('000 ) Turnover : 741,459 602,366 Profit/(Loss) from Operations : (113,617) 362,625 Finance cost : (196,155) (272,427) Share of Profit/(Loss) of Associates : (5,777) (15,407) Share of Profit/(Loss) of Jointly Controlled Entities : (611) (427) Profit/(Loss) after Tax & MI : (200,751) 35,939 % Change over Last Period : N/A % EPS/(LPS)-Basic (in dollars) : (0.393) 0.07 -Diluted (in dollars) : N/A 0.066 Extraordinary (ETD) Gain/(Loss) : N/A N/A Profit/(Loss) after ETD Items : (200,751) 35,939 Final Dividend : NIL 10 cents per Share (Specify if with other : N/A N/A options) B/C Dates for Final Dividend : N/A Payable Date : N/A B/C Dates for Annual General Meeting : 30/04/2003 to 07/05/2003bdi. Other Distribution for : N/A Current Period B/C Dates for Other Distribution : N/A Remarks: 1. Turnover In order to conform with the current year's presentation, the interest income for year ended 31st December, 2001 had been reclassified from turnover to other revenue. In the opinion of the directors, the reclassification reflects the current intention of the Group as investment of surplus fund is a non-core business of the Group. 2. The calculation of the basic and diluted (loss) earnings per share is based on the following data: (Loss) Earnings Year ended 31st December, 2002 2001 HK$'000 HK$'000 (Loss) earnings for the year and (loss) earnings for the purposes of basic and diluted (loss) earnings per share (200,751) 35,939 ========= ======= Number of shares Year ended 31st December, 2002 2001 Weighted average number of ordinary shares for the purposes of basic (loss) earnings per share 511,246,868 509,885,312 Effect of dilutive potential ordinary shares Options N/A 5,600,000 Warrants N/A 28,572,775 --------------------------------------------------------------------- Weighted average number of ordinary shares for the purposes of diluted (loss) earnings per share 511,246,868 544,058,087 =========== =========== No diluted loss per share has been calculated for the year ended 31st December, 2002 as the exercise of the Company's share options and warrants and the conversion of the convertible promissory note of a subsidiary would result in a decrease in the loss per share.