March 03, 2015 10:36 AM ET

Hotels, Restaurants and Leisure

Company Overview of Shangri-La Asia Limited

Company Overview

Shangri-La Asia Limited, an investment holding company, owns and operates hotels and associated properties worldwide. It operates through three segments: Hotel Operations, Hotel Management, and Property Rentals. The company also provides hotel management, marketing, consultancy, reservation, and related services; and owns and leases office properties, commercial properties, and serviced apartments/residences. In addition, it is involved in real estate development and operation activities; operation of staff training academy; ownership and operation of golf clubs; and property investment and office management activities. The company operates hotels under the Shangri-La, Traders, Rasa, Summer ...

Kerry Centre

28th Floor

683 King’s Road

Quarry Bay,  

Hong Kong

Founded in 1971

27,100 Employees

Phone:

852 2525 9146

Fax:

852 2523 8842

Key Executives for Shangri-La Asia Limited

Chairman, Chief Executive Officer, Chairman of Executive Committee, Chairman of Nomination Committee and Member of Remuneration Committee
Age: 59
Total Annual Compensation: $1.0M
Chief Financial Officer, Executive Director, Member of Executive Committee and Member of Nomination Committee
Age: 62
Total Annual Compensation: $2.0M
Chief Operating Officer, Executive Director, Chief Executive Officer of Shangri-La International Hotel Management Limited and President of Shangri-La International Hotel Management Limited
Age: 49
Total Annual Compensation: $2.3M
Executive Director and Member of Executive Committee
Age: 70
Total Annual Compensation: $1.6M
Compensation as of Fiscal Year 2013.

Shangri-La Asia Limited Key Developments

Shangri-La Asia Limited Announces Audited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014

Shangri-La Asia Limited announced audited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported revenue of MYR 125,050,000 against MYR 131,743,000 a year ago. Profit before income tax was MYR 17,676,000 against MYR 74,689,000 a year ago. Profit for the period was MYR 9,186,000 against MYR 70,997,000 a year ago. Profit attributable to equity holders of the company was MYR 9,952,000 or 2.26 cents per basic share against MYR 67,763,000 or 15.40 cents per basic share a year ago. For the year, the company reported revenue of MYR 513,679,000 against MYR 511,225,000 a year ago. Profit before income tax was MYR 119,497,000 against MYR 168,181,000 a year ago. Profit for the year was MYR 85,792,000 against MYR 139,808,000 a year ago. Profit attributable to equity holders of the company was MYR 79,340,000 or 18.03 cents per basic share against MYR 130,367,000 or 29.63 cents per basic share a year ago. Net assets per share attributable to the company's equity holders were MYR 2.1704 against MYR 2.1701 a year ago. Net cash inflow from operating activities was MYR 149,678,000 against MYR 156,880,000 a year ago. Purchase of property, plant and equipment was MYR 106,205,000 against MYR 32,903,000 a year ago. The reduced financial performance for 2014 was primarily due to the absence of a MYR 29.744 million write back in 2013 of an impairment provision related to the group's investment in Myanmar, as well as share of associates losses arising from a net fair value loss on the revaluation of the Shangri-La Residences held by Shangri-La Yangon Company Ltd. the groups 22.22% associate.

Shangri-La Asia Limited Provides Earnings Guidance for the Year Ended December 31, 2014

The board of directors of Shangri-La Asia Limited announced to the shareholders of the company and potential investors that, based on the information currently available to the company and the preliminary assessment of the unaudited management financial statements of the Group, the Board anticipates that the Group's unaudited operating profit before non-operating items and after tax and after share of non-controlling interests (Operating Profit) for the year ended December 31, 2014 will increase by not less than 30% as compared to that for the year ended December 31, 2013. This improvement in the unaudited Operating Profit was principally due to the increase in operating results of the investment properties in Mainland China and the decrease in pre-opening expenses of new projects.

Shangri-La Asia Limited Announces Appointment of KUOK Hui Kwong as Nonexecutive Director

The board of directors of Shangri-La Asia Limited announced that Ms KUOK Hui Kwong has been appointed as a non-executive Director of the company with effect from 27 October 2014. Ms KUOK, aged 36, is a director of Kerry Holdings Limited, and a governor of Kerry Group Kuok Foundation (Hong Kong) Limited. She is also currently a director of a subsidiary of the company. Ms KUOK received her undergraduate degree from Harvard University, USA. She is the sister of Mr. KUOK Khoon Chen, the Chairman of the company, and the cousin of Ms TEO Ching Leun, the Company Secretary of the company.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
March 19, 2014
Vacant Land In Male
 

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