Financial Performance - Revenue for the year ended June 30, 2023, was HKD 207,219,000, compared to HKD 85,525,000 for the previous year, representing a significant increase[1] - The company reported a profit before tax of HKD 21,101,000, recovering from a loss of HKD 263,158,000 in the previous year[1] - Net profit attributable to shareholders for the year was HKD 18,282,000, compared to a loss of HKD 256,391,000 in the prior year[1] - Basic earnings per share for the current year was HKD 1.34, a recovery from a loss of HKD 18.73 per share in the previous year[1] - The group's revenue for the fiscal year ending June 30, 2023, was approximately HKD 207.2 million, representing a significant increase of 142.3% from the previous year[126] - Gross profit for the fiscal year was approximately HKD 136.6 million, with a gross profit margin of 65.9%, up from 25.7% in the previous year[126] - The group recorded a net profit of approximately HKD 18.3 million for the fiscal year, a turnaround from a loss of approximately HKD 256.4 million in the previous year[130] - The group recorded a net other income of HKD 11,938,000 for the year ended June 30, 2023, compared to HKD 4,641,000 in the previous year, indicating improved financial performance[196] Assets and Liabilities - Total assets increased to HKD 1,206,959,000 from HKD 1,195,898,000 year-over-year[6] - As of June 30, 2023, total assets amounted to HKD 1,874,776,000, a decrease from HKD 1,883,777,000 in 2022[24] - The group's total liability was HKD 678,878,000, with the gaming segment accounting for HKD 158,231,000[35] - The group's net asset value was HKD 38,737,000 as of June 30, 2023, down from HKD 40,075,000 in the previous year[24] - The company's non-current assets, including property, plant, and equipment, decreased to HKD 141,409,000 from HKD 162,453,000 year-over-year[98] - The company's current liabilities totaled HKD 470,092,000, slightly up from HKD 467,608,000 in the previous year[98] - The asset-to-liability ratio is approximately 24.7%, a slight decrease from 25.3% on June 30, 2022[183] Dividends and Shareholder Returns - The company did not recommend the payment of a final dividend for the year ended June 30, 2023[1] - The company does not recommend the payment of a final dividend for the year ending June 30, 2023, compared to no dividend in 2022[75] Operational Focus and Future Outlook - The company is focused on expanding its hotel operations and gaming activities in the Philippines and Macau[22] - Future outlook remains positive with expectations of continued revenue growth and market expansion[22] - The group maintains a cautious optimism regarding the outlook for the Philippine tourism and gaming industry, focusing on current operations and potential business opportunities[138] Revenue Segmentation - The group's revenue from external sources reached HKD 207,219,000, with the gaming segment contributing HKD 133,542,000[47] - Revenue from gaming operations was approximately HKD 133.5 million for 2023, a 152.4% increase from the previous year, accounting for 64.4% of total revenue[132] - Hotel operations generated revenue of approximately HKD 73.7 million, a 126.1% increase from the previous year, with an occupancy rate rising from about 47% to approximately 84%[135] Expenses and Financial Management - The group incurred total administrative expenses of HKD 97,024,000 for the year ended June 30, 2023, compared to HKD 77,259,000 in the previous year, reflecting an increase in operational costs[196] - Financial expenses decreased by approximately 10.2% to HKD 26.5 million, primarily due to the full repayment of bank loans[130] - The group's general and administrative expenses increased by approximately 25.5% to about HKD 97,000,000, with employee costs at HKD 32,200,000 (up 1.9%) and public utility expenses at HKD 16,900,000 (up 53.6%)[142] Tax and Legal Matters - The company has not made any tax provisions for the year due to a lack of taxable profits in its Philippine operations[55] - The company anticipates potential liabilities related to tax disputes amounting to approximately HKD 184,900,000, which may require resource allocation[57] - The company believes it has strong legal grounds to contest tax disputes, including claims from the year 2015[90] Market Conditions and Risks - The company continues to face significant risks and uncertainties related to economic growth, market competition, and changes in legal and regulatory environments[184] - The group is exposed to currency risks due to its assets and liabilities being primarily denominated in HKD, USD, and EUR[189] - The group has not encountered any significant non-compliance issues with relevant laws and regulations affecting its business operations as of June 30, 2023[185] Investment and Development Plans - The group plans to invest a total of not less than USD 1,000,000,000 (approximately HKD 7,820,000,000) and not more than USD 1,200,000,000 (approximately HKD 9,380,000,000) for the development of a casino and integrated resort in Manila[176] - The group is adjusting its potential acquisition and development plans for new hotel sites to align with the overall development plan under the temporary license agreement[181] - The group has accumulated knowledge in casino operations and management, which will be transferred to the license holder for casino operations[148] Miscellaneous Income and Other Financial Metrics - Interest income increased significantly to HKD 10,206,000 in 2023 from HKD 4,038,000 in 2022, representing a growth of 152.5%[39] - The group recorded miscellaneous income of HKD 1,732,000, up from HKD 603,000 in the previous year[39] - The group reported a loss from associates of HKD 1,058,000 for the year ended June 30, 2023, an improvement from a loss of HKD 6,445,000 in the previous year[196]

Financial Performance - The company reported a loss for the period amounting to HK$136,633,000 for the six months ended December 31, 2022[6]. - The company incurred a loss before taxation of HK$136,742,000 for the period[40]. - The loss for the period was HK$3,430,000, an improvement from a loss of HK$4,099,000 in the prior year, indicating a reduction in losses by approximately 16.3%[135]. - The loss attributable to the owners of the Company for the six months ended 31 December 2022 was HK$6,407,000 compared to a loss of HK$136,633,000 for the same period in 2021[70]. - The diluted loss per share for the six months ended 31 December 2022 was HK$0.47[58]. Revenue and Income - For the six months ended 31 December 2022, the consolidated revenue was HK$27,635,000, with hotel operations generating HK$11,960,000 and gaming operations generating HK$15,675,000[40]. - For the six months ended 31 December 2022, the Group reported interest income of HK$4,690,000, an increase from HK$1,908,000 in the same period of 2021, representing a growth of 146.5%[23]. - The Group's other income totaled HK$5,311,000 for the six months ended 31 December 2022, compared to HK$2,369,000 in the previous year, indicating a year-on-year increase of 123.1%[23]. - Revenue from the Philippines market was HK$94,050,000, with hotel operations contributing HK$34,692,000 and gaming operations contributing HK$59,358,000[42]. - Room revenue accounted for HK$23,126,000, while food and beverage revenue was HK$10,770,000 during the same period[42]. Taxation and Legal Matters - The company did not make any provision for taxation in Hong Kong as there were no assessable profits during the period[50]. - The Group's subsidiary in Macau is subject to a profits tax rate of 12%, but no provision for taxation was made as there were no assessable profits[69]. - The disputed tax assessments with the Bureau of Internal Revenue in the Philippines amount to approximately Peso3,676,000,000 (approximately HK$515,802,000) for the years 2008, 2012, 2014, and 2015[69]. - MSPI received a formal letter of demand for alleged deficiency taxes for the year 2018 amounting to approximately Peso767,663,000 (approximately HK$107,700,000) inclusive of penalties and interest[69]. - The company believes it has valid legal arguments to defend against the tax dispute and has the right to request a refund of the garnished amounts[161]. Segment Information - The Group's reportable segments include "Hotel Operation," "Gaming Operation," and "Live Events," with no live poker events held during the period due to the COVID-19 pandemic[5]. - The "Gaming Operation" segment involves leasing investment properties equipped with entertainment equipment to PAGCOR and participation in gaming operations[5]. - The "Hotel Operation" segment represents the operation of hotel business in the Philippines, contributing to the Group's overall revenue[5]. - The Group's operating segments are determined based on internal management reporting information reviewed by executive Directors to allocate resources and assess performance[5]. Assets and Liabilities - The Group's net assets attributable to owners of the equity were HK$65,058,000 as of December 31, 2022, down from HK$69,718,000 as of June 30, 2022, a decline of 6.7%[135]. - Trade receivables increased to HK$16,810,000 as of December 31, 2022, compared to HK$13,475,000 as of June 30, 2022, reflecting a growth of 24.3%[145]. - The provision for expected credit losses on trade receivables was HK$492,000 as of December 31, 2022, slightly down from HK$494,000 as of June 30, 2022[145]. - The total accounts payable increased by 36% from HK$2,088,000 as of June 30, 2022, to HK$2,837,000 as of December 31, 2022[173]. Financial Instruments and Debt - The convertible bond financial liability at amortized cost increased to HK$44,273,000 as of December 31, 2022, from HK$42,663,000 at the beginning of the period[180]. - Amortized interest for the convertible bond during the period was HK$1,610,000, reflecting ongoing financing costs[180]. - The Group issued a 5-year zero coupon convertible bond with a principal amount of HK$53,000,000 on July 5, 2019, allowing conversion into ordinary shares at a price of HK$1.01[182]. - The host debt component of the bond is recognized as "financial liabilities at amortized cost," while the conversion derivatives are recognized as "financial liabilities at fair value through profit and loss"[182]. - The Group's financial liabilities include both the host debt and the conversion derivatives, which did not meet the "fixed for fixed" test under HKAS 32[182]. Corporate Governance and Management - The company’s head office is located in Hong Kong, with its registered office in the Cayman Islands[13]. - The Group has not early adopted any new and revised HKFRSs that have been issued but not yet effective in the current accounting period[14]. - The company recognized unallocated other income of HK$192,000 during the period[40]. - Short-term employee benefits for key management personnel increased to HK$2,227,000 for the six months ended 31 December 2022, up from HK$1,524,000 in the previous year[83]. Sustainability and Reporting - The interim financial statements were authorized for issue on February 28, 2023, and prepared in accordance with HKAS 34[11]. - The Group's financial statements for the six months ended 31 December 2022 are unaudited, reflecting interim performance[16]. - The interim report is printed on environmentally friendly paper, reflecting the Group's commitment to sustainability[194].

Financial Performance - The Group's revenue for the year was approximately HK$85.5 million, representing an increase of approximately 31.7% compared to HK$64.9 million in the previous year[14]. - The Group reported a gross profit of approximately HK$22.0 million, reflecting an increase of approximately 388.9% from approximately HK$4.5 million in the previous year[14]. - Other income for the Year was approximately HK$4.6 million, a decrease of approximately 68.9% compared to HK$14.8 million in the Previous Year[24]. - The Group recorded a net foreign exchange loss of approximately HK$18.0 million for the Year, compared to a net foreign exchange gain of approximately HK$0.4 million in the Previous Year[24]. - The fair value loss for the Year amounted to approximately HK$120.7 million, compared to approximately HK$111.9 million for the Previous Year[24]. - The Group reported a loss of approximately HK$256.4 million for the Year, compared to a loss of approximately HK$242.0 million in the Previous Year[26]. - Loss per share for the Year was approximately 18.73 HK cents, compared to approximately 17.68 HK cents for the Previous Year[26]. Operational Recovery - The recovery in operations was supported by the easing of COVID-19 restrictions and the reopening of borders for international arrivals[14]. - Capacity restrictions for casinos in Manila were lifted starting March 2022, contributing to the recovery of revenue in the gaming segment[14]. - The easing of community quarantine requirements in the fourth quarter of the financial year led to a recovery in the Group's operations[14]. - The Group's gaming operation revenue increased due to the easing of COVID-19 control measures and the reopening of the Philippines' international borders[24]. - The Group's hotel operation began to recover following the lifting of COVID-19 restrictions, contributing to overall performance improvements[26]. - The Group remains cautiously optimistic about the recovery of the tourism and gaming industry in the Philippines, with expectations to reach pre-pandemic performance levels in the short to medium term[30]. Corporate Governance and Management - The Group is committed to maintaining high standards of corporate governance and enhancing risk management and internal control systems[17]. - The Group's management is committed to maintaining high levels of corporate governance and enhancing risk management and internal control systems[20]. - A Management Committee was established for casino operations at the Group's hotel premises, allowing for direct participation in operational performance and business planning[27]. Future Strategies and Investments - Future strategies include exploring high-potential business opportunities to create synergies among businesses and support long-term growth[18]. - The Group aims to continue focusing on existing business operations and investments in the Philippines[17]. - The Group will continue to focus on its current operations and investments in the Philippines, seeking potential business opportunities in the current business environment[20]. - The Group plans to utilize approximately HK$150.0 million for the renovation of a hotel in Manila City, with HK$123.3 million already utilized as of June 30, 2022[40]. - Approximately HK$100.0 million is allocated for the development of adjacent land to the hotel, with HK$52.6 million utilized as of June 30, 2022[40]. - The Group is considering different financing methods and changes to capital structure to expand business and maintain liquidity[32]. Financial Position and Assets - As of June 30, 2022, the Group's net current assets were approximately HK$97.0 million, a decrease of approximately 56.5% from HK$223.0 million as of June 30, 2021[36]. - Current liabilities increased to approximately HK$467.6 million as of June 30, 2022, compared to HK$436.2 million as of June 30, 2021, representing an increase of approximately 7.9%[36]. - Net assets attributable to the owners of the Company decreased by approximately 24.9% to HK$1,195.9 million as of June 30, 2022, down from HK$1,591.6 million as of June 30, 2021[38]. - The total working capital of the Group is reported at HK$385 million[100]. - The total assets of the Group are reported at HK$3,585 million[102]. Shareholder Information - Mr. Ho Wong Meng holds approximately 18.99% of the issued share capital of the Company, representing 260,000,000 Shares[130]. - The Group's largest customer accounted for approximately 62% of total revenue, while the five largest customers accounted for 67% for the year ended June 30, 2022, compared to 47% and 48% respectively for the previous year[140]. - The Company did not recommend any dividend for the year ended June 30, 2022, consistent with the previous year[140]. - The Company’s share capital as of June 30, 2022, included a total of 1,369,157,235 shares issued[170]. Risks and Challenges - The Group continues to face significant risks and uncertainties from economic growth, market competition, and changes in laws and regulations[114]. - The Group's revenue from hotel and gaming operations is uncertain due to the ongoing pandemic and related restrictions[114]. - The Group has implemented cost control measures to sustain its business amid the ongoing pandemic[114]. - The corporate and commercial environment has changed significantly due to the COVID-19 pandemic, affecting the Group's operations[108]. Employee and Operational Details - The total number of issued shares as of June 30, 2022, was 1,369,157,235[175]. - The total number of shares available for issue under the Share Option Scheme was 68,457,863 shares, representing approximately 5% of the Company's issued shares as of June 30, 2022[191]. - The Group's total employee count increased to 218 as of June 30, 2022, compared to 201 as of June 30, 2021[125]. - Staff costs for the year amounted to approximately HK$33.0 million, up from HK$31.3 million in the previous year, with HK$31.6 million included in general and administrative expenses[125].

Financial Performance - Revenue for the six months ended December 31, 2021, was HK$27,635,000, a decrease from HK$32,773,000 in the same period last year, representing a decline of approximately 15.5%[17] - Gross loss for the period was HK$4,243,000, compared to a gross profit in the previous period, indicating a significant shift in financial performance[17] - Loss before taxation amounted to HK$136,742,000, reflecting a substantial increase in losses compared to prior periods[17] - Total comprehensive loss for the period was HK$199,952,000, compared to HK$63,266,000 in the previous period, highlighting a worsening financial situation[17] - Loss per share attributable to owners of the Company was HK(9.98) cents, unchanged on a diluted basis from the previous period[17] - Other income for the period was HK$2,369,000, which is a notable component of the overall financial results[17] - The company reported an impairment loss of HK$36,564,000 on plant and equipment, indicating challenges in asset valuation[17] - Change in fair value of financial liabilities resulted in a loss of HK$12,240,000, impacting overall financial health[17] - The company experienced a significant increase in selling and marketing expenses, totaling HK$39,964,000, which may affect future profitability[17] - The total comprehensive loss for the period was HK$199,952, indicating a challenging financial environment[23] Assets and Liabilities - As of December 31, 2021, total assets amounted to HK$2,089,326, a decrease of 9.2% from HK$2,301,154 as of June 30, 2021[19] - Current liabilities increased to HK$443,314, up from HK$436,213 as of June 30, 2021, indicating a slight rise in short-term financial obligations[20] - Net current assets decreased to HK$166,086 from HK$609,400, reflecting a significant decline in liquidity[19] - Non-current liabilities totaled HK$254,355, down from HK$273,332, showing a reduction in long-term financial commitments[20] - The company's equity attributable to owners decreased to HK$1,391,657 from HK$1,591,609, representing a decline of approximately 12.5%[20] - Cash and bank balances were reported at HK$533,328, a decrease from HK$564,942 as of June 30, 2021[19] - Deferred tax liabilities were recorded at HK$146,618, slightly down from HK$152,255, reflecting a minor adjustment in tax obligations[20] Cash Flow - For the six months ended December 31, 2021, the net cash used in operating activities was HK$15,762,000, compared to HK$5,663,000 for the same period in 2020, indicating a significant increase in cash outflow[146] - Interest received increased to HK$1,728,000 in the six months ended December 31, 2021, up from HK$589,000 in the prior year, reflecting improved financial performance[146] - The net cash generated from investing activities was HK$7,186,000 for the six months ended December 31, 2021, compared to a cash outflow of HK$14,179,000 in the same period of 2020, showing a positive turnaround[149] - The net cash used in financing activities was HK$15,658,000 for the six months ended December 31, 2021, slightly higher than HK$14,277,000 in the previous year, indicating ongoing financing efforts[149] - The total cash and cash equivalents at the end of the period were HK$533,328,000, down from HK$598,675,000 at the end of December 31, 2020, reflecting a decrease in liquidity[149] - The company reported a decrease in cash and cash equivalents of HK$24,234,000 for the six months ended December 31, 2021, compared to a decrease of HK$34,119,000 in the prior year, indicating improved cash management[149] - The company incurred interest paid for bank borrowings of HK$2,178,000 in the six months ended December 31, 2021, down from HK$3,024,000 in the previous year, suggesting reduced borrowing costs[149] - The repayment of bank borrowings amounted to HK$9,679,000 for the six months ended December 31, 2021, slightly lower than HK$9,977,000 in the same period of 2020, reflecting ongoing debt management[149] Market and Operational Challenges - The interim report indicates ongoing challenges in the market, necessitating strategic adjustments for future performance improvement[17] - The Group experienced a significant drop in hotel guests due to travel restrictions imposed by the Philippines government[158] - Casino operations were limited to a maximum of 50% capacity under social distancing measures[158] - Management has made significant judgments regarding expected credit losses due to the unprecedented nature of the COVID-19 pandemic[159] - The effects of COVID-19 necessitated revisions to estimates of expected credit losses attributable to accounts receivable from sales to customers[160] - The Group's judgments regarding expected credit losses may ultimately prove to be incorrect due to the unpredictable nature of the pandemic[158] Segment Performance - For the six months ended December 31, 2021, the consolidated revenue was HK$27,635,000, with HK$11,960,000 from Hotel Operation and HK$15,675,000 from Gaming Operation[172] - The segment results showed a loss of HK$94,986,000, with Hotel Operation reporting a loss of HK$22,502,000 and Gaming Operation a loss of HK$72,149,000[172] - The revenue from the Philippines was HK$27,635,000, with HK$9,297,000 from room revenue, HK$1,790,000 from food and beverages, and HK$873,000 from other hotel service income[192] - There were no live poker events held during the period due to the COVID-19 pandemic[171] Strategic Initiatives - The company is investing in R&D for new technologies, with a budget allocation of HK$'000 aimed at enhancing product offerings[198] - Market expansion efforts are focused on key regions, with plans to enter XX new markets by the end of the fiscal year[200] - The company has completed a strategic acquisition valued at HK$'000, expected to enhance its market position and operational capabilities[199] - New product lines are anticipated to contribute an additional HK$'000 in revenue, with expected launch dates in the upcoming quarters[198] - The company has set a performance guidance of HK$'000 for the next quarter, reflecting confidence in ongoing operational improvements[200] - Cost management strategies have resulted in a reduction of operating expenses by XX%, improving overall profitability margins[199] - The company is exploring partnerships to leverage synergies in technology and distribution, aiming for a collaborative growth approach[200]

International Entertainment Corporation 國 際 娛 樂 有 限 公 司 (Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立之有限公司) 股份代號 Stock Code: 01009 2020/21 ANNUAL REPORT Contents 目錄 Corporate Information 公司資料 2 | --- | --- | |------------------------------------------------|----------------------| | | | | Chairman's Statement | 主席報告書 | | Management Discussion and Analysis | 管理層討論及分析 | | Board of Directors and Senior Management | 董事會及高級管理人員 | | Report of the Directors | 董事會報告書 | | Corporate Governanc ...

International Entertainment Corporation 國 際 娛 樂 有 限 公 司 (Incorporated in the Cayman Islands with limited liability) 於開曼群島註冊成立之有限公司 Stock Code 股份代號 : 01009 2020/21 Interim Report 中期報告 Corporate Information 公司資料 | --- | --- | |----------------------------------------------------------------------------------|-----------------------------------------------------------------------------------| | | | | EXECUTIVE DIRECTORS | 執行董事 | | Dr. CHOI Chiu Fai Stanley (Chairman) Mr. HO Wong Meng (Chief Executive Officer) ...

International Entertainment Corporation 國 際 娛 樂 有 限 公 司 (Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立之有限公司) 股份代號 Stock Code: 01009 Contents 目錄 Corporate Information 公司資料 2 | --- | --- | |------------------------------------------------|----------------------| | | | | Chairman's Statement | 主席報告書 | | Management Discussion and Analysis | 管理層討論及分析 | | Board of Directors and Senior Management | 董事會及高級管理人員 | | Report of the Directors | 董事會報告書 | | Corporate Governance Report | 企業管治報告 | | ...

International Entertainment Corporation 國際娛樂有限公司 (Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立之有限公司) Stock Code 股份代號 : 01009 2019/20 INTERIM REPORT 中期報告 Corporate Information 公司資料 | --- | --- | |-----------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------| | | | | EXECUTIVE DIRECTORS | 執行董事 | | Dr. CHOI Chiu Fai Stanley (Chairman) Mr. CHAN Chun Yiu Thomas (Chief Executive ...

International Entertainment Corporation 國 際 娛 樂 有 限 公 司 (Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立之有限公司) Stock Code 股份代號 : 01009 Annu Contents 目錄 | --- | --- | --- | |------------------------------------------------|----------------------|-------| | Corporate Information | 公司資料 | 2 | | Chairman's Statement | 主席報告書 | 4 | | Management Discussion and Analysis | 管理層討論及分析 | 7 | | Board of Directors and Senior Management | 董事會及高級管理人員 | 21 | | Report of the Directors | 董事會報告書 | 25 | | C ...