GALAXY ENTERTAINMENT GROUP LIMITED

GALAXY ENTERTAINMENT GROUP LIMITED

Previous company name
K. WAH CONSTRUCTION MATERIALS LIMITED
Name change date
11/1/2005
Company Overview
Galaxy Entertainment Group Limited is an investment holding company, which through its subsidiaries, engaged in the operation of gaming and entertainment facilities in Macau, such as casinos, resorts, and hotels. The company, through its subsidiaries, is also involved in the the manufacture, sale and distribution of construction materials in Hong Kong, Macau and Mainland China. Its construction material products include concrete pipes and products, aggregates, ready-mixed concrete, asphalt, concrete piles, slag, and cement. The company was incorporated in 1955. It was formerly known as K. Wah Construction Materials Limited and changed its name to Galaxy Entertainment Group Limited in 2005. Its registered headquarters is based in Central, Hong Kong. Galaxy Entertainment Group is a public company listed on the Hong Kong Stock Exchange under the stock code 0027.
The company’s subsidiary is Galaxy Casino, S.A., which is engaged in the operation of gaming and entertainment facilities, such as casinos and luxury hotels.
Business Summary
The principal activity of the Company is investment holding. The principal activities of the Company and its subsidiaries are operation in casino games of chance or games of other forms, provision of hospitality and related services in Macau, and the manufacture, sale and distribution of construction materials in Hong Kong, Macau and Mainland China.

On 22nd July 2005, the acquisition (the ‘Acquisition’) of 88.1% of the voting shares carrying 97.9% of the economic interest (the
‘Galaxy Shares’) in Galaxy Casino, S.A. (‘Galaxy’) by Canton Treasure Group Ltd. (“Canton Treasure ), a wholly owned
subsidiary of the Company, at the purchase price of HK$18,405,198,023, was completed. Galaxy is a company incorporated in
Macau holding one of only three gaming concessions awarded by the Macau government to operate casinos in Macau.

Following the Acquisition, gaming and entertainment have become the major business of the Group. To better reflect this new
business focus, the shareholders of the Company approved at the extraordinary general meeting duly convened and held on
12th October 2005 the change of name of the Company to ‘Galaxy Entertainment Group Limited’ which became effective on 26th October 2005.
Description and history
The principal activity of the Company is investment holding. The principal activities of the Company and its subsidiaries are operation in casino games of chance or games of other forms, provision of hospitality and related services in Macau, and the manufacture, sale and distribution of construction materials in Hong Kong, Macau and Mainland China.

HISTORY

The Company is a limited liability company incorporated in Hong Kong and has its listing on the Main Board of The Stock Exchange of Hong Kong Limited 7 October 1991.

The predecessor of K. Wah Construction Materials Ltd was first listed on the Hong Kong Stock Exchange in 1991 as International Pipe Ltd, a leading company in the manufacture, sale, and distribution of concrete pipes and other precast concrete products.

Currently, the Company is managing numerous subsidiary and associated companies supplying various types of construction materials and products to both private and public sectors in Hong Kong and China. It is the most integrated construction materials company listed on the Hong Kong Stock Exchange and is also one of the five major construction materials suppliers in Hong Kong.

The founder and Chairman of the Company, Dr. Lui Che Woo, MBE, JP, embarked on the business in construction materials in 1955 when the first K. Wah company was established. Dr. Lui foresaw that the demand for construction materials would increase dramatically to cope with the rapid growth of population and economy of Hong Kong. Such prescience was fully borne out by the expansive evolution of the Company in the past decades.

The Company was ultimately renamed as K. Wah Construction Materials Ltd in May 1997 after the acquisition of substantial construction materials businesses in Hong Kong and China from its mother company, K. Wah International Holdings Ltd. Since then, the Company has expanded its business to include quarrying, ready-mixed concrete, cement, other concrete products, and asphalt. It has also undergone an organisational restructure to enhance operational and cost efficiency.

In the past years, the Company has established a full-range vertical integration of construction materials operations. Besides the solid business foundation in Hong Kong, the Company is also progressive in the strategic business developments in China. Operations are set up in Beijing, Shanghai, Guangzhou, Huidong, Shenzhen, and Zhuhai. A localisation policy has also been adopted to enhance operational efficiency.

On 22nd July 2005, the Group completed the acquisition of 88.1% of the voting shares carrying 97.9% of the economic interest in Galaxy Casino, S.A. (‘Galaxy’). Further details of the acquisition are included in note 38(a) below. Following the acquisition, gaming and entertainment have become one of the major businesses of the Group. To better reflect this new business focus, the shareholders of the Company approved at the extraordinary general meeting duly convened and held on 12th October 2005 the change of name of the Company to ‘Galaxy Entertainment Group Limited’ which became effective on 26th October 2005.

Formerly known as K. Wah Construction Materials Limited and changed its name to Galaxy Entertainment Group Limited

Business Line
An investment holding company, which through its subsidiaries, engaged in the operation of gaming and entertainment facilities in Macau, such as casinos, resorts, and hotels; Through its subsidiaries, the company is also involved in the the manufacture, sale and distribution of construction materials
Subsidiary
AHK AGGREGATES LIMITED
Advisor
PRICEWATERHOUSECOOPERS
IPO date
10/7/1991
US SIC Code
7993
Company Address
Hutchison House, 16th Floor, Suite 1606
10, Harcourt Road
City province or state postal code
CENTRAL
Phone: +852 3150 1111
Fax: +852 3150 1100
Country address: HONG KONG
Website url: www.galaxyentertainment.com