Major Shareholder:

• Mr. Mr. Li Tat Ting ¡V 50.03% interest
• Cash smart ¡V11.0 % interest

Company Subsidiaries:

• Rico BVI (100%): Engaged in the investment holdings and underwriting of admission tickets for overbears visitors
• The Joint Venture (100%): Engaged in the operation of SammyLand

The Group is principally engaged in the operation of a theme park in Panyu under the name SammyLand.

SammyLand is an open-space theme park in Panyu located on two adjacent pieces of land with a total area of approximately 397,948 sq.m., with mechanical rides, theme exhibits and carnival games. The amusement facility of SammyLand can be classified into six major categories: namely (i) water activities; (ii) mechanical rides; (iii) indoor games and rides; (iv) variety shows and performances; (v) kiddie land; and (vi) leisure and recreation facilities.

The strategic location of SammyLand enables it to benefit from the continuing economic growth of the southern region of the PRC. In 1997, SammyLand (then known as Fantasy Film City) ranked seventh among 72 tourist attractions in Guangzhou in terms of operating income according to the report issued by the Guangzhou Statistics Bureau.

In 2000, SammyLand was among the top ten tourist attractions in Guangzhou in terms of operating income according to the report issued by the Guangzhou Statistics Bureau. In addition, The People Government of Nan Cun Town, Panyu District, nominated SammyLand, together with 13 tourist attractions in Panyu, as ¡§Panyu Tourist Attractions¡¨.

The Directors believe that the Group has the following competitive advantages:

• the Group's dedicated management team, which includes Mr. Li who has over 20 years experience and expertise in the operation of theme parks and amusement parks in Hong Kong, the PRC and the Philippines;
• the extensive network of the management of the Group in the entertainment industry which helps to attract visitors to SammyLand by inviting popular artistes to perform at the various entertainment show to be stage in SammyLand;
• the widely accepted image of Mr. Tsang, the deputy chairman of the Company, as a professional entertainer and comedian, helps to enhance the image of the Group as an operator SammyLand and those amusement parks with which the Group will form an alliance to form the ¡§Dreamland in Reality¡¨
• the strategic location of SammyLand which enables it to attract tourists from the Guandong Province, Hong Kong and Macau and benefits from te continuing economic growth in the southern region of the PRC; and
• the Group's ability to attract enter into a distribution agreement with UEG, a theme exhibit specialists in Europe, for distribution and operation of UEG's theme enable in the PRC on favorable terms;

• The operation of SammyLand is presently the sole source of income of the Group;
• Land use rights;
• Risk relating to the Group's interest in the Joint Venture;
• Risks relating to the transfer pricing policy adopted by the Group;
• Risks relating to the Group's business strategies;
• Reliance on the major agents for the sale of admission tickets to SammyLand.

The continued rapid economic growth, strong demand for recreational activities in the PRC, the growth in tourism in the PRC, and the 2008 Olympic Games in Beijing will provide the Group with business opportunities in the tourism industry in the PRC. To capture and capitalize these opportunities, the Company is going to implement a series of plans to increase the attractiveness of SammyLand, and to use SammyLand as the base for the formation of an alliance of amusement parks in the PRC to implement the concept ¡§Dreamland in Reality¡¨.

To broaden the income base of the Group, a souvenir shop for the sale of premium items and branded souvenir items will be set up in SammyLand. To facilitate the operation of the souvenir shop, the Group will set up a purchasing department to source souvenir items, gifts and game prizes. The Group has been in discussion with a major toy manufacturer which is listed on the Stock Exchange for the design and manufacture of toys and premium items under the Group's brand name for sale in SammyLand and other amusement parks which will for alliance(s) with the Group.

The Group plans to extend the business hours of SammyLand. With the extensive network of the existing management team of the Group in the entertainment industry, the Group plans to organise more night entertainment shows featuring well-knows artistes during weekends, public holiday, festivals and special events. The Directors believe that these entertainment shows will enhance the attractiveness of SammyLand as a theme park and generate additional revenue to the Group.

To further expand and compliment its current business portfolio, the Group plans to organise birthday parties, festive gatherings and celebrations. Under the PRC's ¡§One Child¡¨ policy, parents in the PRC are devoting more and more of there time, care, and resources to their only child. Birthday parties and other types of parties for their children are expected to become a trend among this target group.

The net proceeds from the Placing, after deducting the related expenses, are estimated to amount to approximately HK$2460 million (based on the offer price HK$0.34 per share). The Group at present intends to apply the net proceeds as follows: