On behalf of the board of Directors of Sino Golf Holdings Limited (the “Company”) and its subsidiaries (collectively the “Group”), I am pleased to present the results of the Group for the year ended 31 March 2002.

RESULTS AND DIVIDEND 

Total turnover and net profit from ordinary activities attributable to shareholders of the Group for the year ended 31 March 2002 amounted to HK$252,492,000 and HK$30,447,000, respectively. Earnings per share was HK$10.10 cents.

The directors recommend a final dividend of HK$10 cents per share, which is subject to the approval by shareholders at the forthcoming annual general meeting.