| The Directors recommended the payment of a final dividend of HK0.08 cent per share for the financial year ended 31 March 2010 (2009: Nil), subject to the approval by the shareholders of the Company at the forthcoming Annual General Meeting.
2010 was a remarkable year for the Group. Apart from strengthening and turning around our printing business, we also extended our scope to include music and entertainment businesses. On 16 June 2009, the Group acquired the music and entertainment business at a consideration of HK$65 million. This new business arm is engaged in music and entertainment related productions and services include artistes management, production and/or distribution of music albums, etc.
Upon completion of the acquisition, we commenced our groundwork on the new business in no time. With the initial nine months of operations, we are glad to see the new business has entered its seeding stage and we are confident to move on with foreseeable returns coming ahead.
To precisely reflect our dedication on the new horizon, the Company changed its name to Neway Group Holdings Limited (formerly known as Chung Tai Printing Holdings Limited) on 23 July 2009. Leveraging on the well-known “Neway” brand in the music and entertainment market, we believe our insightful corporate moves will bring the Group to the new height in the near future.
Looking forward, we will keep our eyes on China market, the rising printing demand in China is going to gradually broaden our customer base with increasing recurrent income in the long run. Backed by the solidified printing business with steady and strong flow of financial resources, the Group gets set to accelerate its full engine on the music and entertainment businesses. TV series and movies are going to be launched nationwide in the short run, while at the same time the Group will put possible efforts to advance its artistes' portfolio to extensively enhance our number of growth engines.
Our ultimate goals are to strengthen our printing arm as well as to development the Group into one of the leading music and entertainment giants in the country. Committed to the two-prong growth strategy, we are confident to deliver fruitful returns to our shareholders.
Lastly, I would like to express my deepest thanks to our talented and hardworking employees for their contributions to our company. Their creativity, professionalism and dedication make all the difference in driving our success. We will continue to work hard to justify and reward your faith in us.
SUEK Ka Lun, Ernie
Chairman
Hong Kong
2 July 2010 |
