MESSAGE FROM THE EDITOR

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CONTENTS

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Tel (852) 2131 0600 Fax (852) 2131 0611

�� E-mail nwshnews@nwsh.com.hk

�� Website www.nwsh.com.hk

�� ! Editorial Board

�� �� ! Maria Cheung (Editor)

�� C F Kwan

�� Chris N Lam

�� Elina Lam

�� Shelley Lo

�� Tony Wong

�� �� ! Emily Chan (Reporter)

�� �� ! Shirlina Lee (Reporter)

�� �� ! Carol Ho (Reporter)

�� �� ! Sophia Wong (Reporter)

2 �� ! Message from the Editor

3 �� ! Cover Story

6 �� ! Service Highlights

7 �� ! Behind the Scenes

8 �� ! In His / Her Words

9 �� ! The “Apprentice” Diary

10 �� ! NWSH Scope

13 �� ! Achievements

14 �� ! Volunteering Bulletin16

16 �� ! Quiz

�� !"#�� !"#$%&'()*+,-./0&12345678(New Voice is published by NWS Holdings. Reproduction of any contents of thiscorporate newsletter requires proper acknowledgement.

In His/Her Words interviews Rosanna Wong,Secretary - Logistics of NWSS, who shares withus her lifelong sports learning. Let’s follow her tobalance our work and life.

Last but not least, New Voice will meet you in abrand new look in January 2007!

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With Hong Kong’s economic recovery andMainland China’s GDP continuous growth, NWSHoldings yielded another year of steady progressin FY2006 and its annual results were announcedon 9 October 2006. The Group will continuallystr ive for long-term growth and enhanceshareholder value by actively seeking businessopportunities.

The Group’s excellent services are one of thecornerstones of the solid growth. In this issue,we will visit the new landmark in Zhengzhou,ZZICEC, which demonstrates our world-classmanagement skills in Mainland China’s exhibitionindustry. In addition, Care & Services shows usthe scenes behind its meticulous infection controland car ing ser vices. What comes more ,

�� !"#$%& �� !"#!"NWS Holdings Limited NWS Holdings or the Group

�� !"#$%&'( �� !"#$NWS Service Management Limited NWSS

�� !"#$%& �� !"Tate’s Cairn Tunnel Company Limited Tate’s Cairn Tunnel

�� !"#$%�� !�� ! �� !"#Hong Kong Convention and HMLExhibition Centre (Management) Limited

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�� !"#$% �� !Hip Hing Construction Company Limited Hip Hing

�� !"#$%&'()* �� New World First Ferry Services Limited NWFF

�� !"#$%&' �� !"#Urban Property Management Limited UPML

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�� !"#$%& �� !"New World Development Company Limited NWD

�� !"#$%&'( �� !"#$New World China Land Limited NWCL

�� !"#$%& �� !"New World Telecommunications Limited NWT

�� !"#$% �� !"#Zhengzhou International Convention and Exhibition Centre ZZICEC

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COVER STORY 3

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The performance of the two main business divisions of NWS Holdingsduring FY2006 was satisfactory. Our Service & Rental division doubled itsAttributable Operating Profit (“AOP”) over last year while the AOP of ourInfrastructure division also achieved a healthy year-on-year growth of 11%.

Profit attributable to shareholders decreased by 43% to HK$1.657 billion. Thisdrop was solely attributable to the exceptional gain of HK$1.777 billion theGroup made as a result of its disposals of Container Terminal No.3 andContainer Terminal No.8 West in Hong Kong during FY2005. Excluding thisgain, the Group actually recorded an increase of 49% in net profit, and AOPincreased by 37% to HK$1.938 billion.

The final dividend for the year ended 30 June 2006 is HK$0.20 per share.Together with the interim dividend of HK$0.24 per share, total dividend forthe year will be HK$0.44 per share. The dividend payout ratio is 51%.

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�� 12,543.9 10,286.1 +22%Turnover

�� !"#$%& 1,656.6 2,886.1 -43%Profit attributable toshareholders of the Company

�� 25,587.6 25,165.5 +2%Total assets

�� ! � �� HK$0.89 HK$1.60 -44%Earnings per share - Basic

�� !!" HK$0.44 HK$0.80 -45%Total dividend per share

�� 1,981 2,334 -15%Net debt

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COVER STORY

EnergyPerformance of the Group’s Energy segmentremained stable in FY2006. Aggregate salesrevenue of Zhujiang Power Plants for the yeargrew by 5%, while combined electricity salesincreased by 1%. An 11% increase in electricitysales meant the overall performance of MacauPower was sat is factor y. The company’scontribution to the Group’s profit remained stablegiven the terms governed by the profit controlscheme.

In Mainland China, the second round of the “coal-tariff adjustment” mechanism was made effectivein July 2006, which will minimize the impact ofcoal price increases and thus improve profitmargin. In Macau, rising oil-fuel prices have putpressure on self-production and the Macau SARGovernment has ceased to expand localgenerating capacity. As a result, Macau Power willcontinue to import electricity from the SouthernGrid in Mainland China.

RoadsThe Group’s Roads segment performedremarkably well in FY2006. Projects withinthe Pear l River Delta region all achievedoutstanding performance levels. Averagedaily traffic flow on Guangzhou City NorthernRing Road and Beijing-Zhuhai Expressway(Guangzhou-Zhuhai Section) and combinedaverage daily traffic flows along Shenzhen-

Huizhou Roadwayand Expresswayrecorded double-

digit growth. Moreover, Beijing-Zhuhai Expressway(Guangzhou-Zhuhai Nor thern Sect ion)commenced operations in December 2005.

It is expected the Group’s road projects inthe Pearl River Delta will continue to benefitfrom the strong economic growth in theregion. In October 2005, China’s Ministry ofCommunications published a plan to expandMainland China’s existing road network to85,000 km, which will involve the construction ofan additional 20,000 km of expressways by 2010.As one of the major investors in the Pearl RiverDelta’s road network, the Group is ideally placedto develop opportunities in other high-growthregions in Mainland China.

WaterThe performance of the Group’s water projectsin Mainland China was satisfactory. ChongqingWater Plant achieved a respectable growth of 12%in water sales revenue and also a substantialincrease in income derived from water connectionworks. Average daily water sales volumes at MacauWater Plant achieved a year-on-year increase of6% over FY2005. This result was negativelyimpacted by an average increase of 16% in rawwater tariffs and an increase in operating costsdue to seasonal salinity problem in early 2006.Besides, the Group’s new water treatment andwastewater treatment plants at ShanghaiChemical Industry Park commenced operationsin early 2005, while the Group’s hazardous wasteincinerator project became operational in August2006.

The Eleventh Five-Year Plan has reiteratedMainland China’s need to further enhance theefficiency and price structure for its waterresources. Leveraging its joint-venture partnershipwith Suez, the Group will continue to scrutinizeprojects in this area. In early 2006, we enteredinto a joint venture arrangement with ChongqingWater Holding (Group) Co. Ltd to explore waterprojects in the Chongqing region.

PortsThe performance of Xiamen New World XiangyuTerminals Company Limited was outstanding witha 16% throughput growth to 736,000 TEUs inFY2006. In November 2005, the Group acquiredan 18% interest in Tianjin Five ContinentsInternational Container Terminal CompanyLimited that has been in operation. In FY2006,Tianjin Orient Container Terminals Co., Ltd. hasachieved a throughput growth of 5%. However,due to the closure of this terminal’s coal berth inMarch 2005, its contribution decreased 26% fromFY2005.

As the growth of Tianjin port is restrained by thelimited handling capacity of its terminals, the Tianjinpor t is accelerat ing container terminaldevelopments in its North Basin and Man-madeIsland. Under Mainland China’s Eleventh Five-YearPlan, Xiamen port will further expand its overallhandling capacity by developing new port zonesin Haicang, Songyu and Liuwudian. Xiamen’sultimate aim is to replace Kaoshiung as the region’skey transshipment hub.

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Facilities RentalHKCEC continued to achieve satisfactory resultsin FY2006 with average occupancy rate rising 5%to achieve a record high of 58%. During the year,HKCEC showcased more than 1,300 eventsserving over 4.9 million guests. ATL LogisticsCentre has also benefited from the ongoingrecovery of the local economy and increasingnumber of visitors from Mainland China. Thecompany recorded a steady profit with averageoccupancy rate reaching 96% in FY2006.

With the respective strengths of HKCEC and ATLLogistics Centre coupled with the continuousgrowth of Hong Kong economy, it is expectedthe Facilities Rental segment will continuouslydeliver stable contributions to the Group’s AOP.

ContractingThe Contracting segment improved significantly,turning a loss during FY2005 into a profit ofHK$163 million in FY2006. Leveraging its provenexpertise in managing mega-sized, high qualityconstruction projects, Hip Hing has securedseveral large-scale hotel and casino contracts inMacau. Having diversified the operations beyondHong Kong to Mainland China and Macau, theperformance of the Group’s Engineeringbusinesses was satisfactory in FY2006. As at 31August 2006, contract-on-hand held by the

Contracting segment reached HK$29 billion, 38%of which was from Macau.

It is expected Macau will continue to be asignificant source of income for this segment forthe foreseeable future given that entertainmentand gaming clients are willing to pay premiumprices for high quality work. The Hong Kong SARGovernment has pledged to bui ld newinfrastructure and to improve public facilities.These steps will also provide ample businessopportunities within this segment.

TransportThe AOP of the Group’s Transpor t segmentincreased by 33% in FY2006. However, thisincrease was mainly due to an impairmentprovision made for certain vessels and investmentin FY2005, which were not required to be madein FY2006. Excluding these impairment provisions,there was a 20% decrease in AOP owing to theAOP drop for the Group’s local bus businessesand the loss from the Group’s local ferr yoperation. Over the past year, the Transpor tsegment has suffered from escalating fuel pricesthat have increased by nearly 30% on average.

The Transpor t segment wil l continue toimplement all possible cost reduction measuresthrough better resources allocation and utilization.

Such steps will help minimize the adverse impactof various cost increases and intensified marketcompetition arising from the proposed mergerof the two railways in Hong Kong. At the sametime, the Group will actively seek businessdevelopment opportunities in Mainland China andoverseas.

OthersThe Group’s Others segment comprises variousservice businesses for which AOP decreased by13% in FY2006. This decrease was largely due tothe closure of certain subsidiary companies andkeen competition within the local market.

Free Duty retailing duty free tobacco and liquorbenefited from the rebound of Hong Kong’stourism industry. With new retail outlets with atotal area of approximately 28,000 sq ft to openat Lok Ma Chau KCRC Station in early 2007, it isexpected Free Duty will continually deliver steadyrevenues for the Group. Tricor Holdings Limitedachieved excellent results with a year-on-yeargrowth of 40%, while Tai Fook Securities GroupLimited and New World Insurance ManagementLimited reported stable results in FY2006. Despitetough mar ket compet i t ions , proper tymanagement business contributed a stable profitto the Group. The Group will continue to explorebusiness opportunities in Mainland China.

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China Rail Container TerminalsThe Group has just signed a joint venture agreement with a subsidiaryof the Ministry of Railways, China Railway Container Transport Corp.Ltd., and other joint venture parties to set up a 50-year joint ventureenterprise which will be named as China United International RailContainers Co., Limited. This joint venture will develop and operatelarge-scale pivotal rail container terminals in 18 major cities in MainlandChina, providing door-to-door inter-modal transportation. This newrail container terminals network will create synergies with NWSHoldings' existing Roads and Ports investments and mark the futuredevelopment of our logistics business.

ConclusionSustainability of GrowthThe Group always strives to look after its shareholders’ interests. To this end, NWS Holdings willmaintain a stable dividend policy. The Group will also uphold its strong financial position andoptimal capital structure in order to fuel its future expansion. Capitalizing on its strengths andhaving established a strong foothold in the region, NWS Holdings will continually seek long-termgrowth in its core businesses in Hong Kong, Mainland China and Macau.

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Capitalizing on its reputation in managing theworld-class HKCEC, NWS Holdings has recentlyentered the Mainland China market by managingand operating ZZICEC via a joint venturecompany by exporting its international expertiseand experience to Mainland China.

Challenges of the newmanagerLocated in Zhengzhou, an important transportationhub in Mainland China, ZZICEC has exhibitionhalls and outdoor exhibition space with a totalarea of more than 100,000 m2. In this well-locatedand spacious facility, the missions of the newmanager are to train up the local team andenhance the services to meet internationalstandards.

Mr Andrew Garcia, General Manager of theZZICEC, said, “Local staff are not familiar withoperating a commercial entity. Event managementand customer service skills need to be sharpenedas well. Therefore, ongoing coaching at differentlevels is required.” Senior executives of HML, whomanage HKCEC, were sent to ZZICEC toformulate policies and procedures for differentdepar tments and give directives on dailyoperations, all following the internationalmanagement standard of HML.

Export of expertiseBesides Mr Garcia, the Housekeeping DeputyManager of HML Mr Dickens Li was seconded toZZICEC to provide guidance to individualdepartments. “For instance, we guide the EventPlanning team in the art of setting up the venuefor various types of functions. We also conductgroup trainings on essential areas such as customerservice and communication skills,” said Mr Li. Astaff meeting was held in June 2006 to introducethe management company. In the followingmonths, they will concentrate on the training ofdepartment heads to familiarize the operation ofan exhibition and convention facility. For generalstaff, a company orientation programme isorganized.

Apart from internal training, the management willalso travel to Europe and North America tointroduce ZZICEC to international exhibitors,riding on the international brand and network ofHKCEC.

Mr Cliff Wallace, Chairman of the joint venturecompany as well as the Managing Director ofHML, said, “The solid experience and strong brandof HKCEC make us confident in building ZZICECas the best exhibition and convention venue incentral Mainland China.”

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About ZZICECOpening in October 2005, ZZICEC is a convention and exhibition complexwith a construction area of 227,600 m2. It consists of two major exhibitionhalls and an outdoor exhibition space with a total area of over 100,000 m2

to cater for different types of events, particularly heavy equipment andlarge machinery shows.

About ZhengzhouZhengzhou, the capital of Henan Province, is a major city in central MainlandChina and an important transportation hub with main national railways andhighways traversing in the city.

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BEHIND THE SCENES

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The SARS (Severe Acute Respiratory Syndrome)outbreak in 2003 aroused the public awarenesson infectious diseases. Controlling the spread ofinfectious disease is especially important to elderlyhomes that bear the responsibility of ensuring aclean and high quality accommodation for elders.In this issue we will take you behind the scenes ofCare & Services.

How to control the spread ofcommunication diseases?There are two Infectious Control Officers in Care& Services’ North Point and Tsuen Wan centresrespectively. Tse Kam Heung (home manager) andLai Wai Ling (nurse) are responsible forcoordinating and monitoring the prevention andcontrol of infectious diseases in the two centres.Besides, Care & Ser vices has joined thesurveillance scheme maintained by the Centre ofHealth Protection (the “Centre”), in which it hasto submit weekly report to the Centre whereasit gets timely information on infectious diseasesin the community.

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How to control outbreaks ofinfectious diseases withinthree weeks?In 2004, the Tsuen Wan Centre of Care & Servicessuffered from the outbreak of NoroviralGastroenteritis with around 20 proven andsuspected cases. It took strict infection controlmeasures to curb the spread of the disease. “It isessential to handle vomits appropriately, andcleaning with a floor mop is not sufficient,” saidTse Kam Heung. “We need to first keep all eldersaway from the contaminated area. Then we usedisposable towels which are soaked with dilutedbleach 1:49 to wipe away all vomits and clean thesurface. We repeat the above steps and leave thefloor to dry. We finally dispose of the towels afterwrapping them in a rubbish bag.” In addition, Care& Services reported the case to the Centre andgot their professional advice. Finally, all illnessesrecovered within three weeks.

Creative method to preventspitting on the floorAs some elders lack personal and environmentalhygiene awareness while some are prone to beforgetful, the patience of nurses is of crucialimpor tance. There was once an elder whosuffered from Alzheimer’s disease and had a habitof spitting on the floor. The nurse prepared a

delicate container with disinfectant liquid insideand asked him to spit there. It worked and theelder does not spit on the floor anymore.

Extraordinary cleaningcompetition and “fruitcentre”In order to encourage room tidiness, Care &Services organizes room-cleaning competitionquarterly. The elders and nurses have to tidy upthe rooms together and the winners will beawarded with a prize. The competition makes thecentre cleaner and proves effective in encouragingthose elders who like collecting sundries to keeptidy. In addition, elders who keep too many fruitsin their rooms can cause hygiene problems. Care& Services has a “fruit centre” to process all fruitscollectively — the nurses will help clean the fruits,peal the skin and cut them into small pieces forthe elders.

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Care & Services is equipped with various infection controlfacilities, such as isolated wards (left), mobilehandwashing trailers (right), etc.

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Chan Kwok Sing, the chef of Care & Services (North Point)(second from right), received a “Certificate of Merit” fromthe Food and Environmental Hygiene Department,recognizing his superior knowledge on food safety.

8 IN HIS / HER WORDS

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Do spor ts attract you or mean anything toyou? To Rosanna Wong, Secretary — Logisticsof NWSS, sport is not only a good habit, butalso a lifelong pursuit.

A contented volleyball starRosanna has pursued various spor ts sincesecondary school. She was a core member involleyball, swimming, running and track andfield teams. Being the captain of the schoolvolleyball team, Rosanna grabbed every minute— no matter it was recess, lunch or afterschool — to practise volleyball with classmates.“I love volleyball,” said Rosanna, “because itbrings me pleasure and contentment. Thedevotion of my teammates delivers team spiritand sense of belonging.” Her school team

par ticipated in different matches inside andouts ide school . “Before each match , Iformulated tactics with my teammates. I alwaysreminded myself to persist and strive for thebest,” shared Rosanna.

Indispensable sports sessionsafter workAfter finishing her education, Rosanna has kepton playing ball games, swimming, doing gymand hiking. “I am used to it. Actually, I will feeluneasy if I fail to do any spor ts for a week,”she smiled and told. Ever y week, Rosannawould join her sport-loving colleagues to playvar ious spor ts including badminton, tabletennis and squash. “Spor ts can make you feelgood about yourself. When you are depressed,you will forget unhappiness after an excitinggame.” Rosanna also actively par ticipated in

the Group’s ballgame competitions, which haveprovided her opportunities to be acquaintedwith colleagues from different departments.

Never ending sportschallengesRosanna is keen on trying new sports that sheregards as challenging. She said, “I have star tedto play golf in recent years and have foundthat it takes time to manoeuvre the basic skills,which could train my endurance. For the samereason, I jo ined the chal lenging 10-kmMarathon.” Rosanna fur ther remarked thatswimming requires continuous practice andchallenges oneself to train one’s persistencewhile seamless team cooperation is the keyof volleyball . After all , Rosanna treasuresdifferent challenges that she regards as valuableexperiences.

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Rosanna (back row, third from left) participatedin the Group’s volleyball competition, herteammates called her “A serving ball machine”.

9THE “APPRENTICE” DIARY

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After the six-month work attachment in theCorporate Office of NWS Holdings, I havestarted my training in HML since the beginningof 2006. My first “mission” at the Food &Beverage Depar tment is to help apply for“HACCP”.

What is HACCP? It stands for Hazard Analysisand Critical Control Point, which aims toreduce the risk of food poisoning by analyzingthe hazards during food production process.Critical control points are thereby identifiedand relevant correct ive and preventivemeasures are then established. At first, I wasmainly responsible for the editing of a FoodSafety Manual. For the HACCP System itself, Iwas a novice. For tunately, under the guidanceand instruction of my managers, colleagues andan external consultant, as well as attributedto my continuous learning, I got to know moreabout the entire system and subsequentlybroadened my scope of involvement. Forinstance, I took the initiative to draft a HACCPtraining proposal for newly-joined staff. I wasglad the management has adopted some ofmy suggestions.

HACCP System involves various departmentsincluding Food & Beverage , Purchasing &Supplies, Stewarding, Building Operations aswel l as Human Resources. Through thepar ticipation of internal departmental audit, Ifur ther understood the distinct roles ofdif ferent depar tments in the system. Inaddition, there were ample opportunities ofcommunicating with other depar tment headsand coordinating with professionals such as theconsultant, chefs and engineers, which haveimproved my interpersonal skills.

Upon the completion of the certification audit,my t r a in ing a t the Food & Bever ageDepar tment came to an end. From handlingdocuments at the beginning to progressivelymastering some preparation and operation

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works for the system, my colleagues evenmade fun of me by cal l ing me “HACCPCommissioner”. It was truly encouraging totake part in such a large-scale project and gainrecognition from different par ties!

Apart from training in HML, the ManagementTrainee Programme gives trainee var iousexposures. In July 2006, each of us prepared abusiness proposal with the topic of “EmployeeRelations and Motivation”. To make the plancreative and feasible, we did a lot of researchand analysis. It did sound like writing a thesisin univer s i ty ! After that , we presentedindividually to the management and had theirfeedback. This invaluable exchange was reallyrewarding. Its challenge was definitely no lessthan HACCP!

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NWSH SCOPE

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“New World Renaissance Hotel” renamed as“Renaissance Kowloon Hotel, Hong Kong”

With effect from 1 July 2006, “New World Renaissance Hotel” in TsimSha Tsui, Kowloon was renamed as “Renaissance Kowloon Hotel, HongKong” and adopted a new logo.

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NWD joined Hong Kong Reading Month 2006

NWD joined Hong Kong Reading Month 2006 co-organized by Hong Kong Publishing Federation and Metro Broadcast CorporationLimited to promote reading. Dr Henry Cheng, Managing Director of NWD, has specially recommended the book Winning writtenby Jack Welch.

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The graduation ceremony of “Modern Apprenticeship 2005”,a programme that NWD co-organized with BreakthroughOrganization and Delia Group of Schools was held on 17 June2006. A total of 23 students completed their training, amongwhich the eight most outstanding students have been employedby NWD and its subsidiaries.

“Modern Apprenticeship”, that was set up in 2004, is aprogramme comprised of scholarship and apprentice trainingfor unemployed youngsters. It aims at equipping them withwork experience and building up their self-confidence. NewWorld Group sponsors all the operating expenses andencourages staff members to attend mentorship training offeredby Breakthrough Organization.

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NWSH Reading Club

NWSH Reading Club has been newly set up to promotereading culture in NWS Holdings and to encourage our staffmembers to become lifelong readers and learners.

NWSH Reading Club invites colleagues, authors and experts toshare their reading experiences regularly. Mr C F Kwan, GeneralManager - Corporate Communication of NWS Holdings sharedthe book Knowledge during the first gathering on 17 July 2006.The second gathering was held on 21 August 2006, in whichMs May Wong, Executive Director of Hans Andersen Club,shared tips on family reading. Hans Andersen Club is apartnering organization of Life Rejuvenation Scheme 2006.

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Corporate Governance & Internal Control —A Step ForwardOn 2 August 2006, NWS Holdings organized a seminar on Internal Control &Corporate Governance for more than 140 management staff of the CorporateOffice and member companies. The seminar was held to echo Hong Kong Exchangesand Clearing Limited’s new corporate rules about enhancing the transparency ofcorporate governance and internal control of the listed companies.

The colleagues of various departments, including Group Audit & Management Services,Risk Management, Company Secretarial and Finance presented in the seminar. Inaddition, Mr Leo Chiu and Mr Andrew Liu, par tners of Leo Chiu & Partners, as wella s Ms C imi Leung , D i rec tor, Sys tems and Process Assur ance o fPricewaterhouseCoopers, were guest speakers of the event. Besides, Mr RichardSun, par tner of PricewaterhouseCoopers; Mr K L Chan, Chief Executive Officerand Mr Y P Tsang and Mr Andrew Wong, Executive Director of the Group alsoattended the seminar.

The audience actively raised their opinions on corporate governance and the Group’sinternal control system checklist during the Q&A session. Since the impact of thenew corporate rules is rather extensive, their feedback will cer tainly be beneficialfor the Group to enhance the relevant process.

PricewaterhouseCoopers appreciated the Group’s effor ts on enhancing corporategovernance. The Group has devised a model to promote corporate governanceand internal control, and the next challenge is how to apply it. It is certain that withdetermination and persistence, we can achieve the goal.

Patrick LamExecutive Director

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Relaxing lunch talks

To let colleagues acquire various knowledge outside their jobs,the Training and Development Department of NWS Holdingshas arranged a series of lunch talks on various topics including:stress management, ways to enhance memory, skin care,volunteer experience sharing by Médecins Sans Frontières(“MSF”), experience sharing by Mr Ng Ming Lam and NeuroLinguistic Programming (“NLP”).

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Being a responsible corporate citizen, NWS Holdings supports the Massage TherapistReferral Service organized by Employees Retraining Board (“ERB”). On 13 July 2006,staff at NWS Holdings’ Corporate Office who just paid a minimal fee could enjoy themassage therapy services on their head, neck and shoulders provided by qualifiedmassage therapy retrainees.

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HML Managing Director appointed as IAAM’sAmbassador to China

Mr Cliff Wallace, Managing Director of HML, has been appointed as anAmbassador to China on the International Steering Committee of theInternational Association of Assembly Managers (“IAAM”) from August2006 to July 2007. Mr Wallace is responsible for coordinating researchand data collection in Mainland China. The IAAM’s International SteeringCommittee assesses the global status, the future and the interests of thepublic assembly industry.

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“40 Years of Quality Real Estate Services Building a Harmonious City”celebration cocktail of Urban Group

Urban Group held its 40th anniversary celebration cocktail at HKCEC on 27 September 2006. It alsoannounced the formation of a Community Service Alliance with Po Leung Kuk to echo with the themeof building a harmonious city.

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New corporate logo for Kiu Lok Group

Kiu Lok Group introduced its new corporate logo and was renamedKLPS on 1 October 2006. The new logo carries a combination ofred and gold. Apart from existing property management, KLPS willwiden its business scope to proper ty sales, proper ty leasing,marketing research, operating service apartment, etc.

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NWSH Volleyball Competition

NWSH Sports & Recreation Committee organized NWSH volleyball competition.The final was held on 21 July 2006, which attracted more than 100 staff andtheir family members. Staff demonstrated team spirit in the exciting games, andNWFB / Citybus won the event. Results can now be retrieved from the Intranetiii.nwsh.com.hk.

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Employment Ordinance and EmployeeCompensation Ordinance Seminar

Further to the distribution of A Practical Guide to Employers Duties underLabour Legislation, the Human Resources Department of NWS Holdingsarranged the “Employment Ordinance and Employee CompensationOrdinance Seminar” on 21 July 2006. Mr Francis Hon, AccreditationManager of Hong Kong Institute of Human Resources Management andMs Rebecca Ma, Assistant Labour Officer of the Labour Department’sEmployees’ Compensation Division were the guest speakers. The aim ofthis seminar was to let human resources colleagues and frontline managersunderstand the details of the ordinances.

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NWSH Singing Contest 2006

To enhance staff cohesion and to let themdemonstrate their performing talents, NWSHSports and Recreation Committee organized theNWSH Singing Contest 2006 — Final at NewWorld Centre on 23 September 2006. Therewere eight contestants in Solo and GroupDivisions respectively. The contestants’ outstandingperformance attracted an audience of nearly 400persons. The atmosphere climaxed when MsJoyce Lee, one of the judges, performed on stage.

Ms Mandy Mak from NWS Holdings and Ms MoFuk Ying and Ms Cheung Mei Yuk from HML wonthe Champion of Solo and Group Divisionsrespectively. The awards were presented by MrWilliam Doo Jr, Executive Director of NWSHoldings. Result details cannow be retrieved from theIntranet iii.nwsh.com.hk.

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Mandy Mak Dick Chan Leo WongNWS Holdings Hip Hing KLPS�

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NWSH Sports and Recreation Committee activities

To boost work-life balance of staff members, NWSH Sports and Recreation Committee(“Committee”) organized an outing in Po Leung Kuk Pak Tam Chung Holiday Camp, SaiKung, on 8 October 2006. Together with colleagues and family members, the staff relaxedand enjoyed various kinds of recreational and sports facilities at the holiday resort.

Besides, the Committeeorganized a Tai Chi Classagain in September 2006,following the first one inMay 2006. The activityreceived an enthusiasticresponse. For details ofnew le i sure c lasses ,please pay attention tofurther announcements.

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MeritsCorporate Communication Department and Training &Development Department (“Fruity style, fruity smiles”)

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NWS Holdings engaged in DressSpecial Day

NWS Holdings’ Corporate Office par ticipated in TheCommunity Chest ’s Dress Special Day held on 29September 2006. All donations raised will be allocated tosocial welfare agencies providing family and child services.Apart from generous donations, different departments haveshowed their creativity and team spirit in the DepartmentalDress Special Competition. With the theme of “Team inBLACK” , the Human Resources Depar tment wasannounced as the winner.

ACHIEVEMENTS

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New World Group companies triumph ininternational annual report awards

In the International ARC Awards, the 2005 annual reports of NWD andNWCL won the Silver award and Gold award respectively in “OverallAnnua l Repor t — Rea l E s t a teDevelopment/Service” category. Besides,NWS Holdings’ annual repor t 2005won the Silver award in Interior Designand an Honor in Cover Design/ Photoin the Conglomerate sector.

The In ternat iona l ARC Awards ,organized by MerComm, Inc. in theUnited States, is widely respected by theindustry peers and attracts thousands ofentries from different companies all overthe world. The judging criteria includedesign, creativity, clarity of written text,and presen ta t ion o f corpor a teinformation and financial data.

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Tanggu Water Plant received recognition

Tanggu Water Plant, the water project of NWS Holdings inTianjin, was awarded the “2005 Advanced Enterprise in WaterSupply” by the Tianjin Construction Bureau in April 2006.

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Tate’s Cairn Tunnel achieved ISO9001certification

Tate’s Cairn Tunnel was awarded ISO9001 certificate by BVQI (HK)Limited on 24 August 2006 for its operations, electrical andmechanical systems.

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NWT and its staff recognized forcustomer relationship excellence

NWT achieved its due industry recognition by winningfour awards at the Customer Relationship ExcellenceAwards 2005 presentation ceremony held on 12 July 2006,including :

• “High Speed Customer Service of the Year”: NWT• Merit Certificate for “Customer Service Team Leader

of the Year (Contact Center)”: Winnie Hung• Merit Certificate for “Customer Service Manager of

the Year (Contact Center)”: K Y Chan• Certificate for “Customer Service Professional of the

Year (Contact Center)”: Nicole Au

Organized by the Asia Pacific Customer Service Consortium, the annual Awards aim to recognize companies,teams and individuals who pursue customer service excellence.

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Urban Group awarded Gold Wastewi$eLogo

Urban Group’s Head Office and four properties under itsmanagement were recently awarded the Gold Wastewi$eLogo by the Environmental Protection Department. The fourproperties are:

• Riviera Gardens in Tsuen Wan• Aldrich Garden in Shau Kei Wan• Rhythm Garden in San Po Kong• Sereno Verde in Yuen Long

KLPS awarded contracts in Mainland China

KLPS acquired numerous leasing and management contracts in Mainland China, including:

• Shunde Coubon International Service Apartments• Shanghai Guoji Lido Gongguan• Changchun Century Hongyuan Plaza• Liaoning Kaixuan Cheng

VOLUNTEERING BULLETIN

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New World Group made Hiu Yin’s dreamcome trueNew World Group was delighted in fulfilling the wish of ChauHiu Yin, a 12-year-old girl, who suffers from a life-threateningcongenital illness. Having received the request from Make-A-Wish Foundation of Hong Kong, New World Group offeredHiu Yin a complimentary buffet dinner for 12 people at CongressRestaurant to enjoy the delicacy and harbour view.

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Fairy Kiddos prepare for theirpublication and dramaperformanceAfter a series of workshops onwriting and drama, members ofFair y Kiddo are preparing topublish their work in a book andperform the drama on stage inthe “Fairy Kiddo Land” to be heldat New World Centre on 16December 2006 (Saturday). Theevent is suitable for all familiesas it wil l also feature gamebooths, performance by Mr Harry Wong and sharing on familyreading by celebrities. Please stay tuned to company news forfree admission tickets.

NWSH Green Kindergarten Network launchedwebsite and TV commercialNWSH Green Kindergar ten Network,jointly organized by NWS Holdingsand Green Power, l aunched i t swebsite www.greenkindergar ten.neton 1 September 2006 as a platform ofenvironmental education resources forkindergar tens in Hong Kong. Besides, a

TV commercia l i s beingbroadcast on bus TVs whenthe new school term starts soas to publicize the importanceof pre-school environmentaleducation.

Besides, the “Waste Reduction” 3-D picture book and Teachers’ Use CD-Rom werepublished in September 2006 and are distributed to kindergar ten members for free.Teachers may use the giant educational book (A3 size) to introduce waste problemsand waste reduction methods to children. The book is presented as a narrative with3-D features to make it fun and interactive.

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Volunteer service for PYNEHpsychiatric wardNWS Volunteer Alliance has resumed its services at thepsychiatric ward of Pamela Youde Nethersole EasternHospital (“PYNEH”) in August 2006. In the first activity,more than 10 volunteers made sandwiches and snackswith the patients, then shared them together. In anotheractivity, they made handicraft with reused materials. Theservices were simple, but our care meant a lot to thepatients.

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New World MSF DayNew World Group supports the life-saving efforts of MedecinsSans Frontières (“MSF”) by designating 13 October 2006 asNew World MSF Day. It called upon staff members to donateone day of their salary to MSF, which is like volunteering forMSF for one day.

MSF is an international medical humanitarian organizationthat provides emergency medical assistance to populationsin danger.

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NWS Holdings and UPML supportHeart-to-Heart SchemeOn 8 July 2006, NWS Volunteer Alliance joined the studentsof Cheung Chau Fisheries Joint Association Public School againto pay a caring visit to anelder ly home in CheungChau. On the same day, thevolunteers of UPML andteachers and students fromMaryknoll Convent Schoolreceived about 100 childrenat a school carnival.

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Caring elderly servicesNWS Volunteer Alliance took par tin a number of elder ly ser vicesorganized by YWCA Ming Yue DistrictElderly Centre in September andOctober 2006. Volunteers visitedsingle elders in Sai Wan Ho andQuarry Bay, cleaned up homes forelderly and provided assistance in theannua l M id -Autumn Fes t i va lcelebration event.

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UPML manages 18 Caring EstatesEighteen housing estates managed by UPML were named Caring Estates bythe Social Welfare Depar tment for their outstanding effor ts in promotingvolunteering among the residents. Chak Yu House of Tin Chak Estate wasnamed Leading Caring Estate.

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Haircutting service for the elderlyVolunteers from NWS Volunteer Alliance went to Po LeungKuk District Elderly Community Centre (Kwun Tong East)and Care & Services (North Point) to do the haircut servicefor 60 elderly.

QUIZ

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Please send your completed answers and personal details (photocopies and faxnot accepted) to NWS Holdings’ Corporate Office or drop it at the designatedcollection box by 23 November 2006, you will have a chance to win one of thefour sets of Palm Island Resort package (including 1 night complimentarystay in a Deluxe Villa Suite, 2 two-day passes and RMB200 Food & Beverage coupon,total amount: about HK$2,450)* sponsored by NWS Holdings.* Only applicable from Mondays to Fridays that are not public holidays

Address : 28/F New World Tower, 18 Queen’s Road Central, Hong Kong

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Reader Survey ResultsTo better understand our readers’ needs, we conducted a survey about New Voicein the last issue. Thank you all for your valuable comments. With your support, wewill do our best to enhance the readability of this publication. A brand new look ofNew Voice will be released in January 2007! The survey results are presented below:

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0 1 2 3 41 ��� Poor 2 ��� Fair 3 �� Good 4 ��� Excellent

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Graph 1 : Overall comments on New Voice�� !"#$%&'()*

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Suggestions about new contents :

• Update readers on upcoming events of the Group• Provide information about latest training programmes• Include letters to the editor or allow readers to submit articles• Recommend neighbouring interesting points of the Corporate Office or SBUs

Thank you once again for your valuable input. For the results of the “MostConstructive Comments” and lucky draw, please refer to p.16 “Quiz”.

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���� !"#$%�� ! Winner for last Reader Survey�� !"#$%&'()Reader who made the most constructive comments

Chan Lung Shan�� !"#$ / UPML�

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Wong Lap Hing �� !"# / NWS Holdings� Lai Siu Ying �� ! / NWFF�Maggie Yan �� ! / NWFF� Lam Tak Fun �� !" / KLPS�

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Congratulations! The reader who has contributed the most constructive comments will receive a HKCEC crystal model sponsored by NWS Holdings. Another four lucky participants will receive a bus modelsponsored by NWFB. Winners will be notified individually.

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