Grand Pryce Plaza Hotel

Statement of Financia
For year ended Decemb

2013
ASSETS
CURRENT ASSETS
Cash and cash equivalents 205,890,655
Receivables-net 322,009,422
Loan Receivable 15,500,000
Due from related parties 1,885,100
Inventories 13,582,447
Prepaid expenses and other current assets 18,482,934
TOTAL CURRENT ASSETS 577,350,558

NONCURRENT ASSETS
Property and equipment-net 647,640,324
Investment in an associate 48,467,138
Deferred tax assets-net 5,571,856
Other noncurrent assets 84,095,791
TOTAL NONCURRENT ASSETS 785,775,109
TOTAL ASSETS 1,363,125,667

LIABILITIES AND EQUITY

CURRENT LIABILITIES
Accounts payable and accrued expenses 77,567,689
Due to related parties 2,115,421
Income tax payable
Other current liabilities 227,186,550
TOTAL CURRENT LIABILITIES 306,869,660

NONCURRENT LIABILITIES
Refundable deposits 29,120,790
Accrued retirement benefits liability 21,914,777
TOTAL NONCURRENT LIABILITIES 51,035,567
TOTAL LIABILITIES 357,905,227

EQUITY
Capital Stock 873,182,700
Additional paid-in capital 14,657,517
Remeasurement gains on defined benefit plan 6,085,245
Retained Earnings:
Appropriated 1,630,777,870
Unappropriated 111,294,978
Treasury stock (1,630,777,870)
TOTAL EQUITY 1,005,220,440
TOTAL LIABILITIES AND EQUITY 1,363,125,667
Grand Pryce Plaza Hotel Corporation
Statement of Financial Position
For year ended December 31, 2013

2012 2,011 HORIZONTAL

Amount

282,627,393 354,346,636 (76,736,738)

304,042,397 289,457,654 17,967,025
15,500,000 15,500,000 -
2,128,022 3,104,245 (242,922)
14,560,701 12,590,052 (978,254)
14,671,313 13,556,076 3,811,621
633,529,826 688,554,663 (56,179,268)

670,837,987 696,497,186 (23,197,663)

47,856,099 47,400,841 611,039
8,929,599 8,686,548 (3,357,743)
84,095,791 84,095,791 -
811,719,476 836,680,366 (25,944,367)
1,445,249,302 1,525,235,029 (82,123,635)

81,778,891 83,754,423 (4,211,202)

6,843,486 19,329,331 (4,728,065)
24,731,884 19,901,903 (24,731,884)
224,095,289 215,947,873 3,091,261
337,449,550 338,933,530 (30,579,890)

31,231,875 27,665,055 (2,111,085)

23,428,474 26,077,462 (1,513,697)
54,660,349 53,732,517 (3,624,782)
392,109,899 392,666,047 (34,204,672)

873,182,700 873,182,700 -
14,657,517 14,657,517 -
7,114,234 3,257,477 (1,028,989)

1,488,311,220 1,369,513,270 142,466,650

168,184,952 241,471,288 (56,889,974)
(1,488,311,220) (1,369,513,270) (142,466,650)
1,063,139,403 1,132,568,982 (57,918,963)
1,455,249,302 1,525,235,029 (92,123,635)
HORIZONTAL VERTICAL
Percent 2013 2012

-27.15% 15.10% 19.56%

5.91% 23.62% 21.04%
0.00% 1.14% 1.07%
-11.42% 0.14% 0.15%
-6.72% 1.00% 1.02%
25.98% 1.36% 1.02%
-8.87% 42.35% 43.84%

-3.46% 47.51% 46.42%

1.28% 3.56% 3.31%
-37.60% 0.41% 0.62%
0.00% 6.17% 5.82%
-3.20% 57.65% 56.16%
-5.68% 100.00% 100.00%

-5.15% 5.69% 5.62%

-69.09% 0.16% 0.47%
-100.00% 1.70%
1.38% 16.67% 15.40%
-9.06% 22.51% 23.19%

-6.76% 2.14% 2.15%

-6.46% 1.61% 1.61%
-6.63% 3.74% 3.76%
-8.72% 26.26% 26.94%

0.00% 64.06% 60.00%

0.00% 1.08% 1.01%
-14.46% 0.45% 0.49%

9.57% 119.64% 102.27%

-33.83% 8.16% 11.56%
9.57% -119.64% -102.27%
-5.45% 73.74% 73.06%
-6.33% 100.00% 100.00%
 TREND ANALYSIS
2011 2012 2013

100 79.7601456558 58.1043063719

100 105.0386447891 111.2457789767
100 100 100
100 68.5519989563 60.7265212636
100 115.6524293943 107.8823741157
100 108.2268423399 136.3442783885
100 92.0086465234 83.8496330102

100 96.3159651588 92.9853468209

100 100.9604428748 102.2495318174
100 102.7980159668 64.1435009626
100 100 100
100 97.0166755413 93.9158059555
100 94.7558425109 89.3715159357

100 97.6412803895 92.6132450342

100 35.4046707566 10.9440983757
100 124.2689405129 0
100 103.7728623518 105.2043471621
100 99.5621619378 90.539776339

100 112.8928715305 105.2619992984

100 89.8418488732 84.0372310772
100 101.7267607248 94.9807860294
100 99.8583661602 91.147485181

100 100 100

100 100 100
100 218.397060056 186.8085331071

100 108.6744650528 119.0771864518

100 69.6500827875 46.0903567135
100 108.6744650528 119.0771864518
100 93.8697262504 88.7557805287
100 95.4114791708 89.3715159357
 Grand Pryce Plaza Hotel Corporation
Statement of Comprehensive Income
For year ended December 31, 2013

2013 2012

SALES 582,653,727 687,318,725

Rooms 336,688,055 353,134,536
Food and beverages 158,290,397 183,057,051
Other operating departments 6,665,324 9,233,265
Others 81,009,951 141,893,873

COST OF GOODS SOLD 59,749,969 65,134,923

Food and beverages 56,283,435 60,673,470
Other operating departments 3,466,534 4,461,453
Total Revenue 642,403,696 752,453,648
Gross Margin 522,903,758 622,183,802

Selling Expense 214,534,010 218,024,030

Administrative Expense 199,528,308 181,334,125
Operating Expense 414,062,318 399,358,155
NET OPERATING INCOME 108,841,440 222,825,647

Other Income Expense 14,939,379 11,112,549

Interest income 7,125,401 9,567,316
Foreign exchange gain(loss) 7,126,239 1,504,399
Equity in net income of an associate 611,039 455,258
Others 76,700 (414,424)

Income before income tax 123,780,819 233,938,196

Income tax Expense 38,204,143 68,571,560
NET INCOME 85,576,676 165,366,636
Basic and Diluted Earnings Per Share 2 3
rand Pryce Plaza Hotel Corporation
atement of Comprehensive Income
or year ended December 31, 2013
HORIZONTAL VERTICAL
2,011 Amount Percent 2013

718,828,109 (104,664,998) -15.23% 90.70%

367.797,598 (16,446,481) -4.66% 52.41%
203,305,340 (24,766,654) -13.53% 24.64%
10,827,511 (2,567,941) -27.81% 1.04%
136,897,660 (60,883,922) -42.91% 40.60%

65,788,426 (5,384,954) -8.27% 9.30%

61,942,665 (4,390,035) -7.24% 8.76%
3,845,761 (994,919) -22.30% 0.54%
784,616,535 (110,049,952) -14.63% 100.00%
653,039,683 (99,280,044) -15.96% 81.40%

213,676,025 (3,490,020) -1.60% 33.40%

196,887,450 18,194,183 10.03% 31.06%
410,563,475 14,704,163 3.68% 64.46%
242,476,208 (113,984,207) -51.15% 16.94%

7,548,146 3,826,830 34.44% 2.33%

9,114,225 (2,441,915) -25.52% 1.11%
(2,087,781) 5,621,840 373.69% 1.11%
307,867 155,781 34.22% 0.10%
213,835 491,124 -118.51% 0.01%

250,024,354 (110,157,377) -47.09% 19.27%

73,960,628 (30,367,417) -44.29% 5.95%
176,063,726 (79,789,960) -48.25% 13.32%
3 (1) -41.83%
VERTICAL TREND ANALYSIS
2012 2011 2012 2013

91.34% 100 95.6165620674 81.06

46.93% 100 96013.2795647023 91,541.67
24.33% 100 90.04045393 77.86
1.23% 100 85.2759697035 61.56
18.86% 100 103.6495970786 59.18

8.66% 100 99.0066596213 90.82

8.06% 100 97.9510164763 90.86
0.59% 100 116.0096272233 90.14
100.00% 100 95.9008145297 81.87
82.69% 100 95.2750373671 80.07

28.98% 100 102.0348586136 100.40

24.10% 100 92.1003979685 101.34
53.07% 100 97.2707460156 100.85
29.61% 100 91.8958807703 44.89

1.48% 100 147.2222317904 197.92

1.27% 100 104.971250984 78.18
0.20% 100 -72.0573182724 - 341.33
0.06% 100 147.8748940289 198.47
-0.06% 100 -193.8055042439 35.87

31.09% 100 93.5661635586 49.51

9.11% 100 92.7135989164 51.65
21.98% 100 93.9243078384 48.61
 Travellers International Hotel Group Inc
Statement of Financial Positio
For the year ended December.31,

2013
ASSETS
Current Assets
Cash and cash equivalents 25,775,504,641.00
Trade and other receivables 3,043,280,454.00
Advances to related parties 160,722,254.00
Invetories 207,242,030.00
Prepayments and other curret assets 284,945,836.00
Total Current Assets 29,471,695,215.00

Noncurrent Assets
Available-for-sale financial assets 49,880,000.00
Investments in associates 156,250,000.00
Property and equipment-net 29,200,648,007.00
Investments property-net 1,670,869,491.00
Deferred tax assets 12,437,366.00
Other noncurrent assets 663,955,473.00
Total noncurrent Assets 31,754,040,337.00
Total Assets 61,225,735,552.00

LIABILITIES AND EQUITY

Current Liabilities
Investment-bearing loans and borrowings 1,603,268,951.00
Trade and other payables 7,312,519,510.00
Advances from related parties 161,969,303.00
Dividends payable 1,299,210,000.00
Income tax payable 5,769,875.00
Total Current Liablities 10,382,737,639.00

Noncurrent Liabilities
Investment-bearing loans and borrowings 2,968,477,555.00
Notes payable 13,095,218,012.00
Derivative liability 1,145,961,938.00
Retirement benefit obligation 83,677,770.00
Other noncurrent liabilities 121,818,390.00
Total noncurrent Liabilities 17,415,153,665.00
Total Liabilities 27,797,891,304.00

Equity
Equity attributable to parent company
Capital stock 10,000,000,000.00
 Additional paid-in capital 22,417,157,066.00
Treasurey shares, at cost (8,324,412,515.00)
Revaluation reserves 46,604,602.00
Retained earnings 9,288,495,095.00
Total equity attributable to shareholders of the parent company 33,427,844,248.00
Total Equity 33,427,844,248.00
Total Liabilities and Equity 61,225,735,552.00
Travellers International Hotel Group Incorporation
Statement of Financial Position
For the year ended December.31, 2013
HORIZONTAL
2012 2011 Amount Percent

16,913,702,429.00 18,307,686,647 8,861,802,212.00 52.39%

2,414,802,453.00 1,862,385,367 628,478,001.00 26.03%
188,973,466.00 127,244,189 (28,251,212.00) -14.95%
145,565,733.00 123,373,203 61,676,297.00 42.37%
256,675,729.00 198,506,627 28,270,107.00 11.01%
19,919,719,810.00 20,619,196,033 9,551,975,405.00 47.95%

40,570,000.00 27,470,000 9,310,000.00 22.95%

156,250,000.00 156,250,000 - 0.00%
25,806,488,191.00 22,797,030,820 3,394,159,816.00 13.15%
1,393,990,450.00 1,446,111,040 276,879,041.00 19.86%
15,304,729.00 10,927,287 (2,867,363.00) -18.74%
632,458,075.00 538,393,863 31,497,398.00 4.98%
28,045,061,445.00 24,976,183,010 3,708,978,892.00 13.23%
47,964,781,255.00 45,595,379,043 13,260,954,297.00 27.65%

2,631,814,400.00 2,702,968,427 (1,028,545,449.00) -39.08%

5,430,304,557.00 5,291,107,260 1,882,214,953.00 34.66%
- 161,969,303.00
21,552,014.00 3,953,322 1,277,657,986.00 5928.25%
8,040,450.00 6,596,788 (2,270,575.00) -28.24%
8,091,711,421.00 8,004,615,797 2,291,026,218.00 28.31%

4,524,481,108.00 4,636,629,523 (1,556,003,553.00) -34.39%

12,098,888,653.00 12,848,121,514 996,329,359.00 8.23%
1,246,123,668.00 1,163,772,181 (100,161,730.00) -8.04%
102,951,396.00 77,294,177 (19,273,626.00) -18.72%
665,820,307.00 90,647,284 (544,001,917.00) -81.70%
18,638,265,132.00 18,816,464,679 (1,223,111,467.00) -6.56%
26,729,976,553.00 26,821,080,476 1,067,914,751.00 4.00%

10,000,000,000.00 10,000,000,000 - 0.00%

 5,821,627,500.00 5,821,627,500 16,595,529,566.00 285.07%
(8,584,100,000.00) 4,300,000,000 259,687,485.00 -3.03%
10,388,665.00 -2,001,335 36,215,937.00 348.61%
13,988,888,602.00 7,254,672,402 (4,700,393,507.00) -33.60%
21,236,804,767.00 18,774,298,567 12,191,039,481.00 57.41%
21,236,804,767.00 18,774,298,567 12,191,039,481.00 57.41%
47,966,781,320.00 45,595,379,043 13,258,954,232.00 27.64%
 VERTICAL HORIZONTAL ANALYSIS
2013 2012 2011 2012

42.10% 35.26% 100 92.39

4.97% 5.03% 100 129.66
0.26% 0.39% 100 148.51
0.34% 0.30% 100 117.99
0.47% 0.54% 100 129.30
48.14% 41.53% 100 96.61

0.08% 0.08% 100 147.69

0.26% 0.33% 100 100.00
47.69% 53.80% 100 113.20
2.73% 2.91% 100 96.40
0.02% 0.03% 100 140.06
1.08% 1.32% 100 117.47
51.86% 58.47% 100 112.29
100.00% 100.00% 100 105.20

2.62% -7.76% 100 97.37

11.94% 14.20% 100 102.63
0.26% 1.22% 100
2.12% 9.64% 100 545.16
0.01% -0.02% 100 121.88
16.96% 17.28% 100 101.09

4.85% -11.74% 100 -

21.39% 7.51% 100 94.17
1.87% -0.76% 100 107.08
0.14% -0.15% 100 133.19
0.20% -4.10% 100 734.52
28.44% -9.22% 100 99.05
45.40% 8.05% 100 99.66

16.33% 0.00% 100 100.00

 36.61% 125.16% 100 100.00
-13.60% 1.96% 100 (199.63)
0.08% 0.27% 100 (519.09)
15.17% -35.45% 100 192.83
54.60% 91.95% 100 113.12
54.60% 91.95% 100 113.12
100.00% 100.00% 100 105.20
L ANALYSIS
2013

140.79
163.41
126.31
167.98
143.54
142.93

181.58
100.00
128.09
115.54
113.82
123.32
127.14
134.28

59.32
138.20

32,863.75
87.46
129.71

64.02
101.92
98.47
108.26
134.39
92.55
103.64

100.00
 385.07
(193.59)
(2,328.68)
128.03
178.05
178.05
134.28
 Travellers International Hotel Group Incorpor
Statement of Financial Position
For the year ended December.31, 2013

2013 2012
Net Revenues
Gaming 30,003,598,507.00 28,058,258,093.00
Non-gaming 2,502,498,641.00 2,138,225,200.00
Hotel, food, beverage and others 875,560,158.00 880,710,104.00
Other operating income 33,381,657,306.00 31,077,193,397.00
Less promotional allowance 2,533,628,373.00 1,687,446,005.00
Sales 30,848,028,933.00 29,389,747,392.00

Direct Costs 12,107,719,504.00 10,111,138,294.00

Gross Profit 18,740,309,429.00 19,278,609,098.00
General and Administrative Expenses 14,123,148,656.00 11,818,861,493.00
Operating Profit 4,617,160,773.00 7,459,747,605.00

Other Income (Charges) (1,810,979,094.00) (657,377,318.00)

Finance cost (20,367,974,564.00) (1,430,118,362.00)
Finance income 225,815,470.00 772,741,044.00
Share in net loss of an associate

Profit before tax 2,806,181,679.00 6,802,370,287.00

Tax expenses 66,665,186.00 68,370,287.00
Net Profit 2,739,516,493.00 6,734,216,200.00
nternational Hotel Group Incorporation
tatement of Financial Position
he year ended December.31, 2013
HORIZONTAL VERTICAL
2011 Amount Percent 2013

25,427,754,672 1,945,340,414.00 6.93% 97.26%

1,908,907,525 364,273,441.00 17.04% 8.11%
745,548,914 (5,149,946.00) -0.58% 2.84%
28,082,211,111 2,304,463,909.00 7.42% 108.21%
1,407,390,806 846,182,368.00 50.15% 8.21%
26,674,820,305 1,458,281,541.00 4.96% 100.00%

9,664,618,548 1,996,581,210.00 19.75% 39.25%

17,010,201,757 (538,299,669.00) -2.79% 60.75%
9,807,179,846 2,304,287,163.00 19.50% 45.78%
7,203,021,911 (2,842,586,832.00) -38.11% 14.97%

-2,281,084,001 (1,153,601,776.00) 175.49% -5.87%

-2,830,424,091 (18,937,856,202.00) 1324.22% -66.03%
549,340,090 (546,925,574.00) -70.78% 0.73%

4,921,937,910 (3,996,188,608.00) -58.75% 9.10%

97,694,553 (1,705,101.00) -2.49% 0.22%
4,824,243,357 (3,994,699,707.00) -59.32% 8.88%
VERTICAL HORIZONTAL ANALYSIS
2012 2011 2012 2013

95.47% 100 110.35 118.00

7.28% 100 112.01 131.10
3.00% 100 118.13 117.44
105.74% 100 110.67 118.87
5.74% 100 119.90 180.02
100.00% 100 110.18 115.64

34.40% 100 104.62 125.28

65.60% 100 113.34 110.17
40.21% 100 120.51 144.01
25.38% 100 103.56 64.10

-2.24% 100 28.82 79.39

-4.87% 100 50.53 719.61
2.63% 100 140.67 41.11

23.15% 100 138.21 57.01

0.23% 100 69.98 68.24
22.91% 100 139.59 56.79