China Star Entertainment Limited and its subsidiaries (China Star or the group) is principally engaged in the production and distribution of films and television drama series that are based in Chinese dialect. The group also invests in operations which receive profit streams from the gaming promotion business in one of the VIP gaming room at the Grand Lisboa Casino in Macau. The group also engaged in property and hotel investment which represented by one of its subsidiary, Hotel Lan Kwai Fong, Macau. Hotel Lan Kwai Fong, Macau has been opened on 2 August 2009 and has around 200 rooms with ancillary facilities including, among others, a casino with VIP rooms, a health and clinical spa, different styles restaurants and flower shops.
Achievement in the past:
China Star has previously being a well-established entertainment, multimedia, production and distribution enterprise. In the course of this development, China Star is striving hard to establish excellent reputation as a powerful film producer and international film distributor.
Since 2000, China Star has produced various films, of which most of them earned critical acclaim and scored a resounding success at the box office. In 2000, "Needing You" was the leading local film of the respective year having a box office of approximately HK$35.0 million. In 2001, the four most popular and successful films produced by China Star namely "Wu Yen", "Love On A Diet", "La Brassiere" and Master Q 2001" achieved a total of box office receipts of approximately HK$107.0, million, representing 38% of total box office receipts for top ten Chinese films in Hong Kong. China Star has proven to be the most recognized film producer in Hong Kong. In 2002, "My Left Eye Sees Ghosts", "The Lion Roars", "Mighty Baby" and "Fat Choi Spirit" achieved total box office receipts of approximately HK73 million, make them four of the most successful local Chinese films of that year. In 2003, films produced by China Star won a number of the major awards at the 23rd Hong Kong Film Awards. "Running on Karma" was awarded the Best Film and the Best Screenplay, and Mr. Andy Lau was named the Best Actor with his role in the film. The awards Best Actress and Best Supporting Actress came to Miss Cecilia Cheung and Ms. Josie Ho with their respective performance in "Lost in Time" and "Naked Ambition". "Lost in Time" has also won the award of Best Original Film Score for the outstanding work by Mr. Peter Kam. Mr. Andy Ong, a new artist under China Star was also honored as the Best New Performer. In 2004, Fantasia, the group's Chinese New Year blockbuster, recorded the second highest box office of all local films in 2004. In 2005, a high-quality film "Election" produced by the group received response. Apart form achieving outstanding results in ticketing and distribution, the film had won a number of top awards in the 25th Hong Kong Film Awards, including the Best Film Award, the Best Director's Award, the Best Script Play Award and the Best Actor's Award, fully recognized by the experts in the industry.
Starting from the year 2006, given the difficult market conditions for film industry as a result of piracy, the group had reorganized its business and had started to step in the hotel operation by acquiring its interest in Hotel Lan Kwai Fong (Macau) Limited (formerly known as Kingsway Hotel Limited). After that, the group had invested huge capital in Hotel Lan Kwai Fong (Macau) Limited in renovation the property. Following the grand opening of Hotel Lan Kwai Fong Macau, the group had expanded its business into the hotel operation, management of casino operations, and food and beverage business. The casino will run by licence holder Sociedade de Jogos de Macau, S.A., one of the shareholders in Hotel Lan Kwai Fong Macau.
During the year 2007, the group entered into agreements with Mr Ng Cheuk Fai and Lucky State Group Limited (the "Vendor") to acquire 100% equity interest in Best Mind International, Inc. for a total consideration of HK$1,054.9 million. Best Mind has 100% interest in the 0.4% of the rolling turnover generated by Ocho Sociedade Unipessoal Limitada and/or its customers. Ocho is a junket representative in one of the VIP gaming rooms at the Grand Lisboa Casino in Macau. The vendor had provided profit guarantee of HK$72 million, HK$192 million and HK$120 million for the period from 17 August 2007 to 31 December 2007, the year ended 31 December 2008 and the period from 1 January 2009 to 16 August 2009 respectively. The acquisition was completed in March 2008 and the profit guarantee for the period before 31 December 2008 had been achieved.
updated 24th September, 2009
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