Page 21 -

Report of the Directors

BANK LOANS AND OTHER BORROWINGS

An analysis of the Group’s bank borrowings and trust receipt loans at 31st March 2016 and 2015 is set out
below:

Trust receipt loans Bank borrowings
2016 2015 2016 2015
HK$’000 HK$’000 HK$’000 HK$’000

Within one year – 1,654 9,700 50,000
In the second to fifth year – – 223,100 –

– 1,654 232,800 50,000

PRINCIPAL SUBSIDIARIES

Details of the Company’s principal subsidiaries at 31st March 2016 are set out in Note 18 to the consolidated
financial statements.

RETIREMENT BENEFIT SCHEMES

Details of the Group’s retirement benefit schemes are set out in Note 8 to the consolidated financial
statements.

Directors

The directors during the year and up to the date of this report were:

Mr LEUNG Kai Ching, Kimen
Mr LEUNG Wai Sing, Wilson
Mr KUOK Kun Man
Mr LEUNG, Jimmy
Mr LIU Lup Man
Mr LI Wah Ming, S.B.S., J.P. 1
Mr LAU Wang Yip, Derrick (resigned on 17th March 2016) 1
Mr LEE Tak Chi 1
Mr CHEUNG, Johnson (appointed on 6th April 2016) 1

1 Independent non-executive directors

In accordance with clauses 87(1) and 86(2) of the Company’s Bye-laws, Mr LI Wah Ming and Mr CHEUNG,
Johnson will retire respectively at the forthcoming annual general meeting and, being eligible, will offer
themselves for re-election.

ALCO HOLDINGS LIMITED ANNUAL REPORT 2016 19