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Report of the Directors

BANK LOANS AND OTHER BORROWINGS

An analysis of the Group’s bank borrowings at 31st March 2017 and 2016 is set out below:

Bank borrowings
2017 2016
HK$’000 HK$’000

Within one year 116,400 9,700
In the second to fifth year 58,200 223,100
174,600 232,800

PRINCIPAL SUBSIDIARIES

Details of the Company’s principal subsidiaries at 31st March 2017 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 LEE Tak Chi 1
Mr CHEUNG, Johnson (appointed on 6th April 2016) 1

1 Independent non-executive directors

In accordance with clause 87(1) of the Company’s Bye-laws, Mr LEUNG Wai Sing, Wilson, Mr LEUNG,
Jimmy and Mr LIU Lup Man will retire at the forthcoming annual general meeting and, being eligible, will offer
themselves for re-election.

ALCO HOLDINGS LIMITED ANNUAL REPORT 2017 33