2014 — Page 22

REPORT OF THE DIRECTORS (CONTINUED)

CONNECTED TRANSACTIONS (Continued)

Continuing Connected Transactions (Continued)

Date

2.

15 March 2011

Connected Persons

Heng Lai Construction Company Limited ("Heng Lai"), a wholly-owned subsidiary of HLD

28 October 2014

Heng Lai

3.

15 March 2011

HREAL

11 January 2013

HREAL and HPAL

4.

15 March 2011

Heng Tat Construction Company Limited ("Heng Tat"),

a wholly-owned subsidiary of

HLD

Transactions

The Group entered into the Fanling Prime Cost Contract with Heng Lai for the appointment of Heng Lai as the main contractor of the development of the Fanling Property. The Fanling Prime Cost Contract expired on 31 May 2014.

The Group entered into the Fanling Prime Cost Contract Extension Letter with Heng Lai to extend the period of payment of fees commencing from 1 June 2014 under the Fanling Prime Cost

Contract dated 15 March 2011.

Details of the Fanling Prime Cost Contract and the Fanling Prime Cost Contract Extension Letter were set out in the announcements of the Company dated 15 March 2011 and 28 October 2014 respectively.

The Group entered into the TCS Project Management Agreement with HREAL for the appointment of HREAL as the project manager of the development of 208 Tung Chau Street (formerly known as 204- 214 Tung Chau Street), Sham Shui Po, Kowloon, Hong Kong (the "TCS Property").

The Group entered into the Supplemental TCS Project Management Agreement with HREAL and HPAL to revise the maximum annual aggregate amounts of the TCS Project Management Fee during the term of the TCS Project Management Agreement and to transfer and novate the rights and obligations of HREAL regarding the project sales and marketing services to HPAL.

Details of the TCS Project Management Agreement and the Supplemental TCS Project Management Agreement were set out in the announcements of the Company dated 15 March 2011 and 11 January 2013 respectively.

The Group entered into the TCS Prime Cost Contract with Heng Tat for the appointment of Heng Tat as the main contractor for the development of the TCS Property.

11 January 2013

Heng Tat

The Group entered into the Supplemental TCS Prime Cost Contract with Heng Tat to revise the maximum annual aggregate amounts of the TCS Prime Costs and Fees payable during the term of the TCS

Prime Cost Contract.

Details of the TCS Prime Cost Contract and the Supplemental TCS

Prime Cost Contract were set out in the announcements of the

Company dated 15 March 2011 and 11 January 2013 respectively.

Hong Kong Ferry (Holdings) Company Limited Annual Report 2014