Galaxy Entertainment Group Limited
Galaxy Entertainment Group Limited is an investment holding company. The principal activities of the Company and its subsidiaries are operation in casino games of chance or games of other forms, provision of hospitality and related services in Macau, and the manufacture, sale and distribution of construction materials in Hong Kong, Macau and Mainland China. It operates in two segments: gaming and entertainment, and construction materials. On February 18, 2009, Spring High Limited (Spring High) and K. Wah Construction Materials (Hong Kong) Limited (K. Wah Construction) (both wholly owned subsidiaries of the Company) entered into a sale and purchase agreement with Pioneer Quarries (Hong Kong) Limited (Pioneer) and Alliance Construction Materials Limited (Alliance) for the sale by Spring High of 50% interest in Boom Victory Investments Limited (Boom Victory). The sale was completed on February 18, 2009.
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Asian stocks markets were mostly higher on Wednesday. The Japanese market was buoyed by the positive machinery orders data, and the U.S. dollar dropped sharply against the yen after the data. World Bank President Robert Zoellick said on a conference in Singapore today that the US dollar's role as a reserve currency is intact, but the Chinese yuan could provide an alternative in the next 10-15 years.
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