The Group has acquired a property interests at the southeast side of Ulugan Bay, Puerto Princesa City in Palawan during the year, and it is close to the Puerto Princesa Subterranean River National Park which is one of the “New 7 Wonders of Nature”. The freehold land has a site area of about 71,464 sq. m. and enjoys a sea frontage. The Group intends to develop a sustainable resort complex with hotels and villas, together with its own private beach, swimming pool and abundant diving facilities. The Group is now undergoing detailed study on the development scheme for the site and preparing a master layout plan.