Annual Reports and Related Documents::

Annual Report 2021 Lasseters International Holdings Limited

2021

ANNUAL REPORT

L A S S E T ER S I N T ER N AT I O N A L

H O L D I N GS L I M I T E D (200402223M)

FORWARD

WITH PROGRESS

• Casino • Hotel • Convention Centre • Spa and Wellness • Property Development

This document has been reviewed by the Company's sponsor, Stamford Corporate Services Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "SGX-ST") and the SGX-ST assumes no responsibility for the contents

of this document, including the correctness of any of the statements or opinions made or reports contained in this document. The contact person for the Sponsor is Mr Bernard Lui (Tel: [phone] Email: [e-mail]).

Forward with Progress

TABLE OF

CONTENTS

1

Corporate Values

2

Corporate Social Responsibility

4

Corporate Profile

6

Business Model

7

Corporate Information

8

Board of Directors

10

Key Management

12

Notes to Shareholders

14

Financial Highlights

15

Review of Operations

18

Corporate Governance

40

Financial Statements

120

Statistics of Shareholdings

122

Additional Information on Directors Seeking Re-Election and/ or Continued Appointment as Independent Directors

130

Notice of

Annual General Meeting

•

Proxy Form

2

Annual Report 2021 Lasseters International Holdings Limited

CORPORATE

VALUES

Our Mission

Lasseters aims to excel in its performance by enlarging its customer base and broadening its spectrum of businesses through casino development and expansion of the hotels, spa and wellness, and property development businesses. In so doing, it will evolve its business into an integrated resort destination with gaming still forming the core. Lasseters will venture into new markets, form strategic alliances and at the same time leverage on the synergies among its range of businesses.

Casino management and IT applications are envisaged to play a pivotal role in attracting players to Lasseters' gaming segment whilst the strong brand recognition for hospitality and spas, with each brand and product line targeting distinct market segment, is expected to enlarge the customer base of the hotels, convention centre and spa and wellness segments.

People

Lasseters' success in casino and hospitality industries is due in great part to its experienced, hardworking and dedicated staff. It is these professionals and their unrivalled wealth of knowhow and expertise which help to give Lasseters the crucial edge over its competitors and provide its casino and guests with the high standards of service and hospitality that have come to be synonymous with Lasseters' business outfit.

Adherence to Government Regulations and Anti-Money Laundering ("AML")/Counter Terrorism Financing ("CTF")

Lasseters is fully aware of the effects money laundering can have on society and so it whole-heartedly respects its obligation to ensure the legality and security of all its financial transactions. The Company takes all necessary precautions and measures to avoid and prevent any involvement whatsoever with such perfidy in its operations by working closely with experts and national authorities, and by adhering strictly to all relevant legislation. Lasseters' vast experience, strict financial procedures, network of security and financial experts ensure the financial integrity of all its casino operations.

Lasseters Casino in Alice Springs complies with the Gaming Control Act of Northern Territory ("NT") and the NT Code of Practice for Responsible Gambling, and is committed to full compliance with the AML/CTF Act and Rules issued by The Australian Transaction Reports and Analysis Centre (AUSTRAC).

Internal Controls and Risk Management

Lasseters operates in an environment which requires the Company to conform to strict guidelines laid down by NT specific and national legislation. Standard operating procedures for gaming are well documented in internal control manuals which are endorsed by the relevant authorities and Board members from time to time.

Responsible Gaming

Lasseters takes its responsibility to society with utmost seriousness and is committed to providing maximum entertainment with minimum risk to guests. Nonetheless, Lasseters understands the problems gambling can cause for some people. The Company actively promotes responsible gaming and their staff are fully trained to recognise and deal with such issues. Minors are restricted from access to the premises, credit gaming is prohibited and the opportunity to self-exclude from the venue is open to all patrons. Lasseters works closely with Local Community Groups and national authorities to implement appropriate measures and procedures to ensure strict adherence to the prevailing standards on harm minimisation.

Property Development

Lasseters is inspired by its customers and supporters; and strives to build and deliver great value properties to its buyers. Our aim is not just to provide satisfaction to our stakeholders, but also to build and grow our trade name and brand for the long run in the real estate market.

1

Forward with Progress

CORPORATE

SOCIAL RESPONSIBILITY

Improving Lives and

The Business

The Group is dedicated to providing products and services aimed at enhancing the experience of our customers. We believe that it is possible for people to live healthy, fulfilling and inspired lives. It is our mission and commitment to operate in a socially responsible manner and that our products, services and facilities always strive to represent the highest level of quality.

We extend this commitment to all our stakeholders, staff and others within the community whom we work with as well as those who participate in our business.

Our Staff

We have a dedicated and passionate team of employees working together to create opportunities that transform lives and improve the business.

The Group recruits a diverse workforce and promotes Equal Opportunity Employment with a focus on fairness and equality. We actively promote a culture of honest and open communication, teamwork and innovation, and also encourage and support the sharing and development of ideas that contribute to achieving our strategic business objectives.

We believe in rewarding and recognising our team as a way of showing our appreciation for their contributions to the success of the business as well as an encouragement to them in achieving future goals and objectives.

The health and well-being of our employees is of the highest importance, and we are committed to ensuring a safe, fair and healthy working environment. The Group

has an active Workplace Health and Safety Committee that meets regularly to monitor safety policies and procedures, identify hazards and review all incidents and accidents. We also ensure we have adequate numbers of staff who are trained as First Aid Officers and Fire Wardens. In line with our philosophy, we encourage our employees to lead a healthy and active lifestyle, and all staff has access to our classes and facilities.

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Annual Report 2021 Lasseters International Holdings Limited

CORPORATE

SOCIAL RESPONSIBILITY

Our Community

Our community involves a wide range of groups including guests and their families, suppliers, business partners and charitable organisations. We believe that integrity in dealing with all our guests is essential for a successful and sustainable business relationship.

In Alice Springs, we have strong connection with a number of industry and community associations and accreditation programs, which provide vital cooperative marketing and consumer brand recognition which in turn benefit both the Alice Springs Convention Centre and relevant associations or programs. We are members and active supporters of the Chamber of Commerce Northern Territory ("NT"), Tourism Central Australia (TCA), Australian Tourism Accreditation Program and Meetings Events Australia (MEA). We believe that the exchange of ideas and participation

within economic and social forums is fundamental to our community's success. The Chief Operating Officer of Lasseters Hotel Casino is also chairperson of the Central Australia Liquor Accord - a voluntary committee established with representatives from licensed venues around Alice Springs, who work together to administer positive change to the safety and wellbeing of the Central Australian Community through Responsible Service of Alcohol (RSA) policies and procedures.

The Group has also taken an active role in supporting a number of charities and fundraising events. Through the provision of packages such as prizes or incentives for these events, we help to raise the necessary funds for various causes. Our marketing team also promotes awareness and support of these charitable organisations through our marketing materials. Over the last 12 months in Alice Springs, the Group has committed to sponsorships and recipients which include but not limited to, AFL NT, Red CentreNATS, Alice Springs Golf Club, Alice Springs Turf Club and Alice Springs Mountain Bike Club as well as significant discounts allocated annually to local schools for formals and year end events.

Our Environment

At Lasseters, we believe that everyone has a responsibility to contribute to sustainable, environmentally-friendly practices that conserve our natural resources and protect the planet for future generations. We understand that even the smallest changes can go towards making a big difference in our growing organisation.

We regularly review our environmental plan to ensure that it reflects changes in regulations and best practices. Voltage Power Optimisation units were installed in Alice Springs since 2016 which resulted in a 15.0% reduction in

energy consumption per annum. Since the partnership with InterContinental Hotel Group ("IHG") in year 2016, Crowne Plaza Alice Springs Lasseters ("CPASL") has participated in the IHG Green Engage programme and achieved Level 1 accreditation in November 2017. The IHG Green Engage programme is an online environmental sustainability tool which comprises more than 200 specific recommendations or 'Green Solutions' designed to reduce hotels' environmental impact. The programme helps to set and track specific reduction goals for usage of energy, carbon, water and waste. In year 2018, CPASL began initiatives for Level 2 of the programme and has taken steps to implement solutions such as sustainable purchasing and ingraining sustainability into hotel operations. Environmental Management System (EMS) is set up to formalise the policy, scope, implementation of initiatives, monitoring, measurement, and a responsibility matrix to ensure there is management and staff accountability.

It is anticipated that by adopting simple, environmentally friendly initiatives, we will raise awareness amongst stakeholders and the wider community.

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