Mandarin Oriental International Limited - Mandarin Oriental Hotel ...
Mandarin Oriental International Limited - Mandarin Oriental Hotel ...
Mandarin Oriental International Limited - Mandarin Oriental Hotel ...
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FINANCIAL REVIEW<br />
June June<br />
2004 2003<br />
US$m US$m<br />
Shareholders’ Funds – IFRS 607 564<br />
Revaluation of Leasehold Interests 378 371<br />
Adjusted Shareholders’ Funds 985 935<br />
� Economic substance of 999 year leases of HK properties not reflected in<br />
IFRS numbers