Sun Innovation to Focus on Property Investments in Macau

Sun Innovation to Focus on Property Investments in Macau



HONG KONG, April 19 /PRNewswire/ -- Sun Innovation Holdings Ltd. (the
"Group") announced its financial results for the year ending December 31,
2006 on April 17, 2007 and stated that it intends to focus on entertainment
related property development projects in Macau. In this regard, the Board
is currently reviewing potential projects. The Group has hired consultants,
who have considerable experience and knowledge in the Macau property
market, to research these opportunities.
For 2006, Macau realized a GDP increase of 16.6% from the previous year
for a total of US$14.3 billion. The number of visitors to Macau in 2006 was
over 22 million, representing a 17% increase when compared to 2005. Much of
this increase was due to the rapid expansion of Macau's gaming industry,
which has already overtaken Atlantic City and is fast becoming the Las
Vegas of Asia. It is the only place in China where casino gambling is legal
and, according to the territory, realized US$6.95 billion in gambling
revenue last year. The Las Vegas Sands, MGM Mirage and Wynn Resorts have
already begun to enter Macau's fast growing casino market.
Sun Innovation believes that the swift development of Macau's tourism
and leisure industries will result in a robust growth within the property
sector of Macau. Accordingly, the Group is exploring several potential
property investment opportunities in order to enter this exciting new
market.
Michele Matsuda, Chairman and Chief Executive Officer, said, "Going
forward, we are actively pursuing property investments in this booming
Chinese territory. We believe entering Macau's vibrant real estate market
will create value and long-term growth for the Group, particularly given
Macau's newly recognized status as a luxury, world class resort destination
for entertainment." Mr. Matsuda concluded, "For these reasons, we expect
our future initiatives to result in significant year-over-year company
growth and stock performance. We look forward to updating our shareholders
and the investment community in the very near future on our new endeavors."
About Sun Innovation Holdings Ltd.
Sun Innovation Holdings Ltd. is a Hong Kong-based multinational
conglomerate, with property investments, entertainment media business, and
media shopping services as its main businesses. Sun Innovation Holdings
Ltd. operates in Hong Kong, Macau, Mainland China, Japan, and Hawaii and is
listed on the Main Board of the Hong Kong Stock Exchange (stock code: 547).
Certain statements contained in this press release related to Sun
Innovation Holdings Limited's business are not historical facts. Such
statements may be regarded as forward-looking statements. Forward-looking
statements are made on the basis of management's views and assumptions
regarding future events and business performance as of the time the
statements were made. Management does not undertake any obligation to
update these statements -- Accordingly, risks and uncertainties are
inherent as actual results may differ materially from those expressed or
implied.