In line with the Group's business strategy of "dual engine" and seeking recurring income and cashflow, the Group continue to expand in the gaming sector. In Brisbane, Australia, the Consortium, a joint venture between FEC Australia, a wholly owned subsidiary of the Group, The Star Entertainment Group Limited ("The Star") and Chow Tai Fook Enterprises Limited ("CTF"), entered into development agreements with the Queensland State for the delivery of the Queen's Wharf Brisbane project ("Project") through its various related entities. In Europe, the Group grew its business by establishing a gaming platform with the full acquisition of Trans World Corporation ("TWOC") which primarily engages in the hospitality and gaming business in Czech Republic, Germany and Austria. In Australia, the Group, CTF and The Star entered into an agreement under which the parties will form a strategic alliance to facilitate mutual business growth and enable each party to benefit from each other's capabilities and scale and to leverage each party's experience and expertise to assist in the future growth and development of each of the parties' business.