BA Investment`s equity holdings in the burgeoning tourism sector span a number of companies in Mauritius, grouped under Hot Springs Tourism Holdings.

These businesses provide leisure and hospitality services in a number of areas:

• Incoming tour operation and ground-handling
• Transfer and meet-and-greet services
• Tour operations services for individual travellers
• Incentive groups and conference organisation
• Car Rental
• GSA Services for Malaysian Airlines
• Outbound travel agency services including hotel bookings and ticketing
• Excursions and transport
• Luxury yacht charter

In addition we hold a majority stake in a retail leisure beachfront complex and minority stakes in a number of hotels.

With the continuous and considerable growth of tourist arrivals in Mauritius, we see major potential in the tourism sector. For this reason we are developing three beachfront hotels, an eco-village and a retirement complex, all of which will allow our equity holdings to consolidate into a significant vertically-integrated tourism player in Mauritius.