1999       1998
                                        Note     HK$'000    HK$'000

SUBSIDIARY COMPANIES                     12      496,269    843,080

NET CURRENT LIABILITIES                  17       (2,449)    (2,342)
-------------------------------------------------------------------
EMPLOYMENT OF FUNDS                              493,820    840,738
-------------------------------------------------------------------

Financed by:

SHARE CAPITAL                            20       93,634     93,634

RESERVES                                 21      396,294    682,451
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SHAREHOLDERS' FUNDS                              489,928    776,085

LOANS FROM SHAREHOLDERS                  24        3,892     63,246

OTHER LONG TERM LIABILITIES              25            -      1,407
-------------------------------------------------------------------
FUNDS EMPLOYED                                   493,820    840,738
-------------------------------------------------------------------


             Wong Chong Po                    Joseph C. C. Wong
          Executive Chairman                  Managing Director

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