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Consolidated Balance Sheet
As at 31st March 1999

                                                      1999       1998
                                           Note    HK$'000    HK$'000

FIXED ASSETS                                11   1,028,860  1,201,027

OTHER INVESTMENTS                           13       4,299      5,048

TRADEMARKS AND PATENTS                      14      31,941     33,291

DEFERRED EXPENDITURE                        15         344      4,899

LONG TERM RECEIVABLE                        16           -     15,500

NET CURRENT ASSETS                          17     248,306    731,799
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EMPLOYMENT OF FUNDS                              1,313,750  1,991,564
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Financed by:

SHARE CAPITAL                               20      93,634     93,634

RESERVES                                    21     543,587    739,024
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SHAREHOLDERS' FUNDS                                637,221    832,658

MINORITY INTERESTS                                   1,679      1,604

DEFERRED TAXATION                           22         156       (395)

CONVERTIBLE NOTES                           23     415,785    535,500

LOANS FROM SHAREHOLDERS                     24       3,892     63,246

OTHER LONG TERM LIABILITIES                 25     255,017    558,951
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FUNDS EMPLOYED                                   1,313,750  1,991,564
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              Wong Chong Po                      Joseph C. C. Wong
            Executive Chairman                   Managing Director

Source: STELUX Holdings International Limited
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