1998         1997
                                          Notes      HK$'000      HK$'000

INTERESTS IN SUBSIDIARIES                   13       232,554      232,750

CURRENT ASSETS                              15           451        1,039

CURRENT LIABILITIES                         17          (364)      (1,152)
                                                    --------     --------
NET CURRENT ASSETS/(LIABILITIES)                          87         (113)
                                                    --------     --------
                                                     232,641      232,637
                                                    ========     ========
SHARE CAPITAL                               20        43,923       43,923

RESERVES                                    21       188,718      188,714
                                                    --------     --------
                                                     232,641      232,637
                                                    ========     ========

            Yau Tak Wah, Paul                      Yung Ip Ki
                 Director                           Director