Period from
                                                             1st November,
                                                Year ended         1996 to
                                            31st December,  31st December,
                                                      1998            1997
                                        Notes      HK$'000         HK$'000

TURNOVER                                  2        483,557         557,056
                                                ==========       =========
OPERATING PROFIT/(LOSS) BEFORE
  EXCEPTIONAL ITEM                        3        (19,567)         13,737

Exceptional item                          5         (7,926)             --
                                                ----------       ---------
OPERATING PROFIT/(LOSS)                            (27,493)         13,737

Share of profits less losses of
  associated companies                                  23              --
                                                ----------       ---------
PROFIT/(LOSS) BEFORE TAXATION                      (27,470)         13,737

Taxation                                  6            988          (2,715)
                                                ----------       ---------
PROFIT/(LOSS) BEFORE MINORITY INTERESTS            (26,482)         11,022

Minority interests                                      (4)              5
                                                ----------       ---------
NET PROFIT/(LOSS) ATTRIBUTABLE TO
  SHAREHOLDERS                            7        (26,486)         11,027
                                                ==========       =========
EARNINGS/(LOSS) PER SHARE                 8
  Basic                                         (6.0 cents)      2.5 cents
                                                ==========       =========
  Diluted                                              N/A             N/A
                                                ==========       =========