1999          1998
                                       Notes          HK$           HK$

FIXED ASSETS                             10   365,116,663   336,006,214
INTERESTS IN JOINTLY CONTROLLED
 ENTITIES                                12             -     9,661,140
INTERESTS IN AN ASSOCIATED COMPANY       13             -     6,662,347
LONG-TERM INVESTMENT                     14        50,000        50,000
NET CURRENT ASSETS                       15   393,607,133   439,752,850
                                              -----------   -----------
                                              758,773,796   792,132,551
                                              ===========   ===========

Financed by:
SHARE CAPITAL                            17    37,955,938    37,955,938
RESERVES                                 19   496,381,482   469,403,465
                                              -----------   -----------
SHAREHOLDERS' FUNDS                           534,337,420   507,359,403
MINORITY INTERESTS                            136,387,609   127,053,343
DEFERRED TAXATION                        20     6,749,000     8,615,000
BORROWINGS - DUE AFTER ONE YEAR          21    80,000,000   146,481,910
OBLIGATIONS UNDER FINANCE LEASES
 - DUE AFTER ONE YEAR                    22     1,299,767     2,622,895
                                              -----------   -----------
                                              758,773,796   792,132,551
                                              ===========   ===========

The financial statements on pages 21 to 58 were approved by the Board of
Directors on 25th June, 1999 and are signed on its behalf by:

               Siu Tit Lung                         Siu Yuk Lung
                 DIRECTOR                             DIRECTOR

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