1998	1997
	HK$'000	HK$'000
FIXED ASSETS	3,120,895	1,643,213
INVESTMENT PROPERTY	2,557	2,945
SATELLITE PROJECT PROGRESS PAYMENTS	-	1,804,963
LONG TERM INVESTMENTS	5,537	5,537
INTEREST IN A JOINT VENTURE	2,522	5
CURRENT ASSETS
Cash and bank balances	230,377	96,424
Trade debtors	21,785	4,796
Prepayments, deposits and sundry debtors	7,973	17,209
Tax recoverable	4,785	-
	----------	----------
	----------	----------
CURRENT LIABILITIES
Sundry creditors and accrued expenses	27,041	49,860
Trade deposits received	-	8,912
Rentals received in advance	52,553	47,087
Bank loans	401,865	274,001
Taxation	-	1,313
Due to ultimate holding company	-	5
Due to a related company	2,150	4,123
	----------	----------
	483,609	385,301
	----------	----------
NET CURRENT LIABILITIES	(218,689)	(266,872)
	----------	----------
TOTAL ASSETS LESS CURRENT LIABILITIES	2,912,822	3,189,791
LONG TERM LIABILITIES
Trade deposits received	60,706	73,291
Bank loans	228,017	513,623
Deferred rental income	243,921	263,655
Deferred taxation	111,919	99,215
	----------	----------
	644,563	949,784
	-------------	-------------
	========	========
SHAREHOLDERS' EQUITY
Share capital	42,000	42,000
Share premium	1,315,522	1,315,522
Contributed surplus	511,000	511,000
Retained profits	262,737	203,520
	----------	----------
	2,131,259	2,072,042
LOANS FROM SHAREHOLDERS	137,000	167,965
	-------------	-------------
	2,268,259	2,240,007
	========	========