Interim Results

Hidong Estate PLC
04 December 2003


Hidong Estate PLC
(Incorporated in England)

Interim Report of Shareholders
Half Year Ended 30th September, 2003

The estimated results for the half year ended 30th September, 2003 are given
below with appropriate comparative figures:-

                                       -----------     -----------   -----------
                                         Half year       Half year      Year 
                                           ended           ended        ended
                                      30 Sept,2003    30 Sept,2002   31 Mar,2003
                                            RM              RM            RM

Turnover                                  937,371         678,239     1,405,971
Cost of sales - including
replanting                               
Expenditure of RM37,122
(2002:RM62,809)                          (700,710)       (517,031)   (1,112,592)
                                       -----------     -----------   -----------
Profit                                    236,661         161,208       293,379
Distribution costs                        (45,684)        (40,244)      (73,924)
Administrative expenses                   (95,104)        (79,631)     (135,542)
                                       -----------     -----------   -----------
                                           95,873          41,333        83,913
Other income                                5,581               -             -
                                       -----------     -----------   -----------
Operating Profit                          101,454          41,333        83,913
Tangible fixed assets written
off                                             -               -        (1,893)
Interest receivable on short
term deposits                               2,249           2,646         5,589
                                       -----------     -----------   -----------
Profit on ordinary activities             
before taxation and extraordinary
items                                     103,703          43,979        87,609
Tax on profit on ordinary
activities                                      -               -        (1,057)
                                       -----------     -----------   ----------- 
RETAINED PROFIT AFTER                     
TAXATION BUT BEFORE
EXTRAORDINARY ITEMS                       103,703          43,979        86,552
Extraordinary items                             -               -             -
                                       ===========     ===========   ===========
PROFIT ATTRIBUTABLE                       
TO SHAREHOLDERS                           103,703          43,979        86,552
                                       ===========     ===========   ===========
Earnings per 10p share                   6.05 sen        2.52 sen      5.05 sen
                                       ===========     ===========   ===========

STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES

The Company has no recognised gains and losses other than the gain of RM103,703
for the six months period ended 30th September, 2003 (2002: gain RM43,979).

Notes:

1. The Company reported an operating profit of RM101,454 for the half year
ended 30th September, 2003. This profit, as compared to a profit RM41,333 for
the corresponding period, was mainly attributed to increase FFB and rubber
prices. Production for FFB and rubber have also improved.

2. The directors do not propose to pay any interim dividend (last year -
nil)

3. A gradual increase in output of FFB is expected. Baring unforeseen
circumstances, such as price depression or abnormal weather conditions, it is
hoped that the company could see an improvement in its performance for the
second half of the financial year.

4. A copy of this report will be sent to shareholders and will be
available for inspection at the Company's registered office, 34 Beckenham Road,
Beckenham, Kent, BR3,4TU.


CHEW SING GUAN
Penang, 4th December 2003 Chairman


Hidong Estate PLC
(Incorporated in England)

Balance Sheet
as at 30th September, 2003
                                   -----------      -----------    -----------
                                    Half year        Half year        Year 
                                      ended            ended          ended
                                  30 Sept, 2003    30 Sept, 2002   31 Mar, 2003
                                        RM               RM             RM
FIXED ASSETS
Tangible assets                     7,643,675        6,479,727      7,656,556
                                   -----------      -----------    -----------

CURRENT ASSETS
Stocks                                 76,471          135,403        100,670
Debtors                               226,103          149,385        102,745
Cash at bank and in hand              386,402          256,615        348,822
Tax refundable                         52,844           61,176         63,619
                                   -----------      -----------    -----------
                                      
CURRENT LIABILITIES                   741,820          602,579        615,856
                                   -----------      -----------    -----------
Creditors : Amounts falling
due within one year                  (180,226)        (219,819)      (170,846)
                                   -----------      -----------    ----------- 
NET CURRENT ASSETS                    561,594          382,760        445,010
                                   -----------      -----------    -----------
TOTAL ASSETS LESS                   8,205,269        6,862,487      8,101,566
CURRENT LIABILITIES
PROVISION FOR LIABILITIES
AND CHARGES                          (530,155)        (217,149)      (530,155)
                                   -----------      -----------    -----------
NET ASSETS                          7,675,114        6,645,338      7,571,411
                                   ===========      ===========    ===========

CAPITAL AND RESERVES
Called up share capital             1,067,846        1,067,846      1,067,846
Revaluation reserve                 5,832,048        4,948,548      5,832,048
Profit and loss account               775,220          628,944        671,517
                                   ===========      ===========    ===========
TOTAL EQUITY SHAREHOLDERS'          
FUNDS                               7,675,114        6,645,338      7,571,411
                                   ===========      ===========    ===========

These financial statements were approved by the Board of Directors on 4th
December, 2003.

CHEW SING GUAN         )
                       )
                       ) Directors
                       )
ZAMBRI BIN HAJI MAHMUD )

Hidong Estate PLC
(Incorporated in England)

Reconciliation of Operating (Loss) / Profit to
Net Cash outflow from Operating Activities

                         ----------------     ----------------    -------------
                         Half year ended      Half year ended       Year ended
                           30 Sept, 2003        30 Sept, 2002     31 Mar, 2003
                                   RM                  RM                RM

Operating profit                 101,454               41,333           83,913
Depreciation charge               12,881               12,921           25,762
Provision for service
gratuity benefits                      -                    -            6,506
(Increase) / Decrease in
stocks                            24,199              (29,308)           5,425
(Increase) / Decrease in
debtors                         (123,358)             (94,881)         (48,241)
Increase / (Decrease) in
creditors                          9,380               29,864          (19,109)
                              -----------          -----------        ---------
                                  24,556              (40,071)          54,256
                              ===========          ===========        =========

Cash flow statement for the Half year
Ended 30th September, 2003
                              ----------------  ----------------  -------------
                              Half year ended    Half year ended     Year ended
                                30 Sept, 2003      30 Sept, 2002   31 Mar, 2003
                                        RM                RM             RM

NET CASH INFLOW/(OUTFLOW)              
OPERATING ACTIVITIES                   24,556           (40,071)         54,256

RETURNS ON INVESTMENTS AND
SERVICING OF FINANCE
Interest received                       2,249             2,646           5,589

TAXATION
Overseas tax paid                        (600)           (3,000)         (6,499)
Tax refund                             11,375                 -               -
                                   -----------       -----------     -----------

CAPITAL EXPENDITURE
Sale of fixed assets                        -                 -               -
Purchase of tangible fixed
assets                                      -            (1,688)         (3,252)
                                   -----------       -----------     -----------
                                            -            (1,688)         (3,252)
                                   -----------       -----------     -----------
NET CASH INFLOW/ (OUTFLOW)             
BEFORE MANAGEMENT OF
LIQUID RESOURCES                       37,580           (42,113)         50,094

MANAGEMENT OF LIQUID
RESOURCES
Increase/Decrease in short
term deposits                          60,000           (60,000)         (5,000)
                                   -----------       -----------     -----------
INCREASE/DECREASE IN CASH             (22,420)           17,887          55,094
                                   ===========       ===========     ===========



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