Petaling Tin Berhd - Final Results

RNS No 8420x
PETALING TIN BERHAD
29th January 1999


PETALING TIN BERHAD
(Incorporated in Malaysia)
AND ITS SUBSIDIARIES

Unaudited Profit Statement for the year ended 31 October 1998


                                 G R O U P              C O M P A N Y    
                           31/10/98 31/10/97  +or-%   31/10/98 31/10/97  + or -%

                            RM '000  RM '000  CHANGE   RM '000  RM '000  CHANGE

1. (a) TURNOVER                 997      536     86%      -        536  (100%)  

   (b) Investment and other
       income excluding
       Extraordinary items      860    1,182    (44%)      508   1,042    (51%)

(2) (a) Consolidated Operating
Loss before Income Tax, Minority 
interest and Extraordinary items
and after interest on Borrowings,
Depreciation and Amortisation
(see notes (i) and(ii) below) (15,230) (5,709)  (167%)  (14,257) (5,164)  (176%)

(b) Add: Share of Loss of
Associated Company               -       (82)  100%        -       -       -

                             (15230)  (5,791) (163%)   (14,257) (5,164) (176%)

(c) Less Income Tax             (43)     (34)  (26%)       -       -       -

(d) (i) Consolidated 
Operating Loss Before
deducting Minority interest (15,273)  (5,825) (162%)   (14,257) (5,164) (176%)

    (ii) Minority interest      -        -      --         -       -      -

(e) CONSOLIDATED OPERATING LOSS 
    ATTRIBUTABLE TO MEMBERS OF
    THE COMPANY            (15,273)   (5,825)  (162%)  (14,257) (5,164)  (176%)


(f) (i) Extraordinary items    -         -       -          -       -      -

    (ii)Less Minority interests
                               -         -       -          -       -      -
  (iii) Extraordinary items
        attributable to 
        Members of the Company -         -       -          -       -      -

(g) Consolidated Operating Loss
    & Extraordinary items
    attributable to Members
    of the Company        (15,273)    (5,825)   (162%)  (14,257) (5,164) (176%)

Note: (i) Interest on 
      Borrowings, including 
      Interest on Bank 
      Overdrafts            1,202        167     620%        173      -     -

      (ii) Depreciation
      including Amorti-
      sation                1,675      1,166      44%         78  1,165   (93%)

3. Operating loss (2(d)(i)
   above as a percentage of
   Turnover (1(a) above  (1,532%)    (1,087%)       -          -  (963%) 

4. Operating loss (2(e) above
   as a percentage of 
   Issued Capital and 
   Reserves at end of 
   year                   (128%)        (21%)       -      (93%)   (17%)     -

5. Earning in sen per 
   ordinary share for 
   the year based on 2(e) (75.7)       (28.9)       -     (70.7)   (26)
   after deducting
   therefrom provision
   for preference
   dividends, if any (sen)

6. Net tangible asset
   backing per ordinary 
   share (sen)              59           170        -       76      145

7. The Group has ceased its tin mining operation and hence, no sales of tin
   ore were made.  However, PTB Clay Products Sdn Bhn, a wholly-owned
   subsidiary, commenced operations of its bricks manufacturing plant on 
   28th February 1998.  The substantial increase in losses compared to the
   corresponding period in the previous year are due mainly to:

   i)   provisions for bad debt on amount owing from an associate company;
  ii)   write off of stocks and pre-stripping expenditure incurred on 
        mining in view of the cessation of tinmining operations;
 iii)   provision for dimunition in value of investment in quoted shares.


                              G R O U P                    C O M P A N Y
                        31/10/98  31/10/97  + or-%  31/10/98  31/10/97  + or -%
                         RM'000    RM'000   CHANGE   RM '000   RM '000  CHANGE

8. (a) Consolidated 
   Operating Loss  
   (ref. 2(a) above) 
   reported for first 
   half year            (11,513)  (3,943)   (192%)  (12,084)  (3,864)   (213%)

   (b) Consolidated
   Operating Loss 
   (ref. 2(e) above) 
   reported for second 
   half year             (3,760)  (1,882)   (100%)   (2,173)  (1,300)   (87%)


9. There was no deferred tax or adjustment for under or over provision in
   respect of prior year.

10.There was no pre-acquisition profits.

11.There was a loss of RM6,002.00 on sales of quoted shares

12.There were no rights or any issues of stock since the previous dividend was
   paid.

13.Following requests and indications from the relevant land and district
   office and lessor of the mining land for the surrender of mining leases held,
   the company has made preparations during the period concerned to cease its
   tin mining operations and related activities.  While the surrender of the
   said leases is still pending, the Company is pursuing negotiations with the
   relevant parties.

14.No decision regarding dividend has been made.

15.The Company is also pleased to confirm that the computerisation system which
   the Company adopts is able to effectively deliver results from this point in
   time and into the year 2000


By Order of the Board
PETALING TIN BERHAD

CHANG YUET MEI
SECRETARY

Kuala Lumpur
Date: 29 January 1999


END

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