abc Multiactive Limited — Interim / Quarterly Report 2004

Oct 13, 2004

GEM

ABC MULTIACTIVE<08131> - Results Announcement (Q3, 2003/2004, Summary)

abc Multiactive Limited announced on 13/10/2004:
(stock code: 08131 )

Year end date :30/11/2004
Currency :HKD
Auditors' report :N/A
3rd Quarterly Report Reviewed by :Audit Committee

Important Note :

This result announcement form only contains extracted information from
and should be read in conjunction with the detailed results announcement
of the issuer, which can be viewed on the GEM website at
http://www.hkgem.com

                                     (\* Unaudited)     (\* Unaudited)
                                          Current Last Corresponding
                                           Period            Period
                                   from 01/12/2003   from 01/12/2002
                                     to 31/08/2004     to 31/08/2003
                                             $'000             $'000

Turnover : 15,924 17,765
Profit/(Loss) from Operations : (1,674) 3,758
Finance cost : (817) (527)
Share of Profit/(Loss) of Associates : 0 0
Share of Profit/(Loss) of Jointly
Controlled Entites : 0 0
Profit/(Loss) after Taxation & MI : (2,491) 3,231
% Change Over the Last Period : N/A
EPS / (LPS)
Basic (in dollar) : (HKD 0.0155) HKD 0.02
Diluted (in dollar) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : 0 0
Profit (Loss) after ETD Items : (2,491) 3,231
3rd Quarter Dividends per Share : NIL NIL
(specify if with other options) : N/A N/A
B/C Dates for 3rd Quarter Dividends : N/A
Payable Date : N/A
B/C Dates for (-) General Meeting : N/A
Other Distribution for Current Period : NIL
B/C Dates for Other Distribution : N/A
(bdi: both days inclusive)

For and on behalf of
abc Multiactive Limited

Signature :
Name : Cheung, Siu Leong
Title : Company Secretary

Responsibility statement

The directors of the Company (the "Directors") as at the date hereof
hereby collectively and individually accept full responsibility for the
accuracy of the information contained in this results announcement form
(the "Information") and confirm, having made all reasonable inquiries,
that to the best of their knowledge and belief the Information are
accurate and complete in all material respects and not misleading and
that there are no other matters the omission of which would make the
Information herein inaccurate or misleading.The Directors acknowledge
that the Stock Exchange has no responsibility whatsoever with regard to
the Information and undertake to indemnify the Exchange against all
liability incurred and all losses suffered by the Exchange in connection
with or relating to the Information.

Remarks:

1. Basis of presentation

The accounts have been prepared in accordance with accounting
principles generally accepted in Hong Kong and comply with
accounting standards issued by the Hong Kong Insitute of
Certified Public Accountants ("HKICPA"). They are prepared under
the historical cost convention.

The unaudited consolidated results have not been audited by the
Company's auditors, but have been reviewed by the Company's
audit committee.

The accounting policies and basis of preparation used in the
preparation of the unaudited consolidated results are consistent
with those used in the Company's annual financial statements
for the year ended 30th November 2003, except for the Group's
adoption of the following new and revised SSAP issued by HKICPA
which is effective for accounting periods commencing on or
after 1st January 2003:

SSAP 12 (revised): Income taxes

The change to the Group's accounting policies and the effect of
adopting this revised standard is set out below:

Deferred taxation is provided in full, using the liability method,
on temporary differences arising between the tax bases of assets
and liabilities and their carrying amounts in the accounts.
Taxation rates enacted or substantively enacted by the balance
sheet date are used to determine deferred taxation.

Deferred tax assets are recognised to the extent that it is
probable that future taxable profit will be available against
which the temporary differences can be utilised.

Deferred taxation is provided on temporary difference arising on
investments in subsidiaries and associated companies except where
the timing of reversal of the temporary difference can be
controlled and it is probable that the temporary difference will
not reverse in the foreseeable future.

In the prior year, deferred taxation was accounted for at the
current taxation rate in respect of timing differences between
profit as computed for taxation purpose and profit as stated in
the accounts to the extent that a liability or an asset was
expected to be payable or recoverable in the foreseeable future.
The adoption of the revised SSAP 12 represents a change in
accounting policy, which was been applied retrospectively.
Since the adoption of this revised SSAP had no material impact
on the Group's accounts in prior or current accounting periods,
comparative figures have not been restated.

1. Basic loss per share

The calculation of basic loss per share for the three months
and nine months ended 31st August 2004 is based on the net loss
for the period of approximately HK$1,540,000 and HK$2,491,000,
respectively (Three months and nine months ended 31st August 2003:
net profit of HK$471,000 and HK$3,231,000 respectively), and the
weighted average of 160,590,967 ordinary shares of HK$0.10 each in
issue during the period.

Pursuant to a resolution in writing of the shareholders of the
Company on 6th January 2004, every ten of the authorised, issued
and unissued ordinary shares of HK$0.01 each in the share capital
of the Company were consolidated into one share such that the
authorised share capital of the Company became HK$1,000,000,000
consisting of 10,000,000,000 ordinary shares of HK$0.10 each and
the issued share capital of the Company was HK$16,059,097
consisting of 160,590,967 of HK$0.10 each. As such, the
comparative figure of basic earnings per share for three months
and nine months ended 31st August 2003 was re-calculated based
on the profit for the period of HK$471,000 and HK$3,231,000
respectively, and the adjusted weighted average of 160,590,967
ordinary shares of HK$0.10 each deemed in issue during the period.

Diluted (loss)/earnings per share has not been presented as there
was no dilutive potential ordinary share in existence during the
periods.