UBA INVESTMENTS<00768> - Results Announcement

UBA Investments Limited announced on 20/05/2003:
(stock code: 00768 )
Year end date: 31/03/2003
Currency: HKD
Auditors' Report: Unqualified

                                                        (Audited   )
                                     (Audited   )       Last
                                     Current            Corresponding
                                     Period             Period
                                     from 01/04/2002    from 01/04/2001
                                     to 31/03/2003      to 31/03/2002 
                               Note  ($         )       ($         )
Turnover                           : 8,179,890          27,799,964        
Profit/(Loss) from Operations      : (18,157,102)       14,055,116        
Finance cost                       : (61,113)           (408)             
Share of Profit/(Loss) of 
  Associates                       : 0                  0                 
Share of Profit/(Loss) of
  Jointly Controlled Entities      : 0                  0                 
Profit/(Loss) after Tax & MI       : (18,018,215)       14,054,708        
% Change over Last Period          : N/A       %
EPS/(LPS)-Basic (in dollars)       : (0.017)            0.014             
         -Diluted (in dollars)     : N/A                0.014             
Extraordinary (ETD) Gain/(Loss)    : 0                  0                 
Profit/(Loss) after ETD Items      : (18,018,215)       14,054,708        
Final Dividend                     : NIL                NIL               
  per Share                                                               
(Specify if with other             : N/A                N/A               
  options)                                                                
                                                                          
B/C Dates for 
  Final Dividend                   : N/A          
Payable Date                       : N/A       
B/C Dates for Annual         
  General Meeting                  : 02/07/2003         to 08/07/2003bdi.
Other Distribution for             : N/A           
  Current Period                     
                                     
B/C Dates for Other 
  Distribution                     : N/A          

Remarks:

1.      Turnover and revenue

The Group principally invests in listed and unlisted securities, including 
equity securities and convertible bonds.
                                                                                
                                                2003            2002
                                                HK$             HK$
                                                                                
                
Proceeds from sale of listed securities         2,697,639       27,510,942
Dividend income from:
- Listed equity securities                      1,062,251       289,022
- Unlisted equity securities                    4,420,000       0
                                                ---------       ----------
                                                8,179,890       27,799,964
                                                =========       ==========

No analysis of the Group's turnover and contribution to operating loss for 
the year set out by principal activities and geographical markets is 
provided as the Group has only one single business segment, investment 
holding, and all the consolidated turnover and the consolidated results of 
the Group are attributable to markets in Hong Kong.

2.      (Loss) earnings per share

The calculation of basic (loss) earnings per share is based on the Group's 
loss attributable to shareholders of HK$18,018,215 (2002: profits of HK$ 
14,054,708) and the weighted average of 1,048,671,500 (2002: 
1,010,714,000) ordinary shares in issue during the year.

There was no dilution effect on the basic loss per share for the year 
ended March 31, 2003 as all subscription rights attaching to the 2002 
warrants lapsed on June 30, 2002.  The diluted earnings per share for the 
year ended March 31, 2002 was based on 1,033,105,658 ordinary shares which 
was the weighted average of 1,010,714,000 ordinary shares in issue during 
the year plus the weighted average of 22,391,658 ordinary shares deemed to 
be issued at no consideration if all outstanding warrants had been 
exercised during that year.