08:59     SUNWAY INT'L<00058> - Results Announcement                          

    Sunway International Holdings Limited announced on 23/01/2003:            
    (stock code: 00058 )                                                      
    Year end date: 30/09/2002                                                 
    Currency: HKD                                                             
    Auditors' Report: Unqualified                                             
                                                            (Audited   )      
                                         (Audited   )       Last              
                                         Current            Corresponding     
                                         Period             Period            
                                         from 01/10/2001    from 01/10/2000   
                                         to 30/09/2002      to 30/09/2001     
                                   Note  ('000      )       ('000      )      
    Turnover                           : 693,260            661,622           
    Profit/(Loss) from Operations      : 54,047             23,888            
    Finance cost                       : (17,326)           (12,808)          
    Share of Profit/(Loss) of                                                 
      Associates                       : (2,932)            (3,036)           
    Share of Profit/(Loss) of                                                 
      Jointly Controlled Entities      : N/A                N/A               
    Profit/(Loss) after Tax & MI       : 30,219             5,453             
    % Change over Last Period          : +454.2    %                          
    EPS/(LPS)-Basic (in dollars)       : 0.03               0.005             
             -Diluted (in dollars)     : N/A                N/A               
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : 30,219             5,453             
    Final Dividend                     : 1 cent             NIL               
      per Share                                                               
    (Specify if with other             : N/A                N/A               
      options)                                                                
    B/C Dates for                                                             
      Final Dividend                   : 20/02/2003         to 24/02/2003bdi. 
    Payable Date                       : 03/04/2003                           
    B/C Dates for Annual                                                      
      General Meeting                  : 20/02/2003         to 24/02/2003bdi. 
    Other Distribution for             : N/A                                  
      Current Period                                                          
    B/C Dates for Other                                                       
      Distribution                     : N/A                                  
    Remarks:                                                                  
    (1)     Turnover from continuing operations                               
                                                            2002        2001  
                                                            HK$'000    HK$'000
            Manufacture and sale of:                                          
            -Electronics and related components and parts   154,582    232,274
            -Consumer electronic products                   473,626    375,700
            Trading of integrated circuits                   65,052     53,648
                                                            ------------------
                                                            693,260    661,622
                                                            =======    =======
    (2)     Profit from continuing operations                                 
                                                    2002            2001      
                                                    HK$'000         HK$'000   
                                                                              
    Turnover                                        693,260         661,622   
    Cost of sales                                   (599,049)      (572,366)  
                                                    ------------------------  
    Gross profit                                    94,211          89,256    
                                                                              
    Other revenue                                   4,459           5,430     
    Selling and distribution costs                  (5,793)         (5,056)   
    Administrative expenses                         (51,895)        (45,459)  
    Other operating income / (expenses), net         13,065         (20,283)  
                                                    ------------------------  
    Profit from operating activities                54,047          23,888    
                                                    =======         ========  
    (3)     The Group's profit from operating activities is arrived at after  
    charging/(crediting):                                                     
                                                    2002            2001      
                                                    HK$'000         HK$'000   
            Cost of inventories sold                564,094         551,504   
            Depreciation                            36,412          34,309    
            Staff costs (excluding directors' remuneration)                   
                    Salaries and allowances         106,637         115,937   
                    Pension contributions           4,541           1,789     
            Provision / (write-back of provision) for doubtful debts          
                                                    (10,633)        12,640    
            Provision for inventories               34,955          20,862    
            Research and development costs written off                        
                                                    178             1,894     
            Revaluation deficit / (surplus) on fixed assets, net              
                                                    (2,870)         7,351     
            Gain on disposal of fixed assets        -               (69)      
            Interest income                         (384)           (1,635)   
                                                    =======         ========  
    (4)     The calculation of basic earnings per share is based on the net   
    profit attributable to shareholders for the year of HK$30,219,000 (2001 : 
    HK$5,453,000) and the weighted average number of 1,014,635,986 (2001 :    
    1,007,340,008) ordinary shares in issue during the year.                  
            Diluted earnings per share amounts for the years ended 30         
    September 2002 and 2001 have not been disclosed, as any potential ordinary
    shares of the Group outstanding during these years in respect of the      
    deemed exercise of all share options and the deemed conversion of all     
    convertible bonds had anti-dilutive effects on the earnings per share for 
    these years.                                                              
    For more details, please refer to the press announcement today.