13:30     FOUNDER HOLD<00418> - Results Announcement (1)                      

    Founder Holdings Limited announced on 22/04/2005:                         
    (stock code: 00418 )                                                      
    Year end date: 31/12/2004                                                 
    Currency: HKD                                                             
    Auditors' Report: Unqualified                                             
                                                                              
                                                            (Audited   )      
                                         (Audited   )       Last              
                                         Current            Corresponding     
                                         Period             Period            
                                         from 01/01/2004    from 01/01/2003   
                                         to 31/12/2004      to 31/12/2003     
                                   Note  ('000      )       ('000      )      
    Turnover                           : 2,013,831          1,553,796         
    Profit/(Loss) from Operations      : (21,018)           (6,618)           
    Finance cost                       : (875)              (2,071)           
    Share of Profit/(Loss) of                                                 
      Associates                       : 3,350              3,836             
    Share of Profit/(Loss) of                                                 
      Jointly Controlled Entities      : (17)               1,028             
    Profit/(Loss) after Tax & MI       : (27,183)           7,215             
    % Change over Last Period          : N/A       %                          
    EPS/(LPS)-Basic (in dollars)       : (0.024)            0.006             
             -Diluted (in dollars)     : N/A                N/A               
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : (27,183)           7,215             
    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 (-)                                                         
      General Meeting                  : N/A                                  
    Other Distribution for             : N/A                                  
      Current Period                                                          
    B/C Dates for Other                                                       
      Distribution                     : N/A                                  
                                                                              
    Remarks:                                                                  
                                                                              
    1.      IMPACT OF RECENTLY ISSUED HONG KONG FINANCIAL REPORTING STANDARDS 
            ("HKFRSs")                                                        
                                                                              
    The Hong Kong Institute of Certified Public Accountants has issued a      
    number of new and revised Hong Kong Financial Reporting Standards and Hong
    Kong Accounting Standards ("HKASs"), herein collectively referred to as   
    the new HKFRSs, which are generally effective for accounting periods      
    beginning on or after 1 January 2005.  The Group has resolved to early    
    adopt the following new HKFRSs in the financial statements for the year   
    ended 31 December 2004:                                                   
                                                                              
    - HKFRS 3 "Business combinations"                                         
    - HKAS 36 "Impairment of assets"                                          
    - HKAS 38 "Intangible assets"                                             
                                                                              
    The major effects on the Group's accounting policies and amounts disclosed
    in these financial statements are summarised as follows:                  
                                                                              
    HKFRS 3 prescribes the accounting for business combinations.  The early   
    adoption of HKFRS 3 requires the early adoption of HKAS 36 and HKAS 38.   
    The early adoption of HKFRS 3, HKAS 36 and HKAS 38 has resulted in a      
    change in the accounting policy for goodwill.                             
                                                                              
    Prior to the adoption:                                                    
                                                                              
    - goodwill arising on acquisitions after 1 January 2001 was recognised in 
    the consolidated balance sheet as an asset and amortised on the straight- 
    line basis over its estimated useful life subject to a maximum 20 years;  
    - goodwill arising on acquisitions before 1 January 2001 was eliminated   
    against consolidated reserves in the year of acquisition;                 
    - goodwill was assessed for impairment at each balance sheet date;        
    - impairment loss of goodwill was charged to the consolidated profit and  
    loss account; and                                                         
    - on disposal of subsidiaries, the gain or loss on disposal is calculated 
    by reference to the net assets at the date of disposal, including the     
    attributable amount of goodwill which remains unamortised and any relevant
    reserves, as appropriate.  Any attributable goodwill previously eliminated
    against consolidated reserves at the time of acquisition is written back  
    and included in the calculation of the gain or loss on disposal.