QUARTERLY   REPORT
                                                                                                                                                         30th June 2000
SELANGOR   PROPERTIES   BERHAD
(5199-X)
(Incorporated in Malaysia)

Quarterly report on consolidated results for the financial quarter ended 30th April 2000. The figures have not been audited.

CONSOLIDATED INCOME STATEMENT
| INDIVIDUAL | QUARTER | CUMULATIVE | QUARTER | |
| CURRENT | PRECEDING YEAR | CURRENT | PRECEDING YEAR | |
| YEAR | CORRESPONDING | YEAR | CORRESPONDING | |
| QUARTER | QUARTER | TO DATE | PERIOD | |
| 30/04/2000 | 30/04/1999 | 30/04/2000 | 30/04/1999 | |
| RM’000 | RM’000 | RM’000 | RM’000 | |
1   (a) Turnover | 47,193 | | 140,877 | 62,239 | |
(b)  Investment income | 13,435 | | 78,423 | 4,699 | |
(c)  Other income including interest income | 4,909 | | 9,842 | 27,094 | |

2   (a)  Operating profit/(loss) before
           interest on borrowings, depreciation and
           amortisation, exceptional items, income tax,
           minority interests and extraordinary items

30,716

75,074

44,767

(b)  Interest on borrowings | (4,904) | | (8,787) | (3,036) | |
(c)  Depreciation and amortisation | (1,045) | | (2,056) | (1,878) | |
(d)  Exceptional items | | | | | |

(e)  Operating profit/(loss) after
           interest on borrowings, depreciation and
           amortisation and exceptional items but
           before income tax, minority interests and
           extraordinary items

24,767

64,231

39,853

(f )  Share in the results of associated companies | 152 | | (583) | 2,971 | |

(g)  Profit/(loss) before taxation, minority
           interests and extraordinary items

24,919

63,648

42,824

(h)  Taxation | (4,745) | | (7,316) | (63) | |

(i)   (i)   Profit/(loss) after taxation
                 before deducting minority interests

20,174

56,332

42,761

(ii)  Less minority interests | 401 | | 584 | 794 | |

(j)   Profit/(loss) after taxation
           attributable to members of the company

19,773

55,748

41,967

(k)  (i)   Extraordinary items | | | | | |
(ii)  Less minority interests | | | | | |

(iii) Extraordinary items attributable to
                members of the company

(l)   Profit/(loss) after taxation and extraordinary
           items attributable to members of the
           company

19,773

55,748

41,967

3   (a)  Earnings per share based on 2(j) above after
           deducting any provision for preference
           dividends, if any:-

(i)  Basic (based on 343,616,761
                ordinary shares) (sen)
           (ii) Fully diluted (based on 343,616,761
                ordinary shares) (sen)

5.75

16.22

12.21

4   (a)  Dividend per share (sen)
     (b)  Dividend Description

| AS AT END OF CURRENT QUARTER | AS AT PRECEDING FINANCIAL YEAR END | | |
5    Net Tangible Assets per share (RM) | 2.90 | | 2.73 | | |

CONSOLIDATED BALANCE SHEET
| AS AT | AS AT
| END OF | PRECEDING
| CURRENT | FINANCIAL
| QUARTER | YEAR END
| 30/04/2000 | 31/10/1999
| RM’000 | RM’000
1   Fixed Assets | 20,792 | 18,773
2   Investment in Associated Companies | 168,507 | 130,121
3   Long Term Investments | 438,773 | 435,052
4   Intangible Assets | 1,115 | 1,115
5   Development Properties | 357,486 | 238,531
6   Long Term Debtors | 43,967 | 42,000
| 1,030,640 | 865,592
7   Current Assets | |
Stocks | 114 | 92
Trade Debtors | 25,383 | 106,217
Short Term Investments | 176,537 | 259,503
Cash | 76,116 | 31,736
Deposits with Financial Institutions | 451,619 | 321,091
Mortgage Loans | 871 | 591
Other Debtors | 49,270 | 43,197

Due from Associated Companies
         Construction in Progress

15,729
        80,089

50,525
              64,336

| 875,728 | 877,288
8   Current Liabilities | |
Short Term Borrowings | 57,788 | 20,197
Trade Creditors | 957 | 1,287
Other Creditors | 301,316 | 355,160
Provision for Taxation | 5,804 | 3,100
Fees Received in Advance | 3,278 | 6,557
Proposed Dividend | 27,214 | 27,214
Due to Holding Company | 150,528 | 59,894
Due to Director or their Related Company | 96 | 352
| 546,981 | 473,761
9   Net Current Assets | 328,747 | 403,527
| 1,359,387 | 1,269,119
10 Shareholders’ Funds | |
Share Capital | 343,617 | 343,617
Reserves | |
Share Premium | 201,754 | 201,754
Revaluation Reserve | 23,723 | 23,723
Capital Reserve | 47,207 | 47,207

Retained Profit
         Exchange Fluctuation Reserve

378,637
3,607

322,889
207

| 654,928 | 595,780
11  Minority Interests | 4,024 | 3,440
12  Long Term Borrowings | 343,209 | 315,704
13  Deferred Taxation | 13,609 | 10,578
| 1,359,387 | 1,269,119
14  Net tangible assets per share (Sen) | 290 | 273

NOTES

1.	There has been no change in the accounting policies and methods of computation of this quarterly financial 	statements compared with the most recent annual financial statement.

2.	There are no exceptional items.

3.	There are no extraordinary items.

4.	The tax figures do not contain any deferred tax and/or adjustment for under or over-provisions in respect of prior years.

5.	There are no pre-acquisition profits for the current financial year to date.

6.	The profits from sale of investment for the current financial year to date totals RM78,423,000.

7.	Particulars of Purchase or Disposal of Quoted Securities for  the current financial year to date :--

(a)      Summary of Dealings In Quoted Securities: | RM’000
Total Purchases | 933,539
Total Disposals | 1,011,962
Total Profit on Disposal | 78,423

(b)     Investments in Quoted Securities: | RM’000
Total investments at cost | 246,489

Total investments at carrying value/book value 
                (after provision for diminution in value)

176,451

Total investment at market value at end of reporting period | 187,447

8.	There are no changes in the composition of the company for the current financial year to date including business combinations, acquisition or disposal of subsidiaries and long term investments, restructuring and discontinuing operations.

9.	Status of Corporate Proposals: The By-laws and allotment list of the Employees’ Share Option Scheme (‘ESOS’) have been approved by the Securities Commission and the Registrar of Companies.   

10.	The company’s properties and investments are affected by economic cycles in their principal markets. 	

11.	There were no issuance and repayment of debt and equity securities, share buy-backs, share cancellations, shares held as treasury shares and resale of treasury shares for the current financial year to date.

12.	Group Borrowings and Debt Securities as at the end of the reporting period:-

Security | Currency | Short Term | Long Term | Total
Secured | USD | RM  48,603,251 | | RM  48,603,251
Secured | AUD | RM    2,984,405 | | RM    2,984,405
Secured | AUD | - | RM278,451,643 | RM278,451,643
Unsecured | AUD | - | RM  64,757,000 | RM  64,757,000
Unsecured | RM | RM    6,200,000 | | RM    6,200,000
Total | | RM  57,787,656 | RM343,208,643 | RM400,996,299

13. 	Contingent Liabilities: Corporate guarantee given in support of a AUD29,000,000 (RM64,757,000) credit facility granted to the bare trustee of a wholly owned subsidiary.

14.	Off Balance Sheet Financial Instruments:-
Contract Date | 28/5/99 | 25/9/98 | Total
Currency | AUD | AUD | AUD
Notional Cover | RM44,660,000 | RM11,165,000 | RM55,825,000
Cover Dates | 16/7/98-16/7/01 | 19/10/98-19/10/00 |
Cap Rate | 6.00% | 5.00% |
Settlement Dates | Quarterly | Quarterly |
The contracts are with the banks granting the company credit facilities to hedge our exposure to possible increase of 	Australian interest rates. The credit risks are that of our lenders and the market risk is the cost of the cash premiums 	and/or the higher floor interest rates that we are committed to pay if Australian interest rates decline.

15.	There is no pending material litigation.

16.	Segmental Reporting:-

By industries: | Turnover | Profit/(Loss) before Taxation | Tangible Assets Employed
| RM | RM | RM
Property and other investment holding | 117,040,613 | 62,081,627 | 1,836,367,245
Hotel and catering | 2,789,382 | (412,366) | 21,440,986
Education | 19,511,303 | 5,014,558 | 47,130,731
Others | 48,908 | (2,452,235) | 313,729
| 139,390,206 | 64,231,584 | 1,905,252,691
Group’s share of associated companies results | 1,487,332 | (583,529) |
| 140,877,538 | 63,648,055 |
17.	The decline in investment income this quarter accounted for most of the reduction in the profit before taxation for the quarter reported on compared with the preceding quarter. 

18.	The Company and its principal subsidiaries benefited from the buoyant foreign markets in the first quarter that have since dampened. The Company felt that it was prudent to increase its cash and deposits with financial institutions and reduce its equity investments during the period. The equity markets have remained volatile so the Company has continued to reduce its equity investments. 
	
19. The Group’s prospects for the second half are likely to be more subdued than that of the first half. Interest income will increase in the second half but investment income will decrease. However, with the first half results already ahead of the same period last year, the current year’s prospects remain promising.    

20. None.

21. Dividend: No decision has been made on dividend.