B. I. G. INDUSTRIES BERHAD (195285-D)
(Incorporated in Malaysia)

1.	ACCOUNTING POLICIES

	The quarterly financial statements have been prepared based on accounting policies and methods of computation consistent with those adopted in the 31 December 1999 Annual Report.

2.	EXCEPTIONAL ITEM

	There were no exceptional items during the current quarter.

3.	EXTRAORDINARY ITEM

	There were no extraordinary items during the current quarter.

4.	TAXATION

	There is a provision of tax amounting to RM 18,672 in respect of current year to date.

5.	PRE-ACQUISITION PROFITS

	There is no pre-acquisition profits during the current quarter.

6.	DISPOSAL OF INVESTMENTS OR PROPERTIES

	There is no disposal of investments or properties during the current quarter.

7.	QUOTED INVESTMENTS
					
(a)	Total purchases of quoted securities by the Group are as follow:

							 	RM’000
	Total Purchase			 		    464
								=======

(b)	Investments in quoted shares as at end of reporting period are set out below:
														 						RM’000
(i)	Total investment at cost		    	     464
								=======
(ii)	Total investment at carrying
	value/book value (after 
	provision for diminution in 
	Value					 	   464
								=======
(iii)	Total investment at market value
	@ 30/09/2000					    408
								=======

(iv)	Shortfall in value (ii) – (iii)			      56
								=======

	The shortfall in value are deemed to be temporary in nature and the Directors are at the view that provision for diminution is not necessary.

8.	CHANGES IN THE COMPOSITION OF THE COMPANY

There is no change in the composition of the Company during the current quarter

9.	CORPORATED PROPOSALS

No applicable.

10.	SEASONAL OR CYCLICAL FACTORS

The business operations of the Group are not materially affected by any seasonal or cyclical factors.

11.	CHANGES IN SHARE CAPITAL

There is no movement in share capital for the current financial year to date.

12.	GROUP BORROWINGS AND DEBT SECURITIES

(a)	AMOUNT DUE TO BANKERS

	RM’000	
Overdraft – secured	6,389	
Overdraft – unsecured	4,780	
Revolving Credit – secured	       10,044	
	21,213	

(b)	TERM LOAN

	RM’000	
Portion repayable within 12 months	1,731	
Portion repayable after 12 months	6,754	
Balance outstanding	8,485	

(c )	HIRE PURCHASE CREDITORS

	RM’000	
Repayable within 12 months	596	
Repayable after 12 months	234	
Balance outstanding	830	

None of the Group’s borrowings as at the financial year to date are denominated in foreign currency.

13.	CONTINGENT LIABILITIES

	RM’000	
Corporate guarantees given to financial institutions for credit facilities provided to subsidiary and associated companies	
22,141	

14.	OFF BALANCE SHEET FINANCIAL INSTRUMENTS

No off balance sheet instruments are utilized for the current financial period under review.

15.	MATERIAL LITIGATION

There is no material litigation at the latest practicable date.

16.	SEGMENT INFORMATION

By activity

Turnover
(RM’000)		Profit/(loss) before taxation (RM’000)		Total assets employed (RM’000)	
Industrial gases, welding equipment and general trading	13,433		1,169		39,642	
Ready mixed concrete, cement products and stones	 12,140		(194)		28,630	
Transportation	   1,598		26		1,023	
	27,171		1,001		69,295	

17.	MATERIAL CHANGE IN PROFIT

Group Results	Current quarter ended 30/09/2000
RM’000		Preceding quarter ended 31/06/2000
RM’000	
Turnover	9,256		9,653	
Net Profit Before Taxation	(141)		824	

Compared to the preceding quarter, the quarter ended 30 September 2000 saw a slight decrease in turnover but net profit before taxation recorded a decrease of 117%.  The deviation in the pre-tax profit/loss recorded between the two (2) quarters is due to market competitiveness that resulted in reduction of trading margin for the industrial gas division.  In addition, the Sabah Subsidiaries experienced a higher repaired and maintenance cost during this quarter.

18.	REVIEW OF PERFORMANCE FOR THE CURRENT QUARTER

For the first nine months ended 30 September 2000, the Group recorded a pre-tax profit of RM1.00 million as compared to RM0.81 million in the corresponding period of preceding year. This improvement in profit was achieved mainly due to the better performance of the Group’s industrial gas division this year.
 
In the opinion of the Directors, the results for the Group in this quarter has not been adversely affected by any item, transaction or event of a material nature and unusual nature which has arisen between 30 September 2000 and the date of this report.

19.	CURRENT YEAR PROSPECTS

Barring any unforeseen circumstances, the Group expects better results for the financial year ended 31 December 2000 as compared to the financial year ended 31 December 1999.

20.	VARIANCES

	Not applicable as the Group is not subjected to profit guarantee

21.	DIVIDEND

No interim dividend has been declared for the period under review.