Interim Results

Hidong Estate PLC
28 December 2005

Hidong Estate PLC
(Incorporated in England)
--------------------------------------------------------------------------------

Interim Report of Shareholders
Half Year Ended 30th September, 2005

The estimated results for the half year ended 30th September, 2005 are given
below with appropriate comparative figures:-

                            Half year       Half year            Year
                                ended           ended           ended
                             30 Sept,        30 Sept,         31 Mar,
                                 2005            2004            2005
                                   RM              RM              RM
Turnover                    1,166,615         971,901       1,927,119
Cost of sales -
including replanting
Expenditure of
RM 16,688
(2004:RM15,860)             (769,850)       (644,522)     (1,379,475)
Profit                        396,765         327,379         547,644
Distribution costs           (57,357)        (44,405)        (80,532)
Administrative              (119,949)        (71,369)       (138,754)
expenses
                              219,459         211,605         328,358
Other income                    8,557           9,154          16,786
Operating Profit              228,016         220,759         354,144
Tangible fixed assets               -               -             (1)
written off
Interest receivable on              -           6,575          25,833
short term deposits
Profit on ordinary
activities
before taxation and           
extraordinary items           228,016         227,334         370,976
Tax on profit on                    -               -        (81,397)
ordinary activities
RETAINED PROFIT AFTER
TAXATION BUT BEFORE
EXTRAORDINARY ITEMS           228,016         227,334         289,579
Extraordinary items
PROFIT ATTRIBUTABLE
TO SHAREHOLDERS               228,016         227,334         289,579
Earnings per 10p share      13.31 sen       13.27 sen       16.90 sen

STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES

The Company has no recognised gains and losses other than the gain of RM228,016
for the six months period ended 30th September, 2005 (2004: gain RM227,334).

Notes:

1.      The Company reported an operating profit of RM228,016 for the half year
ended 30th September, 2005. This profit, as compared to a profit RM220,759 for 
the corresponding period, was attributed to increase in yield of Oil Palms and 
rubber price.

2.      The directors do not propose to pay any interim dividend (last year -
nil)

3.      The Estate is expected to continuous increase in production with
improvement in inputs to the existing planted area and higher percentage of 
maturing palms. The Company is expected to improve in its performance for the 
second half.

4.      Further to the announcement on 14th October 2005 pertaining to the
proposed disposal of the Company's land, the directors announces that the 
approval from the Estate Land Board being one of the requisite approvals 
attendant to the sale has been obtained. The Company shall be calling for an 
Extraordinary General Meeting to seek shareholders' approval with regards
to the proposed disposal as soon as practical.

5.      A copy of this report will be sent to shareholders and will be available
for inspection at the Company's registered office, 34 Beckenham Road, Beckenham,
Kent, BR3 4TU.

                                               CHEW SING GUAN
Penang                                             Chairman
27th December 2005

Balance Sheet
as at 30th September, 2005
                                  Half year          Half year          Year
                                      ended              ended         ended
                                   30 Sept,           30 Sept,       31 Mar,
                                       2005               2004          2005
                                         RM                 RM            RW
FIXED ASSETS
Tangible assets                   7,662,491          7,619,941     7,677,932

CURRENT ASSETS
Stocks                              121,278            220,750       152,907
Debtors                             348,787            233,415       218,413
Cash at bank and in hand          1,061,871            843,360     1,014,913
Tax refundable                       38,886             42,317           204
                                  1,570,822          1,339,842     1,386,437
CURRENT LIABILITIES
Creditors : Amounts falling
due within one
Year                              (262,027)          (281,254)     (315,543)
NET CURRENT ASSETS                1,308,795          1,058,588     1,070,894

TOTAL ASSETS LESS
CURRENT LIABILITIES               8,971,286          8,678,529     8,748,826
PROVISION FOR LIABILITIES
AND CHARGES                       (557,630)          (555,134)     (563,186)
NET ASSETS                       8,413,656          8,123,395     8,185,640

CAPITAL AND RESERVES
Called up share capital           1,067,846          1,067,846     1,067,846
Revaluation reserve               5,832,048          5,832,048     5,832,048
Profit and loss account           1,513,762          1,223,501     1,285,746
TOTAL EQUITY SHAREHOLDERS'
FUNDS                             8,413,656          8,123,395     8,185,640

These financial statements were approved by the Board of Directors on 27th
December 2005.

CHEW SING GUAN           )
                         )
                         ) Directors
ZAMBRI BIN HAJI MAHMUD   )

Reconciliation of Operating (Loss) / Profit to Net Cash outflow from Operating
Activities
                                                Half year Half year     Year
                                                    ended     ended    ended
                                                 30 Sept,  30 Sept,  31 Mar,
                                                     2005      2004     2005
                                                       RM        RM       RM
Operating profit                                  228,016   220,759  345,144
Depreciation charge                                15,441    12,232   32,239
Provision for service gratuity benefits           (5,556)         -    8,052
(Increase) / Decrease in stocks                    31,629 (130,111) (62,267)
(increase) / Decrease in debtors                (130,374)  (24,329)  (9,327)
Increase/(Decrease) in creditors                 (53,516)    59,278   93,567
                                                   85,640   137,829  407,408

Cash flow statement for the Half year 
Ended 30th September, 2005

                                                 Half year Half year      Year
                                                     ended     ended     ended
                                                  30 Sept,  30 Sept,   31 Mar,
                                                      2005      2004      2004
                                                        RM        RM        RM
NET CASH INFLOW/(OUTFLOW)
OPERATING ACTIVITIES                                85,640   137,829   407,408

RETURNS ON INVESTMENTS AND SERVICING OF FINANCE
Interest received                                        -     6,575    25,833

TAXATION
Overseas tax paid                                 (38,682)  (34,737)  (74,021)
Tax refund                                               -    43,140    43,140
                                                  (38,682)     8,403     9,575
CAPITAL EXPENDITURE
Sale of fixed assets                                     -         -         -
Purchase of tangible fixed assets                        -     (230)  (78,230)
                                                         -     (230)  (78,230)

NET CASH INFLOW/ (OUTFLOW)
BEFORE MANAGEMENT OF
LIQUID RESOURCES                                    46,958   152,577   324,130

MANAGEMENT OF LIQUID RESOURCES
(Increase)/Decrease in short term deposits          50,000 (100,000) (420,000)
INCREASE/(DECREASE) IN CASH                         96,958    52,577  (95,870)




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