RE STRONGWAYS INDUSTRIAL LTD

HCCW 459/2003

IN THE HIGH COURT OF THE

HONG KONG SPECIAL ADMINISTRATIVE REGION

COURT OF FIRST INSTANCE

COMPANIES (WINDING-UP) NO. 459 OF 2003

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J U D G M E N T

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1. This is a petition to wind up Strongways Industrial Limited ("the Company") presented by Huaxin (Hong Kong) Co. Ltd. The petition is founded on the judgment debt of US$1,700,726.21 in High Court Action No. 741 of 2002 dated 3 July 2002.

2. A Demand for the judgment debt was served on the Company on 27 February 2003. The petition herein was filed on 24 April 2003.

3. The Company's registered office was changed according to a notification of situation of registered office filed with the Companies Registry dated 22 April 2003. The petition was served on the old registered office of the Company.

4. Upon being notified by the Official Receiver of the change of the registered office, the petition was served on the new registered office on 6 June 2003. The Registrar's certificate of compliance was issued on 9 June 2003.

5. The Company has not appeared in these proceedings throughout. In the circumstances, I make a winding-up order against the Company. I further order that the petitioner's costs are to be paid out of the Company's assets.