TRANSOCEAN HOLDINGS BHD
	(36747 U)
	AND ITS SUBSIDIARIES
	QUARTERLY REPORT
	EXPLANATORY NOTES
	TO THE ACCOUNTS FOR QUARTER ENDED FEBRUARY 28, 2002
	1	Accounting Policies
		The accounts of the Group are prepared using the same accounting policies and method of computation
		followed in the quarterly financial statements as compared with the most recent annual audited accounts.
	2	Exceptional Item
		There was no exceptional item for the current quarter and financial year-to-date.
	3	Extraordinary Item
		There was no extraordinary item for the current quarter and financial year-to-date.
	4	Taxation
		Taxation comprises :-
					INDIVIDUAL QUARTER			CUMULATIVE QUARTER
					CURRENT	PRECEDING YEAR		CURRENT	PRECEDING YEAR
					RM'000	RM'000		RM'000	RM'000
		Current taxation			78	(84)		(207)	(475)
		Over/(Under) provision of prior year taxation			(94)	-		(99)	-
		Deferred taxation			-	-		-	-
					(16)	(84)		(306)	(475)
		Although the Group recorded a loss position, taxation is mainly provided for certain profitable subsidiary companies.
	5	Profit/loss on Sale of Unquoted Investments and/or Properties
		There was no sale of investments and/or properties by the Group for the current quarter and financial year-to-date.
	6	Quoted Securities
		There was no purchase or disposal of quoted securities by the Group for the current quarter and financial
		year-to-date.
	7	Changes in the Composition of the Group
		There were no changes in the composition of the Group for the current quarter and financial year-to-date.
	8	Status of Corporate Proposal
		The Group has not made any new corporate proposals since the completion of the following proposals :-
		a)	a bonus issue of 8,999,550 Bonus Shares on the basis of nine Bonus Share for every twenty shares
			held on a date to be determined by the Board of Directors of the Company;
		b)	to increase in the issued and paid-up capital of the Company pursuant to the proposed Bonus Issue
			and to increase its Authorised Share Capital from RM25.00 million comprising 25.00 million shares to
			RM50.00 million comprising 50.00 million shares; and
		c)	to amend the existing Articles of Association of the Company in order to comply with the Listing
			Requirements of Kuala Lumpur Stock Exchange.
	9	Issuances and Repayment of Debt and Equity Securities
		During the quarter under review, the Company increased its issued and fully paid up share capital from
		RM19,999,000 to RM28,998,550 as a result of a bonus issue of 8,999,550 ordinary shares of RM1.00 each
		on January 4, 2002.
		Save as the above issuance of equity securities, the Company has not issued nor repaid any debt and equity
		securities for the current financial year-to-date.
	10	Group Borrowings and Debt Securities
		Total group borrowings as at February 28, 2002 are as follows :-
					SECURED	UNSECURED		TOTAL
					RM'000	RM'000		RM'000
		LONG TERMS BORROWINGS
			Term Loan		10,812	381		11,193
			Bank Borrowings		-	-		-
					10,812	381		11,193
		SHORT TERMS BORROWINGS
			Term Loan		2,935	129		3,064
			Bank Borrowings		7,960	5,296		13,256
					10,895	5,425		16,320
		TOTAL			21,707	5,806		27,513		(1)
		As at February 28, 2002, the Group does not have any exposure in borrowings and debt securities denominated
		in foreign currency.
	11	Contingent Liabilities
		Contingent liabilities of the Company as at April 13, 2002 (other than material litigation disclosed in Note 13)
		since the last annual balance sheet date comprise corporate guarantee of RM14.976 million and RM3.335 million
		respectively for securing bank borrowings to subsidiaries and hire purchase/leasing facilities utilised by the
		subsidiaries.
	12	Off Balance Sheet Financial Instruments
		The Group does not have any financial instruments with off balance sheet risk as at April 13, 2002.
	13	Material Litigation
		The Group is not engaged in any material litigation as at April 13, 2002.
	14	Segmental Reporting
		Segmental analysis is not prepared as the Group activities are primarily that of a custom broker and the
		provision of trucking and transport services in Malaysia.
	15	Material Change In Profit Before Taxation Compared To The Immediate Preceding Quarter
		The Group recorded a loss before taxation of RM0.522 million as compared with a loss of RM0.542 million in the
		preceding quarter. The decrease in losses was mainly due to higher operating profit achieved during the period
		under review. However, due to the haulage division expansion program, the Group incurred higher interest cost
		and depreciation as compared with the preceding quarter.
	16	Review Of Performance
		During the quarter under review, the Group recorded a total revenue of RM9.048 million (FY 2001 RM11.344 million)
		and loss after taxation of RM0.538 million as compared with financial year 2001 which recorded a profit after taxation
		of RM0.142 million. Net loss attributable to members amounted to RM0.538 million as compared with the preceding
		year which recorded a net profit of RM0.075 million.
		The loss recorded in the first three quarters was mainly due to the overall contraction of the world economy and
		adverse second quarter performance which directly affected the Company's business activities.
	17	Material Subsequent Events
		No event of a material and unusual nature has arisen that have not been reflected in the financial statement in
		the interval between the end of the current quarter and as at April 13, 2002.
	18	Seasonal or Cyclical Factors
		The performance of the Group was generally affected also by the major festivals in this quarter, resulting in lower
		sales due to extended non-working days.
	19	Current Year Prospect
		With the overall improvement in world economy and business activities of local businesses, the Group is gearing to
		secure an improved market share of logistics services in the last quarter of the Group financial year.
	20	Variance Of Actual Profit From Forecast Profit/Shortfall In Profit Guarantee
		The Group is not involved in any profit guarantee arrangement or providing any forecast profit.
	21	Dividend
		The Directors do not recommend the payment of any dividend in respect of the current financial period.
	22	Listing Requirement Of The Minimum Paid-Up Capital
		The paid-up capital of the Company as at the date of this Report is RM28.999 million. The Directors are aware
		of the requirement to increase the paid-up capital to RM40.000 million and is pursuing this matter aggresively
		to comply with the requirement.
	By Order of the Board
	Dated April 16, 2002