TRANSOCEAN HOLDINGS BHD
	(36747 U)
	AND ITS SUBSIDIARIES
	QUARTERLY REPORT
	EXPLANATORY NOTES
	TO THE ACCOUNTS FOR QUARTER ENDED AUGUST 31, 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 the financial year.
	3	Extraordinary Item
		There was no extraordinary item for the current quarter and the financial year.
	4	Taxation
		Taxation comprises :-
					INDIVIDUAL QUARTER			CUMULATIVE QUARTER
					CURRENT	PRECEDING YEAR		CURRENT	PRECEDING YEAR
					RM'000	RM'000		RM'000	RM'000
		Current taxation			-	(120)		-	(120)
		Over/(Under) provision of prior year taxation			-	-		-	-
		Deferred taxation			-	-		-	-
					-	(120)		-	(120)
		There was no tax charge for the current quarter as some of the companies were in tax losses position and the availability of
		unabsorbed tax losses and unutilised capital allowances to offset taxable profits.
	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.
	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 period under review.
	8	Status of Corporate Proposal
		The Group has not proposed any corporate proposals since the beginning of this financial year.
	9	Issuances and Repayment of Debt and Equity Securities
		The Company has not issued nor repaid any debt and equity securities for the financial year to date.
	10	Group Borrowings and Debt Securities
		Total group borrowings as at Aug 31, 2002 were as follows :-
					SECURED	UNSECURED		TOTAL
					RM'000	RM'000		RM'000
		LONG TERMS BORROWINGS
			Term Loan		11,290	352		11,642
			Hire-purchase creditors		419	-		419
			Lease payables		1,690	-		1,690
					13,399	352		13,751
		SHORT TERMS BORROWINGS
			Overdraft		6,922	1,206		8,128
			Revolving Credit		2,700	3,500		6,200
			Term Loan		3,236	113		3,349
			Hire-purchase creditors		209	-		209
			Lease payables		1,178	-		1,178
					14,245	4,819		19,064
		TOTAL			27,644	5,171		32,815		-
		As at August 31, 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 October 17, 2002 (other than material litigation disclosed in Note 13)
		since the last annual balance sheet date comprise corporate guarantee of RM17.77 million and RM2.73 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 October 17, 2002.
	13	Material Litigation
		The Group is not engaged in any material litigation as at October 17, 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 registered a net loss before taxation of RM0.487 million as compared to a profit of RM0.175 million in
		the preceding quarter. The Group incurred a higher interest cost due to expansion of the container haulage fleet of
		equipment.
	16	Review Of Performance
		During the quarter under review, the Group recorded a total revenue of RM10.193 million (FY 2002 RM10.779 million)
		and a loss after taxation of RM0.487 million as compared to financial year 2002,  a loss of RM0.559 million.
		Net loss attributable to members amounted to RM0.489 million as compared to the preceding year, a loss of RM0.598
		million.  The promising results achieved in the last quarter of last financial year was not sustained due to the lower
		business activities in the domestic and international market against the backdrop of global uncertainties on worries that
		the largest economy in the world may slip to double dip recession. In addition, the tension in the Middle East has also
		added to the gloom.
	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 October 17, 2002.
	18	Seasonal or Cyclical Factors
		The business operations of the Group are not materially affected by any seasonal or cyclical factors.
	19	Current Year Prospect
		With the uncertainty in the business environment due to external factors, the Group is cautiously embarking to secure
		an improved market share of logistics services.
	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 21st day of October, 2002