UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                 SCHEDULE 13G/A

                    Under the Securities Exchange Act of 1934
                               (Amendment No. 3)*

                           PEAK INTERNATIONAL LIMITED
        -----------------------------------------------------------------
                                (Name of Issuer)

                                  Common Stock
        -----------------------------------------------------------------
                         (Title of Class of Securities)

                                    G69586108
                              --------------------
                                 (CUSIP Number)

                                December 31, 2003
        ----------------------------------------------------------------
             (Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

         / X /    Rule 13d-1(b)
         /   /    Rule 13d-1(c)
         /   /    Rule 13d-1(d)

*The  remainder of this cover page shall be filled out for a reporting  person's
initial filing on this form with respect to the subject class of securities, and
for any  subsequent  amendment  containing  information  which  would  alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the  Securities  Exchange  Act of
1934 ("Act") or otherwise  subject to the  liabilities of the section of the Act
but  shall be  subject  to all other  provisions  of the Act  (however,  see the
Notes).






                                 SCHEDULE 13G/A
                               CUSIP NO. G69586108


1.   Names of Reporting Persons.
     I.R.S. Identification Nos. of above persons (entities only).

     Quaker Capital Management Corporation
     ---------------------------------------------------------------------------

2.   Check the Appropriate Box if a Member of a Group

         (a)
                  ------
         (b)        X
                  ------

3.       SEC Use Only
                                   ---------------------------------------------

4.   Citizenship or Place of Organization                           Pennsylvania
                                                                 ---------------

Number of         5.       Sole Voting Power                                   0
  Shares                                                         ---------------
Beneficially      6.       Shared Voting Power                         1,256,830
  Owned by                                                       ---------------
Each Reporting    7.       Sole Dispositive Power                              0
    Person                                                       ---------------
     With:        8.       Shared Dispositive Power                    1,256,830
                                                                 ---------------

9.   Aggregate Amount Beneficially Owned by Each Reporting Person

     1,256,830
     ----------------

10.  Check if the Aggregate Amount in Row (9) Excludes Certain
     Shares
              --------
     The Reporting Person disclaims beneficial  ownership of  1,256,830   shares
     owned by its clients.

11.  Percent of Class Represented by Amount in Row (9)

                                                                          10.45%
                                                                  --------------

12. Type of Reporting Person                                            IA
                                                                  --------------


                               Page 2 of 6 Pages




                                 SCHEDULE 13G/A
                               CUSIP NO. G69586108


Item 1.

         (a)      Name of Issuer

                  PEAK INTERNATIONAL LIMITED
                  --------------------------------------------------------------

         (b)      Address of Issuer's Principal Executive Offices

                  Units 4, 5 and 7, 37th Floor, Warf Cable Tower,
                  9 Hoi Shing Road, Tsuen Wan, N.T., Hong Kong
                  --------------------------------------------------------------
Item 2.

         (a)      Name of Persons Filing

                  Quaker Capital Management Corporation
                  --------------------------------------------------------------

         (b)      Address of Principal Business Office or, if none, Residence

                  401 Wood Street, Suite 1300, Pittsburgh, PA  15222
                  --------------------------------------------------------------

         (c)      Citizenship

                  Pennsylvania, USA
                  --------------------------------------------------------------

         (d)      Title of Class of Securities

                  Common Stock
                  --------------------------------------------------------------

         (e)      CUSIP Number

                  G69586108
                  --------------------------------------------------------------



                               Page 3 of 6 Pages



                                 SCHEDULE 13G/A
                               CUSIP NO. G69586108

Item 3.     If   this  statement  is  filed pursuant  to   ss.ss.240.13d-1(b) or
            240.13d-2(b) or (c), check whether the person filing is a:

     (a)    / / Broker of dealer registered under section 15 of the Act;

     (b)    / / Bank as defined in section 3(a)(6) of the Act;

     (c)    / / Insurance company as defined in section 3(a)(19) of the Act;

     (d)    / / Investment company registered under section 8 of  the Investment
                Company Act of 1940;

     (e)    /X/ An investment adviser in accordance with ss.240.13d- 1(b)(l)(ii)
                (E);

     (f)    / / An employee benefit plan or endowment fund in ccordance with ss.
                240.13d-1(b)(1)(ii)(F);

     (g)    / / A parent holding  company  or  control person in accordance with
                ss.240.13d-1(b)(1)(ii)(G);

     (h)    / / A savings association as defined in Section 3(b)  of the Federal
                Deposit Insurance Act;

     (i)    / / A church  plan  that  is  excluded  from  the  definition  of an
                investment company   under section   3(c)(14)  of the Investment
                Company Act of 1940;

     (j)    / / Group, in accordance with ss.240.13d-1((b)(l)(ii)(J)

Item 4.     Ownership
            ---------

         (a)   The Reporting Person, in its capacity as investment adviser,  may
               be deemed to be the beneficial  owner of 1,256,830  shares of the
               Common Stock of the Issuer which are owned by various  investment
               advisory  clients of the Reporting  Person in accounts over which
               the Reporting Person has discretionary  authority.  The filing of
               this  report  shall not be  construed  as an  admission  that the
               Reporting  Person is, for  purposes of Section  13(d) or 13(g) of
               the Act, the beneficial owner of these securities.

         (b)   The shares covered by this report  represent 10.45% of the Common
               Stock of the Issuer.



                               Page 4 of 6 Pages


                                 SCHEDULE 13G/A
                               CUSIP NO. G69586108


         (c)   The Reporting Person has shared voting and dispositive power over
               1,256,830  shares owned by its clients and held in accounts  over
               which it has discretionary authority.

Item 5.   Ownership of Five Percent or Less of a Class

          If this  statement  is being  filed to report  the fact that as of the
date hereof,  the reporting person has ceased to be the beneficial owner of more
than five percent of the class of securities, check the following:
                                                                      ----------

Item 6.   Ownership of More than Five Percent on Behalf of Another Person

          All 1,256,830 of the shares with respect to which this report is filed
are owned by a variety of investment  advisory clients of the Reporting  Person,
which  clients are entitled to receive  dividends  on and the proceeds  from the
sale of such shares. No client is known to own more than 5% of the class.

Item 7.   Identification and Classification of the Subsidiary Which Acquired the
          Security Being Reported on by the Parent Holding Company

          Not applicable.

Item 8.   Identification and Classification of Members of the Group

          Not applicable.

Item 9.   Notice of Dissolution of Group

          Not applicable.

Item 10.  Certification

          By  signing  below I certify  that,  to the best of my  knowledge  and
belief,  the  securities  referred  to above were  acquired  and are held in the
ordinary  course  of  business  and were not  acquired  and are not held for the
purpose of or with the effect of  changing  or  influencing  the  control of the
issuer of the  securities  and were not acquired and are not held in  connection
with or as a participant in any transaction having that purpose or effect.



                               Page 5 of 6 Pages




                                 SCHEDULE 13G/A
                               CUSIP NO. G69586108


                                    SIGNATURE

          After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information  set forth in this statement is true,  complete and
correct.


                                           QUAKER CAPITAL MANAGEMENT CORPORATION


                                                   February 13, 2004
                                                   -----------------------------
                                                              Date


                                                   /s/  Mark G. Schoeppner
                                                   -----------------------------
                                                              Signature


                                                   Mark G. Schoeppner, President
                                                   -----------------------------
                                                           Name/Title






                               Page 6 of 6 Pages