As filed with the Securities and Exchange Commission on March 31, 2004


                                         Registration Statement No. 333-110071
-------------------------------------------------------------------------------
===============================================================================
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                              --------------------
                                 AMENDMENT NO. 3
                                       TO
                                    FORM F-1


             REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
                              --------------------
                         Apex Wealth Enterprises Limited
             (Exact name of Registrant as specified in its charter)


British Virgin Islands           8741                          Not Applicable
(State or other           (Primary Standard Industrial        (I.R.S. Employer
  jurisdiction of           Classification Code Number)     Identification No.)
incorporation or
 organization)


                            Room 3505-06, 35th Floor
                          Edinburgh Tower, The Landmark
                       15 Queen's Road Central, Hong Kong
                                 (852) 2736-2111

   (Address and telephone number of Registrant's principal executive offices)
                              --------------------

                        NATIONAL REGISTERED AGENTS, INC.
                           875 Avenue of the Americas,
                       Suite 501 New York, New York 10001
                                 1-800-550-6724
           (Name, address, and telephone number of agent for service)
                              --------------------

                                   Copies to:

    Simon C. Luk, Esq.                          Stephen M. Davis, Esq.
 Heller Ehrman White & McAuliffe LLP        Heller Ehrman White & McAuliffe LLP
   35th Floor, One Exchange Square               120 West 45th Street
      8 Connaught Place                         New York, New York 10036
     Central, Hong Kong                            212-832-8300
     011-852-2292-2000

                              --------------------
     Approximate date of commencement of proposed sale to the public: As soon as
practicable after this registration statement becomes effective.

     If any of the securities  being registered on this Form is to be offered on
a delayed or continuous  basis  pursuant to Rule 415 under the Securities Act of
1933, check the following box. [ ]

     If this Form is filed to  register  additional  securities  for an offering
pursuant to Rule 462(b) under the Securities Act, please check the following box
and list  the  Securities  Act  registration  statement  number  of the  earlier
effective registration statement for the same offering. [ ]

     If this Form is a  post-effective  amendment  filed pursuant to Rule 462(c)
under the  Securities  Act,  check the following box and list the Securities Act
registration statement number of the earlier effective registration statement of
the same offering. [ ]

     If delivery of the  prospectus is expected to be made pursuant to Rule 434,
please check the following box. [ ]


                         CALCULATION OF REGISTRATION FEE

                                                                                                            

----------------------------------------------- ---------------------- ----------------------- ------------------ -----------------
           Title of Each Class of                   Amount to be          Proposed Maximum      Proposed Maximum        Amount of
         Securities to be Registered                 Registered            Offering Price          Aggregate       Registration Fee
                                                                           Per Share (1)         Offering Price
----------------------------------------------- ---------------------- ----------------------- ------------------ -----------------
----------------------------------------------- ---------------------- ----------------------- ------------------ -----------------
Common Stock, par value $0.01 per share               2,000,000                $0.05                $100,000             $810
----------------------------------------------- ---------------------- ----------------------- ------------------ -----------------


(1) Estimated solely for the purpose of calculating the amount of the
registration fee pursuant to Rule 457(c) under the Securities Act of 1933

     THE REGISTRANT  HEREBY AMENDS THIS  REGISTRATION  STATEMENT ON SUCH DATE OR
DATES AS MAY BE NECESSARY TO DELAY ITS EFFECTIVE DATE UNTIL THE REGISTRANT SHALL
FILE A FURTHER  AMENDMENT  WHICH  SPECIFICALLY  STATES  THAT  THIS  REGISTRATION
STATEMENT SHALL  THEREAFTER  BECOME EFFECTIVE IN ACCORDANCE WITH SECTION 8(a) OF
THE  SECURITIES  ACT OF 1933 OR UNTIL THE  REGISTRATION  STATEMENT  SHALL BECOME
EFFECTIVE  ON SUCH  DATE  AS THE  SECURITIES  AND  EXCHANGE  COMMISSION,  ACTING
PURSUANT TO SAID SECTION 8(a), MAY DETERMINE.

===============================================================================



     THE INFORMATION IN THIS PROSPECTUS IS NOT COMPLETE AND MAY BE CHANGED. WE
MAY NOT SELL THESE SECURITIES UNTIL THE REGISTRATION STATEMENT FILED WITH THE
SECURITIES AND EXCHANGE COMMISSION IS EFFECTIVE. THIS PROSPECTUS IS NOT AN OFFER
TO SELL THESE SECURITIES AND IT IS NOT SOLICITING AN OFFER TO BUY THESE
SECURITIES IN ANY STATE WHERE THE OFFER OR SALE IS NOT PERMITTED.


                              Subject to Completion
                 Preliminary Prospectus dated April ___, 2004


                                   PROSPECTUS

                        2,000,000 Shares of Common Stock

                         APEX WEALTH ENTERPRISES LIMITED

                                ---------------

     Apex Wealth  Enterprises  Limited (the "Company"),  is a development  stage
company  established in the British Virgin Islands  ("BVI") on April 8, 2002. We
are offering  2,000,000 new shares of our common stock, par value $0.01 each for
sale to the public at an offering price of $0.05 per common share.  The offering
will close no later than 90 days after the date of this prospectus. There are no
underwriters  involved  in the selling of our common  shares.  We will pay sales
commissions of up to 10% to registered broker-dealers willing to sell our common
shares.  The common shares are being offered by us on a "best efforts no minimum
basis." There is no minimum  purchase  requirement  and no arrangements to place
funds  in an  escrow,  trust  or  similar  account.  The net  proceeds  from the
anticipated sale of the common shares will be for our benefit.


     This is our initial public offering,  and no public market currently exists
for the common  shares.  Prior to this offering  there has been no public market
for our shares of common stock, and there can be no assurance that such a public
market will develop or be sustained after this offering is completed. Our common
stock is not listed on any  securities  exchange or the Nasdaq Stock Market.  We
intend to apply to have our common stock  included for quotation on the Over the
Counter Bulletin Board ("OTCBB").

     We have  arbitrarily  determined  the  offering  price of $0.05  per  share
offered hereby.  The offering price bears no  relationship  to our assets,  book
value, or any other customary investment criteria.

 Investing in our common stock involves risks that are described in the "Risk
Factors" section beginning on page 3 of this prospectus.

                                 ---------------

                                                                               

---------------------- --------------------------- --------------------------- ---------------------------
                       Offering Price              Underwriting Discounts      Proceeds to us (2)
                       and Commissions (1)
---------------------- --------------------------- --------------------------- ---------------------------
---------------------- --------------------------- --------------------------- ---------------------------
Per share                        $0.05                         --                        $0.05
---------------------- --------------------------- --------------------------- ---------------------------
---------------------- --------------------------- --------------------------- ---------------------------
TOTAL OFFERING (3)              $100,000                       --                       $100,000
---------------------- --------------------------- --------------------------- ---------------------------

----------------------------------------------------------------------------------------------------------


         Neither the Securities and Exchange Commission nor any state securities
commission has approved or disapproved of the securities or passed upon the
adequacy or accuracy of this prospectus. Any representation to the contrary is a
criminal offense.

                                 ---------------


               The date of this prospectus is April __, 2004






                                [Back Cover Page]

     You should rely only on the information  contained in this  prospectus.  We
have not authorized any other person to provide you with different  information.
If anyone  provides you with different or inconsistent  information,  you should
not rely on it.  We are not  making  an offer to sell  these  securities  in any
jurisdiction  where the offer or sale is not  permitted.  You should assume that
the information  appearing in this prospectus is accurate only as of the date on
the front cover of this prospectus. Our business,  financial condition,  results
of operation and prospects may have changed since that date.

         The terms "we," "us," and "our" mean Apex Wealth Enterprises Limited.

         Except where specifically indicated in this prospectus, "dollars"
and"$" mean United States dollars.

         Until __________, 2004 (90 days after the commencement of this
offering), all dealers that effect transactions in these securities, whether or
not participating in this offering, may be required to deliver a prospectus.
This is in addition to the dealer's obligation to deliver a prospectus when
acting as underwriters and with respect to their unsold allotments or
subscriptions.





                                TABLE OF CONTENTS

PROSPECTUS SUMMARY.......................................................1
RISK FACTORS.............................................................3
FORWARD-LOOKING STATEMENTS...............................................7
ENFORCEABILITY OF CIVIL LIABILITIES......................................7
USE OF PROCEEDS..........................................................7
DETERMINATION OF OFFERING PRICE..........................................8
DIVIDEND POLICY..........................................................9
SELLING SHAREHOLDERS.....................................................9
PLAN OF DISTRIBUTION.....................................................9
EXCHANGE RATE............................................................9
CAPITALIZATION AND INDEBTEDNESS.........................................11
DILUTION................................................................12
SELECTED FINANCIAL INFORMATION..........................................13
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS...............................................14
BUSINESS................................................................15
MANAGEMENT..............................................................19
RELATED PARTY TRANSACTIONS..............................................20
PRINCIPAL SHAREHOLDERS..................................................20
DESCRIPTION OF COMMON STOCK.............................................21
MEMORANDUM AND ARTICLES OF ASSOCIATION..................................22
TAXATION................................................................26
SHARES ELIGIBLE FOR FUTURE SALE.........................................27
LEGAL MATTERS...........................................................28
DISCLOSURE OF COMMISSION POSITION ON INDEMNIFICATION FOR
SECURITIES ACT LIABILITIES..............................................28
EXPERTS.................................................................28
ADDITIONAL INFORMATION..................................................28
INDEX TO FINANCIAL STATEMENTS...........................................F-1

                              --------------------






                               PROSPECTUS SUMMARY

     This summary may not contain all of the  information  that may be important
to you. You should read the entire  prospectus,  especially  the  discussion  of
"Risk Factors" and the  consolidated  financial  data and related notes,  before
making an investment decision.

                         Apex Wealth Enterprise Limited


     We are a  development  stage  company  incorporated  in the BVI on April 8,
2002.  As of the date of this  prospectus,  our only  activities  have  been our
organization,  raising our initial  capital,  developing a general business plan
and preparing  this  registration  statement.  On September 18, 2003, we filed a
registration  statement  with no specific  business  plan and for the purpose of
creating a public shell that would attempt a business  combination  with another
company  possessing a business history and operating assets. We have not engaged
in any substantive  business  activities to date. We are not, nor do we consider
ourselves,  a "blank check"  company as that term is defined in SEC Rule 419 and
we have no intention of entering  into a business  combination  in the immediate
future.

     We aim to provide business advisory and management  consulting  services in
greater China,  initially  concentrating  on the Hong Kong market and eventually
expanding into the People's  Republic of China  ("China").  Our focus will be on
small to medium size enterprises  ("SMEs"), in Hong Kong and China. We intend to
work closely with our clients to improve their  business  performance,  increase
shareholder value and create competitive advantages.


     We intend to offer  business  advisory and management  consulting  services
which will include  strategic  advisory  services,  business  plan  preparation,
marketing plan development, advice on mergers, acquisitions,  restructurings and
the sales of businesses,  and advising overseas investors on investments in Hong
Kong and China.

     We believe that there will be a strong demand for our services based on the
number of SMEs established and expected to be established in Hong Kong and China
and the government  support given to those SMEs.  Additionally,  we believe that
the  expected  increased  foreign  investment  in  China  coupled  with  China's
accession into the World Trade  Organization  ("WTO") will generate  substantial
business opportunities for our services.


     Our principal  executive offices are located at Rooms 3505-06,  35th Floor,
Edinburgh Tower, The Landmark,  15 Queen's Road Central,  Hong Kong, SAR and our
telephone number is (852) 2736-5511.


                                  The Offering


     We are  offering  2,000,000  new shares of common  stock to the public at a
price of $0.05 per share.  The common stock will be sold on a "best efforts,  no
minimum basis". There are no underwriters  involved in the selling of our common
shares. We will pay a sales commission of up to 10% to registered broker-dealers
willing to sell our common shares.  There is no minimum purchase requirement and
no arrangements to place funds in an escrow,  trust or similar  account.  As the
funds are raised,  they will be made  available  to us for our use.  There is no
minimum  amount of funds  which  must be raised by us before  the funds are made
available to us. The offering will close no later than 90 days after the date of
this prospectus.

                                 Use of Proceeds

     We will receive the proceeds of the sale of the common stock.  We expect to
receive an aggregate of up to $100,000 in gross proceeds from this offering, and
we expect to pay  approximately  $24,000 in out-of-pocket  costs and expenses in
connection  with this  offering.  The net proceeds which we receive will be used
for our general  operating  expenses,  the drafting of a comprehensive  business
plan,  recruiting  and  hiring  experienced  business  advisors  and  management
consultants and marketing and advertising.



                                       1


                          Summary Financial Information

     The following table presents summary information on our financial condition
and  results of  operations  as of May 31, 2003 and for the period from April 8,
2002  (inception)  through May 31, 2003.  It also  presents  unaudited pro forma
financial  information which has been prepared as if this offering has occurred.
The Summary Financial  Information is qualified in its entirety by our financial
statements contained elsewhere in this prospectus.

                                                                         As of
                                                                  May 31, 2003
Statement of operations
Revenues                                                                     0
Net Loss                                                              $(4,072)
Net Loss Per Share                                                       $0.00
Common Stock outstanding                                            10,000,000
                                                          ---------------------

Balance Sheet Date                                 As of       Pro Forma After
                                            May 31, 2003         this Offering

Current Assets                                  $100,256              $100,256

Total Assets                                    $100,256              $100,256

Total Liabilities                                 $4,328               $28,328

Shareholders' Equity                             $95,928               $71,928

     ============== ============            ==============        =============


                                       2


                                  RISK FACTORS

     An  investment  in our common  stock  involves a high  degree of risk.  You
should  carefully  consider  the risks  described  below and  elsewhere  in this
prospectus  before  deciding to purchase our common stock.  The risks  described
below  are not the  only  ones  that we face.  Any of the  following  risks  may
materially and adversely affect our business,  financial condition or results of
operations.  The price of our common  stock  could  decline as a result of these
risks,  and you could lose all or part of your investment.  Additionally,  as we
are a company  incorporated under BVI laws having its principal business in Hong
Kong,  there are risks associated with investing in our common stock not typical
of investments in the securities of companies incorporated and doing business in
the United States.


     WE HAVE NOT  COMMENCED  OPERATIONS  AND ARE IN THE EXTREME  EARLY STAGES OF
DEVELOPMENT  AND IF WE FAIL TO DEVELOP OUR  BUSINESS  YOU COULD LOSE YOUR ENTIRE
INVESTMENT


     We were  incorporated  on April 8,  2002  and  have not yet  commenced  our
proposed  business  operations  or realized any  revenues.  We have no operating
history  upon which an  evaluation  of our future  prospects  can be made.  Such
prospects  must be considered in light of the  substantial  risks,  expenses and
difficulties  encountered by new entrants into the competitive business advisory
and management  consulting  industry.  We are in the extreme early stages of our
development and could fail before  implementing  our business plan. We expect to
incur operating losses in future periods for the foreseeable  future as we incur
significant  expenses  associated  with developing our business in Hong Kong and
China.  We cannot  guarantee that we will be successful in realizing  revenue or
achieving or sustaining  positive cash flow in the future,  and any such failure
could have a material  adverse effect on our business,  financial  condition and
results of operations and you could lose your entire investment.


     OUR SUCCESS DEPENDS ON ATTRACTING AND RETAINING  QUALIFIED  EMPLOYEES,  THE
FAILURE OF WHICH COULD RESULT IN A MATERIAL DECLINE IN OUR REVENUES


     We are a  professional  services  company and our success and future growth
depends on our ability to attract and retain qualified employees  throughout our
business,  and in  particular,  experienced  business  advisors  and  management
consultants.  This  is  especially  relevant  as most  of our  revenues  will be
generated from the professional  services  provided by our business advisors and
consultants.   Competition  for  qualified   business  advisors  and  management
consultants in Hong Kong and China is intense. We will compete for our employees
with many other companies,  some of which will have greater  financial and other
resources. We may have difficulty recruiting and retaining sufficient numbers of
qualified  personnel,  which could result in a material decline in our revenues.
In addition, increased compensation levels could materially and adversely affect
our financial condition or results of operations.


     WE DEPEND ON THE  SERVICES OF A LIMITED  NUMBER OF  PERSONNEL  WHO WOULD BE
DIFFICULT TO REPLACE,  AND IF NOT REPLACED COULD MATERIALLY AND ADVERSELY IMPACT
OUR PROFITABILITY


         Our success depends significantly on the continued services of our
senior management. In particular, our success depends on the continued efforts
of Mr. Li Sze Tang, our Chief Executive Officer and Chairman of the Board of
Directors, and Mr. Wilson Cheung, our Chief Financial Officer and one of our
Directors. Mr. Li and Mr. Cheung have significant contacts with the Hong Kong
business community and are crucial for our business development. Currently, we
do not have any employment agreements with Mr. Li or Mr. Cheung and both may
choose to leave our employment at any time. Additionally, neither Mr. Li or Mr.
Cheung has entered into a non-compete or confidentiality agreement with us.
Finally, we do not carry key-man life insurance policies for either Mr. Li or
Mr. Cheung. There can be no assurance that either Mr. Li or Mr. Cheung will
continue in their present capacities for any particular period of time. The loss
of the services of Mr. Li or Mr. Cheung could materially and adversely affect
our ability to attract clients and to employ and retain qualified business
advisors and consultants which would have an adverse impact on our
profitability.


     OUR BUSINESS  STRATEGIES MAY NOT BE SUCCESSFUL,  WHICH WOULD MATERIALLY AND
ADVERSELY IMPACT ON OUR FINANCIAL CONDITION


     A key  element of our  strategy is  dependant  on the ability of our senior
management to identify the business  advisory needs of our  prospective  clients
and developing  business  connections.  Future growth will also depend

                                       3


upon  many  other  factors,  including  (a) the  recruitment  and  retention  of
qualified business and management consultants and other professional  personnel;
(b) the development of a solid client base; (c) the successful  marketing of our
professional  services and (d) the formation of business  alliances in Hong Kong
and China.  If any one or more of our strategic  elements are not achieved,  our
financial  condition or results of operations  could be materially and adversely
affected.


MR. LI SZE TANG, A CURRENT STOCKHOLDER, WILL BE ABLE TO EXERCISE SUBSTANTIAL
CONTROL AFTER THIS OFFERING AND YOU WILL HAVE NO EFFECTIVE IN DECISIONS MADE BY
THE BOARD OF DIRECTORS


     In the event the offering is fully  subscribed to, Mr. Li Sze Tang will own
approximately 83.33% of the outstanding shares of our common stock. As a result,
he will have the ability to exercise substantial control over our affairs and to
elect a sufficient number of directors to control the board of directors. If you
invest in us, you will have no effective voice in decisions made by our board of
directors.


     THIS IS OUR INITIAL  PUBLIC  OFFERING  AND OUR COMMON  STOCK HAS NEVER BEEN
PUBLICLY TRADED, INVESTORS MAY FACE DIFFICULTIES SELLING THEIR SHARES


     There has been no public market for our common  stock.  We plan to apply to
have our common stock quoted on the OTCBB;  however,  no assurance  can be given
that a market for our common stock will develop or that our common stock will be
quoted  on  OTCBB.  Even if our  common  stock is  eventually  quoted  on OTCBB,
sustaining  a public  trading  market  will  require,  among other  things,  the
participation of a qualified market maker who is willing to make a market in our
common  stock.  To date,  no market  maker has  expressed  any  interest  in our
Company.  No  assurance  can be given that any  market  making  activities  will
commence or, if commenced, that they will continue. Investors may therefore have
difficulties selling their shares.

     BECAUSE  OUR  SECURITIES  ARE SUBJECT TO PENNY  STOCK  RULES,  YOU MAY HAVE
DIFFICULTY RESELLING YOUR SHARES

     Our shares as penny stocks are covered by Section  15(g) of the  Securities
Exchange Act of 1934 which imposes  additional  sales practice  requirements  on
broker/dealers  who  sell  the  our  securities  including  the  delivery  of  a
standardized  disclosure  document;  disclosure  and  confirmation  of quotation
prices;  disclosure of compensation the broker/dealer  receives; and, furnishing
monthly account statements.  For sales of our securities, the broker/dealer must
make a special suitability determination and receive from its customer a written
agreement  prior to making a sale.  The  imposition of the foregoing  additional
sales practices could adversely affect a shareholder's ability to dispose of his
shares.


     WE MAY NEED  ADDITIONAL  CAPITAL TO FUND OPERATIONS AND FINANCE OUR GROWTH,
AND WE MAY NOT BE ABLE TO  OBTAIN  IT ON TERMS  ACCEPTABLE  TO US OR AT ALL,  IN
WHICH CASE WE MAY BE UNABLE TO FIND ONGOING OPERATIONS

     We believe  that the net  proceeds  of  approximately  US$76,000  from this
offering,  together with our existing  assets will be sufficient to commence our
business  operations  and  initiate  our  expansion as described in our business
plan. However, if we expand more rapidly than currently anticipated, our working
capital  needs will exceed our current  expectations,  and we will need to raise
additional capital from equity or debt sources. If we cannot obtain financing on
terms acceptable to us or at all, we may be unable to fund ongoing operations.


     IF WE ARE NOT ABLE TO EXPAND OUR  BUSINESS IN CHINA,  WE MAY NOT BE ABLE TO
COMPETE EFFECTIVELY


     We expect  to  expand  our  business  client  base and be able to offer our
services in China. This expansion will require significant  management attention
and  financial  resources.  Our  ability to expand our  services  into the China
markets  will be limited by our  ability  to market  to,  and  attract,  Chinese
clients.  Accordingly,  we  expect to commit  substantial  time and  development
resources to developing  the China market.  These efforts may not be successful,
and we may not be able to compete effectively in that market.


     CHANGES  IN HONG  KONG'S  POLITICAL  AND LEGAL  CONDITIONS  COULD  HARM OUR
BUSINESS OPERATIONS

     Most of our assets and our initial  business  will be in Hong Kong,  and we
will conduct most of our business  activities there. As a result, our results of
operations and financial condition may be especially influenced by the

                                       4


political  situation  in Hong  Kong and by the  general  state of the Hong  Kong
economy.  Hong Kong is a special  administrative region of China, but it has its
own legislature,  legal and judicial system and economic autonomy until the year
2047. We do not expect that this autonomy will be altered.  However, any changes
in  political,  legal or other  conditions  in Hong Kong  altering this autonomy
could have an adverse effect on our business operations and our revenue.


A REOCCURRENCE OF THE SEVERE ACUTE RESPIRATORY SYNDROME OUTBREAK MAY LEAD TO A
DECLINE IN OUR CLIENT BASE AND ADVERSELY IMPACT OUR REVENUES


     This past summer Hong Kong and most of Asia  suffered an outbreak of Severe
Acute Respiratory  Syndrome  ("SARs"),  and Hong Kong's economy suffered greatly
because of this outbreak.  The economic forecasts of SARs' impact on Hong Kong's
GDP growth range widely,  however, nearly all agree that SARs will have at least
0.5 percentage point off Hong Kong's  originally  projected growth for 2003 with
some economists putting this figure as high as 1.3 percentage point.  During the
SARs' outbreak,  a number of multinational  companies decided to establish their
headquarters  in other  parts of Asia,  rather  than Hong Kong.  In the event of
another SARs' outbreak,  our client base may decline which would have an adverse
impact on our revenues.  There can be no assurance  that another SARs'  outbreak
will not occur or that if it does  occur,  it will not have a material  negative
impact on the Hong Kong and China economies and our revenues.

     CHINA'S LEGAL SYSTEM HAS  UNCERTAINTIES  WHICH COULD HARM OUR JOINT VENTURE
INTERESTS IN CHINA

     A number of our  future  business  projects  and plans are  expected  to be
located in China. As a consequence,  the economic,  political,  legal and social
conditions  in China could have an adverse  effect on our  business,  results of
operations and financial condition. The legislative trend in China over the past
decade has been to enhance the  protection  afforded to foreign  investment  and
allow  for  more  active  control  by  foreign   parties  of  foreign   invested
enterprises.  There can be no  assurance,  however,  that  legislation  directed
towards  promoting foreign  investment will continue.  More restrictive rules on
foreign  investment  could adversely affect our ability to expand our operations
into China or repatriate any profits earned there.

     RESTRICTIONS  ON  CURRENCY  EXCHANGE  MAY LIMIT OUR  ABILITY TO UTILIZE OUR
REVENUES EFFECTIVELY

     Although  the  Chinese  government  introduced  policies  in 1996 to  allow
greater  convertibility  of  the  Renminbi,  the  unit  of  currency  in  China,
significant  restrictions  still  remain.  We can provide no assurance  that the
Chinese government will not impose greater restrictions on the convertibility of
the  Renminbi.  Because  some  of our  future  revenues  may be in the  form  of
Renminbi, any future restrictions on currency exchanges may limit our ability to
expand our business into the Chinese  market which may have an adverse impact on
our future financial condition.


     WE HAVE LIMITED REPORTING REQUIREMENTS UNDER THE SECURITIES EXCHANGE ACT OF
1934, WHICH MAKES US LESS TRANSPARENT THAN A U.S. ISSUER


     As a foreign private issuer, the rules and regulations under the Securities
Exchange Act of 1934 provides us with certain exemptions. We are exempt from the
rules  prescribing  the  furnishing  and  content of proxy  statements,  and our
officers, directors and principal stockholders are exempt from the reporting and
short-swing  profit  recovery  provisions.  Also, we are not required to publish
financial  statements  as  frequently,   as  promptly  or  containing  the  same
information  as  United  States  companies.  The  result is that we will be less
transparent than a U.S. issuer.

     OUR OFFERING PRICE IS SUBSTANTIALLY  HIGHER THAN THE NET ASSET VALUE OF OUR
COMMON STOCK AND THEREFORE THERE WILL BE AN IMMEDIATE AND  SUBSTANTIAL  DILUTION
TO NEW INVESTORS IN THIS OFFERING

     The initial  public  offering  price is  substantially  higher than the pro
forma net  tangible  book value per share of our common  stock  based on the pro
forma net  tangible  book value per share of what the  outstanding  common share
will be  immediately  after the offering.  Any common shares you purchase in the
offering will have a  post-offering  pro forma net tangible book value per share
of  $0.0357  less than the price you paid for the  share,  assuming  an  initial
public offering price of $0.05 per share of common stock.

                                       5


     EARNINGS,  IF ANY,  WILL BE RETAINED AND WE WILL NOT PAY  DIVIDENDS FOR THE
FORESEEABLE FUTURE

     We anticipate  that earnings,  if any, will be retained for the development
of our business and that no cash  dividends will be declared on our common stock
for the foreseeable future.

     WE ARE A BVI COMPANY AND OUR OFFICERS AND DIRECTORS  RESIDE  OUTSIDE OF THE
UNITED  STATES,  THEREFORE,   CERTAIN  JUDGMENTS  OBTAINED  AGAINST  US  BY  OUR
SHAREHOLDERS MAY NOT BE ENFORCEABLE IN THE BVI

     We are a BVI company.  All of our officers and directors  reside outside of
the  United  States.  All or  substantially  all of our assets and the assets of
these persons are located outside of the United States.  As a result, it may not
be possible for investors to effect  service of process within the United States
upon us or such  persons or to enforce  against us or these  persons  the United
States  federal  securities  laws,  or to enforce  judgments  obtained in United
States  courts  predicated  upon the civil  liability  provisions of the federal
securities  laws of the United States,  including the Securities Act of 1933 and
the Securities Exchange Act of 1934. See "Enforcement of Civil Liabilities."


OUR OFFERING IS ON A "BEST EFFORTS, NO MINIMUM" BASIS AND A SUBSTANTIAL
PERCENTAGE OF THE OFFERING  PROCEEDS MAY BE USED TO PAY FOR THE EXPENSES OF THIS
OFFERING AND NOT FOR OUR BUSINESS OPERATIONS


     This is a "best  efforts,  no  minimum"  offering,  in which the  directors
through registered broker-dealers will use their best efforts to sell the common
stock that we are offering. As a result, there is no firm commitment to sell any
minimum number of shares or dollar amount.  To the extent we sell  significantly
less  than  the  total  number  of  shares  that we are  offering  through  this
prospectus,  you may be one of only a small  number  of  investors  or the  only
investor and a substantial percentage of the offering proceeds may be use to pay
for the  offering  expenses  and not to further our  business  or  initiate  our
business plan.



                                       6





                           FORWARD-LOOKING STATEMENTS

     This prospectus includes forward-looking  statements that include risks and
uncertainties.   We  use  words  such  as  "anticipates,"  "believes,"  "plans,"
"expects,"   "future,"  "intends"  and  similar  expressions  to  identify  such
forward-looking   statements.  This  prospectus  also  contains  forward-looking
statements  attributed  to certain  third  parties  relating to their  estimates
regarding the operation and growth of our business and spending.  You should not
place undue reliance on these forward-looking statements, which apply only as of
the date of this prospectus.  We have based these forward-looking  statements on
our current expectations and projections about future events.

         The forward-looking statements included in this prospectus are also
subject to risks, uncertainties and assumptions about us. Our actual results of
operations may differ materially from the forward-looking statements as a result
of, among other things, lack of demand for our business advisory and consulting
services, increased competition and the inability to recruit experienced
consultants and the other risk factors described under "Risk Factors." We
undertake no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise.
In light of these risks, uncertainties and assumptions, the forward-looking
events discussed in this prospectus might not occur.

                       ENFORCEABILITY OF CIVIL LIABILITIES

     We are a BVI company.  All of our officers and directors  reside outside of
the  United  States.  All or  substantially  all of our assets and the assets of
these persons are located outside of the United States.  As a result, it may not
be possible for investors to effect  service of process within the United States
upon such  persons or us or to enforce  against us or these  persons  the United
States  federal  securities  laws,  or to enforce  judgments  obtained in United
States  courts  predicated  upon the civil  liability  provisions of the federal
securities  laws of the United States,  including the Securities Act of 1933 and
the  Securities  Exchange Act of 1934.  We have been advised by our BVI counsel,
Conyers  Dill & Pearman,  that civil  liabilities  predicated  solely  upon such
securities  laws,  whether in original  actions or in actions for enforcement of
judgments of United States  courts,  may not be  enforceable in the BVI. We have
appointed  National  Registered  Agents,  Inc., 875 Avenue of the Americas,  New
York, New York,  10011 as our agent to receive  service of process in the United
States.

                                 USE OF PROCEEDS

     We will receive the proceeds of the sale of the common stock.  We expect to
receive an aggregate of up to $100,000 in gross proceeds from this offering, and
we expect to pay  approximately  $24,000 in out-of-pocket  costs and expenses in
connection  with this  offering.  The net proceeds which we receive will be used
for our general  operating  expenses,  the drafting of a comprehensive  business
plan,  recruiting  and  hiring  experienced  business  advisors  and  management
consultants and marketing and advertising. There are no minimum requirements for
the sale of our common stock.  There are no minimum amounts of proceeds that are
required to be raised by us before  funds are made  available to us, nor are any
funds to be held in escrow.  The following  table shows how we intend to use the
funds raised assuming the offering is completely subscribed for.

                                                Amount to       Percentage of
Use of Proceeds                              be Spent            Total Proceeds

Expenses of this offering                      $24,000               24%
Recruiting consultants                         $40,000               40%
General Operating Expenses                     $16,000               16%
Advertising, Market Research Seminars          $10,000               10%
Office in Hong Kong                            $10,000               10%


     In the event  that  less  than all the  securities  to be  offered  by this
prospectus  are sold and  there  are  insufficient  funds to fully  develop  our
business  plan,  the net  proceeds  will be used  first  to pay for the cost and
expenses connected to this offering.  Any excess funds will then be used for the
recruiting   and  hiring  of  experienced   business   advisors  and  management
consultants.

                                       7


                         DETERMINATION OF OFFERING PRICE

     The offering  price of the common stock being  offered has been  determined
arbitrarily and has no relationship to any established  criteria of value,  such
as book value or earnings per share. Additionally, because we have not commenced
business operations, no significant operating history and have not generated any
revenues to date,  the price of our common stock is not based on past  earnings,
nor is the price of the common stock  indicative of the current market value for
the  assets  owned  by us.  We make  no  representations  as to any  objectively
reasonable value of the common stock.

     Since we have not retained an  underwriter  for purposes of this  offering,
the  offering  price has not been  subject to  evaluation  by any third party as
would be the case in an  underwritten  offering.  Prices  for the  shares of our
common stock after this offering will be determined in the available  market and
may be  influenced  by many  factors,  including  the depth and liquidity of the
market for our common stock and general economic and market conditions.

                                       8


                                 DIVIDEND POLICY

     We have never  declared or paid any cash dividends on our capital stock and
we do not intend to pay any cash dividends on our common stock, or indirectly on
our common stock,  for the foreseeable  future.  Our current policy is to retain
earnings,  if any,  to finance the  expansion  of our  business  and for general
corporate purposes.  Future dividends,  if any, will be determined solely by our
board of  directors  and will depend upon,  among other  things,  our  earnings,
financial  condition,  capital  requirements,  level of indebtedness,  and other
factors the board of directors believes is relevant.

                              SELLING SHAREHOLDERS

         There are no selling security holders.

                              PLAN OF DISTRIBUTION

The Offering


     We are  offering  2,000,000  new shares of common  stock to the public at a
price of $0.05 per share.  The common stock will be sold on a "best efforts,  no
minimum basis". There are no underwriters  involved in the selling of our common
stock. We will pay sales  commissions of up to 10% to registered  broker-dealers
willing to sell our common shares.  There is no minimum purchase requirement and
no arrangements to place funds in an escrow,  trust or similar  account.  As the
funds are raised,  they will be made  available  to us for our use.  There is no
minimum  amount of funds  which  must be raised by us before  the funds are made
available to us. Our brokers  will  distribute  the  prospectus  to  prospective
investors  whom they  believe  may be  interested,  or who have  contacted  them
expressing an interest in  evaluating  an  investment  in our common stock.  The
offer and sale of shares of our common stock offered pursuant to this prospectus
will commence after the date of this  prospectus for a period of 90 days.  First
Asia International Holdings Limited and their affiliates will not participate in
the distribution.

     We  intend to offer  shares  of our  common  stock to  persons  who are not
residents  of the United  States,  but only to the extent we may  lawfully do so
under the laws of the country where the offeree resides.  We may sell our common
stock in privately negotiated transactions,  or in the event our common stock is
quoted on the OTCBB, in such public market.

     Nothing in this  prospectus  will prevent our common stock from may also be
sold in compliance  with the Securities and Exchange  Commission Rule 144 of the
Securities  Act of 1933.  Our Officers and  Directors do not intend to subscribe
for shares in this offering.

Offering Expenses

         The expenses payable by us in connection with the issuance and
distribution of the securities being registered are estimated as follows:


Securities and Exchange Commission Registration Fee                 $810
U.S. Legal Fees                                                  $20,000
BVI Legal Fees                                                    $1,500
Accounting Fees                                                   $1,500
Printing                                                            $190
TOTAL                                                            $24,000

                                  EXCHANGE RATE

Quantitative and Qualitative Disclosures About Market Risks

     We will record our finances in Hong Kong dollars and report our  operations
in U.S. dollars. Fluctuations in the exchange rate between Hong Kong dollars and
the U.S.  dollars  will affect the amount of dollars  reported in our

                                       9


financial statements. We do not expect to actively use derivative instruments to
reduce our exposure to foreign currency risk.

     The following table sets forth certain  information  concerning the average
rates of exchange  between  Hong Kong  dollars and U.S.  dollars for the periods
indicated.  It represents  the noon buying rate in New York for cable  transfers
payable in foreign  currencies as certified for customs  purposes by the Federal
Reserve  Bank of New  York.  the  average  noon  buying  rate is  determined  by
averaging  the rates on the last  business day of each month during the relevant
period.


                               CALENDAR YEAR                    AVERAGE NOON
                                                                 BUYING RATE
                                                                (HK$ PER US$)

                                   1999                            7.7594
                                   2000                            7.7924
                                   2001                            7.7997
                                   2002                            7.7997
                                   2003                            7.7876


LAST SIX CALENDAR MONTHS           HIGH                              LOW
July 2003                         7.7998                           7.7950
August 2003                       7.7998                           7.7920
September 2003                    7.7999                           7.7444
October 2003                      7.7684                           7.7085
November 2003                     7.7690                           7.7475
December 2003                     7.7670                           7.7628





                                       10






                         CAPITALIZATION AND INDEBTEDNESS

     The following table sets forth our  capitalization  and  indebtedness as of
May 31, 2003. Our  capitalization  and  indebtedness  are presented on an actual
basis and on a pro forma basis.

     You should read this table in conjunction with "Management's Discussion and
Analysis of Financial  Condition  and Results of  Operations"  and our financial
statements and the notes thereto,  included  elsewhere in this prospectus.  On a
pro forma as adjusted basis,  cash equivalents  will be US$71,928,  total shares
issued and outstanding will be 10,000,000 and total stockholders' equity will be
US$71,928 (assuming no shares are sold pursuant to the offering).

                                                                                                    

                                                                                                       PRO FORMA
                                                                                      AS OF MAY 31,    AFTER THIS
                                                                                      2003             OFFERING (1)
Cash                                                                                  $100,256         $100,256
Long-term debt:                                                                       $0               $0
     Common stock: $0.01 par value;
Number of shares authorized:
     10,000,000 shares issued and outstanding on an actual basis,                     $100,000

     10,000,000 shares issued and outstanding on a pro forma as adjusted basis:                        $100,000
     Additional paid-in capital                                                       $0               $0
     Accumulated deficit                                                              $(4,072)         $(28,072)

Total stockholders' equity                                                            $95,928          $71,928
(1) Assuming no shares are sold pursuant to the offering.




                                       11



                                    DILUTION

     Our pro forma net tangible  book value as of May 31, 2003 was  $95,928,  or
$0.0096 per common share.  Pro forma net tangible book value per common share is
determined  by  dividing  the  amount of our total  tangible  assets  less total
liabilities  by the pro forma number of common share  outstanding  at that date.
Dilution in net tangible book value per common share  represents  the difference
between the amount per common share paid by  purchasers  of common stock in this
offering and the pro forma net tangible book value per common share  immediately
after the completion of this offering.

     After giving  effect to the  issuance and sale of 2,000,000  shares in this
offering,  at an assumed initial public  offering price of $0.05 per share,  and
after deducting estimated offering expenses, which would result in estimated net
proceeds of $76,000,  our pro forma net tangible  book value as of May 31, 2003,
would  have been  $171,928  or $0.0143  per common  share.  This  represents  an
immediate  increase  in the pro forma net  tangible  book value of  $0.0047  per
common share to existing  shareholders and an immediate  dilution of $0.0357 per
common share to new investors.  The following  table  illustrates  the per share
dilution:

Assumed initial public offering price per share........................   $0.05
Pro forma net tangible book value per common share at May 31, 2003..... $0.0096
Pro forma increase in net tangible book value per common share
  attributable to new investors........................................ $0.0047
Pro forma net tangible book value per common share after this offering. $0.0143
Pro forma dilution per common share to new investors................... $0.0357



                                       12


                         SELECTED FINANCIAL INFORMATION

     The following  table sets forth our selected  consolidated  financial data.
You  should  read this  information  together  with our  consolidated  financial
statements  and the  notes to  those  statements  beginning  on page F-1 of this
prospectus  and  the  information  under  "Summary  Financial  Information"  and
"Management's  Discussion  and  Analysis of Financial  Condition  and Results of
Operations."

     The  selected  financial  and other data set forth below  should be read in
conjunction  with our financial  statements,  including the notes  thereto,  and
"Managements  Discussion,  and  Analysis of Financial  Condition  and Results of
Operations"  included in this  prospectus.  The statement of operations data set
forth below for the period  ended May 31, 2003 and the balance  sheet data as of
May 31,  2003  are  derived  from  our  audited  financial  statements  included
elsewhere in this  prospectus,  which have been audited by PKF Certified  Public
Accountants. Our financial statements are prepared in accordance with accounting
principles generally accepted in the United States of America.

FROM APRIL 8, 2002 (INCEPTION) TO MAY 31, 2003 STATEMENT OPERATIONS DATA:

Revenues:                                                        $0
Expenses:
     Formation expenses                                          $1,026
     General and administrative expenses                         $3,046

Net Loss                                                         $(4,072)

Number of shares outstanding                                     10,000,000
Basic and diluted loss per share of common stock                 $0.0004

AS OF MAY 31, 2003
BALANCE SHEET DATA:

Cash                                                             $100,256

Total assets                                                     $100,256

Total stockholders' equity                                       $95,928

     We are in our early developmental and promotional stages. To date, our only
activities have been  organizational,  raising our initial capital,  preparing a
business plan and preparing this registration  statement.  We have not commenced
commercial operations.  As a result, the selected financial data presented above
bear no resemblance to the results that we expect when we begin operations



                                       13


           MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                            AND RESULTS OF OPERATIONS

     The following  discussion and analysis  should be read in conjunction  with
our consolidated  financial  statements and related notes included  elsewhere in
this prospectus.  The following discussion contains  forward-looking  statements
that involve risks and  uncertainties.  Our actual results may differ materially
from  those  anticipated  in those  forward-looking  statements  as a result  of
certain  factors,  including,  but not limited  to,  those set forth under "Risk
Factors" and other information contained in this prospectus.

RESULTS OF OPERATIONS

     We are a newly  incorporated  company in a development  stage.  To date, we
have not commenced business operations and have not generated any revenues. From
April 8, 2002  (inception)  to May 31, 2003,  we have engaged in no  significant
operations other than our organization,  raising our initial capital, developing
a  general   business  plan  and  preparing  this  prospectus  and  registration
statement.

     The following  discussion and analysis  should be read in conjunction  with
our audited  financial  statements and notes thereto for the period of inception
to May 31,  2003 and other  financial  information  included  elsewhere  in this
prospectus.  This prospectus  contains  forward-looking  statements that contain
risks and  uncertainties.  Our actual results may differ  significantly from the
results discussed in the forward looking statements.

     Our  operations in the upcoming year will vary based on the amount of funds
we raise.  Regardless of whether any funds are raised, we anticipate incurring a
significant loss as a result of organizational expenses, expenses related to the
filing  of this  registration  statement  and  recruiting  experienced  business
consultants  to begin  implementing  our  business  plan.  Assuming no funds are
raised,  we believe that cash on hand will meet our immediate cash  requirements
for the upcoming year.

LIQUIDITY AND CAPITAL RESOURCES

     We remain in the  development  stage and have  experienced  no  significant
change in liquidity or capital  resources or shareholders'  equity.  Our balance
sheet as of May 31, 2003  reflects  total  assets of $100,256 in cash.  With our
cash on hand,  we expect to carry out the  operations  set forth in our business
plan even in the event we are unable to raise funds through this offering.

     We do not intend to expand our  operations  until the sales of our services
have  occurred  and we feel that our revenues  will  support such an  expansion.
Initially,  we will recruit and hire our business consultants on as needed basis
and only when a  particular  client  has  agreed to retain  the  consultant.  We
believe that most of our consultants will work at the client's site, and we will
only  require  a small  administrative  office.  We have no  specific  long term
capital  requirements  other  than those  which  would vary from the sale of our
services  and no material  borrowings.  In our opinion,  our working  capital is
sufficient for our present requirements for the next twelve months.


     In the event that we require more working capital, no commitment to provide
the additional capital has been made by our sole shareholder. Accordingly, there
can be no  assurance  that  any  additional  funds  will be  available  on terms
acceptable to us, or at all. In the event we require more working capital, we do
not have any plans to engage in any debt financing or further  equity  financing
and we may be forced to suspend our expansion plans and our business operations.


OFF-BALANCE SHEET ARRANGEMENTS

     Since  our  inception,  we  have  not  engaged  in  any  off-balance  sheet
arrangements.

CONTRACTUAL OBLIGATIONS

         We are in our early developmental stage and to date we have no
contractual obligations.



                                       14


                                    BUSINESS

OVERVIEW


     We are a  development  stage  company  incorporated  in the BVI on April 8,
2002.  As of the date of this  prospectus,  our only  activities  have  been our
organization,  raising our initial  capital,  developing a general business plan
and preparing  this  registration  statement.  On September 18, 2003, we filed a
registration  statement  with no specific  business  plan and for the purpose of
creating a public shell that would attempt a business  combination  with another
company  possessing a business history and operating assets. We have not engaged
in any substantive  business  activities to date. We are not, nor do we consider
ourselves a "blank check" company as that term is defined in SEC Rule 419 and we
have no  intention  of entering  into a business  combination  in the  immediate
future.


     We were founded by Mr. Li Sze Tang,  who is presently  our Chief  Operating
Officer  and  Chairman  of the  Board.  Mr.  Li has over 20  years  of  business
experience  in Hong Kong and China in various  aspects of  business  finance and
investments.

BUSINESS ADVISORY AND MANAGEMENT CONSULTING SERVICES


     We aim to provide business advisory and management  consulting  services in
greater China for various industries,  including trading, manufacturing and high
technology development companies. Initially we will concentrate on the Hong Kong
market and eventually  expanding  into China.  Our focus will be on SMEs in Hong
Kong and China.  We intend to work closely with our clients to improve  business
performance,  increase shareholder value and create competitive  advantages.  We
will  attempt to make our  client's  businesses  operate  in the most  efficient
manner.

     Initially we will utilize  consultants,  who will not be our employees,  to
provide advisory services to our clients.  As our business expands, we intend to
hire our own employees to service our clients.

     We  intend  to  offer  the  following   business  advisory  and  management
consulting services:

STRATEGIC ADVISORY SERVICE

     We believe that in today's highly competitive business  environment,  it is
more important than ever for  businesses to identify their  long-term  goals and
objectives.  We hope to assist  businesses  to analyze  their  current  business
activities and assess future  opportunities to help them achieve their long-term
objectives.  Through our  independent  analysis  and  objective  assessment,  we
believe that we can help  businesses  develop  effective  investment  and growth
strategies,  successful business portfolios and increase revenues, profitability
and  shareholder  value.  We expect to combine  the  commercial  experience  and
business  specific  knowledge of our future  employees and consultants  with our
extensive  market  research  to provide  comprehensive  information  for clients
seeking to capitalize on business opportunities.

BUSINESS PLAN PREPARATION

     We believe that clients trying to obtain  financing for a business  startup
or growing their existing  businesses need to prepare a  professionally  written
business plan specifically  tailored for their  businesses.  We believe that the
process of  developing a business plan (i) ensures that a business will consider
weaknesses  in  its  operations  that  may  be  otherwise  overlooked  and  (ii)
highlights  a  company's  strengths  to make it  attractive  to  investors.  The
business  plan often  serves as a  company's  first  introduction  to  potential
investors.  We intend  to offer a  business  plan  preparation  service  to help
clients through the process of drafting an effective business plan.

DEVELOP A MARKETING PLAN

     We believe that a company needs to develop an effective  marketing  plan to
increase  revenues.  We  intend  to  offer  clients  market  analysis  services,
including  research  into the  size,  segment,  growth  potential,  competitors,
customers and buying behaviors of a particular  market.  With the results of our
market analysis,  we intend to help our clients develop marketing strategies and
tactics to assist them to reach targeted markets, segments and customers.

MERGERS, ACQUISITIONS, RESTRUCTURINGS  AND SALES OF BUSINESSES

     We believe that many business will request  advice from us on the purchase,
sale or merging of a business. Additionally, when a company is not achieving its
long or short-term  goals,  it may need to reassess and  restructure  its entire
business  operations.  We  intend to offer  services  ranging  from  identifying

                                       15


prospects  for  purchasers  and  sellers,   coordinating  acquisition  and  sale
opportunities,  assisting in due  diligence  investigations,  determining a fair
price for a sale, purchase or merger,  structuring and closing  transactions and
assisting  with  business  integration  following  the  completion  of a merger,
acquisition or sale.

ADVISING OVERSEAS INVESTORS ON INVESTMENTS IN HONG KONG AND CHINA

     China has been one of the largest  recipients of foreign direct  investment
of all  developing  countries for the last several  years.  We believe that many
foreign  investors  choose to invest in China  through Hong Kong because of Hong
Kong's  developed  business  and legal  systems.  Therefore,  we intend to offer
overseas  investors  advisory  services on the procedures to establish  business
operations in Hong Kong and China.

INDUSTRY BACKGROUND

THE BUSINESS ADVISORY AND MANAGEMENT CONSULTING MARKET:

     Hong Kong is a leading business advisory and management  consultancy center
in Asia. We believe its status as one of the world's leading  business  centers,
its well  developed  legal  system,  easy  access to  international  skills  and
technology and the number of experienced  consultants in Hong Kong has attracted
many internationally renowned business advisory and management consultancy firms
to build their  presence  there.  Additionally,  we believe China is regarded as
offering  one  of  the  highest  growth  potentials  for  management  consulting
services.  Hong Kong's management  consulting sector should further benefit from
China's  liberalization  due to its  expected  accession  into  the  WTO and the
recently  signed CEPA  agreement,  under which Hong Kong  management  consulting
companies will be permitted to establish wholly-owned enterprises in China.

     According  to the Hong Kong Trade  Development  Council,  as of March 2003,
there  were  3,312  business  management  and  consultancy  firms in Hong  Kong,
employing  approximately 18,923 individuals.  The services these firms offer can
be broadly categorized into six sectors:

     General  Management:  including  corporate and business strategy,  business
process re-engineering and management reorganization.

     Financial  Management:  including analysis of capital investment proposals,
development of accounting and budgetary control systems and business valuations.

     Marketing  Management:  including the  formation of marketing  strategy and
customer service policies.

     Production Management: including logistic studies, supply chain management,
material  requirement  planning,  manufacturing  resource planning and efficient
production procedures.

     Human Resource  Management:  including salary survey,  job evaluation,  pay
scale assessment and performance management training.

     Information Technology Management: strategic study and system development.

SMES IN HONG KONG AND CHINA:

     According  to  statistics  released  by the  Small and  Medium  Enterprises
Information  Centre of the Trade and Industry  Department  of the  Government of
Hong Kong, in June 2003, there were about 290,000 SMEs in Hong Kong alone.  SMEs
accounted for over 98% of all  businesses  in Hong Kong and provided  employment
opportunities to approximately  1.3 million persons (which is approximately  60%
of total employment, excluding the Hong Kong civil service). We believe that the
Hong Kong  government  considers  SMEs to be the backbone of Hong Kong's economy
and the driving force of its economic development.

     During the past few years, the Hong Kong government has been assisting SMEs
to grow and  develop,  particularly  in the wake of the  downturn  in the  Asian
economy and the  challenges  brought about by the SARS outbreak in the summer of
2003. In a policy  address in October of 2001 by the Hong Kong Chief  Executive,

                                       16


the  government  indicated it would set aside HK$1.9  billion to establish  four
funding schemes with a total commitment of HK$7.5 billion to help SMEs. The four
schemes  which  were  set up in  December  2001/January  2002  were the SME Loan
Guarantee Scheme,  the SME Export Market Fund, the SME Training Fund and the SME
Development Fund.

     According  to a report by the People's  Daily Paper,  in 2001 the number of
SMEs in China  exceeded 8 million,  accounting  for 99% of the  country's  total
enterprises.  In 2002, the Chinese  government  promulgated a series of laws and
regulations  to protect  and promote the  development  of SMEs.  The Laws of the
People's Republic of China on the Promotion of Small and Medium-Sized Enterprise
was adopted by the 28th Session of the Standing  Committee of the Ninth National
People's  Congress on June 29, 2002,  which took effect on January 1, 2003.  The
law  contains  seven  sections  and  deals  with  funding  assistance,  business
establishment support, technology innovation, market development, social support
and preferential tax treatment.

STRATEGY

     Our growth over the next several years will depend primarily on our ability
to identify the business  advisory and  management  consulting  needs of SMEs in
Hong Kong and China and to penetrate these markets.  We intend to accomplish our
objective by actively recruiting  experienced  business consulting  personnel to
finalize our business plan and begin  advertising  and marketing our services in
Hong Kong and China. We plan to establish a business  information center in Hong
Kong for the  purpose  of  collecting  local  market and  business  information,
promoting business connections and establishing a core group of clients.

     As part of our  growth  strategy,  we intend to form  alliances  with other
business  consulting  entities in Hong Kong and China which would complement the
services we plan to offer. We believe that in order to achieve our objective, we
will need to establish a business  network of local  professionals  and business
partners.  We plan to form  alliances with  independent  accounting and business
consulting firms in Hong Kong and China with an aim to obtain referral business.
Additionally,  these  alliances  will offer us an  opportunity  to access a wide
range of market information and provide us with technical support,  at little or
no cost to us.

EXPANDING  INTO CHINA

         While we initially intend to focus on the Hong Kong market, we believe
that there will be a strong demand for our services in China.

     With  China's  expected  accession to the WTO,  the Chinese  government  is
required  to make  significant  changes  to its  economic  system and its market
liberalization  policies in order to meet the WTO requirements.  We believe that
these  changes in Chinese  policies will generate  increased  opportunities  for
investors,  both foreign and domestic,  to enter the Chinese business market and
as a result, we expect these changes will create business opportunities for us.

SALES AND MARKETING

     We believe that to attract the clients  necessary to achieve our  objective
of becoming a provider of business  advisory and  management  consulting in Hong
Kong and China,  we must promote our  corporate  image and increase the public's
awareness  of the services we will be  providing.  To promote our  services,  we
intend to organize and hold seminars in Hong Kong and China, publish newsletters
and periodicals and develop our website.

COMPETITION

     We expect to face competition  from many  businesses,  including those with
greater name  recognition,  more resources (both human and  financial),  a wider
range of services and a longer operating history than we do. Our competitors may
also  leverage  their  existing  relationships  with  companies,  expertise  and
established reputations to increase their share of the market.  Furthermore,  we
consider  the  barriers  to  entry  in  our  expected  market  to be  low  since
substantial  capital  investment is not  required,  so it is likely that we will
face many additional competitors in the future. Although we believe that we will
be able to compete  successfully  in this market,  we cannot  assure you that we
will be able to do so.


                                       17


EMPLOYEES

     We are a development  stage company and currently  have no employees  other
than our executive  officers,  Mr. Li Sze Tang and Mr. Wilson Cheung. As part of
our business plan, we initially plan to hire a business  advisors and management
consultants who have extensive experience in Hong Kong advising SMEs.

LITIGATION

         We are not currently subject to any material legal proceedings

FACILITIES


     We have no real  property and currently  operate from limited  office space
provided to us by First Asia International  Holdings Limited ("First Asia"), for
which we pay no rent.  First Asia's  address is located at Rooms  3505-06,  35th
Floor,  Edinburgh Tower, The Landmark, 15 Queen's Road, Central, Hong Kong, SAR.
We do not believe that it will be necessary  to obtain  additional  office space
within the foreseeable  future until our business plan is more fully  developed,
at which time we may need additional office facilities.


                                       18



                                   MANAGEMENT

EXECUTIVE OFFICERS AND DIRECTORS

         The following sets forth certain information with respect to our
directors and executive officers as of the date of this prospectus.

                                                                               

Name            Age          Positions                                                  Address

Li Sze Tang     44           Chief  Executive  Officer and Chairman of the       Rooms 3505-06, 35th Floor,
                                       Board of Directors                            Edinburgh Tower, The Landmark,
                                                                                     15 Queen's Road Central

                                                                                 Rooms 3505-06, 35th Floor,
Wilson Cheung   29           Chief Financial Officer and Director                Edinburgh Tower, The Landmark,
                                                                                     15 Queen's Road Central



         The following is a brief account of the business experience of each of
our directors and executive officers.


     Mr. Li Sze Tang is the founder and is currently  an  executive  director of
First Asia Capital Investment  Limited, an investment company listed on the Main
Board of the Stock Exchange of Hong Kong Limited,  and has been a director since
July 4, 2002.  From 1999 to 2002 he was and  executive  and a  director  of Thiz
Technology Group Limited, an IT company specializing in developing and providing
Linux solutions,  which he founded and which is listed on the Growth Enterprises
Market of the Stock Exchange of Hong Kong Limited.  He has worked in the banking
and finance field and computer  industries  for more than eighteen  years,  with
extensive  experience in investment  banking,  fund management,  venture capital
financing and risk management.  Mr. Li was the treasurer and finance director of
Carlingford  Swire  Assurance  Group and an  associate  director  of HSBC  Asset
Management (Asia Pacific) Limited,  overseeing the management of eight principal
departments.  Mr. Li holds a  Master's  Degree in  Science  specialising  in the
management of New Ventures from the Imperial College of Science,  Technology and
Medicine,  University  of London  and a  Master's  Degree in  Economic  Law from
Zhongshan  University  of the  PRC.  He is also a  Fellow  Member  of  Chartered
Institute of Management Accountants (FCMA), the United Kingdom and the Hong Kong
Society of  Accountants  (FHKSA) and an  associate  member of the  Institute  of
Management Consultancy, the United Kingdom.

     Mr.  Wilson Cheung has gained more than five years'  working  experience in
the investment  banking and corporate  finance areas. He began his employment on
December  2001 with and,  is  currently  working  at First  Asia  Finance  Group
Limited.  Mr. Cheung worked with  Oriental  Patron Asia Limited from  September,
1999 to September 2000,  Kingsway  Capital Limited from October 2000 to May 2001
and Core Pacific - Yamaichi  International (H.K.) Limited in Hong Kong from June
2001 to November 2001, engaging in the provision of corporate finance, financial
advisory, and securities placement and underwriting services.  During the course
of his employment, Mr. Cheung had successfully assisted a number of companies to
list on both of the Main Board and GEM board of the Stock  Exchange of Hong Kong
Limited.  Mr.  Cheung  holds  a  Bachelor  of  Business  degree  from  Swinburne
University of Technology, Melbourne of Australia.


DIRECTORS' ACTIVITIES OUTSIDE OF OUR BUSINESS


     Other than his  position as Chief  Executive  Officer and  Director of Apex
Wealth  Enterprises  Ltd.,  Mr.  Li Sze Tang is also  employed  as an  executive
director of First Asia Capital  Investment  Limited  being  appointed on July 4,
2002. He is also currently a director of First Asia Finance Group Limited, First
Asia Private Equity Investment Limited,  First Asia Nominees Limited, First Asia
International Holdings Limited, First Asia Asset Management Limited and iPacific
Asset  Management  Limited  and  Media  Century  International   Limited,  being
appointed on February 21, 1994, May 18, 1999, May 18, 1999,  April 24, 2002, May
25, 2002, March 2, 2001 and July 18, 2002, respectively.


                                       19


     Other than his  position as Chief  Financial  Officer and  Director of Apex
Wealth  Enterprises  Ltd.,  Mr.  Wilson  Cheung is also  employed  at First Asia
Capital Investment Limited.


     Mr. Li and Ms. Wong Lap Woon (Mr. Li's wife) owns 100% of the share capital
of First Asia  International  Holdings  Limited,  which in turn owns 100% of our
share capital, 100% of the share capital of First Asia Finance Group Limited and
20% of the share capital of First Asia Capital Investment Limited.


BOARD OF DIRECTORS PRACTICES

     The sole subscriber to our Memorandum and Articles of Association appointed
Mr. Li Sze Tang as one of our first  directors.  Mr. Wilson Cheung was appointed
by the  board of  directors  to fill a  vacancy  of a  resigning  director.  Our
directors  serve a  one-year  term or  until  their  successor  is  elected  and
qualified.

     Our  board of  directors  have not  established  an  audit  committee  or a
remuneration committee at this time.

DIRECTORS' AND OFFICER'S COMPENSATION

     None of our  directors or officers has received any  remuneration  from us.
Although there is no current plan, it is possible that as our business develops,
we may  adopt a plan to pay  our  directors  and/or  officers  compensation  for
services rendered to implement our business plan. Our directors and officers are
not currently subject to any service or employment  contract with us. We have no
stock option plan,  retirement  scheme,  incentive  programs,  pension or profit
sharing  programs  for the benefit of our director and  officers,  however,  the
board of directors may adopt one or more of these programs in the future.


                           RELATED PARTY TRANSACTIONS

     From April 30, 2002 (the date of inception) to the date of this prospectus,
we have not entered into any related party transactions except for a no interest
loan  granted  by First  Asia  International  Holdings  Limited in the amount of
US$3,046.

                             PRINCIPAL SHAREHOLDERS

     The following  table sets forth certain  information  regarding  beneficial
ownership of our common stock as of February 3, 2004 by:

     o each  person who is known by us to own  beneficially  more than 5% of the
     outstanding common stock,

     o each  of our  current  executive  officers  and  directors,

     o all of our current executive officers and directors as a group.

         The table has been prepared on a pro forma basis assuming:

     As used in this  table,  "beneficial  ownership"  means  the sole or shared
power to vote or direct the voting or to  dispose or direct the  disposition  of
any common share.


                                                                                            
                                                    Common stock Beneficially        Common stock Beneficially
                                                  Owned Prior To This Offering       Owned After This Offering

Beneficial Owner
                                                     Number          Percent          Number          Percent

Li Sze Tang (1).............................       10,000,000         100%            10,000,000        83%



     (1) These  shares are held of record by First Asia  international  Holdings
Limited,  of which Mr. Li Sze Tang owns 50% and his wife Ms.  Wong Lap Woon owns
50%.  Mr.  Li Sze  Tang is our CEO and  Chairman  of the  Board.  The  principal
business  address  of First  Asia  International  Holdings  Limited  is at Rooms
3505-06,  35th Floor,  Edinburgh Tower,  The Landmark,  15 Queen's Road Central,
Hong Kong SAR.


                                       20



                           DESCRIPTION OF COMMON STOCK

GENERAL

     Our  authorized  share  capital  consists of  100,000,000  shares of common
stock,  each with a par value of $0.01 per share. As of May 31, 2003, there were
10,000,000 common stock issued and outstanding.  We have no authorized preferred
shares.

     Each share of common stock is entitled to one vote on all matters submitted
to a vote by  shareholders,  including the election of  directors.  There are no
cumulative  voting  rights in the  election of  directors.  All shares of common
stock are equal to each other with respect to  liquidation  and dividend  rights
and are entitled to receive dividends if and when our board declares them out of
funds legally  available for  distribution  under BVI law. Upon our liquidation,
all assets  available for  distribution  are  distributable  among  shareholders
according  to their  respective  holdings.  There  are no  preemptive  rights to
purchase any additional, unissued shares of common stock.

IMPACT OF THE "PENNY STOCK" RULES ON BUYING OR SELLING OUR COMMON STOCK

     We anticipate  that the initial trading in our Common Stock will be subject
to the "penny stock" rules.  The Securities and Exchange  Commission has adopted
regulations  that generally  define a penny stock to be any equity security that
has a market  price of less than $5.00 per share.  These rules  require that any
broker-dealer  who  recommends  our  securities  to  persons  other  than  prior
customers and  accredited  investors,  must,  prior to the sale,  make a special
written suitability  determination for the purchaser and receive the purchaser's
written agreement to execute the transaction.  In addition,  unless an exception
is available,  the broker-dealer must deliver a disclosure  schedule  explaining
the penny stock market and the risks  associated with trading in the penny stock
market  prior  to  any  transaction.   Further,   broker-dealers  must  disclose
commissions payable to both the broker-dealer and the registered  representative
and current  quotations for the securities  they offer.  The additional  burdens
imposed  upon  broker-dealers  by such  requirements  may  discourage  them from
transactions  in our Common Stock,  which could  severely limit the market price
and liquidity of our securities.


                                       21



                     MEMORANDUM AND ARTICLES OF ASSOCIATION

CORPORATE POWERS.

     We have been  registered  as a limited  liability  company in the BVI since
April 8, 2002 under British  Virgin  Islands  International  Business  Companies
number 490452. Pursuant to Clause 4 of our Memorandum of Association the objects
for which we are  established  are to engage in any act or activity  that is not
prohibited under any law for the time being in force in the BVI.

DIRECTORS.

     No agreement or transaction  between us and one or more of our directors or
any  person  in which  any  director  has a  financial  interest  or to whom any
director is related,  including as a director of that other  person,  is void or
voidable  for this reason only or by reason only that the director is present at
the meeting of  directors or at the meeting of the  committee of directors  that
approves  the  agreement  or  transaction  or that  the vote or  consent  of the
director is counted for that  purpose if the  material  facts of the interest of
each  director  in  the  agreement  or  transaction   and  his  interest  in  or
relationship to any other party to the agreement or transaction are disclosed in
good faith or are known by the other  directors.  A director who has an interest
in any particular business to be considered at a meeting of directors or members
may be  counted  for  purposes  of  determining  whether  the  meeting  is  duly
constituted.

     With the prior or  subsequent  approval by a  resolution  of  members,  the
directors  may, by a resolution  of directors,  fix the  emoluments of directors
with respect to services to be rendered in any capacity to us.

     The directors may by resolution of directors exercise all the powers of the
company to borrow money and to mortgage or charge our  undertakings and property
or any part thereof,  to issue debentures,  debenture stock and other securities
whenever money is borrowed or as security for any debt,  liability or obligation
of us or of any third party.

         There is no age limit requirement for retirement or non-retirement of
directors. A director shall not require a share qualification. Directors are not
required to stand for election at staggered intervals.


SHARE RIGHTS, PREFERENCES AND RESTRICTIONS.

     Dividends. We may by a resolution of directors declare and pay dividends in
money, shares, or other property,  but dividends shall only be declared and paid
out of surplus.  In the event that  dividends are paid in specie,  the directors
shall have  responsibility  for  establishing and recording in the resolution of
directors  authorising the dividends,  a fair and proper value for the assets to
be so distributed. All our shares have the same rights with regards to dividends
and distribution upon our liquidation.  All dividends  unclaimed for three years
after having been  declared may be forfeited by  resolution of the directors for
our benefit.

     Voting Rights and Redemption.  We only have one class of common shares. All
common  shares  have one vote each and are  subject to  redemption,  purchase or
acquisition by us for fair value. We may purchase,  redeem or otherwise  acquire
and hold our own shares but only out of surplus or in exchange  for newly issued
shares of equal value.

CHANGING SHARE RIGHTS.

     If at any time the authorized  capital is divided into different classes or
series of shares,  the rights attached to any class or series (unless  otherwise
provided  by the terms of issue of the  shares  of that  class or  series)  may,
whether or not we are being  wound up, be varied  with the consent in writing of
the holders of not less than three-fourths of the issued shares of that class or
series and of the holders of not less than three-fourths of the issued shares of
any other class or series of shares which may be affected by such variation.

                                       22


SHAREHOLDERS' MEETINGS.

     The directors may convene meetings of our members at such times and in such
manner and places within or outside the BVI as the directors  consider necessary
or  desirable.  The  directors  shall  convene  such a meeting  upon the written
request of members holding ten percent or more of our outstanding voting shares.
The  directors  shall give not less than seven  days'  notice of the  meeting to
those  persons  whose names on the date the notice is given appear as members in
the share register and are entitled to vote at the meeting.

RESTRICTIONS ON RIGHTS TO OWN SECURITIES.

     There are no limitations on the rights to own our securities.

CHANGE IN CONTROL PROVISIONS.

     There are no provisions of our  Memorandum of  Association  and Articles of
Association  that would have an effect of delaying,  deferring  or  preventing a
change in our control and that would have operate only with respect to a merger,
acquisition or corporate restructuring involving us.

DISCLOSURE OF SHARE OWNERSHIP.

     There are no provisions in our  Memorandum of  Association  and Articles of
Association which require that shareholder ownership must be disclosed.

CERTAIN DIFFERENCES BETWEEN U.S. AND BVI COMPANY LAWS

     In most U.S.  jurisdictions,  majority and  controlling  shareholders  of a
company  generally  have certain  "fiduciary"  responsibilities  to its minority
shareholders.  Corporate actions taken by majority and controlling  shareholders
which  are  patently   unreasonable  and  materially   detrimental  to  minority
shareholders  may be declared  null and void.  Minority  shareholder  protection
under  BVI  law  may  not be as  protective  in  all  circumstances  as the  law
protecting minority shareholders in U.S. jurisdictions.

     Unlike most U.S.  jurisdictions,  our Memorandum of Association  allows our
directors  to take  certain  actions  without  shareholder  approval,  including
amending our  Memorandum  and Articles of  Association or increasing or reducing
our authorized share capital.  In most U.S.  jurisdictions,  these actions which
would   require   shareholder   approval.   Additionally,   unlike   most   U.S.
jurisdictions, the directors of a BVI company, subject in certain cases to court
approval but without shareholder approval, may, among other things,  implement a
reorganization,  certain mergers or consolidations, the sale, transfer, exchange
or disposition of any assets,  property,  part of the business, or securities of
the company,  or any combination,  if they determine it is in the best interests
of the company, its creditors, or its shareholders.

     Similar  to the  laws of most  U.S.  jurisdictions,  BVI  law  does  permit
shareholder derivative actions against its directors. However, the circumstances
in which any such action may be brought,  and the  procedures  and defenses that
may be  available  in  respect of any such  action,  may result in the rights of
shareholders of a BVI company being more limited than those of shareholders of a
company incorporated and/or existing in the U.S.

     As with most U.S.  jurisdictions,  the  business  and  affairs of a company
established in the BVI are managed by the company's board of directors.  In most
U.S.  jurisdictions,  directors  owe a  fiduciary  duty to the  company  and its
shareholders,  including a duty of care,  under which  directors  must  properly
apprise  themselves  of all  reasonably  available  information,  and a duty  of
loyalty,  under which they must protect the interests of the company and refrain
from conduct that injures the company or its  shareholders  or that deprives the
company or its shareholders of any profit or advantage. Under BVI law, liability
of a  director  to  the  company  is  primarily  limited  to  cases  of  willful
malfeasance in the  performance of his duties or to cases where the director has
not acted  honestly  and in good faith and with a view to the best  interests of
the company.  However,  under our Articles of Association,  we are authorized to
indemnify  any director or officer who is made or  threatened to be made a party
to a legal or administrative  proceeding by virtue of being one of our directors
or officers,  provided  such person acted  honestly and in good faith and with a
view to our best  interests  and,  in the case of a  criminal  proceeding,  such

                                       23


person  had no  reasonable  cause to  believe  that his  conduct  was  unlawful.
Pursuant  to  our  Articles  of  Association,  if any  director  or  officer  is
successful in defense of any civil,  administrative or criminal proceedings that
director or officer is entitled to be indemnified  against all judgments,  fines
and amounts  paid in  settlement  and  reasonably  incurred by that  director or
officer in connection with those proceedings.

         The above description of certain differences between BVI and U.S.
corporate laws is only a summary and does not purport to be complete or to
address every applicable aspect of such laws. However, we believe that all
material differences are disclosed above.

CHANGES IN CAPITAL

     Requirements  to effect  changes in capital are not more  stringent than is
required by law.

MATERIAL CONTRACTS

     We are in our early  developmental  stage and we have not entered  into any
material  contracts and specifically no material  contracts outside the ordinary
course of our business.

EXCHANGE CONTROLS

         BVI and Hong Kong

     There  are  no  material  exchange  controls  restrictions  on  payment  of
dividends,  interest or other  payment to the holders of our common  stock or on
the conduct of our operations either in Hong Kong, where our principal executive
offices  are  located,  or the BVI,  where  we are  incorporated.  There  are no
material  BVI laws which  impose any  material  exchange  controls on us or that
affect the  payment  of  dividends,  interest  or other  payment to  nonresident
holders  of our  common  stock.  BVI law  and our  Memorandum  and  Articles  of
Association  imposes no material  limitations on the right of  non-residents  or
foreign owners to hold or vote our common stock.

         China

     China  imposes  control over the  convertibility  of Renminbi  into foreign
currencies.  Under the  current  unified  floating  exchange  rate  system,  the
People's Bank of China ("PBOC") publishes a daily exchange rate for Renminbi, or
the PBOC Exchange  Rate,  based on the previous day's dealings in the inter-bank
foreign exchange market.  Financial  institutions  authorized to deal in foreign
currency may enter into foreign  exchange  transactions at exchange rates within
an authorized  range above or below the PBOC  Exchange Rate  according to market
conditions.

     Pursuant to the Foreign  Exchange Control  Regulations  issued by the State
Council on April 1, 1996 and the Administration of Settlement,  Sale and Payment
of Foreign Exchange Regulations which came into effect on July 1, 1996 regarding
foreign  exchange  control,  or the  Regulations,  conversion  of Renminbi  into
foreign  exchange by foreign  investment  enterprises for current account items,
including  the  distribution  of dividends  and profits to foreign  investors of
joint ventures, is permissible.  Foreign investment enterprises are permitted to
remit foreign  exchange from their foreign exchange bank account in China on the
basis of, inter alia, the terms of the relevant joint venture  contracts and the
board  resolutions  declaring  the  distribution  of the dividend and payment of
profits.  Conversion  of Renminbi  into foreign  currencies  and  remittance  of
foreign  currencies for capital  account  items,  including  direct  investment,
loans,  security  investment,  is still  subject  to the  approval  of the State
Administration  of  Foreign  Exchange,  or SAFE,  in each such  transaction.  On
January  14,  1997,  the State  Council  amended the  Foreign  Exchange  Control
Regulations and added,  among other things,  Article 5 provides that the Chinese
Government shall not impose restrictions on recurring international payments and
transfers.

     Under the Regulations,  foreign investment enterprises are required to open
and maintain  separate foreign exchange  accounts for different types of foreign
exchange transactions,  and the permitted scope of receipts and expenditures for
such accounts is limited to the type of foreign exchange transactions designated
for such accounts.  In addition,  foreign  investment  enterprises may only buy,
sell  and/or  remit  foreign  currencies  at those banks  authorized  to conduct
foreign exchange business upon the production of valid commercial documents and,
in the case of capital  account item  transactions,  document  approval from the
SAFE.

                                       24


     Currently, foreign investment enterprises ("FIEs") are required to apply to
the SAFE for foreign exchange registration certificates.  These certificates are
subject  to  review  and  renewal  by the SAFE on an annual  basis,  Once an FIE
obtains this certificate or a foreign exchange sales notice from the SAFE (which
is obtained on a  transaction-by-transaction  basis),  upon  fulfilling  certain
other conditions, the FIE may enter into foreign exchange transactions at banks
authorized to conduct foreign  exchange  business to obtain foreign exchange for
their needs.



                                       25


                                    TAXATION

     The  following is a summary of the material BVI and United  States  federal
income tax consequences of an investment in our common stock based upon laws and
relevant  interpretations  thereof in effect as of the date of this  prospectus,
all of which are subject to change. This summary does not deal with all possible
tax consequences  relating to an investment in our common stock, such as the tax
consequences under state, local and other tax laws.

BRITISH VIRGIN ISLANDS TAXATION

     Currently,  there is no income tax treaty or convention  in effect  between
the United States and the BVI.

     Pursuant to the Income Tax Act of the British  Virgin  Islands in effect as
of the date of this prospectus, holders of common stock who are not residents of
the BVI are exempt  from BVI income tax on  dividends  paid with  respect to the
common stock,  and all holders of common stock are not liable for BVI income tax
on gains realized  during that year on sale or disposal of such shares.  The BVI
does not impose a withholding  tax on dividends  paid by a company  incorporated
under the International Business Companies Act.

     There are no capital  gains,  gift or  inheritance  taxes levied by the BVI
government  on  companies  incorporated  under the Income Tax Act. In  addition,
transfers of the common stock of a BVI company is not subject to transfer taxes,
stamp duties or similar charges or levies.


                                       26


                         SHARES ELIGIBLE FOR FUTURE SALE

     Prior to this offering, there has not been any public market for our shares
of common stock,  and no prediction  can be made as to the effect,  if any, that
market sales of common stock or the availability of shares for sale will have on
the market price of the common stock prevailing from time to time. Nevertheless,
sales of substantial  amounts of our common stock in the public  market,  or the
perception that such sales could occur,  could adversely affect the market price
of our common stock and could impair our future ability to raise capital through
the sale of our equity securities.

     Upon  completion  of this  offering,  we will have  outstanding  12,000,000
shares of common stock.  Of these shares of common stock,  the common stock sold
in this  offering will be freely  transferable  without  restriction  or further
registration  under  the  Securities  Act,  except  for any  shares  held by our
"affiliates",  as such term is defined by Rule 144 under the Securities Act. The
remaining  10,000,000  shares,  and any shares  purchased by  affiliates in this
offering, will be "restricted shares" as defined in Rule 144.


                                       27



                                  LEGAL MATTERS

     The law firm of Conyers, Dill & Pearman,  British Virgin Islands, has given
us its opinion that upon issuance,  the shares will be duly authorized,  legally
issued, fully paid and non assessable common stock of our company. Conyers, Dill
& Pearman  has not passed on any other  legal  matters in  connection  with this
offering.

            DISCLOSURE OF COMMISSION POSITION ON INDEMNIFICATION FOR
                           SECURITIES ACT LIABILITIES

     Insofar as indemnification for liabilities arising under the Securities Act
of 1933 may be permitted to our  directors,  officers  and  controlling  persons
pursuant to the  provisions  described in Item 14 above,  or otherwise,  we have
been advised that in the opinion of the Securities and Exchange  Commission such
indemnification  is against  public policy as expressed in the Securities Act of
1933  and  is,  therefore,   unenforceable.  In  the  event  that  a  claim  for
indemnification  against  such  liabilities  (other than our payment of expenses
incurred  or  paid  by  our  director,  officer  or  controlling  person  in the
successful  defense of any  action,  suit or  proceeding)  is  asserted  by such
director,  officer or controlling person in connection with the securities being
registered,  we will,  unless in the  opinion of our counsel the matter has been
settled by controlling precedent,  submit to a court of appropriate jurisdiction
the question  whether such  indemnification  by us is against  public  policy as
expressed  in the  Securities  Act of 1933 and  will be  governed  by the  final
adjudication of such issue.


                                     EXPERTS

     The financial  statements  included in this prospectus have been audited by
PKF,  CPA,  Hong Kong,  certified  public  accountants,  Member of the Hong Kong
Society of Accountants,  26/F, Citicorp Centre, 18 Whitfield Road, Causeway Bay,
Hong Kong, as indicated in their report on such  financial  statements,  and are
included in this  prospectus  in  reliance  upon the  authority  of said firm as
experts in accounting and auditing in giving said report.

                             ADDITIONAL INFORMATION

     We have filed with the  Securities  and Exchange  Commission a registration
statement  on  Form  F-1  under  the  Securities  Act,  including  exhibits  and
schedules,  with  respect  to the  common  shares  to be sold  pursuant  to this
prospectus.  This offering  circular does not contain all of the information set
forth in the registration statement or the exhibits and schedules which are part
of the registration  statement.  For further  information with respect to us and
our  common  stock,  reference  is made to the  registration  statement  and the
exhibits and schedules thereto.

     Upon  completion of this  offering,  we will be subject to the  information
requirements of the Securities  Exchange Act of 1934, as amended,  applicable to
foreign  private  issuers.  As a result,  we will be required  to file  reports,
including annual reports on Form 20-F, reports on Form 6-K and other information
with the SEC. We also intend to submit to the SEC quarterly  reports on Form 6-K
which will include  unaudited  quarterly  financial  information,  for the first
three  quarters of each fiscal  year,  in addition to our annual  report on Form
20-F which will include audited annual financial information.  These reports and
other  information filed or to be filed by us can be inspected and copied at the
public reference facilities maintained by the SEC at:

Judiciary Plaza
450 Fifth Street, N.W.
Room 1024
Washington, D.C. 20549

     Copies of these  materials can also be obtained  from the Public  Reference
Section of the SEC, 450 Fifth Street, N.W., Washington D.C. 20549, at prescribed
rates or on the SEC  website  at  www.sec.gov  using the EDGAR  system,  free of
charge.

     As a foreign  private  issuer,  we will be exempt  from the rules under the
Exchange Act prescribing the furnishing and content of proxy statements, and our
executive officers,  directors,  and principal  shareholders will be exempt from
the reporting and short-swing profit recovery provisions contained in Section 16
of the Exchange Act.



                                       28



                          INDEX TO FINANCIAL STATEMENTS

                         APEX WEALTH ENTERPRISES LIMITED
                          (A DEVELOPMENT STAGE COMPANY)
                              FINANCIAL STATEMENTS
                       FOR THE YEAR ENDED MAY 31, 2003 AND
                            PERIOD ENDED MAY 31, 2002



                                      INDEX


                                                                          Page
Independent Auditors' Report                                                F-2
Balance Sheets as of May 31, 2003 and 2002                                  F-3
Statements of Operations for the cumulative period and
year ended May 31, 2003 and period ended May 31, 2002                       F-4

Statements of Stockholders' Equity (Deficit) for
the year ended May 31, 2003 and period ended May 31, 2002                   F-5

Statements of Cash Flows for the cumulative period and
year ended May 31, 2003 and period ended May 31, 2002                       F-6

Notes to the Financial Statements                                     F-7 - F-9

                                      F-1


INDEPENDENT AUDITORS' REPORT

To the Board of Directors and Stockholders of
Apex Wealth Enterprises Limited
(A Development Stage Company)


     We have audited the accompanying  balance sheets of Apex Wealth Enterprises
Limited  (a  development  stage  company)  as of May 31,  2003  and 2002 and the
related statements of operations,  stockholders' equity (deficit) and cash flows
for the year ended May 31,  2003 and for the period  from April 8, 2002 (date of
incorporation)  to May 31, 2003 and 2002.  These  financial  statements  are the
responsibility of the Company's management.  Our responsibility is to express an
opinion on these financial statements based on our audits.

     We conducted our audits in accordance  with  auditing  standards  generally
accepted in the United States of America.  Those standards  require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement.  An audit includes examining, on a
test basis,  evidence  supporting  the amounts and  disclosures in the financial
statements.  An audit also includes assessing the accounting principles used and
significant  estimates  made by  management,  as well as evaluating  the overall
financial  statement  presentation.   We  believe  that  our  audits  provide  a
reasonable basis for our opinion.

     In our opinion,  the financial statements referred to above present fairly,
in all material  respects,  the  financial  position of Apex Wealth  Enterprises
Limited (a  development  stage  company)  as of May 31,  2003 and 2002,  and the
results of its operations and its cash flows for the year ended May 31, 2003 and
for the period  from April 8, 2002 (date of  incorporation)  to May 31, 2003 and
2002 in conformity with accounting  principles  generally accepted in the United
States of America.


/s/ PKF
------------------------------
PKF Certified Public Accountants
Hong Kong

08 September 2003

                                      F-2




                         Apex Wealth Enterprises LIMITED
                          (A DEVELOPMENT STAGE COMPANY)
                                 BALANCE SHEETS
                           AS OF May 31, 2003 and 2002


                                                                                                       
                                                                                          2003                 2002
                                                                    Note                   US$                  US$

ASSETS

Current assets
    Cash and cash equivalents                                          1               100,256                    -
                                                                               ----------------
                                                                               ----------------     ----------------

Total assets                                                                           100,256                    -
                                                                               ================     ================
                                                                               ================

LIABILITIES AND STOCKHOLDERS' EQUITY        (DEFICIT)

Current liabilities
    Amount due to a director                                           2                 3,046                    -
    Accrued expenses                                                                     1,282                1,026
                                                                               ----------------     ----------------
                                                                               ----------------

    Total liabilities                                                                    4,328                1,026
                                                                               ----------------     ----------------
                                                                               ----------------     ----------------




Commitments and contingency                                            5

                                                                                                       

Stockholders' equity (deficit)
    Common stock, US$0.01 par value :
      100,000,000 (2002 : 5,000,000) shares authorised :
      10,000,000 shares issued and outstanding
      at May 31, 2003 and 1,000,000 shares issued
      and outstanding at May 31, 2002                                                  100,000               10,000
    Amount due from stockholder for issuance of common stock
                                                                                             -             (10,000)
                                                                               ----------------     ----------------
                                                                               ----------------     ----------------

                                                                                       100,000                    -
    Deficit accumulated during the development stage                                   (4,072)              (1,026)
                                                                               ----------------
                                                                               ----------------     ----------------

Total stockholders' equity (deficit)                                                    95,928              (1,026)
                                                                               ----------------     ----------------
                                                                               ----------------     ----------------

Total liabilities and stockholders' equity (deficit)                                   100,256                    -
                                                                               ================     ================
"Note:  See accompany notes to financial statements"



                                      F-3



                         Apex Wealth Enterprises LIMITED
                          (A DEVELOPMENT STAGE COMPANY)
                            STATEMENTS OF OPERATIONS
                 FOR THE PERIOD AND YEAR ENDED MAY 31, 2003 AND
                    PERIOD FROM APRIL 8, 2002 TO May 31, 2002



                                                                                               

                                                             April 8, 2002                            April 8, 2002

                                                              (date of                                (date of
                                                            incorporation)          Year ended       incorporation)
                                                           to May 31, 2003        May 31, 2003      to May 31, 2002
                                                  Note                 US$                 US$                  US$

Revenue                                                                  -                   -                    -

Expenses
    Formation expenses                                               1,026                   -                1,026
    General and administrative expenses                              3,046               3,046                    -
                                                           ----------------    ----------------    -----------------
                                                           ----------------    ----------------

Loss from operations                                               (4,072)             (3,046)              (1,026)
Income taxes                                         3                   -                   -                    -
                                                           ----------------    ----------------    -----------------
                                                           ----------------    ----------------    -----------------

Net loss                                                           (4,072)             (3,046)              (1,026)
                                                           ================    ================
                                                           ================    ================    =================

Net loss per common share :                          4
    Basic                                                           (0.00)              (0.00)               (0.00)
                                                           ================    ================    =================
                                                           ================    ================    =================
    Diluted                                                         (0.000              (0.00)               (0.00)
                                                           ================    ================
                                                           ================    ================    =================

Weighted average shares :
    Basic                                                        1,408,115           1,468,493            1,000,000
                                                           ================    ================    =================
                                                           ================    ================    =================
    Diluted                                                      1,408,115           1,468,493            1,000,000
                                                           ================    ================    =================

"Note:  See accompany notes to financial statements"




                                       F-4




                         Apex Wealth Enterprises LIMITED
                          (A DEVELOPMENT STAGE COMPANY)
                  STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT)
                       FOR THE YEAR ENDED MAY 31, 2003 AND
                    PERIOD FROM APRIL 8, 2002 TO May 31, 2002


                                  Common stock
                          ----------------------------
                          ----------------------------


                                                                                                  
                                                                                         Accumulated
                                                            Shares        Amount           deficit           Total
                                                                             US$              US$             US$

Issuance of common stock on April 8, 2002                   10,000        10,000                   -         10,000

Less : Amounts due from stockholder
            for issuance of common stock                         -      (10,000)                   -       (10,000)

Net loss                                                         -             -             (1,026)        (1,026)
                                                     --------------  ------------ ------------------- --------------

Balance, May 31, 2002                                       10,000             -             (1,026)        (1,026)

Sub-division of common stock :
    on August 1, 2002                                       90,000             -                   -              -
    on May 12, 2003                                        900,000             -                   -              -

Payment of amount due from stockholder                           -        10,000                   -         10,000

Issuance of common stock on May 12, 2003                 9,000,000        90,000                   -         90,000

Net loss                                                         -             -             (3,046)        (3,046)
                                                     --------------  ------------ ------------------- --------------
                                                     --------------  ------------ ------------------- --------------

Balance, May 31, 2003                                   10,000,000       100,000             (4,072)         95,928
                                                     ==============  ============ =================== ==============
                                                     ==============  ============ =================== ==============



"Note:  See accompany notes to financial statements"

                                      F-5



                         Apex Wealth Enterprises LIMITED
                          (A DEVELOPMENT STAGE COMPANY)
                            STATEMENTS OF CASH FLOWS
                 FOR THE PERIOD AND YEAR ENDED MAY 31, 2003 AND
                    PERIOD FROM APRIL 8, 2002 TO May 31, 2002



                                                                                              

                                                            April 8, 2002                           April 8, 2002

                                                              (date of                               (date of
                                                           incorporation)          Year ended      incorporation)
                                                          to May 31, 2003        May 31, 2003     to May 31, 2002
                                                                      US$                 US$                 US$

Cash flows from operating activities :
    Net loss                                                      (4,072)             (3,046)             (1,026)
    Changes in liabilities :
        Increase in accrued expenses                                1,282                 256               1,026
                                                          ----------------    ----------------   -----------------
                                                          ----------------    ----------------

    Net cash used in operating activities                         (2,790)             (2,790)                   -
                                                          ----------------    ----------------   -----------------
                                                          ----------------    ----------------   -----------------

Cash flows from financing activities :
    Proceeds from issuance of common stock                        100,000             100,000                   -
    Advance from a director                                         3,046               3,046                   -
                                                          ----------------    ----------------   -----------------
                                                          ----------------    ----------------   -----------------

    Net cash provided by financing activities                     103,046             103,046                   -
                                                          ----------------    ----------------   -----------------
                                                          ----------------    ----------------

Net change in cash and cash equivalents and
  cash and cash equivalents                                       100,256             100,256                   -

Cash and cash equivalents, beginning of period                          -                   -                   -
                                                          ----------------    ----------------   -----------------
                                                          ----------------    ----------------   -----------------

Cash and cash equivalents, end of period                          100,256             100,256                   -
                                                          ================    ================   =================

"Note:  See accompany notes to financial statements"



                                      F-6




                         Apex Wealth Enterprises LIMITED
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                       FOR THE YEAR ENDED MAY 31, 2003 AND
                            PERIOD ENDED MAY 31, 2002



1. Nature of business and significant accounting policies

     The Company and basis of presentation

     The  purpose  of  Apex  Wealth  Enterprises   Limited  ("the  Company")  is
     investment holding. The Company's fiscal year end is May 31.

     The Company was incorporated under the International Business Companies Act
     of the British  Virgin  Islands on April 8, 2002 as a company  with limited
     liability with authorised  capital of US$50,000  divided into 50,000 shares
     of common stock at US$1 par value.

     On August 1, 2002, the authorised  capital had been subdivided into 500,000
     shares of common stock at US$0.1 par value. On May 12, 2003, the authorised
     capital was increased to US$1,000,000  divided into  100,000,000  shares of
     common stock at US$0.01 par value.

     The Company is a development stage enterprise and has not yet generated any
     revenue during the reporting  periods.  During the reporting  periods,  the
     sole activity of the Company is the issuance of common stocks.

         Cash and cash equivalents

     Cash and cash  equivalents are short-term,  highly liquid  investments with
     original maturities of three months or less.

         Income taxes

     The Company  accounts for income tax under the  provisions  of Statement of
     Financial  Accounting  Standard  No. 109,  which  requires  recognition  of
     deferred  tax  assets  and   liabilities   for  the  expected   future  tax
     consequences  of the  events  that  have  been  included  in the  financial
     statements or tax returns.  Deferred  income taxes are  recognised  for all
     significant  temporary  differences  between tax and  financial  statements
     bases of assets and  liabilities.  Deferred tax assets are reflected at the
     net realizable value.


                                      F-7


                         Apex Wealth Enterprises LIMITED
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                       FOR THE YEAR ENDED MAY 31, 2003 AND
                            PERIOD ENDED MAY 31, 2002

1. Nature of business and significant accounting policies

     Foreign currency translation and transactions

     The Company  uses Hong Kong  dollars  ("HK$") as the  functional  currency.
     Transactions  denominated in currencies  other than HK$ are translated into
     HK$ at the  applicable  rates of  exchange  prevailing  at the dates of the
     transactions.   Monetary  assets  and  liabilities   denominated  in  other
     currencies  are  translated  into HK$ at rates of  exchange  at the balance
     sheet  dates.  Exchange  gains or losses  arising  from changes in exchange
     rates  subsequent  to  the  transactions  dates  for  monetary  assets  and
     liabilities   denominated   in  other   currencies   are  included  in  the
     determination of net income for the respective period.

     For  financial  reporting  purposes,  HK$ has been  translated  into United
     States dollars  ("US$") as the reporting  currency.  Assets and liabilities
     are  translated  at the  exchange  rate in  effect at  period  end.  Income
     statement   accounts  are  translated  at  the  average  rate  of  exchange
     prevailing during the period.  Translation adjustments arising from the use
     of  different  exchange  rates  from  period to period  are  included  as a
     component  of  stockholders'  equity as  "Accumulated  other  comprehensive
     income -  foreign  currency  translation  adjustments".  Gains  and  losses
     resulting  from  foreign  currency   transactions  are  included  in  other
     comprehensive income (expenses).  Foreign currency translation  adjustments
     in 2002 and 2003 were not material.

     Use of estimates

     The  preparation  of financial  statements  in conformity  with  accounting
     principles  generally  accepted  in the United  States of America  requires
     management  to make  estimates  and  assumptions  that affect the  reported
     amounts of assets and liabilities  and disclosure of contingent  assets and
     liabilities at the dates of financial  statements and the reported  amounts
     of revenues and expenses during the reporting period.  Actual results could
     differ from those estimates.

2. Amount due to a director

     The amount is interest free, unsecured and repayable within one year.

3. Income taxes

     The Company has net  operating  loss at May 31, 2003 and 2002 for Hong Kong
     profits tax purpose.

                                      F-8



                         Apex Wealth Enterprises LIMITED
                          (A DEVELOPMENT STAGE COMPANY)
                          NOTES TO FINANCIAL STATEMENTS
                       FOR THE YEAR ENDED MAY 31, 2003 AND
                            PERIOD ENDED MAY 31, 2002


4. Net loss per common share

     Net loss  per  common  share is  calculated  on the  basis of the  weighted
     average number of common shares outstanding during the reporting periods.

5. Commitments and contingencies

     There was no significant  commitments  or contingent  liabilities as of May
     31, 2003 and 2002.

6. Concentrations of Credit Risk

     Cash  and cash  equivalents  are  financial  instruments  that  potentially
     subject the Company to concentrations of credit risk.

                                      F-9


                                     PART II

                     INFORMATION NOT REQUIRED IN PROSPECTUS

Item 6.  Indemnification of Directors, Officers and Employees

     Pursuant to BVI law,  liability  of a director to the company is  basically
limited to cases of willful  malfeasance in the  performance of his duties or to
cases where the  director  has not acted  honestly  and in good faith and with a
view to the best interests of the company.

     However,  subject  to the  limitations  provided  below,  we may  indemnify
against all expenses, including legal fees, and against all judgments, fines and
amounts paid in settlement  and  reasonably  incurred in connection  with legal,
administrative or investigative proceedings any person who (a) is or was a party
or is  threatened  to be made a party to any  threatened,  pending or  completed
proceedings, whether civil, criminal, administrative or investigative, by reason
of the fact that the person is or was a director,  an officer or a liquidator of
us;  or (b) is or  was,  at our  request,  serving  as a  director,  officer  or
liquidator of or in any other capacity is or was acting for,  another company or
a partnership, joint venture, trust or other enterprise.

         We may only indemnify a person if the person acted honestly and in good
faith with a view to our best interests and, in the case of criminal
proceedings, the person had no reasonable cause to believe that his conduct was
unlawful. If a person to be indemnified has been successful in defense of any
proceedings referred to above the person is entitled to be indemnified against
all expenses, including legal fees, and against all judgments, fines and amounts
paid in settlement and reasonably incurred by the person in connection with the
proceedings.

     We may purchase and maintain  insurance in relation to any person who is or
was a director,  an officer or a liquidator  of us, or who at our the request is
or was serving as a  director,  an officer or a  liquidator  of, or in any other
capacity is or was acting for, another company or a partnership,  joint venture,
trust or other enterprise, against any liability asserted against the person and
incurred  by the person in that  capacity,  whether or not we have or would have
had the power to indemnify  the person  against the liability as provided in our
Articles of Association.

Item 7.  Recent Sales of Unregistered Securities

     The  following  sets forth  information  relating to all of our  securities
which we sold by since  April 8, 2002,  the date of our  inception.  All of such
shares of common stock were  purchased  at a price of $.01 per share,  which was
paid for in cash.

                                                                  

---------------------------------------------- ---------------- ---------------------------------
Name                                           Date             Number of  common stock
---------------------------------------------- ---------------- ---------------------------------
---------------------------------------------- ---------------- ---------------------------------
First Asia International Holdings Limited      4/21/2002        1,000,000 (after stock split)
---------------------------------------------- ---------------- ---------------------------------
---------------------------------------------- ---------------- ---------------------------------
First Asia International Holdings Limited      5/12/2003        9,000,000
---------------------------------------------- ---------------- ---------------------------------
---------------------------------------------- ---------------- ---------------------------------
Total                                                           10,000,000
---------------------------------------------- ---------------- ---------------------------------


     Note:  Mr.  Li Sze Tang  owns of 50% and his wife owns the other 50% of all
the issued and outstanding  share capital of First Asia  International  Holdings
Limited.

         The 10,000,000 shares of common stock sold by us to First Asia
International Holding Limited were not registered under the Securities Act of
1933. All of the shares of common stock were offered and issued outside the
United States, pursuant to Regulation S under the Securities Act of 1933. First
Asia International Holdings Limited, and its beneficial owner Mr. Li Sze Tang,
respectively, are entities and/or individuals who were not citizens or residents
of the United States. None of these sales involved participation by an
underwriter or a broker-dealer.


                                      II-1



Item 8.  Exhibits and Financial Statement Schedules

     (a) The following is a list of exhibits filed as a part of this
registration statement:

Exhibits

Exhibit                        Description
Number

   3.1    Memorandum of Association of Apex Wealth Enterprises Limited
   3.2    Articles of Association of Apex Wealth Enterprises Limited
   3.3    Resolution to Amend the Authorized Share Capital of Apex Wealth
          Enterprises Limited
   4.1    Specimen Certificate for shares of our common stock
   5.1    Legal Opinion of Conyers Dill & Pearman regarding the
          legality of the common stock
   5.2    Tax Opinion of Conyers Dill & Pearman
   23.1   Consent of PKF, CPA.
   23.2   Consent of Conyers Dill & Pearman (included in Exhibit 5.1)


Schedules

         All schedules have been omitted because either they are not required,
are not applicable or the information is otherwise set forth in the consolidated
financial statements and notes thereto.

Item 9.  Undertakings

         We hereby undertake that we will:

(1)  File,  during  any  period  in  which  we  offer  or  sell  securities,   a
     post-effective amendment to this Registration Statement to:

          (i)  include  any  prospectus  required  by  Section  10(a)(3)  of the
          Securities Act of 1933;

          (ii) reflect in the  prospectus  any facts or events arising after the
          effective  date  of  this  prospectus  which,  individually  or in the
          aggregate, represent a fundamental change in the information set forth
          in the Registration Statement; and

          (iii) include any material  information  with respect to the plan
          of  distribution  not  previously  disclosed in the  Registration
          Statement  or any  material  change  to such  information  in the
          Registration Statement.

(2)  For the purpose of  determining  any liability  under the Securities Act of
     1933,  treat  each  such  post-effective  amendment  as a new  registration
     statement relating to the securities  offered therein,  and the offering of
     such securities at that time to be the initial bona fide offering thereof;

(3)  Remove from registration by means of a post-effective  amendment any of the
     securities  being  registered which remain unsold at the termination of the
     offering; and

(4)  File a post-effective  amendment to the  registration  statement to include
     any financial  statements  required by section 210.3-19 at the start of any
     delayed offering or throughout a continuous offering.


                                      II-2


                                   SIGNATURES

     Pursuant to the  requirements of the Securities Act of 1933, the registrant
certifies  that it has  reasonable  grounds to believe  that it meets all of the
requirements  for  filing  on Form F-1 and has  duly  caused  this  registration
statement  to be  signed  on its  behalf  by  the  undersigned,  thereunto  duly
authorized,  in the city of Hong Kong,  People's Republic of China, on this 31st
day of March, 2004.

                                APEX WEALTH ENTERPRISES LIMITED



                                By:   /s/ LI SZE TANG
                                   ______________________________
                                         Li Sze Tang
                                     Chief Executive Officer and
                                Chairman of the Board of Directors


     Pursuant to the  requirements  of the  Securities  Act of 1933, as amended,
this  registration  statement  has been signed by the  following  persons in the
capacities indicated on this 12th day of February, 2004.

             SIGNATURES                    CAPACITY                  DATE



           /s/ LI SZE TANG
________________________________ Chief Executive Officer and          3/31/2004
             Li Sze Tang            Chairman of the Board



          /s/  LI SZE TANG
________________________________ Attorney-in-fact for Wilson Cheung
                                 Chief Financial Officer and          3/31/2004
            Wilson Cheung        Director



           /s/ Li Sze Tang       Attorney-in-fact for Michael Lin
________________________________ Authorized Representative in         3/31/2004
             Michael Lin         the United States


                                      II-3


                                  EXHIBIT INDEX

Exhibit                 Description of Exhibit
Number

3.1     Memorandum of Association of Apex Wealth Enterprises Limited *
3.2     Articles of Association of Apex Wealth Enterprises Limited *
3.3     Resolution to Amend the Authorized Share Capital of Apex
        Wealth Enterprises Limited *
4.1     Specimen Certificate for shares of our common stock *
5.1     Legal Opinion of Conyers Dill & Pearman regarding the
        legality of the common stock*
5.2     Tax Opinion of Conyers Dill & Pearman *
23.1    Consent of PKF, CPA
23.2    Consent of Conyers Dill & Pearman (included in Exhibit 5.1)*

*  Previously Filed

                                      II-4