EXHIBIT 21






                           SUBSIDIARIES OF REGISTRANT

                                   Place of                    Percentage of         Principal
Name of Subsidiary                 Incorporation               Interest              Activities
- ------------------                 -------------               ----------            ----------
                                                                                
Heng Fai China & Asia              Hong Kong                   100%                  Investment holding
  Industries Limited                                                                 
                                                                                     
Heng Fai China                     Hong Kong                   100%                  Investment holding
  Industries Limited                                                                 
                                                                                     
Worldwide Containers               Hong Kong                   100%                  Investment holding
  Limited                                                                            
                                                                                     
Cangzhou Min You                   PRC                         100%                  Cement manufacturing
  Cement Co., Ltd.                                                                     and trading
                                                                                     
Wuhan Monkey King                  PRC                         70%                   Container manufacturing
  Container Corp., Ltd.                                                                and trading
                                                                                     
Vancouver Hong Kong                Canada                      100%                  Property investment
  Properties Ltd.                                                                      and management
                                                                                     
America & China Business           Canada                      100%                  Inactive
  Development Inc.                                                                    
                                                                                      
Heng Fai Management, Inc.          British Virgin              100%                  Provision of management
                                     Islands                                           services