SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549



                                   FORM 8-K/A

                        Amendment No. 1 to Current Report
                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934




         Date of Report (Date of Earliest Event Reported) August 1, 2001
         ---------------------------------------------------------------


                           VIKING CAPITAL GROUP, INC.
                           --------------------------
              (Exact Name of Registrant as Specified in its Charter


                                      Utah
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                 (State or Other Jurisdiction of Incorporation)


       0-22744                                                  87-0442090
- -------------------------                              -------------------------
Commission File Number                                 (IRS Employer Ident. No.)


       Two Lincoln Centre, 5420 LBJ Freeway, Ste 300, Dallas, Texas 75240
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               (Address of Principal Executive Offices) (Zip Code)


                                 (972) 386-9996
                                 --------------
              (Registrant's Telephone Number, Including Area Code)



          (Former Name or Former Address, if Changed Since Last Report)



The undersigned  registrant  hereby amends Current Report on Form 8-K with event
date  August 1, 2001 to  include  Exhibit  99.1 which is a press  release  dated
November  20,  2001.  This  amendment  also  changes the  effective  date of the
acquisition of Beijing Fei Yun Property  Development  Co.,  Ltd./Beijing Fei Yun
Viking   Enterprises  Co.,  Ltd.  due  to  certain  Peoples  Republic  of  China
requirements which,  according to the Registrant's auditor's Chinese council was
determined  that the  transaction  would not be effective  until the new company
structure for a foreign investor received its business license.

Item 7 (c),  Exhibit  99.1 the new  exhibit  begins on the page  following  this
signature page.

Pursuant to the requirements of Securities  Exchange Act of 1934, the Registrant
has duly caused this  amendment  to be signed on its behalf by the  undersigned,
thereunto duly authorized.



                                        Viking Capital Group, Inc.


Date: December 17, 2001                 /s/ Matthew W. Fossen
                                        ----------------------------
                                        Matthew W.  Fossen
                                        President, Chief Financial Officer