The provisional liquidators of Ming Fung Group firms, KPMG Peat Marwick, estimate the companies suffer a $246 million shortfall.

The provisional liquidators' preliminary investigations show the collapsed group faces total investor claims of $328 million. Of these, $290 million represents claims to shares. The stock held by the group on behalf of investors was estimated to amount to just $44 million, leaving a $246 million shortfall.

The group also owes $20 million to banks which hold cash of about $25 million as well as other security.