UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                                    FORM 10-Q

         [X]     QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2001

                                       OR

         [ ]     TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

              FOR THE TRANSITION PERIOD FROM        TO
                                              ----      ----

                        COMMISSION FILE NUMBER: 000-26354

                            TRIMAINE HOLDINGS, INC.
             (Exact name of Registrant as specified in its charter)

               WASHINGTON                                      91-1636980
          (State  or  other  jurisdiction of                (I.R.S. Employer
          incorporation  or organization)                    Identification No.)

                                 17 DAME STREET
                                DUBLIN 2, IRELAND
                    (Address of principal executive offices)

                                (35 31) 679-1688
              (Registrant's telephone number, including area code)

Indicate by check mark whether the Registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding  12  months  (or  for such shorter period that the Registrant was
required  to  file  such  reports),  and  (2)  has  been  subject to such filing
requirements  for  the  past  90  days.       Yes    X     No
                                                   -----       -----

Indicate the number of shares outstanding of each of the Registrant's classes of
common  stock,  as  of  the  latest  practicable  date:

           Class                      Outstanding  at  November  8,  2001
           -----                      -----------------------------------
   Common  Stock,  $0.01                         15,359,397
         par  value


<PAGE>


FORWARD-LOOKING  STATEMENTS

Statements  in  this report, to the extent that they are not based on historical
events,  constitute  forward-looking  statements.  Forward-looking  statements
include,  without  limitation,  statements  regarding  the  outlook  for  future
operations, forecasts of future costs and expenditures, the evaluation of market
conditions, the outcome of legal proceedings, the adequacy of reserves, or other
business  plans.  Investors  are  cautioned  that forward-looking statements are
subject  to  an inherent risk that actual results may vary materially from those
described  herein.  Factors  that  may  result  in such variance, in addition to
those  accompanying  the forward-looking statements, include changes in interest
rates,  prices  and  other  economic conditions; actions by competitors; natural
phenomena;  actions  by  government  and  regulatory  authorities; uncertainties
associated  with  legal proceedings; technological development; future decisions
by management in response to changing conditions; and misjudgments in the course
of  preparing  forward-looking  statements.


                        PART  I.  FINANCIAL  INFORMATION
                                  ----------------------

ITEM  1.  FINANCIAL  STATEMENTS



                            TRIMAINE HOLDINGS, INC.

                        CONSOLIDATED FINANCIAL STATEMENTS

                  FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2001

                                    (UNAUDITED)


<PAGE>


                            TRIMAINE HOLDINGS, INC.
                          CONSOLIDATED BALANCE SHEETS
                                  (UNAUDITED)
                             (DOLLARS IN THOUSANDS)


<TABLE>
<CAPTION>

                                                 SEPTEMBER 30, 2001    DECEMBER 31, 2000
                                                 -------------------  -------------------
<S>                                              <C>                  <C>
                                     ASSETS

Current Assets
  Cash and cash equivalents                      $             4,387  $            2,721
  Accounts receivable                                             58               3,481
  Receivable from affiliates                                      42                 445
  Note receivable                                              1,111                   -
  Real estate held for development and sale                    1,044                 896
  Other assets                                                     6                   -
                                                 -------------------  ------------------
      Total current assets                                     6,648               7,543

Investments                                                   15,818              10,128
                                                 -------------------  ------------------
                                                 $            22,466  $           17,671
                                                 ===================  ==================


                      LIABILITIES AND SHAREHOLDERS' EQUITY

Liabilities
  Accounts payable                               $                69  $              100
  Accrued liabilities                                            161                 123
  Deferred tax liabilities                                     1,688                 225
  Income tax liabilities                                         404                   -
                                                 -------------------  ------------------
      Total current liabilities                                2,322                 448

Shareholders' Equity
  Preferred stock                                                  1                   1
  Common stock                                                   154                 158
  Additional paid-in capital                                  16,372              16,468
  Retained earnings                                                1                 734
  Accumulated other comprehensive income (loss)                3,616                (138)
                                                 -------------------  ------------------
      Total equity                                            20,144              17,223
                                                 -------------------  ------------------
                                                 $            22,466  $           17,671
                                                 ===================  ==================


</TABLE>


   The accompanying notes are an integral part of these financial statements.


<PAGE>


                             TRIMAINE HOLDINGS, INC.
      CONSOLIDATED STATEMENTS OF OPERATIONS AND RETAINED EARNINGS (DEFICIT)
                                   (UNAUDITED)
                (DOLLARS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)


<TABLE>
<CAPTION>


                                                           FOR THE NINE          FOR THE NINE
                                                           MONTHS ENDED          MONTHS ENDED
                                                        SEPTEMBER 30, 2001    SEPTEMBER 30, 2000
                                                       --------------------  --------------------
<S>                                                    <C>                   <C>
Revenues
  Sale of real estate                                  $                 -   $             4,542
  Dividend income                                                      270                   281
  Loss on sale of investment                                             -                (1,991)
  Other                                                                153                   158
                                                       -------------------   -------------------
                                                                       423                 2,990
                                                       -------------------   -------------------

Costs and expenses
  Cost of real estate sold and related selling costs                     -                 1,961
  General and administrative expenses                                  900                   384
  Real estate taxes                                                     14                    15
  Interest                                                               9                   163
                                                       -------------------   -------------------
                                                                       923                 2,523
                                                       -------------------   -------------------

Income (loss) before income tax                                       (500)                  467

Income tax expenses (benefits)                                         (67)                  166
                                                       -------------------   -------------------

Net income (loss)                                                     (433)                  301

Retained earnings (deficit), beginning of period                       734                  (708)
Dividend paid on preferred shares                                     (300)                 (300)
                                                       -------------------   -------------------
Retained earnings (deficit), end of period             $                 1   $              (707)
                                                       ===================   ===================

Basic earnings (loss) per share                        $             (0.04)  $              0.00
                                                       ===================   ===================


</TABLE>


   The accompanying notes are an integral part of these financial statements.


<PAGE>


                             TRIMAINE HOLDINGS, INC.
      CONSOLIDATED STATEMENTS OF OPERATIONS AND RETAINED EARNINGS (DEFICIT)
                                   (UNAUDITED)
                (DOLLARS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)


<TABLE>
<CAPTION>


                                               FOR THE THREE         FOR THE THREE
                                                MONTHS ENDED          MONTHS ENDED
                                             SEPTEMBER 30, 2001    SEPTEMBER 30, 2000
                                            --------------------   --------------------
<S>                                         <C>                    <C>
Revenues
  Loss on sale of investment                $                 -   $            (1,986)
  Other                                                      49                    50
                                            -------------------   -------------------
                                                             49                (1,936)
                                            --------------------  -------------------

Costs and expenses
  General and administrative expenses                       300                    97
  Real estate taxes                                           4                     5
  Interest                                                    2                     2
                                            -------------------   -------------------
                                                            306                   104
                                            -------------------   -------------------

Loss before income tax                                     (257)               (2,040)

Income tax benefit                                         (229)                 (686)
                                            -------------------   -------------------

Net loss                                                    (28)               (1,354)

Retained earnings, beginning of period                       29                   647
                                            -------------------   -------------------
Retained earnings (deficit), end of period  $                 1   $              (707)
                                            ===================   ===================

Basic loss per share                        $             (0.01)  $             (0.09)
                                            ===================   ===================


</TABLE>


   The accompanying notes are an integral part of these financial statements.


<PAGE>


                             TRIMAINE HOLDINGS, INC.
                 CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
                                   (UNAUDITED)
                             (DOLLARS IN THOUSANDS)


<TABLE>
<CAPTION>


                                                    FOR THE NINE         FOR THE NINE
                                                    MONTHS ENDED         MONTHS ENDED
                                                 SEPTEMBER 30, 2001   SEPTEMBER 30, 2000
                                                --------------------  -------------------
<S>                                             <C>                   <C>
Net income (loss)                               $              (433)  $               301

Other comprehensive gain:
  Unrealized gain on securities, net of taxes                 3,754                 1,171
                                                -------------------   -------------------

Total comprehensive income                      $             3,321   $             1,472
                                                ===================   ===================


</TABLE>


   The accompanying notes are an integral part of these financial statements.


<PAGE>


                             TRIMAINE HOLDINGS, INC.
                 CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
                                   (UNAUDITED)
                             (DOLLARS IN THOUSANDS)


<TABLE>
<CAPTION>


                                      FOR THE THREE             FOR THE THREE
                                      MONTHS ENDED              MONTHS ENDED
                                      SEPTEMBER 30,2001         SEPTEMBER 30, 2000
                                      ------------------        -------------------
<S>                                   <C>                        <C>
Net loss                              $              (28)        $           (1,354)

Other comprehensive gain:
  Unrealized gain on securities                      281                      1,271
                                      ------------------         ------------------

Total comprehensive income (loss)     $              253         $              (83)
                                      ==================         ==================


</TABLE>


   The accompanying notes are an integral part of these financial statements.


<PAGE>


                             TRIMAINE HOLDINGS, INC.
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)
                             (DOLLARS IN THOUSANDS)


<TABLE>
<CAPTION>


                                                           FOR THE NINE          FOR THE NINE
                                                           MONTHS ENDED          MONTHS ENDED
                                                        SEPTEMBER 30, 2001    SEPTEMBER 30, 2000
                                                       --------------------  --------------------
<S>                                                    <C>                   <C>
Cash Flows from Operating Activities:
  Net income (loss) from operation                     $              (433)  $               301
  Adjustments to reconcile net income (loss) to
   net cash provided by operating activities
    Loss on sale of investments                                          -                 1,991
    Amortization                                                         -                    34

  Changes in current assets and liabilities:
    Accounts receivable                                              3,423                     -
    Real estate held for development and sale                         (148)                1,608
    Prepaid and other assets                                            (6)                   66
    Receivable from affiliates                                         403                    44
    Deferred tax                                                      (473)                  166
    Income tax liabilities                                             404                     -
    Accounts payable and accrued liabilities                             7                   (38)
    Other                                                                -                    50
                                                       -------------------   -------------------
      Net cash provided by operating activities                      3,177                 4,222

Cash Flows from Investing Activities:
  Increase in note receivable                                       (1,111)                    -
  Purchase of available-for-sale securities                              -                (4,138)
  Proceeds from sale of available-for-sale securities                    -                 3,647
                                                       -------------------   -------------------
      Net cash used in investing activities                         (1,111)                 (491)

Cash Flows from Financing Activities:
  Repurchase of common shares                                         (100)                    -
  Dividend                                                            (300)                 (300)
  Payment of debt                                                        -                (2,259)
                                                       -------------------   -------------------
      Net cash used in financing activities                           (400)               (2,559)
                                                       -------------------   -------------------

Increase in cash and cash equivalents                                1,666                 1,172
Cash and cash equivalents, beginning of period                       2,721                 2,072
                                                       -------------------   -------------------
Cash and cash equivalents, end of period               $             4,387   $             3,244
                                                       ===================   ===================


</TABLE>


   The accompanying notes are an integral part of these financial statements.


<PAGE>


                            TRIMAINE HOLDINGS, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                               SEPTEMBER 30, 2000
                                  (UNAUDITED)


NOTE  1.  BASIS  OF  PRESENTATION

The  interim period consolidated financial statements contained herein have been
prepared  by  the Registrant pursuant to the rules and regulations of the United
States  Securities  and  Exchange  Commission.  Certain information and footnote
disclosures  normally  included  in  financial statements prepared in accordance
with  generally  accepted  accounting  principles have been condensed or omitted
pursuant  to such rules and regulations.  These interim period statements should
be  read  together  with  the  audited  consolidated  financial  statements  and
accompanying  notes  included  in  the Registrant's latest annual report on Form
10-K  for  the  year ended December 31, 2000.  In the opinion of the Registrant,
the  unaudited  consolidated  financial  statements contained herein contain all
adjustments  necessary  in  order to present a fair statement of the results for
the  interim  periods  presented.

NOTE  2.  EARNINGS  (LOSS)  PER  SHARE

Basic earnings (loss) per share is computed by dividing income or loss available
to  common  shareholders  by  the  weighted average number of shares outstanding
during  the  period.  The  weighted  average  number  of  shares outstanding was
15,718,615 and 15,837,808 for the nine month periods ended September 30, 2001
and 2000,  respectively.


<PAGE>


                         PART I.  FINANCIAL INFORMATION
                                  ---------------------

ITEM  2.  MANAGEMENT'S  DISCUSSION  AND  ANALYSIS OF FINANCIAL CONDITION AND
          RESULTS  OF  OPERATIONS

The following discussion and analysis of the results of operations and financial
condition  of TriMaine Holdings, Inc. (the "Corporation") for the nine and three
month  periods  ended  September 30, 2001 should be read in conjunction with the
consolidated  financial  statements and related notes included elsewhere herein.

RESULTS  OF  OPERATIONS  -  NINE  MONTHS  ENDED  SEPTEMBER  30,  2001

Revenues  decreased to $0.4 million for the nine months ended September 30, 2001
from  $3.0  million for the comparable period of 2000.  In 2000, the Corporation
sold a 29.34 acre parcel of land in Gig Harbor, Washington for gross proceeds of
approximately $4.5 million, which was partially offset by a $2.0 million loss on
sale  of  investments.

Costs  and  expenses  for  the  nine  months  ended September 30, 2001 were $0.9
million  compared  to  $2.5  million  in the same period in 2000.  The costs and
expenses  in  2000 were incurred primarily in  connection  with  the  sale  of
real property.

Income tax benefits for the nine months ended September 30, 2001 were $67,000 as
a  result  of  the utilization of a deferred tax benefit, compared to income tax
expenses  of  $0.2  million  in  the  same  period  in  2000.

Net loss for the nine months ended September 30, 2001 was $0.4 million, or $0.04
per  common share, compared to net earnings of $0.3 million, or $0.00 per common
share,  for  the  nine  months  ended  September  30,  2000.

RESULTS  OF  OPERATIONS  -  THREE  MONTHS  ENDED  SEPTEMBER  30,  2001

Revenues increased to $49,000 for the three months ended September 30, 2001 from
$(1.9  million)  for the comparable period of 2000, primarily as a result of the
loss  on  sale  of  investments  in  2000.

Costs and expenses increased to $0.3 million in the three months ended September
30,  2001,  compared  $0.1  million  the  three months ended September 30, 2000,
primarily  as  a  result  of an increase in general and administrative expenses.

Net loss for the three months ended September 30, 2001 was $28,000, or $0.01 per
common  share,  compared to net loss of $1.4 million, or $0.09 per common share,
for  the  three  months  ended  September  30,  2000.


<PAGE>


LIQUIDITY  AND  CAPITAL  RESOURCES

The  Corporation  had cash and cash equivalents of $4.4 million at September 30,
2001,  compared  to  $2.7  million  at  December  31,  2000.

Operating  activities  provided  cash  of  $3.2 million in the nine months ended
September  30, 2001, compared to $4.2 million in the nine months ended September
30, 2000.  Receivables from affiliates provided cash of $0.4 million in the nine
months  ended  September  30,  2001,  compared  to $44,000 during the comparable
period  in  2000.  Accounts receivable provided cash of $3.4 million in the nine
months  ended  September  30, 2001, compared to $nil in the comparable period in
2000.  Real  estate  held  for development and sale used cash of $0.1 million in
the  nine  months  ended  September 30, 2001, compared to providing cash of $1.6
million  in  the  comparable  period  of  2000.

Investing  activities  in  the nine months ended September 30, 2001 used cash of
$1.1  million, compared to $0.5 million in the same period in 2000, primarily as
a  result  of  an  increase  in a  note  receivable.

Financing  activities  used  cash  of  $0.4  million  in  the  nine months ended
September  30,  2001,  compared  to  $2.6  million used in the nine months ended
September 30, 2000, primarily as a result of a decrease in the payment of debts.
The  Corporation  paid  $0.3  million in dividends on its preferred stock in the
nine  months  ended  September  30,  2001  and  2000,  respectively.

The  Corporation  has no commitments for capital expenditures in relation to its
undeveloped  real  estate,  although  it  may  need  to  provide  funds  for
pre-development  work on certain parcels in order to enhance their marketability
and  sale  value.

The  Corporation  believes that its assets should enable the Corporation to meet
its  current  ongoing  liquidity  requirements.


ITEM  3.  QUANTITATIVE  AND  QUALITATIVE  DISCLOSURES  ABOUT
          MARKET  RISK

Reference is made to the Corporation's annual report on Form 10-K for the fiscal
year ended December 31, 2000 and the Corporation's quarterly report on Form 10-Q
for  the  six months ended June 30, 2001 for information concerning market risk.
The  Corporation  believes  that  there  were no material changes in market risk
since  June  30,  2001.


<PAGE>


                           PART II.  OTHER INFORMATION
                                     -----------------

ITEM  1.  LEGAL  PROCEEDINGS

Reference is made to the Corporation's annual report on Form 10-K for the fiscal
year  ended  December  31,  2000  for  information concerning legal proceedings.

ITEM  4.  SUBMISSION  OF  MATTERS  TO  A  VOTE  OF  SECURITY  HOLDERS

The  Corporation  held  its annual meeting of shareholders on July 11, 2001.  At
the  meeting, Roy Zanatta was elected as a Class III director of the Corporation
for a term expiring at the annual meeting of shareholders in 2004 and Woon Hyung
Lee  was appointed as a Class II director of the Corporation for a term expiring
at  the  annual  meeting  of  shareholders  in 2003.  The voting results for the
election  of  directors  were  as  follows:


<TABLE>
<CAPTION>


                                                           ABSTENTIONS AND
                   VOTES FOR         VOTES WITHHELD        BROKER NON-VOTES
                ---------------      --------------        ----------------
<S>             <C>                  <C>                   <C>
Roy Zanatta          10,258,339           5,951                 -
Woon Hyung Lee       10,258,339           5,951                 -
</TABLE>


Mr.  Lee resigned as a director of the Corporation effective October 5, 2001 and
Young  Soo  Ko  was  appointed  as a Class II director in his place on that same
date.


ITEM  6.  EXHIBITS  AND  REPORTS  ON  FORM  8-K

None.


<PAGE>


                                   SIGNATURES


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


Dated:  November  12,  2001               TRIMAINE  HOLDINGS,  INC.


                                          By:  /s/  Michael  J.  Smith
                                               -----------------------
                                               Michael  J.  Smith,
                                               President,  Chief
                                               Financial  Officer  and
                                               Director