SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549


                                   FORM 10-QSB


            ANNUAL REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES
                              EXCHANGE ACT OF 1934


                  FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2002


                         COMMISSION FILE NUMBER: 0-26029


                          ASIAN STAR DEVELOPMENT, INC.
             ______________________________________________________
             (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)


       NEVADA                                           88-0866395
_______________________                     ____________________________________
(STATE OF ORGANIZATION)                     (I.R.S. EMPLOYER IDENTIFICATION NO.)


                        UNIT D-E, 15/F LEVER TECH CENTRE
                              69-71 KING YIP STREET
                                    KWUN TONG
                                     KOWLOON
                                    HONG KONG
                    ________________________________________
                    (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)


                                 (852) 2721-0936
               __________________________________________________
               REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE



CHECK WHETHER THE ISSUER (1) FILED ALL REPORTS REQUIRED TO BE FILED BY SECTION
13 OR 15(D) OF THE EXCHANGE ACT DURING THE PAST 12 MONTHS AND (2) HAS BEEN
SUBJECT TO SUCH FILING REQUIREMENTS FOR THE PAST 90 DAYS. YES [X]

THERE ARE 17,246,015 SHARES OF COMMON STOCK OUTSTANDING AS OF JUNE 30, 2002


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                          ASIAN STAR DEVELOPMENT, INC.




________________________________________________________________________________


              UNAUDITED CONSOLIDATED CONDENSED FINANCIAL STATEMENTS

            FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2001 AND 2002


________________________________________________________________________________





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                          ASIAN STAR DEVELOPMENT, INC.

                                   FORM 10-QSB

                                TABLE OF CONTENTS







PART 1        FINANCIAL INFORMATION


ITEM 1        CONSOLIDATED CONDENSED FINANCIAL STATEMENTS

              Consolidated  Condensed Balance Sheets as of
              December 31, 2001 and unaudited  Consolidated
              Condensed  Balance  Sheets as of June 30, 2002               F - 1

              Unaudited  Consolidated Condensed Statements
              of Operations for the Three and Six Months Ended
              June 30, 2001 and 2002                                       F - 2

              Unaudited  Consolidated Condensed Statements of
              Cash Flows for the Three and Six Months Ended
              June 30, 2001 and 2002                                       F - 3

              Notes to Consolidated Condensed Financial Statements    F - 4 to 7


ITEM 2        MANAGEMENT'S DISCUSSION AND ANALYSIS

ITEM 6.       EXHIBITS

              99.1  Certification  pursuant to 18 U.S.C. Section 1350 as adopted
                    pursuant to Section 906 of the Sarbanes-Oxley Act of 2002



SIGNAUTES


<PAGE>


ITEM 1. UNAUDITED FINANCIAL STATEMENTS

<TABLE>
<CAPTION>


                          ASIAN STAR DEVELOPMENT, INC.

                      CONSOLIDATED CONDENSED BALANCE SHEETS
                            (EXPRESSED IN US DOLLARS)


                                                                    December 31, 2001          June 30, 2002
                                                                        (audited)               (unaudited)
                                                                    _________________          _____________
<S>                                                                    <C>                       <C>

                                     ASSETS

CURRENT ASSETS
  Cash and cash equivalents                                            $          -              $   2,917
                                                                       ____________              _________
    Total current and total assets                                     $          -              $   2,917
                                                                       ============              =========

                      LIABILITIES AND SHAREHOLDERS' DEFICIT

CURRENT LIABILITIES
  Due to shareholder                                                   $          -              $  59,995
  Accrued expenses                                                                -                 18,104
                                                                       ____________              _________
    Total current and total liabilities                                $          -              $  78,099
                                                                       ============              =========
SHAREHOLDERS' DEFICIT
  Common stock, $.001 par; 1,000,000,000 shares
    authorized and 8,623, 008 outstanding                                     8,623                  8,623
  Additional paid in capital                                             19,776,856                446,326
  Retained deficit                                                      (19,785,479)              (530,131)
                                                                       ____________              _________
    Total shareholders' deficit                                                   -                (75,182)
                                                                       ____________              _________
    Total liabilities and shareholders deficit                         $          -              $   2,917
                                                                       ============              =========

</TABLE>

See the Notes to the Interim Financial Statements.


                                      F-1


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<TABLE>
<CAPTION>


                          ASIAN STAR DEVELOPMENT, INC.

                            STATEMENTS OF OPERATIONS
For the Six Months and the Three Months Ended June 30, 2002, and 2001 (Expressed in U.S. Dollars)


                                                      For the Six Months Ended             For the Three Months Ended
                                                  ________________________________       _______________________________
                                                  June 30, 2002      June 30, 2001       June 30, 2002     June 30, 2001
                                                  _____________      _____________       _____________     _____________
<S>                                                <C>                <C>                 <C>               <C>

Revenue
Revenue, net                                       $        -         $   573,447         $        -        $   299,990
Cost of goods sold                                          -            (479,680)                             (250,539)
                                                   __________         ___________         __________        ___________
Gross profit                                                -              93,767                  -             49,451

Expenses
General and administrative expenses                   (75,258)           (326,865)           (38,333)          (175,688)
Other income, net                                          76            (385,861)               (29)          (386,515)
                                                   __________         ___________         __________        ___________
Net loss before income taxes                          (75,182)           (618,959)           (38,362)          (512,752)
Provision for income taxes                                  -                   -                  -                  -
                                                   __________         ___________         __________        ___________
Net loss                                           $  (75,182)        $  (618,959)        $  (38,362)       $  (512,752)
                                                   ==========         ===========         ==========        ===========
Loss per share
- basic and diluted                                $    (0.01)        $     (0.04)        $    (0.00)       $     (0.03)
                                                   ==========         ===========         ==========        ===========
Weighted average shares outstanding
- basic and diluted                                 8,623,008          15,746,015          8,623,008         15,746,015
                                                   ==========         ===========         ==========        ===========


See Notes to the Interim Financial Statements

</TABLE>


                                      F-2


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<TABLE>
<CAPTION>


                          ASIAN STAR DEVELOPMENT, INC.

          CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited)
                          (Expressed in U.S. Dollars)


                                                                 For the Six Months Ended
                                                            _________________________________
                                                            June 30, 2002       June 30, 2001
                                                            _____________       _____________
<S>                                                           <C>                <C>

CASH FLOWS FORM OPERATING ACTIVITIES
  Net Loss                                                    $ (75,182)         $ (618,959)
  Adjustments to reconcile net loss to net cash
    to cash from operating activities:
  Depreciation and amortization                                       -             102,679
  Loss on disposal of subsidiaries                                    -             404,890
  Changes in operating assets and liabilities:
    Prepayments                                                       -              (6,973)
    Inventories                                                       -               2,100
    Other assets                                                      -               5,267
    Accounts payable                                                  -             (64,654)
    Other payables                                                    -             (24,393)
    Accrued expenses                                             18,104               9,817
                                                              _________          __________
      Net cash used in operating activities                     (57,078)           (190,226)
                                                              _________          __________

CASH FLOW FROM INVESTING ACTIVITIES
  Purchase of construction material and fixed assets                  -                (362)
                                                              _________          __________
    Net cash used in investing activities                             -                (362)
                                                              _________          __________

CASH FLOWS FROM FINANCING ACTIVITIES
  Advances from shareholder                                      59,995              79,791
                                                              _________          __________
    Net cahs from financing activities                           59,995              79,791
                                                              _________          __________
    Net increase/(Decrease) in cash and cash equivialents         2,917            (110,797)

    Cash and cash equivanelents at beginning of period                -             114,832
                                                              _________          __________
    Cash and cash equivalents at the end of period            $   2,917          $    4,035
                                                              =========          ==========

SUPPLEMETNAL INFORMATIONA AND NON CASH TRASACTIONS

During the periods ended June 30, 2002, and 2001, the Company paid no interest or taxes.

During the period ended Juen 30, 2001, the Company disposed of its investment in Shilong
Water World Project.


See the Accompanying Notes to the Interim Financial Statements

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                                      F-3


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                          ASIAN STAR DEVELOPMENT, INC.
                    NOTES TO THE INTERIM FINANCIAL STATEMENTS
                                  June 30, 2002


         1.       BASIS OF PRESENTATION
         The accompanying  unaudited  interim  financial  statements of Literary
         Playpen,  Inc.  (the  "Company")  have been  prepared by the Company in
         accordance with accounting  principles generally accepted in the United
         States of America,  pursuant to the Securities and Exchange  Commission
         rules  and  regulations.   In  management's   opinion  all  adjustments
         necessary for a fair  presentation  of the results for interim  periods
         have been reflected in the interim financial statements. The results of
         operations for any interim period are not necessarily indicative of the
         results for a full year. All  adjustments  to the financial  statements
         are of a normal recurring nature.

         Certain  information  and  footnote  disclosures  normally  included in
         financial  statements  prepared in accordance  with generally  accepted
         accounting  principles have been condensed or omitted. Such disclosures
         are those that would substantially  duplicate  information contained in
         the most recent audited  financial  statements of the Company,  such as
         significant accounting policies.  Management presumes that users of the
         interim  statements  have read or have access to the audited  financial
         statements  and notes  thereto  included in the  Company's  most recent
         annual report on Form 10KSB.

         The consolidated financial statements are reported in US Dollars ("$")

         NEW PRONOUNCEMENTS
         In May 2002 the Financial  Accounting  Standards  Board (`FASB') issued
         SFAS 145 "Rescission of FASB Statements No. 4, 44, and 64, Amendment of
         FASB Statement No. 13, and Technical  Corrections".  This pronouncement
         requires  that gains or losses  arising from early  extinguishments  of
         debt that are part of a company's  recurring  operations  (i.e., a risk
         management  strategy) would not be reported as extraordinary items. The
         statement also provides that modifications to a capital lease that make
         it an operating lease be accounted for as a sale-leaseback.  Management
         feels  that the early  adoption  of SFAS No. 145 has not had a material
         effect on the financial results.


                                      F-4


<PAGE>


                          ASIAN STAR DEVELOPMENT, INC.
                    NOTES TO THE INTERIM FINANCIAL STATEMENTS
                                  June 30, 2002


         1.       BASIS OF PRESENTATION (CONTINUED)
                  GOING CONCERN
         These financial statements have been prepared assuming that the Company
         will continue as a going  concern.  The Company  existing  cash,  other
         material  assets,  and available  credit are  insufficient  to fund the
         Company's cash flow needs for the next year.  Their ability to continue
         as a going concern is dependent on their  ability to generate  revenues
         or raise funds through sale of their equity  securities.  The directors
         and major  shareholders  have  confirmed  their  intention  to  provide
         continuing  financial  support so as to enable the Company to meets its
         liabilities as and when they fall due and carry on its business without
         significant  curtailment  of  operations  for the  foreseeable  future.
         Management  of the Company  believe it will continue as a going concern
         and  consequently  have  prepared  the  financial  statement on a going
         basis.

         2.       LAND USE RIGHTS, LAND IMPROVEMENTS AND CONSTRUCTION IN
                  PROGRESS MAPLE CITY (LAND OCCUPANCY TERM: 70 YEARS)
         The maple City  project,  which is developed by the Company,  comprises
         three  parcels  of land  which  are close to each  other.  The land use
         tights  certificates of Maple City project stipulate a lease term of 70
         years commencing from 1993 and the total area is  approximately  74,000
         square meters.  The land was  contributed by a local Chinese partner to
         the Company at no consideration.  It was the original  intention of the
         Company to build a hotel, commercial and entertainment complex on these
         parcels  of land.  The  concrete  structural  work of the  project  was
         completed by a PRC registered  and  wholly0-owned  subsidiary,  Honstar
         Entertainment  Centre Ltd. During the period no construction costs were
         incurred for this project,  as  management  prefers to hold the project
         development until a recovery of the property market in China occurs.

         In 2001  management  ascertained  that the carrying  value of the Maple
         City project may not be  recoverable  as no future cash flows from this
         project can be projected.


                                      F-5


<PAGE>



                          ASIAN STAR DEVELOPMENT, INC.
                    NOTES TO THE INTERIM FINANCIAL STATEMENTS
                                  June 30, 2002


         2.       LAND USE RIGHTS, LAND IMPROVEMENTS AND CONSTRUCTION IN
                  PROGRESS (CONTINUED)
                  MAPLE CITY (LAND OCCUPANCY TERM: 70 YEARS) (CONTINUED)
         Land usage  rights,  land  improvements  and  construction  in progress
         comprise the following:
                                            2001                2002
                                         __________            ______

         Land usage rights               $        0            $   0
         Land improvements                1,876,701                0
         Construction in progress           139,920                0
         Overhead cost                      405,761                0
                                         __________            ______
                                         $2,422,382            $   0
                                         ==========            ======

         Overhead cost represent all  accumulated  indirect cost such as project
         supervisors' salaries,  certain travel and administrative expenses, and
         legal fess related to the project.

<TABLE>
<CAPTION>



         3.       SEGMENT ANALYSIS
                                                      Six Months Ended     Six Months Ended
                                                       June 30, 2001        June 30, 2002
                                                      ________________     ________________
<S>                                                      <C>                   <C>

         Revenue
         Operating income from Cafeteria business        $ 505,929             $  0
         Contracting income from Water World                48,400                0
         Others                                             19,118                0
                                                         _________             ____
                                                           625,258                0
         Gross Profit on Contributions
         Cafeteria business                                 29,599                0
         Water World                                        48,400                0
         Others                                             15,768                0
                                                         _________             ____
                                                         $  93,767             $  0
                                                         =========             ====
</TABLE>


                                      F-6


<PAGE>



                          ASIAN STAR DEVELOPMENT, INC.
                    NOTES TO THE INTERIM FINANCIAL STATEMENTS
                                  June 30, 2002


         3.       SEGMENT ANALYSIS (CONTINUED)

                                            As of                     As of
                                      December 31, 2001            June 30, 2002
                                      _________________            _____________
         Total Assets
         Cafeteria business               $   0                       $     0
         Water World                          0                             0
         Maple City                           0                             0
         Holding Company                      0                             0
         Other                                0                         2,917
                                          _____                       _______
                                          $   0                       $ 2,917
                                          =====                       =======
         Total Liabilities
         Cafeteria business               $   0                       $     0
         Water World                          0                             0
         Maple City                           0                             0
         Holding Company                      0                             0
         Other                                0                        79,099
                                          _____                       _______
                                          $   0                       $79,099
                                          =====                       =======


                                      F-7



<PAGE>



                          ASIAN STAR DEVELOPMENT, INC.

                      Management's Discussion and Analysis


LIMITED OPERATING HISTORY; ACCUMULATED DEFICIT; NEED FOR ADDITIONAL CAPITAL

There is limited historical financial information about the Company upon which
to base an evaluation of the Company's performance or to make a decision
regarding an investment in shares of Company's Common Stock. The Company has an
accumulated deficit of $16,652,120 and $530,131 as of June 30, 2001, and June
30, 2002, respectively . The Company's cash and cash equivalents increased from
$0 at December 31, 2001 to $2,917 at June 30, 2002. The Company is currently
inactive and looking for business opportunities and the capital to implement any
such opportunities.


ITEM 6.   EXHIBITS

        99.1    Certification  pursuant to 18 U.S.C. Section 1350 as adopted
                pursuant to Section 906 of the Sarbanes-Oxley Act of 2002


<PAGE>



                                   SIGNATURES


     In accordance with the requirements of the Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.



                                     ASIAN STAR DEVELOPMENT INC.



Date:  August 19, 2002                  By: /s/ STEPHEN CHOW
                                        ____________________
                                        Name:   Stephen Chow
                                        Title:  President