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                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549

                                 SCHEDULE 13G
                                (Rule 13d-102)


             INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
           TO RULES 13d-1(b),(c) AND (d) AND AMENDMENTS THERETO FILED
                           PURSUANT TO RULE 13d-2(b)

                               (Amendment No.)


					PEAK INTERNATIONAL LTD
-------------------------------------------------------------------------------
                                (Name of Issuer)

					Common Stock
-------------------------------------------------------------------------------
                         (Title of Class of Securities)

					G69586108
-------------------------------------------------------------------------------
                                 (CUSIP Number)

		December 31, 2001
-------------------------------------------------------------------------------
            (Date of Event Which Requires Filing of this Statement)

     Check the  appropriate  box to  designate  the rule  pursuant to which
this  Schedule is filed:

          [X]  Rule 13d-1(b)

          [_]  Rule 13d-1(c)

          [_]  Rule 13d-1(d)

	[ ]  Rule 13d-2(c)
----------
(1)  The  remainder  of this  cover  page  shall be filled  out for a
reporting person's  initial  filing on this form with respect to the subject
class of securities,  and for any subsequent amendment containing  information
which would alter the disclosures provided in a prior cover page.

     The  information  required in the remainder of this cover page shall not
be deemed to be "filed" for the purpose of Section 18 of the  Securities
Exchange Act of 1934 or otherwise  subject to the  liabilities of that section
of the Act  but  shall be  subject  to all other  provisions  of the Act
(however,  see the Notes).



PAGE  2
CUSIP No. G69586108                  13G                    Page 2 of 5 Pages


_______________________________________________________________________________
1.   NAME OF REPORTING PERSONS
     I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)

		Merrill Lynch, Pierce, Fenner & Smith Inc.
			13-5674085
_______________________________________________________________________________
2.   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                 (a)  [_]
                                                                 (b)  [_]

_______________________________________________________________________________
3.   SEC USE ONLY



_______________________________________________________________________________
4.   CITIZENSHIP OR PLACE OF ORGANIZATION

		Delaware

_______________________________________________________________________________
  NUMBER OF    5.   SOLE VOTING POWER

   SHARES           	675,000

_________________________________________________________________
BENEFICIALLY   6.   SHARED VOTING POWER

  OWNED BY          	NONE

_________________________________________________________________
    EACH       7.   SOLE DISPOSITIVE POWER

  REPORTING         	675,000

_________________________________________________________________
   PERSON      8.   SHARED DISPOSITIVE POWER

    WITH            	NONE
_______________________________________________________________________________
9.   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

				675,000
_______________________________________________________________________________
10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

                                                                          [_]
_______________________________________________________________________________
11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

				5.01%
_______________________________________________________________________________
12.  TYPE OF REPORTING PERSON*

				BD, CO
_______________________________________________________________________________
                     *SEE INSTRUCTIONS BEFORE FILLING OUT!

PAGE  3
CUSIP No. G69586108                  13G                    Page 3 of 5 Pages

_______________________________________________________________________________
Item 1(a).  Name of Issuer:

		PEAK INTERNATIONAL LTD

_______________________________________________________________________________
Item 1(b).  Address of Issuer's Principal Executive Offices:

       UNITS 4, 5 & 7 37TH FL WHARF CABLE TOWER
                    9HOI SHING RD
	TSUEN WAN, K3
_______________________________________________________________________________
Item 2(a).  Name of Person Filing:

		Merrill Lynch, Pierce, Fenner & Smith Inc.

_______________________________________________________________________________
Item 2(b).  Address of Principal Business Office, or if None, Residence:

		Four World Financial Center, North Tower
		New York, New York 10080
_______________________________________________________________________________

Item 2(c).  Citizenship:

		SEE ITEM 4 OF COVER PAGES
_______________________________________________________________________________
Item 2(d).  Title of Class of Securities:

		SEE COVER PAGE
_______________________________________________________________________________
Item 2(e).  CUSIP Number:

		SEE COVER PAGE
_______________________________________________________________________________
Item 3.     If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b)
            or (c), Check Whether the Person Filing is a:

    (a)  [X]  Broker or dealer registered under Section 15 of the Exchange Act.
    (b)  [_]  Bank as defined in Section 3(a)(6) of the Exchange Act.
    (c)  [_]  Insurance  company as defined in Section 3(a)(19) of the Exchange
               Act.
    (d)  [_]  Investment  company  registered under Section 8 of the Investment
               Company Act.
    (e)  [_]  An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);
    (f)  [_]  An employee  benefit plan or endowment  fund in  accordance  with
               Rule 13d-1(b)(1)(ii)(F);
    (g)  [_]  A parent  holding  company or control  person in accordance  with
               Rule 13d-1(b)(1)(ii)(G);
    (h)  [_]  A savings  association  as defined in Section 3(b) of the Federal
               Deposit Insurance Act;
    (i)  [_]  A church plan that is excluded from the definition of an
               investment company under Section 3(c)(14) of the Investment
               Company Act;
    (j)  [_]  Group, in accordance with Rule 13d-1(b)(1)(ii)(J).


    If this statement is filed pursuant to Rule 13d-1(c), check this box.   [_]

PAGE  4
CUSIP No. G69586108                    13G                    Page 4 of 5 Pages


Item 4.  Ownership.

     Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.

     (a)  Amount beneficially owned:		SEE ITEM 9 OF COVER PAGES

     (b)  Percent of class:			SEE ITEM 11 OF COVER PAGES

     (c)  Number of shares as to which such person has:

          (i)   Sole power to vote or to direct the vote:
SEE ITEM 5 OF COVER PAGES
          (ii)  Shared power to vote or to direct the vote:
							SEE ITEM 6 OF COVER PAGES
          (iii) Sole power to dispose or to direct the disposition of:
							SEE ITEM 7 OF COVER PAGES
          (iv)  Shared power to dispose or to direct the disposition of
							SEE ITEM 8 OF COVER PAGES
_____________________________________________________________________________
Item 5.  Ownership of Five Percent or Less of a Class.

			If this statement is being filed to report the fact that as
of the date hereof the reporting person has ceased to be the beneficial owner
of more than 5 percent of the class of securities, check the following [ ]
_______________________________________________________________________________
Item 6.  Ownership of More Than Five Percent on Behalf of Another Person.

NOT APPLICABLE
_______________________________________________________________________________

Item 7.  Identification and Classification of the Subsidiary Which Acquired the
         Security Being Reported on by the Parent Holding Company.

			NOT APPLICABLE
_______________________________________________________________________________
Item 8.  Identification and Classification of Members of the Group.

			NOT APPLICABLE
_______________________________________________________________________________
Item 9.  Notice of Dissolution of Group.

			NOT APPLICABLE
_______________________________________________________________________________



PAGE  5
CUSIP No. G69586108                    13G                    Page 5 of 5 Pages


Item 10.  Certifications.

By signing below each of the undersigned certifies that, to the best of
their knowledge and belief, the securities referred to above were
acquired and are held in the ordinary course of business and were not
acquired and are not held for the purpose of or with the effect of
changing or influencing  the control of the issuer of the securities and
were not acquired and are not held in connection with or as a participant
in any  transaction having that purpose or effect.







                                    SIGNATURE

After  reasonable  inquiry and to the best of my knowledge and belief, the
undersigned certifies that the information set forth in this statement is true,
complete and correct.



Date: February 14, 2002


Merrill Lynch, Pierce, Fenner & Smith Inc.


/s/
----------------------------------------
Name: Lawrence M. Egan
Title: Attorney-In-Fact*




----------------------------------------
* Executed pursuant to a Power of Attorney, dated November 17, 1995, a copy of
which is attached hereto as Exhibit A.







Exhibit A to Schedule 13G


Power of Attorney

The undersigned, Merrill Lynch & Co., Inc. (the Corporation), a
corporation duly organized under the laws of Delaware, with its
principal place of business at World Financial Center, North Tower, 250
Vesey Street, New York, New York 10281 does hereby make, constitute and
appoint Richard B. Alsop, Richard D. Kreuder, Andrea Lowenthal, Gregory
T. Russo, or any other individual from time to time elected or
appointed as secretary or an assistant secretary of the Corporation,
acting severally, each of whose address is Merrill Lynch & Co., Inc.,
World Financial Center, North Tower, 250 Vesey Street, New York, New
York 10281, as its true and lawful attorneys-in-fact, for it and in its
name, place and stead (i) to execute on behalf of the Corporation and
cause to be filed and/or delivered, as required under Section 13(d) of
the Securities Exchange Act of 1934 (the "Act") and the regulations
thereunder, any number, as appropriate, of original, copies, or
electronic filings of the Securities and Exchange Commission Schedule
13D or Schedule 13G Beneficial Ownership Reports (together with any
amendments and joint filing agreements under Rule 13d-1(f) (1) of the
Act, as may be required thereto) to be filed and/or delivered with
respect to any equity security (as defined in Rule 13d-1(d) under the
Act) beneficially owned by the undersigned and which must be reported
by the undersigned pursuant to Section 13(d) of the Act and the
regulations thereunder, (ii) to execute on behalf of the Corporation
and cause to be filed and /or delivered, any number, as appropriate,
of original, copies or electronic filings of any forms (including
without limitation), Securities and Exchange Commission Forms 3, 4 and
5) required to be filed pursuant to Section 16 (a) of the Act and the
regulations thereunder, and (iii) generally to take such other actions
and perform such other things necessary to effectuate the foregoing as
fully in all respects as if the undersigned could do if personally
present.  This Power of Attorney shall remain in effect until revoked,
in writing, by the undersigned.


	IN WITNESS WHEREOF, the undersigned has executed this Power of
Attorney, this 17th day of November 1995.



				MERRILL LYNCH & CO., INC.


				By:   /s/ David H. Komansky
				Name:	David H. Komansky
				Title:President and Chief Operating Officer