An ex-CIA agent (Kathy Gallagher) living in Indonesia tracks Ludvig Hauptman, the arms dealer who killed her husband. Along the way, she meets a young boy and his grandfather, who teach her in the ways of the Lady Dragon.
An empty space in a hangar is going to be the scene for a death fight between a local Thai kick-boxer, Ringo (Advent Bangun) with vociferous crowd support, and a lonely visitor. The local man is topless, showing his muscles proudly, the newcomer advances in dainty steps, hip swagging like a girl, takes off the black hood to show a stunningly beautiful, blue eyed blonde, Kathy Gallagher (Cynthia Rothrock). Mr. Chin (H.I.M. Damsyik), a Chinese gambling lord, gives the signal and the combat is on. Somewhat, some of the Thai are betting heavily on the small woman. The fight is long, and tough, and victory see-saws between both fighters. Each time the woman goes to the ground, her black sweat suit gets dirtier, but she stands up to fight harder. She absorbs plenty of hard blows, but she fights her opponent evenly. A fight to the finish it is, but a clean, loyal fight. It could go either way. In the end, the man can't stand up, despite his seconds' efforts to help him stand, and he collapses face down on the cement floor of the hangar. The girl accepts the compliments of happy winners, nonchalantly, as if her heart was not there, and goes out in a hurry to catch Mr. Chin before he goes out with the prize money due for her performance.
She stops at a derelict bar before going to her derelict hotel room, and orders a double vodka. An American man who had been present at the hangar show introduces himself: Gibson (Robert Ginty), who had been the best friend of Johnny Gallagher, when they were "Company" (CIA) agents and friends. Then, she had fallen in love and married Gallagher (Thomas Forcher), only to see him shot dead on the church's steps, when they were going down to their honeymoon. Now Kathy Gallagher, a virgin widow, has resigned from her undercover job, and doesn't care for her looks anymore, intent in gaining money to survive until she gets the man she suspects ordered the killing of her husband, Ludwig Hauptmann (Richard Norton), a German drug lord with an Australian past, now living in the Jalan Raya district of Thailand. Gibson tries to talk her out of her vengeance, in vain, and warns her, "Life is a bitch, and then you die."
That night, at her place, Kathy puts on dark make-up, a black wig, and dons a daring night dress, becoming a high priced whore. She goes to the Super Star Discotheque, where she expects to find Hauptmann, and passes Andre (Gino Makasutji), the doorman without bribing him, because he had been one of the men winning bets on her fight that morning. Passing by an imposing bouncer she pauses for a moment at the entrance startled at the current show at the large, luxurious bar: two buxom Thai women rolling about in a large mud-pool, flanked by a series of mirrors as an entertained crowd cheers them on. Kathy moves in closer the long haired black topped Mud-wrestler (Lydia Febriani) and the short haired red topped Mud-wrestler (Ruby Rimba) wrestle briefly in the middle of the ring before the long haired wrestler is forced down into the mud by her opponent. The camera pans back and forth between Kathy and the two struggling women as they grapple, the black topped wrestler tugging at hair and the red topped wrestler responding in kind and rolling about in the mud repeatedly. The two have been clearly wrestling for some time now as both are breathing heavily as it becomes obvious that the red topped wrestler is in control, forcing the smaller woman down into the mud as the crowd cheers. The longer haired wrestler gains a brief control as they roll but is kicked away by her opponent who can be heard demanding that she stop pulling her hair. Kathy finally leaves in disgust as the two circle and the sounds of their struggle continues
Then Kathy walks towards Mr. Hauptmann, who looks bigger and stronger in contrast with the beautiful girl swooning over him, Susan (Bella Esperance). Several bar patrons try to intercept Kathy showing her money, and one grabs her. She acts quick, and the man flies three feet, to crash onto a lower glass table with aperitifs and drinks. Ludwig's bodyguard is a bald head giant, who stands imperiously in Kathy's path. She fights and escapes him, then she takes on and defeats several other henchmen before escaping back to the bar...only to be blocked by the bouncer whom she passed earlier. She responds to his smirk with a smile and a side kick, which send him crashing in between the two mud wrestlers as they circle the mud pit. In response both women pin down the bouncer, pulling at his hair.
With the crowd distracted Kathy attempts to flee the nightclub, only to be held up by another bodyguard who has a pistol to her head. Ludwig interrogates her about her identity, aims and accomplices, but she stubbornly refuses to talk, is slapped hard, and tumbles upon a large bed, blood trickling down the corner of her mouth. Ludwig takes off his coat and says, "I'll give you exquisite pain, pain of which dreams are made of!" He rapes her then [off-camera, while the camera focuses successively upon enlarged picture shots of girls in bikinis posted on the walls].
In the middle of the night, Kathy is thrown out of a black Mercedes into a rice field. She has been destroyed both physically and mentally. A Boy (Diaz Tangkilisan) and his Grandfather (Pitradjaya Burnama) find her at sunrise, and help her to recover. The old man is mute, but his grandson interprets his gestural language [into English] conveying his kickboxing instructions, and philosophy: "Nothing very very good, nothing very very bad, lasts long. That is karma."
The Boy is sent to Kathy's hotel to bring the small treasure she had hidden in a wood bench, and he makes a difficult escape from Andre (Gino Makasutji), who dies in a nasty fall from the rooftop, after a surprising kick in the chest by the boy.
At Hauptmann's mansion, he is having sex with Susan.
At the old man's place, Kathy has a long period of rest, and kick-boxing training in the beautiful scenery of rice fields and bamboo woods, and then she parts with her friends to achieve her purpose of vengeance.
Meanwhile, Sonny Henry Surentu, an undercover agent, is caught by Ludwig and his men in a warehouse, and fights for his life. When he thinks he may win the brutal fight, Ludwig kills him with a gun shot.
To get into Ludwig's well guarded secrets, Kathy decides to spy on his "Imperial Export" company. She throws herself in front of Susan's car, and accepts her generous help - sleeping at her home, and working for her as secretary. Susan goes in her errands - that is, providing girls for Ludwig to beat up, giving vent to his sadistic character. Kathy stays home going through her documents in search of evidence against Ludwig. When Susan comes back, drunken, Kathy helps herself of the keys from her purse. With Susan's keys, Kathy enters the warehouse and finds toxic gas canisters labeled as powder milk. She is efficient, but loses a battle against four Security Guards, and is about to be shot when one of the men reveals his true identity: a police officer. He loses his cover, but she gains her life.
One day Ludwig sees Kathy at Susan's office, gets suspicious, finds a way of scrutinizing her finger prints, then forces her to attend a Sunday party. At the luxuriously villa, Mr Hauptmann offers Kathy and his other guests, a show: "Man's favorite sport - acquisition of wealth!", and he points to four girls in bikinis on the border of the large pool. Then he holds up a big diamond, throws it into the pool, and the concept is clear: the winner will win the jewel. The girls jump in, in quick succession (Silvia Sitha Dewi, Linda, Ita Tanjung, Angela Veiny), and dive into the pool. To get at the diamond, they fight each other, pulling hair and scratching faces and bodies. Mr Hauptmann is obviously enjoying the show, to the great disgust of Kathy, still acting under her false identity. He remarks to her that two of the girls in the pool are sisters, then clarifies that it's the two that're hitting each other the hardest. Kathy grimaces as he continues that "Greed is such a motivator!" Finally one girl emerges, victorious, and Hauptmann goes inside with Kathy.
He fights three of his Guards at once (Ricky Hosada, Feilung Efendy, Agus Mukhlis) to impress her, then he reveals he knows everything about her, and prepares to kill her. She surprises him with a low blow, and Ludwig goes down holding his crotch. Gibson is present too, and as he says, he has got the gun, and he aims it at her. Kathy jumps aside and grabs a machine gun from a gun display shelf. "Mine is bigger!" she exclaims in macho fashion. Holding the machine-gun to her chest, she empties the gun on the traitor CIA agent. She looks down at his body, and comments with his own words, "Life is definitely a bitch, and then you die." Then she jumps off the window, assaults a man on a motorbike, and escapes, giving the "finger up" sign to Ludwig who came to the balcony window then.
The hunt for her on the motorway and through a road market is spectacular, but the three cars used for the purpose are successively put out of the road, and Kathy escapes. She stops in front of Ludwig's warehouse and uses the missile launcher attached to the motorbike to blow up the place. Shortly afterwards, in retaliation, Susan heads a group of henchmen who burn down the wooden house of Kathy's friends. "An eye for an eye, Gallagher!"
Kathy goes to Susan's home again. She's there, surprised that the blonde has the cheek to return there. They discuss, Susan is outraged, "You think you're better than me?" but she is not of the fighting kind. Susan just tells Kathy a message from her master: "He challenges you to a fight to the death at the slaughterhouse Mr. Chin uses. Tonight, at 8 P.M." Then Susan tries to blow a good-bye kiss to Kathy, pouting her lips and touching her long, well manicured pointer finger, and takes it to Kathy's lips, but Kathy slaps the approaching hand away, time and again.
Mr. Chin shows how well informed he is about grudge fights by patronizing this one, and betting on the outcome again. Ludwig strips to his trousers, Kathy keeps her light blue jacket over her light colored T-shirt and blue trousers. It is again a fight to the finish. Ludwig gains an early upper hand, and dives upon a supine adversary. He wrestles her down, pressing on her at body's length, saying "I think I will rape you again, before I kill you." This gives Kathy that bit more incentive, and despite she has to take a terrific beating, she wins. She is posed for the kill when Susan arrives, a gun pointed to the old man's head, and the frightened boy in her reach. Kathy steps back, unwilling to risk their lives, and Ludwig takes the occasion to beat her savagely, starting with a heavy punch to the crotch. "A pain dreams are made of," he recalls her. After a while, Kathy looks a ragged doll in the floor of the slaughterhouse, another lamb offered to the sadist killer by Susan.
The police arrives silently, just in time to arrest Susan, though the officer in command allows the combat to go on. Kathy is so incensed by her revenge that she makes it up to her feet, and renews her attacks, taking the big man down with a flying neck-scissors, and then kicking him successfully to the head and face. The last touch is an expected kick between his wide open legs, when he is staggering around. He owls as he grabs his smashed manhood, and falls at her feet.
With the criminals arrested, Kathy winner of a suitcase full of bet money to help her friends rebuild their house, and their lives, it is time for her to tell the Boy, "Nothing very very good, nothing very very bad, lasts long."