TCRAP_Public/010307.MBX      T R O U B L E D   C O M P A N Y   R E P O R T E R

                  A S I A   P A C I F I C

         Wednesday, March 7, 2001, Vol. 4, No. 46

                        Headlines

A U S T R A L I A

MAXIS CORPORATION: Creditors Adjourn Meeting to March 22


C H I N A   &   H O N G  K O N G

ZHENGZHOU BAIWEN: Suspends Shares, Starts Restructuring


I N D O N E S I A

BIMANTARA CITRA: Bimagraha Purchase to Continue
DARYA-VARIA: Reports Net Loss Due to Foreign Exchange Losses
INDOFOOD SUKSES: Holdiko Clears Up Time Deposit Issue


J A P A N

FOOTWORK EXPRESS: Files for Court Protection from Creditors


K O R E A

DONG AH: After 2nd Audit, Sam Il Stands Firm on Liquidation
HYUNDAI GROUP: Sells Main Building to U.S.-Based Stark


M A L A Y S I A

ARTWRIGHT HOLDINGS: Sell 75 percent Stake to Steelcase
BESRAYA: Inks RM180 Million Revolving Underwritten Facility
JASATERA BERHAD: Asks for Six More Months to get Approvals  
LION GROUP: Details of Restructuring Out by April
MBF HOLDINGS: Subsidiary Sells Entire MBF Payment Stake for RM2

MALAYSIAN TOBACCO: May Opt for Voluntary Liquidation
SISTEM TELEVISYEN: Obtains Stay of Execution of Judgment


P H I L I P P I N E S

NATIONAL STEEL: Ispat Negotiates to Take Over Operations
PILIPINAS SHELL: P1.06 Billion Net Loss in 2000


S I N G A P O R E

ASIA PULP: Moves Closer to Debt Standstill


T H A I L A N D

NTS STEEL: Court Extends Plan Submission to March 26
WORLD TRADE: Siam Commercial Files Bankruptcy Suit


=================
A U S T R A L I A
=================

MAXIS CORPORATION: Creditors Adjourn Meeting to March 22
--------------------------------------------------------
Maxis announced in a press release that at each of the board
meetings on March 5, 2001, creditors for ARBT Pty Ltd (Heartland
Communications) and ABT Supplyline Pty Ltd voted unanimously to
adjourn the meeting to March 22 so that the administrator could
consider and prepare a written report on the proposal for a Deed
of Company Arrangement submitted by Maxis.

The management of Maxis will meet with the administrator over the
next few days to further explain and fine-tune the proposal so
that the chance of a positive recommendation to creditors by the
administrator is maximized.

Maxis also appeared on March 5 before Judge Austin of the NSW
Supreme Court for a hearing date to be set for the ASIC vs. Maxis
matter. The hearing date is set for sometime in May.


================================
C H I N A   &   H O N G  K O N G
================================

ZHENGZHOU BAIWEN: Suspends Shares, Starts Restructuring
-------------------------------------------------------
Zhengzhou Baiwen has received approval to suspend its A shares
trading from March 5 to April 5, 2001, while it continues with a
planned asset restructuring.  The South China Morning Post said
that the China Securities Regulatory Commission must first
approve the repurchase of shares before June 30 from investors
who do not want to take part in the restructuring.  

The regulatory commission must also approve the merger between
Zhengzhou Baiwen and Sanlian.  Shareholders have from March 5 to
19 to object to the transfer of half of their shares to
Shandong's Sanlian Group.  


=================
I N D O N E S I A
=================

BIMANTARA CITRA: Bimagraha Purchase to Continue
-----------------------------------------------
PT Bimantara Citra Tbk (BMTR) president director Joseph
Dharmabrata told the Jakarta Stock Exchange Friday that PT
Indonesia Satellite Corporation Tbk's (Indosat or ISAT)
acquisition of PT Bimagraha Telekomindo did not depend on
Bimantara's restructuring, IndoExchange reports.

The Surabaya Stock Exchange said Bimantara announced on February
16, 2001, that it had signed an agreement with PT Indosat in
which Bimantara would sell its stake in PT Bimagraha Telekomindo,
consisting of 9,750 shares, for $55.8 million.

"Right now, Bimantara has settled all of its liabilities with the
lenders, including IBRA and foreign lenders," Mr. Dharmabrata
told JSX, IndoExchange reports.

Indosat had announced that it would buy a 70 percent stake in
Bimagraha valued at US$ 260.4 million.   The transaction would
effectively give Indosat a 31.5 percent stake in PT Satelit
Palapa Indonesia (Satelindo). Bimagraha is a holding company that
holds 45 percent stake in Satelindo.  A previous announcement in
the MOU said Telkom agreed to buy a 22.5 percent stake in
Satelindo valued at $186 million.  Both transactions would then
give Indosat a 61.5 percent stake in Satelindo.

Indosat plans to seek shareholders' approval by the end of April
2001.


DARYA-VARIA: Reports Net Loss Due to Foreign Exchange Losses
------------------------------------------------------------
PT Darya-Varia Laboratoria Tbk announced March 1 that it
sustained a net loss of 16.12 billion rupiah stemming from
foreign exchange losses of 36.72 billion rupiah.  

"The 2000 results show further, sustained progress towards solid
net profitability and the elimination of all debt. Unfortunately,
this underlying improvement has been masked by sizeable exchange
losses," said President director and chief executive officer
Philip A. Townsend.

The losses arose on US dollar payables as a consequence of the 28
percent deterioration of the rupiah over 2000.  This compares to
a gain of 15.19 billion rupiah in 1999 when the rupiah
strengthened by 14 percent.

On January 30, 2001, Darya-Varia obtained a one-year 70-billion
rupiah facility from ABN-Amro Bank in order to reduce exposure to
exchange rate fluctuations. Approximately 68.2 billion rupiah of
the facility will be used to refinance $7.1 million of US dollar
denominated debt, and 1.8 billion rupiah will be used for working
capital purposes. After this refinancing, the company still has
approximately $5.0 million of US dollar denominated debt, the
full settlement of which will be effected by year-end 2002.

The Darya-Varia Group is a leading fully integrated healthcare
company engaged in the manufacture, marketing and distribution
of prescription and OTC medicines.


INDOFOOD SUKSES: Holdiko Clears Up Time Deposit Issue
-----------------------------------------------------
PT Holdiko Perkasa issued a clarification on March 1, 2001,
regarding the time deposits of PT Indofood Sukses Makmur Tbk
(Indofood) through PT Salim Ivomas Pratama and its subsidiary
SIMP.  The time deposits were pledged as security for loans
provided to Holdiko Palm Plantations (HPP), which were formerly
known as the Salim Plantations before they were transferred to
Holdiko as part of the Master Settlement Acquisition Agreement
(MSAA).

Holdiko is a holding company established with the Shareholding
Settlement Agreement between the Indonesian Bank Restructuring
Agency (IBRA) and the Salim Group.

Indofood's time deposits at Bank Risjad Salim International (now
merged with Bank Danamon) were pledged to the bank to secure
various loans to the palm plantations. These loans were extended
to the plantations prior to and after the transfer of the palm
plantations to Holdiko as part of the MSAA. Holdiko's management
team became aware of these loans in 2000 while preparing for the
disposal of its palm plantation assets.

Holdiko said the company is committed to good corporate
governance and has worked together with Indofood to release the
pledge of the time deposits since discovering this issue in 2000.
These steps include Holdiko looking into the possibility of
refinancing the loans as well as approaching the bank to replace
the Indofood time deposits with other security. To date, however,
these steps have not borne any results.

As part of efforts to assist Indofood in resolving this issue,
last November Holdiko included in the draft Sale and Purchase
Agreement for the sale of HPP a clause requiring the buyer to
either refinance these loans or replace the Indofood time
deposits as security for the loans. Kumpulan Guthrie Berhad, as
the purchaser of these assets, has agreed on a best efforts basis
to refinance the loans and/or replace the security once the
transaction has closed.

PT Holdiko Perkasa was established in relation to the settlement
between the Salim Group and IBRA with regard to loans extended by
PT Bank Central Asia (BCA) to companies affiliated to the Salim
Group. As part of the settlement agreement with IBRA, the Salim
Group transferred shares and assets in more than 100 operating
companies to PT Holdiko Perkasa.

Holdiko said that as direct and indirect shareholder of these
companies, it is the company's responsibility to supervise each
individual company with the aim of disposing of a sufficient
amount of these shareholdings. Holdiko will subsequently direct
the disposal proceeds to IBRA as part of the settlement
agreement.


=========
J A P A N
=========

FOOTWORK EXPRESS: Files for Court Protection from Creditors
-----------------------------------------------------------
Trucking company Footwork Express, parcel delivery service
Footwork International Corp. and affiliate Footwork Express
Hokkaido Co. filed for court protection from creditors at the
Osaka District Court on Sunday under the Civil Rehabilitation
Law.  The companies have total liabilities of 171.8 billion yen.
Of this, Footwork Express has liabilities of 140.7 billion yen,
and Footwork International 23.7 billion.

Footwork International said it filed for protection as it is
difficult to carry on without collecting 18.3 billion yen in
claims to Footwork Express, the Japan Times Online reports.

Footwork Express was established in 1938 and is based in
Kakogawa, Hyogo Prefecture.  It employs 6,050 and reported sales
of 96.1 billion yen for the year ending December 31.


=========
K O R E A
=========

DONG AH: After 2nd Audit, Sam Il Stands Firm on Liquidation
-----------------------------------------------------------
Sam Il Accounting said Dong Ah Construction's liquidation value
exceeds that of its value as a going concern despite company
claims that its books are not accurate, the Korea Herald reports.  

Sam Il executive Kim Yong-shik told the Herald, "We plan to
report to the bankruptcy panel of the Seoul District Court."  Mr.
Kim was referring to a reassessment of Dong Ah's assets, which
showed results similar to those of the first audit.  Mr. Kim said
the accounting firm would recommend setting aside Dong Ah's more
profitable projects and keeping them afloat, the Herald said.  
One of these projects is the manmade waterway project in Libya.

Sam Il had reported to the court on February 3 that Dong Ah's
liquidation value was 194.2 billion won higher than its value as
a going concern, and the court had planned to order the company's
liquidation on February 8.  Dong Ah had however claimed it had
inflated foreign sales figures between 1988 and 1997 by applying
higher exchange rates.

Dong Ah has also questioned Sam Il's accounting methods of
evaluating assets, saying that Arthur Anderson had placed the
construction company's value as a going concern at 4.14 trillion
won a year ago.  Sam Il's value was at 1.47 trillion won.  Dong
Ah suggested that the difference stemmed from the use of
different assessment methods, and pointed out that the difference
was strange since both accounting firms had come up with similar
figures on its liquidation value.  Sam Il had come up with 1.71
trillion won while Arthur Anderson had come up with 1.67
trillion, the Herald said.  

Dong Ah further said that Arthur Anderson added non-business
purpose assets and non-interest-bearing debt to the company's
operating value, while Sam Il only added non-business purpose
assets to the operating value, the Herald said.

The court will decide on the company's liquidation by March 16.


HYUNDAI GROUP: Sells Main Building to U.S.-Based Stark
------------------------------------------------------
An official at Hyundai Engineering and Construction (HEC) said
March 4 that president Kim Yoon-kyu has signed a letter of intent
to sell Hyundai Group's central office building in Kye-dong,
Central Seoul to U.S. real estate firm Stark International, the
Korea Herald said.

The LOI includes a sale and lease back option that will give
ownership of the building to Stark for 15 years on the condition
that the property be leased back to Hyundai, which will also be
given the right to buy back the building five years after the
sale contract.  Stark is scheduled to complete due diligence by
March.  It may change the title of the building by April, the
Herald said.


===============
M A L A Y S I A
===============

ARTWRIGHT HOLDINGS: Sell 75 percent Stake to Steelcase
-----------------------------------------------
Artwright Holdings Bhd announced March 5, 2001, that it had
signed a letter of intent to sell a 75 percent equity stake in
its wholly owned subsidiary Artwright Technology Sdn Bhd to US-
based furniture company Steelcase Inc.  

Artwright managing director and CEO Yong Yoke Keong told the Star
Online during a press conference at Petaling Jaya that the deal
will bring material and substantial cash to the company and will
ramp up its output to full capacity from its present $10 million.  
That represents a paltry 10 percent.  

Mr. Yong did not reveal how much Steelcase was paying for the
stake but said possibilities for the bottomline "could be
dramatic."  He said Artwright could not fulfill orders because
banks had withdrawn most of the company's credit facilities, the
Star said.  Artwright has debts of RM64 million.

Commenting on interest payments on loans for a 10-acre
manufacturing facility owned by sole manufacturing contributor
Artwright Technology, Mr. Yong told the Star, "The plant got us
into trouble, so perhaps selling it will get us out of trouble."

The joint venture is expected to be completed on June 30 subject
to the approval of authorities.  Yong said Artwright expects to
complete its proposed restructuring scheme by June.  He disclosed
that part of the scheme concerns the issue of up to RM14.41
million of five-year 5.5 percent irredeemable convertible
unsecured loan stocks and is yet to be approved by the Securities
Commission, the report said.


BESRAYA: Inks RM180 Million Revolving Underwritten Facility
-----------------------------------------------------------
Road Builder Holdings Bhd subsidiary Besraya Sdn Bhd has signed a
RM180 million revolving underwritten facility and/or medium term
notes issuance facility (RUF/MTN) with Arab-Malaysian Merchant
Bank Berhad.  

Besraya was incorporated in Malaysia in 1995 and was awarded the
privatisation of the Sungei Besi Highway on a build operate and
transfer basis by the Government of Malaysia for a concession
period of 32 years commencing August 15, 1996.

The RUF/MTN Programme shall be for a maximum tenure of seven
years. It provides Besraya the flexibility to issue short-term
notes in the form of Commercial Papers and Medium Term Notes.

The Commercial Papers can range in various tenures from one to
twelve months whilst the Medium Term Notes will have tenures
ranging from one to five years.

The RUF/MTN Programme will allow Besraya to repay the outstanding
balance of its turnkey construction costs to its turnkey
contractor, Road Builder (M) Sdn Bhd as well as for working
capital requirements.

The most significant advantage of the RUF/MTN Programme is that
it provides Besraya an opportunity to tap cheaper funds currently
available in the market place and affords Besraya the ability to
manage its interest rate risks through the issuance of fixed rate
Medium Term Notes.

The interest expense arising from the RUF/MTN Programme which is
capitalised in Besraya and charged out progressively based upon
actual traffic volume over the total life of the concession, will
have minimal impact on the profit and loss of the RBH Group.

The agreement required the approval of the following:

     a. Approval from the Government of Malaysia pursuant to
Clause 21.4 of the Concession Agreement, was obtained on December
22, 2000.

     b. Approval from Securities Commission was obtained on
February 20, 2001.


JASATERA BERHAD: Asks for Six More Months to get Approvals  
----------------------------------------------------------
Affin Merchant Bank Berhad said that the application of Jasatera
Berhad to the Securities Commission for its recapitalization plan
was not submitted as scheduled because the company needed more
time to revise the proposal's terms and conditions.  Jasatera
will submit its application within 6 months.

Affin said Jasatera had not yet obtained the relevant approvals
for the proposed debt settlement agreement within the 6 months,
which is stipulated in the conditional debt settlement agreement
the company entered into with its lenders on September 5 of last
year.  Jasatera requested an additional 12 months to obtain the
necessary approvals and will inform shareholders of the status of
the time extension.  

The proposed recapitalization plan involved:

(i) Proposed capital reduction of the Company's existing issued
and paid-up share capital of RM19,980,000 in accordance with the
provisions of Section 64 of the Companies Act, 1965 and
consolidation of the resultant shares thereafter;

(ii) Proposed rights issue of 23,976,000 new ordinary shares of
RM1.00 each on the basis of six (6) new ordinary shares of RM1.00
each for every one (1) ordinary share held after the proposed
capital reduction; and

(iii) Proposed settlement of debts owing to financial institution
creditors amounting to RM91,473,585.


LION GROUP: Details of Restructuring Out by April
-------------------------------------------------
Corporate Debt Restructuring Committee chairman Datuk C.
Rajandram said banks and creditors involved in Lion Group's debt-
restructuring scheme with five listed companies have agreed to
the group-wide restructuring scheme (GWRS).  Mr. Rajandram told
theedgedaily.com, "We think all these (issues in the GWRS) should
be resolved by March or April."  The scheme had missed its
initial December deadline.

The scheme will allow the group to settle its debts through cash,
new shares, ringgit bonds/consolidated rescheduled US dollar
debts, or a combination.  

Rajandram told theedgedaily.com that the GWRS was taking longer
to complete because it involved a large group and many creditors,
the sale of assets and also the products. He said the GWRS
encompasses the improvements of certain projects to make them
viable, cash injection, sale of assets, and focusing on five core
areas.

"The restructuring will address the debts issue, to provide new
cash flow in future. The non-core assets will be divested,"
Rajandram said.  

The Lion Group includes Lion Corporation Bhd, Lion Land Bhd,
Amsteel Corporation Bhd, Angkasa Marketing Bhd, Chocolate
Products (M) Bhd and Posim Bhd.  The group announced its GWRS
involving RM5.9 billion in debts last July, the Edge said.  
Amsteel's liabilities accounted for RM3.91 billion of the total.


MBF HOLDINGS: Subsidiary Sells Entire MBF Payment Stake for RM2
---------------------------------------------------------------
MBf Holdings Berhad's wholly owned subsidiary MBf Equities Sdn
Bhd sold its entire 100 percent equity interest in MBf Payment
Services Sdn Bhd (MBfPS), comprising 2,008,849 ordinary shares of
RM1.00 each and Planworth (M) Sdn Bhd (PMSB) comprising 1,100,000
ordinary shares of RM1.00 each, to Ms. Koh Swee Hia for a cash
consideration of RM2.00.

MBfPS was incorporated on May 25, 1990, to principally engage in
the business of issuing and selling travellers cheques. MBfPS
ceased operation in 1995 and has remained dormant since then. The
authorised and paid-up share capital of MBfPS is RM5,000,000 and
RM2,008,849, respectively.

As of December 31, 2000, MBfPS had a deficit shareholders' fund
of RM840.00.

PMSB was incorporated on October 6, 1988, to operate a fastfood
restaurant known as "Grandy's". Its principal activity was
changed in 1993 to that of an employment agency before it became
dormant in 1994. The authorised and paid-up share capital is
RM5,000,000 and RM1,100,000 respectively.

As of December 31, 2000, PMSB had a deficit shareholders' fund of
RM3,855.

The disposal of these dormant companies is intended to streamline
the MBfH Group.   


MALAYSIAN TOBACCO: May Opt for Voluntary Liquidation
----------------------------------------------------
Malaysian Tobacco Company Bhd announced on March 5, 2001, that it
had submitted an appeal to the Economic Planning Unit in respect
of the proposed acquisition of Grand Saga based on a revised
proposal which involves the restructuring of the shareholding
structure in GPU and also addressing the Bumiputra equity
participation in MTC in the event that it falls short of the
minimum 30 percent requirement. MTC said it had yet to receive
any decision from the EPU on the appeal. In addition, no
decisions from the other authorities have been received by the
Company.

In view that the extension granted by the Kuala Lumpur Stock
Exchange for the non-suspension of the company's listing status
will expire on May 2, 2001, and that the company has not received
the requisite regulatory approvals within the extended timeframe
stipulated, Arab-Malaysian, on behalf of the company, would like
to announce that the Company together with the vendors of Grand
Saga and Alam Ria have mutually agreed not to proceed with the
Proposed Acquisition of Companies. As such, the conditional sale
and purchase agreements relating to the Proposed Acquisition of
Companies are deemed to have lapsed.

Concurrently, the parties to the Proposed Disposal, namely
Chelwood and GPU have also mutually agreed to terminate the
conditional sale and purchase agreement pertaining to the
Proposed Disposal as the Proposed Disposal is conditional upon
the Proposed Acquisition of Companies.

With the lapse of the abovementioned agreements, the company is
continuing to identify/secure suitable and viable assets to be
injected into MTC so as to retain the listing status and maximise
value for the shareholders of the company within the deadline
stipulated by the KLSE, May 2, 2001.

Should the company fail to identify suitable assets or secure an
extension of time from the KLSE, the company may, amongst others,
opt for a voluntary liquidation, which will entail the delisting
of MTC from the Main Board of the KLSE followed by a capital
distribution to the shareholders of the Company.

The company will keep the shareholders informed of further
developments as and when events are finalised.


SISTEM TELEVISYEN: Obtains Stay of Execution of Judgment
--------------------------------------------------------
Sistem Televisyen Malaysia Berhad says that a hearing appealing a
High Court ruling in favor of an individual who says the
television station defamed him has been set for March 7. In the
meantime, STMB has obtained a stay of execution of the judgment
until the hearing.

The plaintiff claimed that Sistem Televisyen Malaysia Berhad
(STMB) defamed him during one of the news segment on Buletin
Utama on February 23, 1998. He alleged that a news report of two
persons of Indian nationality and one of Bangladesh nationality
being detained in remand by the Immigration Department for
fraudulently renewing passports and a visual of him walking and
showing him to be handcuffed, affected his business and
reputation.


=====================
P H I L I P P I N E S
=====================

NATIONAL STEEL: Ispat Negotiates to Take Over Operations
--------------------------------------------------------
National Steel Corp. (NSC) creditors are reportedly negotiating
with Ispat International NV for a takeover of the troubled
steelmaker. BusinessWorld reported Monday that a source says
creditor banks have agreed to a 30-day exclusive negotiating
period with the Dutch firm.

Hottick Investments, Inc., the majority shareholder, would likely
oppose the takeover, saying it would greatly reduce its interest
in the steelmaker. Hottick's 2.02 million shares are held by
government agency Danaharta Pengurusan Berhad. NSC liquidator
Danilo Concepcion, meanwhile, has refused to comment on the
negotiations.

NSC's creditor banks are still waiting for the company to submit
a rehabilitation plan.


PILIPINAS SHELL: P1.06 Billion Net Loss in 2000
-----------------------------------------------
Pilipinas Shell Petroleum Corp. posted a P1.06 billion net loss
in 2000 compared to P800 million of income in 1999. The
Philippine Daily Inquirer reported Monday that company vice
president Reynaldo Gamboa said the sharp rise in crude oil prices
and the continued devaluation of the peso were to blame for the
losses.

"We also noticed that the total fuel demand in 2000 was 9 percent
lower than in 1999," he said.

Gamboa added that there were no indications that sales in 2001
would be higher than last year's.


=================
S I N G A P O R E
=================

ASIA PULP: Moves Closer to Debt Standstill
------------------------------------------
Asia Pulp & Paper Co. (APP) might negotiate a debt standstill
agreement with creditors as it moves closer to default. The Asian
Wall Street Journal reported last week the agreement would allow
APP more breathing room to renegotiate its $12 billion in debt
and obligations. In January, lawsuits were filed in a Singapore
court by two APP creditors claiming the company owed them over $4
million.

APP's chief financial officer, Hendrik Tee, has told bankers that
APP would continue paying interest, but not principal loan
amounts, as part of a standstill agreement.

APP also told some bankers that it hopes to announce the
appointment of a financial adviser soon, possibly as early as
Friday. Credit Suisse First Boston and J.P. Morgan Chase are
known to be interested. The report says the potential fees that
professionals could charge for handling the complex negotiations
on APP's vast debt could be substantial.

S&P has given APP an overall triple-C-minus rating. The rating
agency says most of APP's debt will fall due during the next
three years. The group's annual interest payments are estimated
at $800 million to $1 billion.


===============
T H A I L A N D
===============

NTS STEEL: Court Extends Plan Submission to March 26
-----------------------------------------------------
N.T.S. Steel Group Public Company Limited informed the Stock
Exchange of Thailand that since certain major issues under the
company's business rehabilitation plan still needed amendment in
order for it to be in accordance with the suggestion of
creditors, the company requested an extension of one month to
submit the plan.

The court approved the extension for submission of the plan to
the official receiver to March 26, 2001.


WORLD TRADE: Siam Commercial Files Bankruptcy Suit
--------------------------------------------------
On Tuesday, Siam Commercial Bank filed a bankruptcy suit against
World Trade Tower Bangkok over unpaid loans and interest totaling
Bt938.13 million. The Nation reported Monday the unfinished
tower's management has been unable to come to an agreement with
the bank on debt restructuring, as required by the Bank of
Thailand.

Construction of the World Trade Tower, which is a subsidiary of
the Wang Petchaboon Group, stopped in 1997 at the 42nd floor.

The report says the company continues to negotiate with Siam
Commercial Bank -- if the effort is successful, the bank will
withdraw its bankruptcy petition.

Siam Commercial Bank sued World Trade Tower Bangkok in civil
court in December for its original Bt800 million loan. Bangkok
Metropolitan Bank sued Wang Petchaboon Group in October for the
Bt2 billion owed to it.

The Wang Petchaboon Group reported an accumulated loss of Bt1
billion at the end of 1999. For 1999, World Trade Tower Bangkok
itself reported a net loss of Bt16.99 million and an accumulated
loss of Bt27.28 million.



S U B S C R I P T I O N  I N F O R M A T I O N

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