TCRAP_Public/040317.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 17, 2004, Vol. 7, No. 54

                            Headlines

A U S T R A L I A

AUSTRALIAN MAGNESIUM: Government Exits Involvement
BRAMBLES INDUSTRIES: Jac Nasser Takes Over as Director
DUKE ENERGY: Grand Jury Investigation Concludes With No Action
DUKE ENERGY: Enters Agreement to Sell Asia Pacific Assets
GYMPIE GOLD: Replacement of Existing Banks Finalized


C H I N A  & H O N G K O N G

ALCHEMY MODELS: Winding up Hearing Set April 14
CHOI KUN: Winding Up Hearing Slated for March 24
GORGEOUS RUBBER: Creditors Annual Meeting Set March 25
JILIN CHEMICAL: First EGM Set April 20
LUMBER WORLD: Chan Chun Initiates Winding up Petition

MOON TUNG: Faces Winding Up Petition
NEW TAISHIN: Winding up Hearing Set April 14
SEEWIN COMPANY: Winding up Hearing Set April 7
SKY ASCENT: Faces Winding up Petition
WELLINE ENTERPRISE: Schedules Winding Up Hearing April 14

WELLWAY ENGINEERING: Leung Ka Initiates Winding up Petition


I N D O N E S I A

BANK DANAMON: Starts Dollar Bond Roadshow
BANK NEGARA: May Issue Sub Debt This Year
BANK NEGARA: Seeks Additional Funds to Increase Capital


J A P A N

DAIEI INC.: Set Sales Target at JPY1.43 Trillion
DAIE INC.: Shares Up 11% Monday
ISHIKAWAJIMA-HARIMA: Shares Down 11% Monday
KAWASAKIKO CONTAINER: Port Equipment Firm Enters Bankruptcy
K.K. PURAIMU: Enters Bankruptcy

MIMATSU KIGYO: Office Space-Leasing Firm Files Bankruptcy
NISSHO IWAI-NICHIMEN: JCR Assigns BBB- Rating
SKYMARK AIRLINES: Postpones Tokyo-Naha Service


K O R E A

HYNIX SEMICONDUCTOR: Eyes $800M China Chip Plant
LG CARD: Enters Capital Reduction Scheme
SK GROUP: Moves to Shake off 'Chaebol' Image
SSANGYONG MOTOR: Chinese Firm Presents $500M Bid


M A L A Y S I A

ANSON PERDANA: Change in Audit Committee
ANTAH HOLDINGS: Status of Litigation
BERJAYA LAND: Proposes Disposal of Shares and Stocks
BERJAYA SPORTS: Converted Unsecured Loan Stocks
KIA LIM BERHAD: Applies for Exception

MBF HOLDINGS: Resumes Trading
PSC INDUSTRIES: Proposes Debt Restructuring Scheme Revisions
RHB CAPITAL: Sues Former Chairman Abdul Rashid
RHB CAPITAL: Asked to Explain Suit
RHB CAPITAL: Answers Query

TENAGA NASIONAL: Reveals Boardroom Changes
WCT ENGINEERING: Discloses Dealings


P H I L I P P I N E S

MANILA ELECTRIC: Defers Plan to Tap Capital Markets
PHILIPPINE AIRLINES: Offers Las Vegas Flight
PHILIPPINE LONG: Hires JP Morgan as Units Financial Advisor
PHILIPPINE LONG: Clarifies Unit's Debt Payments


S I N G A P O R E

FLEXTECH HOLDINGS: Trading Halt Lifted
FLEXTECH HOLDINGS: To Acquire Hong Kong-based Dynax
HIAP HOE LIMITED: Unit Disposes of Investment
HONG LEONG: Change of Audit Committee Member
HONG LEONG: Appoints New Director

HONG LEONG: Proposes Dividends for Financial Year 2003
HONG LEONG: Change in Director's Interests
LYONNAISE ASIA: Issues Debt Claim Notice to Creditors
ROBLE EAST: Creditors Must Submit Claims by April 15
S.T.Y. ENTERTAINMENT: Releases Dividend Notice

SUNRISE OCEAN: Issues Winding Up Order Notice
TRACTEBEL SINGAPORE: Issues Debt Claim Notice to Creditors
WEE POH: Issues Half-Year Financial Statement
WEE POH: Reply to Queries Re Half-Year Financial Statement
WEE POH: Proposes Scheme of Arrangement for Unit


T H A I L A N D

DATAMAT PUBLIC: Expects THB2.5B in Revenues
EMC: Expects to Win THB2B Bid in Construction Projects
EMC: Sets Ordinary General Meeting

     -  -  -  -  -  -  -  -

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


AUSTRALIAN MAGNESIUM: Government Exits Involvement
--------------------------------------------------
The federal and Queensland governments decided to end their
involvement with Australian Magnesium Corporation (AMC) in the
wake of its failed magnesium smelter, according to The Age on
Tuesday.

The governments withdrew the $1.7 billion project of Australian
Magnesium in Stanwell, Queensland after the company failed to
secure a cornerstone investor.  The said project was expected to
be the world's largest project to generate about $500 million a
year.

Australian Magnesium said in a statement that the Federal and
Queensland governments would consider ending their involvement
with the AMC Group as soon as possible, if most of the money and
certain assets the company no longer needed were transferred to
the governments.

Australian Magnesium said it was considering the government's
proposal and would respond shortly.


BRAMBLES INDUSTRIES: Jac Nasser Takes Over as Director
------------------------------------------------------
Brambles Industries Limited (BIL.AU), a pallet, waste disposal
and document management company, said Tuesday that the former
head of Ford Motor Company, Jac Nasser, has replaced Graham
Kraehe as director, Dow Jones reports.  Mr. Kraehe, Chairman of
National Australia Bank, resigned from Brambles board due to
increased commitment at the bank.

Mr.Nasser, who was ousted from Ford in late 2001, is a senior
partner of One Equity Partners, a private equity business of
Bank One Corporation (ONE). He also is chairman of Polaroid
Corporation (PRD.XX) and a director of British Sky Broadcasting
Group PLC (BSY), Quintiles Transnational Corporation (QTRN) and
is on the International Advisory Board of Allianz AG. (AZ).


DUKE ENERGY: Grand Jury Investigation Concludes With No Action
--------------------------------------------------------------
The Department of Justice closed its grand jury investigation
into issues related to Duke Power's regulatory reporting,
concluding that no action is warranted against the company or
its employees, a Company statement said. The company was
informed of this outcome in a letter received on March 10 from
the U.S. attorney for the Western district of North Carolina.

"We are pleased that this review is complete and that this issue
is now behind us," said Ruth Shaw, president of Duke Power
Company. "The U.S. attorney and grand jury have done a thorough
and professional review of the regulatory issues, spanning more
than a year and over 110,000 pages of Duke Power documents. We
are gratified that they concluded there was no basis for further
action or review."

The grand jury review related to the North Carolina and South
Carolina utility commissions' 2002 audit of Duke Power's
regulatory reporting from 1998 to 2000. Duke Power entered into
settlement with the state utilities commissions in late 2002 and
acknowledged errors and areas of differences in professional
opinions. The U.S. attorney notified Duke Power of its inquiry
in February 2003. The company fully cooperated with the
investigation.

Duke Power, a business unit of Duke Energy, is one of the
nation's largest electric utilities and provides safe, reliable,
competitively priced electricity and value-added products and
services to more than 2 million customers in North Carolina and
South Carolina. In 2004, Duke Power celebrates 100 years of
service. The company operates three nuclear generating stations,
eight coal-fired stations, 31 hydroelectric stations and
numerous combustion turbine units. Total system generating
capability is approximately 19,900 megawatts. More information
about Duke Power is available on the Internet at:
http://www.dukepower.com.

Duke Energy is a diversified energy company with a portfolio of
natural gas and electric businesses, both regulated and
unregulated, and an affiliated real estate company. Duke Energy
supplies, delivers and processes energy for customers in North
America and selected international markets. Headquartered in
Charlotte, N.C., Duke Energy is a Fortune 500 company traded on
the New York Stock Exchange under the symbol DUK.

Contact: Tom Williams
Phone: 704/373-4743
24-Hour Phone: 704/382-8333
E-mail: tcwillia@duke-energy.com


DUKE ENERGY: Enters Agreement to Sell Asia Pacific Assets
---------------------------------------------------------
Duke Energy has executed a share sale agreement with Alinta Ltd.
to purchase Duke Energy's Asia-Pacific energy assets for
US$1.238 billion (A$1.69 billion), the Company said in a
statement. The sale will include all of Duke Energy's assets in
Australia and New Zealand.

"In January, we announced a strategy to concentrate our
international investment in the Americas," said Chairman of the
Board and Chief Executive Officer Paul Anderson. "The decision
was made to exit the Asia-Pacific market either through a sale
of our assets or a public offering and, with this transaction,
we're delivering on our plan.

"This sale will go a long way towards meeting our asset
divestiture target for 2004, and will further strengthen the
Duke Energy balance sheet."

The company will be working with Alinta to finalize the
transaction, which is anticipated to close in the second
quarter.

"This was a very competitive process and I am pleased that a
strong player like Alinta will be taking the business forward,"
Anderson added. "Ultimately, the transaction came down to
certainty of execution, and Alinta provided the best package in
that regard."

Duke Energy is a diversified energy company with a portfolio of
natural gas and electric businesses, both regulated and
unregulated, and an affiliated real estate company. Duke Energy
supplies, delivers and processes energy for customers in North
America and selected international markets. In 2004, the company
celebrates a century of service with the 100th anniversary of
its electric utility Duke Power. Headquartered in Charlotte,
N.C., Duke Energy is a Fortune 500 company traded on the New
York Stock Exchange under the symbol DUK.

Contact: Media Relations -- Peter Sheffield
Phone: 704/373-4503
24-Hour Phone: 704/382-8333
E-mail: pvsheffield@duke-energy.com

Contact: Investor Relations -- John Arensdorf
Phone: 704/382-5087
24-Hour Phone: n/a
E-mail: jrarensdorf@duke-energy.com


GYMPIE GOLD: Replacement of Existing Banks Finalized
----------------------------------------------------
Further to the announcement of March 2, 2004, a consortium of
banks, led by Mizuho International Plc (Mizuho) and Investec
Bank Australia Limited (Investec), have formally replaced HSBC
Precious Metals Australia and Fortis Bank as principal bankers
to Gympie Gold Limited Group.

The Mizuho/Investec consortium, together with the Receiver-
Managers, Ferrier Hodgson, are continuing to review all options
with respect to the Group's Southland Colliery and Gympie
Eldorado Gold project.

Contact Peter Geroff, Receiver and Manager on (07) 3831 4833

For a copy of the press release, go to
http://bankrupt.com/misc/tcrap_gympie0316.pdf


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


ALCHEMY MODELS: Winding up Hearing Set April 14
-----------------------------------------------
The petition to wind up Alchemy Models Limited is set for
hearing before the High Court of Hong Kong on April 14, 2004 at
10 o'clock in the morning.

Leung Kin Keung of Flat 11, 29/F., Block G, Kwong Ming Court,
Tseung Kwan O, New Territories, Hong Kong, filed the petition on
February 13, 2004.

The Petitioners' solicitors are Chau Ming Wah of 34th Floor,
Hopewell Centre, 183 Queen's Road East, Wanchai Hong Kong. Any
person who intends to appear at the hearing of the petition must
serve or send by post to Solicitors Chau Ming Wah a notice in
writing not later than six o'clock in the afternoon of the 13th
day of April 2004 (the day before the petition hearing).


CHOI KUN: Winding Up Hearing Slated for March 24
------------------------------------------------
The petition to wind up Choi Kun Heung Vegetarian Restaurant
Limited is set for hearing before the High Court of Hong Kong on
March 24, 2004 at 9:30 in the morning.

Chin Wah Choi of Room 1125, Kin Man House, Oi Man House, Ho Man
Tin, Kowloon, Hong Kong, filed the petition on January 26, 2004.

The Petitioners' solicitors are Chau Ming Wai of 34th Floor,
Hopewell Centre 183 Queen's Road East, Wan Chai, Hong Kong. Any
person who intends to appear at the hearing of the petition must
serve or send by post to Chau Ming Wai a notice in writing not
later than six o'clock in the afternoon of the 23rd day of March
2004 (the day before the petition hearing).


GORGEOUS RUBBER: Creditors Annual Meeting Set March 25
------------------------------------------------------
The annual meetings of the members and creditors of Gorgeous
Rubber & Plastic Shoes Accessories Limited (In Creditors'
Voluntary Liquidation) will be held at 2/F, Wing Yee Commercial
Building, 5 Wing Kut Street, Central, HK on March 23, 2004 for
the purpose of laying before the meeting by the Joint and
Several Liquidators an account of their acts and dealings and of
the conduct of the winding-up during the preceding year.

Time of Meeting of Members - 2:30 in the afternoon
Time of Meeting of Creditors - 3:30 in the afternoon

Lau Siu Hung
Ng Chun Kong
Joint and Several Liquidators

The Quamnet gazette notice is dated March 12, 2004.


JILIN CHEMICAL: First EGM Set April 20
--------------------------------------
The Board of Directors and the Supervisory Committee of Jilin
Chemical Industrial Company Limited announced that its first
Extraordinary General Meeting (EGM) this year would be held on
April 20, 2004, the Standard reports.

The Company's Board of Directors nominates the following as
candidates of members of the 4th Board of Directors of the
Company and candidates of members (representatives of
shareholders) of the 4th Supervisory Committee of the Company.
Such nominees are proposed and shall be elected, if approved, at
the Extraordinary General Meeting to be held at the Conference
Room of the Company, No. 9 Longtan District, Jilin City, Jilin
Province, the People's Republic of China (PRC) at 9 in the
morning on April 20, 2004.

CANDIDATES FOR DIRECTORS AND SUPERVISORS

1. New candidates for independent directors (2) and their
profiles

Fanny Li, female, aged 42, is a partner of BDO McCabe Lo in Hong
Kong. She graduated from the University of Hong Kong and
obtained a Master's degree in international accounting from the
City University of Hong Kong. She has worked in several
international accountant firms and has over 18 years of
experience in international auditing and accounting.
She had served as a member of the Expert Panel on Securities,
Auditing & Assurance Standard Committee and the Corporate
Governance Committee of the Hong Kong Society of Accountants. Ms
Li has significant experience in initial public offerings.

Zhou Henglong, male, aged 42, a senior economist, is the
Chairman of Da Xiang Investment Company Limited. He graduated
from Hunan College of Finance and Economic. He has held
positions including chief of Policy and Regulations Division of
the original Ministry of Chemical Industry of the State, deputy
manager at the headquarters of the Investment Bank Section of
Guo Xin Securities Company Limited. He has extensive experience
in restructuring, mergers and acquisitions, share options and
reform of state-owned enterprises.

7 Candidates - Yu Li, Xu Fengli, Shi Jianxun, Zhang Xingfu, Lan
Yunsheng, Ni Muhua, Jiang Jixiang - are proposed for re-election
as directors of the Company.

2 Candidates - Wang Peirong, L Yanfeng - are proposed for re-
election as independent directors of the Company.

Profiles of these directors are set out in the Company's 2002
annual report.

2. Candidates for Supervisors

Zou Haifeng, Yang Jigang, Yan Weidong, Li Shumin are proposed
for re-election as supervisors of the Company. Profiles of these
supervisors are set out in the Company's 2002 annual report.
Employees' representative in the supervisory committee shall be
democratically elected by the Company's employees.

By Order of the Board
Zhang Liyan
Company Secretary

Jilin, PRC
March 15, 2004


LUMBER WORLD: Chan Chun Initiates Winding up Petition
-----------------------------------------------------
The petition to wind up Lumber World Trading Limited is set for
hearing before the High Court of Hong Kong on April 7, 2004 at
10 o'clock in the morning.

Chan Chun Chiu Bob of Flat A3, 3/F., Block A, Wah Hoi Mansion,
254 Electric Road, North Point, Hong Kong, filed the petition on
February 4, 2004.

The Petitioners' solicitors are Chau Ming Wai of 34th Floor,
Hopewell Centre 183 Queen's Road East, Wan Chai, Hong Kong. Any
person who intends to appear at the hearing of the petition must
serve or send by post to Chau Ming Wai a notice in writing not
later than six o'clock in the afternoon of the 6th day of April
2004 (the day before the petition hearing).


MOON TUNG: Faces Winding Up Petition
------------------------------------
The petition to wind up Moon Tung Property Investment Company
Limited is set for hearing before the High Court of Hong Kong on
April 14, 2004 at 9:30 in the morning.

The Bank of China (Hong Kong) Limited of 14th Floor, Bank of
China Tower, No. 1 Garden Road, Central, Hong Kong, filed the
petition on February 12, 2004.

The Petitioners' solicitors are Arthur K.H. Chan & Co. of Unit
C1, 15th Floor, United Centre 95 Queensway, Hong Kong. Any
person who intends to appear at the hearing of the petition must
serve or send by post to Solicitors Arthur K.H. Chan & Co. a
notice in writing not later than six o'clock in the afternoon of
the 13th day of April 2004 (the day before the petition
hearing).


NEW TAISHIN: Winding up Hearing Set April 14
--------------------------------------------
The petition to wind up New Taishin Ravel Service Limited is set
for hearing before the High Court of Hong Kong on April 14, 2004
at 10 o'clock in the morning.

The International Air Transport Association located at 2nd Floor
80 Gloucester Road, Wanchai, Hong Kong, filed the petition on
September 23, 2003.

The Petitioners' solicitors are Tanner De Witt of 2308-23rd
Floor, Tower 2, Lippo Centre 89 Queensway Hong Kong. Any person
who intends to appear at the hearing of the petition must serve
or send by post to Solicitors Tanner De Witt a notice in writing
not later than six o'clock in the afternoon of the 13th day of
April 2004 (the day before the petition hearing).


SEEWIN COMPANY: Winding up Hearing Set April 7
----------------------------------------------
The petition to wind up Seewin Company Limited is set for
hearing before the High Court of Hong Kong on April 7, 2004 at
9:30 in the morning.

Chong Yuk Chuen, whose registered office is located at No. 30,
Sheung Chuk Yuen Village, Yuen Long, New Territories, Hong Kong,
filed the petition on February 4, 2004.

The Petitioners' solicitors are Chau Ming Wai of 34th Floor,
Hopewell Centre 183 Queen's Road East, Wan Chai, Hong Kong. Any
person who intends to appear at the hearing of the petition must
serve or send by post to Chau Ming Wai a notice in writing not
later than six o'clock in the afternoon of the 6th day of April
2004 (the day before the petition hearing).


SKY ASCENT: Faces Winding up Petition
-------------------------------------
The petition to wind up Sky Ascent Investment Limited is set for
hearing before the High Court of Hong Kong on April 7, 2004 at
9:30 in the morning.

Tai Tin Ho, whose registered office is located at Room 3, 21/F,
Block A, Kam Wah Garden, Tuen Mun, New Territories, Hong Kong,
filed the petition on February 4, 2004.

The Petitioners' solicitors are Chau Ming Wai of 34th Floor,
Hopewell Centre 183 Queen's Road East, Wan Chai, Hong Kong. Any
person who intends to appear at the hearing of the petition must
serve or send by post to Chau Ming Wai a notice in writing not
later than six o'clock in the afternoon of the 6th day of April
2004 (the day before the petition hearing).


WELLINE ENTERPRISE: Schedules Winding Up Hearing April 14
---------------------------------------------------------
The petition to wind up Welline Enterprise Limited is set for
hearing before the High Court of Hong Kong on April 14, 2004 at
9:30 in the morning.

The Bank of China (Hong Kong) Limited of 14th Floor, Bank of
China Tower, No. 1 Garden Road, Central, Hong Kong, filed the
petition on February 12, 2004.

The Petitioners' solicitors are Arthur K.H. Chan & Co. of Unit
C1, 15th Floor, United Centre 95 Queensway, Hong Kong. Any
person who intends to appear at the hearing of the petition must
serve or send by post to Solicitors Arthur K.H. Chan & Co. a
notice in writing not later than six o'clock in the afternoon of
the 13th day of April 2004 (the day before the petition
hearing).


WELLWAY ENGINEERING: Leung Ka Initiates Winding up Petition
-----------------------------------------------------------
The petition to wind up Wellway Engineering Limited is set for
hearing before the High Court of Hong Kong on April 7, 2004 at
9:30 in the morning.

Leung Ka Fai of Room 2504, Hay Ping House, Long Ping Estate,
Yuen Long, New Territories, Hong Kong, filed the petition on
February 6, 2004.

The Petitioners' solicitor is Tam Lee Po Lin, Nina of 34th
Floor, Hopewell Centre, 183 Queen's Road East, Wanchai Hong
Kong. Any person who intends to appear at the hearing of the
petition must serve or send by post to Solicitors Tam Lee Po
Lin, Nina a notice in writing not later than six o'clock in the
afternoon of the 6th day of April 2004 (the day before the
petition hearing).


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I N D O N E S I A
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BANK DANAMON: Starts Dollar Bond Roadshow
-----------------------------------------
PT Bank Danamon Indonesia (BDMN.JK), Indonesia's fifth largest
lender will kick off the roadshow for its dollar-denominated
bond Wednesday in Jakarta, people involved in the plan said
Monday, Dow Jones reports.

The bank is expected to price the bond up to $300 million after
it finishes the roadshow in London, they said.  The people
involved in the plan declined to indicate the bond yield.

Bank Danamon is raising cash to boost its capital after its
purchase of a majority stake in PT Adira Dinamika, wherein the
deal would be completed this month.

The bank will move the marketing presentation to Singapore
Thursday, followed by Hong Kong Friday, and London next Monday,
they told Dow Jones Newswires.


BANK NEGARA: May Issue Sub Debt This Year
-----------------------------------------
Bank Negara Indonesia (BBNI.JK) may issue subordinated debt
later this year to improve its capital base, reports Bisnis
Indonesia, Dow Jones, reported on Monday.

The daily quotes BNI's president director Sigit Pramono as
saying that the bank's management is still discussing the plan
with its financial advisers.

"I can't mention the size (of the sub debt) yet as we are still
discussing it," Sigit said, according to the report.

The state-owned bank was involved last year in a $200 million
lending fraud revolving around the payment of fictitious letters
of credit by one of its Jakarta branches, Dow Jones added.


BANK NEGARA: Seeks Additional Funds to Increase Capital
-------------------------------------------------------
Bank Negara Indonesia (BNI) (JSX:BBNI) is seeking government
approval for a rights issue of 6 per cent-10 per cent of its
shares to raise Rp1 trillion (US$119 million) in fresh funds,
Asia Pulse reports.

The new shares will be an addition to a 30 per cent stake to be
sold by the government in the state-owned bank through secondary
public offering. The divestment of the 30 per cent stake of the
government will be used to help finance state budget.

Sigit Pramono, the bank President said, BNI needs additional
funds to increase its capital, improve its capital adequacy
ratio (CAR) and for business expansion.

Mr. Pramono said the right issue and the secondary public
offering are scheduled to take place at the same time in June.

The planned divestment of a 51 percent stake of the government
drew strong protest from the bank management and legislators.


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J A P A N
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DAIEI INC.: Set Sales Target at JPY1.43 Trillion
------------------------------------------------
Daiei Inc. expects to meet its unconsolidated sales target at
1.43 trillion yen for the year to February 2004, as sales were
roughly the same on a same-store basis as in the previous year,
Kyodo News reports. Daiei President Kunio Takagi has said the
company can meet its pretax profit target of 16 billion yen for
the year.

The key creditor banks of Daiei Inc. obtained approval from
other financial institutions on a debt-reduction plan on
February 10, TCR-AP reported recently. The move came as the
creditors finalized a bailout package for the debt-ridden retail
chain operator.


DAIE INC.: Shares Up 11% Monday
-------------------------------
Shares of Daiei Inc. gained as much as 11 percent after the
company said sales rose in the six months ended February 29,
compared with its earlier estimate of a decline. The Company
surged as much as 37 yen to 385 and changed hands at 370, up 6.3
percent, as of 10:17 A.M. in the Tokyo Stock Exchange trading.

For the full-year, the retailer's sales were unchanged, compared
with an earlier estimate of a 1 percent drop.


ISHIKAWAJIMA-HARIMA: Shares Down 11% Monday
-------------------------------------------
Ishikawajima-Harima Heavy Industries Co. shares fell as much as
11 percent, after it cut its full-year earnings forecast to a
loss of 39 billion yen ($351 million) from break even, Bloomberg
News reported on Tuesday. The shares dropped as much as 17 yen
to 144 on Monday and were traded at 146 yen as of 9:20 A.M. in
Tokyo.

The heavy machinery maker, which also builds ships and oil
refineries, previously forecast it would be break even in the
financial year ending March 31, from a net loss of 9.67 billion
yen the previous year. The Company said it would halt year-end
dividend payments because of the expected loss. It paid 1.5 yen
a share for the year ended last March.


KAWASAKIKO CONTAINER: Port Equipment Firm Enters Bankruptcy
-----------------------------------------------------------
Kawasakiko Container Terminal K.K. has been declared bankrupt,
according to Teikoku Databank America. The port equipment
management firm, which is located at Kawasaki-shi, Kanagawa 210-
0869, Japan, has total liabilities of US$52.50 million.


K.K. PURAIMU: Enters Bankruptcy
-------------------------------
K.K. Puraimu Japan has been declared bankrupt, according to
Teikoku Databank America. The meat-processing firm, which is
located at Sapporo-shi, Hokkaido, 007-0825 Japan, has total
liabilities of US$38.33 million.


MIMATSU KIGYO: Office Space-Leasing Firm Files Bankruptcy
---------------------------------------------------------
Mimatsu Kigyo K.K. has been declared bankrupt, according to
Teikoku Databank America. The office space-leasing firm, which
is located at Sapporo-shi, Hokkaido 060-0063, Japan, has total
liabilities of US$54.17 million.


NISSHO IWAI-NICHIMEN: JCR Assigns BBB- Rating
---------------------------------------------
Japan Credit Rating Agency (JCR) has assigned a BBB- rating to
the bonds of Nissho Iwai-Nichimen Holdings Corporation.

Issue Amount (billion) Issue Date Due Date Coupon
Bonds no.1 (guaranteed by Nichimen and Nissho Iwai) Y25 Mar. 25,
2004 Mar. 24, 2006 3.00%

Covenants: Negative Pledge
Commissioned Company: No

RATIONALE:

JCR has assigned a BBB- rating to the senior debts of Nissho
Iwai-Nichimen Holdings on February 13, 2004. Since then there
have been no significant changes affecting the rating.

The bonds are guaranteed by the subsidiaries Nichimen and Nissho
Iwai. Nichimen and Nissho Iwai will merge on April 1, 2004. The
new entity after merger Sojitz will become the guarantor
thereafter.

Nissho Iwai-Nichimen Holdings (NNH) is a pure holding company
for Nichimen and Nissho Iwai.


SKYMARK AIRLINES: Postpones Tokyo-Naha Service
----------------------------------------------
Skymark Airlines Co. will postpone the originally scheduled mid-
July launch of an air route linking Tokyo's Haneda airport and
Naha airport in Okinawa Prefecture possibly to March 2005,
according to Kyodo News. The airline blamed the postponement on
the scarcity of high-quality used Boeing 767s it wanted to lease
for the service.

Skymark Airlines Co. President Shinichi Nishikubo plans to
reinforce the discount carrier's infrastructure, TCR-AP reported
recently. The newly appointed President said he would upgrade
the carrier's inefficient computer system within a year to
improve reservation handling, check-in services and other
operations. The airline entered the domestic airline market in
1998 as the first newcomer in 35 years. It has yet to achieve a
full-year profit.


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K O R E A
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HYNIX SEMICONDUCTOR: Eyes $800M China Chip Plant
------------------------------------------------
Hynix Semiconductor Inc. plans to invest up to $800 million in
its first chip plant in China as it looks to carve out new
markets and avoid global tariff problems, according to Reuters.

Loss-making Hynix is in talks with the government of the eastern
industrial city of Wuxi, hoping to set up a plant to make eight-
inch DRAM chips, possibly via a joint venture with a local firm.
An investment official with the Wuxi government said a decision
could be made in June.


LG CARD: Enters Capital Reduction Scheme
----------------------------------------
LG Card Co. decided to carry out a reduction in capital to
improve its financial condition following a major bailout by
creditors, according to Yonhap News. The credit card issuer said
that move would involve a 43.4 to one capital reduction for the
firm's 347.97 million shares.


SK GROUP: Moves to Shake off 'Chaebol' Image
--------------------------------------------
SK Group plans to abolish the group's public relations (PR)
center in the long term, according to Yonhap News on Monday. The
PR center for SK group was the last symbol of family-owned
management in the company structure.


SSANGYONG MOTOR: Chinese Firm Presents $500M Bid
------------------------------------------------
China National Bluestar Group Corporation gave its final bid for
the takeover of Ssangyong Motor Co. on Monday, accelerating
creditors' efforts to sell off the troubled automaker, The Maeil
Business newspaper reports. The bid is estimated at $500 million
in value.

Bluestar's final bid, filed with Samil PriceWaterhouseCoopers,
the lead manager in the sale of Ssangyong, contains the
prospective buyer's proposed takeover price and other specific
conditions.


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


ANSON PERDANA: Change in Audit Committee
----------------------------------------
Anson Perdana Berhad announced on 15 March 2004 at the Kuala
Lumpur Stock Exchange the resignation of a member from the Audit
Committee.

Details are as follows:

Date of Change:  11 March 2004

Type of Change:  Resignation

Designation:  Member of Audit Committee

Directorate:  Independent and Non-Executive

Name:    TUAN HAJI ABDUL BIN MOHD. HASSAN

Age:    66

Nationality:  Malaysian

Qualifications:  Not Applicable

Working Experience
And Occupation:  Not Applicable

Directorship of
Public Companies
(if any):   Seal Incorporated Berhad

Family Relationship
With any Director
And/or Major
Shareholder of the
Listed Issuer:  None

Details of any
Interest in the
Securities of
The Listed Issuer or
Its Subsidiaries:  None

Composition of
Audit Committee
(Name and Directorate
of members after change)Yim Weng Kheong - Member
    (Executive)

Remarks The Company will source for candidates
to be appointed as independent members
of the Audit Committee in due course.

Anson Perdana Berhad is involved in property development. It is
also involved, through its subsidiaries, in the trading of
building materials and timber products, and the manufacturing of
large diameter concrete pipes and sound barrier system.

The 1997 financial crisis adversely affected the operations of
the group, and in the year 2000, disposed of their plantation
interests in Perak for cash in order to meet working capital
requirements.

Because of adverse financial conditions, Anson developed an
integrated debt-restructuring scheme with financial
institutions, trade and other creditors.

However, the company announced in June 2003 that the
restructuring scheme may not be viable and that it was exploring
other alternatives to address its dire financial condition.


ANTAH HOLDINGS: Status of Litigation
------------------------------------
The Board of Directors of Antah Holdings Berhad wishes to inform
the public on the following updates on the status of Antah's
involvement in litigation, from the period from 11 February 2004
to 10 March 2004:

1. Financial Institution

The hearing dates and status in respect of the
claims made by the following financial institutions
are as follows:

Claimant:  Bank of Tokyo- Mitsubishi
Suit No:  D4-22-1940-2002
Hearing Date: 6 July 2004
Status:  Hearing of Appeal

Claimant:  RHB Sakura Merchant
Suit No:  MT4-22-921-2002
Hearing Date: 16 March 2004
Status:  Hearing of Appeal

Claimant:  Aseambankers Malaysia
Suit No:  D3-22-152-2003
Hearing Date: 15 April 2004
Status:  Hearing

Claimant:  EON Bank Berhad
Suit No:  D6-22-240-2003
Hearing Date: 22 March 2004
Status: Hearing of Appeal of Extension of
Time

Claimant:  Mizuho Corporate Berhad Ltd.
Suit No:  D1-22-280-2003
Hearing Date:
Status: Filed and served Notice of Appeal
on 16 February 2004; and Pending
Filing of Stay Application

Claimant:  RHB Bank Berhad
Suit No:  D4-22-1401-03
Hearing Date: 11 May 2004
Status:  Hearing

There are no material developments to the other claims by
financial institutions against Antah.

2. Non-Financial Institution


Claimant:  Ng Ah Hooi

Suit No:  S-22-483-2003
Hearing Date: 9 June 2004
Status:  Mention for Case Management

Hearing Date: 19 April 2004
Status: Hearing for Striking Out
Application

Hearing Date: 22 March 2004
Status:  Hearing for Inter-Parte Injunction

Claimant:  Sing Motor Works Sdn. Bhd.
Suit No:  52-53319-03
Hearing Date: 10 May 2004
Status:  Hearing

Claimant:  Public Merchant Bank Berhad
Suit No:  S2-52-16651-03
Hearing Date: 29 March 2004
Status:  Mention

Claimant: Supermix Concrete (Malaysia)Sdn.
Bhd.
Suit No:  S4-52-4122-2003
Hearing Date: 31 March 2004
Status:  Mention

Claimant:  Global Max Print Sdn. Bhd.
Suit No:  72-1905-03
Hearing Date: 6 April 2004
Status:  Mention

Claimant:  Techvance Marketing Sdn. Bhd.
Suit No:  52-5034-03
Hearing Date: 7 April 2004
Status:  Mention

There are no material developments to the other claims by non-
financial institutions against Antah.

3. Corporate Guarantee

  Claimant:  Arab-Malaysian Bank Berhad
  Suit No:  S7-22-584-2002
  Hearing Date: 21 April 2004
  Status:  Hearing

  Claimant:  Hong Bee Hardware Co. Sdn. Bhd.
  Suit No:  52-2241-2003
  Hearing Date: 21 April 2004
  Status:  Hearing

There are no material developments to the other claims against
companies where Antah has provided a corporate guarantee.
Negotiations are currently ongoing with lenders and creditors
for the adoption of the proposed debt
restructuring scheme.


BERJAYA LAND: Proposes Disposal of Shares and Stocks
----------------------------------------------------
Berjaya Land Berhad announces on 15 March 2004 on the Kuala
Lumpur Stock Exchange the proposed disposal for cash by Berjaya
Land and its subsidiaries of up to 200 million ordinary shares
of RM1.00 each in Berjaya Sports Toto Berhad; and/or up to RM200
million nominal value 8% irredeemable convertible unsecured loan
stocks 2002/2012 in Berjaya Sports Toto to potential investors.
Prices are to be determined later.

The full text of the announcement appears below:

We, Berjaya Land Berhad, refer to the announcements dated 14
August 2003 and 11 February 2004 and the Circular to the
shareholders of B-Land dated 28 February 2004 in relation to the
above.

Commerce International Merchant Bankers Berhad, on behalf of the
Board of Directors of B-Land, is pleased to announce that the
shareholders of B-Land, at the Extraordinary General Meeting
("EGM") of B-Land held on 15 March 2004, have approved and
passed the resolution pertaining to the Proposed Disposal as set
out in the Notice of EGM dated 28 February 2004.


BERJAYA SPORTS: Converted Unsecured Loan Stocks
---------------------------------------------------
In accordance with parent company Berjaya Land Berhad's proposed
disposal of shares and conversion of unsecured loan stocks,
Berjaya Sports Toto Berhad wishes to announce that:

(i) 3,971,368 new ordinary shares of RM1.00 each arising
from the aforesaid Conversion; and

(ii) 137,960 new ordinary shares of RM1.00 each issued
pursuant to the aforesaid Scheme

will be granted listing and quotation with effect from
9.00 a.m., Wednesday, 17 March 2004.

This Kuala Lumpur Stock Exchange Announcement was dated 15 March
2004.


KIA LIM BERHAD: Applies for Exception
-------------------------------------
Kia Lim Berhad wishes to announce the following:

Application to the Securities Commission by E.S. Ng Holdings Sdn
Bhd; Kia Lim Realty Sdn Bhd (KL Realty); Kia Lim Timber Trading
Sdn Bhd (KL Timber); Ng Hoo Tee Holdings Sdn Bhd (NHTH); Datuk
Ng Eng Sos - Bah Chik, Ng Yeng Keng, Ng, Ka Hiat and Ng Yeng
Keng Holdings Sdn Bhd (collectively known as "Concert Parties)
from the obligation to undertake a mandatory general offer for
all remaining shares in Kia Lim not already owned by them under
Practice Note 2.9.3 of the Malaysian Code on Takeovers and
Mergers 1998, resulting from:

The proposed debt restructuring Scheme involving the settlement
of outstanding principal and interest amounting to RM44, 667,924
owing by the subsidiaries of Kia lim to the participating
bankers by way of:

(A) Settlement of 40% of outstanding principal by
the issuance of RM15, 716,000 nominal value of 4%,
10-year redeemable convertible secured loan stocks
of RM1.00 each to be issued at 100% of its nominal
value to the participating bankers;

B) The restructuring of 40% of the outstanding
principal; and

(C) The settlement of 20% of the outstanding
principal and outstanding interest by the issuance
and allotment of 13,235,924 new shares to the
participating bankers (hereinafter referred to as
the "Application")

This announcement is dated 15 March 2004.

In relation to this, we would also like to refer to our
announcement dated 29 October 2003:

AmMerchant Bank Berhad, on behalf of the Board of Directors of
Kia Lim, wishes to announce that the Securities Commission
("SC"), vide their letter dated 9 March 2004, has not approved
the Application by the Concert Parties from the obligation to
undertake a mandatory general offer for all remaining shares of
Kia Lim not already owned by them under the Practice Note 2.9.3
of the Malaysian Code on Takeovers and Mergers, 1998 resulting
from the Proposed DRS.

Nevertheless, the Board of Directors of Kia Lim intends to
proceed with the other proposals, as announced on 29 October
2003, which are pending the decision of the SC.

This Kuala Lumpur Stock Exchange announcement is dated 15 March
2004.


MBF HOLDINGS: Resumes Trading
-----------------------------
In accordance to the Listing's Circular No. L/Q: 23252 of 2004,
MBF Holdings Berhad wishes to announce that trading of the
company's securities resumed at 9 am on Monday, 15 March 2004.

This Kuala Lumpur Stock Exchange Announcement is dated 15 March
2004.


PSC INDUSTRIES: Proposes Debt Restructuring Scheme Revisions
------------------------------------------------------------
Further to the announcement on 10 March 2004, Avenue Securities
Sdn Bhd on behalf of the Board of Directors of PSC Industries
Berhad, wishes to announce that the applications in relation to
the Revised Proposals for Debt Restructuring and Restricted
Offer for Sale have been submitted to the Securities Commission,
Foreign Investment Committee and Ministry of International Trade
and Industry on 15 March 2004.

This Kuala Lumpur Stock Exchange announcement is dated 15 March
2004.


RHB CAPITAL: Sues Former Chairman Abdul Rashid
----------------------------------------------
Dow Jones reported Monday that Malaysian banking group RHB
Capital Bhd has filed a MYR20 million legal suit against its
founder and former executive chairman, Abdul Rashid Hussain.

In a statement, RHB Capital said it filed the suit on February
16, claiming damages and costs. The bank did not say though, why
they are seeking compensation or what caused the legal action.

Malaysian banker Sulaiman Abdul Rahman now controls RHB Capital
after it was taken over by Utama Banking Group Bhd in 2002.
Utama is a small banking group based in the eastern state of
Sarawak.

Bank officials were not immediately available for comment.


RHB CAPITAL: Asked to Explain Suit
----------------------------------
Chong Fui Tzy, Sector Head for Issues and Listing Group
Regulations of the Kuala Lumpur Stock exchange, in a letter
furnished to the KLSE on 15 March 2004 has asked RHB Capital
Berhad to clarify a suit that was reported in The Sun, The Edge
Financial Daily on 12 March 2004.

A copy of the letter appears below:

Query Letter content:

We refer to the above news article appearing in The Sun, The
Edge Financial Daily, Page 3, on Friday, 12 March 2004, a copy
of which is enclosed for your reference.

In particular, we would like to draw your attention to the
underlined sentence, which is reproduced as follows:

" RHB Capital Bhd has filed a legal suit against its former
executive chairman, Tan Sri Rashid Hussain, claiming a sum of
RM20 million plus damages."

In accordance with the Exchange's Corporate Disclosure Policy,
you are requested to furnish the Exchange with an announcement
for public release confirming or denying the above reported
sentences after due and diligent enquiry with all the directors,
major shareholders and all such other persons reasonably
familiar with the matters about which the disclosure is to be
made in this respect.

In the event you deny the above reported sentences, you are
required to set forth facts sufficient to clarify any misleading
aspects of the same.

In the event you confirm the above reported sentences, you are
required to set forth facts sufficient to support the same.

Please furnish the Exchange with your reply within one (1)
market day from the date hereof.


Yours faithfully


CHONG FUI TZY
Sector Head, Issues & Listing
Group Regulations
HTH/TFM
Copy to: Securities Commission (via fax)


RHB CAPITAL: Answers Query
--------------------------
RHB Capital Berhad wishes to refer to Bursa Malaysia's query in
relation to the article appearing in The Sun, The Edge Financial
Daily on 12 March 2004.

RHB Capital Berhad wishes to confirm that a Writ of Summons has
been filed at the Kuala Lumpur High Court on 16 February 2004
(amended Writ of Summons filed on 25 February 2004) and served
on Tan Sri Dato' Abdul Rashid Hussain on 4 March 2004, claiming
inter alia, a sum of RM20 million, damages, interest and costs.

This Kuala Lumpur Stock Exchange announcement is dated 15 March
2004.


TENAGA NASIONAL: Reveals Boardroom Changes
------------------------------------------
Tenaga Nasional Berhad, in an announcement dated 15 March 2004
on the Kuala Lumpur Stock Exchange, says that a new director has
been appointed to the company's Board. Details of the
appointment are as follows:

Date of Change:  8 March 2004

Type of change:  Appointment

Designation:  Director

Directorate:  Non Independent and Non Executive

Name: Rajo Dato' Zaharotan binti Raja Zainal
Abidin

Age: 56

Nationality: Malaysian

Qualifications: Masters in Economics, University of
Lueven, Belgium

Honors Degree in Economics, University
of Malaya

Working Experience
And Occupation: Assistant Director, external Aid
Section, EPU, Prime Minister's
Department

Principal Assistant director, Industries
Division, Ministry of Internal trade and
industru

Deputy Director, Public Enterprises
Sector, Implementation Coordination unit

Deputy Director, Unit for Monitoring
Government Companies, treasury

Director, Trade and industry Division,
EPU, prime Minister's Department

Deputy Director (Macro), EPU, Prime
Minister's Department

Deputy director general (Sectoral), EPU,
Prime Minister's Department

Currently holding the post of Director
General, EPU, prime Minister's
Department

Directorship of Public
Companies (if any) UDA Holdings Berhad

Family Relationship
with any director and/or
major shareholder of the
listed issuer  Nil

Details of any interest
in the securities of the
listed issuer or its
Subsidiaries        Nil


WCT ENGINEERING: Discloses Dealings
-----------------------------------
WCT Engineering Berhad wishes to announce a Principal Officer's
Disclosure of Dealings in Securities. This is in accordance to
Chapter 14 of the Malaysia Securities Exchange Berhad's Listing
Requirements.

The full disclosure appears below:


Name of Principal Officer: Mr. Chan Thit Yee
Description of
Security
Date
Transacted
No. of
securities
Disposed
% of Warrant
Outstanding
Price per
warrant
Warrants
(2000-2005)
10.03.2004
3,000
Negligible
RM3.34
Warrants
(2000-2005)
12.03.2004
3,000
Negligible
RM3.34
Warrants
(2000-2005)
12.03.2004
3,000
Negligible
RM3.38


This Kuala Lumpur Stock Exchange announcement is dated 15 March
2004.


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


MANILA ELECTRIC: Defers Plan to Tap Capital Markets
---------------------------------------------------
Manila Electric Company (Meralco), the largest power distributor
in the Philippines, may again postpone its plan to tap the
capital markets for funds until after the May elections,
BusinessWorld reports, citing the utility's President Jesus
Francisco.

Mr. Francisco said the planned postponement is still subject to
review by the company's finance department.

"There's a feeling expressed by some, although I don't know if a
final decision has been made, that (the market) might ask a lot
of questions which we cannot answer," he said. He didn't
elaborate on the matter.

Mr. Francisco said in the event Meralco finally pushes through
with its borrowing plan, it will likely raise funds from the
international market, possibly in the U.S.

Meralco was originally scheduled to tap the capital markets by
issuing $200 million worth of financial instruments in early
2004. This was later moved to late March or early April due to
an order issued by the Supreme Court in December, which barred
the utility from collecting a 0.12 Philippine peso per kilowatt
hour provisional rate increase that state agency Energy
Regulatory Commission granted.


PHILIPPINE AIRLINES: Offers Las Vegas Flight
--------------------------------------------
Philippine Airlines (PAL) offers a route to Las Vegas, Nevada
U.S.A., which commences Tuesday, AFX Asia reports. Las Vegas is
PAL's fifth U.S. destination and its 24th international flight
route. The other four U.S. destinations are, Los Angeles, San
Francisco, Honolulu and Guam.

PAL's service to Las Vegas will operate four times a week, with
departures from Manila every Tuesday, Thursday, Saturday and
Sunday at 4:40 p.m. Arrival in Vancouver and Las Vegas is at
12:45 p.m. and 4:40 p.m., respectively.

PAL President and Chief Operating Officer Avelino Zapanta in a
statement to AFX Asia said, the opening of the Las Vegas route
is a major step in the airline's goal towards full
rehabilitation, and it would give PAL a wider presence in the
U.S., which is the company's most important market.


PHILIPPINE LONG: Hires JP Morgan as Units Financial Advisor
-----------------------------------------------------------
Philippine Long Distance Telephone Company (PLDT) has chosen
investment bank JP Morgan Chase as financial advisor for the
restructuring of affiliate Pilipino Telephone Corporation's
(Piltel) debts of 22.5 billion pesos, AFX Asia reported on
Monday.

According to sources, JP Morgan Chase came up with several
restructuring proposals on March 11 and the creditors found the
two proposals acceptable. In a disclosure to the stock exchange,
PLDT said Piltel's debt restructuring may involve its profitable
wireless unit Smart Communications Incorporated.

In a Philippine Daily Inquirer report, PLDT has offered to pay
Piltel's creditors with long term sovereign dollar bonds which
involve Philippine debt papers with a 15-year maturity and a
fixed interest coupon of 2.25 percent per annum for each dollar
equivalent of the debt.

PLDT also asked the creditors to consider swapping Piltel's
outstanding debt for a 10-year obligation of Smart,  fuelling
speculation of an eventual Smart-Piltel merger.

The second option of converting the debts into Smart's 10-year
obligations will involve an annual interest rate of 2.5 percent
payable semi-annually.

The creditors found the two proposals acceptable as these will
not mean losses for banks.


PHILIPPINE LONG: Clarifies Unit's Debt Payments
-----------------------------------------------
This is in reference to the news article entitled "PLDT offers
Smart, government bonds for Piltel debts" published in the March
15 issue of the Philippine Daily Inquirer.  The article reported
that" Philippine Long Distance Telephone Company has offered to
pay creditors of Pilipino Telephone Corporation with long term
sovereign dollar bonds to settle the remaining PhP22.5 billion
obligations of its losing subsidiary.  PLDT also asked creditors
to consider swapping the outstanding Piltel debt into a 10-year
obligation of its profitable unit Smart Communications
Incorporated.

During the meeting last week, PLDT proposed to settle the
obligations with the equivalent amount of 15-year ROP's
(Republic of the Philippines).  The 15-year ROP's, according to
the source would carry a fixed interest coupon of 2.25 percent a
year for each dollar equivalent of the debt.  The option to
convert the Piltel debt into Smart obligation would carry an
interest of 2.5 percent a year with the arrears payable semi-
annually, according to a source.

Philippine Long Distance Company in its letter dated March
15,2004 stated that:

Philippine Long Distance Telephone Company confirms that last
March 11 2004, Smart Communications Incorporated met with
certain creditors of Pilipino Telephone Corporation (PILTEL) and
presented them with various options regarding Piltel's
indebtedness and this ongoing dialogue with certain of Piltel's
creditors has enabled Smart to continue modifying and refining
these various options. Smart is aiming to present a proposal
soon at which time an appropriate disclosure with further
details will be made.

For your information,
Jose G. Cervantes
Senior Vice President
The Philippine Stock Exchange


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


FLEXTECH HOLDINGS: Trading Halt Lifted
--------------------------------------
Flextech Holdings Limited announces, through Chief Financial
Officer Chow Kek Tong, that trading of the company's shares
resumed as of 9 am on Tuesday, 16 March 2004.

Trading had been initially suspended on 12 March 2004 when
unusual trading activity was observed on the bourse.


FLEXTECH HOLDINGS: To Acquire Hong Kong-based Dynax
---------------------------------------------------
Mainboard-listed Flextech Holdings Limited (Flextech) announced
on Monday, 15 March 2004 that the Group has entered into an
agreement to acquire the entire issued and paid-up capital of
Hong-Kong based Dynax Digital Creation Limited (Dynax) for a
total consideration of US$12 million (approx S$20 million).
The Dynax group is turnkey solutions provider for semiconductor
application in Digitainment and communication products. It is
also a regional representative and distributor of a
comprehensive range of IC semiconductor components with key
markets in North Asia.

The agreement which was arrived at on a willing buyer-willing
seller basis with the founders of Dynax, will be paid for by the
issue of Flextech shares at the price of S$0.53 per share. This
share price is based on the weighted average price for trades
done on the SGX-ST for the five full market days up to 15 March
2004. The founders of Dynax are Mr Steven Shen Hing, Mr Wu Sze
Wing, Mr Au Wai Leung and Mr Tony Cheung Ting Chi.

Under the terms of the agreement, the Flextech shares issued to
the Vendors will be subject to a staggered 3-year moratorium (ie
one third of the shares for each of the three years) from the
completion date of the transaction.

Dynax is also required to achieve an unaudited proforma group
profit after tax for the 12 months ended 31 March 2004 of no
less than US$4 million (or approx S$7 million). It is also
required to have an unaudited proforma group net tangible assets
(NTA) of at least US$4 million as at 31 March 2004.

Dynax will also provide profit guarantees of US$4 million for
the financial years ending March 31, 2005 and 2006.

The acquisition of Dynax will raise the net tangible assets per
share (NTA/share) of Flextech by 42% from 16.06 cents to 22.76
cents. In terms of earnings per share, this will be increased
from 1.89 cents to 4.56 cents - up 141%. If the acquisition was
done in FY03, the Group revenue of Flextech would be increased
by 81% from S$372 million to S$673 million, based on the Dynax
Group's last audited results for FY03. The Dynax Group reported
a revenue of S$301 million for FY03.

The acquisition of Dynax is subject to the approval of
shareholders at an EGM to be held at a later date. None of the
Directors or controlling shareholders of the Company has any
interest, direct or indirect, in the transaction.

Mr Michael Loh, Executive Chairman of Flextech, who is
instrumental to bringing together Flextech and Dynax, said,
"Flextech's acquisition of Dynax will allow us to maximize
significant synergies within the two Groups. Dynax with its
focus on higher value technologies and turnkey solutions will
expand Flextech's portfolio of value-added services and products
- thereby giving it ready access to new product segments
especially in the consumer electronics area. It will allow
Flextech to scale up the value chain readily. In addition,
Flextech can also have ready entry into the North Asian markets
via Dynax's existing established network in North Asia, in
particular China. We believe that this acquisition is in line
with our overall vision and strategy to grow Flextech into a
Pan-Asian electronics group and to bring enhanced value for our
shareholders."

Commenting on the proposed acquisition, Mr Alex Onn, Chief
Executive Officer of Flextech Holdings Limited said, "We are
pleased to announce this milestone with Dynax. Dynax, which is a
profitable group, provides a strategic fit in our operations as
it is already involved in similar businesses to ours. There is
immense synergistic value and operational efficiencies to be
derived from this transaction. This proposed acquisition would
also allow us to penetrate into the fast-growing consumer
entertainment segment and leverage on the Dynax Group's
entrenched customer network in China to strengthen our presence
in North Asia. Consumer demand for digital entertainment and
portable electronics products is growing rapidly especially in
China where consumers have rising disposable income and are
increasingly exposed to new technologies. Dynax, which has given
us profit guarantees, will also contribute to the overall
profitability of the Flextech Group. Based on Flextech's recent
FY03 results announced and Dynax's last audited results, the
current Flextech shares are trading at a PER of 12.8 times. In
our recent results announcement to SGX, we stated that Flextech
is expected to perform better in 2004. Barring unforeseen
circumstances, we believe our financial ratios will improve
further."

The proposed acquisition of Dynax is another step taken by
Flextech towards expanding its presence in North Asia. The Group
had earlier announced six new directors on board as part of the
Group's overall strategy to drive growth in the Pan Asian
region, especially in North Asia.

About Dynax

Founded in Hong Kong in 1989 under the name of Dynax Electronics
Limited, the Dynax group is today a turn-key solution for
semiconductor application in Digitainment and communication
products. It is also a regional representative and distributor
of a comprehensive range of IC semiconductor components. The
Dynax Group, which has expertise in semiconductor and IC
designs, provides manufacturers with total solutions from design
to production.

As at the last audited financial year ended 31 March 2003, the
book value of the Dynax Group and its net tangible asset value
was S$6.1 million.

The net profit of Dynax in the last financial year was
approximately S$6.5 million.

About Flextech Holdings Limited

Founded in 1990, Flextech Holdings Limited is an investment
holding company in three main business segments namely
electronics components distribution, semiconductor equipment and
semiconductor testing and consumables.

Recently, Flextech has strengthened its focus on the
distribution of electronics components as its core business
activity. The Group is also focused on expanding its presence in
key semiconductor markets in Asia, particularly China, which is
expected to see strong growth ahead.

Flextech was named "Forbes 300 Best Small Companies" in year
2001. More information on Flextech can be found on its website:
www.flextechholdings.com.sg.


For more information, please contact:
Ms Florence Tan / Ms Tham Moon Yee / Mr Michael Loo
Stratagem Consultants Pte Ltd
Tel : 65 6227 0502
Fax : 65 6227 5663
Email : florence@stratagemconsultants.com /
tmy@stratagemconsultants.com / mikeloo@stratagemconsultants.com
Submitted by Chow Kek Tong, Chief Financial Officer on
15/03/2004 to the SGX


HIAP HOE LIMITED: Unit Disposes of Investment
---------------------------------------------
Hiap Hoe Limited wishes to announce that its wholly owned
subsidiary, Chew Eu Hock Construction Co. Pte Ltd has disposed
of its entire shareholding of 31% in Eng Tat Engineering Pte Ltd

at a nominal consideration of $1.

As the cost of investment has been fully provided in CEHC's
audited accounts for the financial year ended 31 July 2003, the
said disposal is not expected to have any material financial
impact on the consolidated earnings per share and net tangible
assets per share of the Company for the current financial year.

None of the directors or substantial shareholders has any
interest, direct or indirect, in the above disposal.

Hiap Hoe Limited is an investment holding company. The Group is
involved in residential housing construction as well as in the
public sector building market.

It has the following subsidiaries: Chew Eu Hock Construction
Company Pte Ltd and Yong Hock Trading Pte Ltd.


HONG LEONG: Change of Audit Committee Member
--------------------------------------------
The Board of Hong Leong Asia Ltd wishes to announce that Mr. Goh
Kian Hwee has been appointed as a member of the Audit Committee
in place of Mr. Qiang Chang Sun effective 15 March 2004. Mr.
Qiang will remain as a Director of the Company.

Mr. Goh who was earlier appointed non-executive Director of the
Company, is considered as an independent by the Board.

This announcement was submitted to the Singapore Stock Exchange
on 15 March 2004.


HONG LEONG: Appoints New Director
---------------------------------
Hong Leong Asia Ltd, in an announcement dated 15 March 2004 on
the Singapore Stock exchange, wishes to announce the appointment
of a new director to the Board.

Details of the appointment are as follows:

Date of Appointment:  15 March 2004

Name:     Goh Kian Hwee

Age:     49

Country of Principal
Residence:    Singapore

Whether the appointment
Is executive, and is so,
The area of responsibility Non-Executive

Working experience and
Occupations during the
Past 10 years:   A partner in the law firm M/s
Rajah and Tann
A partner in the law firm M/s Lee
and Lee from 1984 to 2001

Other Directorships:

Past:

Delifrance Ltd
China Development Corporation Ltd
Ambeca Pte Ltd
Lovells Lee and lee
Ayala International Holdings Ltd
Transmarco ltd
Blu Inc Group Ltd

Present:

Achieva Ltd
Hotel Negara Ltd
Hwa Hong Corporation Ltd
Hwa Hong Capital (Pte) Limited
MAE Engineering Ltd
Tenet Insurance Company Ltd (formerly known as The Hartford)
Insurance Company Ltd

Shareholdings in the
Listed issuer and its
Subsidiaries   Nil

Family Relationship
With any director and/or
Substantial shareholder
Of the listed issuer
or any of its principal
subsidiaries   Nil

Conflict of interest:  Nil

Information Required By Rule 704(7) (h)

Disclose the following matters concerning a director, chief
executive officer, general manager or other executive officer of
equivalent rank. If the answer to any question is yes, full
details must be given.

a.) Whether at anytime during the last 10 years, a petition
under any bankruptcy laws of any jurisdiction was filed against
him or against a partnership of which he was a partner?

  No

b.) Whether at any time during the last 10 years a petition
under any law of any jurisdiction was filed against a
corporation of which he was a director or key executive for the
winding up of that corporation on the ground of insolvency?

  No

c.) Whether there is any unsatisfied judgment against him?

  No

d.) Whether he has ever been convicted of any offense, in
Singapore or elsewhere, involving fraud or dishonesty which is
punishable with imprisonment for 3 months or more, or has been
the subject of any criminal proceedings (including any pending
criminal proceedings which he is aware of) for such purpose?

  No

e.) Whether he has ever been convicted of any offence, in
Singapore or elsewhere, involving a breach of any law or
regulatory requirement that relates to the securities or futures
industry in Singapore or elsewhere, or been the subject of any
criminal proceedings (including any pending criminal proceedings
which he is aware of) for breach?

  No

f.) Whether at any time during the last 10 years, judgement
has been entered against him in any civil proceedings in
Singapore or elsewhere, or a finding of fraud, misrepresentation
or dishonesty on his part, or he has been the subject of any
civil proceedings (including any pending civil proceedings which
he is aware of) involving an allegation of fraud,
misrepresentation or dishonesty on his part?

  No

g.) Whether he has ever been convicted in Singapore or
elsewhere of any offence in connection with the formation or
management of any corporation?

  No

h.) Whether he has ever been disqualified from acting as a
director of any corporation, or from taking part directly or
indirectly in the management of any corporation?

i.) Whether he has ever been the subject of any order,
judgement or ruling of any court, tribunal or governmental body,
permanently or temporarily enjoining him from engaging in any
type of business practice or activity?

  No

j.) Whether he has ever, to his knowledge, been concerned with
the management or conduct, in Singapore or elsewhere, of the
affairs of-

  i) any corporation which has been investigated
for a breach of any law or regulatory requirement governing
corporations in Singapore or elsewhere;

  ii) any corporation or partnership which has been
investigated for a breach of any law or regulatory requirement
that relates to the securities or futures industry in Singapore
or elsewhere, in connection with any matter occurring or arising
during the period when he was so concerned with the corporation
or partnership?


HONG LEONG: Proposes Dividends for Financial Year 2003
------------------------------------------------------
Hong Leong Asia, Ltd announced on 27 February 2004, the proposed
final and special dividends of 4 cents and 6 cents respectively
per share less 22% Singapore income tax for the financial year
ended 21 December 2003.

In view of the recent Budget Announcement made on the same day,
27 February 2004 on the reduction of the Singapore corporate
income tax rate from 22% to 20% for the year of assessment 2005,
payment of the Company's above proposed dividends will now be
less 20% Singapore income tax instead of 22% announced earlier.

The proposed final and special dividends, if approved by the
shareholders at the Company's forthcoming Annual General Meeting
on Wednesday, 28 April 2004, will be paid on 25 May 2004.

BY ORDER OF THE BOARD

Ng Siew Ping, Jaslin
Company Secretary

This Singapore Stock Exchange announcement is dated 15 March
2004.


HONG LEONG: Change in Director's Interests
------------------------------------------
Hong Leong Finance Ltd has issued a Notice of Change in
Director's Interests through Company Secretary Yeo Swee Gim
Joanne, dated 15 March 2004 at the Singapore Stock Exchange.

Details of which follows:

Part 1

1. Date of Notice to issuer:  15 March 2004

2. Name of Director:   Tan Tong

3. Please tick one or more appropriate box (es):

X  a Director's (including a director who is a
substantial shareholder) interest and change in interest
(Please complete Parts II and IV)

Part II

1. Date of Change of Interest:  15 March 2004

2. Name of Registered Holder:  Tan I. Tong

3.  Circumstance(s) giving rise to
the interest or change in interest Exercise of Share
Options/ Convertibles

4. Information relating to shares held in the name of the
Registered Holder:

No. of shares held before the change: 329,410

As a percentage of issued share capital: 0.07

No. of shares which are subject of this
Notice:      74,250

As a percentage of issued share capital: 0.02

Amount of consideration (excluding
Brokerage and stamp duties) per share
Paid or received:     $1.85

No. of shares held after the change: 403,660

As a percentage of issued share capital: 0.09

Part III

1. Date of change of interest:

2. Change in the percentage level:  From % to %

3.Circumstance(s) giving rise to the
  interest or change in interest

4. A statement of whether the change in the percentage level is
the result of a transaction or a series of transactions.

Part IV

1. Holdings of Director, including direct and deemed interest:

       Direct Deemed
No. of shares held before change:  329,410    0
% of issued share capital:      0.07        0
No. of shares held after change:  403,660        0
% of issued share capital:      0.09        0

No. of options held before the change: 375,000
No. of options held after the change:  300,750

Note:
% of issued share capital is based on the Company's issued share
capital of 431,822,249 shares of $1.00 each as of 15 March 2004.

Amount of consideration is denominated in Singapore dollars
unless


LYONNAISE ASIA: Issues Debt Claim Notice to Creditors
-----------------------------------------------------
The creditors of Lyonnaise Asia Water Private Limited (In
Members' Voluntary Liquidation), which is being wound up
voluntarily, are required on or before April 12, 2004 to send in
their names and addresses, with particulars of their debts or
claims and the names and addresses of their solicitors (if any)
to the Company's Liquidator, and, if so required by notice in
writing from the said Liquidator, are by their solicitors, or
personally, to come in and prove their said debts or claims at
such time and place as shall be specified in such notice or in
default thereof they will be excluded from the benefit of any
distribution made before such debts are proved.

RAMASAMY SUBRAMANIAM IYER
Liquidator.
c/o 8 Cross Street
#17-00 PWC Building
Singapore 048424.

The Singapore Government Gazette announcement is dated March 12,
2004.


ROBLE EAST: Creditors Must Submit Claims by April 15
----------------------------------------------------
The creditors of Roble East Asia Pte Ltd (In Members' Voluntary
Liquidation), which is being wound up voluntarily, are required
on or before April 15, 2004 to send in their names and addresses
and the particulars of their debts or claims and the names and
addresses of their solicitors (if any) to the Company's
Liquidator, and, if so required by notice in writing from the
said Liquidator, are by their solicitors or personally to come
in and prove their said debts or claims at such time and place
as shall be specified in such notice, or in default thereof they
will be excluded from the benefit of any distribution made
before such debts are proved.

SIM GUAN SENG
Liquidator.
10 Collyer Quay
#21-01 Ocean Building
Singapore 049315.

The Singapore Government Gazette announcement is dated March 15,
2004.


S.T.Y. ENTERTAINMENT: Releases Dividend Notice
----------------------------------------------
S.T.Y Entertainment Pte. Ltd. issued a notice of intended
dividend:

Address of Registered Office: Formerly of 35 Selegie Road
#09-28 Parklane Shopping Mall, Singapore 188307.

Court: Supreme Court, Singapore.

Number of Matter: Companies Winding Up No. 77 of 1995.

Last Day for Receiving Proofs: 12th March 2004.

Name & Address of Liquidator: The Official Receiver
The URA Centre (East Wing)
45 Maxwell Road #06-11
Singapore 069118.

CHAN WANG HO
Assistant Official Receiver.

The Singapore Government Gazette announcement is dated March 12,
2004.


SUNRISE OCEAN: Issues Winding Up Order Notice
---------------------------------------------
Sunrise Ocean & Trading Pte Ltd issued a winding up order notice
made on March 5, 2004.

Name and address of Liquidator: The Official Receiver
The URA Centre (East Wing) 45 Maxwell Road #06-11 Singapore
069118.

ESVARAN & TAN
Solicitors for the Petitioner.

The Singapore Government Gazette announcement is dated March 12,
2004.


TRACTEBEL SINGAPORE: Issues Debt Claim Notice to Creditors
----------------------------------------------------------
The creditors of Tractebel Singapore Pte Ltd (In Members'
Voluntary Liquidation), which is being wound up voluntarily are
required on or before April 12, 2004 to send in their names and
addresses and particulars of their debts or claims, and the
names and addresses of their solicitors (if any) to the
liquidators of the Company and, if so required by notice in
writing by the said liquidators are, by their solicitors or
personally, to come in and prove their debts or claims at such
time and place as shall be specified in such notice, or in
default thereof they will be excluded from the benefit of any
distribution made before such debts are proved.

NEO BAN CHUAN
BOB YAP CHENG GHEE
Liquidators.
c/o 16 Raffles Quay
#22-00 Hong Leong Building
Singapore 048581.

The Singapore Government Gazette announcement is dated March 12,
2004.


WEE POH: Issues Half-Year Financial Statement
---------------------------------------------
Wee Poh Holdings Ltd has released its Half-Year Financial
Statement for the period ended 31 Dec 2003.

This statement was posted on the Singapore Stock Exchange on 13
March 2004.

For full details of the financial statement, click on the
following link:

http://bankrupt.com/misc/Statement.doc


WEE POH: Reply to Queries Re Half-Year Financial Statement
----------------------------------------------------------
The Board of Directors of Wee Poh Holdings Ltd would like to
refer to the previous announcement dated 13 March 2004 in
relation to the Half Year Financial Statement for the period
ended 31 Dec 2003.

In response to the queries raised by the Singapore Exchange
Securities Trading Limited (SGX-ST) pertaining to the
abovementioned announcement, the Directors of the Company wish
to provide the following information:

1) As stated in the Half Year Results, the Group had total
current assets of S$9,410,000 and total current liabilities of
S$28,477,000 as at 31 December 2003. The total current
liabilities are largely attributable to the liabilities of Wee
Poh Construction Co. (Pte.) Ltd. (WPC), a subsidiary of the
Company. WPC is presently undergoing a scheme of arrangement
pursuant to which its creditors will assign the debts owing to
them by WPC to the Company in consideration for which they will
receive shares in the capital of the Company. The SOA had
already received the necessary approval of the WPC creditors at
the creditors' meeting held on 9 February 2004 is presently
pending the sanction of the High Court of Singapore. After the
completion of the SOA, the Group's capitalization and working
capital position would improve significantly.

2) In the unlikely scenario that the SOA is not completed, the
Directors are of the view that the Company will still be able to
continue as a going concern as the Company is only liable under
corporate guarantees in respect of a part of such liabilities.
As stated above, most of the total current liabilities of the
Group can be attributable to the liabilities of WPC. Out of such
liabilities, only S$9,515,000 is guaranteed by the Company and
the greater part of these liabilities are further secured over
two properties owned by WPC which are worth approximately
S$7,898,000 as at the date hereof. Therefore, even if the
corporate guarantees are called upon, given the total current
assets of the Company of S$10,362,000 as stated in the Half Year
Results, the Company will still have a positive working capital
position.

3) Under the revised terms and conditions of the standstill
agreement with the banks, the Group is required to maintain net
tangible assets of at least S$8.0 million. Based on the latest
available unaudited consolidated management accounts of the
Group, the NTA of the Group fell below the stipulated threshold.
However, taking into account the rights issue, which was
completed on 19 January 2003 and after the completion of the
SOA, the Group's, NTA will rise to above S$8.0 million.

4) Based on past and further on-going discussions to be held
with the banks, the Directors of the Company believe that in
view of the SOA, the banks will waive the breach or allow an
extension of time to the Company to comply with the standstill
agreement and as a consequence abide by the standstill agreement
until 31 August 2004. Further announcements on the outcome of
such discussions with the banks will be made in due course.

5) The Directors of the Company are of the view that sufficient
financial information has been disseminated to ensure orderly
trading in the Company's shares and confirmed that they are not
aware of any information that will have a material bearing on
investors' decision, which have yet to be announced.

Submitted by Ng Choon Kiat, Alternate Director to Managing
Director, Chan Wang Kin on 16/03/2004 to the Singapore Stock
Exchange.


WEE POH: Proposes Scheme of Arrangement for Unit
------------------------------------------------
The Board of Directors of Wee Poh Holdings Ltd wish to announce
that on 12 march 2004, the High Court of the Republic of
Singapore had adjourned to 16 April 2004 the hearing to obtain
Wee Poh Construction's sanction for the Scheme vis-.-vis the
Unsecured Creditors.

The hearing was adjourned as WTO Construction Pte Ltd, one of
the creditors of WBC, appeared at the hearing and through their
solicitors, requested for an adjournment on the basis that they
require more time to put forward their grounds for objecting to
the Scheme.

In the interim, and before the adjourned hearing date, Wee Poh
Construction intends to ascertain from WTO Construction, and to
address their concerns regarding the Scheme.

The Company will announce any significant developments
concerning the Scheme as and when appropriate.

Company Background:

Wee Poh Holdings Ltd is the investment holding company for the
Group. The Group is engaged in infrastructure works like highway
construction, earth works and civil engineering works.

Wee Poh Construction was started in 1977 to undertake civil
engineering projects from the Public Works Department, primarily
in highway construction.

The Group has emerged leaner and more concentrated in its core
expertise of civil engineering construction after winding-up
petitions were served on two of the Group's subsidiaries: W & P
Piling Pte Ltd (in liquidation) and WP Conc-Pact Pte Ltd (in
liquidation).

This announcement was submitted to the Singapore Stock Exchange
on 13 March 2004.


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


DATAMAT PUBLIC: Expects THB2.5B in Revenues
-------------------------------------------
Datamat PCL, one of Thailand's leading software companies,
disclosed on Tuesday that it targets a revenue of more than
THB2.5 billion and a net profit of at least THB200 million from
the income of larger projects, according to the Business Day
Newspaper.

Datamat Chief Executive Officer Vinai Pongsathorn told Business
Day that the company submitted biddings for government projects
and were confident of winning some of them.  The company hopes
to get at least three or more of the projects worth millions of
baht each.

In a report to the Stock Exchange of Thailand (SET), the company
disclosed an issuance of 1.085 billion new shares with a par
value of 2.50 baht to raise capital.  This would mark a rise of
THB3.71 billion from the 2.71 baht of registered capital.

"We are hopeful that we will be able to sell the shares at its
par value, although it may be higher than the current share
price in the market," Mr. Vinai said.  The funds raised will be
used partially to repay company debts of around 280 million baht
and the rest will be used for expansion, he added.

Shares of Datamat ended yesterday at 1.70 baht, down just over 9
percent, or 0.17 baht, after the announcement was made at the
SET.


EMC: Expects to Win THB2B Bid in Construction Projects
------------------------------------------------------
EMC PCL (EMC) said it will be able to post at least THB1.8
billion in income this year from its existing works and new
projects, which it expects to win a total of about THB2 billion
in construction projects for 2004, the Business Day Newspaper
reports.

EMC's profit reached THB109 million in 2003 compared to the
THB97 million it generated in 2002.

EMC Director Suthisak Lohswasdi said his firm plans to join in
the bidding for projects worth a combined THB3 billion this year
and expects to win about THB2 billion worth of those projects.
This will help EMC realise 10-20 percent of its income from new
projects in 2004, he added.

The income expected will make EMC's 2005 financial status
stronger, Mr.Lohswasdi said.

Currently EMC has a THB2.1 million worth of projects, which
comprises still on going old projects and new projects won in
the bidding process since the beginning of 2004.

Construction projects targeted for bidding by EMC include the
Bangkok subway, the motorway, the shortcut highway to the
southern provinces and the Suvarnabhumi International Airport
project, he said. EMC is interested in bidding for the
electricity system construction work for those projects, he
added.

Mr. Lohswasdi projects an increase in gross profit of about 10-
15 percent, which is at the same level of last year.  The rise
in prices of construction materials has only a minimal impact on
EMC's operations.


EMC: Sets Ordinary General Meeting
----------------------------------
The Board of Directors meeting of EMC Public Company Limited
held on March 15, 2004 at 2:00 p.m. has approved changes to its
membership:

(1) The Board of Directors passed the resolution to the
shareholders that the company will omit dividend payment for the
operation 2003.

(2) The ordinary general meeting of shareholder no. 6 should be
held on April 28, 2004 at 2:00 p.m. at 22nd Floor, Rasa Tower,
555 Phaholyothin Road, Ladyao, Jatuchak, Bangkok 10900.

(3) The date for closing the company share register for the
right to attend the meeting will be on April 7, 2004 at 12:00
p.m. until the ordinary general meeting of shareholders no. 6
ended, that the agenda for the meeting will:

(1) Certify the minutes of the ordinary general meeting of
shareholder 5,

(2) Certify the company's annual report and the board of
directors' report for 2003,

(3) Approve the company's balance sheets, profit and loss
statement, and cash flow statement as at 31st December 2003,

(4) Approve the declaration of no dividend payments for 2003's
operational results,

(5) Appoint new directors to succeed those completing their
terms, the authorized director (s) to sign and bind the company
and their remuneration for 2003,

(6) Appoint and auditor and fix the auditing fee for 2004,

(7) Consider other issues (if any).

Please be advised accordingly,
Your's faithfully,
(Komol Wongpornpenpap)
President


                            *********


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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Copyright 2004.  All rights reserved.  ISSN: 1520-9482.

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