TCRAP_Public/040421.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, April 21, 2004, Vol. 7, No. 78

                            Headlines

A U S T R A L I A

AMP LIMITED: Income Securities Buy Back Offer Strongly Supported
IVANHOE MINES: Appoints Investment Banks to Review Alternatives
MAYNE GROUP: Issues Update on Pharmacy Services Business
NATIONAL AUSTRALIA: Receives TrUEPrS Amended Tax Assessments
NATIONAL AUSTRALIA: Sets Shareholders General Meeting on May 21

NOVUS PETROLEUM: Submits Copy of Notices Issued by Medco Energi
WMC RESOURCES: Nickel Production Expected to Decrease


C H I N A  &  H O N G  K O N G

ARTKNIT KNITWEAR: Date For Hearing of Petition Set
CHEER CITY: Court Sets Date for Hearing
GAINS COMPANY: Court Schedules Hearing
I MOTORS: Date For Hearing Set For 19 May


J A P A N

KANEBO: To Conduct Internal Investigation
MITSUBISHI MOTORS: Cutting 4,500 Jobs


K O R E A

DAINONG CORPORATION: Has Two Prospective Buyers


M A L A Y S I A

ANSON PERDANA: MSEB Approves Extension
CHIN FOH: Registrar Changes Address
FORESWOOD GROUP: Applies For Restructuring
GULA PERAK: Gets Ratings Downgrade From RAM
MANGIUM INDUSTRIES: Announces a Change of Address by Registrar

MEDAS CORPORATION: Company Registrar Changes Address
METAL RECLAMATION: Returns to Profitability
MYCOM BERHAD: Changes Share Registrar's Address
OLYMPIA INDUSTRIES: Share Registrar Changes Address
PARK MAY: Seeks Approval for Shareholder's Mandate

POS MALAYSIA: Proposes First and Final Dividend
PROTON: PM Confirms Mahathir's Advisory Role
RNC Corporation: SC Extends Time for Scheme Implementation
TANJONG PUBLIC: Announces Registrar's Relocation
WING TIEK: Registrar Moves To New Address


P H I L I P P I N E S

BAYAN TELECOMMUNICATIONS: Sees Sustainable Growth in 2004  
LEPANTO CONSOLIDATED: Unveils Annual Stockholder's Meeting
MANILA ELECTRIC: Sees Flaws in Shares Issuance Option  
VICTORIAS MILLING: Assigns New Seat to C.L. Manabat and Co.
VITARICH CORPORATION: Creditors OK Three-year Debt Reprieve


S I N G A P O R E

CYBER VILLAGE: Appoints Independent Financial Adviser
HONG LEONG: Foresees Increased Sales for Xinfei Unit
KOH BROTHERS: Subsidiary Snags Contracts Worth S$50M
MEDIASTREAM: Discloses 13 May EGM Agenda
PDC CORPORATION: Appoints New CEO

WEE POH: Trading Halt Lifted
WEE POH: High Court Approves Wee Poh Construction Scheme
WEE POH: Announces Change of Company Secretary

     -  -  -  -  -  -  -  -

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


AMP LIMITED: Income Securities Buy Back Offer Strongly Supported
----------------------------------------------------------------
In a company press release AMP Limited said, the buy back of
Income Securities has closed with more than 31,000 holders,
representing 79 per cent of the securities, electing to sell
back their securities.

The offer closed Monday with stronger-than-expected acceptances
received from both retail and institutional holders.

AMP Chief Executive Officer Andrew Mohl said that as a result of
the buy back, the company would pay down A$975 million of debt.
This will reduce AMP's total debt to A$2,200 million, which is
almost half the debt of $4,300 million at the time of the
demerger in December last year. AMP repaid $1,150 million in
debt in January 2004 with the redemption of its Reset Preferred
Securities.

"We are delighted with the extremely strong response to this buy
back offer, which was well ahead of our expectations," Mr. Mohl
said.

"For Income Securities holders who accepted the offer, they have
received A$98 plus accrued interest per security. Up until the
buy back announcement, the securities had never traded as high
as A$98. The price of $98 is also $4 higher than the trading
price immediately prior to the buyback announcement.

"For AMP shareholders, this is another major step in our debt
reduction strategy. We will continue to pay down debt to achieve
our target of an overall debt level of around $1,500 million and
to restore AMP Limited's single A credit rating. This is an
important part of our post-demerger plans to rebuild and
revitalize AMP as a strong and profitable company."

Income Securities holders who accepted the buy back offer should
receive payment within the next few days. For securities holders
who did not accept the buy back offer, the Income Securities
will continue to trade on the Australian Stock Exchange and
interest will continue to be paid quarterly.


Contact:  AMP Limited
          33 Alfred St.
          Sydney, 2000, Australia
          Telephone: +61-2-9257-5000
          Fax: +61-2-9257-7886
          Website: http://www.ampgroup.com


IVANHOE MINES: Appoints Investment Banks to Review Alternatives
---------------------------------------------------------------
Robert Friedland, Chairman of Ivanhoe Mines, announced on Monday
that CIBC World Markets and Citigroup Global Markets have been
retained by Ivanhoe to evaluate strategic alternatives for the
company's Oyu Tolgoi (Turquoise Hill) copper/gold project in
Mongolia.

In a company press release, Mr. Friedland said that several
leading international mining companies with respect to a
possible transaction relating to the Oyu Tolgoi Project have
approached Ivanhoe.  The investment banks will help to evaluate
the various options available to the company.

An updated independent resource estimate of the Oyu Tolgoi
project currently is being prepared by AMEC of Canada and
issuance is likely in the next few weeks.  The new resource
estimate will be incorporated into a Revised Independent Scoping
Study expected in June.

The new Scoping Study, which will be prepared in accordance with
National Instruments 43-101 Standards of Disclosure for Mineral
Projects will fully incorporate the recommendations of Ivanhoe's
President John Macken, who joined Ivanhoe in January 2004 after
a 19-year career with Freeport McMoran Copper and Gold in a
number of senior positions, including Executive Vice-President
and General Manager at Freeport's Grasberg mining in complex in
Indonesia.

Ivanhoe Mines is the 100 percent owner of the Oyu Tolgoi
project.  Ivanhoe also holds or controls exploration rights
covering approximately 111,000 square kilometers in central and
southern Mongolia.  Ivanhoe produces LME Grade A copper from its
Monywa joint venture in Myanmar and iron ore products from ABM
Mining's Savage River mine in Australia.

Ivanhoe shares are listed on the NASDAQ National Market under
the symbol HUGO and on the Toronto Australian Stock Exchanges
under the symbol IVN.

Information contacts in North America:

Investors:  Bill Trenaman
            +1.604.688.5755

Media:  Bob Williamson
        +1.604.688.5755


MAYNE GROUP: Issues Update on Pharmacy Services Business
--------------------------------------------------------
Mayne Group Limited announced in a company press release on
Tuesday, that after detailed consideration of a number of offers
for the potential trade sale of its wholesale pharmacy
distribution business, it has decided to withdraw the business
from sale.

Mayne's Group Managing Director and Chief Executive Officer, Mr.
Stuart James said that following a thorough testing of the
market, it was determined that the value to Mayne from retaining
the business and continuing to operate it was considerably
greater than any offers received.

"It is simply not in our shareholders interests to sell this
business at the prices offered. The prospective purchasers did
not ascribe anywhere near sufficient value to pharmacy's leading
market position, experienced management team and history of
solid growth, which have all shown strong resilience during this
period of uncertainty," Mr. James said.

"Having regard to all of the factors influencing the business,
it is clear that retention of pharmacy's brands and business
will generate more value for Mayne's shareholders compared with
a divestment," he said.

"Now that the distraction of the sale process has been removed,
Mayne's energies will be entirely focused on providing
comprehensive service to our customers.   We continue to
strongly support the current community pharmacy model that
provides the best health outcome for the Australian public," he
said.

Mr. James also stated that a number of other significant
international pharmaceutical companies have pharmacy
distribution and services businesses as part of their overall
portfolios.   Teva, Andrx, Intercare, Ratiopharm and Cardinal
are some examples.  This reinforces Mayne's view that continuing
to own and operate a pharmacy services distribution business is
not inconsistent with a pharmaceutical strategy.

Mayne Group Limited is listed on the Australian Stock Exchange
and has businesses in pharmaceuticals (the manufacture of
injectable and oral pharmaceuticals for distribution to more
than 50 countries), diagnostic services (pathology, diagnostic
imaging, and medical centres), pharmacy services and health-
related consumer products.

For further information contact:

Media and Investor enquiries:
Larry Hamson
General Manager Corporate Relations
Phone: 03 9868 0380
Mobile: 0407 335 907  


NATIONAL AUSTRALIA: Receives TrUEPrS Amended Tax Assessments
------------------------------------------------------------
As foreshadowed on February 26 this year, the National has
received amended assessments from the Australian Taxation Office
(ATO) in relation to interest deductions claimed by the National
in respect of the TrUEPrSsm capital raising for the years 1999
to 2002.

The amended assessments are for primary tax of $85 million and
penalties and interest of $65 million (after tax), a total of
$150 million (after tax).

The National expects that the ATO will also issue an amended
assessment for 2003 after the National lodges its 2003 income
tax return.  The amount of primary tax, which relates to
interest deductions for year 2003, is $15 million.

Any amended assessment for 2003 may also include penalties and
interest.

The National has previously said it is confident of its position
and intends to pursue all necessary avenues of objection and
appeal.  As previously advised, no provision will be created for
the potential tax liabilities which will be disclosed as a
contingent liability in the accounts.

The TrUEPrS were redeemed in January this year.

TrUEPrSsm is a service mark of Merrill Lynch & Co., Inc.

For further information:

Brandon Phillips
Group Manager
Group Corporate Relations
Telephone:  03 8641 3857
Mobile:  0419 369 058

Or visit
www.nabgroup.com


NATIONAL AUSTRALIA: Sets Shareholders General Meeting on May 21
---------------------------------------------------------------
National Australia Bank has announced that it will hold General
Meetings of shareholders on Friday, May 21, 2004 at the
Melbourne Concert Hall.

The Notice of General Meetings is being lodged with the
Australian Stock Exchange.  There will be three separate
meetings, as required to consider three different sets of
resolutions submitted by Directors in three separate Notices
served on the Company.

The first meeting will consider a resolution submitted by seven
non-executive Directors on March 26, 2004 to remove one
Director, Mrs. Catherine Walter, as a Director of the National
Australia Bank.

The second and third meetings will consider two sets of
resolutions submitted by Mrs. Walter on March 28, 2004 to remove
all the non-executive Directors of

National Australia Bank over time, to censure the Board, to
request a search for a new Chairman and to express views as to
re-election of non-executive directors and retirement benefits.

A Committee of the Board of the National determined that all of
the resolutions submitted by Mrs. Walter should be put before
shareholders even though legal advice is that a number of
resolutions are beyond the power of a general meeting, or beyond
the capacity of the National to give effect to them or that they
would have no legal effect.

The seven non-executive Directors recommend that shareholders
pass the resolution to be considered at the first general
meeting and reject each of these resolutions to be considered at
the second and third general meetings. Mrs. Walter was invited
to make recommendations regarding the resolutions, but has not
done so as at the time of dispatch of the Notice of Meetings.  
The Chief Executive Officer, Mr. John Stewart, has not made a
recommendation in respect of any of the resolutions.

The National has also released to the market a statement by the
seven non-executive directors received by the Company and which
has been included with the Notice of General Meetings sent to
shareholders.  Mrs. Walter was invited to provide such a
statement to shareholders to accompany the Notice of General
Meetings, but had not done so as at the time of dispatch of the
Notice of General Meetings.

For further information:

Brandon Phillips
Group Manager
Group Corporate Relations
Telephone:  03 8641 3857
Mobile:  0419 369 058

Or visit
www.nabgroup.com


NOVUS PETROLEUM: Submits Copy of Notices Issued by Medco Energi
---------------------------------------------------------------
Novus Petroleum Ltd. submitted to the Australian Stock Exchange:

-a notice pursuant to section 650D of the Corporations Act 2001
(Corporations Act), relating to an extension of the offer period
under Medco Energi (Australia) Pty Ltd's (MEAPL)  takeover bid
for all of the ordinary shares in Novus Petroleum Ltd.;

-a notice pursuant to section 630(2) of the Corporations Act, in
accordance with section 630(5) of the Corporations Act.  The
notice confirms the new date for the giving of notice of the
status of the offer conditions pursuant to section 630 (1) of
the Corporations Act; and

-a notice which sets out the information referred to in ASX
Listing Rule 3.2 regarding MEAPL's relevant interests in Novus
Petroleum Limited.

To view full copy of this press release, click
http://bankrupt.com/misc/NOVUSPETROLEUM042004.pdf


WMC RESOURCES: Nickel Production Expected to Decrease
-----------------------------------------------------
WMC Resources Ltd. reported on Tuesday the company's first
quarter production figures for 2004.  Mr. Andrew Michelmore,
WMC's chief executive officer said a strong performance from the
nickel business is the main factor that puts the company in a
good position in 2004 according to Egoli, the Australian
Stockbroking news.

The company reported that nickel operations performed "strongly"
during the quarter with nickel-in-matte production of 27,000
tonnes continuing at the high levels of the December quarter's
27,300 and well in excess of the last corresponding period's
22,000.

Scheduled maintenance at the Kwinana nickel refinery was
reported complete and the plant has returned to full production
rates.

Despite a strong performance of nickel-in-matte and nickel-
inconcentrate, it's production is scheduled to decline in the
coming quarters due to the completion of mining at the Leinster
Harmony open pit and the processing of lower grade stockpiles
and ore from the new cut-back at Mount Keith.

The company also advised that major construction and
commissioning activities at Olympic Dam are complete, and the
operation is ramping up to full capacity. Production levels are
forecast to continue to improve throughout the year as the
reliability review and recovery improvement programs are
implemented.

The Queensland Fertilizer Operations were reported to have
"performed well" during the quarter despite interruptions to
acid supplies following heavy rains throughout North Queensland.
During the remainder of 2004 production is expected to be
maintained at capacity.

Total fertilize production was at 226,700 tonnes for the
quarter. The result was down from 234,000 in the previous
corresponding period.

Mr. Michelmore went on to say that smelter production was
returned to capacity by the end of the quarter and anode
inventory in the electro-refinery was fully stocked at the end
of March.

"Copper production is expected to improve further in the coming
quarters as a result of the contribution from the newly
commissioned copper solvent extraction plant and the realization
of benefits from business improvement programs being implemented
across the operation," he said.

Copper cathode production is approaching capacity rates with
first quarter cathode production improving 44% on the prior
quarter.

Uranium production increased 34% from the prior quarter
reflecting increased mill throughput, higher grade and record
metallurgical recovery.

Mr. Michelmore further explained that business improvement
programs relating to reliability and recovery improvements are
being implemented across the operation.

"Our technical program to improve flotation, leach and
hydrometallurgical recovery is yielding significant benefits
with equivalent uranium recovery increased by 6% since October
2003 and flotation copper recovery up 1.5% since mid 2003."

"Our first quarter has positioned us well to deliver planned
2004 production into what is proving to be a continuing strong
market for our major commodities," he concluded.


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


ARTKNIT KNITWEAR: Date For Hearing of Petition Set
--------------------------------------------------
Notice is hereby given that a Petition for the Winding Up of
Artknit Knitwear Company Limited by the High Court of Hong Kong
was on 11 March 2004 presented to the said Court by Bank of
China (Hong Kong) limited whose registered office is situated at
14th Floor, Bank of China Tower, No.1 Garden Road, Central, Hong
Kong. And that the said Petition is directed to be heard before
the Court at 9:30 am on the 12 May 2004. Any creditor or
contributory of the said company desirous to support or oppose
the making of an order on the said petition may appear at the
time of hearing by himself or his counsel for that purpose; and
a copy of the petition will be furnished to any creditor or
contributory of the said company requiring the same by the
undersigned on payment of the regulated charge for the same.

Ford, Kwan and Company
Solicitors for the Petitioner
Rooms 1202-1206, 12th Floor, Wheelock House
20 Pedder Street, Central
Hong Kong

Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention to do so. The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the above named not
later than six o'clock in the afternoon on the 11 May 2004.


CHEER CITY: Court Sets Date for Hearing
---------------------------------------
Notice is hereby given that a Petition for the Winding Up of
Cheer City Company Limited by the High Court of Hong Kong was on
5 March 2004 presented to the said Court by Bank of China (Hong
Kong) limited whose registered office is situated at 14th Floor,
Bank of China Tower, No.1 Garden Road, Central, Hong Kong. And
that the said Petition is directed to be heard before the Court
at 9:30 am on 5 May 2004. Any creditor or contributory of the
said company desirous to support or oppose the making of an
order on the said petition may appear at the time of hearing by
himself or his counsel for that purpose; and a copy of the
petition will be furnished to any creditor or contributory of
the said company requiring the same by the undersigned on
payment of the regulated charge for the same.

Tsang, Chan and Wong
Solicitors for the Petitioner
16th Floor, Wing On House
71 Des Voeux Road Central
Hong Kong

Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention to do so. The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the above named not
later than six o'clock in the afternoon on the 4 May 2004.


GAINS COMPANY: Court Schedules Hearing
--------------------------------------
Notice is hereby given that a Petition for the Winding Up of
Gains Company Limited by the High Court of Hong Kong was on 30
March 2004 presented to the said Court by Kong Tak Wing Robert
of 29th Floor, Block 47, Baguio Villa, 555 Victoria Court, Hong
Kong. And that the said Petition is directed to be heard before
the Court at 9:30 am on 9 June 2004. Any creditor or
contributory of the said company desirous to support or oppose
the making of an order on the said petition may appear at the
time of hearing by himself or his counsel for that purpose; and
a copy of the petition will be furnished to any creditor or
contributory of the said company requiring the same by the
undersigned on payment of the regulated charge for the same.

Or, Ng and Chan
Solicitors for the Petitioner
15th Floor, The Bank of East Asia Building
10 des Voeux Road Central
Hong Kong

Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention to do so. The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the above named not
later than six o'clock in the afternoon on 8 June 2004.


I MOTORS: Date For Hearing Set For 19 May
-----------------------------------------
Notice is hereby given that a Petition for the Winding Up of I
Motors Limited by the High Court of Hong Kong was on 19 March
2004 presented to the said Court by GE Capital (Hong Kong)
Limited, a restricted license bank incorporated in Hong Kong and
whose registered office is situated at 8th Floor, Devon House,
Taikoo Place, 979 King's Road, Quarry Bay, Hong Kong. And that
the said Petition is directed to be heard before the Court at
9:30 am on the 19 May 2004. Any creditor or contributory of the
said company desirous to support or oppose the making of an
order on the said petition may appear at the time of hearing by
himself or his counsel for that purpose; and a copy of the
petition will be furnished to any creditor or contributory of
the said company requiring the same by the undersigned on
payment of the regulated charge for the same.

DEACONS
Solicitors for the Petitioner
5th Floor, Alexandra House
Central
Hong Kong

Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention to do so. The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the above named not
later than six o'clock in the afternoon on the 18 May 2004.


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


KANEBO: To Conduct Internal Investigation
-----------------------------------------
A Kanebo Limited official said on Monday, 19 April that the
company is planning to conduct an in-house investigation to look
into improper practices and accounting irregularities in past
transactions, Kyodo News reports.

"As we have a new management team now, we will conduct an in-
house investigation to find out if there was something we are
not aware of in the past practices," Kanebo spokesman Tetsuya
Arai said.

There has been talk the company might have been involved in
shady business deals or conducted window dressing in the past,
and the in-house investigation is apparently aimed at looking
into such issues.

Arai declined to comment on specifics, but a business daily, the
Nihon Keizai Shimbun, reported that Kanebo plans to set up an
investigation panel that includes outside legal experts.

The newspaper also said that former top Kanebo executives could
be held responsible depending on the results of probe.


MITSUBISHI MOTORS: Cutting 4,500 Jobs
-------------------------------------
Mitsubishi Motors Corporation (MMC) will be eliminating 4,500
jobs, AFP reports. The 10 percent reduction in workforce is part
of the company's restructuring plan.

Most of the job cuts, totaling slightly more than 3,000 will be
in Europe, the United States and Australia. Another 1,000 lay-
offs will happen within domestic operations. This move will
bring down the total number of MMC employees to 40,000.


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


DAINONG CORPORATION: Has Two Prospective Buyers
-----------------------------------------------
Asia Pulse reports on Monday, 19 April that two domestic
businesses have submitted letters of intent to buy the ailing
textile maker Dainong Corporation.

Dainong has been on the auction block since 2001. The company
has been in court receivership since 1998.

Although they have refused to name the prospective buyers,
company creditors say they will be selecting a preferred bidder
this week.


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


ANSON PERDANA: MSEB Approves Extension
--------------------------------------
Anson Perdana Berhad wishes to announce that Malaysia Securities
Exchange Berhad has approved an extension of time of two (2)
months from 28 March 2004 to 28 May 2004 to enable the Company
to make the Requisite Announcement on its regularization plan.

This Kuala Lumpur Stock Exchange announcement is dated 19 April
2004.


CHIN FOH: Registrar Changes Address
-----------------------------------
Chin Foh Berhad wishes to announce the new address of the
company registrar. Details are as follow:

Change description:   Registrar

Old address:    11th Floor-Tower Block
Kompleks Antarabangsa
Jalan Sultan Ismail
50250 Kuala Lumpur

New address:    Level 26, Menara Multi Purpose
Capital Square
No. 8 Jalan Munshi Abdullah
50100 Kuala Lumpur

Name of Registrar:  Signet Share Registration Services
Sdn Bd

Telephone no:    03-2721 2222

Facsimile no:    03-2721 2530 / 2721 2531

E-mail address:    ssrs@signet.com.my

Effective date:    19 April 2004  

Remark:  

This Kuala Lumpur Stock Exchange announcement is dated 19 April
2004.


FORESWOOD GROUP: Applies For Restructuring
------------------------------------------
Further to the announcement made on 19 March 2004, Foreswood
Group Berhad is pleased to announce that an application for the
Proposed Corporate and Debt Restructuring Scheme has been made
to the Securities Commission.

This Kuala Lumpur Stock exchange announcement is dated 19 April
2004.


GULA PERAK: Gets Ratings Downgrade From RAM
-------------------------------------------
Malaysia's RAM has downgraded Gula Perak Berhad's long-term
enhanced rating from B2(s) to C2(s) with a negative outlook.

According to Reuters, RAM at the same time lifted the Rating
Watch on the company's RM288.82 million Redeemable Convertible
Secured Noted (RCSN). The Rating Watch had been originally
hoisted on the Group's finances which is being stretched with a
high debt level relative to a weak operating cash flow.

For the financial year ending 31 March 2003 and the first nine
months of FY 2004, Gula had suffered pre-tax losses of RM96.53
million and RM62.55 million respectively. For the first 9 months
of FY 2004, Gula Perak registered a RM47.13 million deficit in
its net operating cash flow, against substantial debts of
RM404.82 million as at end-December 2003.

Given the Group's extremely weak cash flow, it will be hard
pressed to meet its interest and principal payment obligations.
Under the Trust Deed for the RCSN, failure to pay interest on
its other loans will trigger a cross-default.

At the moment, Gula management is planning to sell properties as
well as convert warrants in order to meet all future interest
and principal obligations. The Company is also considering
seeking approval to defer or restructure some of its financial
obligations.


MANGIUM INDUSTRIES: Announces a Change of Address by Registrar
--------------------------------------------------------------
Mangium Industries Berhad announced at the Kuala Lumpur Stock
Exchange on 19 April 2004 the change of address by the company
Registra, Signet Share Registration Services Sdn Bhd.

The company wishes to inform that the old address 11th Floor,
Tower Block, Kompleks Antarabangsa, Jalan Sultan Ismail, 50250
Kuala Lumpur has been changed to Level 26, Menara Multi Purpose,
Capital Square, No.8 Jalan Munshi Abdullah, 50100 Kuala Lumpur.

The registrar may be contacted through telephone number 03-
27212222 and facsimile number 03-27212530 / 03-27212531.

This change takes effect on 19 April 2004.


MEDAS CORPORATION: Company Registrar Changes Address
----------------------------------------------------
Medas Corporation Berhad announced at the Kuala Lumpur Stock
Exchange on 19 April 2004 the change of address by the company
Registrar, Malaysian Share Registration Services Sdn Bhd.

The company wishes to inform that the old address of 7th Floor,
Exchange Square, Bukit Kewangan, 50200 Kuala Lumpur has been
changed to Level 26, Menara Multi Purpose, Capital Square, No.8
Jalan Munshi Abdullah, 50100 Kuala Lumpur.

The registrar may be contacted through telephone number
03-27212222 and facsimile number 03-27212530 / 03-27212531.

This change takes effect on 19 April 2004.


METAL RECLAMATION: Returns to Profitability
-------------------------------------------
Metal Reclamation Berhad posted a net profit of RM4.38 million
for the nine-month period ending 31 March, 2004, The Edge Daily
reports. The company is finally turning a profit after last
year's net loss of RM16.72 million.

Revenues for the period went up by 27.64 percent, bringing them
to RM122.42 million from the previous RM95.91 million. Earnings
that were formerly losing at 35 sen rose to 9.18 sen.

For the third quarter, the company had a net profit of RM2.88
million with revenues of RM48.53 million. During the same period
last year, Metal Reclamation claimed a net loss of RM4.50
million.


MYCOM BERHAD: Changes Share Registrar's Address
-----------------------------------------------
We wish to inform that Mycom Berhad's Share Registrars, namely
Signet Share Registration Services Sdn Bhd has been relocated
from 11th Floor, Tower Block, Komplexs Antarabangsa, Jalan
Sultan Ismail, 50250 Kuala Lumpur to the following with effect
from 19 April 2004:

Level 26, Menara Multi Purpose
Capital Square, No. 8 Jalan Munshi Abdullah
50100 Kuala Lumpur
Tel: 03-27212222
Fax: 03-27212530/03-27212531

This Kuala Lumpur Stock Exchange announcement is dated 19 April
2004.


OLYMPIA INDUSTRIES: Share Registrar Changes Address
---------------------------------------------------
Olympia Industries Berhad announced with the Kuala Lumpur Stock
Exchange on 19 April 2004 the change of address by the company's
share Registrar, Signet Share Registration Services Sdn Bhd.

The company wishes to inform that Signet has moved from the 11th
Floor, Tower Block, Kompleks Antarabangsa, Jalan Sultan Ismail,
50250 Kuala Lumpur to Level 26, Menara Multi Purpose, Capital
Square, No.8 Jalan Munshi Abdullah, 50100 Kuala Lumpur.

The registrar may be contacted through telephone number
03-27212222 and facsimile number 03-27212530 / 03-27212531.

This change takes effect on 19 April 2004.


PARK MAY: Seeks Approval for Shareholder's Mandate
--------------------------------------------------
On behalf of Park May Berhad, AmMerchant Bank Berhad wishes to
announce that the Company is proposing to seek the approval of
its shareholders for the Proposed Shareholders' Mandate pursuant
to Paragraph 10.09 of the Malaysia Securities Exchange Berhad
(MSEB) Listing Requirements at an extraordinary meeting (EGM) to
be convened.

Pursuant to Paragraph 10.09 of the Listing Requirements, a
listed company may seek a shareholders' mandate in respect of
recurrent related party transactions of a revenue or trading
nature which are necessary for its day-to-day operations subject
to the following:

(i) the transactions are in the ordinary course of business and
are on terms not more favorable to the related party than those
generally available to the public;

(ii) the shareholders' mandate is subject to annual renewal and
disclosure is made in the annual report of the aggregate value
of transactions conducted pursuant to the shareholders' mandate
during the financial year; and

(iii) in a meeting to obtain shareholders' mandate, the
interested director as defined under Paragraph 10.02 of the
Listing Requirements (Director), interested major shareholder as
defined under Paragraph 10.02 of the Listing Requirements (Major
Shareholder) or interested person connected with a Director or
Major Shareholder, and where it involves the interest of an
interested person connected with a Director or Major
Shareholder, such Director or Major Shareholder must not vote on
the resolution approving the transactions. An interested
Director or interested Major Shareholder must also ensure that
persons connected with him abstain from voting on the resolution
approving the transactions.

1. Principal Activities  

The principal activities of Park May and its subsidiaries (Park
May Group) are management and investment holding, the operation
of public bus transport services and property holding.

2. Details of the Proposed Shareholder's Mandate

It is anticipated that the Park May Group will, in the ordinary
course of business, enter into the recurrent related party
transactions of a revenue or trading nature which are necessary
for its day-to-day operations (Recurrent Transactions), as set
out in Table 1 of the Appendix of this Announcement, with the
following related parties. Table 1 may be viewed in full detail
at the following link:

http://bankrupt.com/misc/ParkMayTransactions21April2004.doc

(i) MHSB Trading Sdn Bhd (MHSB Trading)

MHSB Trading is principally involved in the trading of spare
parts and accessories of motor vehicles and consumer goods.
MHSB Trading is a wholly owned subsidiary of Nadicorp Holdings
Sdn Bhd (NHSB), which in turn is the holding company of Kumpulan
Kenderaan Malaysia Berhad (KKMB), which in turn is a Major
Shareholder of Park May.

(ii) Usmeta Manufacturing Sdn Bhd (Usmeta)

Usmeta is principally involved in the trading of new tires and
tubes, and the retreading of used tires.

Usmeta is a wholly owned subsidiary of NHSB, which in turn is
the holding company of KKMB, which in turn is a Major
Shareholder of Park May.

(iii) Ken Air (Transnasional) Pte Ltd (Ken Air)

Ken Air is principally involved in the provision of tour and
travel agent services.

Ken Air is a 35.3 percent associated company of KKMB, which in
turn is a Major Shareholder of Park May.

(iv) Perkhidmatan Teguh Sdn Bhd

Perkhidmatan Teguh is principally involved in the provision of
security guard services.

Perkhidmatan Teguh is wholly owned subsidiary of NHSB, which in
turn is the holding company of KKMB, which in turn is a Major
Shareholder of Park May.

(v) Nadi Insurance Sdn Bhd

Nadi Insurance is principally involved in the provision of
insurance services for NHSB and its subsidiaries.
Nadi Insurance is a wholly owned subsidiary of KKMB, which in
turn is a Major Shareholder of Park May.

(vi) Kenderaan Klang Banting Berhad (Klang Banting)

Klang Banting is principally involved in the provision of public
bus transportation services in Klang, Selangor Darul Ehsan.

Klang Banting is a wholly owned subsidiary of KKMB, which in
turn is a Major Shareholder of Park May.

(vii) Kenderaan Langkasuka Sdn Bhd (Langkasuka)

Langkasuka is principally involved in the public bus service
operations in the state of Kedah Darul Aman.

Langkasuka is a wholly owned subsidiary of KKMB, which in turn
is a Major Shareholder of Park May.

(viii) Kenderaan Mekar Murni Sdn Bhd (Mekar Murni)

Mekar Murni is principally involved in the provision of public
bus transportation.

Mekar Murni is a wholly owned subsidiary of KKMB, which in turn
is a Major Shareholder of Park May.

Due to the frequent nature of the Recurrent Transactions, the
Company is seeking the Proposed Shareholders' Mandate which
would allow the Park May Group to enter into the categories of
the abovementioned Recurrent Transactions with the related
parties, provided such transactions are entered at arm's length
and on normal commercial terms which are on terms not more
favorable to the related parties than those generally available
to the public and will not be to the detriment of the minority
shareholders.

Pursuant to Paragraph 4.1.4 of Practice Note No 12/2001 of the
Listing Requirements, the Proposed Shareholders' Mandate, if
approved by the shareholders of Park May at the EGM, will take
effect from the date of the passing of the resolution proposed
at the meeting and is subject to annual renewal. In this
respect, any authority conferred by the Proposed Shareholders'
Mandate will only continue to be in force until:

(a) the conclusion of the first Annual General Meeting (AGM) of
the Company following the EGM at which the Proposed
Shareholders' Mandate was passed, at which time the Proposed
Shareholders' Mandate will lapse, unless by a resolution passed
at the said AGM, the authority is renewed;

(b) the expiration of the period within which the next AGM after
the date it is required to be held pursuant to Section 143(1) of
the Companies Act, 1965 (Act) (but shall not extend to such
extension as may be allowed pursuant to Section 143 (2) of the
Act); or

(c) revoked or varied by resolution passed by the shareholders
of Park May in general meeting, whichever is the earlier.

3. Rationale for the Proposed Shareholders' Mandate

In view of the frequent nature of such Recurrent Transactions to
be entered into by the Park May Group with the Related Parties,
the Company is seeking the approval of the shareholders of Park
May for the Proposed Shareholders' Mandate. The Proposed
Shareholders' Mandate will enhance the ability of the Park May
Group in pursuing business opportunities and will eliminate the
need for the Company to announce and convene separate general
meetings on each occasion to seek the shareholders' prior
approval for the Park May Group to enter into such transactions.
This will substantially reduce the expenses associated
therewith, improve administrative efficiency and allow human
resources and time to be channeled towards attaining corporate
objectives.

In addition, the Recurrent Transactions will help to ensure
continuous supply and availability of materials / services to
the Group which are critical for smooth running of the bus
operations.

4. Effects of the Proposed Shareholders' Mandate

The Proposed Shareholders' Mandate will not have any effect on
the share capital, major shareholdings, net tangible assets,
earnings for the financial year ending 31 December 2004 and also
dividends of the Park May Group for the financial year ending 31
December 2004.

5. Approvals Required

The Proposed Shareholders' Mandate is subject to the approval of
the shareholders of Park May at an EGM to be convened.

6. Directors' and Major Shareholders' Interests

(i) Major Shareholders' Interests

MHSB Trading and Usmeta are wholly owned subsidiaries of NHSB,
which in turn is the holding company of KKMB. Perkhidmatan
Teguh, Nadi Insurance, Klang Banting, Langkasuka and Mekar Murni
are wholly owned subsidiaries of KKMB. Ken Air is a 35.3 percent
associated company of KKMB. In turn, KKMB is a Major Shareholder
of Park May by virtue of its 18.40% direct equity interest in
Park May. By virtue of this, KKMB is deemed interested in the
Proposed Shareholders' Mandate.

(ii) Directors' Interests

Dato' Mohd Nadzmi bin Mohd Salleh, a Director of Park May and
Chairman of the Executive Committee of Park May, is the
Executive Chairman and a deemed Major Shareholder of KKMB by
virtue of his interest in Trisilco Equity Sdn Bhd pursuant to
Section 6A of the Act which in turn has an interest in Nadi
Corporation Sdn Bhd pursuant to Section 6A of the Act which in
turn is the holding company of NHSB which in turn is the holding
company of KKMB.
Tengku Mohd Hasmadi bin Tengku Hashim, a Director and a member
of the Executive Committee of Park May, is a General Manager
(Corporate Services) in NHSB.

Accordingly, the aforesaid directors are deemed interested in
the Proposed Shareholders' Mandate (Interested Directors).

Save as disclosed above, none of the Directors and Major
Shareholders of the Park May Group as well as persons connected
with them have any interest, direct and/or indirect, in the
Proposed Shareholders' Mandate.

7. Director's Opinion

Having considered the rationale for the Proposed Shareholders'
Mandate, the Board (save for the Interested Directors) is of the
opinion that the Proposed Shareholders' Mandate is in the best
interest of the Company and its shareholders.

8. Adviser

AmMerchant Bank has been appointed as Adviser to the Company for
the Proposed Shareholders' Mandate.

This Kuala Lumpur Stock Exchange announcement is dated 19 April
2004.


POS MALAYSIA: Proposes First and Final Dividend
-----------------------------------------------
The Board of Directors of POS Malaysia and Services Holdings
Berhad wish to announce that the company has recommended a first
and final dividend of 5 percent less tax for the financial year
ending 31 December 2003.

The Register of Members will be closed from 22 July 2004 to 23
July 2004 (both dates inclusive) to determine the shareholders
entitlement to the dividend payment. The dividend if approved at
the forthcoming 72nd Annual General Meeting will be paid on 20
August 2004 to shareholders whose names appear in the Record of
Depositors on 21 July 2004.

This Kuala Lumpur Stock Exchange announcement is dated 19 April
2004.


PROTON: PM Confirms Mahathir's Advisory Role
--------------------------------------------
Malaysian Prime Minister Abdullah Ahmad Badawi has officially
confirmed that former Prime Minister Mahathir Mohamad has been
appointed adviser to national carmaker Perusahaan Otomobil
Nasional or Proton, according to Dow Jones Newswires.

Abdullah told reporters, "We have written a letter (of
appointment) on it... I think the kind of experience that he
(Mahathir) has is valuable and he can be tapped for ideas and
advice."

Abdullah however, stressed Mahathir's role at Proton will be
purely as an adviser and he will "not interfere in the
executive" duties of management.

"The board (of Proton) will have the final say," Abdullah said.

Proton was Mahathir's brainchild during his 22-year stint as
prime minister. He is also currently adviser to national oil and
gas firm Petroliam Nasional Bhd or Petronas.


RNC Corporation: SC Extends Time for Scheme Implementation
----------------------------------------------------------
OSK Securities Berhad would like to refer to the announcement
dated 16 April 2004 in relation to RNC Corporation Berhad's
(Special Administrators Appointed) application for a further
extension of time for the implementation of the Proposed
Corporate and Debt Restructuring Scheme.

On behalf of the Special Administrators of RNC, we are pleased
to announce that the Securities Commission vide its letter dated
15 April 2004, received on 19 April 2004, has approved a further
extension time to 16 October 2004 for the implementation of the
Proposed Scheme.

This Kuala Lumpur Stock Exchange announcement is dated 19 April
2004.


TANJONG PUBLIC: Announces Registrar's Relocation
------------------------------------------------
Tanjong Public Limited Company would like to announce that the
company's share registrar Signet Share Registration Services Sdn
Bhd has moved from its old address at:

11th Floor, Tower Block
   Kompleks Antarabangsa
   Jalan Sultan Ismail
   50250 Kuala Lumpur

to a new home at:

   Level 26, Menara Multi Purpose
   Capital Square
   No. 8 Jalan Munshi Abdullah
   50100 Kuala Lumpur

The registrar may be contacted at telephone number 603-27212222
and facsimile number 603-272 12530 / 272 12531

This change takes effect on 19 April 2004.

This Kuala Lumpur Stock Exchange announcement is dated 19 April
2004.


WING TIEK: Registrar Moves To New Address
-----------------------------------------
Wing Tiek Holdings Berhad would like to announce that the
company's share registrar Signet Share Registration Services Sdn
Bhd has moved from its old address at:

11th Floor, Tower Block
   Kompleks Antarabangsa
   Jalan Sultan Ismail
   50250 Kuala Lumpur

to a new home at:

   Level 26, Menara Multi Purpose
   Capital Square
   No. 8 Jalan Munshi Abdullah
   50100 Kuala Lumpur

The registrar may be contacted at telephone number 603-27212222
and facsimile number 603-272 12530 / 272 12531

This change takes effect on 19 April 2004.

This Kuala Lumpur Stock Exchange announcement is dated 19 April
2004.


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


BAYAN TELECOMMUNICATIONS: Sees Sustainable Growth in 2004  
---------------------------------------------------------
Bayan Telecommunications Inc. (BayanTel) expects a growth in
revenue by about 8 percent to about 5.4 billion pesos from
almost 5 billion in 2003 which comes from the continued growth
of the company's fixed line business, enterprise-oriented and
data services, AFX-ASIA reports citing BayanTel Chief Financial
Officer, Gary Oliver.

Given expectations of a much improved business and political
climate by the second half of 2004, Bayantel said it could
sustain revenue growth for the rest of the year.

The company is restructuring 477 million pesos worth of debts,
of which 200 million are owed to bond holders and 277 million to
banks. Five percent of its total loans are classified as clean.

BayanTel plans to complete its rehabilitation ahead of the April
2005 deadline set by the court.


LEPANTO CONSOLIDATED: Unveils Annual Stockholder's Meeting
----------------------------------------------------------
Lepanto Consolidated Mining Co. disclosed to the Philippine
Stock Exchange it's newly elected directors for the year 2004,
during the Annual Stockholders meeting:

(1) Felipe U. Yap

(2) Bryan U. Yap

(3) Eduardo R. Alvarez

(4) Charles L. Bradish

(5) Martin Judson Dy Buncio

(6) Jerry C. Angping

(7) Cresencio C. Yap

Independent Directors:

(1) John D. Fairfield

(2) Wilfrido C. Tecson


MANILA ELECTRIC: Sees Flaws in Shares Issuance Option  
-----------------------------------------------------
Manila Electric Co. (Meralco) sees disadvantages on the
refunding of big customers through shares distribution. Based on
preliminary findings in a study made by the electric utility,
the scheme is tedious and difficult to implement, However
Meralco has not scrapped the proposal yet, BusinessWorld Online
reports citing Rosario Torres, Meralco's refund management task
force project manager.

Ms. Torres said Meralco would present the findings of the study
to the Philippine Chamber of Commerce and Industry (PCCI) and
other business groups to get their inputs.

Initial study showed the move would require the approval of the
existing shareholders, which is a tedious and costly process,
Ms. Torres added.  "We need the approval of stockholders, and we
need a lot of logistics for this," she said. She said there is
also a concern the shares of existing stockholders will be
diluted.

Ms. Torres added that since the price of the shares will be
based on market rate, these would be subject to fluctuations.

"But since you're diluting, the increase in the shares' value
would likely take a long time. Perhaps the advantages we see
would end up disadvantageous," Ms. Torres said.

"What we plan to do is to present this to PCCI to show them the
advantages and disadvantages of the proposal. We are talking
with them for the scheduling," Ms. Torres added.

Ms. Torres said further that Meralco wants to present the
findings to PCCI and other business groups because they
suggested the option. "Out of courtesy, we want to present this
to them We want to give them the point of view of Meralco. We
answered their questions, we considered it," she said.

Asked if Meralco is scrapping the proposal for good, Ms. Torres
said that as of now, Meralco has not yet formally discarded the
option. "For now, since we haven't really discussed the study
with Finance, we're not closing the door yet. We're just saying,
these are the steps involved, these are the difficulties of the
option. But I don't think we're closing that door. Not yet," she
said.


VICTORIAS MILLING: Assigns New Seat to C.L. Manabat and Co.
-----------------------------------------------------------
Victorias Milling Co. Inc. (VMC) announced to the Philippine
Stock Exchange that the company no longer engages Joaquin
Cunanan and Co. as members of the Board of Election Inspectors
for VMC's Annual Stockholder's Meeting on April 30, 2004.  
Instead representatives from the auditing firm of C.L. Manabat
and C. shall occupy the two seats in the Board of Election
Inspectors previously assigned to Joaquin Cunanan and Co.


VITARICH CORPORATION: Creditors OK Three-year Debt Reprieve
------------------------------------------------------------
Majority of the creditors of Vitarich Corp. granted the company
a three-year reprieve on payment of its debt amounting to
PhP3.195 billion, BusinessWorld Online reported on Tuesday.

The agreement that was signed March 19 effectively allows the
firm to get a debt reprieve from January 1, 2003 to January 1,
2006, finance adviser Joey Macadaeg said.

Vitarich said the temporary debt relief would allow it to focus
on improving its products, particularly the feeds business.

Next year, Vitarich and creditor banks are set to negotiate
again on a permanent restructuring agreement, according to the
BusinessWorld.


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


CYBER VILLAGE: Appoints Independent Financial Adviser
-----------------------------------------------------
The Board of Directors of Cyber Village Holdings Limited would
like to refer to the Company's earlier announcement dated 23
March 2004 in relation to the mandatory unconditional cash offer
(the Offer) made by SBI E2-Capital Pte Ltd (SBI-E2), for and on
behalf of Treasure Valley International Limited (the Offeror),
for all the issued ordinary shares of par value S$0.05 each in
the capital of the Company (the Shares).

The Board wishes to inform shareholders of the Company that it
has appointed NRA Capital Pte. Ltd. as Independent Financial
Adviser to advise the independent directors of the Company in
connection with the Offer.

A circular containing, inter alia, the advice of NRA and the
recommendation of the independent directors of the Company will
be posted to Shareholders within 14 days from the date of
dispatch of the offer document, which was issued by SBI-E2 for
and on behalf of the Offeror on 12 April 2004.

In the meantime, Shareholders are advised to refrain from taking
any action in relation to their Shares, which may be prejudicial
to their interests.

The Directors of the Company (including those who may have
delegated detailed supervision of this Announcement) have taken
all reasonable care to ensure that the facts stated in this
Announcement are fair and accurate and that no material facts
have been omitted and they jointly and severally accept
responsibility accordingly.

Submitted by Tony Pua Kiam Wee, Director/Chief Executive Officer
on 16 April 2004 to the SGX.


HONG LEONG: Foresees Increased Sales for Xinfei Unit
----------------------------------------------------
Hong Leong Asia Limited expects sales for its home appliances
unit in China, Henan Xinfei to increase as China implements
policy initiatives to increase income in rural areas this year.

Dow Jones reports the Chinese government has doubled crop
subsidies this year as well as abolished 15 rural charges to
lower farmers' burdens. The latter is expected to raise farmer
incomes by an estimated 10-15 percent.

China is also implementing a plan to gradually cut farmers'
income tax from 7 percent to zero over the next five years.

According to Hong Leong, Henan Xinfei caters mostly to China's
huge rural population and expects to make about 2.1 million
refrigerators, freezers and air conditioners for the Chinese
market this year, or 17 percent more than in 2003.

"Anything that affects farmers affects Xinfei. The first large
product that (Chinese) households buy is a fridge, and then a
TV. So anything that increases the take-home pay of farmers will
help Xinfei," said Hong Leong Asia Chief Executive Wrix Gasteen
in a briefing.


KOH BROTHERS: Subsidiary Snags Contracts Worth S$50M
----------------------------------------------------
Koh Brothers Group Limited (Koh Brothers) announced on Friday,
16 April that its subsidiary, Koh Brothers Building & Civil
Engineering Contractor (Pte.) Ltd (KBCE) secured two contracts
wins from Land Transport Authority (LTA) and Urban Redevelopment
Board (URA) worth a total of S$50 million.

The first contract from LTA, which commenced in November 2003,
is for the maintenance of road structures for 3 years. The total
value of this contract is S$8.3 million. The second contract
from URA is for the construction of common services tunnels in
Marina South. The total value for this contract is S$41.7
million and completion is expected in 2005.

The Group had earlier announced a S$45.3 million Starville
Project win last November, bringing the total contract wins to
S$95.3 million in the last half year.

These contract wins reflect the Group's successful marketing
efforts in Singapore, despite challenging market conditions.

Commenting on the contractual wins, Mr T C Koh, CEO of Koh
Brothers said, "We are pleased to have secured these contracts
from the public sector despite the strong competition. As
forecasted by BCA, construction demand for 2004 in Singapore is
estimated at S$10 billion to S$11 billion with most of the
contracts from the public sector. We therefore intend to focus
on the public sector and leverage on our competitive strengths
in public infrastructure to strengthen our niche and improve our
top and bottom lines."

About Koh Brothers Group Limited

Mainboard-listed Koh Brothers, which began business as a
subcontractor in 1960, is today a diversified business group
with operating synergies arising from its five core areas of
expertise:

-construction
-building materials
-real estate
-leisure and hospitality
-oil and gas

Over the years, the Group has undertaken several projects in
civil and marine engineering, and in addition, has developed a
name for itself as a niche real estate developer with a
reputation for quality.

To date, the Group has 60 subsidiaries, 4 JV companies and 8
associated companies in Singapore, China, Indonesia, Thailand,
India, Malaysia, Vietnam and U.S.A.

For more information, please contact:

Ms Tham Moon Yee / Ms Geraldine Goh
Stratagem Consultants Pte Ltd
Telephone: 65 6227 0502
Fax: 65 6227 5663
Email: tmy@stratagemconsultants.com /
geraldine@stratagemconsultants.com


MEDIASTREAM: Discloses 13 May EGM Agenda
----------------------------------------
Mediastream Limited gives notice that an Extraordinary General
Meeting of the Company will be held at 39 Tampines Street 92,
Level 6, MediaStream Building, Singapore 528883 on 13 May 2004
at 12 noon, for the purpose of considering and, if thought fit,
passing the following resolutions with or without any
modifications:

Special Resolution 1: Capital Reduction Exercise

That, pursuant to Article 10 of the Articles of Association of
the Company and subject to the approval of the High Court of the
Republic of Singapore, the authorized share capital of the
Company be reduced from S$50,000,000 divided into 1,000,000,000
ordinary shares of S$0.05 each to S$10,000,000 divided into
1,000,000,000 ordinary shares of S$0.01 each and the issued and
paid-up share capital of S$36,080,542.50 comprising of
721,610,850 ordinary shares of S$0.05 each be reduced to
S$7,216,108.50 comprising of 721,610,850 ordinary shares of
S$0.01 each, and that such reduction (the Capital Reduction
Exercise) be effected by:

(a) canceling the paid-up share capital which has been lost or
is unrepresented by available assets to the extent of S$0.04 on
each of the 721,610,850 Company's ordinary shares (Shares) which
have been issued and are fully paid-up or credited as fully
paid-up, representing S$28,864,434; and

(b) reducing the par value of all Shares, both issued and un-
issued, from S$0.05 to S$0.01 each.

Ordinary Resolution: Increase in Authorized Share Capital

That, subject to and contingent upon Special Resolution 1 taking
effect, the authorized share capital of the Company be increased
to its former capital of S$50,000,000 by the creation of an
additional 4,000,000,000 ordinary shares of S$0.01 each, such
that the authorized share capital will be S$50,000,000
comprising 5,000,000,000 ordinary shares of S$0.01 each.

Special Resolution 2: Alteration of the Memorandum and Articles
of Association of the Company

That, contingent on the passing of Special Resolution 1 and the
Ordinary Resolution above, Clause 5 and Article 3 of the
Memorandum and Articles of Association of the Company
respectively be amended by deleting the words "$50,000,000.00
divided into 1,000,000,000 ordinary shares of $0.05 each" and
substituting the words "$50,000,000.00" divided into
5,000,000,000 ordinary shares of $0.01 each".

By Order of the Board

Claire Tan Mui Keow
Company Secretary

Singapore
16 April 2004

Notes:

1. A Shareholder entitled to attend and vote at a meeting of the
Company is entitled to appoint one or more proxies to attend and
vote in his stead. A proxy need not be a shareholder of the
Company (Shareholder).

2. Where a Shareholder appoints two proxies, the Company may
treat the appointment as invalid unless the Shareholder
specifies the proportion of his shareholding (expressed as a
percentage of the whole) to be represented by each proxy.

3. The instrument appointing a proxy must be deposited at the
Company's registered office at 39 Tampines Street 92,
MediaStream Building, Singapore 528883 not less than 48 hours
before the time appointed for holding of the Extraordinary
General Meeting.

4. The instrument appointing a proxy or proxies must be under
the hand of the appointor or his attorney duly authorized in
writing. Where the instrument appointing a proxy or proxies is
executed by a corporation, it must be executed either under its
seal of under the hand of an officer or attorney duly
authorized.

Submitted by Thia Peng Heok, Executive Chairman on 16 April 2004
to the SGX.


PDC CORPORATION: Appoints New CEO
---------------------------------
The Board of Directors of PDC Corp Limited wishes to announce
that Mr Chan Shun Yuen has been appointed as Chief Executive
Officer of the Company effective 10 April 2004.

Submitted by Chan Yeuk Wai, Executive Chairman on 16 April 2004
to the SGX.


WEE POH: Trading Halt Lifted
----------------------------
Wee Poh Holdings Limited announces that trading of company
shares resumed at 9 am on 19 April 2004.

This is a SGX announcement.


WEE POH: High Court Approves Wee Poh Construction Scheme
--------------------------------------------------------
Further to the announcements made by the Company on 9 February
2004, 25 February 2004 and 13 March 2004, the Board of Directors
of Wee Poh Holdings Limited (the Company) are pleased to
announce that at the hearing before the High Court of the
Republic of Singapore (the Court) on 16 April 2004, the Court
has made an order on the Scheme of Arrangement (the Scheme)
proposed by Wee Poh Construction Co. (Pte.) Ltd. (WPC) on, inter
alia, the following terms:

1. The Scheme considered and approved by the majority in number
representing three-fourths in value of WPC's unsecured creditors
as defined in the Scheme (the Unsecured Creditors) who were
present in person and by proxy and who voted at the creditors'
meeting convened on 9 February 2004 held at Function Hall, 5th
Storey Podium, The URA Centre, 45 Maxwell Road, Singapore
069118, pursuant to the Order of Court dated 7 January 2004, is
approved/sanctioned by the Court pursuant to section 210 of the
Companies Act (Cap 50) (the Act);

2. The Scheme so approved/sanctioned by the order shall be
binding upon all the Unsecured Creditors;

3. Pursuant to Section 210(7) of the Act, WPC be exempted from
compliance with the requirements of Section 210(6) of the Act;

Under the revised terms and conditions of the standstill
agreements dated 18 December 2003 with the banks, Wee Poh Group
(the Group) is required to maintain net tangible assets (NTA) 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.

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 Scheme, the banks will waive the breach or allow an
extension of time to the Company to comply with the standstill
agreements and as a consequence abide by the standstill
agreements until 31 August 2004. Further announcements on the
outcome of such discussions with the banks will be made in due
course.

Note: Capitalised terms not otherwise defined in this
Announcement shall have the meanings ascribed to them in the
announcement dated 9 February 2004 relating to the results of
the creditors' meeting held to vote on the Scheme.

Submitted by Ng Choon Kiat, Alternate to Chan Wang Kin, Managing
Director on 16 April 2004 to the SGX.


WEE POH: Announces Change of Company Secretary
----------------------------------------------
The Board of Directors of Wee Poh Holdings Limited wishes to
announce that Mr Chew Ban Chuan Victor Mark and Ms Nancy Quek
have been appointed as Company Secretaries of the Company with
effect from 16 April 2004 in place of Mr Tan Hui Meng who has
resigned.

Submitted by Chew Ban Chuan Victor Mark, Director/Company
Secretary on 16 April 2004 to the SGX.


                            *********


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

Troubled Company Reporter -- Asia Pacific is a daily newsletter
co-published by Bankruptcy Creditors' Service, Inc., Trenton, NJ
USA, and Beard Group, Inc., Frederick, Maryland USA. Lyndsey
Resnick, Ma. Cristina Pernites-Lao, Faith Marie Bacatan,
Editors.

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

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without
prior written permission of the publishers.  Information
contained herein is obtained from sources believed to be
reliable, but is not guaranteed.

The TCR -- Asia Pacific subscription rate is $575 for 6 months
delivered via e-mail. Additional e-mail subscriptions for
members of the same firm for the term of the initial
subscription or balance thereof are $25 each.  For subscription
information, contact Christopher Beard at 240/629-3300.

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