TCRAP_Public/040428.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 28, 2004, Vol. 7, No. 83

                            Headlines


A U S T R A L I A

NATIONAL AUSTRALIA: Brokers Call for Sell Out
NATIONAL AUSTRALIA: Director Demands Access to Documents


C H I N A  &  H O N G  K O N G

DISI LIMITED: Schedules Winding up Hearing for June 9
DRAGON KING: Faces Winding up Hearing
FAR EAST: Unveils Appointment of Liquidators
FORTUNA INTERNATIONAL: Widens 2003 Net Loss to HK$36.6M
GREATER CHINA: Unveils Liquidity, Financial Resources

HAINAN TRAVEL: Schedules Winding up Hearing May 12
HENTIFF LIMITED: Court Sets Hearing Date
HUALING HOLDINGS: Narrows 2003 Net Loss to HK$76.97M
WELL HOPE: Creditors Meeting Set May 5


I N D O N E S I A

BANK TABUNGAN: Pefindo Assigns Bonds Ratings

* Prudential Life to Appeal Indonesian Court Decision


J A P A N

GENERAS CORPORATION: Files for Court Protection
ISHIKAWAJIMA-HARIMA: R&I Downgrades Rating to BBB+
MITSUBISHI MOTORS: Rolf Eckrodt Steps Down as President
MITSUBISHI MOTORS: Unveils March 2004 Production Sales Results
MITSUBISHI MOTORS: S&P Comments on DaimlerChrysler Decision

NIKKO CORDIAL: Swings to Profit in 2003
NIKKO CORDIAL: Unit Gets Administrative Action


K O R E A

HYNIX SEMICONDUCTOR: Faces Setback in China Plant Plan
JINRO INDUSTRIES: Taihan Electric Buys Firm for US$244M


M A L A Y S I A

ANSON PERDANA: Adjourns Winding up Petition June 18
ANTAH HOLDINGS: Issues Default Status Update
BOUSTEAD HOLDINGS: Lists New Ordinary Shares
KILANG PAPAN: Unveils Investigative Audit Results
OILCORP BERHAD: Posts Changes in Director's Shareholding

OCEAN CAPITAL: Announces Registrar's Change of Address
OSK HOLDINGS: Enters Alliance With Equitable Investment
OSK HOLDINGS: Announces Listing of New Shares
TECHNO ASIA: Slapped with Public Reprimand


P H I L I P P I N E S

ABS-CBN BROADCASTING: To Raise US$120M to Refinance Debts
BAYAN TELECOMMUNICATIONS: Court Orders Creditors' Equal Care
FIRST PHILIPPINE: Sets Annual Stockholders Meeting
NATIONAL STEEL: SEC Dragging RTC's Sale Approval
PHILIPPINE AIRLINES: Takes Extra Care After Strike Threats  

PHILIPPINE LONG: Issues Notice of Annual Stockholders Meeting
PHILIPPINE LONG: Bags Overall Best Managed Company Award


S I N G A P O R E

CYCAD PTE: Schedules Winding up Hearing
FASTHUB PTE: Issues Winding up Order Notice
HUA KOK: Posts Changes in Audit Committee
LIVONIA INVESTMENTS: Creditors Must Submit Claims by May 21
MURRANNE PTE: Issues Debt Claim Notice to Creditors

PERTAMA DEVELOPMENT: Issues Winding Up Order Notice

     -  -  -  -  -  -  -  -

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


NATIONAL AUSTRALIA: Brokers Call for Sell Out
---------------------------------------------
National Australia Bank's continuous boardroom battle has urged
brokers to recommend clients' sell their shares.  "An ongoing
downward earnings revision cycle continues to plague NAB. We
feel this is not over, we believe the potential for further bad
news remains." Citigroup Smith Barney said, quoted by The
Australian newspaper.

ABN Amro has downgraded net profit forecasts for 2004 by 9.1
percent, but it has assumed earnings will be worse than
expectations because of NAB's poor profit guidance, however it
expects NAB to include writedowns in its general provisions in
one hit rather than gradually.


NATIONAL AUSTRALIA: Director Demands Access to Documents
--------------------------------------------------------
National Australia Bank director Catherine Walter was unable to
get a copy of a draft report by PricewaterhouseCoopers (PwC) of
the bank's foreign exchange trading scandal, Dow Jones reports.

Ms. Walter claims she was prevented access to a copy of the
document she to which she previously claimed key changes were
made when a copy was circulated to some member of the bank's
board.

"A draft copy may throw some light on the extent and nature of
changes made to the final report. It would provide some
indication as to whether the final report was as independent as
shareholders were led to believe," Ms. Walter argued.

"I have sought from National a copy of the draft PwC report
which was considered by the Principal Board Risk Committee
members on February 23-24," Ms. Walter added.

"The National apparently did not keep a copy in its PBRC record
and PwC are not willing to make a copy available to their
client, the National. But not getting access to the report,
shareholders will be left to draw inferences about the fact it
has been withheld," she said.

Ms. Walter called on NAB's board to take all steps to make the
necessary documents relevant to the investigation available.


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


DISI LIMITED: Schedules Winding up Hearing for June 9
-----------------------------------------------------
Notice is hereby given that a petition for the winding up of
Disi Limited by the High Court of Hong Kong was on the 30 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. The said
petition will be heard before the Court at 9:30 a.m. on the 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. 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.

Messrs. Wat & Co.
Solicitors for the Petitioner,
12th Floor, Chuang's Tower
30&32 Connaught 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 so to do. 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 of the 8 June 2004.


DRAGON KING: Faces Winding up Hearing
-------------------------------------
Notice is hereby given that a petition for the winding up of
Dragon King Limited by the High Court of Hong Kong was on the 13
April 2004 presented to the said Court by GE Capital (Hong Kong)
Limited whose registered office is situated at 8th Floor, Devon
House, 979 King's Road, Quarry Bay, Hong Kong. The said petition
will be heard before the Court at 9:30 a.m. on the 23 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. 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.

Messrs. Li, Wong & Lam
Solicitors for the Petitioner,
Unit 2602, 26th Floor, Tower One
89 Queensway
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 so to do.  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 of the 22 June 2004.


FAR EAST: Unveils Appointment of Liquidators
--------------------------------------------
Far East Gateway Limited (In Compulsory Liquidation) has
appointed several liquidators, disclosing that:

The Company's Registered Office: 8/F., Pico Tower, 66 Gloucester
Road, Wanchai, Hong Kong

Joint and Several Liquidators': Mr. Ng Kwok Wai and Mr. David
Nip of Messrs Professional Management Consultants Limited

Liquidators' Address: Room 701, 7th Floor, Union Park Centre,
771 Nathan Road, Mongkok, Kowloon

Members of a Committee of Inspection:

(i)   China Netcom Corporation Limited
(ii)  Far East Gateway International Limited
(iii) Hady Hartanto
(iv)  Sri Tjintawati Hartanto
(v)   China Netcom (Hong Kong) Operations Limited

This Quamnet announcement is dated 14 April 2004.


FORTUNA INTERNATIONAL: Widens 2003 Net Loss to HK$36.6M
-------------------------------------------------------
Fortuna International Holdings Limited booked a net loss of
HK$36.693 million for 2003, versus a net loss of HK$27.953
million a year earlier, according to Infocast News on Tuesday.
The Loss per share was $0.009. No final dividend was declared.


GREATER CHINA: Unveils Liquidity, Financial Resources
-----------------------------------------------------
In September 2003, Greater China Holdings Limited placed
27,598,000 shares at HK$0.221 per share and the net proceeds
reached approximately HK$6,000,000.

In a disclosure to the Stock Exchange of Hong Kong Limited, the
transaction took place in October 2003 and the net proceeds were
applied towards the repayment of the margin loans incurred by
the Group in the course of investment in securities.

In December 2003, the Company further placed 33,100,000 shares
at HK$0.231 per share and the net proceeds was approximately of
HK$7,600,000. Completion was taken place in January 2004 and the
net proceeds were applied as the general working capital of the
Group.

The Group has a current ratio of approximately 0.42 as at 31
December 2003 (as at 31 December 2002: 1.75) and the gearing
ratio was 1.40 as at 31 December 2003 (as at 31 December 2002:
0.85). The calculation of gearing ratio was based on the total
borrowing of HK$142,453,000 (31 December 2002: HK$172,979,000)
and the net assets of HK$101,648,000 as at 31 December 2003 (31
December 2002: HK$203,340,000).

There were no significant capital commitments as at 31 December
2003, which would require a substantial use of the Group's
present cash resources or external funding.

The Group does not anticipate any material foreign exchange
exposure since its cash, borrowings, revenue and expenses are
denominated in Hong Kong dollars.

CHARGED ON ASSETS

As at 31 December 2003, all the Group's investment properties
and the issued shares of China Faith Limited, a wholly owned
subsidiary of the Company are pledged and the rental income in
respect of the investment properties under operating leases are
assigned to a bank against a bank loan of HK$138,300,000 (as at
31 December 2002: HK$147,400,000) granted to the Group.

Other investments of HK$14,695,000 (31 December 2002:
HK$101,431,000) are pledged against margin and other loan
facilities granted to the Group.


HAINAN TRAVEL: Schedules Winding up Hearing May 12
--------------------------------------------------
Notice is hereby given that a petition for the winding up of
Hainan (H.K.) Travel Agency Limited by the High Court of Hong
Kong was on the 12 March 2004 presented to the said Court by Hon
Yin of 3/F., 177 Fa Yuen Street, Mongkok, Kowloon, Hong Kong.
The said petition will be heard before the Court at 9:30 a.m. 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. 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.

Ms. Ada Chau Ming Wai
For Director of Legal Aid
34th Floor, Hopewell Centre
183 Queen's Road East, Wanchai
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 so to do.  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 of the 11 May 2004.


HENTIFF LIMITED: Court Sets Hearing Date
----------------------------------------
Notice is hereby given that a petition for the winding up of
Hentiff Limited by the High Court of Hong Kong was on the 29
March 2004 presented to the said Court by Tsang Tak Fu of Room
232, Lee Hang House, Shun Lee Estate, Kowloon, Hong Kong. The
said petition will be heard before the Court at 9:30 a.m. on the
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. 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.

Ms. Ada Chau Ming Wai
For Director of Legal Aid
34th Floor, Hopewell Centre
183 Queen's Road East, Wanchai
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 so to do.  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 of the 8 June 2004.


HUALING HOLDINGS: Narrows 2003 Net Loss to HK$76.97M
----------------------------------------------------
Hualing Holdings reported a net loss of HK$76.97 million for the
year ended December 31, versus a net loss of HK$250 million a
year earlier, according to the South China Morning Post.

The refrigerator and air-conditioner maker had introduced cost-
control measures, sparked by a drop in the price of household
electrical appliances and a rise in the cost of raw materials,
such as steel and cooper. Overall management and sales costs
fell about 6 percent and 2 percent respectively compared with
2002. The loss per share was 5.6 HK cents. No dividend was
declared.


WELL HOPE: Creditors Meeting Set May 5
--------------------------------------
Notice is hereby given that a meeting of the creditors of Well
Hope Industrial Limited will be held at Room 1101, 11/F., Shiu
Lam Building, 23 Luard Road, Wan Chai, Hong Kong on 5 May 2004
at 2:30 in the afternoon.

Creditors may vote either in person or by proxy. Forms of proxy
to be used at the meeting must be lodged at Room 1101, 11/F,
Shiu Lam Building, 23 Luard Road, Wan Chai, Hong Kong not later
than 4 p.m. on the day before the meeting or adjourned meeting
at which they are to be used.

By Order of the Board of
Well Hope Industrial Limited
Yeung Chun Sau
Director

This Quamnet announcement is dated 23 April 2004.


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


BANK TABUNGAN: Pefindo Assigns Bonds Ratings
--------------------------------------------
Pefindo Credit Rating Indonesia assigned a "idBBB+" rating for
PT Bank Tabungan Negara (BTNG)'s proposed Bonds X of IDR750
billion and "idBBB" for its Subordinated Bond I of IDR250
billion. At the same time, Pefindo upgraded its ratings for BTNG
and Bonds IX/2003 of IDR750 billion to "idBBB+".

The ratings reflect BTNG's strong presence in housing ownership
loan market (KPR), especially in low to middle income classes,
well-managed asset quality, and improving capitalization.
Nevertheless, although improving, BTNG still bears relatively
high cost of fund due to its unfavorable funding structure,
which eventually leads to less favorable profitability ratios
compared to that of peers.

In addition, BTNG still faces significant maturity mismatch due
to its focus on long-term house loans, whereas most of funding
are still in the form of deposits that have short maturity.
Established under the name of Postpaarbank in 1897, the bank's
name was several times changed before it is known as Bank
Tabungan Negara in 1963 up until now.

In 1974, BTNG was appointed as the housing loan financing
institution for low to medium income classes in order to support
the government's housing development program. BTNG has tapped
bond market since 1989 by issuing its five-year Bond I of IDR50
billion. Since then, BTNG has regularly issued bonds to finance
its loan expansion and reduce its maturity mismatch. Similar to
other banks, BTNG had suffered huge losses and negative equity
following the economic crisis in 1997.

As a result, in 2000, the bank was recapitalized with an
injection of IDR13.8 trillion recap bonds, which subsequently
made the bank's CAR sharply increase to 8.7% from minus 288.1%.
Following the recapitalization program and more conservative
lending, BTNG has gradually improved its performance in the past
three years.

As of December 2003, BTNG booked total assets of IDR26.8
trillion, which placed it as the 8th largest bank in the
country. The bank's operation is supported with 44 branches, 59
sub-branches, 88 cash offices and 171 fully owned ATMs in
addition to more than 4,000 units of ATM HIMBARA. As to date,
the Government of Indonesia (GOI) still holds 100% ownership of
BTNG.


* Prudential Life to Appeal Indonesian Court Decision
-----------------------------------------------------
In a company press release PT Prudential Life Assurance
disclosed that it recently terminated a consultancy contract for
agency sales force management, following legal advice. As a
result, the consultant has made a claim against PT Prudential
Life Assurance for approximately US$40 million and has filed a
bankruptcy petition in the Jakarta Bankruptcy Court. The Company
considers, on the basis of its legal advice, that the bankruptcy
petition is ill conceived.

Jakarta's Bankruptcy Court returned its verdict Friday. It held
that the Company owes the consultant approximately US$ 400,000
and as a result, has put the Company into bankruptcy. PT
Prudential Life Assurance is very surprised that the Court has
decided to accept the petition filed against it. PT Prudential
Life Assurance plans to vigorously appeal the Jakarta Bankruptcy
Court's decision.

While the appeal process is underway, Prudential' s operations
in Indonesia intend to continue business as usual. All
Prudential policies remain completely unaffected and our total
commitment to our customers and our employees continues
undiminished.

PT Prudential Life Assurance is financially very strong. Its
Risk Based Capital (RBC) ratio of 255% (as at December 31, 2003)
compares very favorably with the 100% requirement dictated by
the Ministry of Finance.

ENQUIRIES TO:

Media Investors/ Analysts
Geraldine Davies: 0207 548 3911     
Steve Colton: 020 7548 3721
Rebecca Burrows: 020 7548 3537
Clare Staley: 020 7548 3719
Marina Lee-Steere:  020 7548 3511  


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


GENERAS CORPORATION: Files for Court Protection
-----------------------------------------------
Generas Corporation has filed with the Tokyo District Court for
protection from creditors under the fast-track corporate
rehabilitation law, according to Kyodo News. The real estate
developer has total liabilities of 23.3 billion yen.

The Company's principle activity is to operate real estate. The
Company is also involved in the hotel/tourism business. Real
estate operations including construction and sales of
condominiums and apartments and rental and leasing of apartments
and buildings accounted for 77 percent of 2001 revenues; hotel
operations, 20 percent and others, 3 percent.
ADDRESS:

Web site: http://www.chisan-tokan.co.jp/
7-8 Shibuya 1-Chome
Shibuya-Ku 150-0002, Tokyo 150-0002
Japan

BOARD OF DIRECTORS:

President - Takeshi Watanabe
Senior Managing Director - Masayuki Kato
Managing Director - Yoshihiro Gondo
Managing Director - Kenji Fukuchi


ISHIKAWAJIMA-HARIMA: R&I Downgrades Rating to BBB+
--------------------------------------------------
Rating and Investment Information, Inc. (R&I) has removed the
following ratings of Ishikawajima-Harima Heavy Industries Co.,
Ltd. from the Rating Monitor scheme and has downgraded them as
follows:

Senior Long-term Credit Rating; Long-term Bonds (9 Series)
Preliminary Rating for the Shelf Registration scheme

R&I RATING: BBB+; (Downgraded from A-; Removed from the Rating
Monitor scheme) Domestic Commercial Paper Programme

R&I RATING: a-2; (Downgraded from a-1; Removed from the Rating
Monitor scheme)

RATIONALE:

Ishikawajima-Harima Heavy Industries (IHI) has recorded a
consolidated net loss of 39 billion yen for the fiscal year
ended March 2004. This is a result of profit deterioration in
some projects, primarily in the energy and plant operations and
the shipbuilding and offshore operations, and changes to
accounting basis for recording accrued loss on sales contracts.
In view of the downward revision of business results on March
15, R&I placed the Senior Long-term Credit Rating and other
ratings for IHI on its Rating Monitor scheme with a view to
downgrading the company's ratings on March 16 and have been
conducting a review.

R&I had concerns about the expansion in business risk
accompanying IHI's active involvement in overseas business and
engineering. This substantial loss means that heightened
business risk has become a reality due to the effect of sharp
rises in raw material prices and the appreciation in the yen. In
addition, optimistic estimates of cost and technical difficulty,
mainly for overseas business, have led to significant cost
increases. Equity capital has also declined significantly, and
R&I consider that IHI's financial resilience to risk is lower
than in the past. R&I has downgraded the company's Senior Long-
term Credit Rating to BBB+, and the rating for its Commercial
Paper program to a-2 and has removed it from the Rating Monitor
scheme.

However, there are some cases that long-term large-scale
projects incur a large additional cost and a company suffers
losses only when the construction is nearing its end. While the
risk for these projects is not apparent now, it certainly cannot
be said that problems will definitely not arise in the future.
From this perspective, R&I believes although IHI has accumulated
reserves, it will not be able to cover all risks. There is a
possibility that the company's rating will be reviewed when
additional loses arise. In the near future, R&I intends to make
additional careful study of the changes in business risk due to
the strengthening of overseas business and engineering, the
latent risk in ordered projects and the effectiveness of whole
company risk management.


MITSUBISHI MOTORS: Rolf Eckrodt Steps Down as President
-------------------------------------------------------
Mitsubishi Motors Corporation (MMC) announced that Rolf Eckrodt
resigned his post as CEO and President effective as of April 26,
2004.

In a Company press release, MMC will appoint a new President,
Representative Director, soon. Until this appointment, Keiichiro
Hashimoto, board member and Chief Financial Officer, will
oversee ongoing business as interim acting President.

Eckrodt joined MMC in January 2001 as Chief Operating Officer in
charge of MMCs passenger car operations. On June 25, 2002,
Eckrodt was elected president and CEO of MMC, a position he held
until Monday.

During his tenure Eckrodt oversaw the successful implementation
of various restructuring measures and far-reaching business
reforms, the spin-off of the company's truck and bus operations
as well as a significant improvement of the operational business
in all regions except North America.

Commenting on the timing for his resignation, Eckrodt pointed to
the decision of the Supervisory Board of DaimlerChrysler neither
to participate in a capital increase nor to grant further
financial support to Mitsubishi Motors Corporation, which was
announced last Thursday.

"I strongly welcome the quick decision of Mitsubishi Heavy
Industries, Mitsubishi Corporation and Bank of Tokyo-Mitsubishi
not only to offer financial support but also to actively work
with Mitsubishi Motors Corporation on a new mid-term business
plan as announced last Friday. Based on my sense of
responsibility, I therefore decided to make way for the new team
around future chairman Okazaki," Eckrodt said. The business
revitalization team headed by Mr. Okazaki will work out this
plan within the next month based on various essential steps that
have already been analyzed and evaluated by MMC so far," Eckrodt
added.

Eckrodt also voiced his wish that MMC and especially its many
motivated and excellent employees will continue the numerous
positive processes initiated. "I hope that the support from the
shareholders side will ensure a prosperous and successful future
not only of MMC, but in the same degree also to our domestic and
international business partners, and of course most importantly
to our customers," he said.

Eckrodt will also retire from a 38-year full-time career in the
automotive business, which he started at Daimler-Benz (today
DaimlerChrysler) in 1966. At the request of Mitsubishi group
companies, Eckrodt will remain available to provide support for
MMC.

ROLF ECKRODT

Date & Place of Birth: June 25, 1942 / Gronau (Westphalia),
Germany

Education: 1966 Diploma in Mechanical Engineering
University of Bochum / Germany

PROFESSIONAL EXPERIENCE

06/2002 President and Chief Executive Officer, Mitsubishi Motors
Corporation

01/2001 Executive Vice President and Chief Operating Officer
Mitsubishi Motors Corporation

12/1998 President and Chief Executive Officer
Adtranz - DaimlerChrysler Rail Systems GmbH

08/1996 Executive Vice President and Deputy Chief Executive
Officer

Adtranz - ABB Daimler-Benz Transportation GmbH and
Chairman of the Board of Management
Adtranz - ABB Daimler-Benz Transportation (Deutschland) GmbH

05/1992 President Mercedes Benz do Brasil, S.A.
Commercial Vehicles, Trucks and Buses

01/1990 Director worldwide Sales and Marketing
Passenger Cars Mercedes-Benz AG

09/1987 Director Planning and Production
Passenger Cars and Components Daimler-Benz AG

04/1986 Executive Assistant to the Head of the Mercedes-Benz
Passenger Car Division

02/1983  Vice President Axle Production Passenger Cars
Daimler-Benz AG

1981 Project Leader Production Components Passenger Cars
Daimler-Benz AG

1968 Manager Passenger Cars
Daimler-Benz AG

04/1966 Quality Assurance Passenger Cars
Daimler-Benz AG

ADDITIONAL ASSIGNMENTS

04/1999 Honorary Consul of Brazil in Potsdam/Germany

1999 - 2000 Chairman of UNIFE (Union of European Railway
Industries)

1993 - 1996 Honorary Degree as Consulate of the Federal Republic
of Germany in Brazil

1993 - 1996 Vice President German/Brazil Chamber of Commerce Sao
Paulo, Brazil


MITSUBISHI MOTORS: Unveils March 2004 Production Sales Results
--------------------------------------------------------------
Mitsubishi Motors Corporation (MMC) on Monday announced the
production, domestic sales, and export results for March 2004
and the fiscal year ended 31 March 2004.

In a Company press release, global production in March totaled
147,438 units, a decrease of 7.1 percent compared to March last
year.

Output in Japan increased 4.5 percent to 78,655 units on the
back of added production of minicars such as the Minicab van and
truck.

Offshore production slipped 17.6 percent to 68,783 units.
Production in Asia declined 11.8 percent to 46,895 units, North
American output decreased 41.3 percent to 10,831 units, and
European production was off 9.7 percent at 5,786 units.

March sales in Japan decreased 3.5 percent on year to 59,779
units. Of this, registrations, which exclude 660cc minicars,
declined 17.8 percent to 21,243 while minicars grew 6.7 percent
to 38,536 units. MMCs share of the domestic market in March was
7.2 percent, down from 7.5 percent in March last year.

Exports from Japan declined 12.7 percent on year to 34,175
units. By region, exports to Asia jumped 51 percent to 6,122
units, exports to North America decreased 66.6 percent to 5,183
and European-bound shipments increased 13.3 percent to 11,167
units.

FISCAL 2003 RESULTS

Total worldwide production in fiscal 2003 declined 9.4 percent
on year to 1,537,469 units.

Japanese output inched down 1.9 percent to 751,843 units. Of
this, passenger car production dropped 6 percent to 638,919
units while commercial car output increased 30.1 percent to
112,924 units.

Offshore production for the year came to 785,626 units, a 15.5
percent decline compared to fiscal 2002. Production in Asia
declined 11.5 percent to 501,337 units, North American output
decreased 25.4 percent to 156,859 units, and European production
was off 14.3 percent at 75,276 units.

Domestic sales returned to growth for the first time in eight
years in fiscal 2003. MMC saw sales in Japan rise 1.1 percent on
year to 358,253 units. Registrations gained 1.5 percent to
127,334 units while minicars edged up 0.9 percent to 230,919
units. MMCs share of the overall domestic market, which includes
trucks and buses, was 6.1 percent, up from 6 percent in fiscal
2002. For the passenger car only market, MMCs share rose from
6.6 percent to 6.8 percent despite a 2 percent drop in overall
demand.

The Company also saw sales return to growth in Europe after four
years of continuous decline, selling 213,700 units across Europe
for a 7 percent gain on year. Sales in Asia increased to 680,200
units for the year, representing a new record high in this
important growth region. In particular, sales in China surged
65.8 percent to 151,000 units.

Exports from Japan declined 12 percent to 376,103 units. As a
result of the spin-off of MMCs truck and bus operations in
January 2003, regional year-on-year comparisons are not
available for the fiscal 2003 period due to a change in the
system used by the company to tally exports.


MITSUBISHI MOTORS: S&P Comments on DaimlerChrysler Decision
-----------------------------------------------------------
Standard & Poor's Ratings Services said Friday that the decision
by DaimlerChrysler AG not to participate in a capital increase
planned by Mitsubishi Motors Corporation and to cease further
financial support for the carmaker has no direct effect on the
group's credit rating.

Although this decision limits the uncertainty about potential
future cash contributions from DaimlerChrysler into MMC, it also
brings into question a key component of Chrysler's turnaround
strategy to improve its cost structure by sharing platforms and
procurement activities with MMC. It is not clear to us that MMC
will--under all potential scenarios--meet its contractual
requirements.

In view of these uncertainties, Standard & Poor's views this
development as slightly negative. Had the company chosen to
increase its involvement in MMC, however, the consequences might
have been even more disadvantageous. Nevertheless, Standard &
Poor's will closely monitor existing cooperations between MMC
and DaimlerChrysler operations. We also consider it likely that
there will be an impairment of the value of DaimlerChrysler's
stake in MMC (book value about EUR960 million at Dec. 31, 2003).

The strong operating and financial performance of group
divisions, including the Mercedes Car Group, Services, and
Commercial Vehicles, which is expected to continue in 2004,
provides sufficient leeway in the rating to sustain this
development.


NIKKO CORDIAL: Swings to Profit in 2003
---------------------------------------
Nikko Cordial Corporation returned to profit in the fiscal year
2003 for the first time in three years, buoyed by stock market
rally, according to Kyodo News. In its consolidated earnings
report for the year to March 31, the Company posted a group net
profit of 38.70 billion yen, a reversal from a loss of 21.61
billion yen a year earlier.

For a copy of the Company's consolidated financial summary for
the year ended 31 March 2004, go to
http://bankrupt.com/misc/tcrap_nikkocordial0428.pdf


NIKKO CORDIAL: Unit Gets Administrative Action
----------------------------------------------
Nikko CitiTrust and Banking Corporation (NCTB), one of the
consolidated subsidiaries of Nikko Cordial Corporation, received
an administrative action from Japan's Financial Services Agency
(FSA). The FSA determined that NCTB violated certain
requirements in its trust business. The regulatory authorities
also identified shortcomings in compliance and internal control
functions.

In a Company press release, in accordance with an order from the
FSA, NCTB will be suspended from accepting new customers for its
custody and clearing services from April 30, 2004.

The suspension does not apply to any existing custody business
or to custody services related to debt liquidation. NCTB's other
non-custodial businesses also remain unaffected.

After November 1, 2004, NCTB can request that the FSA review the
suspension order pending progress made on the business
improvement plans.

Nikko Cordial Corporation will give NCTB a great effort to
backup.  


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


HYNIX SEMICONDUCTOR: Faces Setback in China Plant Plan
------------------------------------------------------
Hynix Semiconductor Inc.'s plan to set up a chip-manufacturing
factory in China faced a major setback Monday as creditors
disapproved its financing plan and expressed concern over who
would manage the plant, according to the Korea Times.

Hynix had planned to secure an annual production capacity of
20,000 units of 200mm wafers and 17,000-20,000 units of 300mm
wafers from late next year in the China plant. The estimated
factory plant could cost US$1.5 billion.

The chipmaker was nearly bankrupt two years ago when a glut in
the global semiconductor market forced consolidation and a shift
to flash memory chips.


JINRO INDUSTRIES: Taihan Electric Buys Firm for US$244M
-------------------------------------------------------
Taihan Electric Wire Co. recently bought a quarter interest in
Jinro Industries Co.'s debt for 280 billion won (US$244
million), in an effort to acquire the financially weak cable
maker, Yonhap News reports.

Goldman Sachs controls about a third of Jinro's 2.9 trillion won
debts and had been pushing for a sale of the distiller, which
has been under court receivership since last May, through an
auction, TCR-AP reported recently.

Jinro currently controls 55 percent of the domestic soju market
in South Korea and reported 643.3 billion won in revenue in
2003.


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


ANSON PERDANA: Adjourns Winding up Petition June 18
---------------------------------------------------
Anson Perdana Berhad (Anson) announced that the hearing on 23
April 2004 in respect of the winding-up petition served on the
Company by Jethsuch Sdn Bhd has been adjourned to 18 June 2004.

This Bursa Malaysia Securities Berhad announcement is dated 26
April 2004.


ANTAH HOLDINGS: Issues Default Status Update
--------------------------------------------
Antah Holdings Berhad announced that further to the Company's
announcement on 25 March 2004, there are no further developments
in respect of the default in payments of the various credit
facilities to the financial institutions and non-financial
institutions.

Antah is currently in the process of discussion and negotiations
with the lenders and creditors for the adoption of a proposed
debt-restructuring scheme.

This Bursa Malaysia Securities Berhad announcement is dated 26
April 2004.


BOUSTEAD HOLDINGS: Lists New Ordinary Shares
--------------------------------------------
Boustead Holdings Berhad (BSTEAD) would like to announce that
its additional 671,000 new ordinary shares of RM0.50 each issued
pursuant to the BSTEAD-Employees' Share Option Scheme, will be
will be granted listing and quotation with effect from 9 a.m.,
Wednesday, 28 April 2004.

This Bursa Malaysia Securities Berhad announcement is dated 26
April 2004.


KILANG PAPAN: Unveils Investigative Audit Results
-------------------------------------------------
Kilang Papan Seribu Daya Berhad (KPSD) is a PN4 Company
currently listed on the Second Board of Bursa Malaysia. A
restructuring scheme was subsequently formulated and approved in
accordance to the Pengurusan Danaharta Nasional Berhad Act,
1998.

The Securities Commission in granting their approval to the
restructuring scheme of KPSD (which includes the transfer of
listing status to West Coast Forest Industries Berhad) imposed
that KPSD appoint an experienced independent audit firm to carry
out an investigative audit on the past losses incurred by the
KPSD group. The Company is required to take the necessary steps
to recover the losses incurred by the KPSD group. Furthermore
based on the findings of the investigative audit, KPSD is
required to make reports to the relevant authorities if it is
established that there have been breaches of law, regulations,
guidelines and/or KPSD's memorandum and articles of association
that are related to the board of Directors of KPSD and/or any
other parties that have caused the said losses of the KPSD
group.

In compliance with the Securities Commission's requirement, the
Company appointed Messrs Anuarul Azizan Chew & Co (AAC) on 26
February 2002 to carry out an investigative audit. On 31 October
2003, two copies of the investigative audit reports issued by
AAC were submitted to the Securities Commission in accordance
with their requirements.

This announcement is made in accordance with the requirements of
the Securities Commission following their approval of the
restructuring scheme of KPSD dated 28 December 2002.

For a copy of the summary of transactions investigated by AAC,
go to
http://bankrupt.com/misc/tcrap_kilanpapan0428.doc

This Bursa Malaysia Securities Berhad announcement is dated 27
April 2004.


OILCORP BERHAD: Posts Changes in Director's Shareholding
--------------------------------------------------------
Oilcorp Berhad Director Mohamed Hazali Bin Dato' Seri Abu Hassan
has the intention to deal in the shares of the Company, which is
currently in the closed period pending announcement of its
results for the first quarter ended 31 December 2004. His
current shareholdings are as follows:

Name of Director: MOHAMED HAZALI BIN DATO' SERI ABU HASSAN

Direct         Indirect
No. of Shares    % of the Company's issued
                 and paid-up share capital

2,592,100        1.71


Direct           Indirect
No. of Shares    % of the Company's issued
                 and paid-up share capital

3,994,800        2.64

This Bursa Malaysia Securities Berhad announcement is dated 26
April 2004.


OCEAN CAPITAL: Announces Registrar's Change of Address
------------------------------------------------------
Ocean Capital Berhad announced on the Bursa Malaysia Securities
Berhad on 26 April that the company's share registrar Signet
Share Registration Services Sdn Bhd has moved from its old
address at the 11th Floor, Tower Block, Kompleks Antarabangsa,
Jalan Sultan Ismail 50250 Kuala Lumpur on 26 April 2004.

Signet Share is now located at Level 26, Menara Multi Purpose,
Capital Square, No. 8, Jalan Munshi Abdullah, 50100
Kuala Lumpur.

They may be contacted at telephone number 03-27212222 or
facsimile number 03-2721530 / 03-27212531.

This Bursa Malaysia Securities Berhad announcement is dated 26
April 2004.


OSK HOLDINGS: Enters Alliance With Equitable Investment
-------------------------------------------------------
The Board of Directors of OSK Holdings Berhad wishes to announce
the Company has entered into a Shareholders Agreement with
Equitable Investment Co. (Hong Kong) Ltd (EIC). In view thereof,
a 50:50 joint venture company, OSK Wealth Planners Sdn Bhd
(Company No. 650122-A) (OSKWP) was formed 22 April 2004 to carry
on the business of integrated financial planning to high net
worth clientele as governed in the Shareholders Agreement dated
26 April 2004.

The initial authorized share capital of OSKWP is RM100,000,
divided into 100,000 Ordinary Shares of RM1.00 and presently its
paid-up share capital is made up to 2 Ordinary Shares of RM1.00
each.

PARTIES TO THE JOINT VENTURE

OSK Holding Berhad is a company incorporated in Malaysia on 1
November 1990 and listed on the Main Board of Bursa Malaysia
Securities Berhad (formerly known as Malaysia Securities
Exchange Berhad) (BMSB). The present paid-up share capital of
OSK is RM619,127,961, comprising  619,127,961 ordinary shares of
RM1.00 each.

EIC is a company incorporated in British Virgin Islands on 1
October 1990. The principal activity of EIC is an investment
company.

DETAILS OF THE JOINT VENTURE

The Shareholders Agreement between the Company and EIC is not
subject to the approval of the shareholders of OSK or any other
authority.

FINANCIAL EFFECT OF THE JOINT VENTURE

There is no effect on the issued and paid-up share capital of
OSK. The joint venture is not expected to have any material
effect on the earning and net tangible assets of OSK Group for
the financial year ending 31 December 2004.

DIRECTORS' AND MAJOR SHAREHOLDERS' INTEREST

None of the existing Directors and/or Major Shareholders of OSK
and persons connected to them have any interest, whether direct
or indirect in the Shareholders Agreement.

DIRECTORS' RECOMMENDATION

The Directors of OSK are of the opinion that the joint venture
between the Company and EIC is in the best of the Group.

This Bursa Malaysia Securities Berhad announcement is dated 26
April 2004.


OSK HOLDINGS: Announces Listing of New Shares
---------------------------------------------
OSK Holdings Berhad (OSK) would like to announce that the
Company's additional 12,000 new ordinary shares of RM1.00 each
issued pursuant to the OSK-Executive Share Option Scheme will be
will be granted listing and quotation with effect from 9 a.m.,
Wednesday, 28 April 2004.

This Bursa Malaysia Securities Berhad announcement is dated 26
April 2004.


TECHNO ASIA: Slapped with Public Reprimand
------------------------------------------
Bursa Malaysia Securities Berhad in consultation with the
Securities Commission, publicly reprimanded Techno Asia Holdings
Berhad (TECASIA) for breach of paragraph 9.16(1)(a) of Bursa
Malaysia Securities Berhad's Listing Requirements (LR).

Although TECASIA is no longer listed on Bursa Malaysia
Securities Berhad, the breach was committed by TECASIA while it
was listed on the Official List of Bursa Malaysia Securities
Berhad. On 9 December 2003, TECASIA was de-listed and Yu Neh
Huat Berhad had assumed the listing status in place of TECASIA.

Paragraph 9.16(1)(a) of the LR states that the contents of a
press or other public announcement is as important as its
timing. A listed issuer must ensure that each announcement is
factual, clear, unambiguous, accurate, and succinct and contains
sufficient information to enable investors to make informed
investment decisions.

TECASIA was found to be in breach of paragraph 9.16(1)(a) for
failing to take into account some significant items in the
Company's fourth quarterly report for the financial year ended
31 December 2002 (FYE 31 December 2002) which was announced to
Bursa Malaysia Securities Berhad on 28 February 2003. These
items were only adjusted in the audited accounts for the FYE 31
December 2002 which was announced on 21 April 2003 resulting in
a variation between the un-audited profit after taxation and
minority interest of RM10.2 million and the audited profit after
taxation and minority interest of RM71.5 million for the FYE 31
December 2002.

The public reprimand was imposed pursuant to paragraph 16.17 of
the LR after taking into consideration all relevant factors,
including the fact that TECASIA has previously breached the
listing requirements of Bursa Malaysia Securities Berhad and
after consultation with the Securities Commission.

PREVIOUS PUBLIC REPRIMAND

(a) On 21 May 1998, TECASIA was publicly reprimanded for breach
of Section 57 of the Main Board Listing Requirements (MBLR) for
failing to furnish the preliminary financial statement for the
financial year ended 31 December 1997 within the timeframe
stipulated.

(b) On 16 October 1998, TECASIA was publicly reprimanded for
breach of Section 60 of the MBLR for failing to furnish the
Annual Report for the financial year ended 31 December 1997
within the timeframe stipulated.

(c) On 24 February 2001, TECASIA was publicly reprimanded for
breach of Sections 34 and 341(1) of the MBLR. TECASIA had failed
to make an immediate announcement pursuant to Section 34 of the
MBLR in respect of the appointment of Receiver & Manager on
Westmont Mount Austin Sdn Bhd (WMA), a wholly owned subsidiary
company of the Company. The Company had also breached Section
341 of the MBLR in respect of the announcement on the
appointment of receiver and manager on WMA dated 5 January 2000
as the contents of the said announcement contradicted with its
subsequent announcement dated 12 January 2000.

(d) On 6 October 2001, TECASIA was publicly reprimanded and
fined RM25,500 for breach of Section 60(b) of the MBLR for
failing to furnish the annual audited accounts for the financial
year ended 31 December 2000 within the timeframe stipulated.

This Bursa Malaysia Securities Berhad announcement is dated 26
April 2004.


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


ABS-CBN BROADCASTING: To Raise US$120M to Refinance Debts
---------------------------------------------------------
ABS-CBN Broadcasting Corp. disclosed to the Philippine Stock
Exchange that it is in the process of negotiating with a
syndicate of private banks to raise US$120 million to refinance
the Company's existing debts and to fund further investments in
cable television operations.

The new loan will be secured by the company's real property and
certain equipment and other assets and will be guaranteed the
certain of the company's subsidiaries.

It has been the Company's practice to inform the exchange of any
developments in line with this planned fund raising activity
that will have a significant impact on the operations and
financial performance of the company.

This information is being submitted in compliance with the rules
of the Securities and Exchange Commission and the Philippine
Stock Exchange.


BAYAN TELECOMMUNICATIONS: Court Orders Creditors' Equal Care
------------------------------------------------------------
Bayan Telecommunications (BayanTel) received an order from a
Pasig court to treat both secured and unsecured creditors
equally until the company has completed its financial
rehabilitation, according to the BusinessWorld online.

The order, which came out on April 19, states that secured and
unsecured creditors should be placed in equal footing during
debt repayment.  Nobody should be paid ahead of the other
without insolvency or liquidation proceedings.

"The court rules that pari passu is applicable and it applies to
all creditors of BayanTel, whether secured or unsecured, in the
rehabilitation proceedings at bar," the court said.

"The only right of the secured creditor would be to foreclose
the mortgage if the credit has already matured and is not paid.
A preference is an exception to the general rule. Hence, the law
on preference of credits is strictly construed," it added.

BayanTel's secured creditors include the Philippine National
Bank, Development Bank of the Philippines, Land Bank of the
Philippines, United Coconut Planters Bank, and Asian Finance &
Investment Corp., which the telecommunications company owes $277
million their assets placed as collateral.

Unsecured bondholders are Avenue Asia Investments, L.P., Avenue
Asia International Ltd., Avenue Asia Special Situations Fund II,
L.P., Avenue Asia Capital Partners, L.P., and Van Eck Global
Opportunity Masterfund Ltd., BayanTel owes this group $200
million dollars.

But both creditors as well as BayanTel oppose the pari passu
ruling for it allegedly violates the non-impairment of contract
clause in the constitution.  But the Pasig court's defense is
that the privilege of BayanTel to prioritise the secured
creditors is just suspended so the company does not impair its
contractual obligations with banks.

"Rehabilitation is not liquidation but to rescue the distressed
corporation and continue its operations. If one creditor is
preferred to the others, the rationale behind the rehabilitation
to effect a feasible and viable rehabilitation cannot be
achieved," the court said.

It also said "equality of treatment" of BayanTel creditors would
stay until the termination of the company's rehabilitation.


FIRST PHILIPPINE: Sets Annual Stockholders Meeting
--------------------------------------------------
First Philippine Holdings Corp. submits to the Philippine Stock
Exchange a notice on the Annual Stockholders Meeting to be held
on May 17, 2004, Monday at 3:00 p.m. at the Meralco Theater,
Lopez Building, Ortigas Avenue, Pasig City.  These matters will
be discussed.

(1) Call to Order

(2) Proof of Required Notice

(3) Determination of Quorum

(4) Approval of the Minutes of the June 9, 2003 Stockholders
Meeting

(5) Reports of the Chairman and the President

(6) Approval of the December 31, 2003 Reports and the Audited
Financial Statements.

(7) Ratification of the Acts of the Board, of the Executive
Committee and of Management.

(8) Delegation of Authority to the Board relating to the
amendment of the By-Laws incorporating the procedures for the
nomination and election of independent directors.

(9) Election of Directors

(10) Appointment of External Auditors

(11) Other Matters

(12) Adjournment

For the purpose of the meeting, only stockholders of record as
of April 16, 2004 are entitled to attend and to vote in the said
meeting.

Should you be unable to attend the meeting in person, you may
want to execute a proxy in favor of a representative.  The
company encloses a proxy form for your convenience.  For
validation, proxies must be received by the undersigned through
our Stock Transfer Agent, Securities Transfers Services Inc. 4th
Floor, Benpres Building, Exchange Road cor. Meralco Avenue,
Pasig City on or before May 10, 2004  


NATIONAL STEEL: SEC Dragging RTC's Sale Approval
------------------------------------------------
National Steel Corporation's (NSC) sale to the Indian firm
Global Infrastructure Holdings Inc. (GIHL) may not push through
for the Securities and Exchange Commission (SEC) is holding back
its approval of the deal amid a legal issue, according to The
Manila Times.

The agreement between NSC and GIHL is supposed to be completed
by Wednesday, April 28, but SEC has not given their approval for
the deal yet, SEC chair Lilia R. Bautista said.

Ms. Bautista said she was still waiting for the Quezon City
Regional Trial Court to issue a temporary restraining order
(TRO), as recently requested by a landowner against the SEC and
the SEC-appointed liquidator for NSC, Danilo Concepcion.

According to a report by TCR-Asia Pacific recently, a land
dispute that resulted to a filing of a temporary restraining
order of the lots owner against NSC has derailed the sale of the
steel company to GIHL.


PHILIPPINE AIRLINES: Takes Extra Care After Strike Threats  
----------------------------------------------------------
Bangkok police announced on Monday that Philippine Airlines
(PAL) was threatened by a group saying it would strike at the
airline's offices.  The campaign is believed linked to U.S.-led
operations in Iraq, according to AFX-Asia.

The reported threat was issued in Thailand by a group which has
targeted Asian embassies, flights and tourist spots.  However,
PAL's flight operations are normal and the carrier is
cooperating with authorities in Thailand and Philippines, PAL
spokesman Rolando Estabillo said in a statement.  

"Philippine Airlines is taking all necessary precautions vis-a-
vis this threat. PAL is closely coordinating with Thai and
Philippine authorities to ascertain the veracity of the threat
and deal with it accordingly," Mr. Estabillo said.

The Philippines government has rejected calls to bring home a
small military and police contingent serving with the US-led
occupation forces in Iraq, though it has restricted them to camp
and suspended plans to send reinforcements, AFX-Asia reports.
      

PHILIPPINE LONG: Issues Notice of Annual Stockholders Meeting
-------------------------------------------------------------
Philippine Long Distance Telephone Company (PLDT) furnished the
Philippine Stock Exchange a copy of its Definitive Information
Statement in connection with its Annual Stockholders' Meeting,
which will be held on June 8, 2004 at 4:00 p.m. at the Grand
Ballroom, Dusit Hotel Nikko, Ayala Center, Makati City.

As previously announced, "(t)he Board of Directors has fixed
April 9, 2004 as the record date for the determination of
stockholders entitled to notice of, and to vote at, said Annual
Meeting."

Attached is a copy of the Notice of Annual Meeting of
Stockholders.

A copy of TEL's Definitive Information Statement shall be made
available for reference at the PSE Centre and PSE Plaza
libraries. The same shall likewise be made available for
downloading at the PSE website: www.pse.com.ph (under Listed
Companies).

To view a copy of the document, click
http://bankrupt.com/misc/PHILIPPINELONG042704.pdf


PHILIPPINE LONG: Bags Overall Best Managed Company Award
--------------------------------------------------------
In a company press release Philippine Long Distance Telephone
Co. disclosed that:

After commemorating its 75th year as the telecommunications
giant, PLDT has another reason to celebrate. Asia Money, one of
the most influential and trusted financial magazines in Asia,
has recently recognized PLDT as the Philippines Overall Best
Managed Company. PLDT was chosen by over 200 investors from 180
institutions worldwide in the 12th annual survey conducted by
Asia Money. It has also garnered first in the following
categories:

- Best Corporate Strategy
- Best Financial Management
- Best Investor Relations
- Best Focus on Shareholder Value
- Best Operational Efficiency
- Most Improved in Corporate Governance

To view full copy of this press release, click
http://bankrupt.com/misc/PLDT042604.pdf


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


CYCAD PTE: Schedules Winding up Hearing
---------------------------------------
Notice is hereby given that a petition for the winding up of
Cycad (Singapore) Pte Ltd by the High Court was on the 14 April
2004 presented by Yeung Hi Hung. The said petition will be heard
before the Court sitting at the High Court in Singapore at 10
o'clock in the forenoon on the 7 May 2004. Any creditor or
contributory of the said Company desiring 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.

The Petitioner's address is Blk 155, Hougang Street 11 #02-184,
Singapore 530155.

The Petitioner's Solicitors are Messrs A.Ang, Seah & Hoe of 141
Market Street, #06-01 International Factors Building, Singapore
048944.

Messrs A.ANG, SEAH & HOE
Solicitors for the Petitioner.

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
Messrs A. Ang, Seah & Hoe of 141 Market Street, #06-01
International Factors Building, Singapore 048944, notice in
writing of his intention so to do. The notice must state the
name and address of the person, or, if a firm, the name and
address of the firm, and must be signed by the person or firm,
or his or their Solicitors (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 twelve o'clock noon on the 6th day of
May 2004 (the day before the day appointed for the hearing of
the Petition).


FASTHUB PTE: Issues Winding up Order Notice
-------------------------------------------
Fasthub Pte Ltd issued a notice of winding up order made on the
16 April 2004.

Name and address of Liquidator: The Official Receiver
45 Maxwell Road #05-11/#06-11 The URA Centre (East Wing)
Singapore 069118.

Messrs Wong Partnership
Solicitors for the Petitioner.

This Singapore Government Gazette announcement is dated 26 April
2004.


HUA KOK: Post Changes in Audit Committee
----------------------------------------
The Board of Directors of Hua Kok International Ltd wishes to
announce the resignations of Messrs Damien Seah Yang Hwee and
Fong Nien Song as Directors of the Company with effect from 20
April 2004.

With Messrs Seah and Fong's resignation as Directors, they
ceased to be members of the Audit Committee.

Their replacements will be announced in due course.

Submitted by Phua Puay Heng, Group Financial Controller on
26/04/2004 to the SGX.


LIVONIA INVESTMENTS: Creditors Must Submit Claims by May 21
-----------------------------------------------------------
Notice is hereby given that the creditors of Livonia Investments
Pte Ltd., whose debts or claims have not already been admitted,
are required on or before 21 May 2004 to submit particulars of
their debts or claims and any security held by them to the
liquidator at its address a formal Proof of Debt in accordance
with Form 77 containing their respective debts or claims.

In default of complying with this notice they will be excluded
from the benefit of any distribution made before their debts or
claims are proved or their priority is established and from
objecting to the distribution.

Lim Say Wan
Liquidator.
C/- 6 Shenton Way
#32-00 DBS Building Tower Two
Singapore 068809.

This Singapore Government Gazette announcement is dated 23 April
2004.


MURRANNE PTE: Issues Debt Claim Notice to Creditors
---------------------------------------------------
Notice is hereby given that the creditors of Murranne (Holdings)
Pte Ltd (In Members' Voluntary Liquidation), whose debts or
claims have not already been admitted, are required on or before
21 May 2004 to submit the particulars of their debts or claims
and any security held by them to the liquidator at its address a
formal proof of debt in accordance with Form 77 containing their
respective debts or claims.

In default of complying with this notice they will be excluded
from the benefit of any distribution made before their debts or
claims are proved or their priority is established and from
objecting to the distribution.

Lim Say Wan
Liquidator.
C/- 6 Shenton Way
#32-00 DBS Building Tower Two
Singapore 068809.

This Singapore Government Gazette announcement is dated 23 April
2004.


PERTAMA DEVELOPMENT: Issues Winding Up Order Notice
---------------------------------------------------
Pertama Development Pte Ltd. issued a notice of winding up order
made on the 16 April 2004.

Name and Address of Liquidator: The Official Receiver
Insolvency & Public Trustee's Office
The URA Centre (East Wing)
45 Maxwell Road #06-11
Singapore 069118.

Leong Kwok Yan
Solicitor for the Petitioner.

Note:

(a) All creditors of the company should file their proof of debt
with the liquidator who will be administering all affairs of the
company.

(b) All debts due to the company should be forwarded to the
liquidator.

This Singapore Government Gazette announcement is dated 23 April
2004.






                            *********


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
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