TCRAP_Public/040608.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

             Tuesday, June 8, 2004, Vol. 7, No. 112

                            Headlines

A U S T R A L I A

NATIONAL AUSTRALIA: Wants Michael Chaney Onboard
NATIONAL AUSTRALIA: Board Holds Four-day Strategy Talks
NOVUS PETROLEUM: Agrees to Acquire Novus Indonesian Assets


C H I N A  &  H O N G  K O N G

CHINA GLAD: Court Issues Winding Up Petition
CHUNG WAH: Winding Up Petition Scheduled July 7
CITY MOTOR: Winding Up Hearing Set on June 16
FU SHUN: Winding Up Petition Scheduled June 30
HUNG FUNG: Winding Up Hearing Slated for June 23

L.A. CORPORATE: Winding Up Petition Scheduled June 30
MARKWILL INVESTMENT: Winding Up Petition Set June 30
OPEN TRADE: Winding Up Petition Slated for June 23
ROYALINK INDUSTRIAL: Winding Up Petition Scheduled June 16
SIX ONE: Court Issues Winding Up Petition

WORLWIDE BRANDS: Releases Debt Claim Notice to Creditors
ZHU KUAN: Collapses Under Weight of HK$7 Billion Debt


I N D O N E S I A

PERTAMINA: Joins Forces With PLN To Build US$250M LNG Terminal
PRUDENTIAL LIFE: Boasts of 3,000 New Applications Worth Rp29B


J A P A N

ALL NIPPON: Prepares to Set Up New Low-Cost Subsidiary
APLUS CO.: UFJ Group in Talks to Sell Ailing Affiliate
HOKKAIDO INTERNATIONAL: Posts First-ever Pretax Profit
HOTEL SHIKISAI: IRCJ to Aid Regional Hotel
KANEBO LIMITED: Looks to Trim Liabilities Over Next Three Years

MITSUBISHI MOTORS: Goes Ahead With US$500M Thai Expansion
MITSUBISHI MOTORS: Colt Stays Out of Top 30


K O R E A

HYNIX SEMICONDUCTOR: Stake In Hyundai Autonet Down to 19.4%


M A L A Y S I A

ANCOM BERHAD: Issues Proposed Reorganization Update
ASIA PACIFIC: Issues Notice On AGM
ASIA PACIFIC: Issues Notice On EGM
BOUSTEAD HOLDINGS: Releases Update On Proposed Bond Issuance
BOUSTEAD HOLDINGS: To List Additional 164,000 Ordinary Shares

GADANG HOLDINGS: BMSB Grants Listing Of 1,000 Ordinary Shares
JIN LIN: Issues Extension Application Update
KSU HOLDINGS: Court Appoints Receiver and Manager
LIEN HOE: Issues AGM Notice
MALAYSIA MINING: Receives Approval For Name Change

MENTIGA CORPORATION: Details AGM Agenda
POS MALAYSIA: Issues Additional Shares For Listing
SIME DARBY: Issues Additional 16,000 Ordinary Shares For Listing
SUGAR BUN: Clarifies Item On FS
SUNWAY CONSTRUCTION: BMSB To Grant Listing Of 204,400 Shares

SUNWAY HOLDINGS: Issues Update On Warrants
TANJONG PUBLIC: In Closed Period Until Submission Of 1Q Results
TANJONG PUBLIC: Issues Additional 6,000 Shares For Listing


P H I L I P P I N E S

MANILA ELECTRIC: Maturing Debts Cause Refund Delay
PHILIPPINE LONG: Projects PhP10.5B-Profit in 1H Through Smart


S I N G A P O R E

BUNGA BERSATU: Creditors Must Submit Claims by July 31
SIN TECH: Issues Winding up Order Notice
STRONG UNION: Creditors Must Submit Claims by July 31
SUK-A: Releases Winding up Order Notice
WUTHELAM INTERNATIONAL: Creditors Must Submit Claims by July 5


T H A I L A N D

NAKORNTHAI STRIP: Appoints Don Bhasavanich As President
THAI ELECTRONIC: Releases Results Of Sales of Shares

* BOND PRICING: For the Week 7 June to 11 June 2004

     -  -  -  -  -  -  -  -

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A U S T R A L I A
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NATIONAL AUSTRALIA: Wants Michael Chaney Onboard
------------------------------------------------
Wesfarmers Ltd. CEO Michael Chaney plans to join the board of
National Australia Bank Ltd. (NAB) and eventually replace Graham
Kraehe as Chairman in 2005, Dow Jones said Monday.

Mr. Chaney, who is planning to leave Wesfarmers next month, has
held several meetings with parties associated with the NAB board
in recent weeks.  Mr. Chaney has been a member of BHP Billiton's
board (BHP) since 2001.  According to the Australian Financial
Review, Mr. Chaney is NAB's preferred choice for one of two
soon-to-be-vacated positions and also a favorite of key
shareholders.

NAB is desperately in need of a facelift following the AU$360
million foreign currency scandal, which broke out early this
year.  The same scandal led to the departure of eight senior
executives, including former CEO Frank Cicutto and Director
Catherine Walter.


NATIONAL AUSTRALIA: Board Holds Four-day Strategy Talks
-------------------------------------------------------
The board of National Australia Bank (NAB) met yesterday at the
bank's Wood Street headquarters for a four-day caucus to review
current operations.

Expected to take up the board's time are the woes currently
hounding the bank's European operations and ongoing efforts to
gain a foothold in southeast England, the West Australian says.

The bank's Financial Services Europe, which employs more than
11,000 staff and has about 3.5 million customers, operates the
Clydesdale Bank in Scotland, Yorkshire Bank in Northern England,
Northern Bank in Northern Ireland and National Irish Bank in the
Republic of Ireland.


NOVUS PETROLEUM: Agrees to Acquire Novus Indonesian Assets
----------------------------------------------------------
Santos Limited announced Monday that, given Sunov's decision not
to proceed with its bid for Novus Petroleum Limited (Novus),
Santos has agreed with PT Medco Energi Internasional Tbk (Medco)
to acquire part of Novus' Indonesian interests and all of Novus'
Cooper Basin interests, Santos Ltd. reported on its Web site.

Sunov Bid

Sunov has announced that it has decided that it will not be
increasing or extending its offer for Novus. Given this
development, Santos' arrangements with Sunov, regarding the
conditional acquisition of certain Novus assets, have
terminated.

Santos' Agreement with Medco

Santos has now agreed to acquire, subject to certain conditions,
an 18% interest in the Brantas Production Sharing Contract
(PSC), a 9% interest in the Kakap PSC, both in Indonesia, and
Novus' interests in the Cooper Basin. The total cash
consideration is US$110 million, adjusted for an effective date
of 1 January 2004, plus contingent consideration linked to
reserves upside in the Wunut field, which is capped at US$3.5
million. The acquisitions are subject to negotiation and
execution of formal detailed documentation with Medco and will
be conditional upon certain matters including the outcome of the
Medco offer for Novus.

Santos' Managing Director, Mr John Ellice-Flint, said, "The
arrangements with Medco create an opportunity for Santos to
reinforce its commitment to and relationships in Indonesia and
supplement our portfolio with attractive assets which match our
strategy and will be both earnings and cash-flow accretive to
Santos."

BACKGROUND

Indonesian Assets

Novus has a 25% interest in the Kakap PSC (operated by Star
Energy) and a 50% interest in the Brantas PSC (operated by
Lapindo).

Kakap

The Kakap PSC is primarily a gas field, with some oil and
condensate, located in the West Natuna Sea Basin, approximately
1,000 km north of Java. It consists of two separate areas: South
Kakap, which contains all the producing fields, and the much
larger North Kakap.

The first production was from the KH field in 1986.

Gas is delivered to Singapore under a 27-year gas sales
agreement (commencing March 2001) to SembGas, a Singaporean gas
distributor. Gas is sold in US dollars. The gas price is indexed
to oil prices (High Sulphur Fuel Oil).

Brantas

The Brantas PSC covers an area of approximately 3,000 square
kilometres in onshore East Java and offshore Madura Strait,
between East Java and Madura Island.

Santos already has interests in the Sampang and Madura Offshore
PSCs in this region and has made the Oyong and Maleo
discoveries, which are currently being commercialised.

Production is from the Wunut gas field in the central part of
the block, located 30 kilometres south of Surabaya. The Wunut
field was discovered in 1994 and has been producing since 1999.

Gas is sold to PGN, the Indonesian natural gas distributor, for
the supply of up to 80 million cubic feet of gas per day on a
reasonable endeavours basis through to the end of 2007.

The block is also considered to have exploration potential.

Cooper Basin

Novus has a 4.75% interest in the SA Unit (Santos 59.8% and
operator) and a 2.97% interest in the Patchawarra East  Block
(Santos 69.4%).

Reserves and Production

Santos estimates that, on a net entitlement basis, 2004
production for the Indonesian and Cooper Basin interests will be
approximately 2 million barrels of oil equivalent (mmboe). On
the same basis, total proved and probable reserves as at 1
January 2004 are estimated to be approximately 22 mmboe,
primarily gas.

For a copy of the press release, go to
http://bankrupt.com/misc/tcrap_novus0607.pdf


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C H I N A  &  H O N G  K O N G
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CHINA GLAD: Court Issues Winding Up Petition
--------------------------------------------
Notice is hereby given that a Petition for the Winding up of
China Glad Investment Ltd by the High Court of Hong Kong was on
May 7, 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 is directed to be heard before the Court at 10:00
a.m. on the June 30, 2004 and 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.

ROWLAND CHOW, CHAN & CO.
Solicitors for the Petitioner,
15th Floor, Wing Lung Bank Building
45 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 of the 29th day of June
2004.


CHUNG WAH: Winding Up Petition Scheduled July 7
-----------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Chung Wah Welding and Steel Works Ltd by the High Court of Hong
Kong was on May 14, 2004 presented to the said Court by Lam Yim
Yee of Flat C, 10/F.,Block 2, Yue Man Centre, 300 Ngau Tau Kok
Road, Kwun Tong, Kowloon, Hong Kong. The said Petition is
directed to be heard before the Court at 10:00 a.m. on the July
7, 2004 and 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 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 of the 6th day of July
2004.


CITY MOTOR: Winding Up Hearing Set on June 16
---------------------------------------------
Notice is hereby given that a Petition for the Winding up of
City Motor Development Ltd by the High Court of Hong Kong was on
April 2, 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 is directed to be heard before the Court at 9:30
a.m. on the June 16, 2004 and 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.

TSANG, CHAN & 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 of the 15th day of June
2004.


FU SHUN: Winding Up Petition Scheduled June 30
-----------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Fu Shun Furniture Centre Ltd by the High Court of Hong Kong was
on May 3, 2004 presented to the said Court by Chu Yuk Yu of Room
1905, Yiu Yat House, Tin Yiu Estate, Tin Shui Wai, New
Territories, Hong Kong. The said Petition is directed to be
heard before the Court at 9:30 a.m. on the June 30, 2004 and 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 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 of the 29th day of June
2004.


HUNG FUNG: Winding Up Hearing Slated for June 23
------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Hung Fung Investments (Asia) Company Ltd by the High Court of
Hong Kong was on April 23, 2004 presented to the said Court by
Hollywood Place Company Limited whose registered office is
situated at Top Floor, Chinachem Golden Plaza, 77 Mode Road,
Tsimshatsui East, Kowloon, Hong Kong. The said Petition is
directed to be heard before the Court at 9:30 a.m. on the June
23, 2004 and 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.

FORD, KWAN & 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 of the 21st day of June
2004.


L.A. CORPORATE: Winding Up Petition Scheduled June 30
-----------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
L.A. Corporate Services Ltd by the High Court of Hong Kong was
on May 3, 2004 presented to the said Court by Tang Chi Wai Joe
of Room 1104, Pok Yat House, Pok Hong Estate, Shatin, New
Territories, Hong Kong. The said Petition is directed to be
heard before the Court at 9:30 a.m. on the June 30, 2004 and 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 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 of the 29th day of June
2004.


MARKWILL INVESTMENT: Winding Up Petition Set June 30
----------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Markwill Investment Ltd by the High Court of Hong Kong was
on May 5, 2004 presented to the said Court by Wong Sau KAm of
Ground Floor, No.62 Tsoi Uk Tsuen, Yuen Long, New Territories,
Hong Kong. The said Petition is directed to be heard before the
Court at 10 a.m. on the June 30, 2004 and 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 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 of the 29th day of June
2004.


OPEN TRADE: Winding Up Petition Slated for June 23
--------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Open Trade Investment Ltd by the High Court of Hong Kong was on
April 27, 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 is directed to be heard before the Court
at 10 a.m. on the June 23, 2004 and 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.

TSANG, CHAN & 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 of the 22nd day of June
2004.


ROYALINK INDUSTRIAL: Winding Up Petition Scheduled June 16
----------------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Royalink Industrial Ltd by the High Court of Hong Kong was on
April 7, 2004 presented to the said Court by Shinamoto Hong Kong
Limited whose registered office is situated at Suite 502, 5th
Floor, Ocean Centre, Harbour City, Tsim Sha Tsui, Hong Kong. The
said Petition is directed to be heard before the Court at 9:30
a.m. on the June 16, 2004 and 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.

LOVELLS
Solicitors for the Petitioner,
23/f Cheung Kong Center
2 Queen's 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 of the 15th day of June
2004.


SIX ONE: Court Issues Winding Up Petition
-----------------------------------------
Notice is hereby given that a Petition for the Winding up of
Six One Plastic Ltd by the High Court of Hong Kong was on May 7,
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 is directed to be heard before the Court at 10:00 a.m.
on the June 30, 2004 and 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.

ROWLAND CHOW, CHAN & CO.
Solicitors for the Petitioner,
15th Floor, Wing Lung Bank Building
45 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 of the 29th day of June
2004.


WORLWIDE BRANDS: Releases Debt Claim Notice to Creditors
--------------------------------------------------------
Notice is hereby given that the creditors of Worldwide Brands
International (Hong Kong) Ltd (In Members' Voluntary
Liquidation), which is being wound up voluntarily are required
on or before the close of business on June 18, 2004 to send in
their names and addresses and particulars of their debts or
claims, and the names and addresses of their solicitors (if any)
to the undersigned, the liquidator and to establish any title
they may have to prioritize under Section 265 of the Companies
Ordinance or in default thereof, they will be excluded from the
benefit of any distribution made next after June 18, 2004 or as
the case may be objecting to such distribution.

CHAN SEK KWAN RAYS
Liquidators
Unit G, 14/F., Seabright Plaza
9-23 Shell Street, North Point
Hong Kong

This announcement is dated June 3, 2004.


ZHU KUAN: Collapses Under Weight of HK$7 Billion Debt
-----------------------------------------------------
The overseas investment unit of Zhuhai, a town in southern
China, was declared bankrupt by a Macau Court Thursday last
week, Singapore Business Times said.

The Court of First Instance handed the decision against Zhu Kuan
Group, citing its HK$7 billion (S$1.54 billion) accumulated debt
to at least 40 creditors.  According to Standard Chartered
lawyer Jorge Neto Valente, the company has ten days to file an
appeal to Macau's Court of Second Instance.  As of Saturday, the
firm had not done so, Mr. Valente told the paper.

Standard Chartered leads the core of creditors -- which include
BOC Hong Kong, Bank of America and Industrial & Commercial Bank
of China -- seeking Zhu Kuan's liquidation.  The paper said the
liquidation could carry on even pending an appeal by the
company.  The court has already ceased valuable properties and
shares of Zhu Kuan in other companies.

Zhu Kuan's insolvency is one of the largest corporate failures
involving a government-backed investment arm since Guangdong
International Trust & Investment Corp. went belly up in 1999.
The company reached the pinnacle of success in the 1990s when
international investments poured into China.  Aside from its
investments in hotels, bridges, tourism and water parks, the
company tapped international credit markets and issued China's
first junk bonds.  Things went awry during the 1997-1998 Asian
financial crisis and soon the company slipped into a debt pit
that proved too deep to scale.


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PERTAMINA: Joins Forces With PLN To Build US$250M LNG Terminal
--------------------------------------------------------------
In order to supply gas in great volume to a number of power-
generating plants across Indonesia by 2005, state oil company
Pertamina signed a cooperation agreement with state electricity
company PLN, Asia Pulse said.

Under the agreement, the two will put up a liquefied natural gas
(LNG) terminal in Banten province's district of Cilegon.  PLN
president director Eddie Widiono said the investment, amounting
to US$250 million to US$300 million, would cover LNG supplies,
the terminal's construction and operation, and marketing.


PRUDENTIAL LIFE: Boasts of 3,000 New Applications Worth Rp29B
-------------------------------------------------------------
After having been declared bankrupt by the Jakarta Commercial
Court in April, Insurance firm PT Prudential Life Assurance
maintains that it is still winning customers, The Jakarta Post
said Saturday.

The local branch of U.K.-based Prudential Plc was declared
bankrupt by an Indonesian commercial court on April 23 after a
former agent demanded Rp366 billion in unpaid bonuses and other
compensation.  But instead of losing customers, the local unit
received 3,000 new applications between April 30 and May 31, the
report said.  These applications are worth Rp29 billion, a
respectable amount considering that prior to the bankruptcy
ruling the insurance firm underwrote an average of Rp50 billion
worth of policies a month.  The number of new applicants exceeds
the 40 policyholders who wish to end their subscriptions worth
about Rp1 billion, Prudential's financial controller Simon
Imanto adds.

"But we're still trying to hold them back.  Even if they
continue with their decisions, we'll try to persuade them again
(not to quit) should we win our appeal," Mr. Simon said,
referring to the appeal now pending before the Supreme Court.  A
decision is expected shortly.

He said Prudential is committed to honoring outstanding
policies.  In fact, the company continues to process all pending
claims, including eight death claims worth Rp1.6 billion and 400
other claims worth Rp2.2 billion.

Prudential agency manager T.J. Timotius told the Post all of the
firm's agents have been completely open with existing and new
policyholders about the situation.  They even managed to
convince members that the company is financially sound and that
the fiasco is due to "a flaw in Indonesia's legal system."

The firm's total premium income last year reached Rp1 trillion,
compared to Rp477 billion in 2002.

In a statement, Prudential president director Charlie Oropeza
declared that the company is financially stable and that they
are expecting "a fair and objective decision" by the Supreme
Court that would allow them to continue operating in the
country.


=========
J A P A N
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ALL NIPPON: Prepares to Set Up New Low-Cost Subsidiary
------------------------------------------------------
To compete more effectively on shorter routes with rivals such
as Japan Airlines System Corp., All Nippon Airways Co. (ANA) is
planning to set up a low-cost subsidiary that would fly Boeing
737 planes, according to Bloomberg News, citing ANA President
Yoji Ohashi.

The new unit will save costs from using a fleet comprising a
single aircraft type and will have lower personnel costs than
All Nippon Airways, Ohashi said.

Kyodo News Service reported in April that All Nippon plans to
set up a discount carrier this year to fly between regional
airports in Japan. The unit will probably be based in Fukuoka,
the report said, citing unidentified company executives.


APLUS CO.: UFJ Group in Talks to Sell Ailing Affiliate
------------------------------------------------------
The UFJ group is in the final stages of talks with five foreign
financial groups, including Citigroup Inc. of the U.S. and HSBC
of the U.K., to sell struggling consumer finance affiliate Aplus
Co. to one of them for JPY100 billion (US$900 million), reports
Reuters, citing the Nihon Keizai Shimbun.

The major banking group, led by UFJ Holdings Inc, aims to narrow
down the prospective buyers to two or three firms by the end of
the month, and decide on the sale around mid-July. Citigroup is
seen as the most likely purchaser, but HSBC and GE Capital of
the U.S. have also emerged as strong contenders.


HOKKAIDO INTERNATIONAL: Posts First-ever Pretax Profit
------------------------------------------------------
Hokkaido International Airlines Co. incurred its first-ever
pretax profit of JPY1.4 billion in the year to March 31 since it
was founded in November 1996, Kyodo News reported on Saturday.

Widely known as Air Do, the airline is now seeking
rehabilitation under the Civil Rehabilitation Law. It reported
revenues of JPY18.5 billion last year.


HOTEL SHIKISAI: IRCJ to Aid Regional Hotel
------------------------------------------
The Industrial Revitalization Corporation of Japan (IRCJ) will
extend its assistance to Hotel Shikisai, a medium-sized hotel in
a popular hot spring resort in Tochigi Prefecture, the Jiji
Press reveals.

According to the IRCJ, Hotel Shikisai could turn its performance
around if the government body helps the hotel slash debts
accumulated during the years of the asset-inflated bubble
economy in Japan.

The hotel has been having difficulties raising funds following
the bankruptcy of Ashikaga Bank, a regional bank based in
Utsunomiya, Tochigi Prefecture. The bank had been the hotel's
main source of aid before it entered bankruptcy in November
2003.

For the year ended November 2003, Hotel Shikisai reported a net
loss of some JPY50 million, on sales of some JPY500 million.


KANEBO LIMITED: Looks to Trim Liabilities Over Next Three Years
---------------------------------------------------------------
Kanebo Limited plans to cut debts to about JPY81 billion in
three years from JPY601.3 billion as of March 2004 through the
sale of its cosmetics operations and financial aid, Dow Jones
reports, citing the Sankei Shimbun.

Although the struggling drug and textile maker is still unclear
whether it can find buyers for the businesses it plans to pull
out from, Kanebo expects to turn to profitability on an
operating basis this fiscal year and post JPY2 billion operating
profit.


MITSUBISHI MOTORS: Goes Ahead With US$500M Thai Expansion
---------------------------------------------------------
Mitsubishi Motors Corporation (MMC) will continue its half-
billion-dollar expansion plan in export hub Thailand despite a
financial crisis and fresh recall scandals, AFX Asia relates,
citing a report by the Nation newspaper.

Mitsubishi Motors Thailand (MMTh) reportedly said the 21 billion
baht pledged for investment in its Thai operations and
production facility would help maintain its position as the
country's top auto exporter and give it a 10 percent domestic
market share.

"The investment is well underway and being carried out in
stages," the newspaper quoted MMTh President and Chief Executive
Hisayoshi Kumai as saying. "MMTh is Thailand's number one
exporter of automobiles and our Laem Chabang plant (southeast of
Bangkok) is running at full capacity," he added.

Mitsubishi manufactured at least 114,000 vehicles in Thailand
last year, including 82,000 produced for export to 146
countries.

It has no plans of employee cuts in Thailand, the newspaper
said, citing Kumai as saying that a recent massive financial
injection for Mitsubishi could carry the Thai investment.


MITSUBISHI MOTORS: Colt Stays Out of Top 30
-------------------------------------------
Apparently due to the tainted image of the Mitsubishi brand, the
Colt line of vehicles of Mitsubishi Motors Corporation (MMC)
remained off the list of the 30 top-selling cars in May for the
second consecutive month, said the Japan Automobile Dealers
Association Friday, The Japan Time reports.

Sales of the Colt, which used to be one of the most popular cars
in Japan, plunged 58.3 percent in May from a year earlier, with
1,275 fewer vehicles sold. MMC and group subsidiary Mitsubishi
Fuso Truck & Bus Corporation have been under fire for cover-ups
of defective parts.


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


HYNIX SEMICONDUCTOR: Stake In Hyundai Autonet Down to 19.4%
-----------------------------------------------------------
Hynix Semiconductor Inc.'s stake in Hyundai Autonet Co. fell to
19.4 percent from 23.4 percent as of Friday, according to Dow
Jones, citing a filing by Hyundai Autonet with the Financial
Supervisory Service.

Hynix now owns 34.8 million shares in Hyundai Autonet, down from
42.1 million as of July 2003. The shares were disposed via a
block sale.

The Company aims to dispose of its stake in non-related
companies to raise funds to pay down debt as part of a
restructuring plan. At the end of March, Hynix's total
liabilities were KRW5.42 trillion, far exceeding its cash and
cash equivalents, which totaled KRW766 billion.


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


ANCOM BERHAD: Issues Proposed Reorganization Update
---------------------------------------------------
Ancom Berhad refers to its announcement made to Bursa Malaysia
Securities Berhad on 9 July 2003 in relation to its Proposed
Reorganization.

The Securities Commission (SC) has vide its letter dated 1 June
2004, which was received on 3 June 2004, approved the proposed
issuance of RM11,740,654 zero coupon of RM0.10 nominal value of
irredeemable convertible unsecured loan stocks 2004/2009 (ICULS)
by Synergy Trans-Link Sdn Bhd (STL) under Section 32(5) of the
SC Act ,1993. The Foreign Investment Committee (via SC) has also
approved the proposed reorganization in the same letter.

The approval by the SC is subject to the following terms and
conditions:

(1) SC's approval is obtained should there be any changes to the
terms and conditions of the ICULS;

(2) Prior to the issue date of the ICULS, Aseambankers Malaysia
Berhad (Aseambankers) to submit the following information or
documents to the SC:

(a) A copy of the Facility Maintenance File (FMF/JPB) form;

(b) A certified true copy of the executed trust deed for the
ICULS; and

(c) A hard copy and soft copy in diskette (in PDF format) of the
complete principal terms and conditions for the proposed ICULS
issue in the following format:

- Font: Arial
- Font size: 11
- Margins (Top, Down, Right, Left): 1.25"
- Spacing: Single

(3) Prior to the issue of ICULS, the declaration letter issued
by STL be ratified by the proposed Board of Directors of STL
upon it being constituted and an extract of the board resolution
evidencing the ratification be submitted to the SC;

(4) Ancom-ChemQuest Terminals Sdn Bhd to increase its Bumiputera
equity by 1.87 percent within two (2) years after the
implementation of the proposed acquisitions; and

(5) Aseambankers/STL to inform the SC when the proposed
acquisitions are completed.

This announcement is dated 4 June 2004.


ASIA PACIFIC: Issues Notice On AGM
----------------------------------
Notice is hereby given that the 43rd Annual General Meeting of
Asia Pacific Land Berhad will be held at the Miami Hall,
Ferringhi Beach Hotel, Jalan Low Yat, 11100 Batu Ferringhi,
Penang on Tuesday, 29 June 2004 at 11:00 a.m. to transact the
following business:

(1) To receive the Audited Accounts for the year ended 31
December 2003 and the Reports of the Directors and Auditors
thereon. Resolution 1

(2) To approve the payment of Directors' fees to Independent
Non-Executive Directors. Resolution 2

(3) To re-elect Mr. Low Gee Tat @ Gene Low who retires pursuant
to Article 80 of the Company's Articles of Association and being
eligible, offers himself for re-election. Resolution 3

(4) To re-elect YBhg Tan Sri Dato' Lee Kim Sai at Lee Hoo who
retires pursuant to Article 80 of the Company's Articles of
Association and being eligible, offers himself for re-election.
Resolution 4

(5) To re-appoint Horwath as Auditors of the Company and to
authorize the Directors to fix their remuneration. Resolution 5

As Special Business:

(6) To consider and, if thought fit, to pass the following
resolutions with or without modifications as Ordinary
Resolutions:

(6.1) "That YBhg Tan Sri Datuk Seri (Dr) Chong Hon Nyan who
retires pursuant to Section 129 of the Companies Act, 1965, be
and is hereby re-appointed as a Director of the Company to hold
office until the conclusion of the next Annual General Meeting."
Resolution 6

(6.2) "That YBhg Tan Sri Dato' Hanafiah Hussain who retires
pursuant to Section 129 of the Companies Act, 1965, be and is
hereby re-appointed as a Director of the Company to hold office
until the conclusion of the next Annual General Meeting."
Resolution 7

(6.3) Authority to allot shares pursuant to the Employees' Share
Option Scheme.

"That pursuant to the Employees' Share Option Scheme (ESOS) of
Asia Pacific Land Berhad which was approved by an Ordinary
Resolution at the Extraordinary General Meeting of the Company
held on 28 June 2001, approval be and is hereby given to the
Directors pursuant to Section 132D of the Companies Act, 1965 to
allot and issue such number of new ordinary shares of RM1.00
each in the capital of the Company from time to time in
accordance with the Bye-Laws of the ESOS." Resolution 8

(7) To transact any other business of which due notice shall
have been received.

By Order of the Board
MDM OH LEEN MAY (MAICSA NO. 0731489)
MDM CHAN KAM LYE (MAICSA NO. 7009907)
Company Secretaries
7 June 2004

NOTES:

(1) A proxy may but need not be a member of the Company and the
provisions of Section 149(1)(b) of the Companies Act, 1965 ("the
Act") shall not apply to the Company.

(2) To be valid, the proxy form must be duly completed and
deposited at the Registered Office of the Company at 2nd Floor,
Marina Terrace Sports Complex, Jalan Low Yat, 11100 Batu
Ferringhi, Penang not later than 11.00 a.m. on 27 June 2004.

(3) A member shall be entitled to appoint more than one (1)
proxy to attend and vote at the same meeting provided that the
provisions of Section 149(1)(c) of the Act are complied with.

(4) Where a member is an authorized nominee as defined under the
Securities Industry (Central Depositories) Act, 1991, it may
appoint at least one (1) proxy in respect of each securities
account it holds with ordinary shares of the Company standing to
the credit of the said securities account.

(5) Where a member appoints more than one (1) proxy, the
appointment shall be invalid unless he specifies the proportions
of his holdings to be represented by each proxy.

(6) If the appointor is a corporation the proxy form must be
executed either under its common seal or under the hand of an
officer or attorney duly authorized.

EXPLANATORY NOTES ACCOMPANYING NOTICE OF MEETING

(1) Explanatory Notes on Items 6.1 and 6.2 of the Agenda

Under Section 129 of the Act, a director of a public company who
is of or over the age of 70 is not eligible to be re-appointed
as a director upon the expiry of his term of office. However, if
his re-appointment is approved by a majority of not less than
three-fourths of such members being entitled to vote at the
annual general meeting in which his term of office expires, he
shall then be authorized to continue in office for another term
until the conclusion of the next Annual General Meeting.

Tan Sri Datuk Seri (Dr) Chong Hon Nyan, aged 80 and Tan Sri
Dato' Hanafiah Hussain, aged 77 who are retiring pursuant to
Section 129 of the Act would like to continue to offer their
services as Independent Non-Executive Directors and Board
Committee Members and, thus, offer themselves for re-appointment
to the Board of AP Land at the forthcoming Annual General
Meeting.

(2) Explanatory Note on Item 6.3 of the Agenda

The Ordinary Resolution proposed under Item 6.3, if passed, will
empower the Directors to issue shares in the Company upon
exercise of the ESOS options by eligible employees pursuant to
the ESOS that was approved at the Extraordinary General Meeting
of the Company held on 28 June 2001.


ASIA PACIFIC: Issues Notice On EGM
----------------------------------
Notice is hereby given that an Extraordinary General Meeting of
Asia Pacific Land Berhad will be held immediately following the
conclusion or adjournment (as the case may be) of the 43rd
Annual General Meeting of the Company to be held at the Miami
Hall, Ferringhi Beach Hotel, Jalan Low Yat, 11100 Batu
Ferringhi, Penang on Tuesday, 29 June 2004 at 11.00 a.m. or any
adjournment thereof for the purpose of considering and, if
thought fit, to pass the following resolutions:

ORDINARY RESOLUTION 1

PROPOSED SHARE BUY BACK

"That, subject to compliance with Section 67A of the Companies
Act, 1965, (as may be amended, modified or re-enacted from time
to time) all other prevailing laws, rules and regulations,
orders, guidelines and requirements issued and/or amended from
time to time by the relevant authorities.

The Company be and is hereby authorized, to the fullest extent
permitted by law, to purchase such amount of the ordinary shares
of RM1.00 each in the Company as may be determined by the
Directors of the Company from time to time through the Bursa
Malaysia.

Upon such terms and conditions as the Directors may deem fit and
expedient in the interest of the Company provided that the
aggregate number of shares so purchased does not exceed thirty
nine million (39,000,000) ordinary shares of RM1.00 each.

Representing five point four-nine per centum (5.49percent) of
the issued and paid-up share capital of the Company of
RM710,341,402 comprising 710,341,402 ordinary shares of RM1.00
each as of 27 May 2004 (Proposed Share Buy Back) and that an
amount not exceeding the Company's share premium account at the
time of the purchase(s) will be allocated by the Company for the
Proposed Share Buy Back;

That the Directors of the Company be and are hereby authorized
to cancel the shares so purchased (or part thereof) or to retain
the shares so purchased (or part thereof) as treasury shares and
where the shares so purchased are to be retained as treasury
shares.

The Directors may distribute the treasury shares as share
dividends to shareholders and/or resell the treasury shares
through the Bursa Malaysia and/or cancel the treasury shares, as
the Directors deem fit;

And that the authority conferred by this resolution will
commence immediately upon the passing of this resolution and
will, subject to the renewal thereat, expire at the conclusion
of the next Annual General Meeting of the Company or the
expiration of the period within which the next Annual General
Meeting after that date is required by law to be held (unless
earlier revoked or varied by the ordinary resolution of the
shareholders of the Company in a general meeting), but not so as
to prejudice the completion of the purchase(s) by the Company or
any person before the aforesaid expiry date.

And, in any event, in accordance with the provisions of the
Companies Act, 1965, the requirements and/or guidelines issued
by the Bursa Malaysia or any other relevant governmental and/or
regulatory authorities.

And that authority be and is hereby given unconditionally and
generally to the Directors of the Company to take all such steps
as are necessary or expedient (including without limitation, the
opening and maintaining of the central depository account(s)
under the Securities Industry (Central Depositories) Act, 1991.

And the entering into of all other agreements, arrangements, and
guarantees with any party or parties) to implement, finalize and
give full effect to the aforesaid Proposed Share Buy Back with
full powers to assent to any conditions, modifications,
revaluations, variations and/or amendments (if any) as may be
imposed by the relevant authorities.

And to do all such acts and things thereafter as the said
Directors may deem fit and expedient in the best interests of
the Company in accordance with the Companies Act, 1965, the
provisions of the Memorandum and Articles of Association of the
Company, the requirements and/or guidelines of the Bursa
Malaysia and all other relevant governmental and/or regulatory
authorities."

ORDINARY RESOLUTION 2

PROPOSED SHAREHOLDERS' MANDATE FOR RECURRENT RELATED PARTY
TRANSACTIONS OF A REVENUE OR TRADING NATURE

"That, subject always to the Bursa Malaysia Listing
Requirements, approval be and is hereby given for the Company
and its subsidiaries (AP Land Group) to enter into Recurrent
Related Party Transactions of a revenue or trading nature which
are necessary for the day-to-day operations of the AP Land Group
involving the interests of Directors, Major Shareholders or
persons connected with the Directors and/or major shareholders
of the Company and/or its subsidiaries (Related Parties), as
specified in Section 2.5 (b)(i) and 2.5 (b)(ii) of the Circular
to Shareholders dated 7 June 2004 provided that:

(i) The Recurrent Related Party Transactions are carried out in
the ordinary course of business or incidental thereto on normal
commercial terms which are not more favourable to the Related
Parties than those generally available to the public and are not
to the detriment of the minority shareholders of the Company;
and

(ii) Disclosure is made in the annual report of the breakdown of
the aggregate value of Recurrent Related Party Transactions
during the financial year, among others, based on the type of
Recurrent Related Party Transactions made; and the names of the
Related Parties involved in each type of the Recurrent Related
Party Transactions and their relationship with the Company.

And that authority conferred by this resolution will commence
immediately upon the passing of this Ordinary Resolution until:

(i) The conclusion of the next Annual General Meeting of the
Company, at which time it will lapse, unless by a resolution
passed at a general meeting, authority is renewed;

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

(iii) Revoked or varied by resolution passed by the shareholders
in general meeting, whichever is the earlier.

And that the Directors of the Company be and are hereby
authorized to complete and do all such acts and things
(including executing all such documents as may be required) as
they may consider expedient or necessary to give effect to the
Proposed Shareholders' Mandate."

By Order of the Board
Mdm Oh Leen May (MAICSA No. 0731489)
Mdm Chan Kam Lye (MAICSA No. 7009907)
Company Secretaries
7 June 2004

Notes:

(1) A proxy may but need not be a member of the Company and the
provisions of Section 149(1)(b) of the Companies Act, 1965 (the
Act) shall not apply to the Company.

(2) To be valid, the proxy form must be duly completed and
deposited at the Registered Office of the Company at 2nd Floor,
Marina Terrace Sports Complex, Jalan Low Yat, 11100 Batu
Ferringhi, Penang not less than 48 hours before the time for
holding the meeting.

(3) A member shall be entitled to appoint more than one (1)
proxy to attend and vote at the same meeting provided that the
provisions of Section 149(1)(c) of the Act are complied with.

(4) Where a member is an authorized nominee as defined under the
Securities Industry (Central Depositories) Act, 1991, it may
appoint at least one (1) proxy in respect of each securities
account it holds with ordinary shares of the Company standing to
the credit of the said securities account.

(5) Where a member appoints more than one (1) proxy, the
appointment shall be invalid unless he specifies the proportions
of his holdings to be represented by each proxy.

(6) If the appointor is a corporation the proxy form must be
executed either under its common seal or under the hand of an
officer or attorney duly authorized.


BOUSTEAD HOLDINGS: Releases Update On Proposed Bond Issuance
------------------------------------------------------------
Boustead Holdings Berhad disclosed to Bursa Malaysia Securities
Berhad its:

- Proposed Issuance of Bank Guaranteed Redeemable Convertible
Bonds of up to RM100 Million (Proposed RCB); and

- Proposed Issuance of Bank Guaranteed Bonds Comprising Serial
Bonds of RM250 Million (Proposed Serial Bonds).

With reference to the company's announcement dated 10 December
2003, Aseambankers Malaysia Berhad (Aseambankers), on behalf of
the Board of Directors of Boustead, is pleased to announce that
the Securities Commission (SC) had, vide its letter dated 3 June
2004 approved the Proposed RCB in accordance with Section 32(5)
of the Securities Commission Act 1993.

In the same letter, approval has also been granted for the
Proposed RCB under the Foreign Investment Committee's Guidelines
for the Acquisition of Assets, Mergers and Take-Overs 1974.

The SC's approval above is subject to the following terms and
conditions:

(1) Terms

Issue of the Proposed RCB based on the principal terms and
conditions submitted to the SC.

(2) Conditions

(2.1) Aseambankers and Boustead are to obtain SC's prior
approval should there be any change to the terms and conditions
of the Proposed RCB;

(2.2) Prior to the issue of the Proposed RCB, Aseambankers is
required to submit the following information/documents to the
SC:

(i) Borang FMF/JPB (Facility Maintenance File);

(ii) A certified true copy of the executed trust deed;

(iii) The final rating and rating report for the Proposed RCB;

(iv) Names of subscribers or investors for the Proposed RCB
including the amount subscribed, subscription price and yield to
maturity, during the initial placement of the Proposed RCB; and

(v) A hard copy and diskette [in PDF format, Arial font, font
size 11, margin (top, down, right, left) of 1.25" and single
spacing] of the complete Principal Terms and Conditions;

(2.3) Aseambankers is required to ensure that all relevant
parties are fully informed of the selling restrictions on the
Proposed RCB, including but not limited to, announcing the said
information clearly on the Sistem Penyebaran dan Maklumat Bon
(Bonds Information Dissemination System or BIDS).

(2.4) Aseambankers to fully disclose to all prospective
investors and relevant parties the following conflict of
interest:

(i) The relationship between Malayan Banking Berhad (Maybank)
and Aseambankers and that proceeds from the Proposed RCB will be
used to refinance part of the outstanding borrowings granted by
Maybank to Boustead and its subsidiaries and associate
companies;

(ii) The relationship between Maybank and Mayban Trustees Berhad
(MTB), and the conflict of interest with regard to the
appointment of MTB as the trustee for the Proposed RCB; and

(iii) All other potential conflict of interest arising from the
Proposed RCB together with relevant mitigating measures.
Aseambankers is to also inform all prospective investors that
the Board of Directors of Boustead is fully informed of and
aware of the conflict of interest situations and is agreeable to
proceed with the present arrangement;

(2.5) Aseambankers and Boustead to fully comply with all the
relevant requirements of the Policies and Guidelines on
Issue/Offer of Securities (Issues Guidelines) with regard to the
implementation of the issuance of the Proposed RCB;

(2.6) Upon completion of the issuance of the Proposed RCB,
Aseambankers and Boustead to confirm to the SC that Boustead has
complied with condition 2.5 above and other relevant
requirements as stipulated in the Issues Guidelines;

(2.7) Boustead to maintain at least 51 percent of its enlarged
share capital to be held by Bumiputera; and

(2.8) Aseambankers/Boustead will inform the SC when the Proposed
RCB is completed.

As announced on 2 April 2004, the Proposed RCB has been approved
by the shareholders of Boustead at the extraordinary general
meeting which was held on the same date, whereas the approval of
the shareholders of Boustead is not required for the Proposed
Serial Bonds. The SC's approval for the Proposed Serial Bonds
was obtained on 18 February 2004.


BOUSTEAD HOLDINGS: To List Additional 164,000 Ordinary Shares
-------------------------------------------------------------
Boustead Holdings Berhad disclosed to Bursa Malaysia Securities
Berhad that the issuance of additional 164,000 new ordinary
shares of RM0.50 each issued pursuant to the aforesaid Scheme
will be granted listing and quotation effective from 9:00 a.m.,
Monday, 7 June 2004.


GADANG HOLDINGS: BMSB Grants Listing Of 1,000 Ordinary Shares
-------------------------------------------------------------
Gadang Holdings Berhad, in a notice submitted to Bursa Malaysia
Securities Berhad (BMSB) announced that additional 1,000 new
ordinary shares of RM1.00 each issued pursuant to the aforesaid
Scheme will be granted listing and quotation effective 9:00
a.m., Wednesday, 9 June 2004.


JIN LIN: Issues Extension Application Update
--------------------------------------------
Jin Lin Wood Industries Berhad disclosed to Bursa Malaysia
Securities Berhad announced on June 2, 2004, it had on June 1,
2004, through its solicitors, filed an application for an
extension of time in relation to the Restraining Order under
Section 176(10) of the Companies Act 1965 which expired on June
2, 2004.

The outcome of the Court's decision will be announced in due
course.


KSU HOLDINGS: Court Appoints Receiver and Manager
-------------------------------------------------
KSU Holdings Berhad disclosed to Bursa Malaysia Securities
Berhad that it has been advised by solicitors acting for the
company and a majority of the directors that the High Court of
Malaya at Kuala Lumpur (Commercial Division) made an order dated
3 June 2004 in respect of Suit No. D2-22-1592-2003.

Pursuant to the Order, Mr. Onn Kien Hoe of Messrs Horwath -
Kuala Lumpur Office of Level 16, Tower C, Megan Avenue II, 12,
Jalan Yap Kwan Seng, 50450 Kuala Lumpur has been appointed
forthwith without security to act as the Receiver and Manager of
KSU Holdings Berhad in place of Mr. Rabindra Singh a/l Kaher
Singh of Messrs Rabin & Associates.

Under the application made to the Court, the Receiver and
Manager is to be vested with all the statutory powers of a court
appointed Receiver and Manager including but not limited to:

(1) The power to collect the debts of the Company and other
monies of the Company;

(2) The power to deal with any court actions filed by or against
the Company including but not limited to entering into any
compromise or settlement with relation thereto;

(3) The power to bring or defend any action or other legal
proceeding in the name and on behalf of the Company;

(4) The power to deal with the assets of the Company;

(5) The power to appoint himself as the Company's nominee on the
board of directors of subsidiary or related companies;

(6) The power to appoint himself as corporate representative of
the Company to attend all meetings of companies whose shares are
held by the Company;

(7) The power to inspect all books, accounts, registers,
documents and papers of the Company wherever they may be kept
and whoever they may be kept by;

(8) The power to inspect the audit files of the auditors of the
Company;

(9) The power to investigate the affairs of the Company and to
issue a report or report arising thereon to the Court;

(10) The power to dispose of the assets of the Company
considered superfluous to the current operations of the Company
if such disposal is considered necessary in order to raise funds
to meet the expenses of the Company;

(11) The power to sell immovable and movable property and things
in action of the Company by public auction, public tender or
private contract with the power to transfer the whole thereof to
any person or company or to sell the same in parcels;

(12) To do all acts and execute in the name and on behalf of the
company all deeds, receipts and other documents and for that
purpose use when necessary the Company's seal;

(13) The power to appoint counsel and other professionals if
necessary for the discharge of the duties of the Receiver and
Manager;

(14) The power to do all that is necessary to run the operations
and business of the Company;

(15) The power to do all that is necessary to preserve the
assets of the Company; and

(16) The power to seek the directions of the Court, and where
necessary to seek an extension of powers from the Court.

And it is further ordered that an injunction be granted
restraining the Defendants by themselves or by their servants
and/or agents from selling, charging or in any way whatsoever,
dealing (within the meaning of dealing in the National Land Code
1965) with the following land held under Grant No. 5343 situated
at Lot 39, Mukim Berenang, District of Ulu Langat, Selangor
until disposal of the action filed herein or until further
order.

And it is further ordered that the ex-parte Order dated 15th day
of October 2003 appointing a Receiver and Manager over the 1st
Defendant be set aside with costs in the cause and it is lastly
ordered that the Plaintiff's inter parte application be allowed
with a variation that Mr Onn Kien Hoe be appointed to act as a
Receiver and Manager of the Company [Enclosure 6], the 1st
Defendant's application [Enclosure 19] and the 2nd Defendant's
application [Enclosure 22] be allowed with costs in the cause.

The Order is pending approval by solicitors for parties to the
action and thereafter filing and extraction of a sealed copy
from Court.


LIEN HOE: Issues AGM Notice
---------------------------
Notice is hereby given that the 34th Annual General Meeting of
the members of Lien Hoe Corporation Berhad will be held at
Laksamana Ballroom, Hotel Armada, Lorong Utara C, Section 52,
46200 Petaling Jaya, Selangor Darul Ehsan on Monday, June 28,
2004 at 10:30 a.m. for the purpose of transacting the following
businesses:

AS ORDINARY BUSINESS

(1) To receive and adopt the Audited Financial Statements of the
Company for the financial year ended 31 December 2003 and the
Directors' and Auditors' Reports thereon (Resolution 1)

(2) To approve the payment of Directors' Fees (Resolution 2)

(3) To re-elect the following Directors who retire in accordance
with Article 84 of the Company's Articles of Association:

- Mr. Cheong Marn Seng, Allen (Resolution 3)
- Dato' Yaacob bin Md Amin (Resolution 4)

(4) To consider the re-appointment of Tun Dato' Seri Abdul Hamid
bin Omar as Director of the Company pursuant to Section 129 (6)
of the Companies Act, 1965. (Resolution 5)

(5) To re-appoint Messrs Ernst & Young as Auditors of the
Company, to hold office until the conclusion of the next Annual
General Meeting of the Company, at a remuneration to be
determined by the Directors. (Resolution 6)

AS SPECIAL BUSINESS

To consider and if thought fit, pass the following Resolution:-

(6) That subject to the provision of Section 132D of the
Companies Act, 1965 and approvals from the Bursa Malaysia
Securities Berhad and other relevant governmental/regulatory
authorities where such approvals shall be necessary, authority
be and is hereby given to the Directors of the Company to issue
and allot shares in the Company from time to time and upon such
terms and conditions and for such purposes as the Directors may
deem fit provided that the aggregate numbers of shares issued
pursuant to this resolution does not exceed 10 percent of the
issued capital of the Company for the time being and such
authority shall continue in force until the next Annual General
Meeting of the Company."

(Resolution 7)

(7) To transact any other business of the Company for which due
notice shall be given.

BY ORDER OF THE BOARD
LEE SOOK PENG (MAICSA 0810465)
Secretary
Petaling Jaya, Selangor Darul Ehsan
June 4, 2004

NOTES:

(1) A member of the Company entitled to attend and vote at this
meeting is entitled to appoint a proxy to attend and vote
instead of him. A proxy need not be a member of the Company.

(2) The instrument appointing a proxy must be deposited at the
Registered Office at 18th Floor, Menara Lien Hoe, No. 8
Persiaran Tropicana, Tropicana Golf & Country Resort, 47410
Petaling Jaya, Selangor Darul Ehsan, during normal office hours,
not later than 48 hours before the time of holding the meeting
and at any adjournment thereof.

(3) Where the Proxy Form is executed by a corporation, it must
be under its common seal or under the hand of an officer or
attorney duly authorized.

EXPLANATORY NOTES ON SPECIAL BUSINESS

Resolution 7, if passed will empower the Directors of the
Company to allot and issue new ordinary shares up to an amount
not exceeding 10% of the issued share capital of the Company for
such purposes as the Directors consider would be in the interest
of the Company. This authority will commence from the date of
this Annual General Meeting and unless revoked or varied by the
Company at a general meeting, will expire at the next Annual
General Meeting.


MALAYSIA MINING: Receives Approval For Name Change
--------------------------------------------------
The Board of Directors of Malaysia Mining Corporation is pleased
to announce that it has received the Certificate of Change of
Name dated 4 June 2004 from the Companies Commission of Malaysia
for the change from Malaysia Mining Corporation Berhad to MMC
Corporation Berhad.

This announcement is dated 4 June 2004.


MENTIGA CORPORATION: Details AGM Agenda
---------------------------------------
Notice is hereby given that the Thirty Third Annual General
Meeting of the Company will be held at Junior Ballroom 2, Level
2, Hotel Nikko, 165 Jalan Ampang, 50450 Kuala Lumpur on Tuesday,
29 June 2004 at 2.30 p.m. for the following purposes:

AGENDA

(1) To receive and adopt the Statutory Financial Statements for
the year ended 31 December 2003 and the Reports of the Directors
and Auditors thereon. (Resolution 1)

(2) To re-elect the following Directors retiring in accordance
with Article 80 of the Company's Articles of Association and
being eligible, offer themselves for re-election:

(i) YH Dato' Haji Mohd Ali Hanafiah Bin Sh Ruji  (Resolution 2)

(ii) Y.Bhg. Dato' Mohd Ghazali Bin Mohd Khalid (Resolution 3)

(3) To appoint Auditors and to authorize the Directors to fix
their remuneration.

Notice of Nomination pursuant to Section 172(11) of the
Companies Act, 1965, a copy of which is set out on page 61 has
been received by the Company for the nomination of Messrs
Ash'ariCheong, who has given their consent to act, for
appointment as Auditors and of the intention to propose the
following Ordinary Resolution:

"That Messrs Ash'ariCheong be and are hereby appointed as
Auditors of the Company in place of the retiring auditors,
Messrs PricewaterhouseCoopers, to hold office until the
conclusion of the next Annual General Meeting at a remuneration
to be determined by the Directors." (Resolution 4)

(4) To transact any other business for which due notice have
been given.

BY ORDER OF THE BOARD
YEAP KOK LEONG
(MAICSA NO. 0862549)
Company Secretary
7 June 2004
Kuala Lumpur

(1) A member of the Company entitled to attend and vote at this
meeting is entitled to appoint a proxy and vote in his stead. A
proxy may but need not be a member of the Company.

(2) Proxy Form duly completed must be deposited at the
Registered Office of the Company at 20th Floor, East Wing, Plaza
Permata, Jalan Kampar Off Jalan Tun Razak, 50400 Kuala Lumpur,
not less than 48 hours before the time fixed for holding the
meeting.


POS MALAYSIA: Issues Additional Shares For Listing
--------------------------------------------------
In a disclosure to Bursa Malaysia Securities Berhad, POS
Malaysia & Services Holdings Berhad announced the issuance of
additional:

(i) 211,000 new ordinary shares of RM1.00 each arising pursuant
to the conversion of RM379,800 nominal value 5-year, 8 percent
irredeemable convertible unsecured loan stocks 1999/2004 (LB)
into 211,000 new ordinary shares.

(ii) 396,000 new ordinary shares of RM1.00 each issued pursuant
to the Employee Share Option Scheme.

Will be granted listing and quotation effective 9:00 a.m.,
Monday, June 7, 2004.


SIME DARBY: Issues Additional 16,000 Ordinary Shares For Listing
----------------------------------------------------------------
Sime Darby Berhad disclosed to Bursa Malaysia Securities Berhad
the issuance of additional 16,000 new ordinary shares of RM0.50
each issued pursuant to the Employee's Share Option Scheme will
be granted listing and quotation effective 9:00 a.m., Monday,
June 7, 2004.


SUGAR BUN: Clarifies Item On FS
-------------------------------
The Board of Sugar Bun Corporation Berhad disclosed to Bursa
Malaysia Securities Berhad that the audited account loss after
tax and minority interest for the financial year ended 31st
January 2004 is RM4.874 million as compared to the announced
unaudited loss after tax and minority interest of RM3.310
million.

The above results represented a deviation of RM1.564 million
from the audited results due to the adjustments made following
the audit of the account as follows:

RM'000

(1) Written off of fixed assets for certain closed down outlets
878

(2) Provision for doubtful debts 760

(3) Over provision of taxation (471)

(4) Other miscellaneous audit adjustments 397

The Board has reviewed the above adjustments as recommended by
the Auditors and to be prudent, agreed that the adjustments be
made accordingly.

This announcement is dated 3 June 2004.


SUNWAY CONSTRUCTION: BMSB To Grant Listing Of 204,400 Shares
------------------------------------------------------------
Sunway Construction Berhad disclosed to Bursa Malaysia
Securities Berhad (BMSB) that its additional 204,400 new
ordinary shares of RM1.00 each issued pursuant to the Emloyees'
Share Option Scheme will be granted listing and quotation
effective from 9:00 a.m., Monday, June 7, 2004.


SUNWAY HOLDINGS: Issues Update On Warrants
------------------------------------------
Sunway Holdings Inc. Berhad (SUNINC) disclosed to Bursa Malaysia
Securities Berhad that:

(i) SUNINC's Warrants will expire at 5.00 p.m., on Tuesday, 29
June 2004.

(ii) Trading in the SUNINC's Warrants will be suspended
effective 9:00 a.m., Monday, June 14, 2004 in order to
facilitate the exercise of the Warrants.

(iii) SUNINC's Warrants will be removed from the Official List
of the Exchange effective 9:00 a.m., Wednesday, June 30, 2004.

Your attention is drawn to SUNINC's notice to holders of the
Warrants dated May 28, 2004.


TANJONG PUBLIC: In Closed Period Until Submission Of 1Q Results
---------------------------------------------------------------
In a disclosure to Bursa Malaysia Securities Berhad, Tanjong
Public Limited Co. announced that it is in a Closed Period
pending the announcement of its results for the first quarter
ended April 30, 2004.

Tanjong has been notified pursuant to Paragraph 14.08(a) of the
Listing Requirements of Bursa Malaysia, by Lee Siew Lan, a
Principal Officer of the Company, of her intention to deal in
the securities of the Company during the Closed Period:

(1) Date of notification: June 1, 2004.

(2) Intention to dispose of 100,000 shares of 7.5 pence each on
the Bursa Malaysia.

(3) Current holdings of Tanjong shares: 101,000 shares of 7.5
pence each representing 0.0025 percent of the issued share
capital of Tanjong.


TANJONG PUBLIC: Issues Additional 6,000 Shares For Listing
----------------------------------------------------------
Tanjong Public Limited Co. disclosed to Bursa Malaysia
Securities Berhad that its additional 6,000 new ordinary shares
of 7.5 pence each issued pursuant to the Employee's Share Option
Scheme will be granted listing and quotation effective from 9:00
a.m., Monday, June 7, 2004.


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


MANILA ELECTRIC: Maturing Debts Cause Refund Delay
--------------------------------------------------
Because of a PhP4.4 billion debt due on the third week of this
month, Manila Electric Co. (Meralco) has to make adjustments in
the schedule of a refund due to large residential customers,
BusinessWorld reports citing Leo Mabale, the power distribution
firm's Refund Management Task Force head.

The original schedule for the refund of large residential
customers that use 600 kilowatt-hours or more based on their
April 2003 billing was supposed to be this month of June, but
due to cash flow problems, it can only implement the refund to
residential customers that use 510 kilowatt-hours as of their
April 2003 billing, Mr. Mabale said.

The adjustment in the scheduling has to be made in order to
service the refund, or Meralco may not be able to implement the
refunds at all.

Meralco is trying to speed up the refund by July and August so
that they will be able to follow the original schedule by
September.

Meralco has until the end of this year to service the third
phase, which is expected to cost PhP4.5 billion. As of April,
the company has refunded some PhP7 billion. If the refunds that
are currently being processed were included, the refunds would
hit PhP8 billion.


PHILIPPINE LONG: Projects PhP10.5B-Profit in 1H Through Smart
-------------------------------------------------------------
Philippine Long Distance Telephone Co. (PLDT) may be able to
post a first-half net income of PhP10.5 billion due to the
continued growth of its wireless subsidiary Smart Communications
Inc., BusinessWorld reports, citing PLDT Chairman Manuel V.
Pangilinan.

Smart's additional 1.1 million subscribers in the first quarter
have brought the number of PLDT Group subscribers to a total of
14.4 million. The use of mobile phones, especially during the
election period, has propped up PLDT's performance.

The introduction of lower denomination reloads (Pasa Load and
Smart Load) contributed to Smart's strong revenue growths. The
"Pasa Load" system allows the subscribers to pass on credits as
low as PhP2.00 to other Smart or Talk 'N Text subscribers while
the Smart Load scheme enables a subscriber to reload for as low
as PhP30.

Mr. Pangilinan has earlier said that Smart's revenues now
account for about 55 percent of PLDT Group's total revenues.
Thus, he said, PLDT parent First Pacific Corp. is now
considering making Smart the parent firm of PLDT.

PLDT, with its 16 million mobile phone subscribers to date,
accounts for about 58% of the mobile phone market through
wholly-owned unit Smart and 45%-owned Pilipino Telephone Corp.
(Piltel), while rival Globe Telecom Inc. commands 40 percent.


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


BUNGA BERSATU: Creditors Must Submit Claims by July 31
------------------------------------------------------
Notice is hereby given that the creditors of Bunga Bersatu
Private Limited, which is being wound up voluntarily, are
required on or before July 31, 2004 to send in their names and
addresses, with particulars of their debts or claims and the
names and addresses of their solicitors (if any) to the
undersigned, the Liquidator of the said company and, if so
required by notice in writing by the said liquidator are, by
their solicitors or personally, to come in and prove their debts
or claims at such time and place as shall be specified in such
notice, or in default thereof they will be excluded from the
benefit of any distribution made before such debts are proved.

TAN CHOON CHYE
MRS LOW nee TAN LENG FONG
TAN SHOU CHIEH
Liquidators.
c/o Singapore Secretarial Services Co. (Pte)
c/o 6001 Beach Road
#12-01 & #12-11 Golden Mile Tower
Singapore 199589

This Singapore Government Gazette announcement is dated 4 June
2004.


SIN TECH: Issues Winding up Order Notice
----------------------------------------
Sin Tech Electrical Contractor Pte Ltd issued a notice of
winding up order made on May 28, 2004.

Name and address of Liquidator: The Official Receiver
Insolvency and Public Trustee's Office
45 Maxwell Road #05-11/#06-11
The URA Centre (East Wing)
Singapore 069118

LOW & ROBERT YU
Solicitors for the Petitioner.
CHANGI-LIGHT PTE LTD

This Singapore Government Gazette announcement is dated June 4,
2004.


STRONG UNION: Creditors Must Submit Claims by July 31
------------------------------------------------------
Notice is hereby given that the creditors of Strong Union Pte
Ltd, which is being wound up voluntarily, are required on or
before July 31, 2004 to send in their names and addresses, with
particulars of their debts or claims and the names and addresses
of their solicitors (if any) to the undersigned, the Liquidator
of the said company and, if so required by notice in writing by
the said liquidator are, by their solicitors or personally, to
come in and prove their debts or claims at such time and place
as shall be specified in such notice, or in default thereof they
will be excluded from the benefit of any distribution made
before such debts are proved.

TAN CHOON CHYE
MRS LOW nee TAN LENG FONG
TAN SHOU CHIEH
Liquidators.
c/o Singapore Secretarial Services Co. (Pte)
c/o 6001 Beach Road
#12-01 & #12-11 Golden Mile Tower
Singapore 199589

This Singapore Government Gazette announcement is dated 4 June
2004.


SUK-A: Releases Winding up Order Notice
---------------------------------------
Suk-A Engineering Pte Ltd issued a notice of winding up order
made on May 14, 2004.

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

Messrs TAN KOK QUAN PARTNERSHIP
Solicitors for the Petitioner.

This Singapore Government Gazette announcement is dated June 4,
2004.


WUTHELAM INTERNATIONAL: Creditors Must Submit Claims by July 5
--------------------------------------------------------------
Notice is hereby given that the creditors of Wuthelam
International Holdings Private Limited, which is being wound up
voluntarily, are required on or before July 5, 2004 to send in
their names and addresses, with particulars of their debts or
claims and the names and addresses of their solicitors (if any)
to the undersigned, the Liquidator of the said company and, if
so required by notice in writing by the said liquidator are, by
their solicitors or personally, to come in and prove their debts
or claims at such time and place as shall be specified in such
notice, or in default thereof they will be excluded from the
benefit of any distribution made before such debts are proved.

SIM GAIK HEOK
Liquidator.
c/o 1 Kim Seng Promenade
#10-06Great World City East Tower
Singapore 237994

This Singapore Government Gazette announcement is dated 4 June
2004.


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


NAKORNTHAI STRIP: Appoints Don Bhasavanich As President
-------------------------------------------------------
Maharaj Planner Company Limited, in its capacity as the plan
Administrator of Nakornthai Strip Mill PCL, Convened the Meeting
of the Creditors' Committee No. 2/2004 on June 4, 2004, at 4:30
p.m. The Meeting acknowledged the resignation of Mr. Sawasdi
Horrungruang, President, and appointed Mr. Don Bhasavanich to be
the President effective on June 1, 2004.

Please be informed and disseminate the above accordingly.

Yours Sincerely,
(Mr. Sawasdi Horrungruang)
Director
Maharaj Planner Company Limited
as the plan Administrator of
Nakornthai Strip Mill PCL


THAI ELECTRONIC: Releases Results Of Sales of Shares
----------------------------------------------------
Thai Electronic Industry Co. Ltd. disclosed to the Stock
Exchange of Thailand a Report on the Results of Sale of Shares
on June 3, 2004.

(1) Information relating to the share offering

Category of shares offered:  ordinary shares
Number of shares offered: 109,600,716

Offered to Existing shareholders*
Price per share: 1.00 Baht
Subscription and payment period: 20 May 2004

(2) Results of the sale of shares :

[] totally sold out
[/] partly sold out, with 29,479,354 shares remaining.

The company will allot the remaining shares to the interesting
shareholders and interesting persons.

(3) Details of the sale

           Thai investors        Foreign investors
           Juristic    Nutural   Juristic   Natural        Total
persons     persons    persons    persons

Number of  -           71         -          1              72
persons

Number of  -        80,118,362     -      3,000       80,121,362
shares
subscribed

Percentage  0          73         0       0.0027        73.0027
of Total
shares
offered
for sale

(4) Amount of money received from the sale of shares

Total amount: 80,121,362   Baht

Less expense (specify)- Baht

Net amount received: 80,121,362   Baht

The company hereby certifies that the information contained in
this report is true and complete in all respects.

Authorized director
(Duangtip Eamrungroj , Teerapol Juthapornpong)

Remark*
This increase of shares capital was made due to the
rehabilitation process under the Bankruptcy Law. Hence, no
resolution of the shareholders is required. The existing
shareholders means the shareholder on the 19 April 2004 which
was the date that the Central Bankruptcy Court granted an order
for approving the capital increasing.


* BOND PRICING: For the Week 7 June to 11 June 2004
---------------------------------------------------

Issuer                             Coupon   Maturity  Price
------                             ------   --------  -----



AUSTRALIA
---------

Advantage Group                      10.000%     4/15/06    1
Amcom Telecommunications Ltd         10.000%    10/28/07    2
APN News & Media Ltd                  7.250%    10/31/08    4
Australian Food & Fibre Ltd.          4.000%     12/4/08   10
Bendigo Bank Ltd                      8.000%     5/29/49   10
BIL Finance Ltd                       8.000%    10/15/07    9
BIL Finance Ltd                       8.250%    10/15/04   10
BIL Finance Ltd                       8.750%    10/15/04    9
BIL Finance Ltd                       8.750%    10/15/05    9
BIL Finance Ltd                       9.000%    10/15/04    9
BIL Finance Ltd                       9.250%    10/15/06    9
BIL Finance Ltd                      10.000%    10/15/04    9
Capital Properties NZ Ltd             8.500%     4/15/05    7
Capital Properties NZ Ltd             8.500%     4/15/07    8
Capital Properties NZ Ltd             8.500%     4/15/09    9
Citigold Corp.     12.000%   3/29/07    1
Consolidated Minerals Ltd            11.250%     3/31/05    1
Djerriwarrh Investments Ltd           7.500%     9/30/04    4
Evans & Tate Ltd                      8.250%    10/29/07    1
Fletcher Building Ltd                 7.800%     3/15/09    8
Fletcher Building Ltd                 7.900%    10/31/06    8
Fletcher Building Ltd                 8.300%    10/31/06    7
Fletcher Building Ltd                 8.600%     3/15/08    8
Fletcher Building Ltd                 8.750%     3/15/06    8
Fletcher Building Ltd                 8.850%     3/15/10    8
Fletcher Building Ltd                10.500%     4/30/05    7
Feltex Carpets Ltd                   10.250%     9/15/08    1
Fernz Corp Ltd                        8.560%    10/15/06    7
Futuris Corporation Ltd               7.000%    12/31/07    2
Gympie Gold Ltd                       8.500%     9/30/07    1
Hy-Fi Securities Ltd                  7.000%     8/15/08    8
Hy-Fi Securities Ltd                  8.750%     8/15/08   12
Hutchison Telecoms Australia          5.500%     7/12/07    1
Infrastructure and Utility         8.500%     9/15/13    8
New South Wales Treasury Corporation  0.500%     2/16/10   73
NPT Capital Ltd                       9.500%    11/30/04   10
Nuplex Industries Ltd                 9.300%     9/15/07    7
Powerco Ltd                           8.150%      9/1/07    7
Powerco Ltd                           8.400%     5/22/07    7
Queensland Treasury Corporation       0.500%     5/19/10   73
Richmond Ltd                         10.750%    12/15/04   11
Salomon Smith Barney Australia        4.250%      2/1/09    9
Sapphire Securities                   9.250%    12/20/06    9
Sky Network Television Ltd            9.300%    10/29/49    8
Strathfield Group Ltd                11.000%    12/31/05    1
Structural Systems Ltd               11.000%     6/30/07    1
Tower Finance Ltd                     8.750%    10/15/07    8
TrustPower Ltd                        8.300%     9/15/07    7
TrustPower Ltd                        8.500%     9/15/12    8
Vision Systems Ltd                    9.000%    12/15/08    2


CHINA & HONG KONG
-----------------

China Government Bond                  2.900%      5/24/32   62
China Government Bond                  2.600%      9/20/07   73
China Government Bond                  3.400%      4/17/23   74


KOREA
-----

Korea Electric Power Corporation       7.950%       4/1/96   55


MALAYSIA
--------

Asian Pac Holdings Bhd                 4.000%     12/22/05    1
Artwright Holdings Bhd                 5.500%      3/05/07    1
Arus Murni Corporation Bhd             0.500%      8/24/06    1
Berjaya Group Bhd                      5.000%     10/17/09    1
Berjaya Land Bhd                       5.000%     12/30/09    1
Berjaya Sports Toto Bhd                8.000%      8/04/12    4
Camerlin Group Bhd                     5.500%      7/15/07    1
Crescendo Corporation Bhd              3.000%      8/25/07    1
Crest Builder Holdings Bhd             1.000%      2/25/08    1
Crest Builder Holdings Bhd             3.000%      2/25/06    1
Dataprep Holdings Bhd                  4.000%       8/5/05    1
Dataprep Holdings Bhd                  4.000%       8/6/07    1
Denko Industrial Bhd                   5.000%      3/15/07    1
Eden Enterprises (M) Bhd               2.500%      12/2/07    1
Equine Capital Bhd                     3.000%      8/26/08    2
Fountain View Development Sdn Bhd      3.500%      11/3/06    5
Furqan Business Organization           2.000%     12/19/05    1
Gadang Holdings Bhd                    2.000%     12/24/08    1
Grand Central Enterprises Bhd          5.000%      2/17/05    1
Greatpac Holdings Bhd                  2.000%     12/11/08    2
Gula Perak Bhd                         6.000%      4/23/08    1
Halim Mazmin Bhd                       8.000%      6/30/04    3
Hong Leong Industries Bhd              4.000%      6/28/07    1
Hubline Bhd        4.000%      1/10/06    1
I-Bhd                                  5.000%      4/30/07    1
Insas Bhd                              8.000%      4/19/09    1
Integrax Bhd                           3.000%     12/24/05    1
Killinghall Bhd                        5.000%      4/13/09    1
Kretam Holdings Bhd                    1.000%      8/10/10    1
Kumpulan Emas Bhd                      7.000%     11/15/04    1
Kumpulan Jetson                        5.000%     11/28/12    1
Lebar Daun Bhd                     2.000%       1/6/07    2
LBS Bina Group Bhd                     4.000%     12/31/06    1
LBS Bina Group Bhd                     4.000%     12/31/07    1
LBS Bina Group Bhd                     4.000%     12/31/08    1
Malaysian Government                   6.850%      3/15/06   68
Media Prima Bhd                        2.000%      7/18/08    1
Mithril Bhd                            3.000%       4/5/12    1
Mithril Bhd                            8.000%       4/5/09    1
Mutiara Goodyear Development Bhd       2.500%      1/15/07    1
MWE Holdings                           5.500%      10/7/04    1
NAM Fatt Corporation Bhd               2.000%      6/24/11    1
Orlando Holdings Bhd                   3.000%      3/16/05    1
OSK Holdings Bhd                       3.500%       3/1/05    1
OSK Holdings Bhd                       6.000%       3/1/05    1
Pantai Holdings                        5.000%      3/28/07    1
Patimas Computer Bhd                   6.000%      2/19/06    1
Poh Kong Holdings                      3.000%      1/20/07    1
Prinsiptek Corporation Bhd             2.000%     11/20/06    1
Puncak Niaga Holdings Bhd              2.500%     11/20/16    1
POS Malaysia & Services Holdings Bhd   8.000%     11/26/04    1
Rashid Hussain Bhd                     0.500%     12/23/12    1
Rashid Hussain Bhd                     3.000%     12/23/12    1
Rhythm Consolidated Bhd                5.000%     12/17/08    1
Silver Bird Group Bhd                  1.000%      2/15/09    1
Southern Steel Bhd                     5.500%      7/31/08    2
Tanah Emas Corporation Bhd             2.000%      12/9/06    1
Talam Corporation Bhd                  7.000%      7/19/05    1
Talam Corporation Bhd                  7.000%      4/19/06    1
Tap Resources Bhd                      2.000%      6/29/06    1
Tenaga Nasional Bhd                    3.050%      5/10/09    1
Time Engineering Bhd                   2.000%     12/25/05    1
VTI Vintage Bhd                        4.000%      8/22/06    2
Wah Seong Corporation Bhd              3.000%      5/21/12    3
Yu Neh Huat Bhd                        3.000%       9/2/08    1

PHILIPPINES
-----------

Bacnotan Consolidated Industries, Inc.  5.500%      6/21/04  46

SINGAPORE
---------

CSC Holdings Ltd                       6.500%      4/27/05    1
Rabobank Singapore                     1.000%      1/15/13   69
Sengkang Mall Ltd                      4.880%      11/20/12   1
Tampines Assets Ltd                    5.625%      12/7/06    1
Tincel Ltd                             5.000%      6/13/11   1
Tincel Ltd                             7.400%      6/13/11   1




Tuesday's edition of the TCR-Asia Pacific delivers a list of
indicative prices for bond issues that reportedly trade well
below par.  Prices are obtained by TCR-AP editors from a
Variety of outside sources during the prior week we think are
reliable.  Those sources may not, however, be complete or
accurate.  The Tuesday Bond Pricing table is compiled on the
Saturday prior to publication.  Prices reported are not intended
to reflect actual trades.  Prices for actual trades are probably
different.  Our objective is to share information, not make
markets in publicly traded securities. Nothing in the TCR-AP
constitutes an offer Or solicitation to buy or sell any security
of any kind.  It is likely that some entity affiliated with a
TCR editor holds some position in the issuers' public debt and
equity securities about which we report.






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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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