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        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

             Monday, July 5, 2004, Vol. 7, No. 131

                            Headlines

A U S T R A L I A

AMP LIMITED: ATO Issues Statement Regarding Group Demerger
QANTAS AIRWAYS: Offers a Million Discount Seats
QANTAS AIRWAYS: Workers Launch Pay Claim


C H I N A  &  H O N G  K O N G

CHINA GAS: Announces Extension of Dispatch Circular
WORLD HIGHEST: Appoints Liquidators


I N D O N E S I A

LONDON SUMATRA: Trading Suspension Lifted
PERTAMINA: Awards Development Contracts
PERTAMINA: KPPU Reviews Tanker Sale
PERTAMINA: To Audit Alleged Mishandled Accounts Under Ex-Head
SEMEN GRESIK: JSX May Lift Suspension Soon


J A P A N

JAPAN AIRLINES: Launches Nagoya-Guangzhou Flights
HUIS TEN: Court OKs Rehab Plan
MITSUBISHI MOTORS: Clarifies 'Issuance of New Shares' Report
MITSUBISHI MOTORS: Former Executives Face Criminal Charges
MITSUBISHI MOTORS: Japan Sales Down 64.3% in June

NISSAN DIESEL: Recalls 177 Trucks
SOFTBANK CORPORATION: Denies Reported Interest In C&W Unit
UFJ HOLDINGS: Sovereign Asset Cuts Stake to 3.91%


K O R E A

HANARO TELECOM: Changes Corporate Name to Hanarotelecom
HYNIX SEMICONDUCTOR: Finalizing China JV With STMicro
KOOKMIN BANK: Denies Bidding For Investment Firms
KOOKMIN BANK: Posts 1H04 KRW169.1B Net Profit
SSANGYONG MOTOR: June Sales Up 3.3%


M A L A Y S I A

AKTIF LIFESTYLE: Releases Auditor's Report to Shareholders  
AKTIF LIFESTYLE: SC Approves Unit Disposal
AVENUE SECURITIES: Processes Finalization of Restructuring Plan
BERJAYA GROUP: Issues Update On Status Of Proposals
CSM CORPORATION: Issues Status of Financial Condition

DUOPHARMA BIOTECH: SC Grants Extension Of 45 Days Re Share Split
FABER GROUP: Updates Proposed Restructuring Scheme
FORESWOOD GROUP: Awaits SC Approval On Debt Restructuring
GENERAL SOIL: Submits Proposed Restructuring Scheme to SC
INTEGRATED RUBBER: Releases Status On Financial Condition

KEMAYAN CORPORATION: Awaits Necessary Documents Re Restructuring
KILANG PAPAN: Revises Proposed Restructuring Scheme
NALURI BERHAD: Releases Update on Proposals
NORTH BORNEO: Releases Status Of Financial Condition
OCEAN CAPITAL: No Changes In Status of Restructuring Plan

OLYMPIA INDUSTRIES: Issues Status Of Restructuring Scheme
PAN MALAYSIA: Updates Proposed Private Placement
PANCARAN IKRAB: Updates Status On Financial Condition
PANGLOBAL BERHAD: SC Extends Implementation of Proposals
PM SECURITIES: Awaits Approval Of Restructuring Scheme of AHB

SIN HENG: No Further Development On Restructuring Scheme
SRI HARTAMAS: Updates Status Of Financial Condition
SRIWANI HOLDINGS: Updates Alternative Restructuring Plan
SRIWANI HOLDINGS: Issues Development on Financial Condition
TALAM CORPORATION: SC Extends Time to Comply With Conditions

UNITED CHEMICAL: Proposed Restructuring Subject To Approval
WEMBLEY INDUSTRIES: Issues Update On Practice Note
WOO HING: Details Date of Announcements  


P H I L I P P I N E S

NATIONAL POWER: BOT Contract With Ormat Ends
PHILIPPINE LONG: Issues Clarification To News Article
PILIPINO TELEPHONE: Board Approves Capital Increase to PhP12.8B


S I N G A P O R E

AGB TELEVISION: Creditors Must Submit Claims on August 2
ASTRO CONSTRUCTION: Releases Notice Dividend Notice
ASV TECHNOLOGY: Issues Notice of Intended Dividend
CHARTERED SEMICONDUCTOR: Announces Director's Interests Change
CHUAN ENG: Winding Up Hearing Set July 16

INFORMATICS HOLDINGS: Shares Up 36% Despite Full-year Loss


T H A I L A N D


TANAYONG: SET Suspends Securities Trading

     -  -  -  -  -  -  -   

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


AMP LIMITED: ATO Issues Statement Regarding Group Demerger
----------------------------------------------------------
The Australian Taxation Office (ATO) issued a statement
regarding the AMP group demerger and how it affects Australian
resident shareholders as follows:

WHY SHOULD I BE CONCERNED ABOUT THE DEMERGER?

The demerger was a CGT event. As such it could result in a
capital gain or capital loss for shareholders - which means it
has tax consequences for shareholders.

WHAT HAPPENED UNDER THE DEMERGER?

When AMP demerged its UK operations in December 2003, it caused
HHG PLC (HHG) to issue new HHG shares to AMP shareholders, and
undertook a rights offer to raise additional capital.

The following events happened as part of the demerger and the
associated rights offer:

(i)   slightly less than 30% of the AMP shares that you held on
19 December 2003 were cancelled and you received a cancellation
entitlement of about $5.90 for each share cancelled

(ii)  your remaining AMP shares were then split so that you had
the same number of AMP shares after the demerger as before

(iii) you were issued with shares in HHG equal to the number of
AMP shares you owned before the demerger - the cancellation
entitlement was applied on your behalf as payment for these
shares

(iv)  under the AMP rights offer, you received one right for
each AMP share you held on 28 October 2003. You could either:

(v)   exercise the rights by making a payment of 77c per right -
the total amount you paid was then applied to acquire new AMP
shares at $3.87 per share

(vi)  not exercise the rights - in which case you received a
payment of 8.2c per right not exercised

(vii) if you owned AMP reset preferred securities, AMP redeemed
them on 14 January 2004 and you received a payment of $100 per
security plus a distribution payment.

CAN I CLAIM DEMERGER ROLLOVER RELIEF?

No. The way that AMP demerged meant that the demerger rollover
relief provisions do not apply to this demerger.

IS MY CANCELLATION ENTITLEMENT ASSESSABLE INCOME?

No. However, your cancellation entitlement forms part of the
capital proceeds which are used in calculating your capital gain
or capital loss on the cancellation of your AMP shares.

WHAT ARE THE TAX CONSEQUENCES IF I EXERCISED MY RIGHTS UNDER THE
AMP RIGHTS OFFER?

If you exercised your rights under the offer, you will have
received new AMP shares. For tax purposes you need to know:

(i)  the acquisition date of your new shares, and
(ii) the cost base of your new shares.

The acquisition date is the date you exercised the rights - that
is, the date you sent your payment to AMP.

The cost base of these shares is the amount you paid to exercise
the rights - that is, $0.77 per right multiplied by the number
of rights exercised, plus any incidental costs you incurred in
acquiring the shares.

This information is used to calculate your capital gain or
capital loss when you dispose of these shares.

WHAT ARE THE TAX CONSEQUENCES IF I DID NOT EXERCISE MY RIGHTS
UNDER THE OFFER?

If you did not exercise your rights under the offer, you
received a payment of 8.2c for each right you didn't exercise.

This payment is a capital gain and you must include it when
calculating your net capital gain for your 2004 tax return.

You may be entitled to use the CGT discount method (which allows
you to reduce your capital gain) to work out the amount of the
capital gain if you are:

(i)   an individual or trust (50% discount)
(ii)  a complying superannuation entity (33 1/3%)
(iii) a life insurance company with virtual pooled
superannuation trust (PST) assets (33 1/3%).

You are entitled to use the discount method for that part of the
payment you received for the rights attaching to shares that you
purchased before 9 December 2002 (12 months prior to the
demerger).

Companies other than some life insurance companies are not
entitled to use the discount method.

I REDEEMED MY RESET PREFERRED SECURITIES. WHAT ARE THE TAX
CONSEQUENCES OF THIS?

These securities were redeemed for their face value (of $100
each) plus the accrued distribution up to the date of
redemption.

You will need to include the distributions as `trust
distribution income' in your 2004 tax return.

Note: You received two distributions - one on 23 October 2003
and one on redemption.

If you paid:

(i)  $100 for the security - there are no capital gains or
capital loss tax consequences from the redemption

(ii) more or less than $100 for the security - you will need to
calculate whether you have made a capital gain or capital loss.
You must include any capital gain or capital loss you made on
redemption of your reset preferred securities when you calculate
your net capital gain or capital loss for your 2004 income tax
return.

What do I need to work out for capital gains tax purposes?

There are three amounts you need for capital gains tax purposes.
You need to know:

1) the capital gain or capital loss you made on the
cancellation of your AMP shares and/or AMP reset preferred
securities

2) the new cost base of your AMP shares and your new HHG shares

3) the tax consequences of the AMP rights offer - this means
you have to calculate:

   a) the cost base of the AMP shares you received if you took
up some or all of your rights, and/or

   b) the capital gain on the payment you received if you did
not take up all of your rights.

How do I work out these amounts?

There are two ways you can calculate your capital gains tax
consequences:

Use the AMP demerger calculator.

This has been designed to help AMP shareholders work out their
particular tax situation as a result of the demerger. It will
take you from 5 to 20 minutes to complete (this is by far the
simplest way to work out your situation).

Use the worksheet in the publication AMP group demerger: How it
affects Australian resident shareholders (NAT 11101-6.2004).
This publication will be released shortly. To order a printed
copy, please take note of the NAT number - NAT 11101 - and
select Online publications ordering service or phone the
Publications Distribution Service 1300 720 092 for the cost of a
local call. The Publications Distribution Service operates 24
hours a day every day.

Alternatively, you will be able to obtain it from Tax Office
shop fronts when it is released.

INCOME SECURITIES

AMP also undertook an off-market buy-back offer of AMP income
securities. This is separate from the demerger and rights offer
and is not addressed in this document.

SHARE SALE FACILITY - HHG SHARES

HHG provided a share sale facility for some HHG shares. If you
sold your shares under this facility you need to use the post-
demerger cost base of your HHG shares in calculating your
capital gain or capital loss as a result of this sale.

This Australian Taxation Office announcement is dated 2 July
2004.


QANTAS AIRWAYS: Offers a Million Discount Seats
-----------------------------------------------
Qantas Airways announced Thursday a seven-day domestic sale
offering fares priced from as low as $55*, with seats available
on more than 50 routes across the extensive Qantas domestic
network.

Qantas Head of Sales and Distribution Rob Gurney said Qantas was
Australia's leading domestic airline, with a network that
covered every State and Territory and the biggest range of
flights.

"Offering a million discounted seats across our network gives us
an unparalleled opportunity to stimulate demand and encourage
people to see Australia," Mr. Gurney said.

"Customers have a week to buy theses special fares, and the
seats are available for travel from 20 July right through to 15
December.

"This gives people the opportunity to take advantage of the low
fares over a five month period and allows our customers to plan
well ahead," he said.

The sale fares include:

Sydney-Melbourne $55, Melbourne-Brisbane $89,
Brisbane-Sydney $59, Cairns-Brisbane $89,
Adelaide-Melbourne $66, Perth-Kalgoorlie $98,
Canberra-Melbourne $68, Darwin-Brisbane $158.

A range of holiday packages is also on sale through Qantas
Holidays.

"These fares and packages offer real value for money, offering
customers Qantas' full service product, including the ability to
earn Frequent Flyer points and complimentary meals, at very
competitive prices," Mr. Gurney said.

The special fares are on sale until midnight (AEST) on Wednesday
7 July. Bookings and inquiries can be made at qantas.com, by
calling Qantas on 13 13 13 (13 14 15 for Qantas Holidays),
through Qantas Travel centres, and travel agents. Conditions
apply.

*Qantas Red e-Deal internet fares. $11 more for each flight
booked via Qantas Telephone Sales, Qantas Travel outlets, Qantas
Airport locations, and some travel agents.

Issued by Qantas Corporate Communication (3112)
Email: qantasmedia@qantas.com.au


QANTAS AIRWAYS: Workers Launch Pay Claim
----------------------------------------
Labor unions at Qantas Airways are asking for annual wage hikes
of 6 percent over the next two years and more than double the
airline's current parental-leave provisions, the Australian
reports.

The Australian Services Union (ASU), which represents about a
third of the airline's 35,000 staff, is optimistic the airline
will consider its claims as it enters a new bargaining period,
with negotiations due to start this month.


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


CHINA GAS: Announces Extension of Dispatch Circular
---------------------------------------------------
China Gas Holdings Limited (Incorporated in Bermuda with limited
liability) announces further extension of time for dispatch of
circular regarding a major and connected transaction.

Application has been made to the Stock Exchange for the date of
dispatch of the circular containing, among other things, details
of the Acquisition as announced by the Company on May 24, 2004
to be further extended to not later than July 9, 2004.

Reference is made to the press announcement issued by the
Company dated May 24, 2004 regarding the Acquisition.
Capitalized terms used in this announcement shall have the same
meanings as those defined in the Announcement unless otherwise
stated.

Reference is also made to the press announcement issued by the
Company dated June 14, 2004 regarding the extension of time for
the dispatch of the Circular to not later than July 2, 2004.

Pursuant to Rule 14.38, Rule 14.40 and Rule 14A.49 of the
Listing Rules, the circular containing, among other things,
details of the Acquisition, is required to be dispatched by the
Company to the Shareholders within 21 days after the publication
of the Announcement.

Since additional time is required to finalize the letter of
advice from the independent financial adviser and the financial
information on Huinan China Gas to be included in the letter
from the board of Directors and the accountants' report on
Huinan China Gas, the Company has applied to the Stock Exchange
for a further extension of the deadline for dispatching the
Circular to not later than July 9, 2004.

By order of the board of directors of China Gas Holdings Limited
Liu Ming Hui
Managing Director
Hong Kong, 30 June

This announcement is dated July 2, 2004.


WORLD HIGHEST: Appoints Liquidators
-----------------------------------
By order of the High Court of the Hong Kong Special
Administrative Region, dated November 11, 2003, Messrs Bruno
Arboit and Simon Richard Blade of 12/F, China Merchants Tower,
Shun Tak Centre, 168-200 Connaught Road Central, Hong Kong, have
been appointed Joint and Several Liquidators of the World
Highest Prosperity Limited (In Liquidation) without a committee
of inspection.

This announcement is dated June 25, 2004.


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


LONDON SUMATRA: Trading Suspension Lifted
-----------------------------------------
The Jakarta Stock Exchange has decided to lift the trading
suspension of PT PP London Sumatra (Lonsum) shares after the
plantation firm called off its plan to pay a final dividend from
its 2003 net profit, The Jakarta Post reports.

Trading of Lonsum shares was halted Tuesday by JSX following the
firm's plan to pay dividend despite its IDR150 billion (USD16
million) accumulated losses in 2003. Regulations forbid
companies with negative retained earnings to pay dividend.

On June 23, Lonsum approved its first dividend payment since
1998 worth IDR10 per share representing 3.3 percent of its 2003
net profit of IDR311 billion.

As part of its debt-refinancing scheme, Lonsum inked a US$75
million loan agreement with a syndicate, which includes Bank
Negara Indonesia as arranger and agent, and PT NC Securities and
Bank Niaga as participants.

Lonsum shares ended higher on Thursday on the local bourse by
IDR75 and closed at IDR975 after the suspension.


PERTAMINA: Awards Development Contracts
---------------------------------------
Indonesia's state oil and gas firm PT Pertamina granted two-year
engineering procurement construction contracts for its South
Sumatran gas fields to three firms, The Jakarta Post reports,
quoting Pertamina spokesman Hanung Budya Yukyanta.

The three firms, namely PT Rekayasa Industri, PT Inti Karya
Persada Tehnik and Mitsubishi Heavy Industries Ltd, will build
production facilities in South Sumatra.

"The natural gas development project in South Sumatra is
expected to supply 250 million cubic feet of gas per day
(MMSCFD) to West Java, starting in mid-2006," Mr. Hanung said in
a press release Thursday.

The first contract worth US$33.01 million involves the
construction by PT Rekayasa Industri and Mitsubishi Heavy
Industries of a natural gas receiving facility in West Musi. The
second contract is for a US$135.92-million construction project
for a gas transmission pipeline linking West Musi and Pagar
Dewa, while the third one is for the putting up of a US$69.81-
million receiving facility in Merbau and a transmission facility
in Pagar Dewa. The last two contracts were awarded to PT Inti
Karya Persada Teknik.


PERTAMINA: KPPU Reviews Tanker Sale
-----------------------------------
Indonesia's Business Competition Supervisory Commission (KPPU)
is reviewing PT Pertamina's tanker sale to determine if the
tender process did not breach Law No. 5/1999 on business
competition, The Jakarta Post revealed, citing KPPU member Pande
Radja Silalahi.

Mr. Pande confirmed the investigation started after Pertamina's
labor union complained to KPPU about the lack of transparency in
the tender process.

"The KPPU will process this as soon as possible. We will also
try to get clarification on all the complaints we've received,"
Pande said, who did not mention a specific timetable.

Based on the Antimonopoly and Unfair Competition Law, which
forbids a business from engaging in unfair competition deals,
KPPU is authorized to investigate and impose sanctions on
businesses suspected of unfair practices.

Citing cash flow problems, PT Pertamina recently sold its two
Very Large Crude Carriers (VLCCs) being built by South Korea's
Hyundai Heavy Industries to Norway's Frontline LTD for US$184
million amid opposition from Pertamina workers.

KPPU, however, refused to investigate the controversial
appointment of Goldman Sachs as Pertamina's financial adviser,
saying that there's nothing wrong with it and is within
Pertamina's rights as a limited liability company. He stressed
that what they are probing is the whole process of the tanker
sale tender.


PERTAMINA: To Audit Alleged Mishandled Accounts Under Ex-Head
-------------------------------------------------------------
Indonesian state oil and gas firm PT Pertamina will conduct an
investigative audit on the alleged mishandled accounts under
former Pertamina president director Baihaki Hakim, The Jakarta
Post reports.

According to Pertamina chief financial officer Alfred Rohimone,
the firm is currently selecting an independent auditor to
execute the audit, which was requested by the House of
Representatives Commission VIII on mining and energy affairs to
be completed by August 30.

Commissioner Priyo Budi Santoso said the request was made in
view of Pertamina's transformation into a limited liability
company, and to look deeper into the roots of its current
financial woes. He added that the audit is aimed to clearly
define which assets belong to Pertamina and which belong to the
state so the two will not "easily change hands."

In addition, the audit is geared to dig up alleged mismanaged
finances under Baihaki's term believed to be the cause of the
firm's present cash flow problems, as well as the financial woes
of its insurance arm, Tugu Pratama.

The Commission was particularly taken aback upon learning about
the existence of an old IDR17 trillion debt owed by the firm to
the state, something which Mr. Baihaki, who was appointed by
former president Abdurrahman Wahid in 2000 to wipe Pertamina
clean of corruption, did not mention during his term.

However, despite lingering questions, Parliament still saw fit
to nominate Mr. Baihaki, a former president of US-based
ChevronTexaco's subsidiary PT Caltex Pacifics Indonesia, for the
chairmanship of the Supreme Audit Agency.

It was under Mr. Baihaki's management that the firm's two Very
Large Crude Carriers (VLCCs) were purchased. The decision of the
current Pertamina management to sell the supertankers is now at
the center of a controversy, which has dragged on for weeks now.


SEMEN GRESIK: JSX May Lift Suspension Soon
------------------------------------------
The Jakarta Stock Exchange may lift trading suspension of cement
maker PT Semen Gresik's shares as early as July 8 provided the
firm could submit a written clarification on its accounting
problems to the Bourse, The Jakarta Post reported, citing JSX
listing director Harry Wiguna.

"We may lift the suspension next Thursday. But to date, we still
haven't received a clarification from the company. They (SG
management) should submit it immediately if they want the
suspension to be lifted right away," Mr. Harry said.

The JSX halted trading of Gresik's shares on June 28 following
the refusal of the firm's auditor PricewaterhouseCoopers (PWC)
to comment on Gresik's 2002 and 2003 accounts due to its failure
to secure a financial report on Gresik's West Sumatra unit PT
Semen Padang, which had been demanding to be spun off from its
parent.

It was reported earlier that Semen Gresik had problems with
Padang when the rebellious unit refused to hand over its
financial statement.

Mr. Harry had previously declared that Gresik's stock will
remain suspended until the firm's annual shareholder's meeting
on June 30, or until PWC provides a satisfactory report to Semen
Gresik after completion of the Semen Padang audit in October.

Fifty-one percent of Semen Gresik is state-owned while Mexico
cement giant Cemex holds 25.5 percent and the investing public
23.5 percent.

Gresik's shares were last traded at IDR8,000 before the
suspension.


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


JAPAN AIRLINES: Launches Nagoya-Guangzhou Flights
-------------------------------------------------
Japan Airlines Corporation (JAL), formerly named Japan Airlines
System Corporation, plans to launch a new flight to Guangzhou,
China, from Nagoya from the opening the new Chubu International
Airport on February 17 2005.

This is in addition to previously announced plans for new
flights from the new airport, which goes by the name of
Centrair.

When Centrair opens, JAL will launch a daily Nagoya-Paris flight
in a code share operation with Air France. Flights to Bangkok
and Busan will be increased from three flights a week to daily
service.

JAL will also boost international cargo services at the new
airport, with three weekly 747 all-cargo aircraft routed Hong
Kong-Nagoya-USA.

The inauguration of Nagoya-Guangzhou flights three times weekly
will increase the number of Chinese destinations served by JAL
from Nagoya to five, at the same time increasing JAL's total
China services from Nagoya to 31 a week, including flights with
code-share partners. JAL already flies from Nagoya to Beijing (5
flights weekly), Shanghai (twice daily, including a daily code
share with China Eastern) Tianjin (twice weekly) and daily
flights to Hong Kong with code share partner Cathay Pacific.

As a result, JAL's total passenger network of Japan-China
services will increase to 219 flights per week on 27 routes
(including code-share flights), the biggest Japan-China network
currently available.

For the benefit of travelers from the Chubu region making
international transfers at Tokyo's Narita Airport, JAL will
increase capacity of its twice-daily feeder services on the
Nagoya-Narita route. One of these flights is operated as an
international service. The other flight, a domestic roundtrip
flight (JAL 3086/3087) now operated by a 50-seat CRJ-200
regional jet, will be changed to a larger 150-seat 737 type when
Chubu International opens.

The opening of the new Chubu International Airport serving
Nagoya will present a new business opportunity for the
introduction of new international and domestic routes and the
expansion of flights on established routes now served from the
present Nagoya airport at Komaki.

Nagoya is already JAL's 3rd international hub in Japan, after
Narita and Kansai.

Japan Airlines Corporation aims to return to profit in 2005,
TCR-AP reported recently. The airline was looking to meet a net
profit forecast of JPY36 billion (US$323.6mil) for the year
started April 1 despite the recent surge in oil prices.

This is a company press release.


HUIS TEN: Court OKs Rehab Plan
------------------------------
The Tokyo District Court has approved Huis Ten Bosch Co.'s
rehabilitation plan under the support of Nomura Principal
Finance Co., an investment firm controlled by Nomura Holdings
Inc, the Jiji Press reported on Wednesday.

The failed theme park operator will accept fresh capital funds
worth JPY8 billion in late July after entirely depleting its
current capital. Later, Huis Ten Bosch will accept additional
funds worth JPY3 billion to boost its capital.

Under the rehabilitation plan, the company plans to pay off
JPY20 billion in obligations by the end of March 2015.

Huis Ten Bosch opened a Dutch-style theme park in Sasebo,
Nagasaki Prefecture, southwestern Japan, in March 1992. The park
attracted visitors soon after the opening, but the popularity
faded soon, leading the company to file for court protection
from creditors under the corporate rehabilitation law in
February 2003.

Huis Ten Bosch inked a rehabilitation sponsorship contract with
Nomura Principal in December 2003.


MITSUBISHI MOTORS: Clarifies 'Issuance of New Shares' Report
------------------------------------------------------------
Mitsubishi Motors Corporation (MMC), in a press release,
clarified the announcement made on June 29, 2004 concerning the
issues of No. 3 Class A preferred shares, No. 1 to No. 3 Class B
preferred shares and common stock.

The announcement stated that, with respect to the No. 1 to No. 3
Class B preferred shares and the common stock, the amounts may
be reduced at the determination of the purchaser. Some of the
press reports since, however, have indicated that the size of
the No. 1 to No. 3 Class B preferred shares will be JPY150
billion and the size of the common stock will be JPY100 billion.

The Company would like to confirm that the amounts the Board of
Directors resolved to issue on June 29 are the maximum amounts
that can legally be issued by the company, and the purchasers
based on market and other underwriting conditions will determine
the actual amounts.

The capital requirements of our Revitalization Plan have not
changed. Mitsubishi still intend to raise approximately JPY470
billion and not the JPY546 billion reported by some press
reports. However, Mitsubishi wish to be in a position to access
additional capital should the market conditions permit. The
board resolution on June 29 gives us the ability to increase the
size of these issuances from the originally announced amounts.

The Company is currently in discussions with JPMorgan and
Phoenix Capital to reach a definitive arrangement for the
issuance and sale of the preferred shares and the common stock.


MITSUBISHI MOTORS: Former Executives Face Criminal Charges
----------------------------------------------------------
The Yokohama District Public Prosecutors Office on Thursday
indicted an ex-president and other former Mitsubishi Motors
executives on charges of professional negligence resulting in a
fatal accident in which the clutch housing of a Mitsubishi Fuso
heavy-duty truck broke off, Mitsubishi Motors Corporation
reported on its Web site.

Mitsubishi Fuso was the truck and bus division of Mitsubishi
Motors before it was spun off into an independent company in
January 2003. Mitsubishi Motors will watch the trial closely.

Mitsubishi Motors Corporation President Hideyasu Tagaya will
personally take the lead within Mitsubishi Motors to ensure that
the management and all employees focus on legal compliance and
quality improvement to prevent a similar situation from
occurring again.


MITSUBISHI MOTORS: Japan Sales Down 64.3% in June
-------------------------------------------------
Mitsubishi Motors' car sales in Japan plunged 64.3 percent in
June as a defect cover-up scandal took its toll, the Sydney
Morning Herald reports.

Domestic car sales, excluding mini-vehicles, slipped to 4,885 in
June from 13,681 in the same month last year for the seventh
consecutive annual decline, the Japan Automobile Dealers'
Association said.

"Customers apparently avoided buying Mitsubishi cars because of
the scandal," said Toshiyuki Yagihashi, a spokesman for the
association.

"The brand image of Mitsubishi has been damaged seriously by the
cover-up scandal," he said.

Mitsubishi Motors Corporation is asking some of the companies in
a previously announced US$4 billion rescue package for an
additional JPY96 billion (US$890 million) in fresh funds, the
TCR-AP reported in its 129th issue.

Most of the new money would come from J.P. Morgan Chase & Co.,
which might invest JPY50 billion on top of the JPY100 billion of
preferred shares it has pledged to buy. Mr. Okazaki said Phoenix
Capital might also increase its investment, previously set at
JPY70 billion, to JPY100 billion.

The savings are needed to offset losses after the company
admitted it covered up vehicle defects for years to avoid the
embarrassment of issuing recalls.


NISSAN DIESEL: Recalls 177 Trucks
---------------------------------
Nissan Diesel Motor Co. will recall 177 trucks to fix their
front-axle bearings to prevent the vehicles from catching fire,
Kyodo News reports, citing the Ministry of Land, Infrastructure
and Transport. The trucks subject to the recall were
manufactured between June 2001 and March 2004.

Nissan Diesel Motor Co. posted a net loss of JPY40.27 billion in
the year ended March 31, 2004, TCR-AP reported recently.


SOFTBANK CORPORATION: Denies Reported Interest In C&W Unit
----------------------------------------------------------
Softbank Corporation clarified that it is not planning to buy
the Japan unit of Cable & Wireless Plc, AFX Asia reports, citing
Softbank Corp. spokesman Takeaki Nukii.

The Asahi newspaper reported earlier that Softbank Corporation
is considering the acquisition of Cable and Wireless IDC Co.,
which will likely be worth some JPY10 billion.

Kazuko Koutaki, spokeswoman for the Japan unit of Cable and
Wireless similarly denied the report, saying: "We couldn't find
any fact (to back up) the report. It seems to be mere
speculation."


UFJ HOLDINGS: Sovereign Asset Cuts Stake to 3.91%
-------------------------------------------------
UFJ Holdings Inc. said on Friday its top shareholder Sovereign
Asset Management had cut its stake to 3.91 percent from 5.11
percent, according to Reuters.

UFJ shares fell 5.48 percent to JPY431,000 on Friday, against a
1.41 percent drop in the benchmark Nikkei average.

The bank posted a net loss of JPY402.8 billion (S$3.71 billion)
for the business year to March, its third straight year in the
red. This led to the resignations of several executives and a
massive restructuring, including sales of some of the group's
peripheral assets.


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


HANARO TELECOM: Changes Corporate Name to Hanarotelecom
-------------------------------------------------------  
As part of its efforts to change its corporate image, Hanaro
Telecom Inc. made public on Thursday the company's new name and
logo, reports the Korea Herald. From Hanaro Telecom Inc., it
will now be known as Hanarotelecom, with the image of a red
hummingbird as its new symbol.

Company officials declined to give the specifics of its
investment plans in promoting the new corporate image.
Hanarotelecom has 4.8 percent of the fixed-line market and 24
percent of the broadband market.

The company reported revenues of KRW1.3 trillion and a loss of
KRW165 billion in 2003.


HYNIX SEMICONDUCTOR: Finalizing China JV With STMicro
-----------------------------------------------------
Hynix Semiconductor Inc. is in the process of finalizing a deal
with STMicroelectronics NV to build a chip plant in China, the
Asian Wall Street Journal reports.

In March, the two chipmakers began talks to set up a memory-chip
plant in Wuxi, Jiangsu province. The two companies have been
talking about a joint investment in a $1.5 billion factory in
China.

Hynix is just getting back on its feet amid a recovery in the
DRAM sector. Stronger chip prices and better demand for personal
computers have raised hopes that the company will turn in a
full-year net profit for the first time since 1999.

In the first quarter of this year, Hynix reported a net profit
of KRW351.1 billion (US$304.5 million) on revenues of KRW1.3
trillion. Analysts widely expect Hynix to report a net profit in
the second quarter.


KOOKMIN BANK: Denies Bidding For Investment Firms
-------------------------------------------------
Kookmin Bank said Friday that its consortium with J.P. Morgan
Chase & Co. (JPM) didn't submit a bid proposal for Korea
Investment & Securities Co. and Daehan Investment & Securities
Co., Dow Jones reports.

In a filing with the Financial Supervisory Service, Kookmin Bank
said the consortium didn't participate in the auction to sell
the two investment trust companies held Thursday.

This confirms a report by the Korea Economic Daily, which cited
industry sources.


KOOKMIN BANK: Posts 1H04 KRW169.1B Net Profit
---------------------------------------------
Kookmin Bank reported a net profit of KRW169.1 billion (US$146
million) in the first quarter of this year, following three
consecutive quarterly losses, reports The Korea Herald.

In his monthly address to the company's staff, chief executive
Kim Jung-tae said the bank missed its profit target due to
disappointing interest income and a decline in card assets,
which slashed its fee income.

"It seems (Kookmin) failed to achieve its goal, but continued to
be in the black," Kim said.

Kookmin and its smaller rivals saw their profits fall a combined
63 percent last year as rising credit card delinquencies and
corporate failures forced them to set aside a record KRW8
trillion to cover bad loans.


SSANGYONG MOTOR: June Sales Up 3.3%
-----------------------------------
Ssangyong Motor Co. said June sales increased 3.3 percent on
year to 13,345 units due to the brisk sales of its minivan
Rodius and New Rexton sport utility vehicle, relates Dow Jones.  

Sales were also up 5.5 percent on month from the 12,654 units
sold in May. The carmaker sold 9,637 vehicles in the domestic
market, down 11 percent from the same period last year due to
the prolonged weakness of the local economy.

Domestic sales during the period dropped 26 percent on year to
54,206 units, while exports rose to 14,923 units, up 55 percent
from the year-ago level.

The Company is in the process of being sold and its creditors,
which hold a controlling stake, said they would name a preferred
bidder for the carmaker later this month.


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


AKTIF LIFESTYLE: Releases Auditor's Report to Shareholders  
----------------------------------------------------------
Pursuant to Paragraph 9.19 (35) of the Listing Requirements of
Bursa Malaysia Securities Berhad (Bursa Malaysia), the Board of
Directors of Aktif Lifestyle Berhad wishes to inform that Messrs
Ernst & Young, the auditors of the Company have qualified the
financial statements of the Company for the financial year ended
29 February 2004.

Details of the qualification in the Auditors' Report to
Shareholders of the Company dated 29 June 2004 which accompanies
the financial statements as at 29 February 2004 is released
herein to Bursa Malaysia.

The audit qualification made by the auditors as at the date of
the report is as follows:

The financial statements show a gain of RM52.38 million in
respect of the Group, arising from the disposal of certain
subsidiaries, as disclosed in Note 14 to the financial
statements.

The financial statements of the Group have been presented on the
basis that the said subsidiaries were deconsolidated effective
from 1 March 2003 i.e the beginning of the financial year.
However, as mentioned in Note 14, the Sale and Purchase of
Shares Agreement (SPSA) for the Proposed Disposal was signed on
31 October 2003.

According to MASB 11: Consolidated Financial Statements and
Investments in Subsidiaries, the results of operations of the
subsidiaries disposed of should be included in the consolidated
financial statements up to the date of disposal, which is the
date on which the holding company ceases to have control of the
subsidiaries. The income statement of the Group omits the
results of the subsidiaries up to the date control was
transferred pursuant to the SPSA.

In addition, it is our opinion that it is inappropriate to
include the reversal of the merger reserve and the reserve on
consolidation in the gain on disposal recognized in the
consolidated financial statements as analyzed in Note 14 to the
financial statements.

Therefore, it is our opinion that in view of the significance of
the above matters, the income statement of the Group does not
show a true and fair view of the results for the year ended 29
February 2004 in accordance with applicable approved accounting
standards in Malaysia, and the matters required to be disclosed
by Section 169 of the Companies Act, 1965.

In view of the matters referred above, it is our opinion that
the cash flow statements of the Group do not give a true and
fair view of the cash flows for the year.

However, in our opinion the balance sheet of the Group and the
financial statements of the Company has been properly drawn up
in accordance with the provisions of the Companies Act, 1965 and
applicable Approved Accounting Standards in Malaysia and give a
true and fair view of the financial position of the Group and of
the Company as at 29 February 2004 and of the results and the
cash flows of the Company for the year then ended.

As required by Section 174(2)(aa) of the Companies Act, 1965, we
further report that, in our opinion, had the financial
statements of the Group drawn up in accordance with applicable
Approved Accounting Standards, they would have given a true and
fair view of the matters required by Section 169 to be dealt
with in the financial statements of the Group. We further report
that we are unable to quantify the financial effects of the
inappropriate date of disposal being applied.

In clarification of the audit qualification, the Directors have
included the following statement in their Directors' Report:-

The financial statements of the Group and of the Company have
been prepared on the basis:

(i) That control of the Aktif Lifestyle Stores Sdn Bhd ("ALS")
Group has been transferred on 1 November 2003 pursuant to the
SPSA;

(ii) That control of the management of the ALS Group has been
transferred pursuant to the management agreement dated 31
October 2003 as provided under the SPSA;

(iii) That under the SPSA, the Company is not liable for all
losses of the ALS Group as at 31 October 2003;

(iv) That resulting from (i) and (ii) above, the financial
statements of the ALS Group as at 29 February 2004 are
unavailable to the Company;

(v) The Securities Commission has granted its approval to the
sale of the ALS Group on 17 May 2004 and the Company's
shareholders' approval was obtained on 18 June 2004.

Based on the above rationale, the deconsolidation of the ALS
Group as at 1 March 2003 presents, in the opinion of the
directors, the true and fair effects of the sale transaction as
at 29 February 2004.

However, the auditors differ in opinion on the treatment of this
transaction and have qualified their report to state that the
income and cash flow statements of the Group do not give a true
and fair view.

The directors are of the opinion that since the control and
management of the ALS Group has passed to the purchaser on 1
November 2003 pursuant to the SPSA and management agreement, the
deconsolidation of the income and cash flow statements of the
ALS Group would more appropriately reflect the reality of the
transaction.

In this respect, the directors felt that it is in the best
interest of shareholders to choose 'substance over form' to
reflect the reality of the transaction and the auditors'
qualification is viewed as inappropriate, especially when the
financial statements of ALS Group as at 29 February 2004 are no
longer available to the Company.

This announcement is dated 1 July 2004.


AKTIF LIFESTYLE: SC Approves Unit Disposal
------------------------------------------
Under PN4/2001, Aktif Lifestyle Berhad is required to announce
the status of its plan to regularise its financial condition on
the first market day of each month.

Hwang-DBS Securities Berhad, on behalf of Aktif, had on 18 May
2004 announced that the Securities Commission (SC) had, via its
letter dated 17 May 2004 approved the Proposed Disposal of Aktif
Lifestyle Stores Sdn Bhd (Proposed Disposal).

On 18 June 2004, the shareholders of Aktif at its Extraordinary
General Meeting had approved the Proposed Disposal.

Aktif and CP Properties Sdn Bhd (the Purchaser) have agreed that
following the approval of Aktif's shareholders on 18 June 2004
for the Proposed Disposal, the Proposed Disposal became
unconditional on 18 June 2004 and that the parties have thirty
(30) days from 18 June 2004 to complete the Proposed Disposal.

The Board of Directors of Aktif wishes to inform that the
Company is continuing its efforts to seek and acquire viable
businesses.

This announcement is dated 1 July 2004.


AVENUE SECURITIES: Processes Finalization of Restructuring Plan
---------------------------------------------------------------
Further to the announcement on 1 June 2004, Avenue Securities
Sdn Bhd (Avenue) on behalf of the Board of Directors of Tru-
Tech, wishes to announce that the Company is in the process of
finalizing a comprehensive restructuring plan to regularize its
financial condition.

Avenue, on behalf of the Board of Directors of Tru-Tech, wishes
to announce that there has been no material development in
respect of the Company's plan to regularized its financial
position since the announcement dated 27 May 2004 and 1 June
2004.

The details of the restructuring plan will be announced once it
is finalized. As set out in the Tru-Tech's announcement dated 27
February 2004 (First Announcement), Tru-Tech will announce its
detailed plan to regularize its financial condition within six
(6) months from the date of the First Announcement.

This announcement is dated 1 July 2004.


BERJAYA GROUP: Issues Update On Status Of Proposals
---------------------------------------------------
BERJAYA GROUP BERHAD released to Bursa Malaysia Securities
Berhad an update in relation to the following proposals:

- Proposed disposal of shares and warrants in Hyundai-Berjaya
Corporation Berhad (HBCorp) to Space Tracks Sdn Bhd (STSB), a
wholly owned subsidiary of Sime Darby Berhad(SDB) for a disposal
consideration of RM3.60 per ordinary share of RM.00 each in
HBCorp and RM2.60 per warrant issued by HBCcorp

- Proposed disposal of shares in Hyumal Motor Sdn Bhd(Hyumal) to
STSB, a wholly owned subsidiary of SDB for a disposal
consideration of RM25.00 per ordinary share of RM1.00 each in
Hyumal and

- Proposed disposal of shares in Inokom Corporation Sdn Bhd
(Inokom) to STSB, a wholly owned subsidiary of SDB for a
disposal consideration of RM1.50 per ordinary share of
RM1.00each in Inokom.

Under Section 36(1) of the Malaysian Code on Takeovers and
Mergers, 1998 (Code), Commerce International Merchant Bankers
Berhad (CIMB), as a connected person of BGroup (as defined under
Section 36(6) of the Code), is required to disclose the total
number and price of all voting shares in HBCorp and SDB which it
has dealt in for its own account.

In accordance with Section 36(2) of the Code, CIMB wishes to
inform that its wholly owned subsidiary, CIMB Securities Sdn
Bhd, has dealt in the following shares for its own account on 30
June 2004, details of which are as set out in Table 1.

This Announcement is dated 1 July 2004.

Table 1: Details of trading by CIMB Securities Sdn Bhd

Transaction  Securities  Quantity Average Price(RM)
Purchase  HBCorp Shares 3,022,800 3.3400


CSM CORPORATION: Issues Status of Financial Condition
-----------------------------------------------------
CSM Corp. Berhad (CSM) issues Monthly status announcement
pursuant to Practice Note No. 4/2001 (PN 4/2001) of the Listing
Requirements of Bursa Malaysia Securities Berhad (Listing
Requirements).

Pursuant to PN4/2001 of the Listing Requirements, Malaysian
International Merchant Bankers Berhad, on behalf of CSM, wishes
to announce that there is no new development on the Company's
plan to regularize its financial condition since the last
monthly status announcement dated 1 June 2004.

For and on behalf of
CSM CORPORATION BERHAD
MALAYSIAN INTERNATIONAL MERCHANT BANKERS BERHAD

This announcement is dated 1 July 2004.


DUOPHARMA BIOTECH: SC Grants Extension Of 45 Days Re Share Split
----------------------------------------------------------------
Duopharma Biotech Berhad (DBB) issued to Bursa Malaysia
Securities Berhad an update in relation to the share split into
two (2) ordinary shares at par value of RM0.50 each for every
one (1) existing ordinary share at par value of RM1.00 each held
in the company (share split).

The company refers to its announcements dated 26 February 2004,
13 April 2004 and 17 June 2004 in relation to the Share Split.

On behalf of the Company, Affin Merchant Bank Berhad, is pleased
to announce that the Securities Commission has, via its letter
dated 30 June 2004, which the company received on 1 July 2004,
approved the extension of time of an additional one and half (1
1/2) months up to 27 August 2004 to complete the Share Split.

This announcement is dated 1 July 2004.


FABER GROUP: Updates Proposed Restructuring Scheme
--------------------------------------------------
In compliance with PN4 paragraph 4.1 (b) of the Listing
Requirements of Bursa Malaysia which requires an affected listed
issuer to announce the status of its plan to regularize its
financial condition on a monthly basis until further notice from
Bursa Malaysia Securities Berhad, Faber Group Berhad (FGB)
announced that since the last announcement on 1 June 2004, the
following have taken place:

- Bursa Malaysia had on 3 June 2004 approved the circular to
FGB's shareholders in relation to the Proposed Restructuring
Scheme of FGB, and

- The shareholders of FGB had at the Extraordinary General
Meeting held on 28 June 2004 approved the Proposed Restructuring
Scheme of FGB.

Aseambankers Malaysia Berhad on behalf of FGB had released the
above announcements to Bursa Malaysia on 4 June 2004 and 28 June
2004 respectively.

This announcement is dated 1 July 2004.


FORESWOOD GROUP: Awaits SC Approval On Debt Restructuring
---------------------------------------------------------
In line with Practice Note No.4/2001 of the Listing Requirement
of the Bursa Malaysia Securities Berhad (BMSB), Foreswood Group
Berhad wishes to announce that there is no significant
development in respect of its plan to regularize its financial
condition. The Company is still waiting for Securities
Commission's approval on its Proposed Corporate and Debt
Restructuring Scheme.

This announcement is dated 1 July 2004.


GENERAL SOIL: Submits Proposed Restructuring Scheme to SC
---------------------------------------------------------
Further to the announcement dated 1 June 2004, the Board of
Directors of General Soil Engineering Holdings Berhad wishes to
inform Bursa Malaysia Securities Berhad that the Proposed
Restructuring Scheme has been submitted to the Securities
Commission (SC) and the SC (on behalf of Foreign Investment
Committee) on 14th February 2004.

As of Thursday, SC is in the midst of finalizing the Proposed
Restructuring Scheme.

This announcement is dated 1 July 2004.


INTEGRATED RUBBER: Releases Status On Financial Condition
---------------------------------------------------------
In compliance with Paragraph 4.1 (b) of Practice Note 4/2001
issued by Bursa Malaysia Securities Berhad, the Board of
Directors of Integrated Rubber Corp. Berhad (IRCB) announces
that the status of IRCB's plan to regularize its financial
condition remains unchanged from what IRCB had announced on 30
June 2004.

This announcement is dated 1 July 2004.


KEMAYAN CORPORATION: Awaits Necessary Documents Re Restructuring
----------------------------------------------------------------
Further to the announcement on 1 June 2004, on behalf of KCB, we
wish to announce that the Company is presently awaiting for the
necessary documents to be cleared by the relevant authorities in
obtaining the approvals of the Scheme Creditors and shareholders
of KCB at the relevant meetings to be convened.

Further developments in relation to the Proposed Restructuring
Scheme will be made to the Exchange in due course.

This announcement is dated 1 July 2004.


KILANG PAPAN: Revises Proposed Restructuring Scheme
---------------------------------------------------
Further to the announcement dated 1 June 2004, AmMerchant Bank
Berhad, on behalf of Kilang Papan Seribu Daya Berhad (KPSD),
wishes to inform that a revised proposed restructuring scheme
has been submitted to the relevant authorities on 21 June 2004
and an announcement with regards to the aforementioned was also
made on 22 June 2004. KPSD is currently waiting for approvals
from the relevant authorities on its revised proposed
restructuring scheme.

Save as disclosed above, there is no material change to the
Company's plan to regularize its financial condition.

This announcement is dated 1 July 2004.


NALURI BERHAD: Releases Update on Proposals
-------------------------------------------
Naluri Berhad issued to Bursa Malaysia Securities Berhad an
update in relation to the following proposals:

(i) proposed capital restructuring comprising a proposed capital
repayment, proposed share premium account utilisation and
proposed share premium set-off (as defined herein) (proposed
naluri capital restructuring scheme)

(ii) Proposed subscription of new ordinary shares of rm1.00 each
in Sriwani Holdings Berhad (SHB) (new SHB shares) and certain
new irredeemable convertible preference shares known as ICPS-a
(proposed SHB subscription)

(iii) Proposed acquisition of certain ordinary shares of RM1.00
each in SHB and certain irredeemable convertible preference
shares of RM0.10 each in SHB from certain financial
institutions, certain trade creditors of SHB and Malaysia
airports (Sepang) Sdn Bhd (proposed SHB Securities Acquisition)

(iv) Proposed acquisition of certain properties from certain
subsidiaries of SHB (proposed SHB property acquisition)

(v) Proposed acquisition by Naluri of 100 percent equity
interest in United Industries Sdn Bhd (UISB), 100 percent
effective equity interest in United Vehicle Industries Sdn Bhd
(UVISB), 92.772 percent effective equity interest in United
Filter Sdn Bhd (UFSB) and 70 percent equity interest in united
Sanoh Industries Sdn Bhd (USISB) (Proposed UI Group acquisition)

Hereinafter, the abovementioned proposals shall be collectively
referred to as proposals

Reference is made to our announcement on 8 April 2004, wherein
we had announced, on behalf of Naluri, that clarification would
be sought from the SC in relation to whether the proposed
disposal between Pengurusan Danaharta Nasional Berhad
(Danaharta) and Atlan Properties Sdn Bhd (APSB) of the 32%
equity interest in Naluri is inter-conditional with the Proposed
Capital Repayment.

On 20 May 2004, Aseambankers had announced on behalf of Naluri
that Naluri will be submitting an appeal by the Board of
Directors of UI Group to the SC, against having to comply with
the requirement of paragraph 3(vi)(c) of the SC approval letter
dated 6 April 2004 whereby the Board of Directors of UI Group
have to confirm in writing that the trade debts exceeding the
credit period are recoverable and full provision has been made
in the accounts/forecast/projection of UI Group.

In addition to the above, on behalf of the Special
Administrators of Naluri, Aseambankers had also submitted an
appeal to the SC on 16 June 2004 against having to include the
entire sale and purchase agreement between Danaharta and APSB
(SPA) in the circular to the shareholders of Naluri, as required
in the SC approval letter dated 6 April 2004.

In relation to the above, Aseambankers, on behalf of Naluri and
the Special Administrators of Naluri, wishes to inform that the
SC had, vide its letter dated 30 June 2004 (which was received
on 1 July 2004):

(a) Clarified that the proposed disposal of the 32 percent
equity interest in Naluri is conditional upon the SC's approval
on the Proposed Capital Repayment; and

(b) Approved the abovementioned appeals vide the same letter
dated 30 June 2004. The salient terms of the SPA will however be
disclosed in the circular to the shareholders of Naluri.

This announcement is dated 1 July 2004.


NORTH BORNEO: Releases Status Of Financial Condition
----------------------------------------------------
The North Borneo Corp. Berhad issued an announcement pursuant to
Practice Note No. 4/2001 issued under paragraph 8.14 of the
listing requirements of Bursa Malaysia Securities Berhad.

The company wishes to announce that there are no changes to the
status of its plan to regularize its financial position since
the last announcement released by Southern Investment Bank
Berhad on the 30th December 2003, 7th January 2004 and 31st May
2004.

Thank you.

Yours faithfully
THE NORTH BORNEO CORPORATION BERHAD
ANDREW HENG
Director
1 July 2004


OCEAN CAPITAL: No Changes In Status of Restructuring Plan
---------------------------------------------------------
Ocean Capital Berhad (Ocean) releases its monthly status
announcement pursuant to paragraph 4.1(b) of the Practice Note
no. 4/2001 issued by Bursa Malaysia Securities Berhad (formerly
known as Malaysia Securities Exchange berhad) (Bursa Malaysia).

The company wishes to inform Bursa Malaysia that since our
previous announcement on 1 June 2004 in relation to the Proposed
Corporate Restructuring Exercise of Ocean, there has been no
change in the status of the plan.

This announcement is dated 1 July 2004.


OLYMPIA INDUSTRIES: Issues Status Of Restructuring Scheme
---------------------------------------------------------
Olympia Industries Berhad (OIB) issued to Bursa Malaysia
Securities Berhad its monthly status announcement pursuant to
Practice Note. 4/2001 in relation to paragraph 8.14 of the
Listing Requirements.

The Board of OIB wishes to announce that there is no major
change in the status of the Proposed Restructuring Scheme since
the last monthly status announcement on 1 June 2004. OIB is
currently working on the implementation of the Scheme.

This announcement is dated 1 July 2004.


PAN MALAYSIA: Updates Proposed Private Placement
------------------------------------------------
On behalf of Pan Malaysia Corp. Berhad (PMC), PM Securities Sdn
Bhd (PM Securities) is pleased to announce that the Board of
Directors of the Company proposes to undertake a private
placement exercise of up to 81,345,000 new ordinary shares of
RM0.50 each in PMC (Placement Shares) representing up to 10
percent of the enlarged issued and paid-up share capital of PMC.

The main purpose of the Proposed Private Placement is to provide
additional working capital to PMC and its subsidiaries and to
cover expenses arising from the Proposed Private Placement.

Please refer to the detailed announcement attached for further
information on the Proposed Private Placement.

This announcement is dated 1 July 2004

For more information, click
http://bankrupt.com/misc/panmalaysia070104.doc


PANCARAN IKRAB: Updates Status On Financial Condition
-----------------------------------------------------
Pancaran Ikrab Bhd (PIB) released to Bursa Malaysia Securities
Berhad its Monthly announcement pursuant to Paragraph 8.14 of
the Bursa Malaysia Securities Bhd Listing Requirements on the
Practice Note 4/2001 in relation to the status of PIB's plan to
regularise its financial position.

Reference is made to paragraph 4.1(b) of Practice Note 4/2001
whereby the affected listed issuer is required to announce the
status of its plan to regularise its financial position on a
monthly basis until further notice from Bursa Malaysia.

On 31st May, 2004, Bursa Malaysia had granted approval on the
listing of and quotation for the new Dceil International Berhad
shares and shortening of the notice period for the books closure
date in respect of the share exchange from 12 market days
pursuant paragraph 9.19(1) of the Listing Requirements to 3
clear market days.

On 4th June 2004, the Order from the High Court of Malaya
sanctioning the Proposed Scheme of Arrangement in respect of the
Proposed Share Exchange was lodged with the Companies Commission
of Malaysia.

On 29th June 2004, the Information Circular to Shareholders in
relation to the Share Exchange and the notice of the books
closure date was issued and circulated. A notice of the books
closure date was also advertised.

An appropriate announcement will be made accordingly in due
course.

This announcement is dated 1st July 2004.


PANGLOBAL BERHAD: SC Extends Implementation of Proposals
--------------------------------------------------------
Further to the announcement dated 31 May 2004, Avenue Securities
Sdn Bhd (Avenue) on behalf of Panglobal Berhad announced that
the Securities Commission had, via its letter dated 29 June 2004
(received on 1 July 2004) approved the extension of time to
implement the Proposals for a further period of one (1) year to
10 June 2005.

This announcement is dated 1 July 2004.


PM SECURITIES: Awaits Approval Of Restructuring Scheme of AHB
-------------------------------------------------------------
Actacorp Holdings Berhad (AHB) Monthly Announcement pursuant to
Practice Note No. 4/2001 of the Bursa Malaysia Securities
Berhad's Listing Requirements.

Further to the Company's announcement dated 1 June 2004, PM
Securities Sdn Bhd, on behalf of the Board of Directors of AHB
wishes to announce that the Company is presently awaiting for
the approvals of the Securities Commission and the Foreign
Investment Committee in relation to the Revised Proposed
Restructuring Scheme of AHB (as defined in our announcement
dated 8 April 2004). Any further development of the Revised
Proposed Restructuring Scheme of AHB will be announced in due
course.

This announcement is dated 1 July 2004.


SIN HENG: No Further Development On Restructuring Scheme
--------------------------------------------------------
Since the Sin Heng Chan (Malaya) Berhad's last announcement on
30 April 2004, the Company wishes to announce to Bursa Malaysia
Securities Berhad that there is no other changes to the status
of the Company's plan to regularize its financial condition. The
proposed Restructuring Scheme is currently pending
implementation.

The Company has on 30 June 2004 dispatched the Abridged
Prospectus and the Provisional Allotment Letter on the
Renounceable Rights Issue of up to 37,988,750 new ordinary
shares of RM1.00 each to the shareholders whose names appear in
the Record of Depositors and Register of Members as at 5.00 p.m.
on 24 June 2004.

The Company has also on 30 June 2004 issued a prospectus
highlighting the salient information relevant to the issuance
and disbursement of the ICULS and Warrants to the Unsecured
Scheme Creditors and one hundred selected holders.

Any further development to the Restructuring Scheme will be
announced in due course.

This announcement is dated 1st July 2004.


SRI HARTAMAS: Updates Status Of Financial Condition
---------------------------------------------------
Sri Hartamas Berhad refers to the Practice Note No. 4/2001 on
the criteria and obligations pursuant to paragraph 8.14 of the
Listing Requirements of Bursa Malaysia Securities Berhad.

The company hereby sets out below the monthly report for the
month of June 2004 for your kind attention:

"The Special Administrators of SHB wish to inform that there is
no change to our announcement made on 1 June 2004 on the status
of SHB's plan to regularize its financial condition.

On behalf of SHB, Commerce International Merchant Bankers Berhad
had on 31 May 2004 announced that the Securities Commission had,
via its letter dated 27 May 2004, which was received on 31 May
2004, granted its approval to SHB for an extension of time up to
31 December 2004 to complete the implementation of the Proposed
Scheme of Arrangement.

In this respect, the Special Administrators of SHB, the
management of FACB Resorts Berhad and the management of Hartamas
Group Berhad continue to take the necessary steps to fulfill all
the conditions relating to the Proposed Scheme of Arrangement of
SHB.

This announcement is dated 1 July 2004.

Should you require any further information or explanation,
please do not hesitate to contact the undersigned at 03-2095
3388 (ext. 8002) or Tan Kim Chuan (ext. 8101).

Yours faithfully
For and on behalf of
Sri Hartamas Berhad - Special Administrators Appointed
Ooi Woon Chee
Special Administrator


SRIWANI HOLDINGS: Updates Alternative Restructuring Plan
--------------------------------------------------------
On behalf of Sriwani Holdings Berhad (SHB), Commerce
International Merchant Bankers Berhad hereby announces that
Bursa Malaysia Securities Berhad (Bursa Securities) has through
its letter dated 30 June 2004 approved:

(i) The re-quotation for the SHB Shares on the Main Board of
Bursa Securities upon completion of the rights issue and
placement exercise (details of which were announced on 12 May
2004), subject to the condition that SHB has at least 15 percent
public shareholding spread; and

(ii) An extension of time of six (6) months from the completion
of the rights issue for SHB to comply with the minimum 25
percent public shareholding spread requirement.

For purpose of illustration, the public shareholding spread of
SHB shall change in the manner set out in Table A pursuant to
the Proposed Alternative Restructuring Plan.

The shortfall of 10 percent or such lower percentage depending
on the public shareholding spread which SHB may have achieved
prior to the re-quotation, shall be met through placement of
additional shares in SHB by the placement parties identified
earlier in the announcement made on 12 May 2004. There shall be
no other approval required from the relevant authorities to
implement the placement exercise.

The extension of time for compliance with the public
shareholding spread shall commence from the re-quotation of the
SHB shares upon completion of the right issue and shall lapse
six (6) months thereafter.

In addition, Bursa Securities also require SHB to make follow-up
announcements on a bi-monthly basis and no later than fourteen
(14) days from the expiry of the two (2)-month period on the
following:

(i) The status of its plan to meet the 25 percent public spread.
In this respect, SHB must explain the progress it has made
within the last two

(2) Months in relation to its plan to comply with the 25 percent
public spread;

(ii) If there has been no progress made, an explanation as to
the lack of progress; and

(iii) An explanation of any steps SHB has taken in respect of
its lack of progress.

This announcement is dated 1 July 2004.

For more information, click
http://bankrupt.com/misc/sriwaniholdings070104.doc


SRIWANI HOLDINGS: Issues Development on Financial Condition
-----------------------------------------------------------
In compliance with the requirements of Paragraph 4.1 (b) of PN
4/2001, Commerce International Merchant Bankers Berhad on behalf
of Sriwani Holdings Berhad (SHB), announced to Bursa Malaysia
Securities Berhad the following developments since the last
announcement on 1 June 2004 pertaining to SHB's plan to
regularize its financial condition:

(i) Securities Commission (on behalf of the Foreign Investment
Committee) has on 28 June 2004 approved certain revisions to the
existing plan of SHB to regularize its financial condition,
details of which have been announced on 29 June 2004; and

(ii) Bursa Securities has on 30 June 2004 approved the re-
quotation for the SHB shares on the Main Board of Bursa
Securities upon completion of the rights issue and placement
exercise, subject to SHB having at least 15 percent public
shareholding spread and an extension of time of six (6) months
from the completion of the rights issue for SHB to comply with
the minimum 25 percent public shareholding spread requirement,
further details of which have been set out in a separate
announcement made on 1 July 2004.

This announcement is dated 1 July 2004.


TALAM CORPORATION: SC Extends Time to Comply With Conditions
------------------------------------------------------------
Talam Corp. Berhad refers to its announcements dated 23 January
2003 and 7 May 2003 on the conditions imposed by the Securities
Commission (SC) on certain properties of Talam and Europlus.

On behalf of Talam, Commerce International Merchant Bankers
Berhad is pleased to announce that the SC had, via its letter
dated 24 June 2004 (which was received on 29 June 2004),
approved an extension of time from 2 May 2004 to 23 June 2005
for Talam to comply with the following conditions:

Property Description             Conditions

(1) P.T. 2730                    The ownership of the property
must
    Mukim of Hulu Yam            be transferred to Ulu Yam Golf
and
    District of Hulu Selangor    Country Club Sdn. Berhad

(2) P.T. 10752                   The ownership of the property
must
    Mukim of Tanjung Dua Belas   be transferred to Zillion
    District of Kuala Lumpur     Development Sdn Berhad
    Selangor

(3) State Land Lots 610,615      The outstanding land alienation
    and reserve land Section     premium must be settled.
    67 Town and District of
    Kuala Lumpur

(4) P.T. 2220                    The land lease must be duly
    Mukim of Ampang              registered at the Registry of
    District of Hulu Langat      Title.
    Selangor

The approval of the SC is subject to the following conditions:

(i) Written undertaking(s) given to the SC that the above
conditions will be met within one (1) year from 24 June 2004;

(ii) Announcements on the status of the above conditions be made
on Bursa Malaysia Securities Berhad on a quarterly basis; and

(iii) That the SC be informed of the status of the conditions at
the same time when the announcements are made.

This announcement is dated 30 June 2004.


UNITED CHEMICAL: Proposed Restructuring Subject To Approval
------------------------------------------------------------
Further to the announcements dated 2 April 2004 and 1 June 2004,
Alliance Merchant Bank Berhad, on behalf of the Board of
Directors of United Chemical Berhad (UCI), announced to Bursa
Malaysia Securities Berhad that save for the following, there is
no other major development to the Proposed Restructuring of UCI.

The members of Syarikat Majuperak Berhad, had on 23 June 2004,
in its Court Convened Meeting approved the scheme of
arrangement, involving the exchange of shares between Syarikat
Majuperak Berhad and Newco (Proposed Majuperak Scheme) in
accordance with the provisions of Section 176 (3) of the
Companies Act, 1965. The Proposed Majuperak Scheme forms one of
the proposals in the Proposed Restructuring of UCI.

The Proposed Restructuring of UCI is currently subject to the
following approvals:

- Foreign Investment Committee for the Proposed Restructuring;

- Creditors of UCI for the proposed debt restructuring of UCI
which is part of the Proposed UCI scheme;

- Shareholders of UCI for the Proposed Restructuring;

- The High Court of Malaya for the Proposed UCI Scheme; and

- The Bursa Malaysia Securities Berhad for the listing of and
quotation for the new ordinary shares in Newco and the
Irredeemable Convertible Preference shares to be issued pursuant
to the Proposed Restructuring.

This announcement is dated 1 July 2004.


WEMBLEY INDUSTRIES: Issues Update On Practice Note
--------------------------------------------------
Wembley Industries Holdings Berhad (WIHB) issued a status of
practice note 4/2001 (pn4) of the Kuala Lumpur Stock Exchange
Listing Requirements (LR)-July 2004.

(1) PN4

(1.1) On 23 February 2001, the Company announced to the Kuala
Lumpur Stock Exchange that the Company is an affected listed
issuer pursuant to Practice Note No. 4/2001 (PN4) as the
Auditors of the Company had expressed a disclaimer opinion of
the going concern of the Company and its subsidiaries. As an
affected listed issuer, the Company has its obligations under
PN4.

(1.2) The Requisite Announcement as required under PN4 was made
to the Exchange on 31 July 2002.

(1.3) The applications for its regularization plan were
submitted to the Securities Commission (SC) and Foreign
Investment Committee (FIC) on 29 October 2002.

On 7 January 2003, the FIC approved the Company's regularization
plan. Subsequently, on 7 April 2003 the FIC revised its approval
to include the possible participation of Daewoo Corporation, the
former turnkey contractor of Plaza Rakyat Project in the
Proposed Debt Restructuring.

As a result, the approval of FIC now includes the approval for
the additional RM112 million ICULS and 11.2 million warrants to
be issued to Daewoo Corporation (in the event Daewoo
participates in the Proposed Debt Restructuring).

The condition that the FIC would review the equity structure of
the WIHB shares 3 year after the completion of the proposals
remains the same. The revised approval supercedes the approval
dated 7 January 2003.

On 27 January 2003, the SC approved the regularization plan
subject to the conditions as set out in the SC's approval letter
dated the same. The details of the SC's conditions are set out
in the Company's announcement dated 5 February 2003.

On 13 January 2004, Alliance Merchant Bank Berhad (Alliance)
announced on behalf of the Company certain revisions to the
Company's regularization plan. The application to the SC for the
said revisions will be made within two (2) months from 13
January 2004.

On 16 January 2004, the SC further approved an extension of time
of one (1) year to 27 January 2005 for the Company to complete
the implementation of its regularization plan following an
application made by Alliance.

On 12 March 2004, Alliance announced on behalf of the Company
further revisions to the Company's regularization plan. The
application to the SC for the said revisions will be made by
within one (1) month from 12 March 2004.

On 12 April 2004, Alliance announced on behalf of the Company
that the Company intends to submit the application to the SC
within one (1) month from 12 April 2004, after incorporating its
latest audited results for the financial year ended 31 December
2003.

On 13 May 2004, the Company further announced that the terms and
conditions of the Debt Restructuring Agreement (DRA) have been
agreed upon and signed by all the financial institutions and
creditors participating in the Proposed Debt Restructuring
except for one creditor.

The Company is currently making strenuous efforts to resolve an
outstanding issue with the said creditor prior to the signing of
the DRA. The Company expects the said issue to be resolved soon.

As such, the Company's application to the SC in respect of the
proposed revision to the Company's regularization plan will be
submitted after the signing of the DRA by the said creditor.

(1.4) The regularization plan is now pending the approvals of
the shareholders of the Company and any other relevant
authorities.

(1.5) The Company has received a notice dated 2 January 2003
from the Exchange noting that the Company has failed to obtain
all regulatory approvals necessary for the implementation of its
regularization plan by 31 December 2002 pursuant to paragraph
5.0 of PN4.

Given the above, the Exchange has suspended the trading of the
securities of the Company pursuant to paragraphs 8.14 and 16.02
of the Listing Requirements effective 9:00 a.m., Friday, 10
January 2003 until further notice.

(2.0) INVESTIGATIVE AUDIT

(2.1) On 26 March 2003, the Company announced that it had on 22
March 2003 appointed Messrs Horwath, Kuala Lumpur Office as the
independent audit firm to carry out an investigative audit on
the previous losses incurred by the Company. The said
appointment is in compliance with one of the conditions imposed
by the SC in approving the Company's regularisation plan. The
Investigative Audit is required to be completed within 6 months
from the date of appointment.

On 22 December 2003, Alliance announced that the Company had
sought for a further extension of time from the SC until 22 June
2004 for Messrs Horwath to complete the investigative audit of
WIHB. The SC had vide its letter dated 7 January 2004 approved
the extension of time until 22 March 2004 to complete the
investigative audit.

The said approval granted by the SC is subject to the condition
that Messrs Horwath is required to furnish to the SC a monthly
report in relation to the development of the investigative audit
on WIHB.

On 22 March 2004, Alliance announced that an application to the
SC was made for a further extension of time until 22 September
2004 for Messrs Horwath to complete the investigative audit of
WIHB. The SC had vide its letter dated 2 June 2004 approved the
extension of time until 22 September 2004 to complete the
investigative audit. The said extension will be the final
extension of time for WIHB to complete its investigation audit.

(3.0) OTHER MATTERS IN RESPECT OF PRACTICE NOTE NO. 10/2001
(PN10)

(3.1) On 7 September 2001, the Company announced to the Exchange
that the Company is deemed an affected listed issuers pursuant
to paragraph 2.1(c) of PN10. Under paragraph 2.1(c) of PN10, a
listed issuer, who has insignificant business or operations, is
deemed to have inadequate level of operations.

Insignificant business or operations means business or
operations, which generates revenue on a consolidated basis that
represents 5 percent or less of the issued and paid up share
capital of the listed issuer.

(3.2) As an affected listed issuer under PN10, the Company must
comply with the obligations set out in paragraph 6 of PN10. The
Exchange has informed the Company that since the Company is also
an affected listed issuer under PN4, the requirements and
obligations of PN4 would prevail over those of PN10.

It is expected that the Company's regularization plan would
address both its financial condition (PN4) and the level of
operations (PN10) to warrant a continuing listing on the
Official List.

This announcement is dated 1 July 2004.


WOO HING: Details Date of Announcements  
---------------------------------------
The Special Administrators of Woo Hing Brothers (Malaya) Berhad
inform that the following has been announced to Bursa Malaysia
Securities Berhad on behalf of the Company:

Details Date of Announcement

The special resolution for the creditors' voluntary liquidation
(CVL) of Soon Hee Goldsmith Jewellery Sdn Berhad was approved by
the shareholders present at the Adjourned Extraordinary General
Meeting held on 9 June 2004. June 9, 2004

The final meetings of the members and creditors for the eleven
(11) wholly owned subsidiaries (under CVL) of the Company were
duly convened on 22 and 23 June 2004 respectively. June 28, 2004

Yours faithfully
HENG JI KENG
Special Administrator
Date: 1 July 2004


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


NATIONAL POWER: BOT Contract With Ormat Ends
--------------------------------------------
The 10-year cooperation period for the build-operate-transfer
(BOT) contract between National Power Corp. (Napocor) and U.S.-
based power giant Ormat Inc., has officially ended, the
Philippine Star reports.

The operations of the 15.73-megawatt (MW) Makiling-Banahaw (Mak-
Ban) binary geothermal power plant have been turned over to
Napocor. If Napocor decides not to run the plant, the facility
will be offered for sale or would be placed under the care of
its Assets Preservation Department.

The Makban binary located in Barrio Bitin, a town in Bay,
Laguna, consists of five units with an installed capacity of
three megawatts each, and one 0.73-MW unit. The plant started
its operations on June 30, 1994.

Ormat Inc.'s other projects in the Philippines include the 49-MW
Leyte geothermal optimization project, which is owned and
operated by Ormat Leyte Co. Ltd., and the 125-MW Upper Mahiao
combined-cycle geothermal power plant, also in Leyte, which is
owned and operated by a subsidiary of CalEnergy Co. Inc.

Ormat ranks as the third-biggest geothermal independent power
producer (IPP) in the United States.


PHILIPPINE LONG: Issues Clarification To News Article
-----------------------------------------------------
Philippine Long Distance Telephone Co. (PLDT) refers to the fax
letter requesting the company to confirm the veracity of the
information contained in the news article entitled "PLDT agrees
to sell Piltel stake to Smart", published in the July 2, 2004
issue of The Philippine Star (Internet Edition).

Attached is a press announcement that addresses the matters set
out in the above news report.

In addition, the company advises that Smart Communications, Inc.
is presently clarifying the necessity of and, if applicable, the
timing and other requirements relating to a tender offer.

For more information, click
http://bankrupt.com/misc/PHILIPPINELONG070104.pdf


PILIPINO TELEPHONE: Board Approves Capital Increase to PhP12.8B
---------------------------------------------------------------
Pilipino Telephone Co. (Piltel) has gained board approval for
its plans to raise the firm's authorized capital stock to
PhP12.8 billion from PhP3.5 billion on Thursday, BusinessWorld
reports.  

The capital stock increase is in line with the telco's move to
accommodate creditors wishing to convert their preferred shares
to common shares. Piltel will also seek the shareholders'
approval in a special meeting on September 3.

With the move, the PhP12.8-billion authorized capital stock
would be divided into 12.06 billion common shares with a PhP1
par value, 120 million Class I preferred shares at PhP2 par
value, and 500 million Class II preferred shares at PhP1 par
value. Under the current setup, only 2.760 billion shares are
classified as common stock at PhP1 par value.

According to an analyst, the capital stock increase would assure
holders of preferred shares that they could really convert their
shares into common shares.

Pitel restructured its PhP41-billion debt in 2001, wherein 50
percent of its debt was cancelled in exchange for convertible
preferred shares of Philippine Long Distance Telephone Co.
(PLDT).

Contact:

Pilipino Telephone Corp.
25/F, Smart Tower
6799 Ayala Ave., Makati City
Telephone Numbers:  511-6121/6241
Fax Number:  817-3345
Email Address: dntan@smart.com.ph


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


AGB TELEVISION: Creditors Must Submit Claims on August 2
--------------------------------------------------------
Notice is hereby given that the creditors of AGB Television Asia
Pacific Pte Ltd, which is being wound up voluntarily, are
required on or before August 2, 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 from the said Liquidator, are by
their solicitors, or personally, to come in and prove their said
debts or claims at such time and place as shall be specified in
such notice, or in default thereof they will be excluded from
the benefit of any distribution made before such debts are
proved.

LOKE POH KEUN
Liquidator.
c/o 8 Cross Street
#17-00 PWC Building
Singapore 048424.

This Singapore Government Gazette Announcement is dated July 2,
2004.


ASTRO CONSTRUCTION: Releases Notice Dividend Notice
---------------------------------------------------
Astro Construction & Engineering Pte Ltd issues notice of
dividend.

Address of Registered Office : Formerly of 10 Jln Besar
#10-02 Sim Lim Tower
Singapore 208787.

Court: Supreme Court, Singapore.

Number of Matter: Companies Winding Up No. 51 of 1993.

Amount Per Centum: 31.284%.

First and Final or otherwise: First & Final Dividend.

When Payable: 23rd June 2004.

Where Payable: The Official Receiver
The URA Centre (East Wing)
45 Maxwell Road #06-11
Singapore 069118.


MOEY WENG FOO
Assistant Official Receiver.

This Singapore Government Gazette Announcement is dated July 2,
2004.


ASV TECHNOLOGY: Issues Notice of Intended Dividend
--------------------------------------------------
ASV Technology and Manufacturing  (S) Pte Ltd, which is in
Creditor's Voluntary Liquidation, releases notice of Intended
Dividend.

Address of registered office: 105 Tampines Road
#06-02/01 Wing Tai Industries Centre
Singapore 535127.

Last day for receiving proofs: July 29, 2004.

Name of liquidators: CHEE YOH CHUANG & LIM LEE MENG.

Address of liquidators: c/o Chio Lim & Associates
18 Cross Street
#08-01 Marsh & McLennan Centre
Singapore 048423.

CHEE YOH CHUANG
LIM LEE MENG
Liquidators.

This Singapore Government Gazette announcement is dated June 30,
2004.


CHARTERED SEMICONDUCTOR: Announces Director's Interests Change
--------------------------------------------------------------
Following is a Notice Of Change In Interests of Subsidiary
Company's Director in Related Corporation filed by Chartered
Semiconductor Manufacturing Ltd. with the Singapore Exchange:

Part I

(1) Date of notice to issuer: June 29, 2004

(2) Name of Director: Tan Ai Ching

(3) Please tick one or more appropriate box (es): a Director's
(including a director who is a substantial shareholder) Interest
and Change in Interest.
     [Please complete Parts II and IV]
     [Please complete Parts III and IV]

Part II

(1) Date of change of interest: June 25, 2004

(2) Name of Registered Holder:CDP: Tan Ai Ching

(3) Circumstance(s) giving rise to the interest or change in
interest: Others
Please specify details: Purchase of shares in the capital of
TeleChoice International Ltd IPO, a related corporation of
Chartered Semiconductor Manufacturing Ltd.

(4) Information relating to shares held in the name of the
Registered Holder: -
No. of shares held before the change:0

As a percentage of issued share capital:0

No. of shares which are the subject of this notice:18,000

As a percentage of issued share capital:0.0041

Amount of consideration (excluding brokerage and stamp duties)
per share paid or received:$0.29

No. of shares held after the change:18,000

As a percentage of issued share capital:0.0041

Part III

(1) Date of change of interest:

(2) The change in the percentage level: From % to %

(3) Circumstance(s) giving rise to the interest or change in
interest:
(4) A statement of whether the change in the percentage level is
the result of a transaction or
a series of transactions.

Part IV

(1) Holdings of Director, including direct and deemed interest:
Ms Tan Ai Ching is a Director of Chartered Silicon Partners Pte
Ltd, a subsidiary of Chartered Semiconductor Manufacturing Ltd.

Amount of consideration is denominated in Singapore dollars
unless otherwise noted.
      

CHUAN ENG: Winding Up Hearing Set July 16
-----------------------------------------
Notice is hereby given that a petition for the winding up of
Chuan Eng Seng Trading (Pte) Ltd. by the High Court was, on June
22, 2004, presented by MALAYAN BANKING BERHAD, a creditor. The
petition is directed to be heard before the Court sitting at the
High Court of Singapore at 10.00 a.m. in the forenoon, on July
16, 2004.

Any creditor or contributory of the company desiring to support
or oppose the making of an order on the 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 company requiring the copy of the petition
by the undersigned on payment of the regulated charge for the
same.

The Petitioner's address is at No. 2 Battery Road, #01-01
Maybank Tower, Singapore 049907.

The Petitioner's solicitors are Messrs Shook Lin & Bok of 1
Robinson Road, #18-00, AIA Tower, Singapore 048542.

Messrs SHOOK LIN & BOK
Solicitors for the Petitioners.

Note: Any person who intends to appear on the hearing of the
petition must serve on or send by post to the Petitioner's
solicitors, notice in writing of his intention to do so. 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, 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 12 o'clock noon of
July 15, 2004 (the day before the day appointed for the hearing
of the petition).


INFORMATICS HOLDINGS: Shares Up 36% Despite Full-year Loss
----------------------------------------------------------
Shares of education services provider Informatics Holdings
surged 36 percent to 43.5 cents despite Wednesday's revision of
its financial statement showing losses double than the estimated
amount.

According to Channel News Asia, 128 million shares changed hands
Wednesday, making Informatics the most actively traded on the
Singapore bourse.  The brisk trading defied gloomy expectations
following Ernst & Young's observation that the company may not
be able to continue its operation without outside help.

There were talks that businessman Oei Hong Leong bought most of
the shares since he had agreed to inject SGD15.7 million into
the firm in exchange for 62.7 million new shares, making him the
largest shareholder of the company with a 23.6% stake.

Informatics, however, claims it is unaware of the reason for the
unusual price movement.


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


TANAYONG: SET Suspends Securities Trading
-----------------------------------------D
Tanayong PCL (TYONG) has submitted to the SET its audited
financial statement for the period ending 31 March 2004 and the
company's auditor reported a disclaimer opinion on the financial
statement. This appears that the auditor issued a disclaimer
opinion on the financial statement of TYONG for 3 consecutive
years, which would cause a possible delisting.

Presently, the securities of TYONG are under REHABCO sector and
TYONG is in the process of preparing the rehabilitation plan
under the Bankruptcy Act. Hence, the SET proceeds to announce
additional cause of possible delisting in the case that the
company's auditor reported a disclaimer opinion for 3
consecutive years. TYONG must fix its qualifying status as the
SET listed company.

In case where TYONG's auditor reported a disclaimer opinion on
its audited financial statement for the period ending 31 March
2004, it can be considered that the numbers, which represent the
company' s financial status and operating outcome as presented
in the financial statement, failed to adequately and/or properly
reflect the actual position of TYONG.

Due to these discrepancies, the Securities and Exchange
Commission (SEC) required TYONG to amend its financial statement
on the issues raised by its auditor.

Therefore, the SET has posted an SP (Suspension) sign to suspend
trading on the securities of TYONG on 2 July 2004 to enable
shareholders and general investors to have sufficient time to
scrutinize the auditor's report on the review of its financial
statement.

However, the SET will post an NP (Notice Pending) sign on 5
July 2004 until TYONG has the opportunity to submit its amended
financial statement or the SEC concludes that it will not be
necessary to amend its financial statement.

The SET has still suspended trading on the securities of TYONG
in view of the fact that TYONG must prepare a rehabilitation
plan.


                            *********


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, Reiza
Dejito, 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
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