---

        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, July 13, 2004, Vol. 7, No. 137

                            Headlines

A U S T R A L I A

HIH INSURANCE: Creditors' Dividend Possible Next Year
MITSUBISHI AUSTRALIA: Starwagon Brake Issue Prompts Recall
PAN PHARMACEUTICALS: Founder Ordered To Appear In Court
WAREHOUSE GROUP: Australia Exit Could Cause NZ$250mln Loss


C H I N A  &  H O N G  K O N G

ANEX FURNISHINGS: Winding Up Petition Slated July 28
BEAUTIFUL LIFE: Enters Winding Up Proceedings
CHAMPION POINT: Winding Up Hearing Scheduled July 28
JANELL LIMITED: Winding Up Hearing Set July 21
WAI YUEN: Net Loss Widens to HK$30M

WINSOME HOLDINGS: Court Sets Winding Up Hearing on July 21


I N D O N E S I A

PERTAMINA: Faces Graft Investigation
PRUDENTIAL LIFE: High Court Junks Second Bankruptcy Petition
SEMEN GRESIK: Cement Sales Rise 20%


J A P A N

MITSUBISHI FUSO: Admits Including False Info In Defect Report
MITSUBISHI MOTORS: Okazaki Plant Staff May Be Hired by Toyota


K O R E A

HYNIX SEMICONDUCTOR: Creditors To Debate $870mln debt deal
JINRO LIMITED: Eyed By Wire Company
SSANGYONG MOTOR: Report Says Automaker May Accept SAIC Bid


M A L A Y S I A

BERJAYA GROUP: Issues Proposals Update
CONSOLIDATED FARMS: Posts Update On Practice Note 1/2001
FOUNTAIN VIEW: Issues Additional 188,363 Ordinary Shares
GADANG HOLDINGS: Incorporates New Subsidiary
JIN LIN: BMSB Imposes Fine of RM10,000

KSU HOLDINGS: Fined RM200,000 By Bursa Malaysia
KSU HOLDINGS: Issues Update on D6 Suit
LANKHORST BERHAD: Posts Accounts Update
MALAYSIAN INDUSTRIAL: BMSB To Grant Listing Of 35,000 Shares
NAIM INDAH: Sees Return To Profit This Year

NYLEX BERHAD: Issues Additional 64,427,000 Ordinary Shares
OCEAN CAPITAL: Issues Update On Proposals
RCE CAPITAL: BMSB Approves Application For Extension of Time
SIME DARBY: BMSB To Grant Listing of 8,000 Ordinary Shares
TANJONG PUBLIC: Issues Additional 67,000 Ordinary Shares

TELEKOM MALAYSIA: BMSB To Grant Listing Of 2,897,000 Shares
WAH SEONG: Details Initial Issuance of RM200.0Mln CP's


P H I L I P P I N E S

COLLEGE ASSURANCE: Needs US$100 Million to Stay Liquid
NEGROS NAVIGATION: Creditor Says 10-Yr. Rehab Plan "Too Long"
PHILIPPINE LONG: Increases Broadband Subscriber Base
PHILIPPINE LONG: PSE Sets Listing of 4,157 Common Shares Today
PILIPINO TELEPHONE: Issues Additional 820,250,000 Common Shares

UNION CEMENT: Details Ownership Structure of UCHC's Shares
ZIPPORAH REALTY: Unveils Annual Stockholders Meeting Results


S I N G A P O R E

CHUAN & CO: Issues Notice of Intention to Declare Dividend
DAEWOO SINGAPORE: Winding Up Order Made
FAILSAFE CORPORATION: Releases Dividend Notice
HATHAWAY CAPITAL: Creditors Must Submit Claims on August 12
INFORMATICS HOLDINGS: Shares Down 6% Upon Trade Resumption

INFORMATICS HOLDINGS: Shareholders Lash Out at Directors
I.R.E. CORPORATION: Announces Debt and Equity Restructuring Plan
STAMFLES REMOTE: Receives Winding Up Order
VINES SERVICES: Creditors To Prove Debts by August 10


T H A I L A N D

TPI POLENE: Releases 2Q 2004 Unreviewed Operating Results
* BOND PRICING: For the Week 12 July to July 16, 2004

     -  -  -  -  -  -  -  -  -

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


HIH INSURANCE: Creditors' Dividend Possible Next Year
-----------------------------------------------------
The liquidator of collapsed insurance giant HIH said Sunday the
firm's creditors might receive a dividend by early 2005, reports
The Australian.

According to HIH liquidator Tony McGrath, the only way HIH can
pay a dividend, given the very complex nature of its
liquidation, is through the implementation of a Scheme of
Arrangement. "That's at quite an advanced stage and our full
expectation is that the scheme will be approved before the end
of this year and that dividends will be paid shortly
thereafter," he said.

He estimated total dividends to creditors at up to 20› in the
dollar.


MITSUBISHI AUSTRALIA: Starwagon Brake Issue Prompts Recall
----------------------------------------------------------
A potential brake problem in its Starwagon line of vehicles has
prompted Mitsubishi Motors Australia to recall some 288 of the
said car models, reveals Asia Intelligence Wire.

In a statement, the company said there was a possibility the
left-hand rear brake pipe could come in contact with the shock
absorber while driving, damaging the brake pipe. "In the worst
case, the brake pipe assembly may leak resulting in the loss of
braking performance," Mitsubishi said.

The recall would affect WA Starwagons built before September
1994, including models WAOM35, WAOH35 and WAOP95, the company
said.

Mitsubishi said it was notifying the owners of the affected
vehicles by mail, asking them to have their vehicles inspected
by an authorized Mitsubishi dealer. A replacement brake pipe
would be fitted for free once deemed necessary.


PAN PHARMACEUTICALS: Founder Ordered To Appear In Court
-------------------------------------------------------
For the second time, the founder of PAN Pharmaceuticals, along
with the company auditor, have been ordered to appear in court
this week to give evidence about the collapse of the Sydney-
based pharmaceutical company in April last year, reported The
Australian on Saturday.

PAN founder Jim Selim and his auditor and accountant Geoff
Hartigan will be deposed by lawyers for liquidator Tony McGrath,
who is seeking to make the former chemist and chief executive
pay for the loss and damage caused to Pan and its creditors over
the recall of 1600 alternative medicines. Total debts owing to
creditors have been estimated at $190 million.

Mr. Hartigan's lawyer, Kerry Eassie, handed over three volumes
of documents to the liquidator yesterday.  Mr. Selim was also
asked to provide records but his lawyer, Stephen Stanton, said
he had none that fitted the description set out in the legal
order.

According to Peter Wilms, Mr Selim's spokesman, Mr. McGrath
sought files related to Mr. Selim's $6 million plan to build a
pharmaceutical company in Ho Chi Minh City in Vietnam.


WAREHOUSE GROUP: Australia Exit Could Cause NZ$250mln Loss
----------------------------------------------------------
Should The Warehouse Group decide to pull the plug on its
poorly-performing Australian stores, the discount retailer could
book losses of up to NZ$250 million, reports Dow Jones, citing a
New Zealand Herald report.

According to the Herald report, The Warehouse would most likely
exit Australia through asset sales, knocking between NZ$180
million and NZ$250 million off its balance sheet. The retailer,
however, has said it will reassess the viability of its
Australian stores in 2006

An ABN AMRO report calculated the "worst-case scenario" -
liquidation in Australia - would cost between NZ$400 million and
NZ$500 million, or NZ$1.31 to NZ$1.64 a share.


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


ANEX FURNISHINGS: Winding Up Petition Slated July 28
----------------------------------------------------
A Petition for the Winding up of Anex Furnishings Limited by the
High Court of Hong Kong was, on June 9, 2004, presented to the
said Court by Cheung Chi Man of Room 4, 3/F., Chung Kin
Building, 80 Kok Cheung Street, Tai Kok Tsui, Kowloon, Hong
Kong.

The said Petition will be heard before the Court at 9:30 am on
July 28, 2004.

Any creditor or contributory of the said company desirous to
support or oppose the making of an order on the said petition
may appear at the time of hearing by himself or his counsel for
that purpose. A copy of the petition will be furnished to any
creditor or contributory of the said company requiring the same
by the undersigned on payment of the regulated charge for the
same.

Ms. ADA CHAU MING WAI
For Director of Legal Aid
34th Floor, Hopewell Centre
183 Queen's Road East, Wanchai
Hong Kong

Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention 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 27th day of July
2004


BEAUTIFUL LIFE: Enters Winding Up Proceedings
---------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Beautiful Life Wedding Service Centre Limited by the High Court
of Hong Kong was, on June 4, 2004, presented to the said Court
by Tam Kin Yan of Room 19, 28/F., Hin Hing House, Hin Keng
Estate, Shatin, New Territories, Hong Kong.

The said Petition will be heard before the Court at 10:00 am on
July 21, 2004.

Any creditor or contributory of the said company desirous to
support or oppose the making of an order on the said petition
may appear at the time of hearing by himself or his counsel for
that purpose. A copy of the petition will be furnished to any
creditor or contributory of the said company requiring the same
by the undersigned on payment of the regulated charge for the
same.

Ms. ADA CHAU MING WAI
For Director of Legal Aid
34th Floor, Hopewell Centre
183 Queen's Road East, Wanchai
Hong Kong

Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention 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 20th day of July
2004.


CHAMPION POINT: Winding Up Hearing Scheduled July 28
----------------------------------------------------
Notice is given that a Petition for the Winding up of Champion
Point Investments Limited by the High Court of Hong Kong was, on
June 9, 2004, presented to the said Court by Chung Mo Ching of
Room 13, 22/F., Sui Lung House, Siu Sai Wan Estate, Siu Sai Wan,
Chai Wan, Hong Kong.

The said Petition will be heard before the Court at 9:30 am on
July 28, 2004.

Any creditor or contributory of the said company desirous to
support or oppose the making of an order on the said petition
may appear at the time of hearing by himself or his counsel for
that purpose. A copy of the petition will be furnished to any
creditor or contributory of the said company requiring the same
by the undersigned on payment of the regulated charge for the
same.

Ms. ADA CHAU MING WAI
For Director of Legal Aid
34th Floor, Hopewell Centre
183 Queen's Road East, Wanchai
Hong Kong

Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention 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 27th day of July
2004.


JANELL LIMITED: Winding Up Hearing Set July 21
----------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Janell Limited by the High Court of Hong Kong was, on May 28,
2004, presented to the said Court by Lai Chi Shing of Room 1602,
16/F., Pok On House, Pok Hong Estate, Shatin, New Territories,
Hong Kong.

The said Petition will be heard before the Court at 9:30 am on
July 21, 2004.

Any creditor or contributory of the said company desirous to
support or oppose the making of an order on the said petition
may appear at the time of hearing by himself or his counsel for
that purpose. A copy of the petition will be furnished to any
creditor or contributory of the said company requiring the same
by the undersigned on payment of the regulated charge for the
same.

Ms. ADA CHAU MING WAI
For Director of Legal Aid
34th Floor, Hopewell Centre
183 Queen's Road East, Wanchai
Hong Kong

Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention 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 20th day of July
2004.


WAI YUEN: Net Loss Widens to HK$30M
-----------------------------------
According to Infocast News, Wai Yuen Tong Medicine Holdings
Limited reported a net loss of HK$30.006 million for the fiscal
year ending March 31, compared with a net loss of HK$28.946
million a year ago. Loss per share was HK$0.1 and no final
dividend was declared.


WINSOME HOLDINGS: Court Sets Winding Up Hearing on July 21
----------------------------------------------------------
Notice is given that a Petition for the Winding up of Winsome
Holdings Limited by the High Court of Hong Kong was, on June 2,
2004, presented to the said Court by Lo Kin Sing of Flat B,
4/F., Po Ming Building, No. 2 Fu Ming Street, Causeway Bay, Hong
Kong.

The said Petition will be heard before the Court at 10:00 am on
July 21, 2004.

Any creditor or contributory of the said company desirous to
support or oppose the making of an order on the said petition
may appear at the time of hearing by himself or his counsel for
that purpose. A copy of the petition will be furnished to any
creditor or contributory of the said company requiring the same
by the undersigned on payment of the regulated charge for the
same.

Ms. ADA CHAU MING WAI
For Director of Legal Aid
34th Floor, Hopewell Centre
183 Queen's Road East, Wanchai
Hong Kong

Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention 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 20th day of July
2004.


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


PERTAMINA: Faces Graft Investigation
------------------------------------
The Jakarta police are now pursuing leads in relation to their
investigation on a questionable auction conducted by PT
Pertamina last year, The Jakarta Post reported over the weekend.

According to the paper, the police have grilled at least three
company officials about the transaction that saw the sale of six
ships instead of five.  The three allegedly arranged the auction
of the used ships in July 2003.

Under the law, any auction involving assets of state enterprises
should be authorized by the Directorate General for State
Auctions, a unit at the Ministry of Finance.   According to
police Spokesman Sr. Comr. Prasetyo, the ministry had permitted
the auction of only five ships.

"Besides Pertamina officials, we have also questioned the winner
of the auction and an official from the Ministry of Finance,"
Sr. Comr. Prasetyo said on Friday.

Investigators did not divulge the amount the government may have
lost from the alleged graft.


PRUDENTIAL LIFE: High Court Junks Second Bankruptcy Petition
------------------------------------------------------------
The Supreme Court of Indonesia shot down a petition seeking to
declare PT Prudential Life bankrupt, The Jakarta Post reported
over the weekend.

The case was filed before the same district court that declared
the company bankrupt in May.  Filed by the widow and heirs of Ng
Sek Ngie, the Supreme Court dismissed the case for lack of
merit.

Before Mr. Ng's death in January 2003, he had taken an insurance
policy with Prudential that guaranteed indemnity of IDR350
million (US$38,888) upon his death and monthly benefits
thereafter.  Mrs. Ng, along with sons Davin and Dick Sigmund,
told the Central Jakarta District Court on Tuesday that the
company had failed to honor the monthly payments that have now
amounted IDR16,125,003.  She said the company stopped paying the
monthly allotment in October 2003.

In elevating the case to the Supreme Court, Prudential vice
president for corporate marketing and communication, Nini
Sumohandoyo, defended the company's decision, citing "proven
deceit" on the part of Mr. Ng.

"From our investigation, the insured, Ng Sek Ngie, turned out to
have given false statements about his health when signing the
policy.  As stated in the policy itself, any false statements
will lead to termination of the agreement," Ms. Nini told The
Jakarta Post.

"We found out that he had had a serious illness and had been
receiving medical treatment and was hospitalized before signing
the policy.  Had we known that, we wouldn't have issued the
policy," she added.

She said it is not true that the company failed to honor the
policy.  In fact, it immediately paid the IDR350 million death
claim and released the monthly allotment until September last
year, when it discovered the fraud.

Oscar Sagita, the lawyer of Mrs. Ng, believes the policy remains
valid and demandable.  He also blames the company for not
investigating thoroughly Mr. Ng's medical history.

"Prudential paid the insurance money and started paying the
benefits in June 2003, as they said they had to investigate the
claim first.  In March 2003, Prudential signed a statement
saying they would pay the insurance and the benefits, and no
cancellation of that agreement has been made until now," he
said, in an interview with The Post.

The Supreme Court sided with Prudential on Thursday and reversed
the decision of the district court to accept the lawsuit.


SEMEN GRESIK: Cement Sales Rise 20%
-----------------------------------
Massive government projects have brought about a 20-percent
boost in PT Semen Gresik's sales in the first half of this year,
The Jakarta Post reports.

According Gresik's corporate secretary Soebagyo, cement sales
swelled to 3.5 million tons from the previous 2.9 million tons.
This figure, however, does not include transactions of units PT
Semen Padang and PT Semen Tonasa. Gresik also saw its local
market share rise from 21 percent last year to 23 percent.

Semen Gresik, Indonesia's largest cement maker, will exclusively
distribute 300,000 tons of cement priced at IDR400,000 per ton
over the next four years for the IDR2.83 trillion (US$350
million) Suramadu project. The said project involves
construction of Indonesia's longest 5.4-kilometer bridge
connecting Java with Madura island.

Gresik had likewise sealed a deal to supply cement for the
development of Juanda International Airport and the construction
of Surabaya outer ring road.


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


MITSUBISHI FUSO: Admits Including False Info In Defect Report
-------------------------------------------------------------
Scandal-plagued Mitsubishi Fuso Truck & Bus Corp has confessed
Friday that the progress report on vehicle recalls it announced
Thursday included false data on the seriousness of a truck
defect, relates Kyodo News.

According to Mitsubishi Fuso, its Thursday report said cracks of
only 10 and 11 centimeters were found on clutch housings in
three of its large trucks. The company, however, admitted that
the concerned housings were actually fractured and made two of
the three trucks inoperable.


MITSUBISHI MOTORS: Okazaki Plant Staff May Be Hired by Toyota
-------------------------------------------------------------
The skilled assembly workers of Mitsubishi Motors Corp.'s soon-
to-close factory in Okazaki, Aichi Prefecture, may find
themselves working at Toyota Motor Corp.'s plant in the
prefecture, reported The Japan Times on Friday, quoting Toyota
officials.

According to a Toyota spokesman, they "have begun considering
(accepting them) informally by taking into account the impact on
the regional economy" of a planned shutdown of MMC's Okazaki
assembly plant.

As part of its restructuring efforts, MMC said in May that it is
planning to shut down the Okazaki factory by the end of 2005.
The company also said that the automaker plans to transfer by
next year's end 1,260 of the 1,600 Okazaki workers to another
factory in Kurashiki, Okayama Prefecture.


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


HYNIX SEMICONDUCTOR: Creditors To Debate $870mln debt deal
----------------------------------------------------------
The creditors of South Korean chip maker Hynix Semiconductor
Inc. are set to discuss today the sale of over $870 million of
Hynix's debt to the chip maker at discount, reports Reuters,
citing Hynix's main creditor, Korea Exchange Bank (KEB).

In a statement, KEB said creditors will discuss today a plan
that would allow Hynix to buy out its debt using some of the
proceeds from the planned sale of its non-core chip unit to a
Citigroup Inc. (C.N) fund for KRW954.3 billion (US$829.8
million), as agreed earlier.

According to a KEB official, Hynix could pay down its US$3
billion debt by more than KRW1 trillion once creditors give the
plan their approval. "The deal size depends on how much debt
each creditor will put up for sale, but we expect over one
trillion won (in book value)," he said.

Hynix, the world's third-largest memory chip maker, is 81-
percent owned by creditors, following several multi-billion-
dollar bailouts. In June, the creditors accepted a bid by
Citigroup Venture Capital to buy Hynix's specialized chip
division and are set to provide part of the financing.


JINRO LIMITED: Eyed By Wire Company
-----------------------------------
Taihan Electric Wire Co. is planning to participate in the
bidding for Jinro Ltd, South Korea's largest spirits distiller,
reports The Korea Herald.

Taihan, a leading producer of cables and wires, is already
Jinro's second-largest shareholder after buying KRW350 billion
of Jinro bonds last year. It is also the spirits maker's largest
secured creditor, holding more than 70 percent of the company's
debt.

Taihan Electric Wire is the flagship affiliate of Taihan
Electric Wire Group, Korea's 29th-largest conglomerate with
KRW3.1 trillion in assets.

Jinro Ltd is currently under court receivership.


SSANGYONG MOTOR: Report Says Automaker May Accept SAIC Bid
----------------------------------------------------------
The Chosun daily reported Friday that China's Shanghai
Automotive Industry Corp (SAIC) has already been selected as the
preferred bidder to acquire bankrupt South Korean automaker
Ssangyong Motor Co.

Citing an unidentified banking official, the Chosun report said
the selection of SAIC as the preferred bidder would be formally
announced by the firm's creditors this week. The report also
revealed that SAIC's bid was lower than that previously proposed
by China National Bluestar Corp.

SAIC and another unidentified consortium were selected by
Chohung Bank and other key creditors as the top two candidates
to take over Ssangyong Motor.


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


BERJAYA GROUP: Issues Proposals Update
--------------------------------------
Berjaya Group Berhad issued to Bursa Malaysia Securities Berhad
an update on 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 RM1.00
each in HBCorp (HBCorp share) and RM2.60 per warrant issued by
HBCorp (HBCorp Warrant) (proposed HBCorp disposal);

- 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 (proposed Hyumal disposal); 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 RM1.00
each in Inokom (proposed Inokom disposal)

Under Section 36(1) of the Malaysian Code on Takeovers and
Mergers, 1998, 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 Sime Darby
Berhad (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 9
July 2004, details of which are as set out in Table 1.

Table 1: Details of trading by CIMB Securities Sdn Bhd

Transaction     Securities           Quantity          Price
                                                       (RM)
Purchase        Ordinary shares
                of RM0.50 each
                in SDB (SDB Shares)    100             5.6000

Sold           SDB Shares              100             5.5500

This Announcement is dated 12 July 2004.


CONSOLIDATED FARMS: Posts Update On Practice Note 1/2001
--------------------------------------------------------
Further to the monthly status announcement under Practice Note
No. 1/2001 on 2 July 2004, the Board of Consolidated Farms
Berhad announced to Bursa Malaysia Securities Berhad that the
Confarm Group is unable to pay the additional principal and/or
interest in respect of its credit facilities as set out in Table
1.

The Company and its financial advisors, Deloitte KassimChan
Business Services Sdn Bhd, have met with the respective lenders
to apprise them on Confarm Group's current financial condition
and have sought their indulgence and consideration to provide a
standstill period in respect of the Group's credit facilities
for it to carry out a financial review and, if appropriate,
formulate a restructuring/workout scheme.

This announcement is dated 9 July 2004.

Table 1

Additional Amount of Principal and/or Interest from July 1, 2004
to July 9, 2004

Lender             Borrower      Additional amount      Type of
                                 Due from July 1 to
Facilities
                                 9, 2004 (RM'000)

Bank Pertanian
Malaysia (BPM)     Confarm       8,732.0              Term Loan
(TL)

Bumiputra-Commerce
Bank Berhad (BCBB) Confarm      276.0                  Bankers'

Acceptance
(BA)

Malayan Banking
Berhad             Confarm       1,253.6              TL and BA

BPM               Consolidated
                  Organic
                  Fertiliser
                  (COF)           33.0                  TL

BPM               Consolidated
                  Liquid Eggs
                  Sdn Bhd (CLESB) 35.1                   TL

Total                             10,329.7

Note:

The above figures are based on the respective companies records
and exclude any penalty interest that may be charged by the
respective leaders.


FOUNTAIN VIEW: Issues Additional 188,363 Ordinary Shares
--------------------------------------------------------
Fountain View Dev. Berhad's additional 188,363 new ordinary
shares of RM1.00 each issued pursuant to the conversion of 1,000
irredeemable convertible unsecured loan stocks and 187,363
redeemable convertible secured loan stocks into 188,363 new
ordinary shares will be granted listing and quotation effective
9:00 a.m., Tuesday, 13 July 2004.


GADANG HOLDINGS: Incorporates New Subsidiary
--------------------------------------------
Gadang Holdings Berhad (Gadang) announced to Bursa Malaysia
Securities Berhad that a new subsidiary, Gadang International
(HK) Limited (GIHKL), was incorporated in Hong Kong on 7 July
2004. The entire issued and paid-up share capital of GIHKL,
being one (1) share of HK$1.00, is beneficially owned by Gadang.
The intended principal activity of GIHKL will be investment
holding.

None of the directors or substantial shareholders of Gadang or
persons connected to them has any interest, direct or indirect,
in GIHKL.


JIN LIN: BMSB Imposes Fine of RM10,000
--------------------------------------
Bursa Malaysia Securities Berhad (BMSB) in consultation with the
Securities Commission (SC), publicly reprimanded and imposed a
fine of RM10,000 on Jin Lin Wood Industries Berhad (JINLIN) for
breaches of paragraph 9.03, in particular paragraph 9.03(1) of
the Bursa Malaysia Securities Berhad Listing Requirements (Bursa
Securities LR) and paragraph 9.04(f) of the Bursa Securities LR.

Pursuant to paragraph 9.03, in particular paragraph 9.03(1) of
the Bursa Securities LR, a listed issuer must make immediate
public disclosure of any material information.

Paragraph 9.04(f) of the Bursa Securities LR stipulates that an
event which may require immediate disclosure by the listed
issuer is the commencement of or the involvement in litigation
and any material development arising therefrom.

JINLIN had breached paragraph 9.03, in particular paragraph
9.03(1) of the Bursa Securities LR and paragraph 9.04(f) of the
Bursa Securities LR for failing to make immediate announcements
in respect of the following:

(a) The Writ of Summons dated 27 August 2003 in relation to the
claim by Mulpha International Berhad (MIB) against the Company's
wholly-owned subsidiary, Jin Lin Trading Sdn Bhd (JLT) and the
Managing Director of the Company, Mr. Ko Kung Hai which was
served on 29 September 2003. The announcement was only made by
JINLIN on 23 October 2003, after a delay of 18 market days.

(b) The Writ of Summons dated 2 September 2003 in relation to
the claim by the Government of Malaysia against JLT which was
served on 6 November 2003. The announcement was only made by
JINLIN on 20 November 2003, after a delay of 10 market days.

The public reprimand and fine were imposed pursuant to Paragraph
16.17 of the Bursa Securities LR after taking into consideration
all relevant factors and after consultation with the SC.

Previous public reprimands

On 12 December 2003, JINLIN was publicly reprimanded by Bursa
Securities for breach of paragraph 9.03, in particular paragraph
9.03(1) of the Bursa Securities LR and paragraph 9.04(f) of the
Bursa Securities LR for failing to make immediate announcements
in respect of the following:

(i) the Writ of Summons dated 17 June 2002 in relation to the
claim by Bumiputra-Commerce Bank Berhad against Syarikat
Mustapha & NGU Timber Sdn Bhd (SMNT) and JINLIN which was served
on 3 July 2002. The announcement was only made by JINLIN on 29
August 2002, after a delay of 41 market days.

(ii) the Judgment in Default of Appearance dated 24 July 2002
obtained by Bumiputra-Commerce Bank Berhad against SMNT and
JINLIN which was served on 1 July 2002. The announcement was
only made by JINLIN on 29 August 2002, after a delay of 20
market days. In this respect, a fine of RM25,000 was also
imposed on JINLIN.

(iii) the Writ of Summons dated 22 June 2002 in relation to the
claim by Affin Bank Berhad against SMNT and JINLIN which was
served on 18 July 2002. The announcement was only made by JINLIN
on 29 August 2002, after a delay of 30 market days.

(iv) the Originating Summons dated 3 July 2002 by Affin Bank
Berhad against Akitiasa Sdn Bhd (ATSB) for an order for sale of
ATSB's land which was served on 18 July 2002. The announcement
was only made by JINLIN on 29 August 2002, after a delay of 30
market days.

JINLIN was also publicly reprimanded for breach of paragraph
9.04(l) of the Bursa Securities LR and paragraph 2.1(d) of
Practice Note No. 1/2001 (PN1) for failing to make immediate
announcements in respect of the following:

(i) the default in payment of the credit facility by SMNT and
JINLIN to Bumiputra-Commerce Bank Berhad on 23 May 2002. The
announcement was only made by JINLIN on 29 August 2002, after a
delay of 3 months.

(ii) the default in payment of the credit facility by SMNT and
JINLIN to Affin Bank Berhad on 5 June 2002. The announcement was
only made by JINLIN on 29 August 2002, after a delay of 2.5
months.

(iii) the default in payment of the credit facility by ATSB to
Affin Bank Berhad on 5 June 2002. The announcement was only made
by JINLIN on 29 August 2002, after a delay of 2.5 months.

Bursa Securities views this contravention seriously and hereby
cautions JINLIN and its Board of Directors on their
responsibility to maintain appropriate standards of corporate
responsibility and accountability in order to achieve greater
disclosure and transparency to its shareholders and the
investing public.

Bursa Malaysia Berhad (Bursa Malaysia) is a public company
limited by shares under the Companies Act 1965. Bursa Malaysia
is an approved exchange holding company under Section 11D of the
Securities Industry Act 1983. Other companies in the Bursa
Malaysia Bhd Group of companies include a stock exchange, a
derivatives exchange, an off-shore international financial
exchange, equity and derivatives clearing houses, a central
depository, an information services provider and an Information
Technology services provider.

Bursa Malaysia Securities Berhad, a wholly-owned subsidiary of
Bursa Malaysia Berhad, is an approved stock exchange under
Section 8 of the Securities Industry Act 1983.

Issued by Bursa Malaysia.

Ong Li Lee
Head, Brand Management
Telephone: 603 2071 7436
Fax: 603 2732 6158
Email: ong_ll@bursamalaysia.com

Anita Daud Charles
Acting Head, Communications & Media
Telephone: 603 2077 7091
Fax: 603 2732 6158
Email: anita@bursamalaysia.com

PUBLIC REPRIMAND AND FINE
JIN LIN WOOD INDUSTRIES BERHAD

Breaches of paragraph 9.03, in particular paragraph 9.03(1) of
the Bursa Malaysia Securities Berhad Listing Requirements (Bursa
Securities LR) and paragraph 9.04(f) of the Bursa Securities LR


(1) In consultation with the Securities Commission (SC), Bursa
Malaysia Securities Berhad (Bursa Securities) hereby publicly
reprimands and imposes a fine of RM10,000 on Jin Lin Wood
Industries Berhad (JINLIN) for breaches of paragraph 9.03, in
particular paragraph 9.03(1) of the Bursa Malaysia Securities
Berhad Listing Requirements (Bursa Securities LR) and paragraph
9.04(f) of the Bursa Securities LR.

(2) Pursuant to paragraph 9.03, in particular paragraph 9.03(1)
of the Bursa Securities LR, a listed issuer must make immediate
public disclosure of any material information.

(3) Paragraph 9.04(f) of the Bursa Securities LR stipulates that
an event which may require immediate disclosure by the listed
issuer is the commencement of or the involvement in litigation
and any material development arising therefrom.

(4) JINLIN has breached paragraph 9.03, in particular paragraph
9.03(1) of the Bursa Securities LR and paragraph 9.04(f) of the
Bursa Securities LR for failing to make immediate announcements
in respect of the following:

(a) The Writ of Summons dated 27 August 2003 in relation to the
claim by Mulpha International Berhad (MIB) against the Company's
wholly owned subsidiary, Jin Lin Trading Sdn Bhd (JLT) and the
Managing Director of the Company, Mr. Ko Kung Hai which was
served on 29 September 2003. The announcement was only made by
JINLIN on 23 October 2003, after a delay of 18 market days.

(b) The Writ of Summons dated 2 September 2003 in relation to
the claim by the Government of Malaysia against JLT which was
served on 6 November 2003. The announcement was only made by
JINLIN on 20 November 2003, after a delay of 10 market days.

(5) The public reprimand and fine were imposed pursuant to
Paragraph 16.17 of the Bursa Securities LR after taking into
consideration all relevant factors and after consultation with
the SC.

Previous public reprimands

On 12 December 2003, JINLIN was publicly reprimanded by Bursa
Securities for breach of paragraph 9.03, in particular paragraph
9.03(1) of the Bursa Securities LR and paragraph 9.04(f) of the
Bursa Securities LR for failing to make immediate announcements
in respect of the following:-

(i) the Writ of Summons dated 17 June 2002 in relation to the
claim by Bumiputra-Commerce Bank Berhad against Syarikat
Mustapha & NGU Timber Sdn Bhd (SMNT) and JINLIN which was served
on 3 July 2002. The announcement was only made by JINLIN on 29
August 2002, after a delay of 41 market days.

(ii) the Judgment in Default of Appearance dated 24 July 2002
obtained by Bumiputra-Commerce Bank Berhad against SMNT and
JINLIN which was served on 1 July 2002. The announcement was
only made by JINLIN on 29 August 2002, after a delay of 20
market days. In this respect, a fine of RM25,000 was also
imposed on JINLIN.

(iii) the Writ of Summons dated 22 June 2002 in relation to the
claim by Affin Bank Berhad against SMNT and JINLIN which was
served on 18 July 2002. The announcement was only made by JINLIN
on 29 August 2002, after a delay of 30 market days.

(iv) the Originating Summons dated 3 July 2002 by Affin Bank
Berhad against Akitiasa Sdn Bhd (ATSB) for an order for sale of
ATSB's land which was served on 18 July 2002. The announcement
was only made by JINLIN on 29 August 2002, after a delay of 30
market days.

JINLIN was also publicly reprimanded for breach of paragraph
9.04(l) of the Bursa Securities LR and paragraph 2.1(d) of
Practice Note No. 1/2001 (PN1) for failing to make immediate
announcements in respect of the following:

(i) the default in payment of the credit facility by SMNT and
JINLIN to Bumiputra-Commerce Bank Berhad on 23 May 2002. The
announcement was only made by JINLIN on 29 August 2002, after a
delay of 3 months.

(ii) the default in payment of the credit facility by SMNT and
JINLIN to Affin Bank Berhad on 5 June 2002. The announcement was
only made by JINLIN on 29 August 2002, after a delay of 2.5
months.

(iii) the default in payment of the credit facility by ATSB to
Affin Bank Berhad on 5 June 2002. The announcement was only made
by JINLIN on 29 August 2002, after a delay of 2.5 months.

Bursa Securities views this contravention seriously and hereby
cautions JINLIN and its Board of Directors on their
responsibility to maintain appropriate standards of corporate
responsibility and accountability in order to achieve greater
disclosure and transparency to its shareholders and the
investing public.


KSU HOLDINGS: Fined RM200,000 By Bursa Malaysia
-----------------------------------------------
Bursa Malaysia Securities Berhad (BMSB), in consultation with
the Securities Commission, publicly reprimanded and imposed a
fine of RM200,000 on KSU Holdings Berhad (KSU) for breach of
paragraph 9.23(a) of the Bursa Malaysia Securities Berhad
Listing Requirements (Bursa Securities LR).

Paragraph 9.23 (a) of Bursa Securities LR states that a listed
issuer must ensure that the annual report shall be issued to the
listed issuer's shareholders and given to the Exchange within a
period not exceeding six (6) months from the close of the
financial year of the listed issuer.

KSU has breached Paragraph 9.23 (a) of the Bursa Securities LR
for failure to issue its Annual Report for the year ended 31
March 2003 (AR 2003) on or before 30 September 2003. However, as
of to date, KSU has yet to furnish the said AR 2003 to Bursa
Malaysia.

The public reprimand and fine were imposed pursuant to paragraph
16.17 of the Bursa Securities LR after taking into consideration
all relevant factors including the fact that KSU had previously
breached the Bursa Malaysia LR and after consultation with the
Securities Commission. KSU was further directed to furnish the
AR 2003 to Bursa Securities for public release within one (1)
month from the date hereof.

Previous Public Reprimands

(1) On 10 May 2003, KSU was publicly reprimanded and fined
RM57,000 for breach of Paragraph 9.22 (1) of the Bursa
Securities LR for failing to give to Bursa Securities for public
release, its interim financial report for the financial period
ended 30 September 2002 within the time frame stipulated in the
LR.

(2) On 24 May 2003, KSU was publicly reprimanded for breach of
Paragraph 9.19(19) of the Bursa Securities LR for failing to
make an immediate announcement to Bursa Securities when a
winding up petition was served on Kumpulan Sepang Utama Sdn Bhd
(KSUSB), a wholly owned subsidiary of KSU, on 18 November 2002.
The announcement in respect of the winding up petition was only
made by KSU to Bursa Securities for public release on 3 December
2002, after a delay of eleven (11) market days.

(3) On 26 July 2003, KSU was publicly reprimanded for breach of
Paragraphs 9.03 and 9.04(l) of the Bursa Securities LR and
Paragraph 2.1(1)(d) of PN1/2001 for failing to make an immediate
announcement to Bursa Malaysia when its subsidiary, KSUSB
defaulted in its repayment of the Term Loan and Bridging Loan
Facilities granted by Malaysia Building Society Berhad (MBSB
Facilities) since June 1999. The announcement in relation to the
default of payment of the MBSB Facilities by KSUSB was only made
on 29 November 2002, after a delay of 6.5 months from the date
KSU assumed the listing status of May Plastics Industries Berhad
on 10 May 2002.

(4) On 23 October 2003, KSU was publicly reprimanded for breach
of Paragraph 9.16 (1) (a) of the Bursa Securities LR for
omitting to disclose in the Company's announcement dated 5 March
2003 the fact that the injunction granted was an ex-parte
injunction which would lapse upon the expiry of 21 days from the
date of the Court Order dated 3 March 2003.

(5) On 9 April 2004, KSU was publicly reprimanded for breaches
of the following provisions of the Bursa Securities LR:-

(i) Paragraph 4.1 of PN10 for failure to notify Bursa Securities
immediately on the Company's inadequate level of operations
pursuant to PN10 when the Company's main operating subsidiary,
KSUB had ceased operations almost a year prior to the listing of
KSU's shares on Bursa Securities on 10 May 2002.

(ii) Paragraph 9.03, in particular Paragraph 9.03(1) and
Paragraph 9.04(f) of the Bursa Securities LR for failure to make
an immediate announcement in respect of the Writ of Summons and
Statement of Claim both dated 24 September 2003 filed by the
minority shareholder, Mr. Low Kah Khuen on behalf of himself and
all other shareholders of the Company save for those named as
defendants against the Company, Ban Guan Hin Realty Sdn. Bhd and
seven directors of the Company vide High Court of Malaya at
Kuala Lumpur Suit No. D2-22-1592-03 which were served on the
Company on 16 October 2003. However, the announcement on the
Writ of Summons and Statement of Claim was only made by the
Company on 7 November 2003, after a delay of 14 market days.

(iii) Paragraph 9.16(1)(a) of the Bursa Securities LR for
failure to disclose the material information in the legal
action, in particular the Claim sought against the Company and
its directors in the Company's announcement dated 7 November
2003 on the Writ of Summons and Statement of Claim filed by the
minority shareholder.

(6) On 25 June 2004, KSU was publicly reprimanded and fined
RM200,000 for breach of Paragraph 9.23 (b) of the Bursa
Securities LR for failure to submit its Annual Audited Account
for financial year ended 31 March 2003 which was due on 31 July
2003. KSU was further directed to furnish the Annual Audited
Accounts to Bursa Securities for public release within one (1)
month from the date thereof.

Bursa Securities views the above contravention seriously and
hereby cautions KSU on its responsibility to maintain
appropriate standards of corporate responsibility and
accountability in order to achieve greater disclosure and
transparency to its shareholders and the investing public.

PUBLIC REPRIMAND AND FINE
KSU HOLDINGS BERHAD

Breach of paragraph 9.23 (a) of the Bursa Malaysia Securities
Listing Requirements (Bursa Securities LR)

(1) Bursa Malaysia Securities Berhad (Bursa Securities) in
consultation with the Securities Commission, publicly
reprimanded and imposed a fine of RM200,000 on KSU Holdings
Berhad (KSU) for breach of paragraph 9.23(a) of the Bursa
Malaysia Securities Berhad Listing Requirements (Bursa
Securities LR).

(2) Paragraph 9.23 (a) of Bursa Securities LR states that a
listed issuer must ensure that the annual report shall be issued
to the listed issuer's shareholders and given to the Exchange
within a period not exceeding six (6) months from the close of
the financial year of the listed issuer.

(3) KSU has breached Paragraph 9.23 (a) of the Bursa Securities
LR for failure to issue its Annual Report for the year ended 31
March 2003 (AR 2003) on or before 30 September 2003. However, as
of to date, KSU has yet to furnish the said AR 2003 to Bursa
Malaysia.

(4) The public reprimand and fine were imposed pursuant to
paragraph 16.17 of the Bursa Securities LR after taking into
consideration all relevant factors including the fact that KSU
had previously breached the Bursa Malaysia LR and after
consultation with the Securities Commission. KSU was further
directed to furnish the AR 2003 to Bursa Securities for public
release within one (1) month from the date hereof.

(5) Bursa Securities views the above contravention seriously and
hereby cautions KSU on its responsibility to maintain
appropriate standards of corporate responsibility and
accountability in order to achieve greater disclosure and
transparency to its shareholders and the investing public.


KSU HOLDINGS: Issues Update on D6 Suit
--------------------------------------
Further to the announcement made to Bursa Malaysia Securities
Berhad dated 24 September 2003, 7 October 2003, 10 October 2003,
11 December 2003 and 18 February 2004, KSU Holdings Berhad
hereby announces the following in respect of the D6 Suit, which
was heard in court on 7 July 2004:

(1) The High Court has on 7 July 2004 granted an Interim Stay of
the Order declaring the results of the voting on resolutions No.
1 to 15 at the EGM held on 7 March 2003 null and void and that a
new EGM be convened. The Interim Stay however is only valid for
3 months from 7 July 2004.

(2) The Court also fixed the hearing of the Company's
application for a Stay/Erinford Injunction on 14 October 2004.
The Company's application to strike out the Defendants'
Counterclaim will also be mentioned on the same day.


LANKHORST BERHAD: Posts Accounts Update
---------------------------------------
Further to Lankhorst Berhad's reply on 7th July 2004 to Bursa
Malaysia Securities Berhad's query in respect of the variance of
10 percent or more between the profit after tax and minority
interests in the announced unaudited accounts and the audited
accounts the company is pleased to attach herewith the amended
files in respect of our explanation thereof.

Thank You.

For more information, click
http://bankrupt.com/misc/LANKHORSTBERHAD070904.xls
http://bankrupt.com/misc/LANKHORSTBERHAD070904_2.doc


MALAYSIAN INDUSTRIAL: BMSB To Grant Listing Of 35,000 Shares
------------------------------------------------------------
Bursa Malayasia Securities Berhad (BMSB) will grant the listing
and quotation of Malaysian Industrial Development Finance
Berhad's additional 35,000 new ordinary shares of RM1.00 each
issued pursuant to the Employees' Share Option Scheme effective
9:00 a.m., Wednesday, 14 July 2004.


NAIM INDAH: Sees Return To Profit This Year
-------------------------------------------
Due to good earnings from its core timber concessions and
property development business, Naim Indah Corp. Berhad (NICORP)
expects to return to profitability this financial year,
according to Bernama.

"Our timber concession in Kelantan would be a major contributor
to the company's profit this year," the company's financial
controller, Larry Liang said, quoted by Bernama. Timber price
has gone up by 10 percent from last year.

Under the proposed restructuring scheme, Mr. Liang said NICORP
shareholders had approved the share capital reduction, which
involved canceling RM0.80 of the par value of each RM1 share
when they surrendered control of acquired Kewangan Bersatu Bhd
(KBB) to Bank Negara Malaysia via a Ministerial Order (1999).

The company surrendered KBB to the central bank due to financial
problems. Following this, Mr. Liang said the company was left
without a core business.

It then ventured into the timber, property investment and
development sector. The cancellation of the share value of KKB
would give the company the opportunity to reduce the accumulated
loss position of the group from RM482 million to RM22.6 million.
The company expects the restructured scheme plan to be completed
within six months.

"With this, the group can achieve an accumulated profit position
within a shorter period of time as compared to the position if
the proposed reconstruction scheme was not carried out, " Mr.
Liang said, adding that this exercise would also present a
fairer view of the financial statement for the year ending Dec
31, 2004.

For the first quarter ended March 31, 2004, the company posted a
RM1.2 million in pre-tax profit, compared to a net loss of RM1.5
million and RM2.2 million in 2003 and 2002 respectively.


NYLEX BERHAD: Issues Additional 64,427,000 Ordinary Shares
----------------------------------------------------------
Kindly be advised that the Nylex (Malaysia) Berhad's additional
64,427,000 new ordinary shares of RM1.00 each issued pursuant to
the acquisition of the entire equity interest in four (4)
industrial chemical companies namely Perusahaan Kimia Gemilang
Sdn Bhd, Fermpro Sdn Bhd, Kumpulan Kesuma Sdn Bhd and Wedon Sdn
Bhd for a total purchase consideration of RM64,427,000 satisfied
by the issuance of 64,427,000 new ordinary shares of RM1.00 each
at an issue price of RM1.00 per share will be granted listing
and quotation by Bursa Malaysia Securities Berhad effective 9:00
a.m., Wednesday, 14 July 2004.


OCEAN CAPITAL: Issues Update On Proposals
-----------------------------------------
Ocean Capital Berhad disclosed to Bursa Malaysia Securities
Berhad an update on the following proposals:

- Proposed Restructuring Scheme comprising the following:-
- Proposed Capital Reconstruction
- Proposed Warrants Exchange
- Proposed Acquisition of Pasaraya Hiong Kong Sdn Bhd ("PHK")
- Proposed Divestment of Non-Core Assets
- Proposed Rights Issue with Warrants;
- Proposed Offer for Sale
- Proposed Listing Transfer
- Proposed Private Placement
- Proposed exemption under Practice Note 2.9.3 of the Malaysian
Code on Take-Overs and Mergers, 1998 to Tat Seng Fatt Holding
Sendirian Berhad (TSF) and parties acting-in-concert from
undertaking a mandatory offer for the remaining shares in PHK
Superstore Berhad (formerly known as Premium Acme Sendirian
Berhad)(PHKS) not held by them after the Proposed Acquisition of
PHK (Collectively referred to as the Proposals)

Hwang-DBS Securities Berhad (Hwang-DBS), on behalf of the Board
of Directors of Ocean, announced that the Ministry of
International Trade and Industry (MITI) has no objection to the
Proposals, via its letter dated 8 July 2004, subject to the
following conditions:

(i) That 280,000 ordinary shares of RM1.00 each (Shares) in PHKS
be allocated, through the Proposed Offer for Sale, to places to
be identified by MITI after the application for the flotation of
PHKS has been approved by the Securities Commission (SC); and

(ii) The approval of the SC for the listing scheme as well as
adherence to all relevant guidelines in respect of mergers,
acquisitions and takeovers.

This announcement is dated 9 July 2004.


RCE CAPITAL: BMSB Approves Application For Extension of Time
------------------------------------------------------------
RCE Capital Berhad had on 3 June 2004 made an application to
Bursa Malaysia Securities Berhad (BMSB) for an extension of time
of six (6) months to comply with the public shareholding spread
requirement pursuant to paragraph 8.15(1) of Bursa Securities
Listing Requirements.

Bursa Securities has approved the application and in relation
thereto, the Board announced that:

(1) The details of the public shareholding spread of the Company
as at 14 June 2004 are as follows:

No. of public shareholders - 906

Shortfall of no. of public shareholders - 94

percentage of public shareholding spread - 36.38

Shortfall of percentage of public shareholding spread - N/A

(2) Bursa Securities has vide its letter dated 6 July 2004,
granted the Company an extension of time for a period of six (6)
months expiring on 31 December 2004 for compliance with the
public shareholding spread requirement pursuant to paragraph
8.15(1) of Bursa Securities Listing Requirements.

The Company has on 28 May 2004 implemented a subdivision of its
shares to improve liquidity of its shares with the aim to
increase its number of public shareholders. It is anticipated
that the projected positive impact on the Company's number of
public shareholders following the subdivision of its shares
would be fully realized by 31 December 2004 to regularize the
minimum number of public shareholders.


SIME DARBY: BMSB To Grant Listing of 8,000 Ordinary Shares
----------------------------------------------------------
Sime Darby Berhad's additional 8,000 new ordinary shares of
RM0.50 each issued pursuant to the Employees' Share Option
Scheme will be granted listing and quotation by Bursa Malaysia
Securities Berhad (BMSB) effective 9;00 a.m., Wednesday, 14 July
2004.


TANJONG PUBLIC: Issues Additional 67,000 Ordinary Shares
--------------------------------------------------------
Kindly be advised that Tanjong Public Ltd. Co.'s additional
67,000 new ordinary shares of 7.5 pence each issued pursuant to
the Employees' Share Option Scheme will be granted listing and
quotation by Bursa Malaysia Securities Berhad effective 9:00
a.m., Wednesday, 14 July 2004.


TELEKOM MALAYSIA: BMSB To Grant Listing Of 2,897,000 Shares
-----------------------------------------------------------
Telekom Malaysia Berhad's additional 2,897,000 new ordinary
shares of RM1.00 each issued pursuant to the Employees' Share
Option Scheme will be granted listing and quotation by Bursa
Malaysia Securities Berhad (BMSB) effective 9:00 a.m.,
Wednesday, 14 July 2004.


WAH SEONG: Details Initial Issuance of RM200.0Mln CP's
------------------------------------------------------
On behalf of Wah Seong Corp. Berhad (WSC), Commerce
International Merchant Bankers Berhad (CIMB) announced to Bursa
Malaysia Securities Berhad that further to the announcements
dated 8 April 2004 and 25 May 2004, WSC's initial issuance
pursuant to the issuance of up to RM200.0 million nominal value
Commercial Papers (CP's) under the Islamic Financing Concepts of
Murabahah and Ijarah (CP/MTN Programme) of RM100.0 million
nominal value MTNs under the Islamic financing concept of
Murabahah has been successfully completed on 9 July 2004 in
accordance with the principal terms as summarized below:

(1) Issuer: WSC

(2) Lead arranger/ Lead manager: CIMB.

(3) Co-Managers: OCBC Bank (Malaysia) Berhad and AmMerchant Bank
Berhad.

(4) Trustee: Amanah Raya Berhad.

(5) Issue size: RM100.0 million comprising of two (2) tranches
of RM50.0 million each in nominal value.

(6) Tenor of the facility/ issue:

(i) 5 years for the first tranche of RM50.0 million (5 years
MTNs); and
(ii) 7 years for the second tranche of RM50.0 million (7 years
MTNs).

(7) Interest/ coupon/ profit or equivalent rate (%):

(i) 6.2 percent per annum for the 5 years MTNs; and
(ii) 6.9 percent per annum for the 7 years MTNs.

(8) Interest/ coupon/ profit payment frequency: Semi-annually in
arrears.

(9) Form and denomination: Bearer form and in denomination of
RM1,000.

(10) Selling restriction: At issuance

The MTNs may only be offered, sold, transferred or otherwise
disposed directly or indirectly to a person to whom an offer or
invitation to subscribe the MTNs and to whom the MTNs are issued
would fall within Schedule 2 or Section 38(1)(b) and Schedule 3
or Section 39(1)(b) of Securities Commission Act (SCA) and would
fall within Schedule 5 or Section 66(3) of the SCA.

Thereafter

The MTNs may only be offered, sold, transferred or otherwise
disposed directly or indirectly to a person to whom an offer or
invitation to purchase the MTNs would fall within Schedule 2 or
Section 38(1)(b) of the SCA and would fall within Schedule 5 or
Section 66(3) of the SCA.

(11) Redemption:

(i) At 100 percent of RM50.0 million nominal value on 9 July
2009 (maturity date) for the 5 years MTNs; and

(ii) At 100 percent of RM50.0 million nominal value on 8 July
2011 (maturity date) for the 7 years MTNs.

(12) Status: The MTNs will constitute direct, unconditional and
secured obligations of the Issuer and shall at all times rank
pari passu, without discrimination, preference or priority
amongst themselves and at least pari passu with all other
present and future unsecured and unsubordinated obligations of
the Issuer, subject to those preferred by law or the transaction
documents.

(13) Security: Assignment and charge over finance service
reserve account.

(14) Rating: AA3 assigned by Rating Agency Malaysia Berhad.

(15) Listing status: The MTNs will not be listed on Bursa
Malaysia Securities Berhad or any other stock exchange.

(16) Governing law: The Laws of Malaysia.

This announcement is dated 9 July 2004.


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


COLLEGE ASSURANCE: Needs US$100 Million to Stay Liquid
------------------------------------------------------
College Assurance Plans Philippines Inc. (CAP) is in talks with
possible investors that can inject its trust fund with US$100
million, reports the Philippine Daily Inquirer.

CAP's trust fund deficiency amounts to PHP17.2 billion as of
end-2003.  The pre-need firm's trust fund assets, managed by
trustee banks, had not grown sufficiently to match its total
actuarial reserve liabilities (ARL), or its net liability to
plan holders worth PHP25.6 billion, the paper said, citing the
Securities and Exchange Commission (SEC).

According to SEC Chairperson Lilia Bautista, the agency is
prepared to help CAP if it fails to find a willing investor.
The Commission will meet with CAP officials to find out the
steps it is taking to ensure long-term liquidity.

Stepping into the picture, according Ms. Bautista, could mean
helping CAP look for investors, facilitating its merger with
another company, asking its stockholders to put in fresh money,
or the company to sell its assets.

CAP is projecting a negative cash flow this year.  To address
this problem, management is planning to implement an eight-year
program to generate equity and liquidity to meet its
obligations.  The program called for quasi-reorganization,
capital-build up, the sale of assets and cost reduction
programs.  The program will also include trust fund assets
build-up, liability management, real estate development projects
through joint venture, loan programs, and special surrender
programs for matured plans.  If implemented, the program will
allow it to continue operations, CAP said.

To cover for future educational pre-need requirements, CAP is
planning to sell at least PHP3.4 billion worth of bonds backed
up by the cash flow from the Metro Rail Transit (MRT) project
this year.  The MRT bonds worth a total of PHP10 billion are
marketable.  With these financial plans, Ms. Bautista is
optimistic that CAP will have no shortfall in cash or liquidity.

CAP, in its latest financial report, recorded a PHP2.8 billion
loss in 2003, up from only PHP403.3 million in 2002.


NEGROS NAVIGATION: Creditor Says 10-Yr. Rehab Plan "Too Long"
-------------------------------------------------------------
Negros Navigation Co.'s (Nenaco) supplier of heavy equipment
spare parts finds the shipping firm's rehabilitation plan not
workable, according to the Manila Times.

In a two-page petition submitted to the Manila Regional Trial
Court, Tim Builders Inc. said it does not object to Nenaco's
plan to undergo debt-restructuring for it would be for the
welfare of the creditors, but the 10-year implementation period
of the plan is too long, considering that the rehabilitation
plan itself does not appear to be workable, feasible and viable.

"With the other factors in attendance, such as the abrupt
increase in the price of oil and gasoline products, the
worsening economic conditions of the country and the low turnout
of tourism, it would seem that the rehab plan is not workable,
and attaining the desired objectives in the said rehabilitation
plan is illusory," the company said, quoted by the Manila Times.

Nenaco proposed in its rehabilitation plan that it would
restructure its total debt in 10 years, with a one-year grace
period for repayment on interest and a two to three-year grace
period for the principal loan. The plan also includes an option
for debt-to-equity conversion.

Nenaco's total outstanding obligations are estimated at PhP2.4
billion, out of this amount, PhP2.9 million is owed to Tim
Builders for unpaid deliveries of heavy equipment.

Contact:

Negros Navigation Co. Inc.
Pier II, North Harbor
Tondo, Manila
Telephone Number:  245-5588
Fax Number:  245-0780 (Telefax)
Email Address:  nnwebmaster@surfshop.net.ph
Website: http://www.nenaco.com.ph


PHILIPPINE LONG: Increases Broadband Subscriber Base
----------------------------------------------------
In a press release submitted to the Philippine Stock Exchange,
Philippine Long Distance Telephone Co. (PLDT) has started to
initiate aggressive moves to increase its broadband subscriber
base and further extend its lead over other broadband providers.

PLDT myDSL already has a dominant market share with over 30,000
subscribers, more subscribers than all other telcos combined.
The engine of PLDT's myDSL initial growth came from existing
nationwide infrastructure that the company leveraged and
maximized to roll out its broadband service at least cost.

"While other telcos are still thinking of spending billions of
pesos to roll out a broadband infrastructure, PLDT's was already
in place," said Butch Jimenez, Head of the Retail Business
Group. "It is now our intention to further enhance our network
and generate various applications to heighten the broadband
experience of our subscribers."

PLDT recently doubled the broadband speeds it offered to its
residential subscribers, my DSL now offers speeds of 512 kbps
and 768 kbps.  PLDT has also developed its own online gaming
website, PLDT PLAY that will allow its subscribers to play
network-based games without having to go to an internet cafe'.

PLDT has also tied up with Level-Up, holders of the Philippines
rights to the number one online game in the world, Ragnarok.
PLDT myDSL subscribers can now easily log on to www.pldtplay.com
and play or purchase Ragnarok load through the website.  Fees
will be conveniently charged to the subscribers' phone bill.

"The challenge for PLDT is to combine its broadband
infrastructure with relevant content, therefore creating an
enriching experience for the subscriber," said Mr. Jimenez.

He added that the company intends to build on its partnership
with msn.com (Microsoft Network) one of the most popular sites
in the Philippines with over 500,000 unique Filipino subscribers
through its Hotmail email service.  A special "youth lifestyle"
website designed to enhance the broadband experience is also
under construction.

"We continue to eye data as one of the major growth drivers for
the landline business," added Mr. Jimenez.

Contact:

Philippine Long Distance Telephone Co.
Ramon Cojuangco Building
Makati Avenue, Makati City
Telephone Numbers:  814-3552; 888-0188
Fax Number:  813-2292
Website: http://www.pldt.com.ph


PHILIPPINE LONG: PSE Sets Listing of 4,157 Common Shares Today
--------------------------------------------------------------
The Philippine Stock Exchange (PSE) approved on June 14, 2004
the application submitted by Philippine Long Distance Telephone
Co. (PLDT) to list additional 1,289,745 common shares, with a
par value of PhP5.00 per share, to cover the Executive Stock
Option Plan (ESOP) of the company, at an exercise price of
PhP814.00 per share.

In this connection, please be advised that a total of 4,157
common shares have been availed of and fully paid by the
optionees under the company's ESOP.

In view thereof, the listing of the 4,157 common shares is set
for today, Tuesday, July 13, 2004. This brings the number of
common shares listed under the ESOP to a total of 92,861 common
shares.


PILIPINO TELEPHONE: Issues Additional 820,250,000 Common Shares
---------------------------------------------------------------
Pilipino Telephone Corp. (Piltel) in its SEC Form 17-C dated
July 9, 2004, disclosed to the Philippine Stock Exchange that:

"Pilipino Telephone Corp. issued on Monday an additional
820,250,000 shares of its authorized common stock in connection
with the conversion of 4,825,000 Series K convertible preferred
shares held by Smart Communications, Inc. (Smart).  This
represents 32.7 percent of the total outstanding shares of
common stock of Piltel after such conversion.

In addition, Smart holds another 54.4 million Series K
convertible preferred shares which it had acquired from
Philippine Long Distance Telephone Co. (PLDT) on July 2, 2004.
Smart intends to convert the remaining Series K preferred shares
into an additional common shares of Piltel from the proposed
increase in authorized capital stock of Piltel, The Series K
preferred shares shall have a conversion ration of 170:1."

Article V, Section 1 of the Revised Listing Requirements
pertaining to Rule on Additional Listing of voting shares that:

"Section 1. Rule on Additional Listing of Shares- The Rule shall
apply to transactions resulting into issuance by a listed
company (Issuer) of new voting shares to any party or to any
persons acting in concert (Subscriber/s) amounting to at least
ten percent (10 percent) but not more than thirty-five percent
(35 percent) of the total issued and outstanding capital stock
of the Issuer through a single or creeping transactions may
include private placements, share swaps, property-for-share
swaps, or conversions of securities into equity.

As a general rule, the Exchange shall not permit the listing of
shares subscribed by related parties unless a rights or public
offering is first undertaken.

For purposes of this Rule, Related Parties shall mean affiliates
of the listed issuer accounted for by the equity method of
accounting; trusts for the benefit of employees such as pension
and profit sharing plans that are managed by or under the
trusteeship of the management; directors, major shareholders or
principal owners of the listed issuer; and its management;
members of the immediate families of major shareholders,
principal owners and management of the listed issuer."

Further, Section 3 of the same Article states that:

"Section 3. Trading Halt - The trading of the shares of the
Issuer shall be halted for one (1) hour upon announcement of
disclosure of any information leading to the transaction(s).
Another one hour trading halt shall be implemented upon
dissemination of the Comprehensive Corporate Disclosure required
herewith."

In view thereof, Piltel shares shall be subject to a trading
halt pursuant to the aforecited Rule and shall be lifted one
hour from dissemination hereof.

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


UNION CEMENT: Details Ownership Structure of UCHC's Shares
----------------------------------------------------------
With reference to Circular for Brokers Number 3111-2004 dated
July 8, 2004, pertaining to the ownership structure of Union
Cement Corp. (UCC) in relation to the sale by Bacnotan
Consolidated Industries Inc. (BCI) of its shares in Union Cement
Holdings Corp. (UCHC) to Cemco Holdings Inc. (Cemco).

The company in its letter to the Philippine Stock Exchange
dated, July 9, 2004 further disclosed the following information
relative to the above transaction.


Particulars                          Percentage

Existing direct shareholding         9 percent
of Cemco in UCHC

Resultant direct shareholding of     51 percent
Cemco in UCHC (secondary to the
sale of BCII's UCHC shares to
Cemco)

Total direct shareholding of Cemco   60 percent
in UCHC

Percentage of ownership of Cemco     60 percent
in UCHC

Indirect ownership of Cemco In UCC   36 percent

Direct ownership of Cemco in UCHC    17 percent

Total (direct and indirect)          53 percent
ownership of Cemco in UCC

The Exchange shall inform the Trading Participants and the
investing public of further developments on the abovementioned
matter.

Contact:

Union Cement Corp.
Phinma Plaza-Level 2,
39 Plaza Drive, Rockwell Center, Makati City
Telephone Number:  870-0100
Fax Number:  870-0301
Website: http://www.unioncement.com


ZIPPORAH REALTY: Unveils Result of Annual Stockholders Meeting
--------------------------------------------------------------
In a disclosure to the Philippine Stock Exchange, Zipporah
Realty Holdings Inc. announced that at the Annual Meeting of the
Stockholders of Zipporah Property Holdings Inc. held on July 9,
2004, at the Roces Room, Club Filipino, Eisenhower Street corner
Club Filipino Avenue, Greenhills San Juan, Metro Manila, at
which meeting a quorum was present and acting throughout, the
stockholders elected the following as members of the Board of
Directors of the Registrant for the year 2004 to 2005:

Rolando A. Castro
Santiago Cua
Henry T. Cua Loping
Brigido J. Dulay
Jose Ferdinand R. Guiang
Osmundo C. de Guzman, Jr.
Alfonso R. Reyno, Jr.
Exequiel D. Robles
Benjamin C. Santos
Mariza Santos-Tan
Alejandro B. Saulog, Jr.

For more information, click
http://bankrupt.com/misc/zipporahrealty070904.pdf

Contact:

Zipporah Realty Holdings Inc.
6/F, Sagittarius Condominium
H.V. dela Costa St.,
Salcedo Village, Makati City
Telephone Number: 829-7846
Fax Number: 817-1324


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


CHUAN & CO: Issues Notice of Intention to Declare Dividend
----------------------------------------------------------
Name of Company: Chuan & Co. Company Hardware Pte Ltd. (In
Compulsory Liquidation).

Address of Registered Office: c/o Deloitte & Touche
6 Shenton Way
#32-00 DBS Building Tower Two
Singapore 068809.

Court: High Court of Singapore.

Number of Matter: Winding Up No. 81 of 2003.

Last day for Receiving Proofs: 23rd July 2004.

Name of Liquidators: Tam Chee Chong
Wee Aik Guan.

Address of Liquidators: c/o Deloitte & Touche
6 Shenton Way
#32-00 DBS Building Tower Two
Singapore 068809.

Dated this 9th day of July 2004.

TAM CHEE CHONG
Liquidator.

This Singapore Government Gazette announcement is dated July 9,
2004.


DAEWOO SINGAPORE: Winding Up Order Made
---------------------------------------
In the Matter of Daewoo Singapore Pte Ltd., a Winding Up Order
was made on July 1, 2004.

Name and address of Liquidator: Messrs Tam Chee Chong and Wee
Aik
Guan of Deloitte & Touche, care of 6 Shenton Way #32-00 DBS
Tower Two,
Singapore 068809.

Messrs RAJAH & TANN
Solicitors for the Petitioner.


Note:
(a) All creditors of the above named company should file their
proof of debt with the liquidators who will be administering all
affairs of the company.

(b) All debts due to the above named company should be forwarded
to the liquidators.

This Singapore Government Gazette announcement is dated July 9,
2004.


FAILSAFE CORPORATION: Releases Dividend Notice
----------------------------------------------
Name of Company: Failsafe Corporation (Singapore) Pte Ltd
(In Liquidation).

Address of Registered Office: 41 Science Park Road, The Gemini,
Singapore Science Park II, Singapore 117610.

Court: High Court, Singapore.

Number of Matter: Companies Winding Up No. 37 of 2003/K.

Amount per Centum: 0.0739 Cents in a Dollar.

Creditors Entitled: Preference Creditors under section 328 (b).

First and Final or otherwise: First and Final Dividend.

When Payable: July 20, 2004.

Where Payable: c/o Deloitte & Touche 6 Shenton Way,
#32-00 DBS Building Tower Two,
Singapore 068809.

TAM CHEE CHONG AND WEE AIK GUAN
Joint & Several Liquidators.

This Singapore Government Gazette announcement is dated July 9,
2004.


HATHAWAY CAPITAL: Creditors Must Submit Claims on August 12
-----------------------------------------------------------
The creditors of Hathaway Capital Pte Ltd., which is being wound
up voluntarily, are required on or before August 12, 2004 to
send in their names and addresses and particulars of their debts
or claims, and the names and addresses of their solicitors (if
any) to the undersigned, the Liquidators of the said Company
and, if so required by notice in writing by the said Liquidators
are, by their solicitors or personally, to come in and prove
their debts or claims at such time and place as shall be
specified in such notice, or in default thereof they will be
excluded from the benefit of any distribution made before such
debts are proved.


CHEE YOH CHUANG
LIM LEE MENG
Liquidators.
18 Cross Street
#08-01 Marsh & McLennan Centre
Singapore 048423.

This Singapore Government Gazette announcement is dated July 12,
2004.


INFORMATICS HOLDINGS: Shares Down 6% Upon Trade Resumption
----------------------------------------------------------
After a three-session suspension, Informatics Holdings resumed
trading Monday with a 3-cent or 6 percent dip in its shares at
SGD0.47 (USD1=S$1.6990), Dow Jones reports.

The ailing education provider requested a trading halt while it
persuaded its creditors, DBS Bank Ltd. and ABN Amro, to extend
the SGD16.2 million credit loan due on July 15. Late Friday, the
banks granted a three-month extension, which eased the firm's
woes and dismissed doubts of the firm's ability to stay solvent.

The loan extension was approved on the condition that
Informatics take a mortgage on a Singapore property in favor of
the two banks, pay the banks proceeds from an upcoming Malaysian
property sale, and undertake its proposed rights issue.

Earlier, tycoons Oei Hong Leong and Vincent Tan backed the
company's proposal for a one-for-four rights issue worth SGD19.6
million. However, the proceeds of the issuance won't be
available for another three months.

Aside from the rights issue, Informatics had announced the
proposed sale of noncore assets worth SGD15 million over the
next 15 to 18 months.

Informatics is currently being probed for misstating its
quarterly financial report ended December 2003.


INFORMATICS HOLDINGS: Shareholders Lash Out at Directors
--------------------------------------------------------
The July 9 shareholders' meeting of scandal-hit Informatics
Holdings Ltd. (I03.SG) turned into a fiery exchange between
minority shareholders and board members.

According to a Dow Jones report, frustrated shareholders accused
the directors of destroying shareholder value, with one
infuriated investor suggesting the directors forgo their fees
this year.

In response, director Frank Young defended the board saying that
they are the "good guys" and have always acted for the best
interests of the company.

The board attributed the issues to "staff shortage", but
reassured that the problem is now over. Since the Commercial
Affairs Department is currently probing the firm, they declined
to comment on who is to blame.

The shareholders and directors were to convene for the first
time since April supposedly to approve a dissolved share
placement to Oei Hong Leong. Instead, it turned out to be an
evaluation of the directors' and management's performance.

The proposed SGD19.6 million one-for-four rights issue inked by
tycoons Oei Hong Leong and Vincent Tan appears to be favored by
majority of the shareholders. Also discussed during the meeting
was the intended sale of noncore assets within 18 months.


I.R.E. CORPORATION: Announces Debt and Equity Restructuring Plan
----------------------------------------------------------------
The Directors of I.R.E. Corporation Limited refer to the
announcement made on April 29, 2004 in respect of the Debt
Conversion Exercise and are pleased to announce that the
Singapore Exchange Securities Trading Limited has on July 8,
2004 approved the Debt Conversion Exercise.

A Circular containing details of the Debt Conversion Exercise
and the opinion of the independent financial adviser, KPMG
Corporate Finance Pte Ltd and enclosing a notice of
Extraordinary General Meeting in connection therewith will be
dispatched to Shareholders shortly. The Board of Directors of
the Company will continue to make timely disclosures and
announcements on the Debt Conversion Exercise as it progresses.

By Order of the Board
Michael Tay Kwang How
Company Secretary

Submitted by Michael Tay Kwang How, Company Secretary on July 9,
2004 to the Singapore Stock Exchange.


STAMFLES REMOTE: Receives Winding Up Order
------------------------------------------
In the Matter of Stamfles Remote Site Services Pte Ltd., a
Winding Up Order was made on July 2, 2004.

Name and Address of Liquidator: Messrs Goh Ngiap Suan & Co
36 Smith Street
#06-308 New Bridge Centre
Singapore 050336.

Messrs HARIDASS HO & PARTNERS
Solicitors for the Petitioners.

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

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

This Government Gazette announcement is dated July 7, 2004.


VINES SERVICES: Creditors Must Prove Debts by August 10
-------------------------------------------------------
The creditors of Vines Services Private Limited (In Member's
Voluntary Liquidation), which is being wound up voluntarily is
required on or before August 10, 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 liquidators of the said Company. If required by
notice in writing by the said liquidators, they are to come in
personally or by their solicitors and prove their debts or
claims at such time and place as shall be specified in such
notice, or in default thereof they will be excluded from the
benefit of any distribution made before such debts are proved.

NEO BAN CHUAN
YEAP LAM KHENG
Liquidators.
c/o 16 Raffles Quay
#22-00 Hong Leong Building
Singapore 048581.

This Singapore Government Gazette announcement is dated July 9,
2004.


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


TPI POLENE: Releases 2Q 2004 Unreviewed Operating Results
---------------------------------------------------------
TPI Polene PCL (TPIPL), disclosed to the Stock Exchange of
Thailand (SET) the operating result of the unreviewed financial
statements for the second quarter ended June 30, 2004:

Total consolidated sales in Q2/2004 were at THB5,132 million
compared to THB4,636 million in the same period of the previous
year or an increase by 10.70 percent.

Net profit in Q2/2004 totaled THB486 million or earning per
share of THB0.62 (comprised of operating profit of THB701
million, an increase of 43.35 percent from THB489 million in
Q2/2003, gain on debt restructuring of THB538 million and loss
on foreign exchanges of THB755 million,) decreased by 57.45
percent from net profit of THB1,143 million or earning per share
of THB2.37 in Q2/2003.  As of June 30, 2004, the book value per
share was THB43.98.

For the first six-month period of the year 2004, TPIPL and its
subsidiaries reported net profit of THB2,823 million or earning
per share of THB3.74  compared to net profit of THB1,461 million
or earning per share THB2.97 in the same period of the previous
year, an increase of 93.23 percent.

For the second quarter ended June 30, 2004, consolidated EBITDA
increased to THB1,534 million from THB1,362 million in Q2/2003,
or increased by 12.63 percent. Consolidated EBITDA for the first
six-month period of the year 2004 was THB3,480 million compared
to THB2,717 million in the same period of the previous year, an
increase of 28.08 percent.

This was attributable to an increase of selling price during the
period combined with the lofty demand consumption for cement and
ready-mixed concrete, which was in line with the economic
expansion in the country.

Please be informed accordingly
Best regards,
Mr. Prachai Leophairatana
Chief Executive Officer

Contact:

TPI POLENE PUBLIC COMPANY LIMITED
26/56 NEW JUN ROAD,
THUNGMAHAMEK, SATHON Bangkok
Telephone: 0-2678-5100, 0-2678-5000
Fax: 0-2678-5001-5
Website: www.tpipolene.com


* BOND PRICING: For the Week 12 July to July 16, 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    5
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   10
BIL Finance Ltd                       8.750%    10/15/05    8
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    8
Fletcher Building Ltd                 8.600%     3/15/08    8
Fletcher Building Ltd                 8.750%     3/15/06    7
Fletcher Building Ltd                 8.850%     3/15/10    8
Fletcher Building Ltd                10.500%     4/30/05    7
Fernz Corp Ltd                        8.560%    10/15/06   8
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    9
Hy-Fi Securities Ltd                  8.750%     8/15/08   13
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   74
NPT Capital Ltd                       9.500%    11/30/04   10
Nuplex Industries Ltd                 9.300%     9/15/07    8
Powerco Ltd                           8.150%      9/1/07    7
Powerco Ltd                           8.400%     5/22/07    7
Queensland Treasury Corporation       0.500%     5/19/10   74
Richmond Ltd                         10.750%    12/15/04   10
Salomon Smith Barney Australia        4.250%      2/1/09    9
Sapphire Securities                   7.410%     9/20/35    7
Sapphire Securities                   9.160%     9/20/35    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    8
TrustPower Ltd                        8.500%     9/15/12    8
Urbus Properties Ltd                  9.250%     3/10/07    1
Vision Systems Ltd                    9.000%    12/15/08    2


CHINA
-----

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


KOREA
-----

Korea Electric Power Corporation       7.950%       4/1/96   57


MALAYSIA
--------

Asian Pac Holdings Bhd                 4.000%     12/22/05    1
Artwright Holdings Bhd                 5.500%      3/05/07    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
Dataprep Holdings Bhd                  4.000%       8/5/05    1
Dataprep Holdings Bhd                  4.000%       8/6/07    1
Eden Enterprises (M) Bhd               2.500%      12/2/07    1
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    1
Gula Perak Bhd                         6.000%      4/23/08    1
Hong Leong Industries Bhd              4.000%      6/28/07    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    5
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
Lion Diversified Holdings Bhd          2.000%       6/1/09    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
Naim Indah Corporation                 0.500%      8/24/06    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    1
Wah Seong Corporation Bhd              3.000%      5/21/12    3
Yu Neh Huat Bhd                        3.000%       9/2/08    1


SINGAPORE
---------

CSC Holdings Ltd                       6.500%      4/27/05    1
Rabobank Singapore                     1.000%      1/15/13   70
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.


                            *********


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
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.

                 *** End of Transmission ***