/raid1/www/Hosts/bankrupt/TCRAP_Public/040803.mbx
T R O U B L E D C O M P A N Y R E P O R T E R
A S I A P A C I F I C
Tuesday, August 3, 2004, Vol. 7, No. 152
Headlines
A U S T R A L I A
BRAMBLES INDUSTRIES: Stephen Johns Commences As Director
COLES MYER: Enters Alliance With Stockland
MAYNE GROUP: U.S. FDA Approves Abbreviated New Drug Application
MURCHISON UNITED: Appoints New Chairman and Executive Director
NATIONAL AUSTRALIA: Releases High Court Inspectors Report
* Federal Court Winds Up Investment Firms
C H I N A & H O N G K O N G
BESTCO LIMITED: Winding Up Hearing Set August 18
BLISS FINANCE: Creditors Meeting Set August 26
BONIFIELD LIMITED: Creditors Meeting Slated for August 26
CENTRAL FINANCE: Creditors Meeting Set August 26
COSMO VISION: Enters Winding Up Petition
GAIN EASY: Enters Winding Up Proceedings
HERITAGE INTERNATIONAL: Unaware of Reasons for Price, Turnover
MIKURA LIMITED: Winding up Hearing Set August 18
TRIMLY HOST: Winding up Hearing Slated for August 18
I N D O N E S I A
BANK PERMATA: PT Jamsostek Eyes Stake Sale
GARUDA INDONESIA: Mulls 12 New Aircraft Lease
J A P A N
ALL NIPPON: Profit Swells on Cost Cuts
KANEBO LIMITED: IRCJ To Buy Group Claims
RESONA HOLDINGS: Announces Concern Regarding Client's Debts
TOSHIBA CORPORATION: Net Loss Shrinks to JPY7.8Bln in Q1
UFJ HOLDINGS: Rejects SMFG's Merger Proposal
K O R E A
HANARO TELECOM: LG Telecom Says No Plan to Sell Stake
HANBO IRON: INI Steel, Hyundai Hysco Signs Deal to Buy Firm
SSANGYONG MOTOR: July Sales Down 28.7%
M A L A Y S I A
ANCOM BERHAD: Issues Notice of Shares Buy Back
ANCOM BERHAD: Completes Disposal of Shares in MPE
AOKAM PERDANA: Unveils July 30 EGM Resolutions
BESCORP INDUSTRIES: Releases Default Status Update
BUKIT KATIL: Issues Update on Loan Facilities
CONSOLIDATED FARMS: Issues Practice Note No. 1/2001 Update
CONSOLIDATED FARMS: Unveils July 30 AGM Resolutions
EKRAN BERHAD: Issues Default Status Update
HO WAH: Shareholder Discloses Closed Period Dealing
LITYAN HOLDINGS: Units Default in Payments
OSK HOLDINGS: Releases Notice of Shares Buy Back
PANTAI HOLDINGS: Purchases 95,500 Shares on Shares Buy Back
PILECON ENGINEERING: Releases Default Status Update
TANJONG PUBLIC: Posts Principal Officer's Open Period Dealings
TENAGA NASIONAL: Completes Subsidiaries' Stake Disposal
TENCO BERHAD: Updates Status On Default Payment
P H I L I P P I N E S
COLLEGE ASSURANCE: SEC Gives Until September to Snag Investor
MANILA ELECTRIC: Reacts On News Article Re CA's Ruling
NATIONAL POWER: Trans-Asia Interested in 3 Large Power Plants
PHILIPPINE LONG: Sets Investors Briefing on August 3
SEMIRARA MINING: Unveils Result of Board of Directors' Meeting
S I N G A P O R E
HIANG KIE: Winding Up Hearing Set August 13
INFORMATICS HOLDINGS: Changes Audit Committee
KHAMNEE ENGINEERING: Posts Intended Preferential Dividend Notice
LEUN WAH: Enters Winding Up Proceedings
NTS PRIVATE: Posts Notice to Creditors to Submit Claims
SHIVAKASI ENTERPRISES: Court Issues Winding Up Order
TAI HENG: Releases Intended Dividend Notice
* BOND PRICING: For the Week 2 August to 6 August 2004
- - - - - - - -
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A U S T R A L I A
=================
BRAMBLES INDUSTRIES: Stephen Johns Commences As Director
--------------------------------------------------------
On May 24, 2004, Brambles Industries Limited announced in a
press release that Stephen Johns would join the Board as Non-
executive Director, effective August 1, 2004.
Brambles in a press release dated August 2, 2004 announced that
Mr. Johns has commenced on August 1 as the company's director.
About Stephen Johns
Mr. Johns has had a long and distinguished career as a senior
Executive and Director of the Westfield Group, the world's
listed retail property group, with significant operations in
Australia, New Zealand, the United States and the United
Kingdom.
He was also a Finance Director of the Westfield Group from 1985
until 2002, when he was appointed to the role of Executive
Director, Capital Markets. In late 2003, he became a Non-
Executive Director of Westfield Holdings, Westfield Trust and
Westfield America Trust and, since then, has had an advisory
role with respect to the financial affairs of the Westfield
Group.
CONTACT:
Brambles Group (Australian:BIL)
Level 40, Gateway, 1 Macquarie Place
Sydney, 2000, Australia
Phone: +61-2-9256-5222
Fax: +61-2-9256-5299
Website: http://www.brambles.com
COLES MYER: Enters Alliance With Stockland
------------------------------------------
In a press release, Coles Myer Ltd. announced that it has
entered into an agreement with Stockland for the latter to
purchase and redevelop Coles' Tooronga project (including the
Tooronga Village Shopping Center and the old brickworks site),
subject to local Council planning approval.
Stockland intend to begin a master planning and rezoning process
for a mixed-use redevelopment expected to be in excess of $400
million. This will include a new Coles supermarket, Coles Myer
liquor stores, as well as residential (houses, townhouses and
apartments) and extensive parkland components.
Stockland Managing Director, Matthew Quinn, said an extensive
public consultation period would precede the tabling of a
detailed development proposal, expected in early 2005.
"Stockland will work closely with the Boroondara Council, the
local community and the State Government to ensure the project
meets the appropriate planning requirements and delivers the
best possible outcome for this significant site," Mr. Quinn
said.
"The project is at the initial planning stage and after
consultation with the Council and community, we would expect a
detailed development proposal by early 2005.
"This will be a landmark project that will create a modern
retail facility whilst providing a diverse range of housing
choices for the community. The site has outstanding access to
existing facilities being located seven kilometres from the CBD,
only 500m from the City Link and 800m from the train station."
Mr. Quinn said the project would deliver on Victoria's strong
emphasis on urban renewal and is a good opportunity to support
and demonstrate the State Government's Melbourne 2030 policy.
Coles Myer Ltd. CEO, John Fletcher, said: "The Tooronga site is
a significant opportunity that has stood unrealized over many
years. We are confident Stockland's plans will see it developed
appropriately including the creation of state-of-the-art retail
facilities and a brand new Coles Supermarket and liquor store,"
Mr. Fletcher said.
"We selected Stockland based on their experience in mixed use
developments and support their approach in conducting an
extensive consultative process with Council and the community."
CONTACT:
Kristen Hannah Lisa Farrelly
GM Corporate Affairs Coles Myer Ltd.
Stockland Telephone: (03) 9829 3617
Telephone: (02) 9020 8134
Claire Tracy
Coles Myer Ltd.
Telephone: (03) 9829 3615
MAYNE GROUP: U.S. FDA Approves Abbreviated New Drug Application
---------------------------------------------------------------
Mayne Group Limited (ASX: MAY) announced in a press release
Friday that the U.S. Food and Drug Administration (FDA) had
granted final approval for the company's Abbreviated New Drug
Application for the anti-infective drug, fluconazole mini bags,
in 100ml and 200ml presentations. With this approval, Mayne has
started selling fluconazole in the U.S. market. Fluconazole is
used for the treatment of systemic fungal infections.
This approval follows Mayne's announcement on 9 December 2003
regarding the FDA's tentative approval of the product.
The fluconazole mini bags are generic equivalents to Pfizer's
Diflucan mini-bag which generated sales in 2003 of approximately
$US220 million according to IMS data.
Fluconazole is an important addition to Mayne's business in the
US because it extends the Company's presence in anti-infectives
in the region and broadens the range of oncology and hospital-
specific specialty products sold in the region.
Mayne Group Limited is listed on the Australian Stock Exchange
and has businesses in pharmaceuticals (the manufacture of
injectable and oral pharmaceuticals for distribution to more
than 50 countries), diagnostic services (pathology, diagnostic
imaging, and medical centres), pharmacy, and health-related
consumer products.
CONTACT:
Mayne Group Ltd.
Level 21/390 St Kilda Rd Melbourne 3004
Telephone: +613 9868-0700
Website: http://www.maynegroup.com/
MURCHISON UNITED: Appoints New Chairman and Executive Director
--------------------------------------------------------------
Murchison United NL announced in a press release on Monday
that it has appointed Glenn Featherby as Chairman and Mark
Reilly executive director to implement a growth strategy
designed to rebuild the company over the next few years.
Outgoing Chairman Bruno Camarri and Managing Director Paul
Atherley have resigned at the completion of a successful debt
reduction programme, which has seen the Company retire over A$60
million of liabilities in a little over two years.
Atherley has offered to make his services available to the Board
if required.
Featherby and Reilly are partners in the Corporate Advisory and
Insolvency practice Featherby Reilly based in Perth, Western
Australia.
The new board anticipates that there will be additional director
appointments announced in the future as part of the overall
growth strategy.
The Company said it has retained its shareholder base and dual
listing structure and is now in a position to acquire a new
business, recapitalize and give shareholders an opportunity to
restore value.
The Company's growth strategy will focus on the acquisition and
development of emerging resource projects to which the new
management team can bring to bear capital and its project
development expertise.
A number of projects are currently under review and these will
be carefully assessed in terms of their potential to create
significant shareholder value.
CONTACT:
Murchison United NL (ASX:MUU)
Ground Floor
2 Centro Avenue
Subiaco, Western Australia 6008
Telephone: +618 9381 4711
Facsimile: + 618 9381 4722
NATIONAL AUSTRALIA: Releases High Court Inspectors Report
---------------------------------------------------------
In a press release, the Director of Corporate Enforcement in
Ireland released Friday the report of the High Court Inspectors
into certain past business activities of the National Irish Bank
(a wholly owned subsidiary of the National Australia Bank
Limited).
National Irish Bank Chief Executive Don Price said the Bank had
been working for more than six years to address the issues in
the Report, cooperate with the investigation, develop
reimbursement schemes and implement a wide ranging compliance
program.
Mr. Price said: 'The events under investigation go back a long
time. We have literally rebuilt National Irish Bank from the
ground up. It is now a very different organization.
'While cooperating and working with the investigation, we also
instigated a comprehensive change program and introduced new
systems and controls, transforming how we operate as a
business.'
Since the High Court Inspectors' investigation commenced in
1998, the National Australia Bank Group has already paid or
provided for costs of ?64 million (approximately A$109 million)
associated with its involvement in the investigation and the
remediation programs implemented or proposed by the bank.
National Australia Bank does not expect any further material
costs to result from these programs.
The High Court Inspectors' Report can be accessed on the website
of the Office of the Director of Corporate Enforcement
(www.odce.ie ) and more detailed information on the response of
National Irish Bank to this report is available on www.nib.ie .
For further information:
Samantha Evans
Brandon Phillips Group Communications Adviser
Group Manager Telephone: 03 8641 4982
Group Corporate Relations Mobile: 0404 883 509
Telephone: 03 8641 3857
Mobile: 0419 369 058
Website: www.nabgroup.com
* Federal Court Winds Up Investment Firms
-----------------------------------------
Following an application by the Australian Securities and
Investments Commission (ASIC), the Federal Court in Melbourne
has ordered that Offshore IMF Investments Pty Ltd and Dynamic
Business Centres Pty Ltd be wound up, the ASIC reported on its
Web site.
Peter McCluskey of Ferrier Hodgson has been appointed liquidator
of the companies. The directors of the companies consented to
ASIC's application.
ASIC's investigation revealed that between February 1998 and
January 2001, 12 investors, all from Victoria, put more than
$1.4 million in the two companies after being promised returns
of up to 12 per cent per annum. Although some of investor's
funds have been returned in interest payments, the companies are
now insolvent.
The majority of investors were elderly clients of Mr. Alexander
Carrick Ross. Mr. Ross was formerly a client adviser for several
Melbourne stockbroking firms, and a director of Offshore IMF
Investments.
'ASIC will continue to take appropriate action to protect the
interests of consumers, particularly those who may be more
vulnerable to the adverse effects of poor investment advice',
ASIC Executive Director of Enforcement, Ms. Jan Redfern said.
ASIC's investigation is continuing.
==============================
C H I N A & H O N G K O N G
==============================
BESTCO LIMITED: Winding Up Hearing Set August 18
------------------------------------------------
Notice is hereby given that a Petition for the Winding up of the
Bestco (Asia) Limited by the High Court of Hong Kong Special
Administrative Region was on 13 July 2004 presented to the said
Court by Bank of China (Hong Kong) Limited whose registered
office is situated at 14th Floor, Bank of China Tower, No. 1
Garden Road, Central, Hong Kong. The said Petition is directed
to be heard before the Court at 9:30 a.m. on 18 August 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.
Dated the 30th day of July 2004
Gallant Y. T. Ho & Co.
Solicitors for the Petitioner
5th Floor, Jardine House
No. 1 Connaught Place
Central, Hong Kong
Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention so to do. The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the above named not
later than six o'clock in the afternoon of the 17th day of
August 2004.
BLISS FINANCE: Creditors Meeting Set August 26
----------------------------------------------
Notice is hereby given pursuant to Section 241 of the Hong Kong
Companies Ordinance that a meeting of the creditors of Bliss
Finance Limited (In Creditors' Voluntary Liquidation) will be
held at Conference Room, 5th Floor, Allied Kajima Building, 138
Gloucester Road, Wanchai, Hong Kong at 10:45 a.m. on 26 August
2004 for the purposes of considering Sections 241, 242, 243,
244, 251(1)(a), 255A(2) and 283 of the Companies Ordinance.
This Quamnet Gazette announcement is dated 30 July 2004.
BONIFIELD LIMITED: Creditors Meeting Slated for August 26
---------------------------------------------------------
Notice is hereby given pursuant to Section 241 of the Hong Kong
Companies Ordinance that a meeting of the creditors of Bonifield
Limited (In Creditors' Voluntary Liquidation) will be held at
Conference Room, 5th Floor, Allied Kajima Building, 138
Gloucester Road, Wanchai, Hong Kong at 11:15 a.m. on 26 August
2004 for the purposes of considering Sections 241, 242, 243,
244, 251(1)(a), 255A(2) and 283 of the Companies Ordinance.
This Quamnet Gazette announcement is dated 30 July 2004.
CENTRAL FINANCE: Creditors Meeting Set August 26
------------------------------------------------
Notice is hereby given pursuant to Section 241 of the Hong Kong
Companies Ordinance that a meeting of the creditors of Central
Finance Limited will be held at Conference Room, 5th Floor,
Allied Kajima Building, 138 Gloucester Road, Wanchai, Hong Kong
at 11:45 a.m. on 26 August 2004 for the purposes of considering
Sections 241, 242, 243, 244, 251(1)(a), 255A(2) and 283 of the
Companies Ordinance.
This Quamnet Gazette announcement is dated 30 July 2004.
COSMO VISION: Enters Winding Up Petition
----------------------------------------
Notice is hereby given that a Petition for the Winding up of
Cosmo Vision Technology Company Limited by the High Court of
Hong Kong Special Administrative Region was on 5 July 2004
presented to the said Court by Yokogawa Mat Corporation whose
registered office is situated at 2-9-32 Nakacho, Musashino-shi,
Tokyo, 180-8750 Japan. The said Petition is directed to be heard
before the Court at 9:30 a.m. on the 11 August 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.
Dated the 30th day of July 2004.
VIVIEN CHAN & CO
Solicitors for the Petitioner
15th Floor, One Exchange Square
8 Connaught Road Central
Hong Kong
Ref: YBP-021800
Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention so to do. The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the above named not
later than six o'clock in the afternoon of the 10th day of
August 2004.
GAIN EASY: Enters Winding Up Proceedings
----------------------------------------
Notice is hereby given that a Petition for the Winding up of
Gain Easy Investments Limited by the High Court of Hong Kong
Special Administrative Region was on the 19 July 2004 presented
to the said Court by Hing Yip Finance & Investment Company
Limited of Unit CD, 18th Floor, Full Win Commercial Centre, 573
Nathan Road, Kowloon, Hong Kong. The said Petition is directed
to be heard before the Court at 9:30 a.m. on the 18 August 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.
HASTINGS & CO.
Solicitors for the Petitioner
5th Floor, Gloucester Tower
The Landmark, 11 Pedder Street
Central, Hong Kong
Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention so to do. The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the above named not
later than six o'clock in the afternoon of the 17th day of
August 2004.
HERITAGE INTERNATIONAL: Unaware of Reasons for Price, Turnover
--------------------------------------------------------------
The Stock Exchange of Hong Kong has received a message from
Heritage International Holdings Limited, which is reproduced as
follows:
"This statement is made at the request of The Stock Exchange of
Hong Kong Limited."
Heritage International Holdings Limited has noted the recent
increases in the trading volume of the shares of the Company and
wishes to state that it is not aware of any reasons for such
increases.
Save as the announcement of the Company for final results for
the year ended 31 March 2004, the Directors confirm that there
are no negotiations or agreements relating to intended
acquisitions or realizations which are discloseable under rule
13.23, neither is the Board aware of any matter discloseable
under the general obligation imposed by rule 13.09, which is or
may be of a price-sensitive nature.
Made by the order of the Board of Heritage International
Holdings Limited, the directors of which individually and
jointly accept responsibility for the accuracy of this
statement.
As at the date hereof, the Board comprises Mr. Kwong Kai Sing,
Benny, Mr. Ong Peter and Ms. Poon Chi Wan as executive
directors, Mr. Chung Yuk Lun as non-executive director and Mr.
Chan Sze Hung, Mr. To Shing Chuen and Mr. Frank H. Miu as
independent non-executive directors.
By Order of the Board
Heritage International Holdings Limited
Ngai Wai Kin
Secretary
30th July, 2004"
CONTACT:
Heritage International Holdings Limited
27th Floor, The centrium
60 Wyndham Street
Central
Hong Kong
Telephone: (852) 2230-3838
Fax: (852) 2230-3833
E-mail: info@heritage.com.hk
MIKURA LIMITED: Winding up Hearing Set August 18
------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Mikura Limited by the High Court of Hong Kong Special
Administrative Region was on the 19 July 2004 presented to the
said Court by Bank of China (Hong Kong) Limited whose registered
office is situated at 14th Floor, Bank of China Tower, No. 1
Garden Road, Central, Hong Kong. The said Petition is directed
to be heard before the Court at 9:30 a.m. on the 18 August 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.
Dated the 30th day of July 2004
TSANG, CHAN & WONG
Solicitors for the Petitioner
16th Floor, Wing On House
No.71, Des Voeux Road Central
Hong Kong
Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention so to do. The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the above named not
later than six o'clock in the afternoon of the 17 August 2004.
TRIMLY HOST: Winding up Hearing Slated for August 18
----------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Trimly Host Limited by the High Court of Hong Kong Special
Administrative Region was on the 13 July 2004 presented to the
said Court by Bank of China (Hong Kong) Limited whose registered
office is situated at 14th Floor, Bank of China Tower, No. 1
Garden Road, Central, Hong Kong. The said Petition is directed
to be heard before the Court at 9:30 a.m. on the 18 August 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.
Dated the 30th day of July 2004
Gallant Y. T. Ho & Co.
Solicitors for the Petitioner
5th Floor, Jardine House
No. 1 Connaught Place
Central, Hong Kong
Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention so to do. The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the above named not
later than six o'clock in the afternoon of the 17th day of
August 2004.
=================
I N D O N E S I A
=================
BANK PERMATA: PT Jamsostek Eyes Stake Sale
------------------------------------------
State social insurance agency PT Jamsostek plans to join the
long list of potential buyers for a controlling stake in Bank
Permata.
According to an Asia Pulse report, Jamsostek considers forming
an alliance with a local firm for the acquisition of 71 percent
of the government's stake in private-run Permata.
Jamsostek President Director A Djunaidi Ak disclosed Thursday
the firm's decision to participate in the tender following
approval from the Minister for State Enterprises Office, PT
Jamsostek's sole shareholder.
The government, which owns 97.17 percent of Bank Permata, had
earlier planned to divest 71 percent of its share to strategic
investors, giving more priority to local investors.
However, in order to maximize profit, the divestment scheme was
revised recently allocating 51 percent stake to strategic
investors. The remaining 20 percent will be sold later through
market placement.
CONTACT:
PT Bank Permata Tbk.
Gedung Bank Bali
Jalan Jendral Sudirman Kav. 27
Jakarta 12920
Telephone: 021-52377899 (hunting)
Fax: 021-5237206/8
GARUDA INDONESIA: Mulls 12 New Aircraft Lease
---------------------------------------------
As part of a scheme to expand its budget service Citilink,
Indonesia's flag carrier Garuda Indonesia plans to lease 12
additional aircraft between now and 2005, says The Jakarta Post.
The 12 short-range Boeing 737s will serve Citilink terminals in
the western and southern parts of Indonesia.
In a seminar held Friday, Garuda spokesman Pudjobroto said,
"Currently, Citilink services are focused on cities in the
eastern part of the country. But now we are expanding toward the
west because of the huge market potential there."
Without disclosing how much the undertaking would cost, Mr.
Pudjobroto affirmed that Garuda will receive the delivery of the
first seven of the 12 this year and the rest will arrive next
year.
CONTACT:
PT Garuda Indonesia
Garuda Indonesia Bldg.,
Jalan Merdeka Selatan No. 13
Jakarta, 10110
Indonesia
Telephone: +62 21-231-0082
Fax: +62 21-231-1679
Website: www.garuda-indonesia.com
=========
J A P A N
=========
ALL NIPPON: Profit Swells on Cost Cuts
--------------------------------------
All Nippon Airways' profit rose in the April-June quarter as
compared to the net loss it incurred previously, Japan Today
reports, citing Kyodo News.
Due to cost-cuts and passenger volume hike, the Japanese airline
posted a JPY2.43 billion income, a rebound from a prior net loss
of JPY18.32 billion. Its group pretax profit reached JPY5.87
billion, offsetting its JPY27.37 billion pretax loss. Revenue
climbed 14.5 percent to JPY297.20 billion.
CONTACT:
All Nippon Airways Co. Ltd.
5-10 Hanedakuko 3-Chome
Ohta-Ku 144-0041, Tokyo 100-6027
Japan
Telephone: +81 3 5756 5665/+81 3 5756 5679
Web site: www.anaskyweb.com
KANEBO LIMITED: IRCJ To Buy Group Claims
----------------------------------------
The Industrial Revitalization Corporation of Japan (IRCJ) has
decided to bail out the beleaguered Kanebo Group, reports Jiji
Press.
State-backed IRCJ, which currently manages Kanebo's business
revival program, will buy claims of Kanebo Limited and its 34
group companies as part of the rehabilitation scheme.
To overcome its financial woes, the textile and household
product maker on May 31 announced a restructuring plan featuring
a reduction in its core business and a large claim waiver
totaling JPY99.5 billion, aiming to purge its negative net worth
by the end of the current fiscal year.
CONTACT:
Kanebo Limited
20-20 Kaigan 3-chome, Minato-ku
Tokyo, 108-8080
Japan
Phone: +81-3-5446-3002
Fax: +81-3-5446-3027
Website: www.kanebo.co.jp
RESONA HOLDINGS: Announces Concern Regarding Client's Debts
-----------------------------------------------------------
Resona Holdings, Inc. hereby gives notice that a customer of its
banking subsidiary, Resona Bank, Ltd. ("Resona Bank," President:
Masaaki Nomura), was declared bankrupt from the Tokyo District
Court. As a result of this development, there arose a concern
that the claims to the Customer may become irrecoverable or
their collection may be delayed. Details were announced as
follows:
(1) Outline of the Customer
(i) Name Individual
(ii) Line of business Real Estate Leasing
(2) Fact Arisen to the Customer and Its Date
The Customer was declared bankrupt from the Tokyo District Court
on July 21, 2004. (Received the notice of declaration of
bankruptcy on July 23, 2004)
(3) Amount of Claims to the Customer
Exposure of Resona Bank Loans: 2.5 billion yen
Other banking subsidiaries of Resona HD, Saitama Resona Bank,
Kinki Osaka Bank and Nara Bank have no claims to the Customer.
(4) Impact of This Development on the Forecasted Earnings of
Resona HD
The aforementioned claims of Resona Bank are covered by
collateral and loan loss reserves. Therefore, the previous
earnings forecasts of Resona HD for the fiscal year ending March
31, 2005, which were announced on May 24, 2004, remain
unchanged.
TOSHIBA CORPORATION: Net Loss Shrinks to JPY7.8Bln in Q1
--------------------------------------------------------
Toshiba Corporation's first quarter net loss has dipped from a
year before as it gradually recovers from a steep profit fall,
Infocast says.
The computer maker reported a reduced net loss of JPY7.8 billion
for the first quarter of the current fiscal year from the hefty
JPY36.9 billion loss it suffered in the same period last year.
The firm, likewise, saw a 12 percent rise in sales generating
JPY1.25 trillion.
Due to brisk personal computer sales and strong demand for flash
memory chips, Toshiba now projects a first half net loss of JPY5
billion, significantly lesser than the JPY30 billion forecasted
earlier.
CONTACT:
Toshiba Corporation
1-1, Shibaura 1-chome, Minato-ku
Tokyo 105-8001, Japan
Phone: +81-3-3457-4511
Fax: +81-3-3455-1631
Website: www.toshiba.com
UFJ HOLDINGS: Rejects SMFG's Merger Proposal
--------------------------------------------
Cash-strapped UFJ Holdings has ruled out a possible merger with
Sumitomo Mitsui Financial Group Inc. (SMFG), NewsOnJapan
reveals.
UFJ President Ryosuke Tamakoshi declared that UFJ has no
intention to negotiate with SMFG, stressing that it will pursue
merger talks with Mitsubishi Tokyo Financial Group Inc. (MTFG).
In efforts to counter a similar bid from rival MTFG, SMFG
unveiled last week a merger proposal with UFJ.
"We will probably issue a polite response, but our policy of
merging with Mitsubishi Tokyo is already decided and we cannot
consider anything else," Mr. Tamakoshi said.
MTFG and UFJ had originally planned to ink a deal Friday that
would form the world's biggest bank with USD1.7 trillion assets.
However, the plan was derailed by a Tokyo Court order halting
merger negotiations between the two parties in favor of SMFG.
SMFG claimed that UFJ performed a breach of contract after
canceling an agreement that would allow SMFG to acquire UFJ's
trust banking business.
CONTACT:
UFJ Holdings, Inc.
5-6, Fushimimachi 3-chome,
Chuo-ku, Osaka-shi,
Osaka 541-0044,
Japan
Website: www.ufj.co.jp
=========
K O R E A
=========
HANARO TELECOM: LG Telecom Says No Plan to Sell Stake
-----------------------------------------------------
LG Telecom Limited is not selling its 1.4 percent stake in
Hanaro Telecom Inc., Yonhap News reports.
"We have no intention to sell Hanaro shares," Jung Kyung-rae,
Chief Financial Officer of LG Telecom, said in a conference call
with analysts and investors.
Resurrected from near-bankruptcy by a group of investors led by
U.S. insurer American International Group, Hanaro Telecom
incurred a net loss of 165.3 billion won on sales of 1.38
trillion won in 2003, TCR-AP reported recently.
The local broadband company has not earned an annual profit
since it began its service in 1999. AIG teamed up with private-
equity firm Newbridge Capital in October last year to take a
39.56 percent controlling stake in the company for US$500
million.
CONTACT:
Hanaro Telecom Headquarters
Shindongah Fire & Marine Insurance Building 43, Taepyeongno2-Ga,
Jung-Gu, Seoul 100-733 Korea
Tel: 82-106
Fax: 82-2-6266-4399
E-mail: trexx@hanaro.com
HANBO IRON: INI Steel, Hyundai Hysco Signs Deal to Buy Firm
-----------------------------------------------------------
A consortium comprising INI Steel Co. and Hyundai Hysco signed a
formal contract on Saturday to acquire Hanbo Steel Co., Dow
Jones Newswires reports.
The consortium had initially offered to pay KRW910 billion, but
reportedly adjusted the price downward to KRW870-880 billion
after due diligence revealed Hanbo's financial position was
weaker than expected. The consortium also agreed to guarantee
employment to Hanbo workers for three years after the takeover.
Hanbo Steel was first put up for sale after it went bankrupt in
January 1997. The Company is still under court receivership.
Korea Asset Management Corporation, a state-run corporate
restructuring organization, is currently Hanbo's biggest
creditor.
CONTACT:
Hanbo Iron & Steel Company Limited
316 Daechi Dong
Kangnam Gu, Seoul 135-280
KOREA (SOUTH)
Tel: +82 2 5606 114
Tel: +82 2 552 4473
SSANGYONG MOTOR: July Sales Down 28.7%
--------------------------------------
Sales at Ssangyong Motor Co. tumbled 28.7 percent year-on-year
to 8,913 units, according to Yonhap news. Domestic sales plunged
31.5 percent to 7,093 vehicles in July from a year ago, while
exports slipped 14.8 percent to 1,820.
According to the TCR-AP, The automaker and its union have
reached a tentative deal on wage hikes last week. The agreement
called for a 6.8 percent or a KRW75,000 (US$65) increase in base
monthly salary, which is lower than the union's demand of 10.5
percent.
CONTACT:
Ssangyong Motor Company Limited
150-3 ChilgoE-dong
Pyeongtaek-si, Kyonggi 459-711
KOREA (SOUTH)
Tel: +82 31 610 1114
Tel: +82 31 610 3739
===============
M A L A Y S I A
===============
ANCOM BERHAD: Issues Notice of Shares Buy Back
----------------------------------------------
Ancom Berhad disclosed to Bursa Malaysia Securities Berhad the
details of its shares buy back on July 30, 2004.
Date of buy back from: 19/07/2004
Date of buy back to: 27/07/2004
Total number of shares purchased (units): 115,100
Minimum price paid for each share purchased (RM): 0.820
Maximum price paid for each share purchased (RM): 0.840
Total amount paid for shares purchased (RM): 96,772.08
The name of the stock exchange through which the shares were
purchased: Bursa Malaysia Securities Berhad
Number of shares purchased retained in treasury (units): 115,100
Total number of shares retained in treasury (units): 3,885,400
Number of shares purchased, which were cancelled (units): 0
Total issued capital as diminished: 201,856,767
Date lodged with registrar of companies: 30/07/2004
Lodged by: PFA Corporate Services S/B
Level 14, Uptown 1, D'sara Uptown
47400 PJ
CONTACT:
Ancom Berhad
Level 14, Uptown 1
No. 1 Jalan SS21/58
Damansara Uptown
47400 Petaling Jaya
Selangor
Telephone: 03-77252888
Fax: 03-77257791
Website: http://www.ancom.com.my
ANCOM BERHAD: Completes Disposal of Shares in MPE
-------------------------------------------------
Further to the announcement dated 16 July 2004, Ancom Berhad
announced the disposal of 1,363,000 Ordinary Shares of RM1.00
each in Material Performance Engineering Sdn Bhd (MPE) that the
above-mentioned disposal has been completed on July 30, 2004.
AOKAM PERDANA: Unveils July 30 EGM Resolutions
----------------------------------------------
Aokam Perdana Berhad refer to the Extraordinary General Meeting
(EGM) held on 30 July at Dewan Berjaya, Bukit Kiara Equestrian &
Country Resort, Jalan Bukit Kiara, Jalan Damansara Heights,
60000 Kuala Lumpur at 10 a.m. and wish to advise the following
voting results:
(i) Special Resolution 1 - Proposed Rescue Scheme - Approved
(ii) Special Resolution 2 - Proposed Increase in the Authorized
Share Capital of the Company - Approved
(iii) Special Resolution 3 - Proposed Amendments to the
Memorandum and Articles of Association of the Company - Approved
(iv) Ordinary Resolution 1 - Proposed Employees' Share Option
Scheme - Approved
(v) Ordinary Resolution 2 - Proposed Issue of Options to Dr. Tee
Choon Hwa - Approved
(vi) Ordinary Resolution 3 - Proposed Issue of Options to Mr.
Peter Lee Pui Tet - Approved
(vii) Ordinary Resolution 4 - Proposed Special Issue of
7,000,000 new Aokam Shares of RM1.00 each together with
7,000,000 free detachable warrants to Dato' Haji Mohd Salleh Bin
Zakaria - Not Approved
This Bursa Malaysia announcement is dated 30 July 2004.
CONTACT:
Aokam Perdana Berhad
189 Jalan Tun Razak
Kuala Lumpur, 50400
MALAYSIA
Telephone: +60 3 2166 3466
Telephone: +60 3 2166 3455
BESCORP INDUSTRIES: Releases Default Status Update
--------------------------------------------------
As required by the Bursa Malaysia Practice Note 1/2001, Bescorp
Industries Berhad (BIB) hereby provides an update on its default
in payment, as follows:
The default by BIB as at 30 June 2004 amounted to
RM61,567,500.87 made up of a principal sum of RM32,220,139.42
plus RM29,347,361.45 in interest for revolving credit
facilities.
As at 30 June 2004, the remaining subsidiary companies of BIB,
namely Bescorp Construction Sdn Bhd (In Liquidation), Bescorp
Piling Sdn Bhd (In Liquidation), Bescorp Concrete Sdn Bhd (In
Liquidation), Bespile Sdn Bhd (In Liquidation) and Waktu Cerah
Sdn Bhd (Special Administrators Appointed), defaulted on a total
sum of RM168,772,860.31 made up of a principal sum of
RM58,780,492.90 plus RM45,875,944.78 in interest for revolving
credit facilities, term loan, banker's acceptance, hire purchase
and lease facilities, and RM64,116,422.63 for overdraft
facilities.
There were no further developments since our previous
announcement with regards to this Practice Note.
For more information, go to
http://bankrupt.com/misc/tcrap_bescorp0802.xls
CONTACT:
Bescorp Industries Berhad
7th Floor, Centrel Tower
Wisma Consplant, 2 Jalan SS16/4
Subang Jaya
47500 Petaling Jaya, Selangor
Malaysia
Telephone:603-7327988
Fax: 603-7349967
BUKIT KATIL: Issues Update on Loan Facilities
---------------------------------------------
The Board of Directors of Bukit Katil Resources Berhad (BKATIL)
issued an update on its loan facilities as follows:
Bumiputra-Commerce Bank Berhad
The application by the bank to enter summary judgement against
the Company was allowed by the Learned Senior Assistant
Registrar on 16 July 2004. The Company has filed a Notice of
Appeal against the said decision to the Judge in Chamber.
The Company is still in the process of seeking third party
financing to settle the loan facilities.
OCBC Bank (Malaysia) Berhad
OCBC Bank (Malaysia) Berhad has obtained an order for sale on 14
November 2003 on Omega Bricks Sdn Bhd's land held under Grant
Reg No. 31, Lot No 5058 Mukim Gunung Semanggol, Daerah Krian,
Negeri Perak. The Company has filed a Notice of Appeal against
the said Order for Sale.
OCBC Bank (Malaysia) Berhad has also obtained a winding-up
petition under Section 218(2) of the Companies Act, 1965 on 6
October 2003 and was served on the company on 14 November 2003.
The winding-up petition, which came for hearing on 30 June 2004
has been adjourned to 8 September 2004.
The company is still in the process of seeking alternative
financing from other financial institutions for the repayment of
the defaulted sums.
Alliance Merchant Bank Berhad
Hearing has been fixed for 4 August 2004 to consider the Bank's
application for summary judgement as well as the Company's
counterclaim.
The Company is still actively negotiating with other financial
institutions to refinance the outstanding sums.
The Board of Directors of BKATIL would like to further provide
an update on the details of all facilities currently in default
in compliance with Section 3.1 of Practice Note 1/2001.
Borrowings in default as at 30 June 2004 with Bumiputra-Commerce
Bank Berhad, OCBC Bank (Malaysia) Berhad and Alliance Merchant
Bank Berhad are shown at
http://bankrupt.com/misc/tcrap_bukitkatil0802.doc.
This Bursa Malaysia announcement is dated 30 July 2004.
CONTACT:
Bukit Katil Resources Berhad
DAMANSARA TOWN CENTRE
Jalan Damanlela Pusat Bandar Damansara, Damansara Heights, Kuala
Lumpur 50490 MALAYSIA
Telephone: +60 3 2095 7077
Telephone: +60 3 2094 9940
CONSOLIDATED FARMS: Issues Practice Note No. 1/2001 Update
----------------------------------------------------------
Further to the monthly status announcement under the Practice
Note No. 1/2001 on 23 July, 2004, the Board of Directors of
Consolidated Farms Berhad (Confarm) announced that the Group is
unable to pay the additional principal and/or interest in
respect of its credit facilities as set out in Table I
(http://bankrupt.com/misc/tcrap_consolidatedtableI0802.doc.)
In a disclosure to the Bursa Malaysia Securities Berhad, 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.
CONTACT:
Consolidated Farms Berhad
Company no: 088244-T
Lot 1758
Kundang
48020 Rawang, Selangor
Malaysia
Telephone: 603-6041133/4
Fax: 603-6042193
CONSOLIDATED FARMS: Unveils July 30 AGM Resolutions
---------------------------------------------------
Consolidated Farms Berhad refer to its Twenty-first Annual
General Meeting (AGM) held on 30 July 2004 and are pleased to
inform that all resolutions (except Resolution No. 2 in respect
of payment of Directors' fees for the financial year ended 31
January, 2004) as per the Notice of the Twenty-First Annual
General Meeting of Consolidated Farms Berhad dated 8 July, 2004,
were duly passed at the Twenty-First Annual General Meeting held
on 30 July, 2004 at 10 a.m. at Dewan Seroja, Kelab Golf
Perkhidmatan Awam, Bukit Kiara, Off Jalan Damansara, 60000 Kuala
Lumpur.
In a disclosure to the Bursa Malaysia Securities Berhad, the
Company did not seek for shareholder's approval on Resolution
No. 2 in respect of the payment of Directors' fees for the
financial year ended 31 January 2004 as all Directors have
voluntarily waived their entitlement of directors' fees.
EKRAN BERHAD: Issues Default Status Update
------------------------------------------
As required by the Bursa Malaysia Securities Berhad Practice
Note 1/2001, Ekran Berhad (KPK) hereby provides an update on its
default in payments as of 30 July 2004.
For more information, go to
http://bankrupt.com/misc/tcrap_Ikran0802.doc.
CONTACT:
Ekran Berhad
Jalan Parlimen
Kuala Lumpur, SARAWAK 50480
MALAYSIA
Telephone: +60 82 236908
Telephone: +60 82 236922
HO WAH: Shareholder Discloses Closed Period Dealing
---------------------------------------------------
Ho Wah Genting Berhad wishes to inform the Bursa Malaysia
Securities Berhad that its substantial shareholder, Kintron
Holding Sdn Bhd (KHSB) had notified the Company of its intention
to deal in the Company's securities during its closed period
from 2 August 2004 to 31 August 2004.
KHSB's current shareholding in HWGB is as follows:
i. 10,341,000 shares are registered in the name of KHSB;
ii. 20,233,000 shares are registered in the name of OSK
Nominees (Tempatan) Sdn Berhad;
iii. 7,509,000 shares are registered in the name of Amsec
Nominees (Tempatan) Sdn Bhd; and
iv. 7,000,000 shares are registered in the name of RHB
Nominees (Tempatan) Sdn Bhd.
KHSB is interested in disposing approximately 6,000,000 ordinary
shares of HWGB during the closed period.
The following directors of KHSB are deemed interested in the
aforementioned shares by virtue of them sitting on the Board of
HWGB and the substantial shareholders are deem interested in the
said shares by virtue of them connected to Mr Goh Sin Huat, the
Group Executive Chairman of HWGB.
Kintron Holding Sdn Bhd's substantial shareholder Current
shareholdings as at 30 July 2004
Goh Sin Huat Director of HWGB & KHSB Direct Interest Deem
Interest
Chien, Chao-Chuan Director of HWGB & KHSB 58,000 45,353,000
Lee La Kim Spouse of Mr Goh Sin Huat - 45,411,000
Expand Quest Sdn Bhd Nominee of Mr Goh Sin Huat -
CONTACT:
Ho Wah Genting International
371 Beach Rd., Ste. 16-09 Keypoi
Singapore, 199597 Singapore
LITYAN HOLDINGS: Units Default in Payments
------------------------------------------
Lityan Holdings Berhad (LHB) announced that the Company's wholly
owned subsidiaries, Imagebase Sdn Bhd (ISB) and Lityan Marketing
Sdn Bhd (LMSB) defaulted on their repayments of term loan
facility of RM4 million and RM6 million respectively granted by
Affin-ACF Finance Berhad (Affin-ACF), as detailed in
http://bankrupt.com/misc/tcrap_lityan0802.doc.
Reasons for the default in payments
1) The term loan facilities totaling RM10 million were obtained
by ISB and LMSB for the acquisition of approximately 298 acres
of agricultural land located in Melaka in year 1996 with the
intention of developing an integrated centre for information
technology known as Melaka Resource Information Centre (MRIC)
together with Yayasan Melaka. This was in line with the Melaka
Government's effort in enhancing its information technology
infrastructure and transforming Melaka as the Information
Technology Corridor. Due to the economic crisis in years 1997/
1998, the intended development of the MRIC was aborted.
Following the unsuccessful attempts to dispose the land, the LHB
Group intended to develop the land into an integrated township,
which had been approved by the Melaka Government but the project
was again put on hold due to unfavorable market conditions. LHB
is taking steps to dispose this non-core asset to repay the
outstanding loans and raise additional working capital.
2) Delay in implementation of LHB's proposed renounceable two-
call rights issue, which was announced on 27 September 2002. As
announced, the proposed rights issue will reduce the LHB Group's
borrowings significantly, including the said term loan
facilities. The proposed rights issue which has already secured
all the necessary approvals is at the last hurdle and has to be
delayed due to weak market sentiment. This delay has put a
further strain on the LHB Group's current cash flow condition.
3) Delay in payments by major customers.
Measures by LHB to address the default in payments
The management will further negotiate with Affin-ACF to
regularize the amounts due and owing to them by ISB and LMSB.
LHB will use the proceeds from its proposed rights issue to
repay the Group's borrowings and is actively taking steps to
dispose the Group's non core investments and non-operating
assets including the land in Melaka to generate cash flow.
Financial and legal implications in respect of the default in
payments including the extent of LHB's liability in respect of
the obligations incurred under the agreements for the
indebtedness.
The estimated total amount outstanding as at 28 July 2004, in
relation to the payments which are in default and are the
subject matter of this announcement, is RM1,093,364.90, as
indicated in Table A. The whole outstanding loan as at current
date of RM4.15 million (excluding interest) is pledged against
the Melaka land valued at RM15.26 million as at January 2003 by
Vigers (KL) Sdn Bhd.
Since LHB is the guarantor for the loans of ISB and LMSB, LHB is
liable for the full amount and any further interest and
financial cost levied until the settlement of these loans. LHB
is confident of the repayment of these loans.
Whether the default in payment constitutes an event of default
under a different agreement for indebtedness (cross default)
Not applicable.
CONTACT:
Lityan Holdings Berhad
Bangunan Lityan, Peremba Square Saujana Resort,
Section U2 40150 Shah Alam
Selangor Darul Ehsan Malaysia
Telephone: + 603-7622-1188
Fax: +603-7666-6870
E-mail: enquiry@lityan.com.my
OSK HOLDINGS: Releases Notice of Shares Buy Back
------------------------------------------------
OSK Holdings Berhad disclosed to Bursa Malaysia Securities
Berhad the details of its shares buy back on July 30, 2004.
Date of buy back: 30/07/2004
Description of shares purchased: Ordinary Shares of RM1.00 each
Total number of shares purchased (units): 829,900
Minimum price paid for each share purchased (RM): 1.530
Maximum price paid for each share purchased (RM): 1.560
Total consideration paid (RM): 1,283,611.96
Number of shares purchased retained in treasury (units):
Number of shares purchased which are proposed to be cancelled
(units):
Cumulative net outstanding treasury shares as at to-date (units)
38,791,200
Adjusted issued capital after cancellation (no. of shares)
(units) :
CONTACT:
Osk Holdings Berhad
Jalan Ampang
50450 Kuala Lumpur, 50450
MALAYSIA
Telephone: +60 3 2162 4388
Telephone: +60 3 2161 8254
PANTAI HOLDINGS: Purchases 95,500 Shares on Shares Buy Back
-----------------------------------------------------------
Pantai Holdings Berhad disclosed to Bursa Malaysia Securities
Berhad the details of its shares buy back on July 30, 2004.
Date of buy back: 30/07/2004
Description of shares purchased: Ordinary shares of RM1.00 each
Total number of shares purchased (units): 95,500
Minimum price paid for each share purchased (RM): 0.880
Maximum price paid for each share purchased (RM): 0.895
Total consideration paid (RM): 85,595.14
Number of shares purchased retained in treasury (units): 95,500
Number of shares purchased which are proposed to be cancelled
(units):
Cumulative net outstanding treasury shares as at to-date
(units): 21,329,100
Adjusted issued capital after cancellation (no. of shares)
(units) :
CONTACT:
Pantai Holdings Berhad
8 Jalan Damansara Endah
Damansara Heights Kuala Lumpur, Malaysia 50490
MALAYSIA
Telephone: +60 3 2713 2282
Telephone: +60 3 2094 4528
PILECON ENGINEERING: Releases Default Status Update
---------------------------------------------------
Further to the announcement made by Pilecon Engineering Berhad
on 30 June 2004 with regards to the status of default in payment
pursuant to Practice Note 1/2001, the Company wishes to hereby
announce that there have not been any changes to the status of
default since then.
In a disclosure to the Bursa Malaysia Securities Berhad, the
Company has revised its earlier Proposed Scheme of Arrangement
(Scheme) and has on 28 February 2004 submitted to the Securities
Commission an appeal against their decision in rejecting the
original Scheme.
Please refer to the announcement dated 27 February 2004 made by
the Company on the revised Scheme for more details and
information.
CONTACT:
Pilecon Engineering Berhad
No 2 Jalan U1/26 Seksyen U1
Shah Alam, Selangor Darul Ehsan 40150
MALAYSIA
Telephone: +60 3 7804 1888
Telephone: +60 3 7804 3888
TANJONG PUBLIC: Posts Principal Officer's Open Period Dealings
--------------------------------------------------------------
Tanjong Public Limited Company have been notified of the
following dealings by Principal Officers of the Company pursuant
to Paragraph 14.09 (a) of the Listing Requirements of Bursa
Securities:
1. Notification by Uma Maniam Muthusamy on 30 July 2004:
(a) (i) That he has disposed in the open market of the Bursa
Securities, 12,000 shares of 7.5 pence each in Tanjong
representing 0.003% of the issued share capital of Tanjong as at
the date of the Stransaction;
(ii) Date of transaction - 28 July 2004; and
(iii) Transaction price - RM13.00 per share of 7.5 pence each.
2. Notification by Chong Kah Yoong on 30 July 2004:
(a) (i) That he has disposed in the open market of the Bursa
Securities, 8,000 shares of 7.5 pence each in Tanjong
representing 0.002% of the issued share capital of Tanjong as at
the date of the transaction;
(ii) Date of transaction - 29 July 2004; and
(iii) Transaction price - RM13.00 per share of 7.5 pence each.
CONTACT:
Tanjong PLC
Kuala Lumpur City Centre
Kuala Lumpur, 50088
MALAYSIA
Telephone: +60 3 381 3388
Telephone: +60 3 381 3399
TENAGA NASIONAL: Completes Subsidiaries' Stake Disposal
-------------------------------------------------------
Further to the announcements made on 25 February 2004, 24 May
2004 and 23 July 2004 respectively, Tenaga Nasional Berhad (TNB)
wishes to announce to the Bursa Malaysia Securities Berhad that:
(i) The disposal of 15% stake in Port Dickson Power Bhd; and
(ii) The disposal of entire 20% stake in Janaurus PDP Sdn Bhd to
Sime Darby Berhad pursuant to Share Sale Agreement executed on
25 February 2004, have been duly completed today.
This announcement is dated 30th July 2004.
CONTACT:
Tenaga Nasional Berhad
129 Jalan Bangsar
Kuala Lumpur, 59200
MALAYSIA
Telephone: +60 3 2296 5566
Telephone: +60 3 2283 3686
TENCO BERHAD: Updates Status On Default Payment
-----------------------------------------------
The Board of Directors of Tenco Berhad informs the Bursa
Malaysia Securities Berhad that there is no material development
to the status of default payment to Lenders as announced
previously on 31 May 2004.
CONTACT:
Tenco Berhad
5 Jalan Pelabur 23/1
40000 Shah Alam, Selangor
Malaysia
Telephone: 603-5410612
Fax: 603-5410132
=====================
P H I L I P P I N E S
=====================
COLLEGE ASSURANCE: SEC Gives Until September to Snag Investor
-------------------------------------------------------------
College Assurance Plan (CAP) sought for an extension of time to
find a foreign investor that would infuse $100 million for its
trust fund, according to the BusinessWorld.
According to the Securities and Exchange Commission (SEC)
Chairman Lilia R. Bautista, CAP wrote to them and said that it
is still negotiating with possible investors to infuse fresh
funds that's why they can't give a name yet. However, CAP
officials have reportedly visited China and Hong Kong recently.
In an earlier report, CAP said that it is currently in talks
with three investors, which includes two Asian and one North
American. The infusion of funds by these investors will help
CAP address the huge difference between its actuarial reserve
liability (arl) and its trust fund, or assets.
The actuarial reserve liability refers to the projected future
liabilities for pre-need plans maturing at a given time. CAP's
arl amounts to PHP25.5 billion with only PHP8.4 billion in trust
assets as of end-2003, which brings a PHP17-billion discrepancy
in its trust assets.
The SEC originally gave CAP until end-July to identify a foreign
investor that would put in the equity it needs to fund its
PHP3.4-billion requirement for the year. Since CAP was not able
to comply with the deadline, the SEC gave the pre-need firm
until September to pay its commitments to plan holders in
preparation for the month of October which is another school
term, and again time for CAP to pay its commitments.
If CAP failed to snag an investor by September it will be
compelled to hold talks with investors who approached the SEC
expressing interest to invest in CAP.
Among the investors interested in CAP is a European investment
bank, which is represented by a Filipino party. The European
investor is proposing a takeover of CAP, Ms. Bautista said.
CAP was given by the SEC a regulatory leeway, which is intended
primarily to give pre-need companies reasonable transition to
address the discrepancy between their actuarial reserve
obligations, or projected future liabilities.
MANILA ELECTRIC: Reacts On News Article Re CA's Ruling
------------------------------------------------------
The Manila Electric Co. (Meralco) in a press release issued a
reaction to newspaper reports that the Court of Appeals (CA) has
annulled the Energy Regulatory Commission's Order on the
unbundling of its rates on Friday, saying its "lifeline
customers" will be the ones negatively affected by the decision.
According to Elpi O. Cuna, Meralco Vice President for Corporate
Communication, Meralco has yet to receive the CA order but if
this is true, it has no choice but to file a motion for
reconsideration in the interest not only of the company but its
lifeline customers as well.
"The CA decision will mostly affect our lifeline customers or
those consuming within 100 kwh per month as they will lose the
subsidy granted under the unbundling decision of the ERC and
will therefore have to pay higher rates," Mr. Cuna said.
"At present these lifeline customers represent about one-third
of our total number of customers. The ERC order provided
graduated discounts to these lifeline customers, for example,
those consuming within 50 kwh get a 50 percent discount in their
monthly bills. With the CA decision, this subsidy will no
longer be available and as such these poorer customers will have
to pay more for their electricity," Mr. Cuna added.
The unbundling of charges of all electric utilities in the
Philippines was in compliance with Section 36 of Republic Act
9136 of the Electric Power Industry Reform Act of 2001.
"We merely followed the law. As mandated by the EPIRA, we filed
our petition for unbundling on December 26, 2001. The ERC
decision on Meralco's unbundling came out on March 20, 2003
after almost a year and a half of extensive regulatory
proceedings and public scrutiny, including the conduct of 55
public hearings participated in by 18 organizations and
interested parties," Mr. Cuna said.
In an earlier statement, Meralco President and Chief Operating
Officer Jesus Francisco said that if the decision is true,
Meralco would be extremely disappointed because of the
repercussions to the utility firm and the power industry.
"We have nothing to hide. All out transactions are aboveboard
and our books have always been open to the public. We are a
publicly listed company and our every move is closely watched
and heavily regulated by government agencies, "Mr. Francisco
said.
CONTACT:
MANILA ELECTRIC CO.
Lopez Building
Ortigas Avenue, Pasig City
Telephone Numbers: 16220 (TL); 633-4553 (Corp. Sec.)
Fax Number: 631-5572
Email Address: corcom@meralco.com.ph
Website: http://www.meralco.com.ph
NATIONAL POWER: Trans-Asia Interested in 3 Large Power Plants
-------------------------------------------------------------
Trans-Asia Oil and Energy Development Corp. is keen on buying
three major power plants of National Power Corporation
(Napocor), according to the BusinessWorld.
Trans-Asia is interested to bid in the 600-megawatt (MW)
Masinloc coal plant in Zambales, the 600-MW Batangas coal plant
in Calaca and the 425-MW Makiling-Banahaw (Mak-Ban) geothermal
power plant in Laguna, the oil exploration firm's president
Francisco L. Viray said, who is incidentally a former Energy
Chief.
According to Mr. Viray, Trans-Asia is interested in bidding for
the power plants because these are among the three large plants
of Napocor.
"We're just hoping to participate in the privatization of
Masinloc, Calaca or Tiwi-Makban, plus Pinamucan. Any of the
three, if we get one then we'll stop. We're interested in
getting one, plus Pinamucan," the BusinessWorld quoted Mr. Viray
as saying.
Other companies who have submitted letters of intent to
participate in the sale are from India, Japan, Korea, the US and
Southeast Asia, Energy Secretary Vincent S. Perez said.
PHILIPPINE LONG: Sets Investors Briefing on August 3
----------------------------------------------------
Philippine Long Distance Telephone Co. (PLDT) announced to the
Philippine Stock Exchange that it will hold an Investors
Briefing to discuss the company's First Half Financial and
Operating Results and update on the company's various strategic
and corporate initiatives on Tuesday, August 3, 2004, at 4:00
p.m. at the Manila A & B Function Rooms, Makati Shangri-la
Hotel, Makati City.
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
SEMIRARA MINING: Unveils Result of Board of Directors' Meeting
--------------------------------------------------------------
Semirara Mining Corp. disclosed to the Philippine Stock Exchange
the result of the special Board of Directors meeting held on
June 30, 2004. The Board approved the elimination of the
fractional shares resulting from the recent restructuring of the
company's capital stock approved by the Securities and Exchange
Commission last July 2, 2004. Upon the availability of
unrestricted retained earnings, the company shall purchase the
fractional shares and revert them to treasury.
The board authorized the submission of an application for
additional listing on the Philippine Stock Exchange of
19,657,388 common shares subscribed by DMCI Holdings Inc. out of
the increase in authorized capital stock approved by the SEC on
July 2, 2004 as part of restructuring.
Subject to stockholders approval, the Board also approved an
increase in the Corporation's authorized capital stock from
PHP100,000,000 to PHP400,000,000 and the conduct of a rights
offering of up to 300,000,000 common shares from the increase in
authorized capital stock. The 300,000,000 common shares shall
be offered for subscription at par value to stockholders of
record in proportion to their existing equity ownership. In
this regard, the Board authorized the President of the
Corporation, Mr. Victor A. Consunji to fix the date of the
stockholders' meeting, the record date, offering period and
other details of the rights offering.
To view full copy of the list of committee members, click
http://bankrupt.com/misc/semiraramining080204.pdf
CONTACT:
Semirara Mining Corp.
4/F, Dacon Building
2281 Pasong Tamo Ext., Makati City
Telephone Numbers: 867-3377 to 79; 888-3000
Fax Number: 888-3000 local 1136
Email Address: demagdayo@dmci.net
=================
S I N G A P O R E
=================
HIANG KIE: Winding Up Hearing Set August 13
-------------------------------------------
Notice is hereby given that a Petition for the winding up of
Hiang Kie Pte Ltd. by the High Court was, on July 21, 2004,
presented by the Judicial Managers of Hiang Kie Pte Ltd (Under
Judicial Management), a Company incorporated under the laws of
Singapore and having its registered office at 10 Collyer Quay,
#21-01 Ocean Building, Singapore 049315.
The Petition is directed to be heard before the Court sitting at
Singapore at 10.00 am in the forenoon on August 13, 2004.
Any creditor or contributory of the Company desiring to support
or oppose the making of an Order on the said Petition may appear
at the time of the 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 copy
of the Petition by the undersigned on payment of the regulated
charge for the same.
The Petitioner's address is 10 Collyer Quay, #21-01 Ocean
Building, Singapore 049315.
The Petitioner's solicitors are Messrs Rajah & Tann of No. 4
Battery Road, #15-01 Bank of China Building, Singapore 049908.
Messrs Rajah & Tann
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, Messrs Rajah & Tann of No. 4 Battery Road, #15-01
Bank of China Building, Singapore 049908, 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 or firm, or his or
their solicitors (if any) and must be served, or, if posted must
be sent by post in sufficient time to reach the Petitioner's
solicitors not later than twelve o'clock noon of the 12th day of
August 2004 (the day before the day appointed for the hearing of
the Petition).
This Singapore Government Gazette announcement is dated July 30,
2004.
INFORMATICS HOLDINGS: Changes Audit Committee
---------------------------------------------
Further to the announcement made on July 14, 2004 regarding the
independent directors, the Board of Directors of Informatics
Holdings Ltd wishes to announce that Mr. Frank Yung-Cheng Yung,
Mr. Tang Chun Choy and Dr. Seet Ai Mee nee Ling have
relinquished their positions in the Audit Committee following
their resignations with effect from 30 July 2004 and that the
new Audit Committee has been formed as follows:
Professor Neo Boon Siong - Chairman
Mr. Ung Gim Sei - Member
Mr. Anderson Tang Siu Ki - Member
The Board considers Professor Neo, Mr. Ung and Mr. Anderson Tang
as independent directors pursuant to Rule 704(8) of the Listing
Manual.
By Order of the Board
Michael Tay Kwang How
Company Secretary
Submitted by Michael Tay Kwang How, Company Secretary on July
30, 2004 to the Singapore Stock Exchange.
KHAMNEE ENGINEERING: Posts Intended Preferential Dividend Notice
----------------------------------------------------------------
Khamnee Engineering And Construction Pte Ltd. has issued a
Notice of Intended Preferential Dividend.
Address of Registered Office: Formerly of 96 Joo Chiat Place
Singapore 427821.
Court: Supreme Court, Singapore.
Number of Matter: Companies Winding Up No. 148 of 2000.
Last Day for Receiving Proofs: 13th August 2004.
Name & Address of Liquidator: The Official Receiver
The URA Centre (East Wing)
45 Maxwell Road #06-11
Singapore 069118.
Kamala Ponnampalam
Assistant Official Receiver.
This Singapore Government Gazette announcement is dated July 30,
2004.
LEUN WAH: Enters Winding Up Proceedings
---------------------------------------
Notice is hereby given that a petition for the winding up of
Leun Wah Electric Company Pte Ltd. by the High Court was, on the
2nd day of October 2003, presented by Cummins Power Generation
(S) Pte Ltd of 9 Temasek Boulevard, #32-01 Suntec Tower 2,
Singapore 038989, a creditor.
The petition will be heard before the Court sitting at the High
Court in Singapore at 10 o'clock in the forenoon, on Friday, the
13th day of August 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 Petitioners' address is at 9 Temasek Boulevard, #32-01
Suntec Tower 2, Singapore 038989.
The Petitioners' solicitors are Messrs Robert Wang & Woo LLC, of
No. 9 Temasek Boulevard, #32-01 Suntec Tower 2, Singapore
038989.
Messrs ROBERT WANG & WOO LLC
Solicitors for the Petitioners.
Note: Any person who intends to appear at the hearing of the
petition must serve on or send by post to the above named Messrs
Robert Wang & Woo LLC, notice in writing of his intention so to
do. The notice must state the name and address of the person,
or, if a firm, the name and address of the firm, and must be
signed by the person or firm, or his or their 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 12
o'clock noon of the 12th day August 2004 (the day before the day
appointed for the hearing of the petition).
NTS PRIVATE: Posts Notice to Creditors to Submit Claims
-------------------------------------------------------
Notice is hereby given that the creditors of NTS Private
Limited, which is being wound up voluntarily, are required on or
before the 3rd day of September 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.
If required by notice in writing by the said Liquidator, they
are to come personally or by their solicitors 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 30,
2004.
SHIVAKASI ENTERPRISES: Court Issues Winding Up Order
----------------------------------------------------
In the matter of Shivakasi Enterprises Pte Ltd of 70 Anson Road,
#21-08 Apex Tower, Singapore 079905, a Winding Up Order was made
on July 23, 2004.
Name and Address of Liquidator: The Official Receiver
The URA Centre (East Wing)
45 Maxwell Road #05-11/#06-11
Singapore 069118.
Messrs Niru & Co
Solicitors for the Petitioners.
9 Battery Road
#10-08 to 09 Straits Trading Building
Singapore 049910.
Note:
(a) All creditors of the above named company should file their
proof of debt with the liquidator who will be administering all
the affairs of the company.
(b) All debts due to the above named company should be forwarded
to the Liquidator.
This Singapore Government Gazette announcement is dated July 23,
2004.
TAI HENG: Releases Intended Dividend Notice
-------------------------------------------
Tai Heng Hong (S) Pte Ltd. has issued a Notice of Intended
Dividend.
Address of Registered Office: Formerly of 6001 Beach Road
#14-01 Golden Mile Tower Singapore 199589.
Court: Supreme Court, Singapore.
Number of Matter: Companies Winding Up No. 228 of 1999.
Last Day for Receiving Proofs: 13th August 2004.
Name & Address of Liquidator: The Official Receiver
The URA Centre (East Wing)
45 Maxwell Road #06-11
Singapore 069118.
Kamala Ponnampalam
Assistant Official Receiver.
This Singapore Government Gazette announcement is dated July 30,
2004.
* BOND PRICING: For the Week 2 August to 6 August 2004
------------------------------------------------------
Issuer Coupon Maturity Price
------ ------ -------- -----
AUSTRALIA
---------
Advantage Group 10.000% 4/15/06 1
Amcom Telecommunications Ltd 10.000% 10/28/07 2
Amity Oil Ltd. 10.000% 10/31/13 2
APN News & Media Ltd 7.250% 10/31/08 5
Austrim National Radiation Ltd. 9.500% 10/31/04 50
BIL Finance Ltd 8.000% 10/15/07 9
BIL Finance Ltd 8.250% 10/15/04 9
BIL Finance Ltd 8.750% 10/15/04 9
BIL Finance Ltd 8.750% 10/15/05 9
BIL Finance Ltd 9.000% 10/15/04 9
BIL Finance Ltd 9.250% 10/15/06 9
BIL Finance Ltd 10.000% 10/15/04 10
Capital Properties NZ Ltd 8.500% 4/15/05 8
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 6.500% 9/30/09 4
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 8
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 9
Futuris Corporation Ltd 7.000% 12/31/07 2
Gympie Gold Ltd 8.500% 9/30/07 1
Hy-Fi Securities Ltd 7.000% 8/15/08 8
Hy-Fi Securities Ltd 8.750% 8/15/08 13
Hutchison Telecoms Australia 5.500% 7/12/07 1
Infrastructure and Utility 8.500% 9/15/13 8
Minerals Corporation 11.500% 9/30 04 1
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 8
Queensland Treasury Corporation 0.500% 5/19/10 73
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
Sydney Gas Company 12.000% 4/1/06 1
Sky Network Television Ltd 9.300% 10/29/49 8
Structural Systems Ltd 11.000% 6/30/07 1
Tower Finance Ltd 8.650% 10/15/09 9
Tower Finance Ltd 8.750% 10/15/07 9
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 74
China Government Bond 2.900% 5/24/32 63
KOREA
-----
Korea Electric Power Corporation 7.950% 4/1/96 56
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
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
Lebar Daun Bhd 2.000% 1/6/07 4
Lion Diversified Holdings Bhd 2.000% 6/1/09 1
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
Tampines Assets Ltd 5.625% 12/7/06 1
Tampines Assets Ltd 6.000% 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 ***