TCRAP_Public/040805.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

             Thursday, August 5, 2004, Vol. 7, No. 154

                            Headlines

A U S T R A L I A

AMP LIMITED: John Astbury Appointed as Non-executive Director
QANTAS AIRWAYS: To Merge Facilities With Singapore Airlines
QANTAS AIRWAYS: IASC Grants Hong Kong to UK Services
VILLAGE ROADSHOW: Results of "Catwoman" Below Expectations


C H I N A  &  H O N G  K O N G

ENRON LIMITED: Creditors Must Submit Claims by August 16
FU SHING: Creditors Meeting Set August 26
GOLD ENTERPRISE: Creditors Meeting Slated for August 26
GRAND UNITED: Schedules Creditor's Meeting August 26
I-CHINA HOLDINGS: Granted Loan Facility of HK$40,000,000

INTERFORM BUILDING: Creditors Meeting Set August 30
JAMWELL LIMITED: Schedules Creditor's Meeting August 26
JOLLY TARGET: Issues Notice of Creditors Meeting
LUCKY WELL: Issues Debt Claim Notice to Creditors


I N D O N E S I A

BANK PERMATA: Temasek Eyes Stake Sale
GARUDA INDONESIA: Mulls Suspension of Several Routes
MERPATI NUSANTARA: To Serve South Sulawesi, Bali Flights
SEMEN GRESIK: Q2 Profit Shoots on Sales, Rates


J A P A N

ASHIKAGA BANK: Shareholders File Damages Lawsuit
DAIEI INCORPORATED: Creditors Want IRCJ Aid
HITACHI LIMITED: Names New Chief Executive for Europe
MITSUBISHI MOTORS: Announces First Quarter Results
MITSUBISHI MOTORS: Releases Revitalization Plan Updates

MITSUBISHI MOTORS: July U.S. Sales Up 30%


K O R E A

ASIANA AIRLINES: Unionists Fail to Approve Strike
HANARO TELECOM: Expects 2Q04 Net Profit
HYNIX SEMICONDUCTOR: Creditors To Vote On US$2B China Plant Deal
KOOKMIN BANK: S&P Says Accounting Issues Highlight Reform Needs
LG CARD: To Issue US$400M ABS Mid-October


M A L A Y S I A

AOKAM PERDANA: High Court OKs Scheme of Arrangement
BERJAYA SPORTS: Issues Additional 50,600 Ordinary Shares
FABER GROUP: Releases Monthly Status Update
GEAHIN ENGINEERING: Financial Condition Unchanged
INTEGRATED RUBBER: Implements Restructuring Scheme

JASATERA BERHAD: In Talks With Creditors to Settle Debt
KEMAYAN CORPORATION: Releases Restructuring Scheme Update
KILANG PAPAN: Awaits Restructuring Scheme Approval
MYCOM BERHAD: Releases Restructuring Scheme Update
OCEAN CAPITAL: MITI OKs Restructuring Exercise

OLYMPIA INDUSTRIES: Issues Update of Restructuring Scheme
PANTAI HOLDINGS: Issues Shares Buy Back Notice
SATERAS RESOURCES: Releases Practice Note Update
SELANGOR DREDGING: Issues Litigation Update
SIN HENG: Aims to Regularize Financial Condition

SIN KEAN: Private Placement Expires August 13
SRIWANI HOLDINGS: Issues Update of Supplemental Agreement


P H I L I P P I N E S

BAYAN TELECOMMUNICATIONS: Appoints New Finance Chief
GRAND BOULEVARD: PHP1.7Bln Outstanding Debts Granted Reprieve
NATIONAL POWER: Rate Increase Could Affect Government's Target
PHILIPPINE LONG: Issues 1,000 Additional Shares for Listing
UNITED COCONUT: Completes Disposal of PHP190Mln Idle Assets

UNIVERSAL RIGHTFIELD: SEC Revokes Registration of Securities


S I N G A P O R E

CAIN SALES: Court Issues Winding Up Order
FAMCO BOAT: Enters Winding Up Proceedings
FHTK HOLDINGS: Appoints New Group Chief Financial Officer
FHTK HOLDINGS: Posts Change In Shareholder's Interest
HARTFORD HOLDINGS: Issues Profit Warning


T H A I L A N D

DATAMAT: Acquires Core Banking System Project
THAI PETROCHEMICAL: Finance Minister Approves Revised Plan

     -  -  -  -  -  -  -  -

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


AMP LIMITED: John Astbury Appointed as Non-executive Director
-------------------------------------------------------------
AMP Limited Chairman Peter Willcox announced in a press release
on Tuesday the appointment of John Astbury as a non-executive
Director to the AMP Board.

Mr. Astbury has extensive executive experience with a variety of

financial services institutions including Chief General Manager
at National Australia Bank and Finance Director at Lend Lease
Corporation in Australia.

Mr. Astbury is currently a director of Woolworths Ltd and
Insurance Australia Group Ltd. His previous directorships
include Treasury Corporation of Victoria, MIM Holdings, Lend
Lease Corporation and MLC Lifetime.

Mr. Willcox said he was delighted that a Director of Mr
Astbury's calibre was to join the AMP Board.

"John brings significant experience in the financial services
sector to AMP, both in an executive and non-executive director
capacity," Mr. Willcox said.

"AMP's Board has undergone considerable renewal in the past 18
months and this appointment will bring the number of non-
executive Directors on the AMP Board to six."

Mr. Astbury will join the AMP Board effective 1 September 2004.

Resume

John Astbury is a company director with significant experience
in the financial services industry. In particular, he has strong
finance, accounting and risk management skills.

He commenced his career in the early 1970s in the UK, where he
held a number of roles with London Multinational Bank, Chemical
Bank and Charterhouse Bank.

His career in Australia started with National Australia Bank in
Melbourne in 1986 as General Manager, Group Global Treasury. He
held a number of roles with NAB including Chief General Manager
of Institutional Banking and Chief General Manager of Banking
Relationships, North.

In 1994, he moved to Lend Lease Corporation Ltd as Director of
Finance.  He is currently a Director of Woolworths Ltd and
Insurance Australia Group Ltd.

He chairs IAG's Audit Committee and also serves on IAG
Chairman's Committee.  His previous directorships have included
Treasury Corporation of Victoria, MIM Holdings Ltd and Lend
Lease Corporation Ltd, where he was also on the MLC Lifetime
Board.

CONTACT:

AMP Limited (Australian: AMP)
33 Alfred St.
Sydney, 2000, Australia
Phone: +61-2-9257-5000
Fax: +61-2-9257-7886
Website: http://www.ampgroup.com


QANTAS AIRWAYS: To Merge Facilities With Singapore Airlines
-----------------------------------------------------------
Qantas Airways Ltd. (QAN.AU) is in talks with Singapore Airlines
to combine their new training and maintenance facilities,
reports Dow Jones Newswires.

The new training and maintenance facility is for the super-sized
Airbus A380 aircraft.  The alliance between Qantas and Singapore
Airlines would save hundreds of million of dollars for the cost
of hangars, flight simulators and training centers.

With the potential of the joint cost savings, Qantas and
Singapore Airlines believe a full-blown alliance or even a
merger would eventually be an option, the report stated.

CONTACT:

Qantas Airways
Qantas Centre, Level 9,
Building A, 203 Coward Street,
MASCOT, NSW, AUSTRALIA, 2020
Head Office Telephone: (02) 9691 3636
Head Office Fax: (02) 9691 3339
Website: http://www.qantas.com


QANTAS AIRWAYS: IASC Grants Hong Kong to UK Services
----------------------------------------------------
Australia's air services regulator granted Qantas Airways Ltd.
the right to daily air services operations through Hong Kong to
the United Kingdom, Asia Pulse reports.

The ruling comes after the International Air Services Commission
(IASC) took the unusual step in May of inviting public
submissions on Qantas's application because of the historical
difficulty in securing rights on the route, the Asia Pulse
report stated.

Tuesday's ruling states that Qantas can service the Hong Kong to
the UK route in November 1 at least three times a week, and on
November 2 the next year, Qantas will be allowed a four times a
week service.

The capacity must be fully utilized by the beginning of the 2006
northern summer scheduling period.  Qantas can use the capacity
to provide services with its code share partner British
Airways.
The IASC said it had not received any applications for the
capacity sought by Qantas.


VILLAGE ROADSHOW: Results of "Catwoman" Below Expectations
----------------------------------------------------------
In a press release, Village Roadshow Limited announced that the
initial North American results for Catwoman have been below
expectations, however, the Company believes that the film's
performance outside of North America will be stronger and closer
to its expectations.

The international release dates for the film are staggered over
the next 2 to 3 months so it will take some time for actual
international performances to be known. The limited releases in
Thailand, Puerto Rico and Philippines have been encouraging with
the film opening at No. 1 in each of these countries. However
when combined overall, due to the lower than expected
performance, this film result will likely negatively impact the
profit pool derived from film exploitation.

The Company estimates the performance of its film portfolio,
based on historical data, predicated on some movies being
successful and others less successful. The Company holds the
view that the forthcoming potential successful releases in the
next 12 months of OCEANS 12, MISS CONGENIALITY - ARMED &
FABULOUS, CONSTANTINE, CHARLIE AND THE CHOCOLATE FACTORY and
HOUSE OF WAX will be sufficient to cover any negative financial
performance of CATWOMAN.

The Company does not believe, based on its estimates, that there
will be any material effect on profit for the 2005 financial
year.

The Company believes it is prudent to advise the market that the
CATWOMAN projected result is likely to be less than anticipated
and as a consequence the Company will be more reliant on the
performance of the remaining films. If these films do not
perform to our budget expectations, the results for the 2005
financial year could be affected by losses materializing from
exploitation.

The Company confirms that on this basis the Group's budgeted net
profit after tax for the year ending 30 June 2005 remains
unaffected at approximately A$45m, assuming completion of the 10
percent ordinary share buy back. The year ended 30 June 2004
remains unaffected.

CONTACT:

Village Roadshow Limited
206 Bourke Street
Melbourne Vic 3000
Australia
Phone: 613 9667 6666
Fax: 613 9639 1540
Website: http://www.villageroadshow.com.au/


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


ENRON LIMITED: Creditors Must Submit Claims by August 16
--------------------------------------------------------
Notice is hereby given that the creditors of Enron (HK) Limited,
(In Members' Voluntary Liquidation) are required on or before
the close of business on 16 August 2004 to send in their names,
addresses and particulars of their debts or claims, and the name
and address of their solicitors, to its liquidators at 17h
Floor, One Hysan Avenue, Causeway Bay, Hong Kong.

In default thereof, they will be deemed to waive all of such
debts or claims and the Liquidators will be entitled, seven days
after the above date, to distribute any and all surplus assets
or funds available or any part thereof to the members.

Dated this 30th day of April 2004

Heng Kwoo Seng
Tse Tam Kam, Collins
Joint and Several Liquidators


FU SHING: 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 Fu Shing
Realty Development Company Limited (In Creditors' Voluntary
Liquidation) will be held at Conference Room, 5th Floor, Allied
Kajima Building, 138 Gloucester Road, Wanchai, Hong Kong at
12:15 p.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.


GOLD ENTERPRISE: 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 Gold
Enterprise Holdings Limited (In Creditors' Voluntary
Liquidation) will be held at Conference Room, 5th Floor, Allied
Kajima Building, 138 Gloucester Road, Wanchai, Hong Kong at 1:45
p.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.


GRAND UNITED: Schedules Creditor's Meeting August 26
----------------------------------------------------
Notice is hereby given pursuant to Section 241 of the Hong Kong
Companies Ordinance that a meeting of the creditors of Grand
United Holdings Limited (In Creditors' Voluntary Liquidation)
will be held at Conference Room, 5th Floor, Allied Kajima
Building, 138 Gloucester Road, Wanchai, Hong Kong at 2:15 p.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.


I-CHINA HOLDINGS: Granted Loan Facility of HK$40,000,000
--------------------------------------------------------
I-China Holdings Limited has been granted a term loan facility
of HK$40,000,000 (the Facility) pursuant to a facility letter
from an independent bank dated 22 July 2004.

In a disclosure to the Hong Kong Stock Exchange, the Company has
accepted the terms of the facility letter on 3rd August 2004.
The full sum of the Facility is to be repaid by six half-yearly
installments commencing eighteen months after the date of draw
down of the Facility.

For so long as the Facility is made available to the Company,
Wai Kee Holdings Limited (Wai Kee) and Mr. Zen Wei Peu, Derek
are required to undertake to maintain their joint shareholding
in the Company at not less than 50% of the total issued share
capital of the Company. As at 26 July 2004, Wai Kee and Mr. Zen
are interested in approximately 67.41% and 6.36% of the ordinary
issued share capital of the Company respectively. Wai Kee is the
controlling shareholder of the Company. Mr. Zen is a director of
the Company. Accordingly, this announcement is made pursuant to
rule 13.18 of the Listing Rules.

As at the date of this announcement, the board of directors of
the Company (the Board) is comprised of two executive directors,
Messrs. Zen Wei Peu, Derek and Yu Sai Yen, and two independent
non-executive directors, Dr. Chow Ming Kuen, Joseph and Mr. Ng
Chi Ming, James.

By Order of the Board
Fong Shiu Leung, Keter
Company Secretary
Hong Kong, 3 August 2004

CONTACT:

I-China Holdings Limited
73 Lei Muk Road
Kwai Chung, New Territories
HONG KONG
Tel: +852 2521 1238
Tel: +852 2523 9176


INTERFORM BUILDING: Creditors Meeting Set August 30
---------------------------------------------------
Notice is hereby given pursuant to Section 247 and 248 of the
Companies Ordinance (Chapter 32), a meeting of the members of
Interform Building Material Supplies Limited (In Creditors'
Voluntary Liquidation) will be held at 17th Floor, Hutchison
House, 10 Harcourt Road, Central, Hong Kong on 30 August 2004 at
11 o'clock in the morning for the purpose of having the accounts
laid before them, showing the manner in which the winding up has
been conducted and the property of the Company has been disposed
of, and of hearing any explanation that may be given by the
Liquidators, and also of determining by resolution of the
creditors the manner in which the books, accounts and documents
of the Company, and of the Liquidators thereof, shall be
disposed of.

A member or creditor entitled to attend vote at the above
meeting may appoint proxy to attend and vote instead of him. A
proxy need not be a member or creditor of the company. Forms of
proxies for both meetings must be lodged at 17th Floor,
Hutchison House, 10 Harcourt Road, Central, Hong Kong not later
than 4 p.m. on the day before the meetings.

Stephen Liu Yiu Keung
Joint and Several Liquidator


JAMWELL LIMITED: Schedules Creditor's Meeting August 26
-------------------------------------------------------
Notice is hereby given pursuant to Section 241 of the Hong Kong
Companies Ordinance that a meeting of the creditors of Jamwell
Limited (In Creditors' Voluntary Liquidation) will be held at
Conference Room, 5th Floor, Allied Kajima Building, 138
Gloucester Road, Wanchai, Hong Kong at 3:15 p.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.


JOLLY TARGET: Issues Notice of Creditors Meeting
------------------------------------------------
Notice is hereby given pursuant to Section 241 of the Hong Kong
Companies Ordinance that a meeting of the creditors of Jolly
Target Limited (In Creditors' Voluntary Liquidation) will be
held at Conference Room, 5th Floor, Allied Kajima Building, 138
Gloucester Road, Wanchai, Hong Kong at 3:45 p.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.


LUCKY WELL: Issues Debt Claim Notice to Creditors
-------------------------------------------------
Notice is hereby given that the creditors of Lucky Well
Consultants Limited (In Creditors' Voluntary Liquidation), which
is in Members' Voluntary Liquidation, are required (if they have
not already done so), on or before the close of business on 30
August 2004, to send in their names, addresses and particulars
of their debts or claims, and the name and address of their
solicitors, if any, to the undersigned at unit B, 13/F., Mai Wah
Industrial Building, 1-7 Wah Shing Street, Kwai Chung, New
Territories, Hong Kong. In default thereof, they will be
excluded from the benefit of any distribution made before such
debts are proved.

Chong Chi Wah
Liquidator


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


BANK PERMATA: Temasek Eyes Stake Sale
-------------------------------------
Singapore-based Temasek Holdings has shown interest in joining
the tender for a 51 percent stake in Bank Permata (JSX:BNLI),
Indoexchange reveals.

The investment company, which manages US$40 billions of funds,
was present during the road show in Singapore done by Asset
Management Company PPA. Temasek inquired about the bank and the
current state of Indonesia's banking industry.

In Indonesia, Temasek holds 62 percent of Bank Danamon through
the Asia Financial Holdings consortium, and owns 56.9 percent of
International Indonesia Bank through the Sorak Financial Holding
consortium. Its unit, Singapore Technologies Group, runs 41.94
percent of PT Indonesian Satellite Tbk (JSX:ISAT) through ST
Telemedia.

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 Suspension of Several Routes
----------------------------------------------------
In line with its medium-term programs, national flag carrier
Garuda Indonesia is planning to lessen or close down a series of
services come winter season, reports Channel News Asia.

Due to prevailing market conditions in certain sectors, Garuda
Indonesia opts to cut flight frequencies or suspend services to
specific destinations.

Flights to Amsterdam will be reduced from four times weekly to
three beginning September and to two times a week starting early
October ahead of a temporary halt in late October.

Likewise, the route to Denpasar-Taipei-Seoul will be temporarily
closed in early September this year at the same time flights to
Shanghai and Guangzhou are trimmed from five times a week to
three.

CONTACT:

PT Garuda Indonesia
Garuda Indonesia Bldg., Jalan Merdeka Selatan No. 13
Jakarta, 10110, Indonesia
Phone: +62-21-231-0082
Fax: +62-21-231-1679
Web site: www.garuda-indonesia.com


MERPATI NUSANTARA: To Serve South Sulawesi, Bali Flights
--------------------------------------------------------
Starting August 7, Merpati Nusantara Airlines (MNA) will begin
direct flights between South Sulawesi capital Makassar and Bali
capital Densapar.

MNA-Makassar general manager Moch Zainuddin told Asia Pulse that
the direct flight, which will be served by an 80-seater F-28, is
set to kick off on August 7 upon approval from MNA's Jakarta
main headquarters.

The flight to Densapar, on the other hand, will be served
through the Juanda Airport in Surabaya.

CONTACT:

Merpati Nusantara Airlines
Jl. Angkasa Blok B-15 Kav. 2-3
Jakarta 10720 - Indonesia
Tel: (021) 6548888
Fax: (021) 6540620
E-mail: marketing@merpati.co.id


SEMEN GRESIK: Q2 Profit Shoots on Sales, Rates
----------------------------------------------
Robust sales and low debt-interest rates propelled PT Semen
Gresik's net profit in the second quarter, Reuters reports.

Net profit of the country's largest cement producer skyrocketed
69 percent to IDR99.17 billion (USD10.9 million) in the second
quarter ended June 2004. For the second-quarter, Gresik's
revenue climbed 13.8 percent reaching IDR1.5 trillion as reduced
local interest rates at 7.29 percent trimmed the firm's interest
expenses by 33.4 percent to IDR74.53 billion.

In addition, Gresik grabbed a 45 percent market share in the
first six months, up from the previous 42.6 percent.

Aided by new construction projects and election spending,
analysts project domestic cement sales to increase eight percent
this year. However, sales only grew one percent in 2003 to 27.5
million tons resulting from fuel and utility price hikes.
Volumes increased almost nine percent for the first six months
this year.

CONTACT:

Pt Semen Gresik (Persero) Tbk.
Gedung Utama Semen Gresik
Jl. Veteran
Gresik, Indonesia 61122
Phone: (62-31) 398 1732, 398 1745
Fax: (62-31) 398 3209, 39
E-mail: ptsg@sg.sggrp.com
Web site: www.semengresik.com


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


ASHIKAGA BANK: Shareholders File Damages Lawsuit
------------------------------------------------
A group of Ashikaga Bank shareholders filed a lawsuit against
the bank and its former management, says Japan Times.

The plaintiffs, whose shares were devalued after the bank's
collapse last year, claimed that Ashikaga misinformed them about
its financial state and participation in illegal share-
solicitations.

The group, composed of five corporate and 29 individual
shareholders, are seeking JPY340 million in damages from the
bank, its 21 former executives and the accounting firm
responsible for auditing the bank.

CONTACT:

Ashikaga Bank Limited (The)
1-25 Sakura 4-Chome
Utsunomiya 320-8610, Tochigi 320-8610
Japan
Phone: +81 28 622 0111
       +81 28 625 5546


DAIEI INCORPORATED: Creditors Want IRCJ Aid
-------------------------------------------
Daiei Incorporated's three main creditor banks are planning to
request the troubled retail giant to seek help from Industrial
Revitalization Corporation of Japan (IRCJ) for its revival
program, Channel News Asia reports.

The three creditors, UFJ Bank, Sumitomo Mitsui Banking
Corporation and Mizuho Corporate Bank are optimistic that a
JPY100 billion financial aid from state-backed IRCJ could help
speed up the firm's rehabilitation.

Earlier, Daiei has presented its newly drafted restructuring
scheme to the three banks involving major debt reductions,
assets sale and closure of loss-making businesses.

CONTACT:

The Daiei Incorporated
4-1-1, Minatojima Nakamachi,
Chuo-ku, Kobe, 650-0046
Japan
Phone: +81-78-302-5001
Fax: +81-78-302-5572
Website: www.daiei.co.jp


HITACHI LIMITED: Names New Chief Executive for Europe
-----------------------------------------------------
According to Japan Today, Hitachi Limited appointed former
British envoy to Japan Stephen Gomersall as its Chief Executive
for Europe, Hitachi's senior representative in the region.

Mr. Gomersall will take up the position on October 4, 2004.

CONTACT:

Hitachi Limited
6 Kanda-Suragadal 4-Chome
Chiyoda-Ku 101-8010, Tokyo 101-8010
Japan
Phone: +81 3 3258 1111
       +81 3 5295 5049


MITSUBISHI MOTORS: Announces First Quarter Results
--------------------------------------------------
Mitsubishi Motors Corporation (MMC) on August 4 announced its
financial results for the first quarter of the fiscal year
ending March 31, 2005,

Fiscal 2004 first quarter results

MMC's consolidated net sales for the first quarter declined by
JPY49.4 billion to JPY557.6 billion (FY03/Q1: 607 billion
yen). By region, net sales in Europe grew JPY19.3 billion
compared to the same period last year on the back of new
products such as the European Colt as well as brisk sales in
Russia, other Eastern European countries, and the United
Kingdom.

Net sales in Japan, however, declined JPY51.8 billion on year as
the company faced sluggish sales due to recent quality issues in
its home market. North American net sales were also down on
year, declining by JPY12.6 billion as the company significantly
reduced fleet sales and eliminated risky consumer financing
programs. In the Asia/Rest of the World region, although MMC saw
an increase in retail unit sales, a large proportion was for
parts used in overseas production, which carry a lower sales
value per unit, and net sales declined JPY4.3 billion on year.

Total unit sales in Japan for the quarter decreased by 30,000
units to 49,000 as both registrations and minicars saw declines
compared to the same period last year. North American unit sales
slipped by 23,000 units on year to 53,000. European unit sales,
meanwhile, increased by 5,000 units to 58,000, while robust
sales in China, Thailand, South America, the Middle East and
other regions more than offset a decline in sales in Australia
to boost unit sales in Asia/Rest of the World by 4,000 units to
178,000.

Operating results for the quarter improved by JPY10.6 billion
compared to the same period last year for an operating loss of
JPY31.7 billion. This comes as the JPY24.1 billion loss booked
last year for loan defaults in North America was eliminated.
Ordinary income came to minus JPY39 billion, an improvement of
JPY13.1 billion on year.

The company's net loss, however, expanded by JPY3.6 billion to
JPY54.7 billion due to extraordinary losses booked for
restructuring costs in Australian operations and the
cancellation of development of a new model.

MMC's financial standing improved greatly during the first
quarter thanks to the issuance of preferred shares. As of June
30, the company's shareholders' equity was JPY263.4 billion
(compared to 30 billion yen on March 31) and the equity ratio
stood at 14 percent, up from 1 percent on March 31. MMC also
slashed interest-bearing debt by JPY328.9 billion during the
first quarter. Interest-bearing debt now stands at JPY733.7
billion (automotive: 564.4 billion; financial services: 169.3
billion), down from JPY1.06 trillion (automotive: 869.3 billion;
financial services: 193.3 billion) at the end of March.

To shore up its financial base, MMC embarked on a capital
enhancement program which saw the company issue JPY295 billion
worth of No. 1 and No. 2 Class A preferred shares and No. 1
Class G preferred shares in June. This was followed in July by
the issuance of common stock, No. 1 - No. 3 Class B preferred
shares and No. 3 Class A preferred shares for an additional 201
billion yen.

In total, the company raised JPY496 billion worth of funds, or
JPY46 billion more than the originally planned target of JPY450
billion. MMC plans to put these funds to use to pare debts
further, push through restructuring measures to ensure a sound
profit structure, and invest in developing new cars to pave the
way for future growth.

CONTACT:

Mitsubishi Motors Corporation
2-16-4 Konan, Minato-ku
Tokyo, 108-8410, Japan
Phone: +81-3-6719-2111
Fax: +81-3-6719-0014
http://www.mitsubishi-motors.co.jp


MITSUBISHI MOTORS: Releases Revitalization Plan Updates
-------------------------------------------------------
On its website, Mitsubishi Motors Corporation provided an update
on the progress of its business revitalization plan announced on
May 21.

Progress of business revitalization plan

Fully recognizing that this is its last chance for survival as
an automaker, MMC is now working to a three-year plan announced
on May 21 to support the self-revitalization of the company.
Following the announcement, recall problems at MMC and
Mitsubishi Fuso surfaced, causing downward risks for MMC's
domestic sales. To combat this, the company outlined a number of
additional steps based on three main areas: All-out cost
cutting, restoring customer trust, and across-the-board
compliance. This put MMC in a position to quickly respond to
anticipated risks without changing the framework of the
revitalization plan.

The original and additional measures are being implemented to
schedule and in some cases the moves are being pushed through
ahead of schedule.

Cost cutting

In the area of cost cutting, MMC is making steady progress
towards its target of slashing costs by JPY89.4 billion - 14
billion in fixed costs, 41 billion in variable costs, and 34.4
in additional measures - in fiscal 2004. In addition to the
reductions achieved in the first quarter, the second quarter
will see the effects of initiatives launched in the first
quarter such as a cut to executive compensation packages, a
revision of remuneration for managers and rank-and-file workers,
and the speeding up of restructuring efforts in Australia.

In the third and fourth quarters, the effects of further cost-
cutting measures such as the elimination of yearend bonuses in
Japan and the move to one shift at the US plant in Illinois will
also come into play and the company expects to achieve its
fiscal 2004 target.

US production capacity adjustment

MMC remains fully committed to the North American market. The
company is working to put its operations there back on the road
to sustained profitability by reducing its dependence on fleet
sales and shifting its sales approach from one aimed at a short-
term expansion of sales based on incentives to a more dealer-
centric, long-term one with a renewed focus on the
competitiveness of its vehicles.

As the company works to rebuild natural retail demand for its
vehicles in North America, production capacity has to be
adjusted accordingly and the Illinois plant will move to one
shift from October this year.

Sales in Japan

To restore customer trust and rebuild the company's brand image,
MMC will embark on a program to build up its domestic sales base
with a solid focus on customers. In addition to extending till
the end of the year its free vehicle inspections, three-year
full vehicle support program, and dealer support initiatives,
MMC will launch new and special edition models in autumn to keep
the downward risks to domestic sales at a minimum.

Speeding up revitalization plan initiatives

MMC is seeking to speed up its production capacity adjustments
in a number of areas. In addition to moving to one shift at its
US plant in Illinois from October, MMC plans to bring forward
the completion of vehicle production at its Okazaki plant to the
end of 2005 from its original plan which called for the plant to
be closed in fiscal 2006.

The company is also looking to offer early retirement packages
to some workers at the plant and introduce others to re-
employment opportunities with local businesses such as the
Toyota group.

The company's Tonsley Park vehicle assembly plant in Australia
is offering voluntary redundancy packages to a number of
employees.

In an effort to reduce the cost of materials, MMC has set up a
project team charged with revamping operations related to parts
procurement and logistics.

Support from Japanese government institutions

The Ministry of Economy, Trade and Industry approved MMC's
application under the Industrial Revitalization Law, which
allows MMC to pay lower taxes in relation to its capital
enhancement. This also positions the company to be eligible for
low-interest loans from the Development Bank of Japan. Safety-
net loans and guarantees for subcontractors and dealers have
also expanded the options for MMC affiliated companies to secure
stable funds at low interest rates.

The Ministry of Health, Labour and Welfare has offered to
support employment maintenance and re-employment for workers at
MMC affiliated companies.

Progress of Corporate Restructuring Committee

Since its establishment in June, the Corporate Restructuring
Committee, which reports directly to MMC Chairman and Chief
Executive Officer Yoichiro Okazaki, has worked on the most
pressing issues facing the company: a cost cutting project to
achieve further reductions and an analysis of current business
circumstances to provide support for the company's domestic
dealer network.

In addition, the committee conducted interviews over two months
with employees, business partners and dealers to pinpoint ten
issues that need to be addressed to ensure MMC can rebuild its
operations.

The company has now set up cross-functional teams to map out
detailed plans to address the issues from the viewpoint of what
is best for the whole company. Ten team leaders (mainly managers
with an average age of 38.7 years) were chosen to oversee one
issue each based on their leadership skills and ability to think
logically.

After each team presents its plan to the committee chairman, the
Corporate Restructuring Committee will formulate its final plan
by mid December and announce the plan both internally and
externally. Once the committee has authorized the plan, each
department responsible for implementation will work under MMC
Chairman Okazaki to carry out the plan and the Corporate
Restructuring Committee will monitor the progress of their work.

Cross-functional team issues

1) Reforming corporate governance
2) Manufacturing market-oriented products
3) Realizing synergies between product appeal and sales
strengths
4) Creating lifetime customers
5) Defining process and commitments for volume projections
6) Improving quality management from consumers' perspective
7) Eliminating unprofitable models, parts & accessories, and
investments
8) Establishing an optimum manufacturing system to meet
factory floor's call for change
9) Optimizing entire supply chain
10) Encouraging can-do corporate culture

Detailed steps to restore trust

As part of MMC's drive for self-revitalization, the company
recognizes that legal compliance and corporate culture reforms
must be carried out across the board. The company's new
management philosophy seeks to place top priority on legal
compliance, safety and customers. The Business Ethics Committee,
Corporate Social Responsibility Promotion Office, Corporate
Restructuring Committee and Quality Assurance Office - all of
which form the core of the company's new structure to implement
reforms - have taken concrete steps since June to push through
reform initiatives.

Expanded probe into past repair directives

To put its six million domestic users at ease, ensure road
traffic safety, and rid itself of past problems, MMC embarked on
an investigation into all past repair directives dating back to
December 1993 and implemented the appropriate post-market
measures.

On July 29, the company finalized submissions to the Japanese
Ministry of Land, Infrastructure and Transport for all 35 cases
that required recalls (33) and improvement measures (2) out of
the 92 cases of past repair directives that came to light as a
result of the investigations.

The company has now expanded its investigations to cover all
possible documents that may contain information, including some
134,000 product information reports held by MMC and its dealers,
and around 506,000 documents such as technical letters, business
correspondence and minutes from meetings on technical issues.

A detailed analysis is being undertaken to ensure there were no
mistakes in the decision making process for implementing post-
market measures. The results will be reported to the Business
Ethics Committee ahead of an official public announcement on
August 26.

Initiatives aimed at ensuring legal compliance

MMC is making steady progress in terms of placing top priority
on legal compliance in line with the schedule announced on June
16. Going forward, the Corporate Social Responsibility Promotion
Office will continue to play a central role in this process and
will ensure total legal compliance by putting in place concrete
steps that were not possible with the company's previous
organizational structure and human resources. MMC will also
provide updates of its progress in this area.

Work on compliance issues started with all executives signing a
legal compliance pledge in late June.

To date, MMC has also held business ethics seminars for company
directors and each level of employees at its Okazaki plant. In
the coming months, a survey aimed at all employees will be
carried out to measure how far business ethic issues are
penetrating through the company and each employee will be
required to sign a pledge of legal compliance.

Schedule

June 29: Chairman and president declare company will place
utmost priority on legal compliance; all executives sign pledge
of legal compliance.

July: Business ethics organization and rules and regulations
revamped.

August - September: Business ethics seminar for all executives
and employees.

August - September: Each department to hold meetings on business
ethics problems.

September: Survey for all employees on progress of business
ethics throughout the company.

End of September: All employees to submit pledge of legal
compliance.

End of October: Business Ethics Committee to evaluate how far
compliance issues have taken root.

End of November: Draw up plan on business ethics for 2005

Business Ethics Committee

The Business Ethics Committee, which acts as an advisory body to
MMC's board of directors, was set up on June 29 to beef up
monitoring of quality and governance issues from an external
perspective.

In the three meetings to date (July 22, 27 and 28), MMC has
received some stern advice and guidance from the committee
members and intends to work on improvements to restore trust in
the company. At the third meeting, held in Okazaki, the
committee members observed the plant's development, production
and quality control operations. The committee commented that
business ethics start on the factory floor and that MMC's
organization on the factory floor has not lost anything.


MITSUBISHI MOTORS: July U.S. Sales Up 30%
-----------------------------------------
In a press release dated August 3, 2004, Mitsubishi Motors North
America, Inc. (MMNA) reported July 2004 U.S. sales of 11,192
units. Mitsubishi Motors has sold 112,995 units year to date in
the United States.

"Retail sales in July improved more than 30 percent over June
2004, which shows that Mitsubishi's 'Best Backed Cars' program
is gaining momentum with customers and building showroom
traffic," said Michael M. Tocci, MMNA senior vice president,
sales, distribution and fleet. "The decline in total volume
compared to last year reflects our strategic decision to
eliminate risky financing deals and reduce reliance on fleet
sales. We know it will take time for improved retail sales to
replace reported fleet sales, but we remain committed to
patiently rebuilding our retail business and brand, one car at a
time."

Mitsubishi Motors North America, Inc., (MMNA) is responsible for
all manufacturing, finance, sales, marketing, research and
development operations of the Mitsubishi Motors Corporation in
the United States, Canada, Mexico and Puerto Rico. Mitsubishi
Motors sells coupes, convertibles, sedans and sport utility
vehicles through a network of nearly 750 dealers throughout
North America. For more information, contact the Mitsubishi
Motors News Bureau at (888) 560-6672 or visit
www.media.mitsubishicars.com.

     Following is the sales breakdown for July 2004:


                         2004          2003           2004
                       UL   CYTD     JUL  CYTD      JUL  CYTD
ECLIPSE COUPE         970  8,311   2,821  17,393   -65.6% -52.2%

ECLIPSE SPYDER        446  6,174   1,001   7,501   -55.4% -17.7%

LANCER              2,236  26,899  3,520   29,667  -36.5% -9.3%

LANCER EVOLUTION      360  2,729     572    2,620  -37.1%  4.2%

LANCER SPORTBACK      193    990     --       --     0.0%  0.0%

MIRAGE COUPE          --      --     --       171    --  -100.0%

MIRAGE SEDAN         --       1       1         1    0.0%  0.0%

GALANT             2,993  29,763   6,687   46,277  -55.2% -35.7%

DIAMANTE             99   2,670     485     6,097  -79.6% -56.2%

TOTAL CAR          7,297  77,537  15,087  109,727  -51.6% -29.3%

OUTLANDER          1,455  12,124   2,390   22,463  -39.1% -46.0%

MONTERO SPORT       604    4,983   1,653   13,590  -63.5% -63.3%

ENDEAVOR           1,558  14,893   3,022   10,897  -48.4%  36.7%

MONTERO             278    3,458     729    5,061  -61.9% -31.7%

TOTAL SUV          3,895  35,458   7,794   52,011  -50.0% -31.8%

TOTAL             11,192 112,995  22,881  161,738  -51.1% -30.1%

US Assembled
     Cars (1):     4,409  44,248  10,509   71,171  -58.0% -37.8%

Imported Cars (2): 2,888  33,289   4,578   38,556  -36.9% -13.7%

US Assem.
     Truck/SUV (3):1,558  14,893   3,022   10,897  -48.4%  36.7%

Imported Truck/
     SUVs (4):     2,337  20,565   4,772   41,114  -51.0% -50.0%

US Assembled
     Vehicles:    5,967   59,141  13,531   82,068  -55.9% -27.9%

Imported Vehicles:5,225   53,854   9,350   79,670  -44.1% -32.4%

    ** Selling Days       MTD      YTD
    2004                   27      180
    2003                   26      178


     (1)  Galant, Eclipse, Eclipse Spyder
     (2)  Lancer, Lancer Sportback, Lancer Evolution,
Diamante,
Mirage Coupe,
          Mirage Sedan
     (3)  Endeavor
     (4)  Montero, Montero Sport, Outlander

CONTACT:

Mitsubishi Motors North America, Inc.
6400 Katella Ave.
Cypress, CA 90630-0064 (Map)
Phone: 714-372-6000
Fax: 714-373-1020
Website: www.mitsucars.com


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


ASIANA AIRLINES: Unionists Fail to Approve Strike
-------------------------------------------------
The union of Asiana Airlines announced Tuesday that its members
had rejected a call for a strike, Yonhap News reports. Less than
a majority of 2,370 unionized workers, 49.3 percent, voted in
favor of the strike, making it impossible for the union to go
ahead with the walkout.

CONTACT:

Asiana Airlines Incorporated
47 Osoe-Dong Kangseo-Gu
157-270
Korea (South)
Tel: +82 2 669 3114
Tel: +82 2 669 3170


HANARO TELECOM: Expects 2Q04 Net Profit
---------------------------------------
Hanaro Telecom Inc. expects a net profit for the second quarter
ended June 30 when it releases earnings on August 11, Dow Jones
Newswires reports. Hanaro didn't provide specific figures.

The Company attributed the estimate to stable revenue
contributions from its broadband business, cost-cutting
measures, and its growing fixed-line business.

Hanaro said in February it expects to swing to a net profit of
KRW500 million on revenue of KRW1.5 trillion this year. Last
year, the Company posted a net loss of KRW165.3 billion on
revenue of KRW1.38 trillion.

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


HYNIX SEMICONDUCTOR: Creditors To Vote On US$2B China Plant Deal
----------------------------------------------------------------
Creditors of Hynix Semiconductor Inc. are planning to allow the
chipmaker to build a chip plant in China valued at up to US$2
billion, creditor officials said Wednesday.

According to officials at Hynix's creditor banks contacted
Wednesday, the institutions were asked to submit their approval
of the plan on August 5. Hynix aims to sign a final deal around
August 12.

Hynix and ST Microelectronics N.V. will each invest around
US$500 million in the factory. The Chinese government will
finance the remaining US$1 billion.

CONTACT:

Hynix Semiconductor Incorporated
San 136-1 Ami-ri Bubal-eup Ichon-si
Gyeonggi, KYONGGI-DO 467-866
Korea (South)
Tel: +82 31 630 4114
Tel: +82 31 630 4101


KOOKMIN BANK: S&P Says Accounting Issues Highlight Reform Needs
---------------------------------------------------------------
Standard & Poor's Ratings Services said Wednesday that the
reported problems in Kookmin Bank's (BBB+/Negative/A-2)
accounting practices raised by an ongoing inspection by Korea's
banking regulator highlight the lack of comprehensiveness in
accounting rules and bank regulation in Korea, and the need to
expedite structural reforms.

Korea's Financial Supervisory Service (FSS) has reportedly
identified three major issues in Kookmin's accounting practices.
The FSS is expected to conclude its inspection in the next
couple of weeks, and the possibility of regulatory sanctions or
impact on investor confidence can't be excluded.

The potential risks arising from the regulator's inspection
appear unlikely to be significant enough to result in a
downgrade in the bank's credit ratings, although the final
outcome of the inspection isn't yet known. It is known that
Kookmin has already made part of the disputed provisions during
the second quarter of 2004.

The main issues raised by the FSS inspection are reported to be:

(i) Contention over the adequacy of tax calculations in 2003.
When Kookmin merged with KCC at the end of September 2003,
the bank reversed the balance of loan loss reserves at KCC
amounting to about Korean won (W) 1.2 trillion, and
instead made a similar amount of provisioning in Kookmin's
accounts. Because of Kookmin's less-than-whole ownership
of KCC (74.26%), this accounting treatment raised the
bank's loss and reduced its corresponding tax burden.

(ii) The provisioning for its guarantees on asset-backed-
securities issued by KCC or Kookmin itself might have been
generous.

(iii) The loss provisioning for its loan assets, such as
restructured card loans or loans to be sold through
auctions, might have been generous.

However, the possible accounting issues brought to light by the
FSS inspections appear to originate partly from differing
translations of, or lack of detail in, banking regulations and
accounting rules. Moreover, both Kookmin and Woori Finance
Holdings showed relatively large differences between their
financial figures according to U.S. GAAP and those according to
Korean GAAP. The main difference in financial results for fiscal
2003 stemmed from the difference in provisioning methodology for
their credit portfolios as well as the consolidation of special
purpose companies.

Contact: Young Il Choi, Tokyo (81) 3-3593-8413


LG CARD: To Issue US$400M ABS Mid-October
-----------------------------------------
LG Card Co. signed a deal with Merrill Lynch Securities to issue
US$400 million worth of asset-backed securities (ABS) to
overseas investors, Asia Pulse reports. The securities, which
will be issued to international investors in mid-October, will
be backed by LG Card's receivables.

The credit card issuer might need another KRW1.5 trillion
(US$1.3 billion) of capital injected from creditors to avoid a
possible delisting in 2005.

CONTACT:

LG Card Investor Relations
10th Floor, YTN Tower
6-1 Namdaemun-ro 5-ga,
Joong-Gu, Seoul, Korea
100-800
Phone: 822-6009-7206
Fax: 822-6009-7983


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


AOKAM PERDANA: High Court OKs Scheme of Arrangement
---------------------------------------------------
Aokam Perdana Berhad refer to its Practice Note 1/2001 (PN1)
announcement dated 1 July 2004 and announced that the Company,
Aokam Industries Sdn Bhd and Pembangunan Papan Lapis (Sabah) Sdn
Bhd (the Scheme Companies) had on 22 July 2004 obtained the
draft order from the High Court of Malaya (High Court) approving
the Schemes of Arrangement pursuant to Section 176 of the
Companies Act, 1965. The Company is waiting to extract the Order
from the High Court for submission of the same to the Companies
Commission of Malaysia.

Apart from the above, the issue of continual default remains
unchanged.

This Bursa Malaysia announcement is dated 3 August 2004.

CONTACT:

Aokam Perdana Berhad
189 Jalan Tun Razak
Kuala Lumpur, 50400
MALAYSIA
Telephone: +60 3 2166 3466
Telephone: +60 3 2166 3455


BERJAYA SPORTS: Issues Additional 50,600 Ordinary Shares
--------------------------------------------------------
The Bursa Malaysia Securities Berhad disclosed that Berjaya
Sports Toto Berhad's additional 50,600 new ordinary shares of
RM1.00 each arising from the Conversion of RM50,600 nominal
amount of 8 percent irredeemable convertible unsecured loan
stocks 2002/2012 into 50,600 new ordinary shares will be granted
listing and quotation with effect from 9 a.m., Wednesday, 4
August 2004.

CONTACT:

Berjaya Sports Toto Berhad
179 Jalan Bukit Bintang
Kuala Lumpur, Kuala Lumpur 55100
Malaysia
Tel: +60 3 2935 8888
Tel: +60 3 2935 8043


FABER GROUP: Releases Monthly Status Update
-------------------------------------------
In compliance with Practice Note No. 4/2001 (PN4) paragraph 4.1
(b) of the Listing Requirements of the Bursa Malaysia Securities
Berhad which requires an affected listed issuer to announce the
status of its plan to regularize its financial condition on a
monthly basis until further notice from Bursa Securities, Faber
Group Berhad (FGB) announced that since the last announcement on
1 July 2004, the following have taken place:

On 22 July 2004, FGB had announced that a Meeting of the Holders
of All Series of Zero Coupon Redeemable Convertible Secured
Bonds due 2005 will be held on 13 August 2004 at 10.00 a.m. or
any adjournment thereof. The purposes of the Meeting is to seek
Bondholders' approval for a proposed amendment to the definition
of Implementation Date as defined in the Restructuring Deed
dated 22 December 2003.

Pursuant to the Securities Commission's (SC) approval on the
Proposed Restructuring Scheme subject to the fulfillment of the
conditions imposed by the SC which include, inter-alia, the
appointment of an independent firm of auditors to conduct an
investigative audit to ascertain the reasons for the losses
incurred by the Faber Group, FGB had on 26 July 2004 announced
that Messrs Monteiro & Heng, Chartered Accountants has been
appointed as the Independent Auditors.

This announcement is dated 2 August 2004.

CONTACT:

Faber Group Berhad
Jalan Desa Bahagia
Taman Desa Off Jalan Klang Lama, Kuala Lumpur 58100
Malaysia
Tel: +60 3 7628 2888
Tel: +60 3 7628 2828


GEAHIN ENGINEERING: Financial Condition Unchanged
-------------------------------------------------
In a disclosure to the Bursa Malaysia Securities Berhad, Geahin
Engineering Berhad said it is still in the process of
implementing the respective proposals under the Proposed
Restructuring Scheme there is no change in the status of the
Company's financial condition.

This announcement is dated 2 August 2004.

CONTACT:

Geahin Engineering Berhad
8999 Kawasan Perindustrian Batu Berendam
Batu Berendam, Melaka 75350
Malaysia
Tel: +60 6 281 9998
Tel: +60 6 281 3988


INTEGRATED RUBBER: Implements Restructuring Scheme
--------------------------------------------------
Pursuant to Paragraph 4.1(b) of Practice Note 4/2001 issued by
Bursa Malaysia Securities Berhad and further to the
announcements dated 1 July, 5 July, 20 July and 22 July 2004,
the Board of Integrated Rubber Corporation Berhad (IRCB)
announced that the Restructuring Scheme to regularize its
financial condition is currently being implemented.

Chip Lam Seng Berhad (CLS) is undertaking the non-renounceable
Restricted Offer for Sale (ROFS) and Offer for Sale ("OFS")
pursuant to the Restructuring Scheme. In this regard, the
prospectus for the ROFS and OFS was issued on 26 July 2004.

Any further developments will be announced in due course.

This announcement is dated 2 August 2004.


JASATERA BERHAD: In Talks With Creditors to Settle Debt
-------------------------------------------------------
Reference is made to the announcement dated 29 June 2004 and
paragraph 4.1(b) of the Practice Note 4/2001 (PN 4/2001) wherein
Jasatera Berhad is required to announce the status of its
financial position on a monthly basis until further notice from
the Bursa Malaysia Securities Berhad.

The Company is still in the midst of preparing the necessary
documents to obtain the approvals from the shareholders of
Jasatera at a forthcoming Extraordinary General Meeting to be
convened. In addition, the Company is also in the midst of
negotiating with the bank lenders of Jasatera to further extend
the completion of the debt settlement agreement. The outcome of
the negotiation is still pending and an announcement will be
made upon finalization of the negotiation.

CONTACT:

Jasatera Berhad
31, Jalan SS 15/4E
47500 Subang Jaya, Selangor
Malaysia
E-mail: info@jtera.po.my
Tel: 603-7332888/7742
Fax: 603-7332607


KEMAYAN CORPORATION: Releases Restructuring Scheme Update
---------------------------------------------------------
Further to the announcement dated 1 July 2004, Public Merchant
Bank Berhad, on behalf of the Board of Directors of Kemayan
Corporation Berhad (KCB), announced that KCB is presently still
in the midst of preparing the necessary documents to obtain
approvals of the Scheme Creditors and shareholders of KCB at the
relevant meetings to be convened.

The Securities Commission (SC), via its letter dated 5 July 2004
and 12 July 2004, granted approval for an extension of time of
an additional six (6) months until 16 January 2004 for
KCB/Jawira Holdings Berhad (Jawira) to implement the Proposed
Restructuring Scheme of KCB and to obtain the individual land
titles issued by the relevant authorities and registered in the
name of Kedah Resort City Sdn Bhd pursuant to one of the
conditions imposed by SC via its approval letter dated 16 July
2003 in respect of the properties located at Lot 2, 1582 and
2259, Mukim Merbok, Lot 8, 12 - 13, 16, 776 - 778 and 23 other
lots including state government land, Mukim Bujang and Lot 761,
1358 and 1780 including state government land, Mukim Semeling,
Daerah Kuala Muda, Kedah respectively.

Furthermore, on 20 July 2004, PMBB had, on behalf of KCB,
announced that the Datuk Bandar Kuala Lumpur (DBKL) had, vide
its letter dated 6 July 2004, rejected the application by Amber
Resources Sdn Bhd (Amber) to seek approval from DBKL for the
proposed disposal of shares held by the vendors of Amber to
Jawira pursuant to the proposed acquisition of Amber under the
Proposed Restructuring Scheme. Pursuant thereto, Jawira had, on
15 July 2004, requested the vendors of Amber to appeal against
the decision of DBKL. As at to date, the decision of the vendors
of Amber in respect of Jawira's request for appeal is still
pending.

In addition, the vendors of Satujaya Sdn Bhd and the
shareholders of Major Entrepreneur Sdn Bhd had, vide their
letters to Jawira dated 28 July 2004 and 29 July 2004
respectively, agreed to extend the period for the fulfillment of
the conditions precedent as set out in the conditional
agreements dated 21 October 2002 to 31 December 2004 and 31
October 2004 respectively.

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

This announcement is dated 3 August 2004.

CONTACT:

Kemayan Corporation Berhad
Taman Tasek
Johor Bahru, Johor Bahru 80200
Malaysia
Tel: +60 7 236 2390
Tel: +60 7 236 5307


KILANG PAPAN: Awaits Restructuring Scheme Approval
--------------------------------------------------
Further to our announcement dated 1 July 2004, AmMerchant Bank
Berhad, on behalf of Kilang Papan Seribu Daya Berhad (KPSD),
announced that an approval on KPSD's revised Proposed
Restructuring Scheme has been obtained from the Ministry of
International Trade and Industry vide its letter dated 27 July
2004.

KPSD is currently waiting for approvals from the Securities
Commission and Foreign Investment Committee on its revised
Proposed Restructuring Scheme.

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

This announcement is dated 2 August 2004.

CONTACT:

Kilang Papan Seribu Daya Berhad
Lot 1 Harmoni Industrial Estate
Kolombong, Inanam 88100
Malaysia
Tel: +60 88 423 385
Tel: +60 88 423 287


MYCOM BERHAD: Releases Restructuring Scheme Update
--------------------------------------------------
Further to the last announcements dated 1 July 2004 and 29 July
2004, the Board of Directors of Mycom Berhad announced that
there is no other major development to the Proposed
Restructuring Scheme, which is in the process of implementation.
In a disclosure to the Bursa Malaysia Securities Berhad, the
Company will be making the relevant announcements from time to
time in relation to the Scheme.

CONTACT:

Mycom Berhad
No 8 Jalan Raja Chulan
Kuala Lumpur, 50200
Malaysia
Tel: +60 3 2072 3993
Tel: +60 3 2072 3996


OCEAN CAPITAL: MITI OKs Restructuring Exercise
----------------------------------------------
Ocean Capital Berhad announced that since its previous
announcement on 1 July 2004 in relation to the Proposed
Corporate Restructuring Exercise of the Company, there has been
no change in the status of the plan as disclosed below.

On 9 July 2004, Hwang-DBS Securities Berhad, on behalf of the
Board of Directors of Ocean, had announced that the Ministry of
International Trade and Industry had, vide their letter dated 8
July 2004, approved the Proposed Corporate Restructuring
Exercise of Ocean.

This Bursa Malaysia announcement is dated 2 August 2004.

CONTACT:

Ocean Capital Berhad
1-21, Jalan Temoh
41400 Klang, Selangor
Malaysia
Web address (URL): http://www.ocean-capital.com/
E-mail: ocean@informal.com.my
Tel no: 603-3434691/2/3/5
Fax no: 603-3430076


OLYMPIA INDUSTRIES: Issues Update of Restructuring Scheme
---------------------------------------------------------
Further to the last announcements dated 1 July 2004 and 29 July
2004, the Board of Directors of Olympia Industries Berhad
announced that there is no other major development to the
Proposed Restructuring Scheme of the Company. The Company will
be making the relevant announcements from time to time in
relation to the implementation of the Scheme.

This Bursa Malaysia announcement is dated 2 August 2004

c.c. Securities Commission

CONTACT:

Olympia Industries Berhad
No 8 Jalan Raja Chulan
Kuala Lumpur, 50200
Malaysia
Tel: +60 3 2070 0033
Tel: +60 3 2070 0011


PANTAI HOLDINGS: Issues Shares Buy Back Notice
----------------------------------------------
Pantai Holdings Berhad disclosed to Bursa Malaysia Securities
Berhad the details of its shares buy back on August 2, 2004.

Date of buy back: 02/08/2004

Description of shares purchased:  Ordinary shares of RM1.00 each

Total number of shares purchased (units): 225,000

Minimum price paid for each share purchased (RM): 0.870

Maximum price paid for each share purchased (RM): 0.900

Total consideration paid (RM): 197,831.69

Number of shares purchased retained in treasury (units): 225,000

Number of shares purchased which are proposed to be cancelled
(units):

Cumulative net outstanding treasury shares as at to-date
(units): 21,554,100

Adjusted issued capital after cancellation (no. of shares)
(units):

CONTACT:

Pantai Holdings Berhad
8 Jalan Damansara Endah
Damansara Heights Kuala Lumpur, Malaysia 50490
Malaysia
Tel: +60 3 2713 2282
Tel: +60 3 2094 4528


SATERAS RESOURCES: Releases Practice Note Update
------------------------------------------------
The Board of Directors of Sateras Resources (Malaysia) Berhad
announced that there is no development further to the
announcement made on 1st July pursuant to paragraph 4.1b of the
practice Note 4/2001 of the Listing Requirements.

Sateras Resources (Malaysia) Berhad announced on 5 May 2004 that
the Securities Commission vide its letter dated 31 March 2004
approved the Proposed Restructuring Scheme of the Company and
the resulting equity structure pursuant to the Guidelines for
Regulation of Acquisition of Assets, Mergers and Takeovers, 1974
as issued by the Foreign Investment Committee.

CONTACT:

Sateras Resources (Malaysia) Berhad
19 Jalan Pinang
Kuala Lumpur, Kuala Lumpur 50450
Malaysia
Tel: +60 2162 5288
Tel: +60 2161 8529


SELANGOR DREDGING: Issues Litigation Update
-------------------------------------------
The Board of Directors of Selangor Dredging Berhad (SDB)
announced the following:

On 13 June 1996, a writ of summons was filed against the Company
by a former tenant, Mutiara Metropolis Sdn Bhd (MMSB), seeking
damages totaling RM10 million plus cost for alleged wrongful
eviction and termination of tenancy. On 19 July 1996, the
Company through its solicitors filed an application in the High
Court to strike out the claim on the basis that the eviction was
made in accordance with the law (Suit).

On 30 July 2004, the Company was informed by its solicitors
having conduct of the Suit that the High Court had on 28 July
2004 allowed the claim by MMSB against the Company. Its
solicitors had advised the Company that there is uncertainty as
to the quantum of damages, if any, awarded to MMSB. The
Company's solicitors had on 29 July 2004 written to the High
Court for further clarification as to the issue of damages,
which was awarded, if any.

The Company had also been advised by its solicitors and has on
even date instructed its solicitors to proceed with an appeal
against the decision of the High Court.

This Bursa Malaysia announcement is dated 2 August 2004.

CONTACT:

Selangor Dredging Berhad
West Block 142-C Jalan Ampang
Kuala Lumpur, 50450
Malaysia
Tel: +60 3 2161 3377
Tel: +60 3 2161 6651


SIN HENG: Aims to Regularize Financial Condition
------------------------------------------------
Since the Company's last announcement on 1 July 2004, Sin Heng
Chan (Malaya) Berhad announced that there are no other changes
to the status of the Company's plan to regularize its financial
condition. The proposed Restructuring Scheme is currently
pending implementation.

At the close of acceptance and payment at 5 p.m. on 15 July
2004, the results of the acceptances level for the Right Issue
are announced on 21 July 2004.

All Right Shares, Irredeemable Convertible Unsecured Loan Stocks
and Warrants had been issued and alloted and an application for
listing and quotation will be made to Bursa Malaysia Berhad not
later than 5th August 2004.

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

This Bursa Malaysia announcement is dated 2 August 2004.

CONTACT:

Sin Heng Chan (Malaya) Berhad
2 Lorong Dungun Kiri Damansara Heights
Kuala Lumpur, 50490
Malaysia
Tel: +60 3 2094 7992
Tel: +60 3 2094 7996


SIN KEAN: Private Placement Expires August 13
---------------------------------------------
Further to the announcements dated 21 November 2002, 17 February
2003, 15 July 2003 and 29 January 2004, Malaysian International
Merchant Bankers Berhad, on behalf of the Board of Directors of
Sin Kean Boon Group Berhad (SKB), announced that the deadline
for the implementation of the Private Placement of up to a
maximum of 10 percent of the issued and paid-up share capital to
the time of issue will expire on 13 August 2004 and the Company
has no intention to implement the Private Placement prior to the
said expiry date.

For and on behalf of the Board of Directors of
Sin Kean Boon Group Berhad
Malaysian International Merchant Bankers Berhad

This announcement is dated 2 August 2004.

c.c. Issues & Investment Division
Securities Commission
(Attn: Encik Kris Azman Abdullah, Director)


SRIWANI HOLDINGS: Issues Update of Supplemental Agreement
---------------------------------------------------------
In compliance with the requirements of Paragraph 4.1 (b) of
Practice Note No. 2001 (PN 4/2001) of the Bursa Malaysia
Securities Berhad, Commerce International Merchant Bankers
Berhad on behalf of Sriwani Holdings Berhad (SHB), announced the
following development since the last announcement on 1 July 2004
pertaining to SHB's plan to regularize its financial condition.

On 5 July 2004, Cergasjaya Properties Sdn Bhd (CPSB), a wholly-
owned subsidiary of SHB, entered into a supplemental agreement
(Supplemental SPA) to the conditional sale and purchase
agreement dated 12 December 2003 between CPSB and Naluri Berhad
(Naluri) for the proposed disposal of the leases of three (3)
pieces of leasehold development land comprising a golf and
country club and vacant land (CPSB Land) to Naluri for a total
cash consideration of approximately RM27.481 million.

The Supplemental SPA is to revise certain terms in relation to
the payment of the balance purchase consideration of the CPSB
Land, details of which have been announced on Bursa Securities
on 5 July 2004.

This announcement is dated 2 August 2004.

CONTACT:

Sriwani Holdings Berhad
418 Chulia Street,
10200 Penang, Malaysia.
Tel: 604 - 262 8535
Fax: 604 - 261 4076
Toll Free: 1-800-888-002
E-mail: enquiry@sriwani.com.my


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


BAYAN TELECOMMUNICATIONS: Appoints New Finance Chief
----------------------------------------------------
Bayan Telecommunications Inc. (BayanTel) has appointed Salvador
"Dory" Tirona as the telco's new Chief Finance Officer, the
Philippine Star reports.

Mr. Tirona will head the key support groups of finance,
controllership, logistics and legal. He is a product of the
Ateneo de Manila University with AB Economics and MBA degrees
from said institution.

According to BayanTel chief consultant Tunde Fafunwa, "Dory is
certainly a great addition to the BayanTel team with his vast
experience in finance and general management. His experience
would be valuable as BayanTel implements the court-approved
rehabilitation plan to improve its balance sheet, sustain the
positive cash flow, and return the company back to
profitability."

Mr. Tirona was formerly an executive officer of the Asset
Privatization Trust, and had concurrent board of director
positions in several key companies, a partial list of which
includes Prime White Cement Corp., Island Cement Corp., National
Housing Corp., Pantranco North Express Inc., among others.

CONTACT:

Bayan Telecommunications Inc,
Investor Relations 3/F Bayantel
Corporate Center Maginhawa corner
Malingap Streets Teacher's Village East,
Diliman Quezon City 1101,
Website: http://www.bayantel.com.ph/


GRAND BOULEVARD: PHP1.7Bln Outstanding Debts Granted Reprieve
-------------------------------------------------------------
Judge Artemio S. Tipon of the Manila trial court granted Grand
Boulevard Hotel a reprieve of its PHP1.7 billion outstanding
debts, according to the BusinessWorld.

Grand Boulevard submitted to the Manila trial Court a
rehabilitation proposal, which according to Judge Tipon "will
ensure the continued viability and operation of the hotel and
consequently the protection of the interest of creditors and
stockholders."

The debt-saddled hotel is allowed to stay the enforcement of all
claims, whether for money or otherwise from creditors, Mr.
Tipon's order states.  The judge also prohibited the company
from selling, encumbering, transferring or disposing in any
manner any of its properties, except in the ordinary course of
business.

The court also barred Grand Boulevard from making any payment of
its liabilities outstanding as of the date of filing of its
petition for rehabilitation. To ensure that the company will be
able to continue operations, the court prohibited the hotel's
suppliers of goods or services from withholding supply of goods
and services in the ordinary course of business for as long as
Grand Boulevard pays its suppliers.

The 1997 financial crisis affected the company financially which
resulted in its inability to settle its commitments on
amortizations.

Grand Boulevard said it tried to negotiate a restructuring of
its loan with creditor banks but it did not push through because
of stiff conditions.

The hearing of Grand Boulevard's rehabilitation petition is set
on September 6.  Creditors should file their comments or
opposition to the plan at least 10 days before the hearing.

The hotel's creditors include, Land Bank of the Philippines, the
former Urban Bank (now Export and Industry Bank), the former
Westmont Bank (now United Overseas Bank) and Security Bank.


NATIONAL POWER: Rate Increase Could Affect Government's Target
--------------------------------------------------------------
The inflation rate target set by the government may not be met
this year if National Power Corp.'s (Napocor) proposed rate
increase will be implemented, reports the Manila Times, citing a
Bangko Sentral official.

The government's inflation rate target did not consider power
rate increase as a contributing factor to inflation.  It only
considered oil prices, wages and increase of utility rate of
Manila Electric Co. (Meralco).

Although the utility rates accounted for only a small portion in
consumer price index, the official said the expected approval in
the increase of Napocor rates would push the inflation rates
this year.

Increasing oil prices could further elevate the inflation rate
toward the end of the year.   Prices of basic necessities and
prime commodities will not experience a "drastic increase" even
if prices of petroleum products continue to rise, for local
manufacturers, traders and retailers have agreed to keep prices
lower in support of the government's Price Stabilization
Program.

Napocor in its proposal sought for an increase in its generation
rates to raise its return on rate base (RORB) to at least eight
percent.  The power firm's RORB is at two percent in its
existing charges, which consist of different grid rates.

Napocor is aiming a rate increase of P1.9831 a kWh in Luzon,
P1.7715 a kWh in Visayas and P1.83283 a kWh in Mindanao.

For July, the bank projected the inflation rate to range from
5.3 percent to 5.9 percent.

CONTACT:

National Power Corporation
Quezon Ave., East Triangle, Diliman
Quezon City, Metro Manila, Philippines
Phone: +63-2921-3541
Fax: +63-2921-2468


PHILIPPINE LONG: Issues 1,000 Additional Shares for Listing
-----------------------------------------------------------
The Philippine Stock Exchange approved on June 14, 2000, the
application submitted by Philippine Long Distance Telephone Co.
(PLDT) to list additional 1,289,745 common shares, with a par
value of P5.00 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 1,000
common shares have been availed of and fully paid by the
optionee under the Company's ESOP.

In view thereof, the listing of the 1,000 common shares is set
today Thursday, August 5, 2004. This brings the number of common
shares listed under the ESOP to a total of 138,624 common
shares.

The designated stock transfer agent is hereby authorized to
record and register in its books the above number of shares.

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


UNITED COCONUT: Completes Disposal of PHP190Mln Idle Assets
-----------------------------------------------------------
United Coconut Planters Bank (UCPB) was able to successfully
dispose its PHP190 million worth of non-performing assets
through a public auction, according to the BusinessWorld.

UCPB has so far generated PHP1 billion from the sale proceeds of
its idle assets with PHP484.3 billion comprising assets that the
bank sold this year just on retail public auctions alone.

"The good market response has encouraged the bank to schedule at
least two more retail public auctions before the year ends. We
hope to be able to dispose of another PhP500 million in [bad
assets] in the succeeding two retail auctions," BusinessWorld
quoted UCPB Vice President Christine Y. Carandang as saying.

In order to increase the value of its bad assets, UCPB is
looking at joint ventures.

CONTACT:

United Coconut Planters Bank
UCPB Head Office
7907 Makati Ave., Makati City
Telephone No: (632) 811-9000

Customer Service:
Customer Relations Center
12/F UCPB Bldg.
7907 Makati Ave., Makati City
Telephone No: (632) 811-9111
Email Address: crc@ucpb.com


UNIVERSAL RIGHTFIELD: SEC Revokes Registration of Securities
------------------------------------------------------------
The Securities and Exchange Commission's (SEC) records show that
Universal Rightfield Property Holdings, Inc. violated SRC Rule
17 for its failure to submit on due dates the following reports
despite notice and hearing:

- 2002 First to Third Quarter Reports (17-Q)
- 2001 Annual Report (17-A)

In view thereof, the Commission in its meeting of May 22, 2003
resolved to Revoke the effectiveness of the company's
Registration of Securities and Permit to Sell Securities to the
Public in accordance with Section 13.1 of the Securities
Regulation Code (SRC).

This order shall not exempt the company from its reporting
obligations under the SRC and its implementing Rules and
Regulations if its total assets is at least Fifty Million Pesos
(PHP50,000,000.00) and has at least Two Hundred (200)
stockholders each holding at least One Hundred (100) shares,
pursuant to Section 17.2 of the Securities Regulation Code.

CONTACT:

Universal Rightfield Holdings Inc.
Unit 713-714 Pioneer Corporate Center
Pioneer Highlands, Pioneer St.
Corner Madison St., Mandaluyong City
Telephone No/s: 637-0977 to 82
Fax No/s: 637-2437
Email Address: urphi@pworld.net.ph


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


CAIN SALES: Court Issues Winding Up Order
-----------------------------------------
In the Matter of Cain Sales & Consultancy Pte Ltd., a Winding Up
Order was made on 30th July 2004.

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

Messrs Wong Partnership
Solicitors for the Petitioners.

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


FAMCO BOAT: Enters Winding Up Proceedings
-----------------------------------------
Notice is hereby given that a Petition for the winding up of the
Famco Boat Services Pte Ltd, who are the Respondent herein, by
the High Court was, on the 20th day of July 2004, presented by
Palmstone Petroleum Pte Ltd, a company incorporated under the
laws of Singapore and having its registered office at 365S
Alexandra Road, Singapore 159949, the creditors.

The Petition is scheduled before the High Court sitting at
Singapore at 10.00 a.m., on the 13th day of August 2004.

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

The Petitioner's address is 365S Alexandra Road, Singapore
159949.

The Petitioner's solicitors are Yeo Wee Kiong Law Corporation, 1
Raffles Place, #39-02 OUB Centre, Singapore 048616.

YEO WEE KIONG LAW CORPORATION
Solicitors for the Petitioner.

Note: Any person who intends to appear at the hearing of the
Petition must serve on or send by post to the above named YEO
Wee Kiong Law Corporation, 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 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 12.00
noon of the 12th day of August 2004 (the day before the day
appointed for the hearing of the Petition).


FHTK HOLDINGS: Appoints New Group Chief Financial Officer
---------------------------------------------------------
FHTK Holdings Limited, in a press release, announced the
appointment of Mr. Ng Weng Sui Harry as Group Chief Financial
Officer effective August 3, 2004.

Name: Ng Weng Sui Harry

Age: 48

Country of principal residence: Singapore

Whether appointment is executive, and if so, the area of
responsibility: Executive
Direct and manage the Group's Finance Department and oversee the
Information Services Department.

Working experience and occupation(s) during the past 10 years:

June 1, 2003 to July 30, 2004 - GES International Limited ,
Internal Audit Manager

September 1, 1999 to May 31, 2003 - Eltech Electronics Limited,
Chief Financial Officer

October 1, 1996 to August 25, 1999 - Luxasia Pte Ltd, Group
Financial Controller

February 1, 1992 to September 30, 1996 - Cosmetiques De France
(1990) Pte Ltd, Finance & Admin Manager

Other directorships

Past: Eltech Electronics Technology (S) Pte Ltd

Present: None

Shareholding in the listed issuer and its subsidiaries: 250,000
- FHTK Holdings Ltd

Family relationship with any director and/or substantial
shareholder of the listed issuer or of any of its principal
subsidiaries: None

Conflict of interest: None

Information required by Rule 704(7)(h)

Disclose the following matters concerning a director, chief
executive officer, general manager or other executive officer of
equivalent rank. If the answer to any question is "yes", full
details must be given.

(a) Whether at any time during the last 10 years, a petition
under any bankruptcy laws of any jurisdiction was filed against
him or against a partnership of which he was a partner?
No

(b) Whether at any time during the last 10 years a petition
under any law of any jurisdiction was filed against a
corporation of which he was a director or key executive for the
winding up of that corporation on the ground of insolvency?
No

(c) Whether there is any unsatisfied judgment against him?
No

(d) Whether he has ever been convicted of any offence, in
Singapore or elsewhere, involving fraud or dishonesty which is
punishable with imprisonment for 3 months or more, or has been
the subject of any criminal proceedings (including any pending
criminal proceedings which he is aware of) for such purpose?
No

(e) Whether he has ever been convicted of any offence, in
Singapore or elsewhere, involving a breach of any law or
regulatory requirement that relates to the securities or futures
industry in Singapore or elsewhere, or been the subject of any
criminal proceedings (including any pending criminal proceedings
which he is aware of) for such breach?
No

(f) Whether at any time during the last 10 years, judgment has
been entered against him in any civil proceedings in Singapore
or elsewhere involving a breach of any law or regulatory
requirement that relates to the securities or futures industry
in Singapore or elsewhere, or a finding of fraud,
misrepresentation or dishonesty on his part, or he has been the
subject of any civil proceedings (including any pending civil
proceedings which he is aware of) involving an allegation of
fraud, misrepresentation or dishonesty on his part?
No

(g) Whether he has ever been convicted in Singapore or elsewhere
of any offence in connection with the formation or management of
any corporation?
No

(h) Whether he has ever been disqualified from acting as a
director of any corporation, or from taking part directly or
indirectly in the management of any corporation?
No

(i) Whether he has ever been the subject of any order, judgment
or ruling of any court, tribunal or governmental body,
permanently or temporarily enjoining him from engaging in any
type of business practice or activity?
No

(j) Whether he has ever, to his knowledge, been concerned with
the management or conduct, in Singapore or elsewhere, of the
affairs of -

(i) any corporation which has been investigated for a breach of
any law or regulatory requirement governing corporations in
Singapore or elsewhere; or

(ii) any corporation or partnership which has been investigated
for a breach of any law or regulatory requirement that relates
to the securities or futures industry in Singapore or elsewhere,
in connection with any matter occurring or arising during the
period when he was so concerned with the corporation or
partnership?
No

Submitted by Mrs. Tan Lay Beng, Company Secretary on August 3,
2004 to the Singapore Stock Exchange.

CONTACT:

Fhtk Holdings Limited
20 Harbour Drive
Singapore 117612
Singapore
Phone: +65 6779 5688
       +65 6777 3960
Website: www.fhtk.com.sg/


FHTK HOLDINGS: Posts Change In Shareholder's Interest
-----------------------------------------------------
Following is a Notice Of a Change in the Percentage Level of a
Substantial Shareholder's Interest filed by FHTK Holdings Ltd.
with the Singapore Exchange:

Part I

(1) Date of notice to issuer: August 3, 2004

(2) Name of Substantial Shareholder: Citibank N.A., Singapore
Branch

(3) Please tick one or more appropriate box(es):
     (Please complete Parts II and IV)

a Change in the Percentage Level of a Substantial Shareholder's
Interest or Cessation of Interest.
     (Please complete Parts III and IV)

Part II

(1) Date of change of interest:

(2) Name of Registered Holder:

(3) Circumstance(s) giving rise to the interest or change in
interest:

(4) Information relating to shares held in the name of the
Registered Holder:

No. of shares held before the change:

As a percentage of issued share capital:

No. of shares which are the subject of this notice:
As a percentage of issued share capital:

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

No. of shares held after the change:

As a percentage of issued share capital:

Part III

(1) Date of change of interest: July 26, 2004
(2) The change in the percentage level: From 5.265% to 5.261%
(3) Circumstance(s) giving rise to the interest or change in
interest: Sales in open market at own discretion
(4) A statement of whether the change in the percentage level is
the result of a transaction or a series of transactions.

Change is the result of a transaction.

Part IV

(1) Holdings of Substantial Shareholder, including direct and
deemed interest:

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


HARTFORD HOLDINGS: Issues Profit Warning
----------------------------------------
In anticipation of the announcement of the results for the
financial year ended June 30, 2004, the Board of Directors of
Hartford Holdings Limited deems it appropriate to issue a profit
warning to shareholders. The Directors expect the Group to
report a loss for the financial year ended June 30, 2004.

The Company is in the process of finalizing the results for the
financial year ended 30 June 2004. Further details of the
Group's performance will be disclosed when it announces its
financial results for the year ended 30 June 2004 on 20th August
2004.

Submitted by Vincent Wee Chye Huat, Chief Executive Officer and
Executive Director on August 3, 2004 to the Singapore Stock
Exchange.


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


DATAMAT: Acquires Core Banking System Project
---------------------------------------------
Datamat PCL disclosed to the Stock Exchange of Thailand that the
Board of Government Housing Bank has resolved to elect the
company as the winner of the auction it has participated in
relation to the procurement of the Core Banking System Project
arranged by the Government Housing Project.

The following are the brief details of the said project:

Project amount: THB631,362,994.11 (VAT included)

The price includes Maintenance for 5 years.
Duration: 6 years

Start: August 2004
Installation and customization: 1 year
Warranty Period: 1 year
Maintenance: 4 years

For your information,
Sincerely yours,
Kusol Sangkananta
Director and Secretary to the Board

CONTACT:

Datamat Pcl
Asoke Towers, Floor 17, 18 And 19,
219 Soi Asoke (Sukhumvit 21),
Sukhumvit Road, Klongtoey Nua,
Watthana Bangkok
Telephone: 0-2310-5111
Fax: 0-2319-8208
Web site: www.datamat.co.th


THAI PETROCHEMICAL: Finance Minister Approves Revised Plan
----------------------------------------------------------
Thai Finance Minister Somkid Jatusripitak has approved Thai
Petrochemical Industry PCL's revised debt restructuring plan,
according to Dow Jones Newswires.

"The Finance Ministry has given the green light to the revised
debt plan. We expect that the whole process (the planned
amendment) will be completed in two to three months, if there
aren't any hurdles," Dow Jones quoted Mr. Somkid as saying.

The debt plan administrator will submit the amended plan to
creditors before sending it to the bankruptcy court for final
approval, Mr. Somkid added.  If the court approves the plan, the
new shares can be offered with the finance ministry taking
charge of share allocation.

"Creditors have given their rights to the ministry to take care
of the issue. We don't expect that they will have any problem"
with the new plan, Mr. Somkid told reporters.

The restructuring will bring down the company's debt to $1.8
billion, which will be repaid from TPI's operational cash flow,
Mr. Somkid said.

CONTACT:

Thai Petrochemical Industry Pcl
TPI Tower, Floor 8, 26/56
New Jun Road, Thungmahamek, Sathon Bangkok
Telephone: 0-2678-5000, 0-2678-5100
Fax: 0-2678-5001-5
Website: www.tpigroup.co.th





                            *********


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