---

        T R O U B L E D   C O M P A N Y   R E P O R T E R

                     A S I A   P A C I F I C

             Monday, September 6, 2004, Vol. 7, No. 176

                            Headlines

A U S T R A L I A

AIRLINE FACILITIES: Sets Joint Meeting of Members and Creditors
AUSTRALIAN GAS: $200Mln Construction Project Begins in October
CAPTAINS FLAT: Sets September 28 Members Meeting
CUTHBERTSON & RICHARDS: Members Meeting Slated For September 28
D & G SWAN: Court Issues Winding Up Petition

GYMPIE GOLD: Receivers Confirm Reopening of Southland Colliery
JACK BRODERICK: Issues Notice To Creditors and Members
KRAZY WOMBAT: Issues Notice of Application for Winding Up Order
MACRORRHYNCHA PROPRIETARY: Final Members' Meeting Set
MILLARD AUSTRALIA: Issues Notice to Creditors

MONARO SAWMILLS: Sets Members Meeting on September 28
MORESWENT PTY: Issues Notice to Creditors
NEBRU PLAINS: Secured Creditor Benefits From Asset Sale
PACIFIC EXPRESS: Court Hears Bankruptcy Petition September 13
PAN PHARMACEUTICAL: Mulling Legal Action Against TGA

POTIN PTY: Members, Creditors Meeting Slated for September 28
RISLOW PTY: Issues Notice of Final Meeting
RSP FORMWORK: Faces Winding Up Petition
SCAFFOLDING SERVICES: Issues Notice to Creditors and Members
SHED WORLD: Faces Winding Up Petition

SONS OF GWALIA: Founders Issue Statement On Collapse
TABLELANDS SAWMILLS: Members Meeting Slated for Sept. 28
TEAM NEVEREST: Issues Intended Dividend Notice
TONILA PTY: Schedules Members' Meeting on September 16
TRIPFINDER LIMITED: Faces Winding Up Petition

YPV ENTERPRISES: To Declare First and Final Dividend


C H I N A  &  H O N G  K O N G

HAYWOOD INVESTMENT: Notes Unusual Price, Volume Movements
HSBC CHINA: 1H Net Loss Swells to US$233K
MAK KEE: Sets Members' and Creditors' Annual Meetings
MANHOKO LIMITED: To Hold Annual Meetings September 30
NEWFAIR CORPORATION: Court Issues Winding Up Petition

SWANEE ENGINEERING: Winding Up Hearing Slated October 6


I N D O N E S I A

BANK PERMATA: Winning Bidder Must Support API, Says BI Governor
PERTAMINA: To Seek New Cepu Block Partner
PERTAMINA: Names PR Chief to Head HK-based Unit


J A P A N

KAWASAKI HEAVY: To Raise JPY24.9Bln in Euroyen CBs
MITSUBISHI FUSO: Mitsubishi Group Staff To Help With Recalls
SHOWA LEASING: Shinsei Bank Mulls Stake Buy
SOJITZ HOLDINGS: To Announce New Business Plan
SOJITZ HOLDINGS: Unit Dissolves NEPCO

UFJ HOLDINGS: Shinsei Bank Eyes Aplus


K O R E A

HYNIX SEMICONDUCTOR: To Support DDR2 Ram in Indian Market
KOOKMIN BANK: Given A Month To Restate Earnings
PAN OCEAN: Creditors To Pick Preferred Bidder This Week
SSANGYONG MOTORS: To Cut Interest Rates Along With GM Daewoo


M A L A Y S I A

AKTIF LIFESTYLE: Issues Unit Disposal Status Report
AOKAM PERDANA: Unveils Share Capital Reduction Plan
AOKAM PERDANA: Issues Default Status Notice
CONSOLIDATED FARMS: Releases Monthly Status Update
CSM CORPORATION: Discloses Monthly Status Update

FABER GROUP: Unveils Regularization Scheme
FORESWOOD GROUP: Awaits SC Decision on Restructuring Plan
GOLDEN FRONTIER: Issues Notice of Debt Buy Back
GULA PERAK: Grants Listing of 10,200 Ordinary Shares
INNOVEST BERHAD: White Knight Participates in Restructuring

INTEGRATED RUBBER: Implements Restructuring Scheme
JASATERA BERHAD: In Talks With Bank Lenders
KSU HOLDINGS: Updates Regularization Scheme
MUHIBBAH ENGINEERING: Unit Appoints Liquidator
MYCOM BERHAD: Completes Purchase Agreement

MYCOM BERHAD: Reschedules Court Hearing to October 18
NAIM INDAH: Issues Additional 113,757,596 Ordinary Shares
NAM FATT: Unit Enters Voluntary Liquidation
NAUTICALINK BERHAD: Submits Regularization Scheme
TECHVENTURE BERHAD: Details Debt Restructuring Scheme

UNITED CHEMICAL: To Complete Investigative Audit Report


P H I L I P P I N E S

BALABAC RESOURCES: Postpones Annual Stockholders' Meeting
HOUSE OF INVESTMENTS: Seeks Restructuring Approval
NATIONAL POWER: Three More Foreign Firms To Join Bid
NATIONAL POWER: Rate Hike Ruling Out Soon
NEGROS NAVIGATION: Receiver Proposes 10-Year Rehab Plan

PHILIPPINE BANK: Evaluating NPA Bids


S I N G A P O R E

ASIA HARVEST: Creditors to Post Claims On or Before October 4
HAI SIANG: Winding Up Proceedings Set on September 27
HIAP HENG: Court Issues Winding Up Notice
HO WAH: To Hold EGM September 16
HUA KOK: Details Financial Impacts of New Transactions

INOUE SCHOOL: To Undergo Winding Up Proceedings
LIANG HUAT: Court Issues Winding Up Notice
PANPAC MEDIA: Enters Into Letter Agreement with Two Shareholders
WEE POH: Sets September 17 EGM


T H A I L A N D

DATAMAT: Issues Report on Resignation of Director
SIAM AGRO: SET Posts SP On Securities
THAI GERMAN: Issues Progress of Business Reorganization

     -  -  -  -  -  -  -  -

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


AIRLINE FACILITIES: Sets Joint Meeting of Members and Creditors
---------------------------------------------------------------
Notice is given pursuant to Section 509 of the Corporations Act
2001 that a joint meeting of the members and creditors of
Airline Facilities Pty Limited (In Liquidation) will be held at
the offices of Horwath Sydney, Level 10, 1 Market Street, Sydney
on 6 October 2004 company be distributed in whole or in part to
the members in specie should the liquidators so desire.

David Goddard
Liquidator
Level 8, 1 Castlereagh Street, Sydney NSW 2000


AUSTRALIAN GAS: $200Mln Construction Project Begins in October
--------------------------------------------------------------
The Australian Gas Light Company (AGL) announced in a press
release on Friday that it would purchase up to 50 percent of the
Renewable Energy Certificate (REC) output of Western Australia's
largest wind farm to be built at Walkaway near Geraldton in the
Shire of Greenough.

Construction on the 54-turbine, $200 million project is
scheduled to begin next month by owner and project developer
Renewable Power Ventures and is expected to take 15 months to
complete.

The 89.1-megawatt wind farm will generate enough power to supply
approximately 60,000 Western Australian households and will save
the equivalent of 400,000 tonnes of carbon dioxide emissions
annually. The REC output AGL has purchased over the life of the
project is equivalent to taking 48,000 cars off the road
permanently.

The REC output, secured under long term contract, will be added
to AGL's overall REC portfolio, allowing AGL to meet its
commitments under the Federal Government's Mandatory Renewable
Energy Target (MRET) scheme to reduce greenhouse gas emissions.

The project is part of AGL's commitment to environmentally-
friendly initiatives through business activities and by
providing customers with product choices, which source renewable
energy through wind, biomass and landfill projects. These
include two land fill gas extraction sites at Gosnells and
Rockingham in WA.

"AGL's growth strategy includes a strong focus on further
investment in renewable energy projects," AGL Managing Director
Greg Martin said.

"AGL is continuing to examine a range of opportunities to
further grow our renewable energy portfolio which may involve
direct equity participation in projects as an alternative to
contracting output," Mr. Martin concluded.

Further Enquiries:

Contact: Jane Counsel, Media Relations Manager
Direct: (02) 9921 2352
Mobile: 0416 275 273


CAPTAINS FLAT: Sets September 28 Members Meeting
------------------------------------------------
Notice is given that a final meeting of the members of Captains
Flat Hardwoods Supplies Pty Limited (In Liquidation) will be
held at Suite 5, 32 Thesiger Court, Deakin ACT on Thursday 28
September 2004 at 10:45 a.m.

AGENDA

(1) To receive an account showing how the winding up has been
conducted and the property of the company has been disposed of;
(2) To receive any explanation in relation to the winding up.

Dated this 31st day of August 2004.

H. J. KAZAR
Liquidator
PO Box 211, Deakin West ACT 2600


CUTHBERTSON & RICHARDS: Members Meeting Slated For September 28
---------------------------------------------------------------
Notice is given that a final meeting of the members of
Cuthberson & Richards Sawmills Pty Limited (In Liquidation) will
be held at Suite 5, 32 Thesiger Court, Deakin ACT on Tuesday 28
September 2004 at 10:30 a.m.

AGENDA

(1) To receive an account showing how the winding up has been
conducted and the property of the company has been disposed of;
(2) To receive any explanation in relation to the winding up.

Dated this 31st day of August 2004.

H. J. KAZAR
Liquidator
PO Box 211, Deakin West ACT 2600


D & G SWAN: Court Issues Winding Up Petition
--------------------------------------------
On 24 June 2004, the Supreme Court of New South Wales, Equity
Division, made an Order that D & G Swan Nominees Pty Limited be
wound up and appointed R.J. Porter as Official Liquidator.

R. J. PORTER
Official Liquidator
Moore Stephens PMN
Chartered Accountants
Level 6, 460 Church Street,
Parramatta NSW 2150


GYMPIE GOLD: Receivers Confirm Reopening of Southland Colliery
--------------------------------------------------------------
The receivers of Gympie Gold Ltd. said negotiations for the
reopening of Southland Colliery, the company's wholly-owned
subsidiary, are already underway, the Newcastle Herald reports.

According to State Mineral Resources Minister Kerry Hickey, the
prospective buyer had until September to finalize the deal. It
would take two months for the contract to be settled and Mr.
Hickey hoped the mine's reopening could begin.

Gympie Gold announced on December 30, 2003 in a media release
that following the devastating underground fire at the Southland
Colliery over the Christmas period and the subsequent sealing of
the mine, the Board of Gympie Gold Limited has appointed Joseph
Hayes and Murray Smith of KPMG as Voluntary Administrators to
the Group.

CONTACT:

Gympie Gold Ltd.
Suite 303, 3 Spring Street
SYDNEY, NSW, AUSTRALIA, 2000  
Head Office Telephone: 02 8249 4479  
Head Office Fax: 02 8249 4001  
Website: http://www.gympiegold.com.au/


JACK BRODERICK: Issues Notice To Creditors and Members
------------------------------------------------------
Notice is hereby given that a Final Meeting of Creditors and
Members of Jack Broderick Machinery Pty Limited (In Liquidation)
will be held at the office of Nicholls & Co. Chartered
Accountants, Suite 2, 1st Floor, 43 Macquarie Street, Dubbo, New
South Wales on the 17th day of September, 2004 at 11:00 a.m. for
the purpose of receiving the Liquidator's account showing how
the winding up has been conducted and the property of the
Company disposed of and hearing any explanation which may be
given by the Liquidator.

Dated this 17th day of August 2004.

ALAN NICHOLLS
Liquidator
c/- Nicholls & Co
Chartered Accountants
PO Box 1250, Dubbo NSW 2830


KRAZY WOMBAT: Issues Notice of Application for Winding Up Order
---------------------------------------------------------------
An Application for the winding up of Krazy Wombat Pty Ltd was
commenced by the Applicant, Eskbay Pty Ltd on 12 August 2004 and
will be heard by the Court at George Street, Brisbane at 9.30
a.m. on 13 September 2004.

Copies of documents filed may be obtained from the Applicant's
address for service.

Short Punch & Greatorix
Solicitors
Corner Bundall Road and Crombie Avenue
Bundall Qld 4217 Telephone: (07) 5570 9363
Facsimile: (07) 5570 9392, Email
Web site: rmc@spglawyers.com.au

Note: Any person intending to appear at the Hearing must file a
Notice of Appearance in Form 4, together with any Affidavit on
which the person intends to rely, and serve a copy of the Notice
and any Affidavit on the Application on the Applicant's address
for service at least three days before the date fixed for the
Hearing.


MACRORRHYNCHA PROPRIETARY: Final Members' Meeting Set
-----------------------------------------------------
Notice is hereby given that pursuant to section 509 of the
Corporations Act 2001, the final meeting of members of
Macrorrhyncha Proprietary Limited (In Liquidation) will be held
at the offices of McPherson, Burgess & Associates on the 17th
day of September, 2004 at 9.00 a.m. for the purpose of laying
before the meeting the liquidators' final account and report and
giving any explanation thereof.

Peter John Burgess
Liquidator
McPherson, Burgess & Associates
Chartered Accountants
7 Macquarie Street, Taree NSW 2430


MILLARD AUSTRALIA: Issues Notice to Creditors
---------------------------------------------
A priority unsecured dividend is to be declared on 28 September
2004 for Millard Australia Pty Limited.

Creditors of the above class whose debts or claims have not
already been admitted are required on or before 21 September
2004 to formally prove their debts or claims. If they do not,
they will be excluded from the benefit of the dividend.

Dated this 16th day of August 2004.

MICHAEL G. JONES
Deed Administrator
c/- Jones Condon
Chartered Accountants
Telephone (02) 9251 5222


MONARO SAWMILLS: Sets Members Meeting on September 28
-----------------------------------------------------
Notice is given that a final meeting of the members of Monaro
Sawmills Pty Limited (In Liquidation) will be held at Suite 5,
32 Thesiger Court, Deakin ACT on Tuesday 28 September 2004 at
11:00 a.m.

AGENDA

(1) To receive an account showing how the winding up has been
conducted and the property of the company has been disposed of;
(2) To receive any explanation in relation to the winding up.

Dated this 31st day of August 2004.

H. J. KAZAR
Liquidator
PO Box 211, Deakin West ACT 2600


MORESWENT PTY: Issues Notice to Creditors
-----------------------------------------
A first and final priority dividend is to be declared on 7
October 2004 in respect of Moreswent Pty Limited (In
Liquidation) trading as Summit Coaches.

Priority creditors must formally prove their debt or claim on or
before 22 September 2004 otherwise they may be excluded from the
benefit of the dividend.

Dated this 31st day of August 2004.

HENRY KAZAR
Liquidator
c/- SimsPartners
Suite 5, 32 Thesiger Court, Deakin ACT 2600


NEBRU PLAINS: Secured Creditor Benefits From Asset Sale
-------------------------------------------------------
The sale of the main assets of Nebru Plains Pty Ltd. organized
by its receivers raised around $15 million, reports the West
Australian.

The proceeds covered much of major creditor Rabobank's exposure
but left nothing for unsecured creditors other than what they
might retrieve through personal guarantees. The unsecured
creditors include Janet Holmes a Court, Elders and AWB Landmark.  

Mrs. Holmes a Court, who is supposedly owed around $130,000 for
livestock, applied to the Supreme Court last week for Nebru
Plains to be wound up.

Receiver Martin Jones of Ferrier Hodgson said Tuesday the sale
of the Nebru Plains feedlot and farm near Three Springs, its
abattoir at North Dandalup, and around 700 cattle would leave a
deficiency of some $4 million to $5 million.

The Pugh family acquired the 2834-hectare property, including
the 12,000-head feedlot, fodder, standing crops and machinery.
The deal was expected settled last Friday.  A contract for the
sale of the abattoir to WA processor EG Green is due to be
settled next month.

Nebru Plains was hit by disruption in the Japanese market after
the mad cow disease outbreak three years ago, and record cattle
and grain prices.


PACIFIC EXPRESS: Court Hears Bankruptcy Petition September 13
-------------------------------------------------------------
An Application for the winding up of Pacific Express
International Pty Ltd A.C.N. 078 016 458 was commenced by the
Applicant, Eskbay Pty Ltd A.C.N. 066 446 884 on 12 August 2004
and will be heard by the Court at George Street, Brisbane at
9.30 a.m. on 13 September 2004.

Copies of documents filed may be obtained from the Applicant's
address for service.

Short Punch & Greatorix
Solicitors
Corner Bundall Road and Crombie Avenue
Bundall Qld 4217
Telephone: (07) 5570 9363
Facsimile: (07) 5570 9392
Email: rmc@spglawyers.com.au

Note: Any person intending to appear at the Hearing must file a
Notice of Appearance in Form 4, together with any Affidavit on
which the person intends to rely, and serve a copy of the Notice
and any Affidavit on the Application on the Applicant's address
for service at least three days before the date fixed for the
Hearing.


PAN PHARMACEUTICAL: Mulling Legal Action Against TGA
----------------------------------------------------
Pan Pharmaceutical founder Jim Selim is considering filing suit
against Therapeutic Goods Administration (TGA), the Age reports.

The regulator was responsible for the collapse of Pan
Pharmaceuticals, which cost Mr. Selim, a 53 percent shareholder
of the company, a total of $110 million.

A year ago, Mr. Selim considered launching a legal attack
against the regulator, but instead decided to fund Federal Court
examinations later this month by the administrator of a small
Gold Coast company which blames its $3 million collapse on the
TGA's April 2003 recall of 16,000 vitamin and herbal products
made by Pan.

The discontinuance of the examinations could be used against TGA
in favor of Pan.  Evidence gathered could also prove useful to
Mr. Selim in preparing his defense to the damages claim filed
against him in April by Pan liquidator Tony McGrath of
McGrathNicol & Partners.

Mr. Selim floated the prospect of joining the Therapeutics Goods
Administration as a co-defendant last year when Mr. McGrath
first foreshadowed the case, which is based on Mr. Selim's
alleged breach of duty as Pan's chief executive in not ensuring
the company met regulatory health standards.

Mr. McGrath has expressed no interest in suing the TGA on behalf
of Pan's creditors.

Markethaven Pty Ltd., a Queensland company which went into
administration last November, used Pan as contract manufacturer
of more than half the complementary medicines it sold.  Five
months later Markethaven's creditors switched administrator to
the Sydney practice Sheahan Lock Partners.

For more information, click
http://bankrupt.com/misc/PANPHARMACEUTICAL082403.pdf

CONTACT:

Pan Pharmaceuticals
Factory and Offices
10-12 Church Road
Moorebank 2170
New South Wales

P.O. Box 566
Moorebank 1875
New South Wales
Australia

Telephone: 61 2 9734 9988
Fax: 61 2 9822 7100
Email: info@panpharma.com.au


POTIN PTY: Members, Creditors Meeting Slated for September 28
-------------------------------------------------------------
Notice is given that a general meeting of members and creditors
of Potin Pty Limited (In Liquidation) will be held at the
offices of Senatore Brennan Rashid, Level 7, 28 University
Avenue, Canberra ACT 2601 on Tuesday 28 September 2004 at 10:00
a.m.

The purpose of the meeting is to lay accounts before it, showing
the manner in which the winding up has been conducted and the
property of the company disposed of, and for hearing any
explanation that may be given by the Liquidator.

Dated this 24th day of August 2004.

E. M. SENATORE
Liquidator
Telephone: (02) 6214 6700,
Facsimile: (02) 6214 6799


RISLOW PTY: Issues Notice of Final Meeting
------------------------------------------
Notice is hereby given that a Final Meeting of Creditors and
Members of Rislow Pty Limited (In Liquidation) will be held at
the office of Nicholls & Co. Chartered Accountants, Suite 2, 1st
Floor, 43 Macquarie Street, Dubbo, New South Wales on the 17th
day of September, 2004 at 11:00 a.m. for the purpose of
receiving the Liquidator's account showing how the winding up
has been conducted and the property of the Company disposed of
and hearing any explanation which may be given by the
Liquidator.

Dated this 17th day of August 2004.

ALAN NICHOLLS
Liquidator
c/- Nicholls & Co
Chartered Accountants
PO Box 1250, Dubbo NSW 2830


RSP FORMWORK: Faces Winding Up Petition
---------------------------------------
Notice is hereby given for an application of winding up order of
RSP Framework Pty Ltd.

(1) A proceeding for the winding up of RSP Formwork Pty Ltd was
commenced by the plaintiff Brooker Engineering Pty. Ltd. A.C.N.
103 869 969 on 10 August 2004 and will be heard by the Supreme
Court of New South Wales at the Registrar's Court, Court 7A,
Level 7, Supreme Court, Queens Square, Sydney at 11.00 a.m. on 9
September 2004. Copies of documents filed may be obtained from
the plaintiff's address for service.

(2) The plaintiff's address for service is c/- Harris & Harris,
112 Majors Bay Road, Concord, 2137, Telephone, 9736 1544.

(3) Any person intending to appear at the hearing must file a
notice of appearance in accordance with the prescribed form
together with any affidavit on which the person intends to rely
and serve a copy of the notice and any affidavit on the
plaintiff at the plaintiff's address for service at least 3 days
before the date fixed for the hearing.

Name of plaintiff's legal practitioner: BARRY CHARLTON HARRIS


SCAFFOLDING SERVICES: Issues Notice to Creditors and Members
------------------------------------------------------------
Notice is hereby given that a Final Meeting of Creditors and
Members of Scaffolding Services Pty Limited (In Liquidation)
will be held at the office of Nicholls & Co. Chartered
Accountants, Suite 2, 1st Floor, 43 Macquarie Street, Dubbo, New
South Wales on the 17th day of September, 2004 at 10:00 a.m. for
the purpose of receiving the Liquidator's account showing how
the winding up has been conducted and the property of the
Company disposed of and hearing any explanation which may be
given by the Liquidator.

Dated this 17th day of August 2004.

STEPHEN JAY
Liquidator
c/- Nicholls & Co
Chartered Accountants
PO Box 1250, Dubbo NSW 2830


SHED WORLD: Faces Winding Up Petition
-------------------------------------
Notice is hereby given that at an extraordinary general meeting
of members of Shed World (NSW) Pty Limited (In Liquidation) held
on 16 August 2004, it was resolved that the company be wound up
voluntarily and at a meeting of creditors held on the same day
it was resolved that Michael John Morris Smith be appointed
liquidator.

Dated this 17th day of August 2004

M. J. M. SMITH
Liquidator
Smith Hancock
Chartered Accountants
Level 4, 88 Phillip Street,
Parramatta NSW 2150


SONS OF GWALIA: Founders Issue Statement On Collapse
----------------------------------------------------
Sons of Gwalia founding brothers Peter and Chris Lalor have made
their first public statement since the stunning collapse of the
company Sunday, reports the Sydney Morning Herald.

According to the Lalor brothers, they were concerned on the
misleading information on the company's collapse, including
their so-called contribution to the Perth miner's demise.

The brothers' comment came two days after the company's new
chairman, Neil Hamilton, said shareholders would "expect
answers" about Gwalia's previous management, and one day after
Ferrier Hodgson administrators confirmed that the Lalor
brothers' 20-year tenure would play an important part in its
investigation into the collapse.

They said they were as surprised with the "serious
deterioration" of the failed gold and tantalum miner's reserves
as anyone else. They will answer all inquiries pertaining to the
company upon their return to Australia.

The Lalors, who ran the company until April, said they were
"extremely disappointed and distressed at the decision to place
the company into administration" and "agree that a response
needs to be provided as to the deterioration in the gold ore
reserves which has led to the company's predicament".

"Contrary to wildly speculative comments, we have been overseas
on trips that have been scheduled for some time and we have both
been readily contactable," Peter Lalor said in a written
statement. "We have on those trips also represented the company
on occasion".

Peter Lalor, believed to be in the U.S. for a business trip,
said he had retained a "vast majority" of his shareholding while
Chris, who is on a family holiday in Europe, has sold his stock.

According to a final director's interest filed with the stock
exchange, Chris Lalor and associated interests held about
700,000 shares.

"We will readily assist the company and the administrators if
requested and look forward to the administrator's report into
how the company's fortunes deteriorated to this extent," Peter
Lalor said.

CONTACT:

Sons of Gwalia
Carmen Kiggins
Manager - Investor Relations
16 Parliament Place
West Perth, Western Australia, 6005
Telephone: 08 9263 5648
Facsimile: 08 9481 1271
Email: carmen.kiggins
Website: http://www1.sog.com.au/


TABLELANDS SAWMILLS: Members Meeting Slated for Sept. 28
--------------------------------------------------------
Notice is given that a final meeting of the members of the
company will be held at Suite 5, 32 Thesiger Court, Deakin ACT
on Tuesday, 28 September 2004 at 10:15 a.m.

AGENDA

(1) To receive an account showing how the winding up has been
conducted and the property of the company has been disposed of;

(2) To receive any explanation in relation to the winding up.

Dated this 31st day of August 2004

H. J. KAZAR
Liquidator
PO Box 211, Deakin West ACT 2600


TEAM NEVEREST: Issues Intended Dividend Notice
----------------------------------------------
A first and final dividend to ordinary unsecured creditors is to
be declared on 31 October 2004 for Team Neverest Pty Limited (In
Liquidation).

Creditors whose debts or claims have not already been admitted
are required on or before 21 September 2004 to formally prove
their debts or claims. If they do not, they will be excluded
from the benefit of the dividend.

M. F. COOPER
Liquidator
Frasers Insolvency Advisory
Level 9, 99 Elizabeth Street, Sydney NSW 2000


TONILA PTY: Schedules Members' Meeting on September 16
------------------------------------------------------
Notice is hereby given that the final meeting of the members of
Tonila Pty Limited (In Liquidation) will be held at the offices
of Wong & Mayes Level 16, 309 Kent Street, Sydney on the 16th
day of September, 2004 commencing at 12:00 noon.

AGENDA

To lay before the meeting the Liquidator's account showing how
the winding up has been conducted and the property of the
company has been disposed of and giving any necessary
explanations.

Dated this 18th day of August 2004.

PAUL R. CAMPBELL
Liquidator


TRIPFINDER LIMITED: Faces Winding Up Petition
---------------------------------------------
Notice is hereby given that at a general meeting of members of
Tripfinder Limited (In Liquidation) held on 16 August 2004, it
was resolved that the company be wound up voluntarily.

Dated this 17th day of August 2004.

STEPHEN BRENNAN
Liquidator
Senatore Brennan Rashid
Level 7, 28 University Avenue,
Canberra ACT 2601
Telephone: (02) 6214 6700,
Facsimile: (02) 6214


YPV ENTERPRISES: To Declare First and Final Dividend
----------------------------------------------------
In accordance with the terms of the Deed of Company Arrangement,
a first and final dividend to priority and unsecured creditors
is to be declared on 1 October 2004 for YPV Enterprises Pty
Limited.

Creditors whose debts or claims have not already been admitted,
are required on or before 24 September 2004 to formally prove
their debts or claims. If they do not, they will be excluded
from the benefit of the dividend.

Dated this 17th day of August 2004

NEIL G. SINGLETON
Joint and Several Deed Administrator
SimsPartners
Chartered Accountants
Level 24, Australia Square, 264 George Street,
Sydney NSW 2000


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


HAYWOOD INVESTMENT: Notes Unusual Price, Volume Movements
---------------------------------------------------------
The Stock Exchange has received a message from Haywood
Investments Limited, which is reproduced as follows:

"This statement is made at the request of The Stock Exchange of
Hong Kong Limited.

We have noted the price fluctuation and the increases in the
trading volume of the Shares of the Company recently and wish to
state that we are not aware of any reasons for such price
fluctuation and increases in the trading volume.

We 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 Haywood Investments Limited,
the directors of which individually and jointly accept
responsibility for the accuracy of this statement.

For and on behalf of
Haywood Investments Limited

Mr. Phang Yul Cher Yeow
Director


HSBC CHINA: 1H Net Loss Swells to US$233K
-----------------------------------------
According to Infocast News, HSBC China Fund Limited posted a net
loss of US$233,312 for the first half of 2004, compared to a net
loss of US$209,635 for the same period of 2003. Loss per share
was US$0.0096. No dividend was declared.  

To view the financial result, click on:
http://bankrupt.com/misc/TCRAP_HSBCCHINA090304.pdf


MAK KEE: Sets Members' and Creditors' Annual Meetings
-----------------------------------------------------
Pursuant to Section 247 of the Companies Ordinance (Chapter 32),
annual meetings of the Members and Creditors of Mak Kee Limited
will be held at 2/F, Wing Yee Commercial Building, 5 Wing Kut
Street, Central, HK on 17th August 2004 at the times listed
below for the purpose of laying before the meeting by the Joint
and Several Liquidators an account of their acts and dealings
and of the conduct of the winding-up during the preceding year.

Time of Meeting of Members: 2:30 pm
Time of Meeting of Creditors: 3:30 pm

Lau Siu Hung
Ng Chun Kong
Joint and Several Liquidators

This announcement is dated September 1, 2004.


MANHOKO LIMITED: To Hold Annual Meetings September 30
-----------------------------------------------------
Notice is hereby given pursuant to Section 247 of the Companies
Ordinance (Chapter 32) that an Annual General Meeting of Members
of Manhoko Limited will be held at 34th Floor, The Lee Gardens,
33 Hysan Avenue, Causeway Bay, Hong Kong on 30 September 2004 at
3:45 p.m. to be followed by an Annual Meeting of Creditors at
4:30 p.m.

The meeting will be conducted for the purposes of having an
account laid before the meetings by the liquidators showing the
manner in which the winding up of the company has been conducted
and the property of the company disposed of, and of hearing any
explanations that may be given by the liquidators.

A member or creditor entitled to attend and vote at either of
the above meetings may appoint a proxy to attend and vote
instead of him.  A proxy need not be a member or creditor of the
company.

Proxies in the prescribed forms for both meetings must be lodged
at 34th Floor, The Lee Gardens, 33 Hysan Avenue, Causeway Bay,
Hong Kong not later than 4:00 p.m. of the day before the holding
of the meetings.

Kenneth G Morrison
Joint and Several Liquidator

This announcement is dated September 3, 2004.


NEWFAIR CORPORATION: Court Issues Winding Up Petition
-----------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Newfair Corporation Limited by the High Court of Hong Kong was,
on the 27th day of August, 2004, presented to the said Court by
Wong Hang of Room 814, Wah Kwong House, Wah Fu Estate, Hong
Kong.

The said petition will be heard before the Court at 9:30 a.m. on
the 13th of October 2004.

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

Ms. Ada Chau Ming Wai
For Director of Legal Aid
34th Floor, Hopewell Centre
183 Queen's Road East, Wanchai
Hong Kong

Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention to do so.  The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the above named not
later than six o'clock in the afternoon of the 12th day of
October 2004.


SWANEE ENGINEERING: Winding Up Hearing Slated October 6
-------------------------------------------------------
Notice is given that a Petition for the Winding up of Swanee
Engineering Limited by the High Court of Hong Kong Special
Administrative Region was, on the 24th day of August 2004,
presented to the said Court by BBC Cable Engineering Company
Limited whose registered office is situated at Unite 1-2, 18th
Floor, Oterprise Square, 26 Nathan Road, Kowloon, Hong Kong.  

The said Petition will be heard before the Court at 9:30 am on
the 6th day of October 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.

Vincent T. K. Cheung, Yap & Co.
Solicitors for the Petitioner
15/F., Alexandra House
16-20 Chater Road
Central, Hong Kong

Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention to do so.  The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the above named not
later than six o'clock in the afternoon of the 5th day of
October 2004.


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


BANK PERMATA: Winning Bidder Must Support API, Says BI Governor
---------------------------------------------------------------
Bank Indonesia governor Burhanuddin Abdullah last Wednesday said
that it does not matter to the central bank who wins the tender
for state-owned PT Bank Permata as long as it supports the
implementation of Indonesia's banking architecture (API),
reports the Antara news agency.

Mr. Burhanuddin's comments followed the disclosure Tuesday of
the five short-listed bidders for a 51-percent stake in Permata.

The five were the Commerce, MayBank, Panin, and Standard
Chartered Bank consortiums, PT Astra Internasional and United
Overseas Bank Limited.

According to Mr. Burhanuddin, the central bank will not make an
evaluation on the prospective Permata investors until after the
government announces a preferred bidder, noting that the proper
test scheduled would cover an evaluation like the investor's
business plan and its program, which will be realized in
connection with the API.

CONTACT:

PT Bank Permata Tbk.
Gedung Bank Bali
Jalan Jendral Sudirman Kav. 27
Jakarta 12920
Telephone: 021-52377899 (hunting)
Fax: 021-5237206/8


PERTAMINA: To Seek New Cepu Block Partner
-----------------------------------------
State-owned oil and gas company PT Pertamina will be seeking a
new partner in exploiting the Cepu block after its current
contract with US-based Exxon Mobil Corp. expires in 2010,
reports Dow Jones, citing Pertamina president director Widya
Purnama.

The announcement comes more than a week after Pertamina decided
not to extend its contract with Exxon Mobil to jointly operate
the Cepu block, located in Central Java.

According to the Pertamina executive on Thursday, the company is
planning to invite big oil firms to operate the Cepu oil field.
He, however, said Exxon Mobil can seek a new Cepu contract if it
agrees to new government-set requirements.

"The requirements, off course, should benefit Pertamina, the
nation and, in the end, the partner," he said.

The Cepu field has proven reserves of 600 million barrels, and
perhaps upward of 1 billion barrels, which could make it the
largest discovery in Indonesia since the 1960s.

CONTACT:

PT Pertamina Tbk
Jalan Merdeka
Timur No. 1 A
Jakarta 10110
Tel: (62)(21)3815111
Fax: 3846865/ 3843882
www.pertamina.com


PERTAMINA: Names PR Chief to Head HK-based Unit
-----------------------------------------------
Petral, PT Pertamina's Hong Kong-based subsidiary for crude and
oil product trading, has a new chief in the person of Hanung
Budya, the Indonesian state-owned oil and gas company's head of
public relations.

"I signed the appointment letter today," Pertamina president
director Widya Purnama said on Thursday.

According to a report by the Antara news agency, Mr. Hanung will
replace Ari Soemarno, who has been appointed director of
marketing and business for Pertamina.

Mr. Purnama expressed hopes that with Mr. Hanung at the helm,
Petral's performance would show improvement. He, however, said
that he would readily replace Mr. Hanung should he fail to
perform well.

The president director said he wants Petral to be self-
sufficient and able to expand the market wider outside
Pertamina.


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


KAWASAKI HEAVY: To Raise JPY24.9Bln in Euroyen CBs
---------------------------------------------------
In line with measures to improve its balance sheet, Kawasaki
Heavy Industries Limited is considering issuing euroyen
convertible bonds (CBs) worth JPY24.9 billion (US$228 million),
Reuters reports.

The struggling heavy machinery maker will offer zero-coupon CBs,
maturing on September 30, 2011, to investors at 102.5 percent
payable by September 21.

The proceeds of the proposed bond issuance will be used to
support capital spending and refinance long-term debts.

Kawasaki Heavy has issued JPY25 billion of euroyen CBs in
December 2003, which will mature in 2010.

CONTACT:

Kawasaki Heavy Industries, Ltd.
Kobe Crystal Tower, 1-3,
Higashikawasaki-cho 1-chome, Chuo-ku
Kobe, 650-8680, Japan
Phone: +81-78-371-9530
Fax: +81-78-371-9568
Website: http://www.khi.co.jp


MITSUBISHI FUSO: Mitsubishi Group Staff To Help With Recalls
------------------------------------------------------------
Some 68 Mitsubishi Group employees are set to help Mitsubishi
Fuso Truck and Bus Corporation with its recall measures, Asia
Pulse says.

Upon the request of the troubled automaker, Mitsubishi Heavy
Industries Limited and Shin Caterpillar Mitsubishi Limited will
deploy 51 and 17 workers, respectively, to assist 36 nationwide
dealers with parts replacement and safety checks.

Mitsubishi Fuso, which has already reported 11 recalls to the
transport ministry since last spring, is also boosting the
production of replacement parts at its main factory in Kawasaki,
Kanagawa Prefecture, at a cost of about JPY1 billion (US$9.2
million).

CONTACT:

Mitsubishi Fuso Truck of America, Inc.
2015 Center Square Rd.
Bridgeport, NJ 08085 (Map)
Phone: 856-467-4500
Fax: 856-467-4695
Web site: www.mitfuso.com


SHOWA LEASING: Shinsei Bank Mulls Stake Buy
-------------------------------------------
In order to boost its capital, Shinsei Bank is planning to
acquire a majority stake in Showa Leasing Company this year,
reports The Japan Times.

Shinsei, successor of the Long-Term Credit Bank of Japan, aims
to take control of Showa by buying at least 51 percent of its
shares, which will be issued through a private placement.

Aside from a plan to list Showa on stock exchanges, Shinsei
proposed to infuse fresh funds into the leasing firm to enhance
its financial standing and creditworthiness, allowing it to
raise funds from the financial market.

The Resona Group, which holds 14.5 percent of Showa, plans to
continue investing in the leasing agency even after it becomes a
subsidiary of Shinsei bank.

CONTACT:

Showa Leasing Co. Ltd.
3-12, Yotsuya
Shinjuku-Ku, Tokyo, 160-0004
Phone: 0332263931
Fax: 0332263990


SOJITZ HOLDINGS: To Announce New Business Plan
----------------------------------------------
Sojitz Holdings Corporation will unveil a new business program
this week, Bloomberg reports.

The decision was made following a report of the firm's plan to
request more than US$3.2 billion in capital injection from
creditors UBS AG and UFJ Holdings Incorporated to cover
reorganization costs.

According to the Nihon Keizai newspaper, Tokyo-based Sojitz will
seek financial assistance from its primary creditors to
replenish funds depleted from a write-off of latent losses and
from winding up unprofitable operations. In July, the firm has
declared it would ask its lenders to cover about JPY250 billion
of the costs.

Sojitz, formerly known as Nissho Iwai-Nichimen Holdings
Corporation, is forecasted to book a hefty JPY400 billion net
loss for the current fiscal year ending March 31.

CONTACT:

Sojitz Holdings Corporation
1-23,Shiba 4-chome, Minato-ku
Tokyo, 108-8405, Japan
Phone: +81-3-5446-111
Fax: +81-3-5446-1365
Website: http://www.sojitz.com


SOJITZ HOLDINGS: Unit Dissolves NEPCO
-------------------------------------
Sojitz Holdings Corporation (formerly known as Nissho Iwai-
Nichimen Holdings Corporation announced that its wholly owned
unit, Nichimen Corporation (Nichimen, determined to dissolve its
consolidated subsidiary, NEPCO S.A. (NEPCO).

(1) Outline of NEPCO S.A.

(a) Headquarters: Parc d'Activities de Launay 14130 PONT-
L'EVEQUE FRANCE

(b) Representative: Naomitsu Yoshihara

(c) Business: Manufacturing and sales of plastic products

(d) Established: May 1, 1990

(e) Capital: Euro 14,025 thousand

(f) Major shareholders: PLANESA S.A. (Nichimen Corporation 75%,
Nichimen Europe PLC 25%) 57.07%
Nichimen Corporation 31.30%
Nichimen Europe B.V. 3.48%

(2) Reason for dissolution

Aiming at quick realization of business integration effects,
Nichimen and Nissho Iwai Corporation, which are two major
subsidiaries of Sojitz Holdings Corporation, accelerate
"selection and concentration" in their businesses, and implement
business restructuring.

Due to the intensifying competition with import products such as
Chinese products and decreasing demand for CD case, which is its
main product item, NEPCO's business performance has deteriorated
greatly with little expectation of future recovery. As part of
the effort to accelerate withdrawal from unprofitable business,
Nichimen decided to dissolve the company.

(3) Prospects

The Liquidation will be completed by December 2003 and the
liquidation loss is expected to be approximately JPY1.5 billion.
However, there is no change in the Sojitz's earnings forecast
for the fiscal year ending March 31,2004.


UFJ HOLDINGS: Shinsei Bank Eyes Aplus
-------------------------------------
UFJ Holdings Incorporated is currently negotiating to sell its
consumer credit unit Aplus Company to Japan's Shinsei Bank,
Reuters relates.

Although no accord has been reached yet, financial sources
speculated that Shinsei had outbid Britain's HSBC Holdings Plc
to acquire UFJ's 40-percent stake in Aplus.

HSBC and Shinsei have been in competition for the Aplus stake in
a bid to tap into the US$96 billion consumer finance industry.

Aplus, which has an annual turnover of JPY1.72 trillion (US$15.7
billion), expects to reap JPY100 billion from the takeover in
addition to the JPY100 billion financial aid to be provided by
UFJ.

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
=========


HYNIX SEMICONDUCTOR: To Support DDR2 Ram in Indian Market
---------------------------------------------------------
As DDR2 RAM sampling has already been done for major
multinational companies (MNCs) and original equipment
manufacturers (OEMs), South Korean chip maker Hynix
Semiconductor is all set to support the speedier memory standard
in the Indian market, reports the Channel Times.

BK Kim, Hynix's general manager for the Indian subcontinent,
said "we are supporting these new products for global branded
PC-makers like IBM, HP, Dell and Apple."

Meanwhile, the chip maker, in a strategic move to better exploit
the Indian market, is planning to move its Delhi office to
Bangalore to pay OEMs and MNCs more attention, as these sectors
have a large scope for growth, the Hynix official said.

Hynix, has a very focused approach to the Indian market, where
it sees a huge potential. "To achieve our targets, we ensure
technical interaction with each customer, conduct roadshows and
executive-level visits. For the channel, we organize roadshows
and provide technical education, which cover small and medium
cities, twice a year," said Mr. Kim

"The next six months will be the hottest season for this market.
To increase or maintain our market share, we will increase local
manufacturing volume through qualified module house and develop
new applications and customers." He added.

Hynix will be organizing roadshows in Delhi, Mumbai, Bangalore
and Chennai next month.

CONTACT:

HSI(Hynix Semiconductor Inc.)
891 Daechi-dong, Kangnam-gu,
Seoul, Korea
Tel: 82-2-3459-3470   
Fax: 82-2-3459-5987/8
http://www.hynix.com


KOOOKMIN BANK: Given A Month To Restate Earnings
------------------------------------------------
Beleaguered Kookmin Bank has been given a month by the Financial
Supervisory Commission to restate its 2003 and 2004 earnings
after the Financial Supervisory Service (FSS) found the bank
avoided taxes by overstating last year's losses, reports
Reuters.

Since Kookmin, South Korea's largest lender, had booked the
expected additional losses in the first half of this year, it
will have to change this year's books as well.

In a filing to the stock exchange, the bank said its pretax loss
for 2003 would widen by US$209 million, while pretax profits for
the first half of this year would rise by the same margin.

Kookmin posted a net loss of KRW753.3 billion last year on a
pretax loss of KRW1.14 trillion. For the first half of 2004, it
had a net profit of KRW307.6 billion on KRW447.4 billion of
pretax profits.

CONTACT:

Kookmin Bank
9-1 Namdaemoonro 2-ga
Chung-gu, Seoul 100-092
Korea (South)
Tel: +82 2 317 2114
Tel: +82 2 776 5637


PAN OCEAN: Creditors To Pick Preferred Bidder This Week
-------------------------------------------------------
The creditors of Pan Ocean Shipping Co. are set to choose a
preferred bidder for the beleaguered shipping firm early this
week, reports Yonhap News, citing the Korea Development Bank
(KDB).

"After reviewing bids offered by seven prospective domestic and
foreign buyers, creditors may choose the preferred bidder as
early as next Tuesday," said the bank last week.

According to the state-run bank, which is also Pan Ocean's main
creditor, the creditors will also choose a reserve bidder in
case talks with the preferred bidder break down.

The creditors, who intend to complete the sale by mid-October,
will be choosing among a list of bidders that include Korea Line
Corp., Dongkuk Steel Mill Co. and an Israeli shipping company,
KDB said.

Pan Ocean had been under creditor supervision since 1987 before
being put under court receivership. Creditors currently control
a 99.64 percent stake in the firm, with KDB holding 64.45
percent, 10.42 percent by Korea Exchange Bank, 6.32 percent by
Woori Bank and 3.55 percent by Chohung Bank.

A year after emerging from court protection in 2002, the firm
posted a net profit of KRW43.1 billion (US$37.4 million) on
sales of KRW1.98 trillion ($1.72 billion).

CONTACT:

Pan Ocean Shipping Co. Ltd.
51-1, Namchang-Dong, Jung-Ku,
Seoul 100-778, Korea


SSANGYONG MOTORS: To Cut Interest Rates Along With GM Daewoo
------------------------------------------------------------
In order to boost their domestic sales, Ssangyong Motor Co. and
GM Daewoo Auto & Technology Co. will be cutting interest rates
on their long-term purchase programs for their cars, reports The
Korea Herald.

Ssangyong, South Korea's fourth largest carmaker, will cut the
rate on its 36-month purchase plan this month by 2 percent to
4.9 percent. Apart from this, it will also offer free safety
features such as airbags and anti-lock braking systems to new
buyers this month.

GM Daewoo, on the other hand, said it will offer interest-free
financing on its 36-month purchase plans to those who register
this month. The incentive will be applied to its entire product
lineup, the Lacetti compact and Magnus midsize included. The
carmaker also plans to slash the interest rate on its 60-month
installment plans from the current 10.8 percent to 5 percent.

The domestic sales of Ssangyong, which mainly manufactures sport
utility vehicles such as the Korando and Rodius, also fell 12
percent on-year to 7,302 last month. The same is true with GM
Daewoo, which only sold 7,607 cars domestically in August, an
18-percent drop from a year earlier.

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
===============


AKTIF LIFESTYLE: Issues Unit Disposal Status Report
---------------------------------------------------
Aktif Lifestyle Corporation Berhad refers to its announcement
dated 2 August 2004 pursuant to Practice Note No. 1/2001 of the
Listing Requirements of the Bursa Malaysia Securities Berhad.

The Securities Commission has approved the Proposed Disposal of
Aktif Lifestyle Stores Sdn Bhd (ALS) to CP Properties Sdn Bhd
(CP) [Proposed Disposal].

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

The Proposed Disposal was completed on 30 July 2004.

The Company is currently waiting for CP to complete the
necessary documentation with RHB Bank Berhad and OCBC Bank
(Malaysia) Berhad for the release of the corporate guarantees
given by Aktif.

CONTACT:

Aktif Lifestyle Corporation Berhad
Level 10, Grand Seasons Avenue, No. 72,
Jalan Pahang, 53000 Kuala Lumpur  
Malaysia
Telephone  (60) 3 2693 1828
Fax  (60) 3 2691 2798

This announcement is dated 1 September 2004.


AOKAM PERDANA: Unveils Share Capital Reduction Plan
---------------------------------------------------
Further to Aokam Perdana Berhad's announcement dated 3 August
2004 made pursuant to Practice Note No. 4/2001 (PN4/2001) of the
Bursa Malaysia Securities Berhad, the Company announced that it
had on 11 August 2004, submitted to the High Court of Malaya,
the proposal to reduce the share capital of the Company in
accordance with Section 64 of the Companies Act 1965.

The Company is awaiting the Order from the High Court for
submission of the same to the Companies Commission of Malaysia.

CONTACT:

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


AOKAM PERDANA: Issues Default Status Notice
-------------------------------------------
Aokam Perdana Berhad, Aokam Industries Sdn Bhd and Pembangunan
Papan Lapis (Sabah) Sdn Bhd 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.

Aokam Perdana is awaiting 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.


CONSOLIDATED FARMS: Releases Monthly Status Update
--------------------------------------------------
The Board of Consolidated Farms Berhad (Confarm) announced the
following:

1. Monthly Status Announcement: Practice Note No. 1/2001

The Confarm Group has been unable to pay the amount of principal
and/or interest in respect of its credit facilities as at 31
August 2004 as set out in Table 1
(http://bankrupt.com/misc/tcrap_consolidatedfarms090304.doc)

There has been no material change in Confarm's status since the
last announcement on 2 August 2004.

2. Monthly Status Announcement: Practice Note No. 4/2001

There has been no material change in the status of the Company's
plan to regularize its financial condition since the last
announcement on 2 August 2004.

CONTACT:

Consolidated Farms Berhad
24-1 Jalan 24/70A,
Desa Sri Hartamas,
50480 Kuala Lumpur
Telephone: 03-23001199
Fax: 03-23002299

This announcement is dated 2 September 2004.


CSM CORPORATION: Discloses Monthly Status Update
------------------------------------------------
Pursuant to Practice Note No. 4/2001 (PN4/2001) of the Listing
Requirements of the Bursa Malaysia Securities Berhad, CSM
Corporation Berhad announced:

a) that Bank Negara Malaysia (BNM) has no objections to the
issuance by Dutarama of irredeemable convertible unsecured loan
stocks in Dutarama to non-resident creditors of CSM as
settlement of debts pursuant to the Proposed Scheme; and

b) that BNM has approved the issuance by Dutarama of warrants in
Dutarama to non-resident shareholders pursuant to the Proposed
Scheme, there is no new development on the Company's plan to
regularize its financial condition since the last monthly status
announcement dated 2 August 2004.

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

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

Contact:

CSM Corporation Berhad
Suite 8.2, 8th Floor
Menara CSM, Jalan Semangat
46100 Petaling Jaya
Telephone: 03-7958888
Fax: 03-7953707
Website: www.csm.com.my

This announcement is dated 1 September 2004.


FABER GROUP: Unveils Regularization Scheme
------------------------------------------
In compliance with Practice Note No. 4/2001 (PN4) of the Listing
Requirements of 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 the Bursa Securities, Faber Group Berhad
announced that since the last announcement on 2 August 2004, the
following have taken place:

1. On 13 August 2004, a Meeting of the Holders of All Series of
Zero Coupon Redeemable Convertible Secured Bonds due 2005 was
held, in which the Bondholders approved the proposed amendment
to the definition of Implementation Date as defined in the
Restructuring Deed dated 22 December 2003.

2. 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, FGB to
provide written confirmation to the SC that the proposed
disposal of Inter-Heritage (M) Sdn Bhd (IHSB) has been completed
prior to the implementation of the Proposed Restructuring
Scheme, FGB had at an Extraordinary General Meeting held on 30
August 2004 obtained the approval from its shareholders on the
proposed disposal by Faber Hotels Holdings Sdn Bhd, a wholly-
owned subsidiary of FGB, of 10,512,316 Class A ordinary shares
of RM1.00 each and 9,779,215 Convertible Redeemable Cumulative
Preference Shares of RM1.00 each in IHSB representing 49% of the
total equity interest of IHSB, to United Engineers (Malaysia)
Berhad, for a total cash consideration of RM1.00 each.

CONTACT:

Faber Group Berhad
20th Floor
Menara 2 Faber Towers,
Jalan Desa Bahagia
Taman Desa, Off Jalan Klang Lama
58100 Kuala Lumpur
Telephone: 03-76282888
Fax: 03-76282828

This announcement is dated 1 September 2004.


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

CONTACT:

Foreswood Group Berhad
Level 4, B59
Taman Sri Sarawak Mall
Jalan Tunku Abdul Rahman
93100 Kuching , Sarawak
Malaysia
Tel no: 6082-428626
Fax no: 6082-423626

This announcement is dated 1 September 2004.


GOLDEN FRONTIER: Issues Notice of Debt Buy Back
-----------------------------------------------
Golden Frontier Berhad disclosed to the Bursa Malaysia
Securities Berhad the details of its shares buy back on
September 2, 2004.

Date of buy back: 02/09/2004

Description of shares purchased:  Ordinary Shares of RM1.00 Each

Total number of shares purchased (units): 6,000

Minimum price paid for each share purchased (RM): 0.695

Maximum price paid for each share purchased (RM): 0.700

Total consideration paid (RM): 4,206.72

Number of shares purchased retained in treasury (units): 6,000

Number of shares purchased which are proposed to be cancelled
(units): 0

Cumulative net outstanding treasury shares as at to-date
(units): 1,036,500

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

CONTACT:

Golden Frontier Berhad
No 11 Lorong Kinta
10400 Penang,
Malaysia
Tel: +60 4 226 2226
Tel: +60 4 228 2890


GULA PERAK: Grants Listing of 10,200 Ordinary Shares
----------------------------------------------------
Gula Perak Berhad's additional 10,200 new ordinary shares of
RM1.00 each issued pursuant to the conversion of 10,200
irredeemable convertible secured loans stocks into 10,200 new
ordinary shares will be granted listing and quotation with
effect from 9 a.m., Monday, 6 September 2004.

CONTACT:

Gula Perak Berhad
218 Jalan Ipoh
Kuala Lumpur, 51200
MALAYSIA
+60 3 4044 2828
+60 3 4044 6688


INNOVEST BERHAD: White Knight Participates in Restructuring
-----------------------------------------------------------
On behalf of the Board of Directors of Innovest Berhad,
AmMerchant Bank Berhad (AmMerchant Bank), announced that the
Company had on 2 September 2004, entered into an Agreement with
Ir. Azlin Azrai Bin Lan Hawari and Mohd Kamal Bin Omar
(collectively the White Knight) and Intraline Resources Sdn Bhd
(IRSB) to undertake a restructuring scheme to regularize
Innovest's financial condition.

SALIENT TERMS OF THE AGREEMENT

The Agreement sets out the intention for Innovest, the White
Knight and IRSB to participate in a restructuring scheme of
Innovest (Proposal). The Proposal shall inter-alia involve the
following:

i) The proposed incorporation or setting up of a newly
incorporated company (Newco);

ii) The proposed exchange/swap, at par value on the basis of two
(2) ordinary shares of RM0.50 each in Newco for every thirty
three (33) ordinary shares of RM1.00 each in Innovest, held by
the existing shareholders of Innovest;

iii) The proposed acquisition by the Newco of the entire issued
and paid-up share capital of IRSB, for a consideration to be
determined to be satisfied by the issuance of securities in
Newco at par (the Proposed Acquisition);

iv) The proposed application to the Securities Commission (SC)
by the vendors of IRSB for a waiver exempting the vendors of
IRSB from the obligation of making a mandatory general offer for
the remaining shares in Newco not already owned by them upon
completion of the Proposed Acquisition pursuant to the
provisions of the Malaysian Code on Takeovers and Mergers 1998;

v) The proposed restricted offer for sale by the vendors of IRSB
in respect of Newco Shares;

vi) The proposed application for the admission of Newco to the
Official List of the Bursa Malaysia Securities Berhad (Bursa
Securities); and

vii) The proposed disposal of the entire shareholding in
Innovest by Newco.

The Proposed Acquisition will involve the acquisition of the
entire equity share capital of IRSB from the White Knight.
IRSB was incorporated in Malaysia and has an authorized share
capital and paid-up share capital of RM5.0 million and RM3.5
million respectively. IRSB is principally involved in the
provision of professional engineering, project management,
procurement, fabrication, construction and commissioning
activities in the oil and gas, marine, building and
infrastructure industries.

CONDITIONS OF THE AGREEMENT

The salient conditions to the Agreement involves inter-alia the
following:

3.1 Finalization of Proposal

The finalization of the Proposal satisfactory to both the White
Knight and Innovest.

3.2 Financial and Legal Due Diligence

The conclusion to the reasonable satisfaction of Innovest of a
financial and legal due diligence on IRSB and the conclusion to
the reasonable satisfaction of the White Knight of a financial
and legal due diligence on Innovest.

3.3 Extension of Time

An extension of time having been obtained from Bursa Securities
for Innovest to submit its plans to regularize its financial
position or to obtain the necessary approvals for implementation
of its plans to regularize its financial position.

DIRECTORS' AND SUBSTANTIAL SHAREHOLDERS' INTERESTS

To the best of the knowledge and belief of the Board, none of
the Directors, substantial shareholders or persons connected
with them has any interest, direct or indirect, in the Proposed
Acquisition.

INSPECTION OF DOCUMENT

The Agreement will be available for inspection at the Company's
registered office during normal business hours for a period of
two (2) months from the date of this announcement.

ANNOUNCEMENT UPON FINALISATION OF PROPOSAL

A detailed announcement will be made upon finalization of the
terms of the Proposal in due course.

APPOINTMENT OF ADVISER

AmMerchant Bank is appointed as the Adviser for the
abovementioned Proposal.

CONTACT:

Innovest Holdings Berhad
Suite 9B.2, Level 9B
Wisma E & C
No. 2 Lorong Dungun Kiri
Damansara Heights
50490 Kuala Lumpur
Telephone: 03-2533373
Fax: 03-2543733

This announcement is dated 2 September 2004.


INTEGRATED RUBBER: Implements Restructuring Scheme
--------------------------------------------------
The Board of Directors of Integrated Rubber Corporation Berhad
(IRCB) announced that the Restructuring Scheme to regularize
IRCB's financial condition is currently being implemented.

The completion of the Restructuring Scheme is pending the
listing of the IRCB Shares on 6 September 2004, subject to the
approval of Bursa Malaysia Securities Berhad.

This announcement is dated 1 September 2004.


JASATERA BERHAD: In Talks With Bank Lenders
-------------------------------------------
Reference is made to the announcement dated 29 June 2004 and
paragraph 4.1(b) of the Practice Note No. 4/2001 (PN4/2001)
wherein Jasatera Berhad is required to announce the status of
its financial position on monthly basis until further notice
from the Bursa Malaysia Securities Berhad.

Jasatera announced that it is still in the midst of preparing
the necessary documents to obtain 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


KSU HOLDINGS: Updates Regularization Scheme
-------------------------------------------
Further to KSU Holdings Berhad's announcements dated 20 August
2003, 10 September 2003, 9 October 2003, 10 November 2003, 5
December 2003, 2 January 2004, 4 February 2004, 1 March 2004, 1
April 2004, 5 May 2004, 1 June 2004, 5 July 2004 and 5 August
2004, the Company wishes to inform that as of to date, there has
been no further development on its plan to regularize its
financial condition.


MUHIBBAH ENGINEERING: Unit Appoints Liquidator
----------------------------------------------
The Board of Directors of Muhibbah Engineering (M) Berhad
announced that Nam Fatt-Muhibbah Joint Venture Sdn. Bhd.
(NFMJV), an associate company of Muhibbah has been placed under
Members' Voluntary Liquidation pursuant to the passing of a
special resolution by its members at an Extraordinary General
Meeting held on 30 August 2004.

NFMJV was incorporated on 27 September 1985. It was principally
involved in construction of microwave hill stations (building
and roadworks). Since 1998 NFMJV has not involved in any
revenue-producing activity.

In connection with the above, Mr Ooi Chee Kun and Ms Khoo Pek
Ling from Messrs Folks Corporate Service Sdn. Bhd. have been
appointed as Liquidators of NFMJV.

The Members' Voluntary Liquidation of NFMJV is not expected to
have a material effect on the earnings or net tangible assets of
Muhibbah for the financial year ending 31 December 2004.

None of the Directors or substantial shareholders of Muhibbah or
persons connected to them has any interest, direct or indirect,
in the voluntary liquidation.

CONTACT:

Muhibbah Engineering (M) Berhad
Lot 586, 2nd Mile
Jalan Batu Tiga Lama
41300 Klang , Selangor
Malaysia
Web address (URL) : http://www.muhibbah.com/
Tel no: 603-3424322/4323
Fax no: 603-3424327

This announcement is dated 1 September 2004.


MYCOM BERHAD: Completes Purchase Agreement
------------------------------------------
Mycom Berhad refers to the previous announcement dated 7 June
2004 and announced that the disposal of Sentul Murni Sdn Bhd
(SMSB) under the Sale and Purchase Agreement dated 18 July 2003
has been completed effective 1 September 2004. SMSB and its
wholly owned subsidiary, Sentul Murni Management Sdn Bhd have
ceased to be wholly owned subsidiaries of Mycom Berhad with
effect from the same date.

CONTACT:

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

This announcement is dated 2 September 2004.


MYCOM BERHAD: Reschedules Court Hearing to October 18
-----------------------------------------------------
Pursuant to Practice Note No. 4/2001 (PN 4/2001) of the Listing
Requirements of the Bursa Malaysia Securities Berhad, the Board
of Directors of Mycom Berhad announced that the High Court
hearing in respect of the Scheme of Arrangement has now been
postponed to 18 October 2004. There is no other major
development to the Proposed Restructuring Scheme of the Company
as at the date of this announcement.


NAIM INDAH: Issues Additional 113,757,596 Ordinary Shares
---------------------------------------------------------
Naim Indah Corporation Berhad's additional 113,757,596 new
ordinary shares of RM1.00 each arising from the conversion of
RM113,757,596 nominal value of irredeemable convertible
unsecured loan stocks into 113,757,596 new ordinary shares will
be granted listing and quotation with effect from 9 a.m.,
Monday, 6 September 2004.

CONTACT:

Naim Indah Corporation Berhad
Jalan Kampar Off Jalan Tun Razak
50400 Kuala Lumpur
MALAYSIA
Phone: +60 3 4043 9411


NAM FATT: Unit Enters Voluntary Liquidation
-------------------------------------------
Nam Fatt Corporation Berhad (Nam Fatt) announced that its unit
Nam Fatt-Muhibbah Joint Venture Sdn Bhd (NFMJV) has been placed
under members' voluntary liquidation.

NFMJV, a 51% owned subsidiary of the company, was principally
involved in construction of microwave hill stations (buildings &
roadworks). Since 1998 NFMJV has not been involved in any
revenue-producing activity.

In connection with the above, Mr. Ooi Chee Kun and Ms. Khoo Pek
Ling have been appointed as Liquidators of NFMJV.

The voluntary liquidation of NFMJV is not expected to have a
material effect on the earnings or net tangible assets of Nam
Fatt for the financial year ending 31 December 2004.

None of the directors or substantial shareholders of Nam Fatt or
persons connected to them has any interest, direct or indirect,
in the voluntary liquidation.

CONTACT:

Nam Fatt Corporation Berhad
40B Persiaran Sultan Ibrahim
41300 Klang, Selangor Darul Ehsan 41300
Malaysia
Tel: +60 3342 0766
Tel: +60 3342 7830

This announcement is dated 1 September 2004.


NAUTICALINK BERHAD: Submits Regularization Scheme
-------------------------------------------------
In compliance with Practice Note No. 4/2001 (PN4) of the Listing
Requirements of the Bursa Malaysia Securities Berhad, the Board
of Directors of Nauticalink Berhad (NB) announced that its plan
to regularize its financial position based on the Group's
Corporate Restructuring Scheme has been approved by the
Securities Commission under Section 32(5) of the Securities
Commission Act.

Currently, the Company is working towards implementing the
approved Scheme.


TECHVENTURE BERHAD: Details Debt Restructuring Scheme
-----------------------------------------------------
As announced earlier on the extension of the debt-restructuring
scheme, Techventure Berhad is proposing the issuance of loan
stocks. This extension essentially entails the conversion of the
scheme debts to 2 types of loan stocks. Redeemable Convertible
Secured Loan Stocks and Redeemable Unsecured Loan Stocks. The
convertibility features of the loan stocks enhance the proposal
for the lenders.

Techven announced that on 30 August 2004, two subsidiaries of
the Company, Insulflex Sdn Bhd and Kotak Kajan Industries Sdn
Bhd, received writs of summons instituted by AmBank Berhad for
claims of RM340,355.26 plus interest and RM512,140.63 plus
interest respectively pertaining to outstanding overdraft and
trade line facilities (Credit Facilities) granted to the
subsidiaries. The Company has been included in the writs as
second defendant by virtue of being a corporate guarantor for
both subsidiaries in respect of the Credit Facilities.

The Credit Facilities form part of the debts of the Techventure
Group that are being restructured under a proposed debt
restructuring scheme, the concept paper of which was announced
on 4 June 2004. Ernst & Young, the consultants retained by the
Company to undertake the debt restructuring exercise, are in the
process of finalizing the details of the scheme, which will be
announced in due course. In the mean time, the Company is in
talks with Ambank Berhad to resolve the claims.

CONTACT:

Techventure Berhad
69B, Jalan SS 22/19
Damansara Jaya
47400 Petaling Jaya , Selangor
Malaysia
Tel no: 603-7180115
Fax no: 603-7193533

This announcement is dated 2 September 2004.


UNITED CHEMICAL: To Complete Investigative Audit Report
-------------------------------------------------------
In respect of the Proposed Restructuring of United Chemical
Industries Berhad (UCI), the Company had on 26 August 2004
received the approval from the Securities Commission (SC) to
complete and submit the investigative audit report on the past
losses of the UCI Group to the commission by 24 November 2004.

There is no other major development to the Proposed
Restructuring of the Company.

CONTACT:

United Chemical Industries Berhad
10th Floor, Wisma MCA
Jalan Ampang
50450 Kuala Lumpur, WP
Malasia
Tel: 603-2619055
Fax: 603-2610502

This announcement is dated 1 September 2004.


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


BALABAC RESOURCES: Postpones Annual Stockholders' Meeting
---------------------------------------------------------
Balabac Resources & Holdings Co. Inc. announced that at the
Board of Directors Meeting held on 2 September 2004 at 4 p.m.,
the Company approved the postponement of the Annual
Stockholders' Meeting, which is scheduled every second Tuesday
of September of every year as stated in the Company's By-Laws,
due to logistical problems in the preparation and printing of
the reports required for the said meeting. Moreover, the meeting
will be held within the last quarter of this year.

Very truly yours,
Balabac Resources & Holdings, Co., Inc.
Atty. Ma. Cecilia L. Pesayco

CONTACT:

Balabac Resources & Holdings Co. Inc.
Business Address:  7/F, Allied Bank Centre
Ayala Avenue, Makati City
Tel. No:  815-2830
Fax No:  815-2855
Auditor:  SyCip, Gorres, Velayo & Company
Transfer Agent:  Allied Banking Corporation


HOUSE OF INVESTMENTS: Seeks Restructuring Approval
--------------------------------------------------
Further to Circular for Brokers Nos. 3575-2004 dated August 5,
2004, House of Investments, Inc. (HI) informed the Philippine
Stock Exchange (PSE) in a letter dated September 1, 2004 that it
has filed an application for approval of its capital
restructuring with the Securities and Exchange Commission (SEC)
on September 1, 2004.

The PSE shall inform the Trading Participants and the investing
public of further developments on the aforementioned matter.

For more information, go to
http://bankrupt.com/misc/tcrap_houseofinvestments090304.pdf

CONTACT:

House of Investments Inc.
3/F, Grepalife Building
219 Sen. Gil J. Puyat Ave., Makati City
Tel. No:  815-9636 to 38
Fax No:  816-1127
E-mail Address:  investment@hoi.com.ph
URL:  http://www.hoi.com.ph
Auditor:  SyCip, Gorres, Velayo & Company
Transfer Agent:  Rizal Commercial Banking Corporation


NATIONAL POWER: Three More Foreign Firms To Join Bid
----------------------------------------------------
Three more foreign firms are interested in bidding for the 600-
megawatt (MW) Masinloc coal-fired power plant in Zambales
province, The Philippine Star reports.

YNN of Australia, Malaysia's YTL Power Generation Bhd. and
Japan's Marubeni Corporation have joined the pre-bid conference
conducted by the Power Sector Assets and Liabilities Management
Corporation (PSALM) last Wednesday. PSALM has scheduled the
actual bidding process on October 27, 2004.

Other foreign firms that have earlier signified interest in the
bid are Mirant Corporation and Korea Electric Power Corporation.

A total of 22 firms have submitted letters of intent (LOI) for
the Masinloc bidding, but only 18 joined in the pre-bidding
process.

Earlier this year, the Power Sector Assets and Liabilities
Management Corp. (PSALM) have sold National Power Corporation's
three small hydroelectric power plants.

CONTACT:

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


NATIONAL POWER: Rate Hike Ruling Out Soon
-----------------------------------------
The Energy Regulatory Commission (ERC) is set to rule on the
National Power Corporation's (Napocor) petition for a PhP1.87
per kilowatt-hour increase in generation rates, reports Business
World, citing ERC Chairman Rodolfo B. Albano.

If granted, the proposal will raise Napocor's rates to PhP4.56
per kWh from PhP2.57 per kWh in Luzon; to PhP4.59 per kWh from
PhP2.82 per kWh in the Visayas; and to PhP3.13 per kWh from
PhP1.80 per kWh in Mindanao.

The proposed rates will allow Napocor to break even and achieve
an 8 percent return on rate base. The ERC has until September 5
to issue a provisional authority for Napocor to increase its
rates.


NEGROS NAVIGATION: Receiver Proposes 10-Year Rehab Plan
-------------------------------------------------------
The rehabilitation receiver of Negros Navigation Corporation
(Nenaco) has recommended to the court a 10-year corporate
rehabilitation scheme for the troubled shipping firm, according
to Business World.

The rehabilitation plan presented by receiver Monico V. Jacob is
designed to help Nenaco gain a bigger share of the market.

Mr. Jacob also proposed the terms and conditions for the
restructuring of Nenaco debts, either through conversion of debt
into equity at par value, or through long-term notes, with a
tenor of 10 years inclusive of four years grace period on
principal repayment.

Mr. Jacob also proposed the following conditions:

1. A cash recapture mechanism will be established and will be
monitored by the Rehabilitation Receiver. It is intended to
capture any excess cash, 50 percent of which will go to debt
servicing.

2. Gradual quarterly payments on interest due and scheduled
principal amortization.

3. In the absence of equity investment, new money will be
borrowed through medium-term notes with a tenor of three years
and six months, inclusive of grace periods.

Nenaco filed a petition for rehabilitation at the Manila court
last March 29 after its cash flows proved deficient to cover
about PhP2.5 billion in liabilities.

CONTACT:

Negros Navigation Company, Inc.
Pier II, North Harbor
Tondo, Manila
Tel. No:  245-5588
Fax No:  245-0780 (Telefax)
E-mail Address:  nnwebmaster@surfshop.net.ph
URL:  http://www.nenaco.com.ph
Auditor:  Joaquin Cunanan & Company
Transfer Agent:  Stock Transfer Service, Inc.


PHILIPPINE BANK: Evaluating NPA Bids
------------------------------------
Medium-size lender Philippine Bank of Communications (PBCom) is
reviewing three bids for the sale of its non-performing assets
(NPA) worth PhP12.5 billion, Yehey Finance reports.

It said only three bids were submitted during the August 24
public auction while eight groups conducted due diligence.

After incurring a net loss of PhP200.72 million during the first
quarter, the bank swung to profit with PhP9.7 million in the
succeeding quarter due to higher interest income on investments.

Loss-making PBCom secured early this year a Php7.64 billion
financial assistance deal from state-run Philippine Deposit
Insurance Corporation (PDIC).

CONTACT:

Philippine Bank of Communications
PBCom Tower, 6795 Ayala Ave. Cor. Herrera St., 1226 Makati City
Tel. No:  830-7000 (TL)
Fax No:  818-2576 (Telefax)
E-mail Address:  info@pbcom.com.ph
URL:  http://www.pbcom.com.ph
Auditor:  SyCip, Gorres, Velayo & Company
Transfer Agent:  Securities Transfer Services, Inc.


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


ASIA HARVEST: Creditors to Post Claims On or Before October 4
-------------------------------------------------------------
Notice is hereby given that the creditors of Asia Harvest Pte
Ltd, which is being voluntarily wound up, are required on or
before the 4th day of October 2004 to send in their names and
addresses with particulars of their debts and claims and the
names and addresses of their solicitors (if any) to the
undersigned Liquidator.

If so required by notice in writing from the said Liquidator,
they are to come in personally or by their solicitors and prove
their debts and claims at such time and place as shall be
specified in such notice.

In default thereof, they will be excluded from the benefit of
any distribution made before such debts and claims are proved.

Wee Hui Pheng
Liquidator
c/o Messrs Wee Seng Tiong & Co.,
1 Coleman Street, #06-10
The Adelphi, Singapore 179803

This Singapore Government Gazette Notice was posted on September
3, 2004.


HAI SIANG: Winding Up Proceedings Set on September 27
-----------------------------------------------------
Notice is hereby given that a Petition for the winding up of Hai
Siang International Investments Pte Ltd., by the High Court was,
on the 24th day of August 2004, presented by William Young, a
creditor.

The said Petition is directed to be heard before the Court
sitting at 10.00 a.m. in the forenoon, on the 17th day of
September 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 said 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 Petitioners' address is 10B Braddell Hill #13-08, Singapore
579721.

The Petitioner's Solicitors is Messrs Colin Ng & Partners of 50
Raffles Place, #29-00 Singapore Land Tower, Singapore 048623.

Dated this 2nd day of September 2004.

Messrs Colin Ng & Partners
Solicitors for the Petitioners

Note: Any person who intends to appear at the hearing of the
said Petition must serve on or send by post to the Solicitors
for the Petitioners, 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 and must be
served, or, if posted, must be sent by post in sufficient time
to reach the above-named not later than twelve o'clock noon of
the 16th day of September 2004.

This Singapore Government Gazette Notice is dated September 3,
2003.


HIAP HENG: Court Issues Winding Up Notice
-----------------------------------------
Notice is hereby given that a Petition for the Winding Up of
Hiap Heng Chng Private Limited by the High Court was, on the
23rd day of August 2004, presented by United Overseas Bank
Limited of 80 Raffles Place, UOB Plaza 1, Singapore 048624,
creditors, and the said Petition is directed to be heard before
the Court sitting at 10.00 o'clock in the forenoon, on Friday,
the 17th day of September 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 the hearing by himself or his Counsel
for that purpose, and a copy of the said 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 Petitioners' address is 80 Raffles Place, UOB Plaza 1,
Singapore 048624.

The Petitioners' Solicitors are Drew & Napier LLC of 20 Raffles
Place, #17-00 Ocean Towers, Singapore 048620.

Drew & Napier Llc
Solicitors for the Petitioners

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
Drew & Napier Llc a 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 above named, not later than twelve o'clock noon of
the 16th day of September 2004.

This Singapore Government Gazette Notice was posted on September
3, 2004.


HO WAH: To Hold EGM September 16
--------------------------------
Notice Is Hereby Given That an Extraordinary General Meeting of
Ho Wah Genting International Ltd will be held on 16 September
2004 at 3.00 p.m. at 1 Raffles Place #39-02 OUB Centre,
Singapore 048616 for the purpose of considering, and if thought
fit, passing with or without modifications, the following

Ordinary Resolution:

Appointment Of Auditors

That Messrs TeoFoongWongLCLoong, Certified Public Accountants,
Singapore, be and are hereby appointed as Auditors of the
Company for the financial years ended 31 December 2001, 31
December 2002 and 30 June 2004 at a remuneration to be fixed by
the Directors; and in this connection, that the resignation of
Messrs Deloitte & Touche, Certified Public Accountants,
Singapore, as the previous Auditors of the Company is hereby
noted and accepted with effect from the date of such
appointment.

By Order Of The Board

Wong Chin Chong David
Director
Ho Wah Genting International Ltd

Notes:

(1) A member of the Company entitled to attend and vote at the
above Meeting is entitled to appoint a proxy to attend and vote
in his behalf. Such proxy need not be a member of the Company.

(2) The instrument appointing a proxy must be lodged at the
registered office of the Company at 80 Robinson Road #17-02
Singapore 068898 not less than 48 hours before the time
appointed for the Extraordinary General Meeting.


HUA KOK: Details Financial Impacts of New Transactions
------------------------------------------------------
On 31 August 2004, the Board of Directors of Hua Kok
International Limited announced the execution of a Strategic
Subscription and New Business Agreement with Prosperity Steel
(Asia) Company Limited.

The said announcement had set out the salient terms of
Prosperity's proposed investment in the Company and the material
terms of the proposed restructuring of the Company.

By way of illustration, the appended Tables A and B set out the
effects of Prosperity's proposed investment in the Company and
the proposed Restructuring on the balance sheet of the Group
based on the audited Balance Sheet of the Group as at 30 June
2004.

Tables A and B have been prepared on the assumptions that:

(i) The capital reduction exercise reducing the par value of the
shares of the Company from S$0.05 each to S$0.001 each that took
effect on 30 June 2004;

(ii) Prosperity's investment in the Company was completed on 30
June 2004;

(iii) The proposed Restructuring was completed on 30 June 2004,
with unsecured and secured creditors of the Company being issued
shares in the Company at S$0.052 and S$0.041 per share
respectively;

(iv) No contingent liabilities of the Company have crystallized
as at 30 June 2004.

By order of the Board
Paul Lin
Chief Executive Officer

To view the full release, click on:
http://bankrupt.com/misc/TCRAP_HUAKOK090304.pdf


INOUE SCHOOL: To Undergo Winding Up Proceedings
-----------------------------------------------
Notice is hereby given that a petition for the Winding Up of
Inoue School of Language & Art Pte Ltd formerly known as Inoue
Language School Private Limited, by the High Court was, on the
25th day of August 2004 presented by Hitachi Credit Singapore
Pte Ltd, a creditor.

The petition will be heard before the Court sitting at the High
Court of the Republic of Singapore at 10 o'clock in the
forenoon, on the 17th day of September 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;
and a copy of the petition will be furnished to any creditor or
contributory of the company requiring the copy of the petition
by the undersigned on payment of the regulated charge for the
same.

The Petitioner's address is 268 Orchard Road #11-01, Singapore
238856.

The Petitioner's solicitor is Ascentsia Law Corporation of 4
Shenton Way, #17-06 SGX Centre 2, Singapore 068807.

Ascentsia Law Corporation
Solicitor 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 solicitors for the
Petitioner, notice in writing of his intention to do so. The
notice must state the name and address of the person, or if a
firm, the name and address of the firm, and must be signed by
the person, firm or his or their solicitor and must be served,
or if posted, must be sent by post in sufficient time to reach
the abovenamed not later than 12 o'clock noon of the 16th day of
September 2004.

This Singapore Government Gazette Notice was posted on September
3, 2004.


LIANG HUAT: Court Issues Winding Up Notice
------------------------------------------
Notice is hereby given that a Petition for the Winding Up of
Liang Huat Aluminium Industries Pte Ltd., by the High Court was
on the 26th day of August 2004 presented to the said High Court
by Lim Ah Siong t/a Lian Siong Aluminium & Trading of 10 Anson
Road, #16-16 International Plaza, Singapore 079903, a creditor.

The Petition is directed to be heard before the Court sitting at
Singapore at 10.00 am on Friday, the 17th day of September 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 and 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 place of business is at 10 Anson Road, #16-16
International Plaza, Singapore 079903.

The Petitioner's Solicitors are Messrs Foo Liew & Philip Lam of
151 Chin Swee Road, #07-08/10 Manhattan House, Singapore 169876.

Dated this 3rd day of September 2004.

Messrs Foo, Liew & Philip Lam
Solicitors for the Petitioner

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
Messrs Foo, Liew & Philip Lam, notice in writing of his
intention so to do. The notice must state the name and address
of the person or firm, the name and address of the firm, and
must be signed by the person or firm, or his or their
Solicitors, and must be served or, if posted, must be send by
post in sufficient time to reach the above named not later than
twelve o'clock of the 16th day of September 2004.

This Singapore Government Gazette Notice is dated September 3,
2003.


PANPAC MEDIA: Enters Into Letter Agreement with Two Shareholders
----------------------------------------------------------------
Further to our announcements made on 29 March 2004 and 13 April
2004, the Board of Directors of Panpac Media Group Limited
announced on the Singapore Stock Exchange that the Company has
entered into a letter agreement with Mr. Yin Jianping and Mr. Hu
Yishi, on 3 September 2004 in respect of the sale and purchase
agreement between the Company, Mr. Yin Jianping and Mr. Hu Yishi
dated 13 April 2004.

Pursuant to the Letter Agreement, the Company has provided
consent to Mr. Yin Jianping and Mr. Hu Yishi in accordance with
Clause 2.3 of the Sale and Purchase Agreement, for Mr. Yin
Jianping and Mr. Hu Yishi to realize or transfer any part of
their respective shareholdings in the share capital of the
Company at any time on the condition that they shall only sell
their shares in the Company to Sun Media Investment Holdings
Limited (SMIH), a shareholder of the Company.

The parties further agree that notwithstanding the aforesaid
consent, the obligations, undertakings and warranties of Mr. Yin
Jianping and Mr. Hu Yishi under the Sale and Purchase Agreement
remain intact, valid, effective and enforceable including but
not limited to the profit warranty under Clauses 4A(b) and (c)
of the Sale and Purchase Agreement.

In addition and further to the Letter Agreement, SMIH has
provided the following undertakings in addition and without
prejudice to the obligations, undertakings and warranties of Mr.
Yin Jianping and Mr. Hu Yishi under the Sale and Purchase
Agreement:

(a) SMIH shall procure the achievement of the Profit Warranty by
Mr. Yin Jianping and Mr. Hu Yishi in accordance with the
provisions of the Sale and Purchase Agreement.

(b) SMIH shall also warrant and undertake the achievement of the
Profit Warranty in accordance with the provisions of the Sale
and Purchase Agreement.

(c) SMIH will not realise or transfer any part of the shares in
the capital of the Company acquired from Mr. Yin Jianping and/or
Mr. Hu Yishi for a period of twelve months from the completion
date of the transactions under the Sale and Purchase Agreement
and at least 50% of the such shares for the next twelve months,
save with prior written consent of the Company.

Save as disclosed above, there are no material conditions
attaching to the Letter Agreement or the Undertakings.

Rationale of Grant of Consent

The transaction will increase Dr Bruno Zheng Wu and Ms. Yang
Lan's commitment and involvement in the Company. Dr Bruno Zheng
Wu and Ms. Yang Lan are co-owners of SMIH and are also directors
of the Company. This, the Board of Directors believes, would be
in the interests of the Company and its shareholders

Save for Dr Wu and Ms. Yang Lan, no other director or
controlling shareholder has any interest direct or indirect in
the Letter Agreement.


WEE POH: Sets September 17 EGM
------------------------------
An Extraordinary General Meeting (EGM) of Wee Poh Holdings
Limited will be held at Carlton Hotel, Esplanade Room 1, Level
4, 76 Bras Basah Road, Singapore 189558 on 17 September 2004 at
9.30 a.m., for the purpose of considering and, if thought fit,
passing the following resolution, with or without any
modifications:

Ordinary Resolution

That, the Directors be and are hereby authorized to allot and
issue up to 300,000,000 new ordinary shares of S$0.005 each at
an issue price of S$0.05, credited as fully paid-up, free from
all liens, charges and other encumbrances and ranking pari passu
in all respects with the then existing Shares (except that they
will not be entitled to any rights, dividends or distributions
the record date of which falls before their date of issue), to
the Participating Creditors as full and final settlement of
amounts owing to them by Wee Poh Construction Co., (Pte.) Ltd.
pursuant to the Scheme; and

That the Directors be and are hereby authorized to complete and
do all such acts and things including, without limitation, to
execute all such documents and to approve any amendments,
alteration or modification to any documents as they may consider
necessary, desirable or expedient to give full effect to the
Scheme.

By Order of the Board
Chew Ban Chuan Victor Mark
Secretary

Note:

(1) A Shareholder entitled to attend and vote at a meeting of
the Company is entitled to appoint not more than two proxies to
attend and vote on his behalf. A proxy need not be a
Shareholder.

(2) An instrument of proxy must be deposited at the registered
office of the Company at 213 Upper Thomson Road, Singapore
574348 not less than 48 hours before the time appointed for the
holding of this meeting or adjourned meeting otherwise the
instrument of proxy shall not be treated as valid.


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


DATAMAT: Issues Report on Resignation of Director
-------------------------------------------------
Kusol Sangkananta, Director and Secretary to the Board of
Datamat Public Company Limited, disclosed to the Stock Exchange
of Thailand that the company received a letter from Mr. Wiwat
Avasiriphongs resigning from his position as a director
effective August 31, 2004.

CONTACT:

DATAMAT PUBLIC COMPANY LIMITED   
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   
Website: www.datamat.co.th
  

SIAM AGRO: SET Posts SP On Securities
-------------------------------------
Previously, the Stock Exchange of Thailand (SET) halted
securities trading of Siam Agro-Industry Pineapple and Others
Public Company Ltd. effective from the first trading session of
2 September 2004 because SAICO has been informed by Fresh Del
Monte Produce N.V. that Fresh Del Monte Produce N.V. entered
into a preliminary purchase agreement with Cirio Del Monte
Group, major shareholders of SAICO, to offer a price of one Euro
for buying SAICO's securities which are totally held by Cirio
Del Monte Group, and the Office of the Securities and Exchange
Commission is in the process of considering a request for an
exemption from the mandatory tender offer.

The SET required SAICO to disclose the information on the new
major shareholder, since the aforementioned information may
affect the price and investment decision in SAICO's securities.

The SET still has not received the required information from the
company which may have affected the stock price of the company.

Therefore, the SET will prohibit the trading of SAICO by posting
the SP sign effective from the second trading session of 2
September 2004 until SAICO is able to disclose the required
information to the SET.

CONTACT:

SIAM AGRO-INDUSTRY PINEAPPLE AND OTHERS PCL   
OCEAN TOWER 2, FLOOR38,
75/105 SUKHUMVIT ROAD,
WATTHANA Bangkok    
Telephone: 0-2661-7878   
Fax: 0-2661-7865   
Website: www.saico.co.th


THAI GERMAN: Issues Progress of Business Reorganization
-------------------------------------------------------
The Central Bankruptcy Court issued an order approving the
petition for a request of the amendment of the business
reorganization plan of Thai-German Product Public Company
Limited on July 23, 2004, and the Central Bankruptcy Court also
issued an order approving the decrease and the increase of
registered capital of the Company on August 4, 2004.

The Company would like to inform the Stock Exchange of Thailand
(SET) that it has completed the offering of 157,500,000 newly
issued shares with the offered price of THB10 in the total
amount of THB575,000,000 to the creditors under the Business
Reorganization plan of the Company.  

Those creditors made a payment for the shares price by
converting their debts into the Company's newly issued shares.  
Furthermore, the Company has completed the registration of the
increase of paid-up capital from THB210,120,690 to
THB1,785,120,690 on September 1, 2004.

Please be informed accordingly
Yours sincerely,
PLV and Associates Company Limited
As Business Reorganization Plan Administrator
of Thai-German Products Public Company Limited
(Mr.Apinun Ratchatasombat)

CONTACT:

THAI-GERMAN PRODUCTS PCL   
99 HUAYPONG-NONGBON ROAD,
TAMBOL HUAYPONG, AMPHUR MUANG Rayong    
Telephone: 0-3868-4901-5   
Fax: 0-3868-4906   
Website: www.tgpro.co.th
    




                            *********


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, Peachy Clare Arreglo, 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 ***