TCRAP_Public/040920.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                     A S I A   P A C I F I C

             Monday, September 20, 2004, Vol. 7, No. 186

                            Headlines

A U S T R A L I A

ACCESS BROKERAGE: Rival Buys Client List
ACT NURSECALL: Issues Notice of Final Meeting
CATALYST PARTNERS: To Hold Final Meeting on October 7
COLES MYER: AGM to be Held on November 18
DECORTIMBER INSTALLATIONS: To Hold Final Meeting October 7

EPLEXUS PTY: Final Meeting Set October 7
HEALTHCALL ENTERPRISES: Final Meeting Slated for October 7
HEALTHCALL OPERATIONS: Issues Notice of Final Meeting
JDR BRICK: Sets September 30 as Date of Final Meeting
KINGSLIGHT PTY: Sets Final Meeting on September 22

MDR HOLDINGS: To Hold Final Meeting on September 30
MMR ENTERPRISES: Issues Notice of Final Meeting
NATIONAL AUSTRALIA: Mulls US$1Bln in RMBS
PEARSON PRINTING: Sets October 7 Final Meeting
SALANDA HOLDINGS: Final Meeting Slated for October 7

SANTOS LIMITED: Appoints VP to Leadership Team
SOUTHERN HOME: Issues Notice of Final Meeting
SPECIAL CARE: To Hold Final Meeting on October 7
UNITED MASONRY: Final Meeting Slated for September 30
VILLAGE ROADSHOW: Panel Receives Application from Boswell


C H I N A  &  H O N G  K O N G

FOUNDER HOLDINGS: Posts Improved Interim Figures
* China's Top Four Banks to Utilize Edify Corporation


I N D O N E S I A

BANK PERMATA: Base Price Should Exceed Investors' Bids, says PPA
INDOFOOD SUKSES: Delays Registration of Bonds
PERTAMINA: Government, Expert At Odds Over Cepu Decision


J A P A N

HITACHI LIMITED: Declares JPY5.5 Dividend for 1H
MARUISHI CYCLE: Collapses with US$24.29Mln in Debt
MATSUSHITA ELECTRIC: Mulls Overseas Recruitment
MITSUBISHI MOTORS: Labor Union Returns JPY2.4 Bln to Members
MITSUBISHI MOTORS: To Loosen Ties with DaimlerChrysler

UFJ HOLDINGS: TSE Denies British FSA's Inquiry on Earnings Info


K O R E A

DAEWOO INTERNATIONAL: Sells 20% of Daewoo Unitel to Germanos
HANBO STEEL: FTC to OK Sale if INI Sells Other Facilities
KOOKMIN BANK: To Close Registry Book on October 1 to October 7
KWANGJU BANK: Fitch Upgrades Individual Rating To 'C'
LG INVESTMENT: Woori Board Approves 21.2% Stake Buy


M A L A Y S I A

ANTAH HOLDING: Court OKs Debt Restructuring Proposal
AOKAM PERDANA: Appoints New Audit Committee Member
AOKAM PERDANA: Director Mohd Salleh Bin Zakaria Resigns
FABER GROUP: Grants Listing of 2,871,624 Ordinary Shares
GOLDEN FRONTIER: Posts Details of Shares Buy Back

INNOVEST BERHAD: Issues Notice of Share Registrar Change
INTEGRATED RUBBER: AGM Set for October 12
MTD CAPITAL: Purchases 50,300 Ordinary Shares on Buy Back
NAUTICALINK BERHAD: Court Extends Order, Time for Meeting
PAN MALAYSIA: Completes Property Disposal

SUNWAY HOLDINGS: Unit Enters Joint Venture Agreement
TANJONG PUBLIC: Issues Details of Principal Officer's Dealings
TENGGARA OIL: SC Extends Regularization Plan


P H I L I P P I N E S

COLLEGE ASSURANCE: Signing of MOU Deferred
COLLEGE ASSURANCE: Must Prove It Can Pay Claims, Says SEC Chief
NATIONAL POWER: DOF Defends US$1B Bond Offering
NATIONAL POWER: Business World Clarifies News Report
NATIONAL STEEL: BSP OKs Sale If All Parties Execute Transactions

PHILIPPINE LONG: Issues Additional Listing of Shares


S I N G A P O R E

EURO-ASIA: Enters Winding Up Proceedings
HUP AIK: Issues Second and Final Dividend Notice
HUP AIK: Issues Third and Final Dividend Notice
INTIQUA INTERNATIONAL: Creditors Meetings Set on September 30
INTIQUA INTERNATIONAL: Contributories Meeting Set September 30

NEPTUNE ORIENT: Temasek Now Owns Majority Stake
NEPTUNE ORIENT: Options Converted to Shares


T H A I L A N D

EASTERN WIRE: Reports to SET on Share Volatility
KRUNG THAI: Former President's Reappointment Still Vague
THAI PETROCHEMICAL: SET Says Share Hike May Exceed Expectation
THAI WAH: Issues Changes In Head Office Address

     -  -  -  -  -  -  -  -

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


ACCESS BROKERAGE: Rival Buys Client List
----------------------------------------
The client list of failed firm Access Brokerage has been bought
by its rival Direct Broking, reports The Christchurch Press.

Direct Broking Managing Director Nigel Wynn declined to disclose
the price but said the list "wasn't worth a lot", although it
contains around 20,000 names.

Access' most active clients have signed up with other brokers,
including Direct Broking, since the brokerage collapsed last
week with an AU$5 million shortfall in client funds.

"We believe we've got it at a good price and we'll make money
from it," Mr. Wynn said. "We're not just going for the easy
clients, we're in here for the long haul."

Brent King, managing director of Direct Broking's parent
Dorchester Pacific, said the brokerage received approval from
the New Zealand Exchange (NZX) to allow former Access clients to
deal with Direct without formally re-registering.

NZX's decision has upset some other brokerages, which have been
asked to follow more strict registration rules since March.


ACT NURSECALL: Issues Notice of Final Meeting
---------------------------------------------
Notice is given that a final meeting of the members and
creditors of Act Nursecall Pty Limited (In Liquidation) will be
held at Rodgers Reidy, Level 8, 333 George Street, Sydney on
Thursday, 7 October 2004 at 3:00 p.m.

The purpose of the meeting is:

(a) To receive an account from the Liquidator.
(b) A resolution to destroy the books & records of the company.
(c) To consider any other business.

Robert Moodie
Liquidator
Rodgers Reidy
Level 8, 333 George Street,
Sydney NSW 2000


CATALYST PARTNERS: To Hold Final Meeting on October 7
-----------------------------------------------------
Notice is given that a final meeting of the members and
creditors of Catalyst Partners Commercial Lawyers Pty Limited
(In Liquidation) will be held at Rodgers Reidy, Level 8, 333
George Street, Sydney on Thursday, 7 October 2004 at 12:00
midday.

The purpose of the meeting is:

(a) To receive an account from the Liquidator.
(b) A resolution to destroy the books & records of the company.
(c) To consider any other business.

Robert Moodie
Liquidator
Rodgers Reidy
Level 8, 333 George Street,
Sydney NSW 2000


COLES MYER: AGM to be Held on November 18
-----------------------------------------
In a disclosure to the Australian Stock Exchange, Coles Myer
Limited announced that its Annual General Meeting will be held
at the Arts Centre, Hamer Hall, 100 St. Kilda Road, Melbourne on
Thursday, November 18, 2004 at 10:00 a.m.

CONTACT:

Coles Myer Ltd. (NYSE: CM [ADR])
800 Toorak Rd.
Tooronga, Victoria 3146, Australia
Phone: +61-3-9829-3111
Fax: +61-3-9829-6787
Web site: http://www.colesmyer.com


DECORTIMBER INSTALLATIONS: To Hold Final Meeting October 7
----------------------------------------------------------
Notice is given that a final meeting of the members and
creditors of Decortimber Installations Pty Limited (In
Liquidation) will be held at Rodgers Reidy, Level 8, 333 George
Street, Sydney on Thursday, 7 October 2004 at 10:00 a.m.

The purpose of the meeting is:

(a) To receive an account from the Liquidator.
(b) A resolution to destroy the books & records of the company.
(c) To consider any other business.

Robert Moodie
Liquidator
Rodgers Reidy
Level 8, 333 George Street,
Sydney NSW 2000


EPLEXUS PTY: Final Meeting Set October 7
----------------------------------------
Notice is given that a final meeting of the members and
creditors of Eplexus Pty Limited (In Liquidation) will be held
at Rodgers Reidy, Level 8, 333 George Street, Sydney on
Thursday, 7 October 2004 at 10:30 a.m.

The purpose of the meeting is:

(a) To receive an account from the Liquidator.
(b) A resolution to destroy the books & records of the company.
(c) To consider any other business.

Robert Moodie

Liquidator
Rodgers Reidy
Level 8, 333 George Street,
Sydney NSW 2000


HEALTHCALL ENTERPRISES: Final Meeting Slated for October 7
----------------------------------------------------------
Notice is given that a final meeting of the members and
creditors of Healthcall Enterprises Pty Limited (In Liquidation)
will be held at Rodgers Reidy, Level 8, 333 George Street,
Sydney on Thursday, 7 October 2004 at 2:30 p.m.

The purpose of the meeting is:

(a) To receive an account from the Liquidator.
(b) A resolution to destroy the books & records of company.
(c) To consider any other business.

Robert Moodie
Liquidator
Rodgers Reidy
Level 8, 333 George Street, Sydney NSW 2000


HEALTHCALL OPERATIONS: Issues Notice of Final Meeting
-----------------------------------------------------
Notice is given that a final meeting of the members and
creditors of Healthcall Operations Pty Limited (In Liquidation)
will be held at Rodgers Reidy, Level 8, 333 George Street,
Sydney on Thursday, 7 October 2004 at 3:30 p.m.

The purpose of the meeting is:

(a) To receive an account from the Liquidator.
(b) A resolution to destroy the books & records of the company.
(c) To consider any other business.

Robert Moodie
Liquidator
Rodgers Reidy
Level 8, 333 George Street,
Sydney NSW 2000


JDR BRICK: Sets September 30 as Date of Final Meeting
-----------------------------------------------------
Notice is hereby given that the final meeting of Members and
Creditors of Jdr Brick & Block Laying Pty Limited (In
Liquidation) will be held at the office of Ferrier Hodgson,
Chartered Accountants, Level 1, 121-123 Crown Street,
Wollongong, New South Wales on 30 September 2004 at 10:00 a.m.

The purpose of the meeting is to:

(i) Consider the Liquidator's account of his acts and dealings
and the conduct of the winding up;

(ii) To consider any other matter properly brought before the
meeting.

Dated this 24th day of August 2004

Daniel I. Cvitanovic
Liquidator
Ferrier Hodgson
Chartered Accountants
Level 1, 121-123 Crown Street,
Wollongong NSW 2500


KINGSLIGHT PTY: Sets Final Meeting on September 22
--------------------------------------------------
Notice is hereby given that a meeting of the Members and
Creditors of Kingslight (Wholesalers) Pty Limited (In
Liquidation) will be held at Hall Chadwick Level 29, 31 Market
Street, Sydney NSW 2000 on Wednesday 22 September 2004 at 10.00
a.m.

The meeting will be a Final Meeting in accordance with Section
509 of the Corporations Act 2001.

BUSINESS

(1) To receive a report from the Liquidator, being an account of
his acts and dealings and of the conduct of the winding up
during the period of the liquidation ending on 22 September
2004.

(2) That subject to any provisions under the Corporations Act
2001 to the contrary, the Liquidator be empowered to destroy all
books and records of the company on completion of all duties.

(3) Any other business that may be considered with the
foregoing.

Dated this 24th day of August 2004

Richard Albarran
Liquidator
c/- Hall Chadwick
Level 29, 31 Market Street,
Sydney NSW 2000


MDR HOLDINGS: To Hold Final Meeting on September 30
---------------------------------------------------
Notice is hereby given that the final meeting of Members and
Creditors of Mdr Holdings Pty Limited (In Liquidation) will be
held at the office of Ferrier Hodgson, Chartered Accountants,
Level 1, 121-123 Crown Street, Wollongong, New South Wales on 30
September 2004 at 10:15 a.m. The purpose of the meeting is to:

(i) Consider the Liquidator's account of his acts and dealings
and the conduct of the winding up;

(ii) To consider any other matter brought before the meeting.

Dated this 24th day of August 2004

Daniel I. Cvitanovic
Liquidator
Ferrier Hodgson
Chartered Accountants
Level 1, 121-123 Crown Street,
Wollongong NSW 2500


MMR ENTERPRISES: Issues Notice of Final Meeting
-----------------------------------------------
Notice is hereby given that the final meeting of Members and
Creditors of Mmr Enterprises Pty Limited (In Liquidation)
will be held at the office of Ferrier Hodgson, Chartered
Accountants, Level 1, 121-123 Crown Street, Wollongong, New
South Wales on 30 September 2004 at 10:20 a.m.

The purpose of the meeting is to:

(i) Consider the Liquidator's account of his acts and dealings
and the conduct of the winding up;

(ii) To consider any other matter properly brought before the
meeting.

Dated this 24th day of August 2004

Daniel I. Cvitanovic
Liquidator
Ferrier Hodgson
Chartered Accountants
Level 1, 121-123 Crown Street,
Wollongong NSW 2500


NATIONAL AUSTRALIA: Mulls US$1Bln in RMBS
-----------------------------------------
According to Reuters, National Australia Bank Limited is
planning to offer US$1 billion in residential mortgage-backed
securities (RMBS), supported by home loans it issued.

The dollar-denominated notes are part of a multi-currency
transaction worth AU$2.5 billion (US$1.8 billion), which
features securities set in euro and Australian dollar.

The deal's joint lead underwriters for the U.S. dollar notes are
Deutsche Bank Securities and J.P. Morgan Securities. Deutsche is
the book manager. Citigroup Global Markets, Societe Generale and
National Australia Bank will act as co-managers.

Following are the early terms and conditions for "National RMBS
Trust 2004-1":

Class A1

Issue Amount:   US$1 billion
Average Life:   2.41 years
Payment Window: Dec. 2004 to Sept. 2010
Legal Final:    2034
Price Guidance: 3-month Libor + 12 bps area
Ratings       : Aaa (Moody's), AAA (S&P)

Expected Settlement:  Sept. 28, 2004

First Interest Payment: Dec. 20, 2004 (US$1=AUD$0.6984)

CONTACT:

National Australia Bank Limited
Fl. 24, 500 Bourke St.
Melbourne, 3000, Australia
Phone: +61-3-8641-4200
Fax: +61-3-8641-4927
Web site: http://www.national.com.au


PEARSON PRINTING: Sets October 7 Final Meeting
----------------------------------------------
Notice is given that a final meeting of the members and
creditors of Pearson Printing & Stationery Company Pty Limited
(In Liquidation) will be held at Rodgers Reidy, Level 8, 333
George Street, Sydney on 7 October 2004 at 9:30 a.m.

The purpose of the meeting is:

(a) To receive an account from the Liquidator.
(b) A resolution to destroy the books & records of the company.
(c) To consider any other business.

Dated this 25th day of August 2004

Robert Moodie
Liquidator
Rodgers Reidy
Level 8, 333 George Street,
Sydney NSW 2000


SALANDA HOLDINGS: Final Meeting Slated for October 7
----------------------------------------------------
Notice is given that a final meeting of the members and
creditors of Salanda Holdings Pty Limited (In Liquidation) will
be held at Rodgers Reidy, Level 8, 333 George Street, Sydney on
Thursday, 7 October 2004 at 11.00 a.m.

The purpose of the meeting is:

(a) To receive an account from the Liquidator.
(b) A resolution to destroy the books & records of the company.
(c) To consider any other business.

Robert Moodie
Liquidator
Rodgers Reidy
Level 8, 333 George Street,
Sydney NSW 2000


SANTOS LIMITED: Appoints VP to Leadership Team
----------------------------------------------
Santos Limited announced in a press release, the appointment of
Mr. Martyn Eames to the newly created position of Vice
President, Corporate and People, effective December 1, 2004.

Mr. Eames currently holds the position of Vice President,
Strategy and Business Planning with BP Angola, a major growth
business in BP's upstream portfolio.

His career spans over 25 years with BP, working in Canada,
Australia (NW Shelf), Norway, the UK and USA. Mr. Eames has
broad and deep leadership experience in both the growth and
mature businesses of oil, onshore gas and LNG.

Mr. Eames holds a Bachelor of Science (Hons) degree in
Mathematics from the University of Bristol, UK.

"It is very pleasing to appoint someone of Mr. Eames's caliber
to the Santos team.  His extensive global experience and skills
set will compliment and add to our management team", said
Santos' Managing Director, Mr. John Ellice-Flint.

In his new role at Santos, Mr. Eames will be responsible for the
leadership of the corporate groups including Shared Business
Services; Human Resources; Corporate Affairs; Environment
Health, Safety and Sustainability; Government and Indigenous
Affairs and Media Relations.

Martyn will report to the Managing Director and be part of
Santos' new Senior Leadership Team.  The position of Vice
president Corporate and People was created in May 2004 as part
of Santos' restructuring under its continuous improvement
program.

CONTACT:

Santos Ltd (NASDAQ (SC)
Level 29, Santos House,
91 King William St.
Adelaide, 5000, Australia
Phone: +61-8-8218-5111
Fax: +61-8-8218-5476
Website: http://www.santos.com.au



SOUTHERN HOME: Issues Notice of Final Meeting
---------------------------------------------
Notice is given that a final meeting of the members and
creditors of Southern Home Improvements Pty Limited (In
Liquidation) will be held at Rodgers Reidy, Level 8, 333 George
Street, Sydney on Thursday, 7 October 2004 at 11:30 a.m.

The purpose of the meeting is:

(a) To receive an account from the Liquidator.
(b) A resolution to destroy the books & records of the company.
(c) To consider any other business.

Robert Moodie
Liquidator
Rodgers Reidy
Level 8, 333 George Street,
Sydney NSW 2000


SPECIAL CARE: To Hold Final Meeting on October 7
------------------------------------------------
Notice is given that a final meeting of the members and
creditors of Special Care Pty Limited (In Liquidation) will be
held at Rodgers Reidy, Level 8, 333 George Street, Sydney on
Thursday, 7 October 2004 at 4:00 p.m.

The purpose of the meeting is:

(a) To receive an account from the Liquidator.
(b) A resolution to destroy the books & records of the company.
(c) To consider any other business.

Robert Moodie
Liquidator
Rodgers Reidy
Level 8, 333 George Street,
Sydney NSW 2000


UNITED MASONRY: Final Meeting Slated for September 30
-----------------------------------------------------
Notice is hereby given that the final meeting of Members and
Creditors of United Masonry Pty Limited (In Liquidation) will be
held at the office of Ferrier Hodgson, Chartered Accountants,
Level 1, 121-123 Crown Street, Wollongong, New South Wales on 30
September 2004 at 10:25 a.m.

The purpose of the meeting is to:

(i) Consider the Liquidator's account of his acts and dealings
and the conduct of the winding up;

(ii) To consider any other matter properly brought before the
meeting.

Dated this 24th day of August 2004

Daniel I. Cvitanovic
Liquidator
Ferrier Hodgson
Chartered Accountants
Level 1, 121-123 Crown Street,
Wollongong NSW 2500


VILLAGE ROADSHOW: Panel Receives Application from Boswell
---------------------------------------------------------
In a disclosure to the Australian Stock Exchange (ASX) the
Takeovers Panel announced that it has received an application
from Boswell Filmgesellschaft mbh (Boswell) dated September 17,
2004 alleging unacceptable circumstances in relation to the
affairs of Village Roadshow Limited (VRL).  Boswell is a
shareholder of VRL.

In its application, Boswell seeks a declaration of unacceptable
circumstances in relation to a resolution to approve a proposed
on-market buy-back of VRL ordinary shares, which is to be put to
VRL shareholders at a general meeting on October 8, 2004 (Buy-
back Resolution).  Meeting documents regarding the Buy-back
Resolution were sent to VRL shareholders on September 8, 2004.

Boswell alleges that unacceptable circumstances arise due to:

- A failure to provide adequate information to VRl shareholders
regarding the Buy-back Resolution; and

- The ability of Village Roadshow Corporation Limited (VRC), the
majority shareholder in VRL, to vote in favour of the Buy-back
Resolution.

Boswell is seeking final orders:

- Requiring VRL to issue supplementary disclosure to VRL
shareholders in relation to the Buy-back Resolution; and

- Restraining VRC and its associates from voting in favour of
the Buy-back Resolution.

The Panel has not yet sought the views of VRL or other persons
potentially involved in Boswell's application and has therefore
formed no views on the application.

The President of the Panel is appointing a sitting Panel to
consider the application.

CONTACT:

Village Roadshow Limited
206 Bourke Street
Melbourne Vic 3000
Australia
Phone: 61 3 9667 6666
Fax: 61 3 9639 1540
Web site: www.villageroadshow.com.au/


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


FOUNDER HOLDINGS: Posts Improved Interim Figures
------------------------------------------------
Founder Holdings posted an improved set of interim figures amid
narrowing profit margins, which kept the firm in the red in the
first six months, The Standard reports.

The firm booked a net loss of HK$923,000 in the first half,
compared with a loss of HK$5.24 million the previous year.
Turnover surged by 41 percent in the first six months to HK$876
million from last year's HK$621 million. Founder also cut its
operating losses to HK$4.01 million from a shortfall of HK$10.99
million, its loss per share showed 0.1HK cents, as opposed from
the previous 0.5HK cents.

Founder, which distributes information products thru thirteen
mainland branches, is optimistic that its performance will
improve in the second phase of its restructuring.

The firm's information product arm tallied the strongest revenue
rise in the first semester. Turnover rose by 61 per cent year-
on-year in the segment to HK$499 million, mainly due to a wider
range of products and suppliers, tighter controls on operating
costs, and the expansion of its distribution network. Sales of
software development and systems integration products aimed at
the media and non-media sectors jumped 21 and 23 per cent to
HK$283 million and HK$87 million, respectively.

CONTACT:
Founder Holdings Limited
Unit 1408, 14th Fl., Cable TV Tower, 9 Hoi Shing Rd., Tsuen Wan
New Territories, Hong Kong
Phone: +852-2611-4411
Fax: +852-2413-3218
http://www.irasia.com/listco/hk/founder/
  

* China's Top Four Banks to Utilize Edify Corporation
-----------------------------------------------------
Edify Corporation, a leading global supplier of voice and speech
solutions, and a subsidiary of S1 Corporation on September 14
announced that the top 4 banks in China all utilize Edify Voice
and Speech to provide exceptional customer service, streamline
business processes and reduce costs. Edify enhanced the
management of banking customer service operations for all of the
top 4 Banks including Industrial and Commercial Bank of China,
Agricultural Bank of China, China Construction Bank, and Bank of
China as well as leading middle tier banks such as Everbright
Bank. As a result, Edify enabled them to increased call accuracy
and accommodate higher call volumes while delivering more
personalized and intelligent customer interactions.
  
In particular, Everbright Bank, the financial subsidiary of The
Everbright Group, recently implemented a distributed Edify voice
self-service system that readily integrates customer self-
service throughout its enterprise call centers. Everbright
Bank's goal was to improve customer satisfaction while
decreasing its long distance phone expenses between its more
than 20 call centers throughout China's major provinces.
Everbright Bank looked to Edify to consolidate its service
offering to provide a unified and efficient customer-facing
solution. The Edify system enables Everbright Bank customers to
simply use one number to reach a variety of self-service
options, including banking, credit card and securities trading
information. With the Edify enterprise voice self-service
automatically directing 90 percent of the incoming calls, only
10 percent of the calls actually go through the bank's internal
network, streamlining business processes and reducing overall
expenses.

"We wanted a system capable of efficiently keeping pace with
market requirements and our customer preferences," said Wu
Keyin, call center project manager at Everbright Bank. "After
evaluating a variety of vendors, we determined that Edify's
open, standards-based platform fit our needs for a smooth and
non-disruptive integration. We selected Edify due to their solid
reputation for product support and successful implementations in
leading banks across the globe."

Other leading banking institutions such as Industrial and
Commercial Bank of China, Agricultural Bank of China, China
Construction Bank, and Bank of China are also using Edify's
award-winning platform and voice and speech solutions to provide
optimal customer service and enhance corporate performance
through increased operational efficiency. Edify's extensive
support of standards eliminates concern over application
functionally and compatibility issues enabling banking
institutions to protect their current infrastructure investments
and take advantage of technology advancements as they move into
the future.

"The top banks in China have come to rely on Edify's voice self-
service solutions," said Mitch Mandich, president and CEO at
Edify. "Our banking industry expertise helps leading financial
institutions offer superior service to their customers
worldwide. At the same time, these institutions save money and
gain productivity by offloading routine requests to automated
systems."

About Edify Corporation

With fourteen years of industry leadership and innovation in
voice and speech applications, Edifyr has changed the way more
than 2,000 global companies enhance customer service.
Applications built with Edify are scalable, multilingual and
flexible, allowing companies to easily integrate backend systems
with multiple contact interfaces. Edify's open, standards-based
platform successfully manages millions of customer interactions
every day across a broad range of industries. Edify's Speech
Solutions Group and consultancy experts assist customers with
the design and deployment of speech solutions that provide
increased customer satisfaction with reduced costs. You speak,
we deliver(TM).

Additional information about Edify may be obtained by calling
408-982-2000 (USA), 81-3-5532-7827 (Japan) or +44 162 885 0222
(Europe, Middle East, Africa) or via the World Wide Web at
http://www.edify.com

About S1 Corporation

S1 Corporation is a leading global provider of integrated front-
office applications for more than 4,000 banks, credit unions and
insurance providers around the world. Comprised of applications
that address virtually every market segment and delivery
channel, S1 solutions help integrate and optimize an
institution's entire front office, resulting in increased
operational efficiencies, revenue opportunities and overall
customer satisfaction. S1 is the only provider with the proven
experience, breadth of products and financial strength to
empower financial services companies' enterprise strategies.
Additional information about S1 is available at www.s1.com.

For Inquiries
Edify Corporation
Cynthia Dimidik, Edify Corporation: (408) 486-1791
cynthia.dimidik@edify.com


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


BANK PERMATA: Base Price Should Exceed Investors' Bids, says PPA
----------------------------------------------------------------
The state-owned Asset Management Company (PPA) has yet to set
the base price for the Bank Permata stake, which is expected to
be at least 2.03 times its book value, reports Indoexchange.

PPA has confirmed that the base price for the government's 51
percent stake in Permata should be higher than the price offered
by the investors earlier.

PPA Deputy President Director Raden Pardede affirmed that the
bid prices submitted by potential investors were between 1.8-
2.39 times the bank's book value. However, aside from the bid
price, PPA also has to consider some technical aspects and the
potential investors' financial ability.

In choosing the five short listed investors, PPA referred to
results from a number of reviews, which included banking-
technical aspect, financial ability, bid price and business
plan.

After a thorough evaluation, Bumiputera Commerce Bank
Consortium, Maybank Consortium, Konsorsium Panin Bank
Consortium, Standard Chartered Consortium, and United Overseas
Bank (UOB) Limited Consortium emerged as the five short listed
bidders for the Permata stake.

CONTACT:

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


INDOFOOD SUKSES: Delays Registration of Bonds
---------------------------------------------
PT Indofood Sukses Makmur Tbk will postpone the registration of
its bonds at the Surabaya Stock Exchange (SSX), as they have yet
to meet SSX's administrative requirements, reports Indoexchange.

The bond registration will be delayed until such time Indofood
will be able to submit its audited financial reports as part of
its administrative obligations.

The audit for Indofood's financial report for the period ended
June 2004 has not been completed.

"We have not even finished the legal audit, so we postponed the
Indofood's bonds registration schedule," revealed one of the
underwriters.

As soon as all the documents are in, the KP3E of Indofood's
bonds at SSX is expected to be implemented on September 21. The
country's largest instant noodle maker will carry out KP3E on
the issuance of bond IV worth DR1.5-2 trillion.

PT Trimegah Securities, PT Mandiri Sekuritas, PT Danatama Makmur
Securities and PT Nusantara Capital Securities were appointed as
underwriters for the issue, the proceeds of which will be used
to refinance dollar-denominated debts.

CONTACT:

PT. Indofood Sukses Makmur Tbk.
Gedung Ariobimo Sentral,
12th Fl., Jl. H.R. Rasuna Said X-2 Kav 5, Kuningan
Jakarta, 12950, Indonesia
Phone: +62-21-522-8822
Fax: +62-021-522-6014
Web site: http://www.indofood.co.id


PERTAMINA: Government, Expert At Odds Over Cepu Decision
--------------------------------------------------------
Despite the government's approval of PT Pertamina's proposal not
to extend ExxonMobil's contract on the Cepu block, an expert has
warned that the decision would have an adverse impact on the
country's investment climate, The Jakarta Post reveals.

In defense, oil and gas authority BP Migas' chairman, Rachmat
Sudibyo, said that Pertamina's decision would not further hurt
Indonesia's investment climate since the decision was legally
accepted.

"There won't be a problem if a contract is extended or not. A
problem will only arise if a contract is terminated before its
expiry date," Mr. Rachmat quipped.

However, Gatot K. Wiroyudho, former director of Pertamina's
division in charge of the supervision of oil and gas
contractors, said the oil firm's decision had undermined the
government's efforts to build a favorable investment climate in
the country.  He added that Pertamina has alienated investors
with the decision.

Last week, the Commission VIII of the House of Representatives
agreed to Pertamina's proposal to handle the Cepu block on its
own, provided the block would generate more income for the
state.

The firm's new chief, Widja Purnama, had insisted the state oil
and gas firm manage the Cepu block by itself in 2010, after
rejecting in principle the head of agreement (HoA) submitted by
ExxonMobil Oil Indonesia Inc (EMOI), saying it does not benefit
the country.

CONTACT:

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


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


HITACHI LIMITED: Declares JPY5.5 Dividend for 1H
------------------------------------------------
Hitachi Limited will pay a dividend of JPY5.5 per share for the
first semester of the fiscal year ending September 30, up from
JPY3.0 in the same period last year, Dow Jones reports.

The electronics maker attributed the dividend hike to its solid
business operations.

Hitachi, which paid a total JPY8.0 dividend in the previous
business year ended March 31, is yet to determine its second-
half dividend.

Due to a strong recovery of some of its key businesses, Hitachi
booked a JPY16.04 billion group net profit for the April-June
quarter, offsetting last year's JPY38.4 billion loss.

CONTACT:

Hitachi, Ltd.
4-6, Kanda-Surugadai, Chiyoda-ku
Tokyo, 101-8010, Japan
Phone: +81-3-3258-1111
Fax: +81-3-3258-2375
Web site: http://www.hitachi.com


MARUISHI CYCLE: Collapses with US$24.29Mln in Debt
--------------------------------------------------
According to Teikoku Databank Limited, Maruishi Cycle Industries
Limited has entered bankruptcy, Kyodo News says.

The long-established bicycle maker became insolvent with JPY2.9
billion (US$24.29 million) worth of liabilities, as banks
cancelled transactions with the firm on its second failure to
honor a bill.

In the past few years, competition from cheaper imports has
stripped Maruishi huge amounts from sales. In order to rescue
its business, the firm created Maruishi Holdings Company in May.

However in June, the police arrested Yoshio Yagi, who was fired
as president in late May. He was indicted on fraud charges
involving a dubious capital increase in the firm.

Since the scandal, the company booked a special loss of JPY12.3
billion, while its financial woes worsened. It dishonored a bill
for the first time on August 31.

On September 4, the Tokyo Stock Exchange delisted Maruishi
Holdings because it doubted the reliability of the firm's
financial data.


MATSUSHITA ELECTRIC: Mulls Overseas Recruitment
-----------------------------------------------
Matsushita Electric Industrial Company unveiled plans to set up
regional recruiting centers in Asia, Europe and the United
States within the year, relates The Japan Times.

The electronics maker will set up the Asian center in Singapore
and the European center in London on October 1. The
establishment of the U.S. Center in New Jersey will follow later
this year.

The firm's local subsidiaries will take charge of Matsushita's
overseas employment. But with the new centers, "country-specific
employment officers" will be responsible for recruitment in
cooperation with local universities and headhunting firms under
the direction of the head office.

In line with its goal to boost its production performance, the
company targets to recruit excellent engineers and managers.
Matsushita will employ around 650 staff, mostly engineers, in
Asia by next spring. It, likewise, intends to recruit several
dozens for managerial positions in Europe and the United States.

CONTACT:

Matsushita Electric Industrial Co., Ltd.
1006 Oaza Kadoma
Kadoma, Osaka 571-8501, Japan
Phone: +81-6-6908-1121
Fax: +81-6-6908-2351
Web site: http://matsushita.co.jp


MITSUBISHI MOTORS: Labor Union Returns JPY2.4 Bln to Members
------------------------------------------------------------
The Labor union of embattled Mitsubishi Motors Corporation has
opted to return union dues worth around JPY2.4 billion to its
members in December to help them cope with meager salaries,
reports Japan Today, citing Kyodo News.

According to union officials, the money was originally intended
to cover pay cuts union members would incur if they go on
strike.

Each member will receive an average of JPY180,000.

The Japanese automaker has been trying to turn its ailing
business around following a series of defect cover scandals,
which necessitated recalls involving hundreds of thousands of
vehicles for a range of defects.

CONTACT:

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


MITSUBISHI MOTORS: To Loosen Ties with DaimlerChrysler
------------------------------------------------------
Amid a weakened relationship with partner DaimlerChrysler,
Mitsubishi Motors Corporation (MMC) could soon reduce
cooperation with the German-U.S. auto giant, relates Agence
France Presse, citing the Handelsblatt newspaper.

MMC chief Hideyasu Tagaya confirmed Mitsubishi is waiving an
option to use common platforms with the U.S. unit Chrysler for
the production of medium-sized sedans.

On small car platforms, Mr. Tagaya said "we are only developing
the Mitsubishi model" at the moment, hinting that the alliance
with DaimlerChrysler might no longer be a priority.

Mr. Tagaya's statement confirmed last month's reports that MMC
has decided to reduce the scope of its business cooperation with
the German-U.S. company.

The reports came after DaimlerChrysler's refusal in April to
infuse more capital into the loss-making Japanese carmaker.


UFJ HOLDINGS: TSE Denies British FSA's Inquiry on Earnings Info
---------------------------------------------------------------
The Tokyo Stock Exchange declared it has not received any
inquiry from Britain's Financial Services Authority over an
earnings report by UFJ Holdings Incorporated, reports the Asia
Intelligence Wire.

The TSE denied a Nihon Keizai Shimbun report that the British
regulator has requested the TSE to explain whether there had
been any mishandling by the TSE in connection with UFJ Holdings'
disclosure of its financial results for the year ending March
2004.

UFJ Holdings announced on May 24 a financial result that is much
worse than the estimates it revealed on April 28.

According to the Nihon Keizai Shimbun, the British FSA is
interested to know whether the TSE has failed to check the
banking group's earnings estimates and results beforehand.

Earlier this month, UFJ Holdings was required by the regulator
to present a report explaining the discrepancies between its
forecasts and results.

CONTACT:

UFJ Holdings, Inc.
5-6, Fushimimachi 3-chome,
Chuo-ku, Osaka-shi,
Osaka 541-0044,
Japan
Web site: www.ufj.co.jp


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


DAEWOO INTERNATIONAL: Sells 20% of Daewoo Unitel to Germanos
------------------------------------------------------------
Daewoo International Corp. sold its 20 percent stake in Daewoo
Unitel for $14.7 million, to Germanos SA, reports Dow Jones.

The company's founder, Panos Germanos bought Daewoo Unitel's 100
percent stake priced at $73.5 million.  The Greek telecom group
along with other equity consortium, expected to consist of
Germanos, the European Bank for Reconstruction and Development
(EBRD), Greek venture capital and private equity firm Global
Finance and Panos Germanos, is funding the acquisition.

The proposed shareholding states that, Panos Germanos would be
the largest shareholder. Germanos SA would take a 20 percent
stake, while the EBRD would take a stake of no less than 7
percent.  Germanos SA said it has a five-year put option
enabling it to sell its stake after five years on predetermined
valuation terms.

The board of directors of EBRD is yet to clear Germanos'
investment.  The acquisition as a whole is subject to Uzbek
regulatory approval.

Unitel Co. is the second largest Uzbek mobile operator, with a
market share of above 25 percent, a margin of earnings before
interest, taxes, depreciation and amortization approaching 57
percent and has a projected revenue in 2004 of $32 million,
Germanos SA said.  Subscribers of Unitel are expected to exceed
110,000 by the end of 2004, Germanos added.

CONTACT:

Daewoo International Corporation (Korea: DWIC)
541 5-Ga Namdaemunno, Chung Gu, CPO Box 2810
Seoul, South Korea
Phone: +82-2-759-2114
Fax: +82-2-753-9489
Web site: http://www.daewoo.com


HANBO STEEL: FTC to OK Sale if INI Sells Other Facilities
---------------------------------------------------------
Fair Trade Commission (FTC) will give a go signal to INI Steel
in relation to its takeover of Hanbo Steel if the former sells
part of its steel bar production facility, reports Dow Jones.

"We ordered the steel maker to sell its Pohang 1 steel bar
pressing facilities within a year after the FTC's order to
prevent INI Steel to have a monopolistic position in the local
steel bar market after its acquisition of Hanbo Steel" Dow Jones
quoted the FTC as saying.

The deal is expected closed early this week, INI Steel added.  

Currently, INI Steel has an annual steel bar production capacity
of 3.3 million tons, while Hanbo Steel can produce 1.15 million
tons a year.

Posco, the world's largest steelmaker, dominates the local steel
market. The deal would help limit Posco's 67.5 percent presence
in the hot-rolled steel market.  Once Hanbo's production
facilities are normalized, about 12.5 percent would be taken up
from the local hot-rolled steel market.

A consortium comprising INI Steel and Hyundai Hysco (010520.SE)
purchased bankrupt steel maker Hanbo Steel in July for KRW877.1
billion.


KOOKMIN BANK: To Close Registry Book on October 1 to October 7
--------------------------------------------------------------
In a U.S. Securities and Exchange Commission filing, Kookmin
Bank announced that on September 15, 2004, it made public the
fixing of the record date for the shareholders and the closing
period of its shareholder registry book with respect to the
extraordinary shareholders' meeting scheduled on October 29,
2004 as follows.

Common stock holders registered in Kookmin Bank's shareholder
registry as of the record date, September 30, 2004, will be
entitled to exercise his or her voting right in the
shareholders' meeting. The shareholders may exercise their
voting rights in writing without attending the meeting in
person.

Then, Kookmin Bank will close its shareholders' registry book
from October 1, 2004 to October 7, 2004.

CONTACT:

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


KWANGJU BANK: Fitch Upgrades Individual Rating To 'C'
-----------------------------------------------------
Fitch Ratings, the international rating agency, has raised the
Individual rating of Kwangju Bank (KJB) to 'C' from 'C/D'.

KJB is a regional bank based in Kwangju and Jeonnam area in
South Korea.  At the same time, the agency also affirmed the
bank's Long-term rating of 'BBB-' (BBB minus), the Support
rating of '2' and the Short-term rating of 'F3'.  The Outlook on
all the ratings is Stable.

Fitch notes that the bank's credit ratings take into account the
bank's membership of the Woori Financial Group as well as its
standalone financial condition.

The upgrade of KJB's Individual rating reflects its improving
financial profile and relatively stable operating performance.
In the first half of 2004, the bank posted KRW58 billion of net
income with an annualized 31 percent return-on-equity (ROE) and
1.3 percent return-on-assets (ROA).  

Provision charges amounted to KRW29.6bn, or 0.57 percent of its
total loans, from KRW35bn in 1H03.  The bank's 1H04 bottom line
continued to benefit from tax loss carry forwards; KJB paid no
income tax in 1H04 and only amortized KRW1.3bn of deferred tax
assets then. Its sustainable net ROE is therefore expected to be
well below 31 percent, but still at an adequate level.

The bank's NPLs at June-2004 amounted to just 1.65 percent of
total credits. High reserve coverage (71.8 percent of NPLs at
June 2004) provides further comfort. KJB has some loans to large
corporates, including the Kumho Group, whose origins are in
Kwangju, but total exposure to larger corporates represented 3.4
percent of its total loans and it had no significant exposure to
distressed large corporations. The bank's performance in the
future is expected to depend largely on the performance of its
loans to SMEs and households.

Though there is sector-wide concern over rising SME lending
delinquency rates, KJB has experienced relatively stable
delinquencies, partly because of less volatile property market
conditions in Kwangju and Jeonnam.

CONTACT:

Kwangju Bank (The)
7-12 Daein-dong Dong-gu
Kwangju, Kwangju-shi 501-030
Korea (South)
Telephone: +82 62 239 5000
           +82 62 239 5199


LG INVESTMENT: Woori Board Approves 21.2% Stake Buy
---------------------------------------------------
Woori Finance Holdings has gained the approval of its board on
the planned acquisition of a 21.2 percent stake in LG Investment
& Securities Co., according to Dow Jones

Woori's board approved the purchase of 25.88 million shares of
LG Investment, according to a filing to the Financial
Supervisory Service.  However, the price of the stake was not
revealed. The exact cost and other terms will be finalized after
approval by creditors of LG Card Co. (032710.SE) this week.

A Korea Development Bank (KDB) official said that Woori Finance
agreed to pay KRW297 billion ($1=KRW1147.2) for the 21.2 percent
stake.  KDB is the lead manager of the sale and also leads the
bailout of LG Card.

LG Card avoided bankruptcy after creditors agreed on a KRW5
trillion bailout package early this year.

CONTACT:

LG Investment & Securities
20,Yoido-dong, Youngdungpo-gu
Seoul, 150-721, Korea
Telephone: 82-2-768-7000
Fax: 82-2-782-6337


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


ANTAH HOLDING: Court OKs Debt Restructuring Proposal
----------------------------------------------------
On behalf of the Board of Directors of Antah Holding Berhad,
Avenue Securities Sdn Bhd announced that the solicitors of the
Company had vide its letter dated 16 September 2004 informed
that the High Court of Malaya (Court) had on 14 September 2004
granted an order (Order) specifying, inter alia, the following:

(i) Antah is permitted to convene meeting of its creditors
(Creditors Meeting) pursuant to Section 176(1) of the Companies
Act, 1965 for the purpose of considering and if thought fit, to
approve with or without modifications the Proposed Debt
Restructuring; and

(ii) The Creditors' Meeting shall be held within 120 days from
the date of the Order.

The sealed Order is pending extraction from the Court.

CONTACT:

Antah Holdings Berhad
Level 7, Menara Milenium,
Jalan Damanlela,
Pusat Bandar Damansara,
Damansara Heights 50490
Kuala Lumpur
Telephone no: 03-20849000
Facsimile no: 03-20949940

This announcement is dated 16 September 2004.


AOKAM PERDANA: Appoints New Audit Committee Member
--------------------------------------------------
In a disclosure to the Bursa Malaysia Sercurities Berhad, Aokam
Perdana Berhad announced the appointment of Mohd Zulkhairis Bin
Mohd Zain as a new member of its audit committee.

Date of change: 16/09/2004  

Type of change: Appointment

Designation: Chairman of Audit Committee

Directorate: Independent & Non Executive

Name: Mohd Zulkhairis Bin Mohd Zain

Age: 36

Nationality: Malaysian

Qualifications: Bachelor of Science (Economics), London School
of Economics and Political Science, United Kingdom.

Working experience and occupation: July 1991 - December 1991:
Project Analyst, Petronas Berhad.

1991-1999: Numerous managerial positions held in Arthur
Andersen, Economic & Financial Consulting.

January 2000 - June 2000: Chief General Manager, Intria Berhad.

July 2000 - June 2002: Senior Manager heading the Capital
Markets & Project Finance Group, Andersen, Global Corporate
Finance.

July 2002 to-date: Managing Director of Asia Capital Alliance
Sdn Bhd

Directorship of public companies (if any): None

Family relationship with any director and/or major shareholder
of the listed issuer: None

Details of any interest in the securities of the listed issuer
or its subsidiaries: None
   
Composition of Audit Committee (Name and Directorate of members
after change): Mohd Zulkhairis Bin Mohd Zain -
Chairman/Independent Non-Executive Director

Tan Sri Dato' Samshuri Bin Haji Arshad -
Member/Independent Non-Executive Director

Peter Lee Pui Tet -
Member/Executive Director

CONTACT:

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


AOKAM PERDANA: Director Mohd Salleh Bin Zakaria Resigns
-------------------------------------------------------
Aokam Perdana Berhad announced the resignation of Dato' Mohd
Salleh Bin Zakaria as the Company's Non Executive Director.

Date of change: 16/09/2004  

Type of change: Resignation

Designation: Director

Directorate: Independent & Non Executive

Name: Dato' Mohd Salleh Bin Zakaria

Age: 56

Nationality: Malaysian

Qualifications: Bachelor of Arts in Mass Communication,
University Sains Malaysia;

Advanced Diploma in Development Administration, University of
Birmingham, United Kingdom

Masters in Development Administration (Economics), University of
Birmingham, United Kingdom.

Working experience and occupation: 1975-1976: Assistant
Secretary (in charge of Development), Ministry of Youth, Culture
and Sport.

1976-1977: Assistant Secretary (in charge of Development and
ASEAN), Ministry of Information.

1977-1979: Deputy Director, Ministry of Health.

1980-1982: Principal Assistant District Officer of Bukit
Mertajam, Penang, State Economic Planning Unit (SEPU) - State
Government of Penang.

1982-1983: Deputy Director in charge of Economic Development in
the Housing Sector, Industrial Sector, Agricultural Sector and
Manpower Sector, State Economic Planning Unit (SEPU) - State
Government of Penang.

1983 - 1988: Finance Manager in charge of the Corporate
Financial Planning, Sourcing and Maintenance of all projects
(housing infrastructure, industries and commercial agriculture),
Penang Regional Development Authority.

1989-1995: Principal Assistant Director in Industry Division,
Ministry of International Trade and Industry.

Directorship of public companies (if any): None

Family relationship with any director and/or major shareholder
of the listed issuer: None

Details of any interest in the securities of the listed issuer
or its subsidiaries: None
   
Remarks: Also resigning as:

1. Director of the subsidiary of Aokam Perdana Berhad namely,
Pembangunan Papan Lapis (Sabah) Sdn Bhd, Aokam Industries Sdn
Bhd, Pacific Wood Products Sdn Bhd and NuovaEra Sdn Bhd;

2. Chairman of the Audit Committee;

3. Member of the Nomination Committee; and

4. Member of the Remuneration Committee.


FABER GROUP: Grants Listing of 2,871,624 Ordinary Shares
--------------------------------------------------------
Faber Group Berhad's additional 2,871,624 new ordinary shares of
RM1.00 each issued pursuant to the Conversion of RM5,743,248
nominal value of 2000/2005 irredeemable convertible unsecured
loan stocks into 2,871,624 new ordinary shares will be granted
listing and quotation with effect from 9 a.m., Tuesday, 21
September 2004.

CONTACT:

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


GOLDEN FRONTIER: Posts Details of Shares Buy Back
-------------------------------------------------
Golden Frontier Berhad announced the details of its shares buy
back on September 16, 2004.

Date of buy back from: 02/09/2004

Date of buy back to: 15/09/2004

Total number of shares purchased (units): 35,800

Minimum price paid for each share purchased (RM): 0.690

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

Total amount paid for shares purchased (RM): 25,084.86

The name of the stock exchange through which the shares were
purchased: Bursa Malaysia Securities Berhad

Number of shares purchased retained in treasury (units): 35,800

Total number of shares retained in treasury (units): 1,066,300

Number of shares purchased, which were cancelled (units): 0

Total issued capital as diminished: 0

Date lodged with registrar of companies: 15/09/2004

Lodged by: Secretarialmasters Sdn Bhd

CONTACT:

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

INNOVEST BERHAD: Issues Notice of Share Registrar Change
--------------------------------------------------------
Innovest Berhad disclosed to Bursa Malaysia Securities
Berhad the details of the changes of its shares registrar.

Old registrar: Signet Share Registration Services Sdn. Bhd.

New registrar: Symphony Share Registrars Sdn. Bhd.
(Formerly known as Malaysian Share Registration Services Sdn.
Bhd.)

Address: Level 26, Menara Multi-Purpose, Capital Square, No. 8,
Jalan Munshi Abdullah, 50100 Kuala Lumpur.

Telephone No: 03-27212222

Facsimile No: 03-27212530 / 27212531

Effective date: 16/09/2004  

Remarks: Merger of Signet Share Registration Services Sdn. Bhd.
and Symphony Share Registrars Sdn. Bhd.

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


INTEGRATED RUBBER: AGM Set for October 12
-----------------------------------------
Integrated Rubber Corporation Berhad announced that its Sixty-
Third Annual General Meeting (AGM) will be held at East VIP
Lounge, Kuala Lumpur Golf & Country Club, No. 10, Jalan 1/70D,
Off Jalan Bukit Kiara, 60000 Kuala Lumpur on Tuesday, 12 October
2004 at 10 o'clock in the morning.

For further details, go to
http://bankrupt.com/misc/tcrap_integratedrubber091704.doc


MTD CAPITAL: Purchases 50,300 Ordinary Shares on Buy Back
---------------------------------------------------------
MTD Capital Berhad disclosed to Bursa Malaysia Securities Berhad
the details of its shares buy back on September 16, 2004.
   
Date of buy back: 16/09/2004

Description of shares purchased:  Ordinary shares of RM1/- each

Total number of shares purchased (units): 50,300

Minimum price paid for each share purchased (RM): 2.570

Maximum price paid for each share purchased (RM): 2.580

Total consideration paid (RM): 129,768.97

Number of shares purchased retained in treasury (units): 50,300

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

Cumulative net outstanding treasury shares as at to-date
(units): 2,798,300

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

CONTACT:

MTD Capital Berhad
Lot 8359, Mukim of Batu
Batu 8, Jalan Caves,
68100 Batu Caves,
Selangor Darul Ehsan,
Malaysia
Telephone: (603) 689-9022


NAUTICALINK BERHAD: Court Extends Order, Time for Meeting
---------------------------------------------------------
Further to the announcement on 17 June 2004, Public Merchant
Bank Berhad, on behalf of the Board of Directors of Nauticalink
Berhad, announced that the High Court of Malaya has, on 15
September 2004, granted an extension of time for a period of
four (4) months from 16 September 2004 until 15 January 2005 for
the restraining order to the Company and the court convened
meetings of shareholders and scheme creditors to be held.

This announcement is dated 16 September 2004.


PAN MALAYSIA: Completes Property Disposal
-----------------------------------------
Pan Malaysia Industries Berhad refers to its previous
announcements dated 7 May 2004 and 23 August 2004 in respect of
the Proposed Disposal of a piece of vacant freehold land held
under Geran Mukim 3181 (formerly EMR 4) Lot No. 301 in the Mukim
of Kuala Kuantan, District of Kuantan, Pahang Darul Makmur for a
cash consideration of RM4.0 million.

The Company announced that the Proposed Disposal was completed
on 15 September 2004 in accordance with the terms and condition
contained in the Sale and Purchase Agreement (S&P Agreement).

CONTACT:

Pan Malaysia Industries Berhad
14/F MUI Plaza, Jalan P. Ramlee,
50250 Kuala Lumpur
Malaysia
Telephone (60) 3244-1470
Fax  (60) 3244-7789


SUNWAY HOLDINGS: Unit Enters Joint Venture Agreement
----------------------------------------------------
The Board of Directors of Sunway Holdings Incorporated Berhad
(SunInc) announced that Sunway Construction Berhad (Suncon), a
subsidiary of the Company, had on 13 September 2004 entered into
a Joint Venture Agreement (JVA) with Mr Chang Kim Long and Mr
Khor Seng Yan, the Directors and Shareholders of Creative Stone
Sdn Bhd (CSSB) and Creative Stone Marketing Sdn Bhd (CSMSB).

The above parties are desirous of co-operating via a private
limited company known as Sunway Creative Stones Sdn Bhd
(formerly known as Sunway Geotechnic Sdn Bhd) ("JV Company") as
their joint venture vehicle to purchase and take over the
business of CSSB and CSMSB and thereafter to venture into
construction related stone business.

INFORMATION ON CSSB AND CSMSB

CSSB

CSSB is a company incorporated in Malaysia and having its
registered office at 27th Floor, Menara Promet, Jalan Sultan
Ismail, 50250 Kuala Lumpur. The principal activities of CSSB are
manufacturing, processing and fabrication marble, granite,
dimension stone and natural stone as well as trading in
construction materials and general contract works.

CSMSB

CSMSB is a company incorporated in Malaysia and having its
registered office at 27th Floor, Menara Promet, Jalan Sultan
Ismail, 50250 Kuala Lumpur. The principal activities of CSMSB
are marketing, supply and installation of dimension stone and
natural stone as well as general trading.

SALIENT TERMS OF THE JVA

Under the JVA, the paid-up share capital of the JV Company shall
eventually be increased from RM100,000/- to RM1,000,000/- and
the shareholding of the JV Company shall be structured as
follows:

Name of Shareholders     No. of Ordinary       Percentage (%)
                         Shares of RM1.00
                              each

Suncon                    510,000              51.00
Chang Kim Long            318,500              31.85
Khor Seng Yan             171,500              17.15

Total                    1,000,000             100.00

RATIONALE

The purpose of Suncon entering into the JVA is to venture into
stone-related construction business, which is growing with an
increasingly affluent population and this will complement its
core construction business.

SOURCE OF FUNDS

Suncon will fund its share of equity participation in the JV
Company through internally generated funds upon execution of the
JVA.

FINANCIAL EFFECTS

On Share Capital and Substantial Shareholders' Shareholdings

There will be no effect on the share capital and substantial
shareholders' shareholdings of SunInc as the JVA does not
involve any allotment or issuance of new shares by SunInc.

On Earnings and Net Tangible Assets

The JVA is not expected to have any immediate effect on the
earnings and net tangible assets of SunInc for the current
financial year ending 31 December 2004 but is expected to
contribute positively to the future earnings of the Group.

APPROVALS REQUIRED

The JVA is not subject to approval of the shareholders of SunInc
but is subject to approval from the relevant authority.

DIRECTORS' AND MAJOR SHAREHOLDERS' INTERESTS

Insofar as the Directors are aware, none of the directors or
major shareholders of SunInc or persons connected with them has
any interest, direct or indirect, in the JVA.

STATEMENT BY BOARD OF DIRECTORS

The Board of Directors of SunInc is of the opinion that the JVA
is in the best interest of the Group.

This announcement is dated 16 September 2004.


TANJONG PUBLIC: Issues Details of Principal Officer's Dealings
--------------------------------------------------------------
Tanjong Public Limited Company announced that it has been
notified pursuant to Paragraph 14.08(a) of the Listing
Requirements of Bursa Securities, by Yap Swee Hang, a Principal
Officer of the Company, of his intention to deal in the shares
of the Company during the Closed Period:

1. Date of notification: 16 September 2004.

2. Intention to dispose of 12,000 shares of 7.5 pence each on
the Bursa Securities.

3. Current holdings of Tanjong shares: 12,000 shares of 7.5
pence each representing 0.003% of the issued share capital of
Tanjong.

CONTACT:

Tanjong Public Limited Co.
Principal Office in Malaysia
Level 30, Menara Maxis
Kuala Lumpur City Centre
50088 Kuala Lumpur
Telephone: 03-23813388
Fax: 03-23813399


TENGGARA OIL: SC Extends Regularization Plan
--------------------------------------------
Tenggara Oil Berhad refer to its announcement dated 26 April
2004 wherein it was announced that the Securities Commission
(SC) had approved the Company's application for an extension of
time of six (6) months, i.e. until 28 September 2004 to submit a
comprehensive proposal to regularize its financial position.

In this respect, on behalf of the Company, AmMerchant Bank
Berhad announced that an application for a further extension of
time of six (6) months until 28 March 2005 for the submission of
a comprehensive proposal was submitted to the SC on 13 September
2004.

This announcement is dated 16 September 2004.


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


COLLEGE ASSURANCE: Signing of MOU Deferred
------------------------------------------
The signing of a memorandum of agreement (MOA) between College
Assurance Plan Philippines Inc. (CAP) and a local property
developer will have to wait for at least a few days pending the
finalization of the terms of the deal, the Philippine Star
reports. The name of the local investor was not mentioned in the
report.

A memorandum of agreement on an infusion of a 3,000-hectare
property was to be signed Thursday, according to a CAP
announcement on Wednesday. The company's lawyers and the
prospective investor agreed to the deferment to make the deal
"more tax efficient," the sources said.

The pre-need firm reported a net loss of Php1.68 billion for the
first half of the year, versus a net loss of Php330 million
during the same period last year, the TCR-AP reported recently.
This was attributed to the increase in trust fund contributions
and amortization of the increase in the actuarial reserve
liabilities.

The SEC earlier gave CAP until September 30 to bring in new
investors and address its financial problems.

CONTACT:

College Assurance Plans Phils. Inc.
CAP I Building
126 Amorsolo cor. Herrera Streets
Legazpi Vill., Makati City
Ph: 817-6586, 759-2000
Fax: (0632) 818-0560


COLLEGE ASSURANCE: Must Prove It Can Pay Claims, Says SEC Chief
---------------------------------------------------------------
College Assurance Plans Philippines Inc. (CAP) must first prove
it can meet obligations to plan holders before the Securities
and Exchange Commission approves its request to increase its
authority to sell plans by another Php1 billion, the Business
World reports, citing the SEC Chairman Fe Barin.

The SEC previously ordered the pre-need firm to stop selling
plans to investors until it renewed its license to sell
additional securities.

The SEC also noted that CAP had incurred a net loss of PhP1.68
billion for the first half, 398 percent more than the registered
net loss of PhP330 million for the same period last year, and 12
percent bigger than its projected loss of PhP1.5 billion for the
period.

Ms. Barin said while the SEC is "not sure" of CAP's capability
to meet its future liabilities, it is taking safeguards, like
making sure that trust fund requirements are met and that CAP
has enough capitalization.


NATIONAL POWER: DOF Defends US$1B Bond Offering
-----------------------------------------------
The Department of Finance (DOF) on Thursday defended the latest
US$1 billion bond offering in behalf of the National Power
Corporation (Napocor), the Business World reports, citing
Finance Undersecretary Nieves L. Osorio.

Ms. Osorio said the government had to immediately raise funds
for the power utility so that it could pay off debts due this
month. The additional income the Napocor would generate as a
result of the Energy Regulatory Commission's (ERC) decision to
grant its request for a rate increase would be insufficient to
pay those obligations.

The Philippines on September 9 sold US$300 million worth of
bonds due in 2015 at 8.875%, and US$700 million worth of bonds
maturing in 2025 at 10.625%. The government set a price guidance
of 98 for the 2015 bonds and 106 for the 2025 series.

Of the $1-billion bond proceeds, US$750 will be lent to Napocor
thereby completing its 2004 financing requirements while the
rest will be used to fund the country's budget requirements next
year.

CONTACT:

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


NATIONAL POWER: Business World Clarifies News Report
----------------------------------------------------
The Business World Newspaper (Online Edition) clarified the news
article entitled "Napocor to need US$16B yearly" published in
its September 9, 2004 issue.

The newspaper explained that the US$16 billion borrowing quoted
by the story from documents submitted to the Senate was actually
for the entire three-year period 2005-2007, and would not be a
yearly borrowing in the next three years, as was erroneously
stated in the story. The newspaper apologized for the editing
error.


NATIONAL STEEL: BSP OKs Sale If All Parties Execute Transactions
----------------------------------------------------------------
The Bangko Sentral ng Pilipinas (BSP) will sign a crucial
document necessary to close the sale of National Steel
Corporation (NSC) to Global Infrastructure Holdings Inc. (GIHI)
if all parties finally execute the transaction, reports the
Business World.

Creditor banks and GIHI have failed to seal the Php13.25 billion
transaction, as two pre-closing documents have yet to be signed.
One of the supposed pre-closing documents is a certificate of
eligibility from the BSP that the deal has complied with the
Special Purpose Vehicle Law.

The other is an agreement between secured creditors and state-
owned National Power Corp. on how outstanding liabilities to the
power firm would be paid.

National Steel's biggest creditor is the Philippine National
Bank, with Php5.639 billion. The second biggest creditor is
Credit Agricole Indosuez with Php1.687 billion.


PHILIPPINE LONG: Issues Additional Listing of Shares
----------------------------------------------------
The Philippine Stock Exchange (PSE) approved on June 14, 2000,
the application submitted by Philippine Long Distance Telephone
Company (PLDT) to list additional 1,289,745 common shares, with
a par value of Php5.00 per share, to cover the Executive Stock
Option Plan (ESOP) of the Company, at an exercise price of
Php814.00 per share.

In this connection, please be advised that a total of 19,388
common shares have been availed of and fully paid by the
optionees under the Company's ESOP.

In view thereof, the listing of the 19,388 common shares is set
for Monday, September 20, 2004. This brings the number of common
shares listed under the ESOP to a total of 245,988 common
shares.

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

For your information and guidance,

MARIA ISABEL T. GARCIA
Head, Listings Department

JURISITA M. QUINTOS
Senior Vice President- Operations Group

CONTACT:

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


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


EURO-ASIA: Enters Winding Up Proceedings
----------------------------------------
In the matter of Euro-Asia Chartering Corporation, a Winding Up
order was made on the 3rd day of September 2004.

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

Ang & Partners
Solicitors for the Petitioners
150 Beach Road
#32-00 The Gateway West
Singapore 189720

This Singapore Government Gazette notice is dated September 15,


HUP AIK: Issues Second and Final Dividend Notice
------------------------------------------------
Hup Aik Huat Trading Pte Ltd., a company in liquidation, issued
a dividend notice at the Singapore Government Gazette on
September 15, 2004.

Address of Registered Office: c/o 10 Collyer Quay
#21-01 Ocean Building Singapore 049315

Court: High Court of Singapore

Number of Matter: 31 of 2002/H

Amount per centum: 0.18 cents per Dollar

First and final or otherwise: Second and Final Dividend

When payable: 16th September 2004

Where payable: 10 Collyer Quay
#23-05 Ocean Building
Singapore 049315


HUP AIK: Issues Third and Final Dividend Notice
-----------------------------------------------
Hup Aik Huat Industries Pte Ltd., a company in liquidation, has
posted a notice of dividend at the Singapore Government Gazette
on September 16, 2004.

Address of Registered Office: c/o 10 Collyer Quay
#21-01 Ocean Building Singapore 049315

Court: High Court of Singapore

Number of Matter: 35 of 2002/A

Amount per centum: 0.18 cents per Dollar

First and final or otherwise: Third and Final Dividend

When payable: 16th September 2004

Where payable: 10 Collyer Quay
#23-05 Ocean Building
Singapore 049315


INTIQUA INTERNATIONAL: Creditors Meetings Set on September 30
-------------------------------------------------------------
Take notice that a meeting of creditors of Intiqua International
Pte Ltd., will be held at 18 Cross Street, #08-01 Marsh &
McLennan Centre, Singapore 048423 on the 30th of September 2004
at 3:30 p.m.

Agenda

(1) To consider and if thought fit

(a) to appoint a committee of inspection and
(b) to accept the validity of the charges.

(2) Any other business.

Dated this 15th day of September 2004.

Chee Yoh Chuang
Liquidator
c/o Chio Lim & Associates
18 Cross Street #08-01
Marsh & McLennan Centre
Singapore 048423

This Singapore Government Gazette Notice is dated September 15,
2004.


INTIQUA INTERNATIONAL: Contributories Meeting Set September 30
--------------------------------------------------------------
Take notice that a meeting of contributories of Intiqua
International Pte Ltd will be held at 18 Cross Street, #08-01
Marsh & McLennan Centre, Singapore 048423 on the 30th of
September 2004 (Thursday) at 2.30 pm.

Agenda

(1) To consider and if thought fit
   (a) to appoint a committee of inspection; and
   (b) to accept the validity of the charges.

(2) Any other business.

Chee Yoh Chuang
Liquidator
c/o Chio Lim & Associates
18 Cross Street #08-01
Marsh & McLennan Centre
Singapore 048423

This Singapore Government Gazette notice is dated September 15,
2004.


NEPTUNE ORIENT: Temasek Now Owns Majority Stake
-----------------------------------------------
Temasek Holdings is now the majority stockholder of Neptune
Orient Lines (NOL) after it raised its stake above the minimum
50 percent, making its SG$2.8 billion takeover offer
unconditional. The Strait Times reports

The move once more sparked speculations of the probable
privatization of NOL.

Temasek, however, reiterated that there are no major plans in
the pipeline for NOL.  Temasek is extending the SG$2.8 per share
offer for another fourteen days to give other NOL shareholders
an opportunity to accept its offer, which was launched last
August 3 and will be closed at 3:30 p.m. on September 29.

Had Temasek failed to get a 50 percent stake of NOL, the offer
would have lapsed and the acceptances to the offer would have
been returned.

An additional 57.2 million NOL shares on the open market and
received acceptances raised the Singapore investment firm's
stake to 50.99 percent barely before the closing of the offer.

CONTACT:
Neptune Orient Lines Limited
456 Alexandra Rd., NOL Bldg.
119962 Singapore
Phone: +65-6278-9000
Fax: +65-6278-4900
http://www.nol.com.sg


NEPTUNE ORIENT: Options Converted to Shares
-------------------------------------------
Lim How Teck, Neptune Orient Lines' (NOL) chief finance officer,
has exercised his options by picking up 300,000 shares and
converting them on Wednesday at an exercise price of SG$2.14 per
share, relates the Singapore Business Times.

He has now raised his stake in NOL by 0.02 percent to 301.089
from 1,089 shares. Mr. Lim and his wife Rosalind had been
selling their shares in the company over the past few weeks.  

Mrs. Lim has sold her remaining 800,000 NOL shares at SG$2.81
per share, while Mr. Lim disposed of his 105,000 shares in the
open market, which left him with 1,089 shares.


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


EASTERN WIRE: Reports to SET on Share Volatility
------------------------------------------------    
Reference is made to the letter of the Stock Exchange of
Thailand (SET) informing Eastern Wire Public Company Limited to
explain the primary causes on the value or volume of the company
traded shares that recently volatile, the Company would like to
inform the SET that:

(1) On August 4, 2004, the Company reported to the SET the
progress of the affiliate's Debt Restructuring with Sukhumvit
Asset Management Co. Ltd., reflecting a profit from the debt
restructuring of THB96,585,024.88 (Ninety six million five
hundred and eighty five thousand and twenty four Baht and eighty
eight Sa Tang);

(2) On August 23, 2004, the Company has reported to the SET the
increased capital spending amounting to THB60,632,560.00 ( Sixty
million six hundred thirty two thousand and five hundred sixty
Baht).

As mentioned above, the Company's book value had been reflected
as of June 30th 2004 from THB7.19 per share to THB10.84 per
share.  The above two items took place after the close of the
Company's account for the second quarter of 2004, which may
cause the investors to invest into the Company shares.

In addition, at the same time the Company shares were re-traded.
The value and volume of the stocks traded in the Thai market
have continuously increased along with the new shares in the
same business sector put into the Thai stock market.

The Company would like to inform that the Company has nothing to
do with the volatility of the Company's shares upon its price
and volume traded in the stock market.

Please be informed accordingly
Sincerely,
(Mr. Sontaya Noichaloen)
Chief Operation Officer
Eastern Wire Public Company Limited

CONTACT:

Eastern Wire Pcl   
Rasa Tower, Room 1201-1203,
555 Phaholyothin Road,
Chatu Chak Bangkok    
Telephone: 0-2937-0058-66   
Fax: 0-2937-0067


KRUNG THAI: Former President's Reappointment Still Vague
--------------------------------------------------------
The Ministry of Finance has cancelled its campaign for the
comeback of Krung Thai Bank Public Company Limited's (KTB)
President, Viroj Nualkhair, according to The Nation.

With Krung Thai Bank still wanting to complete a probe into the
THB46 billion controversial loans, Finance Minister Somkid
Jatusripitak decided to back out on lobbying for the comeback of
the former president.

Earlier, a report suggested that Mr. Somkid wanted Mr. Viroj
reappointed as president so the bank could settle down and get
back to concentrating on its business.  Mr. Viroj's three-year
tenure at the bank's helm ended recently, but his reappointment
to the bank has been marred by a scandal over non-performing
loans at the bank. The bank was forced to set aside THB10
billion to cover some THB46 billion in doubtful loans.

On Thursday, Somchainuek Engtrakul, permanent secretary for
finance sought to downplay his role as mediator between the
Finance Ministry and the central bank for Mr. Viroj's
reappointment as president.

"We should give the governor more time to review the
qualifications of Khun Viroj," said Mr. Somchainuek. "If he
disagrees [with Viroj's reappointment], the bank would have to
search for a new president."

Mr. Somchainuek added that Mr. Somkid had not been involved in
attempts to have Mr. Viroj reappointed to KTB.

Bank of Thailand Governor MR Pridiyathorn Devakula suggested
that KTB management should send to the banking authorities a
report on the 12 loans worth THB46 billion which has been
clasified as doubtful within one month.  Only one of the 12
cases has been forwarded to the Central Bank and did not further
informed when the full report would become available.

Mr. Pridiyathorn, denied reports that he has something to do
with Mr. Viroj's reappointment as the bank's president.

"I am rather puzzled about the news. I have never called Khun
Viroj for a talk. So how can I get involved in the appointment
of KTB's management?" he asked rhetorically.

The decision on Mr. Viroj's reappointment may have to wait until
Khun Tarisa Watanagase, the bank's deputy governor comes back
from a foreign trip, Mr. Pridiyathorn concluded.

CONTACT:

Krung Thai Bank Public Company Limited   
35 Sukhumvit Road, Khlong Toei Nua, Wattana Bangkok    
Telephone: 0-2255-2222   
Fax: 0-2255-9391-6   
Web site: www.ktb.co.th
  

THAI PETROCHEMICAL: SET Says Share Hike May Exceed Expectation
--------------------------------------------------------------
The Stock Exchange of Thailand (SET) sent out a warning to
retail investors about excessive speculation in the 44 percent
rise of Thai Petrochemical Industry Public Company Limited's
(TPI) shares, reports the Bangkok Post.  

TPI shares rose nearly 44 percent over the past month, compared
with a 10.9 percent gain in the broad SET index.  Shares in the
petrochemical giant closed at THB9.45 Thursday, up 25 satang, on
trade worth one billion baht, while the SET index ended the day
at 662.39 points, up 0.11, on active trading worth 26.69 billion
baht.

The run up in TPI shares are attributed to the near completion
of its long-awaited debt restructuring as well as the increase
in global energy prices.

Sopawadee Lertmanaschai, a SET executive vice-president, said it
remained unclear what benefits the restructuring plan would have
for either TPI or its shareholders.

Local brokers and securities analysts were asked by the SET to
examine the potential impact of TPI's restructuring plan to
enable investors determine the right decision regarding the
stock.  Local brokers have also been asked to monitor and advise
investors speculating in TPI stock about the potential risks.  A
caution may also be placed on TPI's securities to help warn
investors.

"So far, it's only rumours and news reports that have been
fueling the run-up in share prices. The SET is concerned that
retail investors could be placed at risk," Mrs. Sopawadee said.

CONTACT:

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


THAI WAH: Issues Changes In Head Office Address
-----------------------------------------------
Please be informed that effective September 16, 2004, the
registered address of Thai Wah Public Company Limited's (TWC)
head office has been changed from 21/63-66 Thai Wah Tower, 21st-
22nd floor, South Sathorn, Tungmahamek, Sathorn, Bangkok 10120
to 21/63-64, 21/66A, 21/68 Thai Wah Tower I, 21st, 22nd, 24th
floor, South Sathorn, Tungmahamek, Sathorn, Bangkok 10120.  The
telephone and fax numbers remain unchanged.

Sincerely yours,
(Mr. Kuan Chiet)  
Thai Wah Public Company Limited
by Thai Wah Group Planner Company Limited
as the Plan Administrator


                            *********


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
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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
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                 *** End of Transmission ***