/raid1/www/Hosts/bankrupt/TCRAP_Public/040930.mbx
T R O U B L E D C O M P A N Y R E P O R T E R
A S I A P A C I F I C
Thursday, September 30, 2004, Vol. 7, No. 194
Headlines
A U S T R A L I A
ACGS LIMITED: To Hold Final Meeting on October 15
ALASKO HOLDINGS: Issues Notice of Annual Meeting
COMINDICO AUSTRALIA: Receivers Push Ahead with Sale
COMMERCIAL MUTUAL: Final Meeting of Members Set October 15
EASTERN SUBURBS: Members Meeting Slated for October 15
GLOBAL ASSET: Sets October 14 as Date of Final Meeting
GULF GORGES: Schedules Final Meeting on September 30
HIPX PTY: Final Meeting Slated for October 15
HWN PROPERTIES: Issues Notice of Members Meeting
INTERFIT PTY: Issues Notice of Members and Creditors Meeting
JAMES HARDIE: CEO and CFO Stand Aside
JOHN BROWNING: Members Final Meeting Slated for October 1
JUNE PTY: Sets Members Final Meeting on October 15
MEDIA WORLD: Owes Terrain Capital AU$200,000
NATIONAL AUSTRALIA: Hunt for New CIO Begins
RETAVILLE PTY: Members and Creditors Meeting Set October 11
SIRRAH INVESTMENTS: To Hold Final Meeting on October 8
UNDERWOOD DEVELOPMENT: To Declare Dividend on October 28
VIVAZ INTERNATIONAL: Sets October 12 as Date of Members Meeting
C H I N A & H O N G K O N G
CENTURY MAIN: Creditors, Contributories Meeting Set October 8
CHI SHING: Court to Hear Winding Up Petition
HEROMAN LIMITED: Winding Up Hearing Set October 20
IKINGKONG.COM LIMITED: Enters Winding Up Proceedings
WINGO HONGKONG: Winding Up Hearing Scheduled October 27
I N D O N E S I A
BANK NEGARA: Government Shelves Divestment Plan
MERPATI NUSANTARA: State Wants To Probe Debt Before Rehab
SEMEN GRESIK: Foreign, Local Investors Eye Stake
J A P A N
DAIKYO INCORPORATED: IRCJ Decides to Aid Revival
DAIKYO INCORPORATED: To Post JPY260-Billion in Special Losses
HITACHI LIMITED: U.S. Unit To Fire 100 Workers
JAPAN AIRLINES: Mulls 5% Fare Hike Next Year
K.K. SRE: Enters Bankruptcy
MITSUBISHI MOTORS: Recalls Additional 10,848 Cars
SOJITZ HOLDINGS: Reduces Directors' Compensation
UFJ HOLDINGS: Group Realigns Business and Capital
K O R E A
KOOKMIN BANK: CMS to Commence in October
M A L A Y S I A
ANCOM BERHAD: Purchases 19,000 Ordinary Shares on Buy Back
AYER HITAM: Issues Default Status Update
HUME INDUSTRIES: Disposes of 14,400 Ordinary Shares in Tasek
INTAN UTILITIES: Releases Default Status Update
KYM HOLDINGS: Unveils 2004 Quarterly Report
MANGIUM INDUSTRIES: Posts August 2004 Production Figures
METROPLEX BERHAD: Releases FY04 Unaudited Quarterly Report
MTD CAPITAL: Issues Shares Buy Back Notice
NAIM INDAH: Unveils Production Figures for August 2004
SAPURA TECHNOLOGY: Releases Unaudited Quarterly Report
SURIA CAPITAL: Updates Privatization Proposal
SYARIKAT KAYU: SC OKs Debt Settlement Extension
TANCO HOLDINGS: Issues Practice Note 1/2001 Update
P H I L I P P I N E S
DIGITAL TELECOMMUNICATIONS: Clarifies "Tycoon Eyes Stake" Report
DMCI HOLDINGS: Posts Changes in Beneficial Securities
METRO PACIFIC: Clarifies Business World News
NEXTSTAGE INC.: To List Additional 400,000 Common Shares
PHILIPPINE LONG: Details Shareholder's Interest Notice
S I N G A P O R E
ASIA EAST: Posts Final Dividend Notice
CANSPAR PRIVATE: Issues Dividend Notice
HAI SIANG: Enters Winding Up Proceedings
MAST INDUSTRIES: Creditors to Prove Claims by October 24
NEPTUNE ORIENT: Paulson & Co Reduces Stake
NEPTUNE ORIENT: Shareholder's Interest Ceases
NEPTUNE ORIENT: Posts Change in Director's Interest
NEPTUNE ORIENT: Change in Temasek Holdings' Interest
NEPTUNE ORIENT: Posts Notice of Change in Shareholder's Interest
REPAST SINGAPORE: Creditors to Submit Claims by October 24
TOP GLOBAL: Appoints New Executive
T H A I L A N D
KRUNG THAI: Issues Clarification to News Report
NATURAL PARK: Clarifies Sale of PMR's Share
THAI DURABLE: Issues Report on Status of Project
THAI PETROCHEMICAL: Thai Refinery Eyes Major Shareholding
- - - - - - - -
=================
A U S T R A L I A
=================
ACGS LIMITED: To Hold Final Meeting on October 15
-------------------------------------------------
Notice is given that a final meeting of members and creditors of
ACGS Limited (in liquidation) will be held at the offices of
Ernst & Young, Level 20, 321 Kent Street, Sydney NSW 2000 on
October 15, 2004 at 11:00 a.m.
The purpose of the meeting is to lay an account 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 25th day of August 2004
Kenneth John Rennie
Liquidator
ACGS Limited (In Liquidation)
Ernst & Young
Level 16, 321 Kent Street,
Sydney NSW 2000.
Telephone: (02) 9248 5971
ALASKO HOLDINGS: Issues Notice of Annual Meeting
------------------------------------------------
Notice is given that an Annual Meeting of Members and Creditors
of Alasko Holdings Pty Limited (In Liquidation) will be held in
the Boardroom of Jessup & Partners, 1st Floor, 488 Mulgrave
Road, Earlville Qld on October 15, 2004 at 11:00 a.m.
AGENDA
(1) To receive an account made up by the Liquidator showing how
the winding up has been conducted, how the property of the
company has been disposed of, and to receive any explanation
required thereof.
(2) To approve the remuneration of the Liquidator.
(3) Any other business.
Dated this 27th day of August 2004
I. D. Jessup
Liquidator
COMINDICO AUSTRALIA: Receivers Push Ahead with Sale
---------------------------------------------------
Cisco-appointed receivers of failed telecommunications firm
Comindico Australia Pty Ltd. have decided to go ahead with an
urgent sale of the business, reports The Advertiser.
After three days of negotiations, receivers McGrathNicol have
finally secured the short-term future of Comindico by forging a
deal with Comindico's main suppliers to continue services to the
company.
Cisco Systems, Comindico's long time vendor financier, called in
McGrathNicol on Thursday after Comindico's board appointed
administrators Ferrier Hodgson Wednesday last week.
Cisco, which is owed about AU$80 million by Comindico, has an
equity share in the failed telco, which gave it the right to
appoint a receiver.
Murray Smith and Tony McGrath of McGrathNicol and Partners had
reached an accord with Comindico's key suppliers for continuity
of supply, ensuring the company could continue to operate as
usual throughout the sale process.
The company's sale as a going concern was advertised yesterday.
"We are extremely pleased with the co-operation from suppliers
which should enable Comindico to trade as normal during the sale
process," Mr. Smith said.
"The level of interest from potential purchasers has been
significant. A detailed information memorandum is currently
being prepared and will be available to interested parties as
part of the sale process," he added.
CONTACT:
Comindico Australia Pty Ltd.
Level 15, 201 Kent Street
Sydney NSW 2000
Australia
GPO Box N800 Grosvenor Place
NSW 1220
Australia
Telephone: +61 2 8220 6000
Fax: +61 2 9252 6864
COMMERCIAL MUTUAL: Final Meeting of Members Set October 15
----------------------------------------------------------
Notice is given that a general and final meeting of members of
Commercial Mutual Pty Ltd will be held at the offices of
Johnston Rorke, Level 5, 255 Adelaide Street, Brisbane, Qld,
4000 on Wednesday, October 15, 2004 at 10:00 o'clock.
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 7th day of September 2004
Nigel Fischer
Johnston Rorke
Level 5, 255 Adelaide Street,
Brisbane Qld 4000
EASTERN SUBURBS: Members Meeting Slated for October 15
------------------------------------------------------
Notice is hereby given that a meeting of the Members of Eastern
Suburbs Auto Rentals Pty Limited (In Liquidation) will be held
at Hall Chadwick Level 29, 31 Market Street, Sydney NSW 2000 on
the 15th of October 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 the 15th of
October 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.
Geoffrey Mcdonald
Liquidator
c/- Hall Chadwick
Level 29, 31 Market Street,
Sydney NSW 2000
GLOBAL ASSET: Sets October 14 as Date of Final Meeting
------------------------------------------------------
Notice is given that a final meeting of members of Global Asset
Management (Australia) Pty Limited (In Liquidation) will be held
at the offices of Ernst & Young, Level 16, 321 Kent Street,
Sydney NSW 2000 on 14 October 2004 at 10:00 a.m.
The purpose of the meeting is to lay an account 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 Liquidators.
Dated this 7th day of September 2004
Keiran Hutchison
Liquidator
Global Asset Management (Australia) Pty Limited (In
Liquidation)
Ernst & Young
Level 16, 321 Kent Street,
Sydney NSW 2000.
Telephone: (02) 9248 5194
GULF GORGES: Schedules Final Meeting on September 30
----------------------------------------------------
Notice is hereby given that the final meeting of members of Gulf
Gorges Pty Ltd (In Voluntary Liquidation) will be held at the
offices of McGuiness, Cramb & Brown Accountants, West Street,
Mount Isa, Queensland 4825 on the 30th of September 2004 at 4:00
p.m.
The purpose of the meeting is to lay an account before it,
showing the manner in which the winding up has been conducted
and the property of the company disposed of and giving any
explanation of the account.
Dated this 31st day of August 2004
Alan Mathieson
Company Secretary
Gulf Gorges Pty Ltd (In Voluntary Liquidation)
HIPX PTY: Final Meeting Slated for October 15
---------------------------------------------
Notice is hereby given that a meeting of the Members and
Creditors of Hipx Pty Limited (In Liquidation) will be held at
Hall Chadwick Level 29, 31 Market Street, Sydney NSW 2000 on the
15th of October 2004 at 10:30 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 the 15th of
October 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.
Geoffrey Mcdonald
Liquidator
c/- Hall Chadwick
Level 29, 31 Market Street,
Sydney NSW 2000
HWN PROPERTIES: Issues Notice of Members Meeting
------------------------------------------------
Notice is hereby given that a meeting of the Members of HWN
Properties Pty Limited (In Liquidation) will be held at Hall
Chadwick Level 29, 31 Market Street, Sydney NSW 2000 on October
12, 2004 at 11:30 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 October 12, 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.
Dated this 27th day of August 2004
Geoffrey Mcdonald
Liquidator
c/- Hall Chadwick
Level 29, 31 Market Street,
Sydney NSW 2000
INTERFIT PTY: Issues Notice of Members and Creditors Meeting
------------------------------------------------------------
Notice is hereby given that an final meeting of Creditors and
Members of Interfit Pty Ltd will be held at the offices of
Nicols & Brien Level 2, 350 Kent Street, Sydney on the 11th of
October 2004 at 10:00 a.m. for the purpose of laying before the
meeting an account of the liquidator's acts and dealings and of
the conduct of winding up.
Dated this 30th day of August 2004
Steven Nicols
Liquidator
Nicols & Brien
Level 2, 350 Kent Street,
Sydney NSW 2000
Web site: www.bankrupt.com.au
JAMES HARDIE: CEO and CFO Stand Aside
-------------------------------------
In a disclosure to the Australian Stock Exchange the Board of
James Hardie Industries NV announced that it has reviewed the
report of the Special Commission of Inquiry into the
establishment of the Medical Research and Compensation
Foundation.
The Board and management acknowledge the seriousness of
Commissioner Jackson's findings. The Board notes the recently
announced investigation by ASIC into the circumstances of James
Hardie's creation of the Foundation to compensate victims of
asbestos-related illnesses in February 2001. James Hardie will
co-operate with this investigation.
The Board has taken steps to address matters raised in the
Commissioner's report, while also ensuring the business
continues to perform well in the interests of shareholders and
all other stakeholders (including current and future asbestos
claimants, employees, contractors and business partners) who are
dependent on the continued financial strength of the company.
Effective immediately, Mr. Peter MacDonald is standing aside as
Chief Executive Officer and Mr. Peter Shafron is standing aside
as Chief Financial Officer. An acting CEO and CFO will be
appointed. The Board expects to make announcements in respect
of these appointments in due course.
To preserve business continuity, Mr. MacDonald has agreed to be
responsible for the business operations of James Hardie. He
will remain based in the United States. Mr. MacDonald's
position will be reviewed as matters surrounding the
Commissioner's report and the ASIC investigation become clearer.
Mr. Shafron's future role with the company is currently under
consideration by the Board but it is planned that he will
undertake a number of projects for the company, outside the
CFO's function, in both the United States and the Netherlands.
Mr. Shafron's position will also be reviewed as matters
surrounding the Commissioner's report and the ASIC investigation
become clearer.
As previously announced, the Special Committee of the Board will
continue to oversee all matters relating to asbestos
compensation and the Commissioner's report.
James Hardie Chairman, Meredith Hellicar, said the company had
the will and the capacity to address a key finding the
Commissioners' report which stresses the need to develop a means
of sustainable long-term compensation for asbestos disease
sufferers.
"James Hardie acknowledges the moral obligations it has to
legitimate claimants. We will seek to work with the ACTU, as
requested by Premier Carr, to develop a solution that is in the
interests of claimants, shareholders and all parties that rely
on James Hardie for their livelihood, income or well-being," Ms.
Hellicar said.
The chairman also welcomed the clarification of some disputed
matters put before the Commission, including the rationale for
establishing the Medical Research and Compensation Foundation
and the re-domicile of the holding company to the Netherlands.
"In these areas in particular, the Commissioner's findings do
not support many of the allegations made against the company
during the course of the Commission," she said.
CONTACT:
For corporate and media enquiries only, please contact:
James Hardie Industries
Web site: http://www.jameshardie.com.au/
Greg Baxter
Executive Vice President
Level 3, 22 Pitt Street
Sydney NSW 2000
Telephone: (02) 8274 5305
Fax: (02) 8274 5218
Mobile: 0419 461 368
Steve Ashe
Vice President Investor Relations
Telephone: (02) 8274 5246
Fax: (02) 8274 5218
Mobile: 0408 164 011
Julie Sheather
Vice President Public Affairs
Telephone: (02) 8274 5206
Fax: (02) 8274 5218
Mobile: 0409 514 643
All other inquires to CustomerLink Service Centre on 13 1103.
JOHN BROWNING: Members Final Meeting Slated for October 1
---------------------------------------------------------
Notice is hereby given that a Final Meeting of the members of
John Browning Pty Ltd (In Liquidation) will be held at the
offices of RSM Bird Cameron, Chartered Accountants, 1st Floor, 8
St George's Terrace, Perth, on the 1st day of October 2004 at
10:00 a.m.
AGENDA
(1) To lay before the meeting the Liquidator's account showing
how the winding up has been conducted and how the property of
the company has been disposed of, and giving any explanation
thereof.
(2) Any other business.
Dated this 23rd day of August 2004
A. A. Gaffney
Joint & Several Liquidator for John Browning Pty Ltd
RSM Bird Cameron
Chartered Accountants
8 St George's Terrace,
Perth WA 6000
Telephone: (08) 9261 9100
JUNE PTY: Sets Members Final Meeting on October 15
--------------------------------------------------
Notice is given that a general and final meeting of members of
June Pty Ltd will be held at the offices of Johnston Rorke,
Level 5, 255 Adelaide Street, Brisbane, Qld, 4000 on Wednesday,
October 15, 2004 at 10:00 o'clock.
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 7th day of September 2004
Nigel Fischer
Johnston Rorke
Level 5, 255 Adelaide Street,
Brisbane Qld 4000
MEDIA WORLD: Owes Terrain Capital AU$200,000
--------------------------------------------
A group of creditors revealed Media World Communications owes
almost AU$200,000 to broking and corporate advisory firm Terrain
Capital, relates The Age.
Media World Chairman Michael Ramsden, who is also a director of
Terrain Capital, last week appointed Craig Crosbie of insolvency
agency PBB to probe on Media World's affairs, after discovering
the Adams Platform compression technology fiasco.
However, some shareholders consider the board's decision to
place the company into administration was hasty, and merely
served to cash out creditors, most of whom were directors and
former directors of Media World.
Inventor of the "breakthrough compression technology", Adam
Clark, is reportedly being owed AU$25,600 through a shareholding
in Adams Laboratories Pty Ltd.
Meanwhile, Media World claimed that Mr. Clark and his associates
have collected AU$16 million from consulting fees and the sale
of the technology.
The company's deputy chairman John Tatoulis declared he is owed
about AU$85,000 through private company Jilbandi, while former
Media World directors Paul Salter and Adrian Jensen and former
Damovo executive Marco Marcou are entitled to a combined
AU$78,000.
CONTACT:
Media World Communications Limited
Level 8 , 99 William Street ,
Melbourne , Victoria,
Australia, 3000
Telephone: (03) 8610 0400
Fax: (03) 8610 0488
Web site: http://www.mwc.net.au/
NATIONAL AUSTRALIA: Hunt for New CIO Begins
-------------------------------------------
National Australia Bank is set to name a Chief Information
Officer for its Australian operations after CIO Ian Crouch left
last month, says The Australian.
Mr. Crouch, who was appointed in 2002, was replaced by former
Australian financial services executive general manager Ian
MacDonald.
Last month, however, Mr. Macdonald was tasked to bring an
"operational perspective to the development and implementation
of information technology within the National", which brought
about the need to hire a CIO who will report to Australian chief
executive Ahmed Fahour and Mr. Macdonald.
A NAB spokeswoman said the hunt for a new CIO was "well
advanced".
On Tuesday, Mr. Fahour announced the first in a series of new
appointments to lead the integration of the Australian
businesses.
Ewen Stafford was named as Chief Financial Officer, Australia.
George Frazis (formerly from the Commonwealth Bank) has been
appointed Head of Business Development, Australia, effective
November 8.
Greg Sutherland (previously with Boston Consulting) has been
appointed Head of Strategy & Marketing, Australia, effective
October 4.
Kevin Turnbull (formerly with Hutchison Telecoms) has been
appointed Head of Operational Integration, effective October 11.
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
RETAVILLE PTY: Members and Creditors Meeting Set October 11
-----------------------------------------------------------
Notice is hereby given that meetings of the Members and
Creditors of Retaville Pty Ltd will be held at Hall Chadwick
Level 29, 31 Market Street, Sydney NSW on Friday October 11,
2004 at 4:00 p.m.
The meetings will be Annual General Meeting and Final Meeting in
accordance with Section 508 and 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 October 11, 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 companies on completion of all duties.
(3) Any other business.
Richard Albarran
Liquidator
c/- Hall Chadwick
Level 29, 31 Market Street,
Sydney NSW 2000
SIRRAH INVESTMENTS: To Hold Final Meeting on October 8
------------------------------------------------------
A final meeting of the members of Sirrah Investments Pty Ltd (In
Liquidation) will be held at Alfords, 26 Railway Street,
Southport Qld 4215 on October 8, 2004 at 11:00 a.m. for the
liquidator to lay before the meeting his account showing how the
winding up has been conducted and the company's property
disposed of, and to give an explanation of such account.
Dated this 30th day of August 2004
Michael Gibbons
Liquidator
Sirrah Investments Pty Ltd
UNDERWOOD DEVELOPMENT: To Declare Dividend on October 28
--------------------------------------------------------
A First and Final dividend is to be declared on the 28th of
October 2004 for Underwood Development Pty Ltd (In Liquidation).
Creditors whose debts or claims have not already been admitted
are required on or before 14th October 2004 to formally prove
their debts or claims. If they do not they will be excluded from
the benefit of the dividend.
Dated this 24th day of August 2004
Max Donnelly
Official Liquidator
Ferrier Hodgson
Level 17, 2 Market Street,
Sydney NSW 200
VIVAZ INTERNATIONAL: Sets October 12 as Date of Members Meeting
---------------------------------------------------------------
Notice is hereby given that a meeting of the Members of Vivaz
International Pty Limited (In Liquidation) will be held at Hall
Chadwick Level 29, 31 Market Street, Sydney NSW 2000 on 12
October 2004 at 11:00 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 October 12, 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.
Dated this 27th day of August 2004
Geoffrey Mcdonald
Liquidator
c/- Hall Chadwick
Level 29, 31 Market Street,
Sydney NSW 2000
==============================
C H I N A & H O N G K O N G
==============================
CENTURY MAIN: Creditors, Contributories Meeting Set October 8
-------------------------------------------------------------
Century Main Investments Limited, in Liquidation, will hold a
creditors and contributories meeting on October 8, 2004
(Friday).
Creditors: 4:00 p.m.
Contributories: 3:00 p.m.
Address: 17th Floor, Hutchison House, 10 Harcourt Road, Central,
Hong Kong.
Stephen Liu Yiu Keung
Joint and Several Provisional Liquidator
This announcement is dated September 24, 2004.
CHI SHING: Court to Hear Winding Up Petition
--------------------------------------------
Notice is hereby given that a Petition for the winding up of Chi
Shing Fat International Trading Company Limited by the High
Court of Hong Kong Special Administrative Region was on the 13th
day of September 2004 presented to the said Court by Bank of
China (Hong Kong) Limited whose registered office is situated at
14th Floor, Bank of China Tower, 1 Garden Road, Hong Kong.
The said Petition will be heard before the Court at 9:30 am on
the 20th 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.
Tony Kan & Co
Solicitors for the Petitioner
Suite 1408, Hang Seng Building
No. 77 Des Voeux Road Central
Hong Kong
Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention 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 19th day of
October 2004.
HEROMAN LIMITED: Winding Up Hearing Set October 20
--------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Heroman Limited by the High Court of Hong Kong Special
Administrative Region was on the 1st day of September 2004
present to the said Court by Bank of China (Hong Kong) Limited
whose registered office is situated at 14th Floor, Bank of China
Tower, 1 Garden Road, Hong Kong.
The said Petition will be heard before the Court at 9:30 am on
the 20th 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.
W. I. Cheung & Co
Solicitors for the Petitioner
Rooms 2505-10, Wing On House
71 Des Voeux Road Central
Hong Kong
Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention 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 19th day of
October 2004.
IKINGKONG.COM LIMITED: Enters Winding Up Proceedings
----------------------------------------------------
Notice is hereby given that a Petition for the winding up of
Ikingkong.Com (H.K.) Limited by the High Court of Hong Kong
Special Administrative Region was on the 1st day of September
2004 presented to the said Court by Grand Monrovia Enterprises
Limited whose registered office is situated at the Top Floor,
Chinachem Golden Plaza, 77 Mody Road, Tsimshatsui East, Kowloon,
Hong Kong.
The said Petition will be heard before the Court at 10:00 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.
Ford, Kwan & Company
Solicitors for the Petitioner
Suites 1505-1508, 15th Floor, Chinachem Golden Plaza
No. 77 Mody Road
Kowloon, 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.
WINGO HONGKONG: Winding Up Hearing Scheduled October 27
-------------------------------------------------------
Notice is hereby given that a Petition for the winding up of
Wingo Hong Kong Limited by the High Court of Hong Kong Special
Administrative Region was on the 17th day of September 2004
presented to the said Court by:
Pai Pi Yuan
10th Floor, No. 98, Min Chuan Road,
Hsin Tien, Tai Pei, Taiwan,
Republic of China, ROC
Tseng Hui
39G, Hang King Garden,
9 Wing Fung Road, Kwai Fung,
New Territories, Hong Kong
Yen Pei Mu
5th Floor, No. 1 Lane 130,
Chao Chou Street, Tai Pei, Tai Wan,
Republic of China, ROC
The said Petition will be heard before the Court at 9:30 am on
the 27th 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.
Cheng Wong Lam & Partners
Solicitors for the Petitioners
Room 1105-9, Jardine House
1 Connaught Place, Central
Hong Kong
Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention 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 26th day of
October 2004.
=================
I N D O N E S I A
=================
BANK NEGARA: Government Shelves Divestment Plan
-----------------------------------------------
Minister for State Enterprises Laksamana Sukardi decided to
scrap plans to seek approval from the House of Representatives
to divest 30 percent of Bank Negara Indonesia (BNI), relates
Asia Pulse.
In a hearing with the House Tuesday, Mr. Laksamana said he is
leaving the divestment decision to the new government.
The newly elected president Susilo Bambang Yudhoyono and his new
administration will take over outgoing president Megawati
Soekarnoputri next month.
Earlier, the state and the House have reached an agreement to
sell the government's 30-percent stake in BNI to help narrow the
country's widening budget deficit.
Laksamana, however, ensured the cancellation of the plan will
not cause financial problems, as the government had reaped funds
from the divestment of other state assets such as Bank Permata.
To date, the state has generated IDR3.5 trillion (US$388.9
million) in privatization proceeds, well short of the IDR5
trillion target.
CONTACT:
Pt Bank Negara Indonesia Terbuka
Jalan Jenderal Sudirman Kav 1
Jakarta, 10220
Indonesia
Phone: +62 21 2511946
+62 21 2511214
Web site: http://www.bni.co.id
MERPATI NUSANTARA: State Wants To Probe Debt Before Rehab
---------------------------------------------------------
The government has called for a special auditing of state-owned
Merpati Nusantara Airlines before approving its proposal for
debt restructuring, says Asia Pulse.
The Indonesian government has requested the ailing airline
undergo a special audit to determine why Merpati has such huge
debts.
"We will conduct an audit to find out what had really happened
which had caused a negative equity of the airline company, and
how to settle it," Director General of Finance Institutions
Darmin Nasution said after a hearing with Commission IX of the
House of Representatives (DPR) in Jakarta on Monday.
Mr. Darmin said it is only after the audit that the government
would be able to determine whether or not the airline's debts
should be restructured.
Currently, Merpati owes the state IDR225 billion, Garuda
Indonesia IDR246.7 billion, and Bank Mandiri IDR230.3 billion.
Under its debt-restructuring scheme, Merpati had asked the
government to convert the debt into participation capital to be
paid after the divestment of part of its shares to strategic
investors.
CONTACT:
Merpati Nusantara Airlines
Jl. Angkasa Blok B-15 Kav. 2-3
Jakarta 10720 - Indonesia
Phone: (021) 6548888
Fax: (021) 6540620
E-mail: marketing@merpati.co.id
SEMEN GRESIK: Foreign, Local Investors Eye Stake
------------------------------------------------
The 25.5-percent stake of Cemex Asia in state-owned cement
producer PT Semen Gresik has drawn the interests of several
foreign and local investors, reports Asia Pulse.
Minister for State Enterprises Laksaman Sukardi confirmed the
investors are interested to acquire the stake although none has
formally submitted a proposal. He added that if none of the
investors are serious in buying the stake, the government plans
to purchase it by using pension funds.
Originally, Cemex had an option to purchase a controlling stake
in Gresik but the state, pressured by a management rebellion at
Gresik's unit PT Semen Padang, backed out of the deal.
The Indonesian government and Cemex have been at loggerheads
ever since.
Cemex already sought international arbitration to settle its
protracted dispute with the government.
CONTACT:
Pt Semen Gresik Tbk
Jalan Veteran
Gresik 61122
Indonesia
Phone: +62 31 398 1731-2/1745
Fax: +62 31 398 3209/3972 2264
Web site: http://www.americanstandard.com/
=========
J A P A N
=========
DAIKYO INCORPORATED: IRCJ Decides to Aid Revival
------------------------------------------------
The Industrial Revitalization Corporation of Japan (IRCJ) will
help rehabilitate struggling Daikyo Incorporated, Kyodo News
reports.
The ailing condominium builder will be the first firm among UFJ
bank's big troubled borrowers to undergo restructuring under the
public bailout mechanism.
The IRCJ decision clears the way for Daikyo's early
rehabilitation and for accelerating a bad-loan clean-up for UFJ
Holdings ahead of a planned merger with Mitsubishi Tokyo
Financial Group.
Under the bailout scheme, Daikyo will reduce its JPY65 billion
capital by 99.2 percent.
The rescue package will be the second one for Daikyo after a
JPY470 billion bailout in 2002 from main creditor UFJ bank and
other lenders.
CONTACT:
Daikyo Incorporated
24-13 Sendagaya 4-Chome
Sendagaya No. 21 Daikyo Building
Shibuya-Ku 151-8506, Tokyo 151-8506
Japan
Phone: +81 3 3475 1111
Fax: +81 3 3475
Web site: http://www.daikyo.co.jp/
DAIKYO INCORPORATED: To Post JPY260-Billion in Special Losses
-------------------------------------------------------------
Daikyo Incorporated announced Tuesday it would book a JPY260
billion (US$2.35 billion) in restructuring loss this fiscal
year, relates Reuters.
The embattled condominium builder will be undergoing
rehabilitation after the state-backed Industrial Revitalization
Corporation of Japan (IRCJ) agreed to get involved in the firm's
revival scheme.
Daikyo said the special restructuring loss would entail a large
downward revision in its earnings forecasts for the current
financial year and that it would publish new estimates as soon
as the figures have been finalized.
HITACHI LIMITED: U.S. Unit To Fire 100 Workers
----------------------------------------------
Hitachi Electronic Devices, the U.S. subsidiary of Hitachi
Limited, plans to cut 100 jobs in its second layoff in less than
a year, Dow Jones reveals.
"Market forces have battered all the color picture tube, PRT
(projection ray tube), and television makers as the consumer
electronics business consolidates and continues to face
hypercompetition and price erosion," the Company said Monday in
a statement.
Hitachi, which manufactures projection ray tubes for big-
screened televisions at its Greenville plant in South Carolina,
in December dropped 220 workers from its Greenville facility and
at a Norcross, Georgia sales office.
The layoff will leave the unit with 400 employees.
Hitachi Limited, which began operating in Greenville in 1990, is
based in Tokyo and employs around 326,000 workers.
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
JAPAN AIRLINES: Mulls 5% Fare Hike Next Year
--------------------------------------------
Japan Airlines Corporation and All Nippon Airways Company
Limited proposed to wage a 5-percent fare hike on Japan-Europe
routes starting January 15, Bloomberg reports.
Japan's two biggest airlines agreed on the fare rises at a
meeting with global airlines body International Air Transport
Association (IATA) earlier this month. Both firms will implement
the plan next year upon approval from the government.
The plan to raise airfares is the second since July when both
airlines hiked up their fares on all international routes by 5
percent.
Japan Airlines, All Nippon and other carriers are emerging from
a sluggish demand for air travel caused by last year's SARS
epidemic.
In May, Japan Airlines forecasted a net income of JPY36 billion
for the current business year ending March 31, 2005, after a
last year's loss. The company also aims to slash JPY17 billion
in operating expenses and save JPY4 billion by reducing
frequency of flights on certain routes in order to cover higher
fuel costs.
Meanwhile, an ANA spokesman said IATA member firms aim to agree
on fare hikes on Japan-U.S. and other routes by late November.
K.K. SRE: Enters Bankruptcy
---------------------------
According to Teikoku Databank America, K.K. Sre has entered
bankruptcy with total liabilities of US$175 million. The firm,
engaged in office space leasing, is based in Yokohama-shi,
Kanagawa 222-0033.
For more information, visit http://www.teikoku.com/.
MITSUBISHI MOTORS: Recalls Additional 10,848 Cars
-------------------------------------------------
Mitsubishi Motors Corporation is recalling additional 10,848
Chariot and Minica cars for free repair of defective parts and
faulty engine shafts, Bloomberg says.
Subject to the recall are vehicles manufactured between 1992 and
1999.
The scandal-hit automaker has taken back 200,000 this year in
Japan, aside from the 2 million vehicles it recalled in 2000 and
2001.
Mired by a series of defect cover-up scandals, Mitsubishi Motors
is trying to rebuild its image ahead of a planned launch of its
Colt compact car next month. It will be the first new model to
be introduced to the public in 16 months. The launching is part
of the carmaker's plan to return to profits after receiving a
JPY496 billion (US$4.5 billion) bailout earlier this year.
Yesterday, the firm ran an advertisement to explain measures
taken to improve quality, including the appointment of an
executive tasked to monitor each model the firm sells.
Mitsubishi Motors has refrained from advertising since June.
CONTACT:
Mitsubishi Motors Corporation
2-16-4 Konan, Minato-ku
Tokyo, 108-8410, Japan
Phone: +81-3-6719-2111
Fax: +81-3-6719-0014
Web site: http://www.mitsubishi-motors.co.jp
SOJITZ HOLDINGS: Reduces Directors' Compensation
------------------------------------------------
Following an announcement titled "Notice Concerning the Sojitz
Group's New Business Plan" by Sojitz Holdings Corporation
(Sojitz Holdings) on September 8, 2004, Sojitz Holdings and its
consolidated subsidiary Sojitz Corporation have resolved to
reduce their directors' compensation and to change the
representative directors of Sojitz Corporation, at the meetings
of their Board of Directors held Tuesday.
This is to clarify the management responsibility for the write-
off of an amount totaling approximately 400 billion yen in the
current fiscal year ending March 31, 2005 and the expected
financial aid.
To view the full release, click on:
http://bankrupt.com/misc/TCRAP_SOJITZHOLDINGS092904.pdf
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
Web site: http://www.sojitz.com
UFJ HOLDINGS: Group Realigns Business and Capital
-------------------------------------------------
The UFJ Group has on Tuesday determined the realignment of
business and capital between UFJ Bank Limited (UFJ Bank) and UFJ
Trust Bank Limited (UFJ Trust) as set forth below.
This action aims to realize early enhancement of capital
adequacy ratio of UFJ Bank by utilizing capital available within
the group effectively as well as improving efficiency in
operations and credit risk management.
(1) Centralized management of large borrowers
UFJ Group shall transfer and integrate a part of operations of
UFJ Trust related to large borrowers to UFJ Bank as early as
possible in the second half of fiscal year 2004.
Through centralization of planning, following up and other
processes on revitalization and disposal scheme of large
borrowers, UFJ group seeks to improve efficiency in operations
and credit risk management.
As for the actual scheme of transfer, UFJ is considering a
corporate split subject to receiving approvals from relevant
authorities. An announcement will be made upon determination of
details.
The planned integration of corporate lending business between
UFJ Bank and UFJ Trust scheduled in July 2005 will be reviewed
in the course of discussions for a management integration with
Mitsubishi Tokyo Financial Group, Inc.
(2) Reallocation of capital within UFJ Group
In light of the centralization of large borrowers to UFJ Bank as
explained above and in order to realize early enhancement of
capital adequacy ratio of UFJ Bank, UFJ Group is to reallocate
capital from UFJ Trust to UFJ Bank by the end of September 2004.
To be more precise, UFJ Holdings, Inc. (UFJ Holdings) will
subscribe JPY80 billion of nonvoting preferred shares issued by
UFJ Bank. Thereby capital adequacy ratio of UFJ Bank on non-
consolidated basis and consolidated basis are expected to
improve by approximately 0.5% and 0.4% respectively to as much
as mid to higher 8%. UFJ Bank is thus prepared for the transfer
of loan assets from UFJ Trust in the second half of fiscal year
2004 as well as securing adequate capital ratio as an
international standard bank. On the other hand, capital ratio of
UFJ Trust will decrease by more than 2% to approximately 8% in
the process of relevant funds provision to UFJ Holdings.
This arrangement does not affect the consolidated capital ratio
of UFJ Holdings because the process is a reallocation of capital
within UFJ Group.
(Outline of the new share issuance by UFJ Bank)
(1) Name and type of shares: Class G Preferred Shares Series 1
(Nonvoting preferred share)
(2) Method of issue: Subscription by UFJ Holdings
(3) Issue price: JPY 200 per share
(4) Number of shares issued: 400,000,000
(5) Aggregate amount of issue: JPY 80 billion
(6) Amount to be credited to Capital: JPY 100 per share
(7) Deadline for application for subscription:September 29, 2004
(8) Deadline for payment: September 29, 2004
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
=========
KOOKMIN BANK: CMS to Commence in October
----------------------------------------
Kookmin Bank is upgrading its corporate banking business in
preparation for its competition with Citibank, Asia Pulse
reports, citing Yonhap News.
Citibank Korea Inc. is the entity formed by a merger between
KorAm Bank and Citibank's Seoul branch. The bank will start its
operations in October. The opening would be considered an era
of greater competition in the corporate banking sector.
"Capitalizing on its strengths, Citibank is likely to approach
the corporate banking sector aggressively, vying fiercely with
domestic banks," a bank official said, requesting anonymity.
In order to better compete with Citibank, a global leader in
cash management service (CMS) sector, Kookmin would test-run an
electronic CMS for its corporate customers starting next month.
After the trial run, the bank will expand the service to all
corporate customers around the end of this year, Kookmin said.
The bank's new service will be the first among other domestic
banks.
CMS will link Kookmin's computer system with companies. The
link would allow corporate clients to manage deposits and
withdrawals without having to visit its branches.
The move to shift to CMS from traditional lending is strategic
since an increasing number of companies now bank on bonds and
stocks to raise funds, the official added.
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
===============
M A L A Y S I A
===============
ANCOM BERHAD: Purchases 19,000 Ordinary Shares on Buy Back
----------------------------------------------------------
Ancom Berhad announced the details of its shares buy back on
September 29, 2004.
Date of buy back: 28/09/2004
Description of shares purchased: Ordinary shares of RM1.00 each
Total number of shares purchased (units): 19,000
Minimum price paid for each share purchased (RM): 0.775
Maximum price paid for each share purchased (RM): 0.785
Total consideration paid (RM):
Number of shares purchased retained in treasury (units): 19,000
Number of shares purchased which are proposed to be cancelled
(units):
Cumulative net outstanding treasury shares as at to-date
(units): 4,868,700
Adjusted issued capital after cancellation (no. of shares)
(units):
CONTACT:
Ancom Berhad
Level 14, Uptown 1
No. 1 Jalan SS21/58
Damansara Uptown
47400 Petaling Jaya
Selangor
Telephone: 03-77252888
Fax: 03-77257791
Web site: http://www.ancom.com.my
AYER HITAM: Issues Default Status Update
----------------------------------------
Ayer Hitam Tin Dredging Malaysia Berhad issued a monthly update
on its default status in respect of its two wholly owned
subsidiaries namely Pembinaan AHT Sdn Bhd and Motif Harta Sdn
Bhd on September 29, 2004.
The Company announced that there has been no new development
since the last announcement made on 27 August 2004. Negotiation
with the lenders is still on going. The Company is still hopeful
of a mutual settlement on the outstanding payment.
CONTACT:
Ayer Hitam Tin Dredging Malaysia Berhad
No 8 Jalan Raja Chulan
Kuala Lumpur, 50200
MALAYSIA
+60 3 2031 9633
+60 3 2031 6920
HUME INDUSTRIES: Disposes of 14,400 Ordinary Shares in Tasek
------------------------------------------------------------
Hume Industries (Malaysia) Berhad (HIMB) disposed of, through
the open market, a total of 14,400 ordinary shares of RM1.00
each in Tasek Corporation Berhad, representing approximately
0.01% of the issued and paid-up share capital of Tasek (Tasek
Shares), for a total cash consideration of RM37,274.70 (after
deduction of brokerage and stamp duty charges) (Disposal). The
proceeds will be utilized for working capital purposes.
The original cost of investment of HIMB shares acquired during
the financial years 1997 to 2003 was RM102,496.19. Based on the
accounting policy on short term investments, the Tasek Shares
were written down to RM36,720.00 as at 30 June 2004.
Consequently, the Disposal will result in a marginal gain of
RM554.70 at the HIMB Group level. However, the Disposal will not
have any material impact on the HIMB Group's net tangible assets
and earnings per share for the financial year ending 30 June
2005.
YBhg Tan Sri Quek Leng Chan is a Director of HIMB and a deemed
substantial shareholder of HIMB and Tasek. Mr Quek Leng Chye, a
deemed substantial shareholder of HIMB and Tasek, also has
direct interest in HIMB. Mr Kwek Leng San, a Director of HIMB,
Mr Quek Leng Chye and YBhg Tan Sri Quek Leng Chan are brothers.
Save as disclosed, the Company is not aware of any of its other
Directors, major shareholders and persons connected with them
having any interest, direct or indirect, in the Disposal.
The Disposal is not subject to the approval of shareholders or
any governmental authority.
The Board of Directors of the Company is of the opinion that the
Disposal is in the best interest of the HIMB Group.
CONTACT:
Hume Industries (Malaysia) Berhad
18 Jalan Perak
Kuala Lumpur, 50450
MALAYSIA
+60 3 2164 2631
+60 3 2164 2514
This announcement is dated 28 September 2004.
INTAN UTILITIES: Releases Default Status Update
-----------------------------------------------
Further to the announcement dated 27 August 2004 and pursuant to
Paragraphs 9.02 and 9.04 (1) of the Listing Requirements and
Practice Note No. 1/2001 of the Bursa Malaysia Securities
Berhad, Intan Utilities Berhad announced the summary of the
borrowings in default and the steps taken to address the
defaults by IDS Electronics Sdn. Bhd. and IDS Technology Sdn
Bhd, 70% effectively-owned subsidiaries of the Company.
For more details, go to
http://bankrupt.com/misc/tcrap_intan092904.xls
CONTACT:
Intan Utilities Berhad
11th Floor Menara Berjaya,
KL Plaza, 179 Jalan Bukit Bintang,
55100 Kuala Lumpur
Telephone: 03-2935 8888
Fax: 03-29358043
Website: http://www3.jaring.my/intan
KYM HOLDINGS: Unveils 2004 Quarterly Report
-------------------------------------------
In a disclosure to Bursa Malaysia Securities Berhad, KYM
Holdings Berhad released its quarterly report for the financial
period ended July 31, 2004.
SUMMARY OF KEY FINANCIAL INFORMATION
31/07/2004
INDIVIDUAL PERIOD CUMULATIVE PERIOD
CURRENT YEAR PRECEDING YEAR CURRENT YEAR PRECEDING YEAR
QUARTER CORRESPONDING TO DATE CORRESPONDING
QUARTER PERIOD
31/07/2004 31/07/2003 31/07/2004 31/07/2003
RM'000 RM'000 RM'000 RM'000
1 Revenue
19,940 17,213 38,932 32,225
2 Profit/(loss) before tax
-1,978 -2,283 -3,655 -5,603
3 Profit/(loss) after tax and minority interest
-2,150 -2,287 -4,195 -5,833
4 Net profit/(loss) for the period
-2,150 -2,287 -4,195 -5,833
5 Basic earnings/(loss) per shares (sen)
-2.65 -5.59 -5.17 -14.25
6 Dividend per share (sen)
0.00 0.00 0.00 0.00
AS AT END OF AS AT PRECEDING
CURRENT FINANCIAL YEAR
QUARTER END
7 Net tangible assets per share (RM)
0.1700 0.2200
CONTACT:
KYM Holdings Berhad
No. 12, Lorong Medan Tunku Satu,
50300 Kuala Lumpur, Malaysia
Tel: 603-2692 2923
Fax: 603-2692 9186
MANGIUM INDUSTRIES: Posts August 2004 Production Figures
--------------------------------------------------------
Mangium Industries Berhad announced the following monthly
production figure for the month of August 2004 in compliance
with Paragraph 9.29 of the Chapter 9 of the Bursa Malaysia
Securities Berhad Listing Requirements:
M3
Mangium Sawmill Sdn. Bhd. (Formerly known as Kilang Papan Dasatu
Sdn. Bhd.)
1. Production of sawn timber
2. Production of finger joint timber
TOTAL
Mangium Plantations Sdn. Bhd. (Formerly known as Serisar Forest
Plantation & Products Sdn. Bhd.)
1. Production of logs 25,637-53
TOTAL 25,637-53
CONTACT:
Mangium Industries Berhad
2nd Floor Menara MAA
6 Lorong Api-Api 1
88000 Kota Kinabalu
Sabah
Tel: 6088-315000
Fax: 6088-312213
This announcement is dated 28 September 2004.
METROPLEX BERHAD: Releases FY04 Unaudited Quarterly Report
----------------------------------------------------------
In a disclosure to Bursa Malaysia Securities Berhad, Metroplex
Berhad released its quarterly report for the financial period
ended July 31, 2004.
SUMMARY OF KEY FINANCIAL INFORMATION
31/07/2004
INDIVIDUAL PERIOD CUMULATIVE PERIOD
CURRENT YEAR PRECEDING YEAR CURRENT YEAR PRECEDING YEAR
QUARTER CORRESPONDING TO DATE CORRESPONDING
QUARTER PERIOD
31/07/2004 31/07/2003 31/07/2004 31/07/2003
RM'000 RM'000 RM'000 RM'000
1 Revenue
67,496 65,355 140,473 125,099
2 Profit/(loss) before tax
-25,865 -28,904 -24,616 -60,658
3 Profit/(loss) after tax and minority interest
-22,523 -23,518 -30,112 -49,225
4 Net profit/(loss) for the period
-22,523 -23,518 -30,112 -49,225
5 Basic earnings/(loss) per shares (sen)
-2.50 -2.61 -3.34 -5.46
6 Dividend per share (sen)
0.00 0.00 0.00 0.00
AS AT END OF AS AT PRECEDING
CURRENT FINANCIAL YEAR
QUARTER END
7 Net tangible assets per share (RM)
0.1600 0.2000
CONTACT:
Metroplex Berhad
1st Floor Wisma Equity
150 Jalan Ampang
50450 Kuala Lumpur,
Malaysia
Telephone: 03-2618911
Auditor: P C Chan & Partners
MTD CAPITAL: Issues Shares Buy Back Notice
------------------------------------------
MTD Capital announced the details of its shares buy back on
September 28, 2004.
Date of buy back: 28/09/2004
Description of shares purchased: Ordinary shares of RM1/- each
Total number of shares purchased (units): 80,000
Minimum price paid for each share purchased (RM): 2.530
Maximum price paid for each share purchased (RM): 2.550
Total consideration paid (RM): 203,528.00
Number of shares purchased retained in treasury (units): 80,000
Number of shares purchased which are proposed to be cancelled
(units):
Cumulative net outstanding treasury shares as at to-date
(units): 3,106,800
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
NAIM INDAH: Unveils Production Figures for August 2004
------------------------------------------------------
The Board of Directors of Naim Indah Corporation Berhad
(formerly known as Arus Murni Corporation Berhad) announced the
timber logs production of its wholly owned subsidiary Jernih
Makmur Sdn Bhd (which owns a Timber Concession located at Hutan
Simpanan Lebir, Mukim of Relai, District of Chiku, Jajahan Gua
Musang, Kelantan Darul Naim) for the month of August 2004 was
5,409.63M3.
CONTACT:
Naim Indah Corporation Berhad
Jalan Kampar Off Jalan Tun Razak
50400 Kuala Lumpur
Malaysia
Phone: +60 3 4043 9411
SAPURA TECHNOLOGY: Releases Unaudited Quarterly Report
------------------------------------------------------
In a disclosure to Bursa Malaysia Securities Berhad, Sapura
Technology Berhad released its quarterly report for the
financial period ended July 31, 2004.
SUMMARY OF KEY FINANCIAL INFORMATION
31/07/2004
INDIVIDUAL PERIOD CUMULATIVE PERIOD
CURRENT YEAR PRECEDING YEAR CURRENT YEAR PRECEDING YEAR
QUARTER CORRESPONDING TO DATE CORRESPONDING
QUARTER PERIOD
31/07/2004 31/07/2003 31/07/2004 31/07/2003
RM'000 RM'000 RM'000 RM'000
1 Revenue
421,658 239,838 724,399 404,473
2 Profit/(loss) before tax
15,535 -50,822 21,281 -49,211
3 Profit/(loss) after tax and minority interest
-3,719 -48,670 -4,548 -48,159
4 Net profit/(loss) for the period
-3,719 -48,670 -4,548 -48,159
5 Basic earnings/(loss) per shares (sen)
-2.30 -30.20 -2.80 -29.90
6 Dividend per share (sen)
0.00 0.00 0.00 2.00
AS AT END OF AS AT PRECEDING
CURRENT FINANCIAL YEAR
QUARTER END
7 Net tangible assets per share (RM)
0.9600 1.0200
SURIA CAPITAL: Updates Privatization Proposal
---------------------------------------------
Further to Suria Capital Holdings Berhad's announcement dated 1
September 2004 (whereby the Company had announced that the take
over date of the seven (7) ports under the jurisdiction of Sabah
Ports Authority would fall on 1 September 2004), the Company
had, on 28 September 2004, paid an amount of RM147 million in
cash to the Sabah State Government, representing the remaining
balance of the fixed sum consideration of RM210 million for the
Proposed Privatization of the seven ports.
Pursuant to clause 5.1 of the Business Sale Agreement dated 23
September 2003, which states that the sale and purchase shall be
completed within twenty-one (21) working days from the take over
date, Aseambankers Malaysia Berhad (Aseambankers), on behalf of
Suria, announced that the Proposed Privatization has been
completed on even date.
CONTACT:
Suria Capital Holdings Berhad
Kompleks Karamunsing Km 2.4 Jalan Tuaran
Kota Kinabalu, Sabah, Sabah 88300
MALAYSIA
+60 88 256 736
+60 88 256 410
This announcement is dated 28 September 2004.
SYARIKAT KAYU: SC OKs Debt Settlement Extension
-----------------------------------------------
PM Securities Sdn Bhd, on behalf of Syarikat Kayu Wangi Berhad
(SKW), announced that the Securities Commission (SC), via its
letter dated 27 September 2004 (which was received on 28
September 2004) approved a six (6) month extension of time from
4 October 2004 to 4 April 2005 to implement the Rights Issue
with Warrants, Debt Settlement and Private Placement.
c.c. Attn: En. Kris Azman Abdullah
Securities Commission
CONTACT:
Syarikat Kayu Wangi Berhad
Bt 6, Jalan Yong Peng/Muar,
83710 Batu Pahat,
Johor Darul Takzim,
Malaysia.
Tel: (607) 484 6388
484 6184
484 6194
484 6459
Fax: (607) 484 6355
E-mail: skwb@tm.net.my
This announcement is dated 28 September 2004.
TANCO HOLDINGS: Issues Practice Note 1/2001 Update
--------------------------------------------------
Further to the announcement made by Tanco Holdings Berhad on 26
August 2004 in relation to the status of default in payment
pursuant to Practice Note 1/2001, the Company wishes to inform
that there is no change to the status of default in payment of
interest to the Lenders since then.
The Company has taken steps towards rectifying the default by
working on a debt-restructuring scheme under Section 176 of the
Companies Act (the Scheme) to be approved by its creditors.
CONTACT:
Tanco Holdings Berhad
Jalan Desa, Bandar Country Homes,
48000 Rawang, Selangor
Malaysia
Telephone (60) 3 691 3388
Fax (60) 3 691 3108
=====================
P H I L I P P I N E S
=====================
DIGITAL TELECOMMUNICATIONS: Clarifies "Tycoon Eyes Stake" Report
----------------------------------------------------------------
This is in reference to the news article entitled "HK tycoon
said to be eyeing stake in Philippine Telecom" published in the
September 29, 2004 issue of the Philippine Daily Inquirer
(Internet Edition).
The article reported that "(a)SIA'S richest businessman, Hong
Kong-based tycoon Li Ka-shing, is on the lookout for investment
opportunities in the Philippine telecommunications sector,
Inquirer sources said. One of Li Ka-shing's companies, Hutchison
Telecommunications International, a unit of Hutchison Whampoa
Ltd., is in informal talks with Digital Telecommunications
Philippines Inc. (Digitel), the phone firm of Chinese-Filipino
magnate John Gokongwei, the sources said. Market talk on the
Hong Kong billionaire's interest pushed up the Digitel share
price starting late last week. `Talk about Hutchison buying into
Digitel provided some excitement to market players,' a trader
said. Profit taking brought the price down Tuesday to P0.83 from
P0.88 on Monday. Digitel president Lance Gokongwei immediately
dismissed the talk as mere rumor. `Really, that's just a rumor,'
he said. He did not elaborate."
Digital Telecommunications Phils., Inc. (DGTL), in its letter to
the Philippine Stock Exchange dated September 29, 2004, stated
that:
" We would like to reiterate the statement of our President &
CEO, Mr. Lance Y. Gokongwei that said information on the news
article is only a `mere rumor' and that Digitel is not involved
in any informal talk with Hutchison Telecommunications
International."
For your information.
MA. PAMELA D. QUIZON-LABAYEN
Head, Disclosure Department
JURISITA M. QUINTOS
Senior Vice President - Operations Group
CONTACT:
Digital Telecommunications Inc.
Digitel Building
110 E. Rodriguez Jr. Avenue
110 Bagumbayan, Quezon City
Telephone Number: 397-8888
Fax Number: 635-6142
Email Address: pamintuan_b@ditsi.com.ph
Website: http://www.digitelone.com
DMCI HOLDINGS: Posts Changes in Beneficial Securities
-----------------------------------------------------
Further to Circular for Brokers No. 3806-2004 dated August 25,
2004, a Director of DMCI Holdings, Inc. (DMC) furnished the
Exchange a copy of his SEC Form 23-B (Statement of Changes in
Beneficial Ownership of Securities).
A copy of the said document shall be made available at
http://bankrupt.com/misc/tcrap_dmci092904.pdf
For your information.
MA. PAMELA QUIZON-LABAYEN
Head, Disclosure Department
JURISITA M. QUINTOS
Senior Vice President - Operations Group
CONTACT:
DMCI Holdings Inc.
3/F, Dacon Building
2281 Chino Roces Ave. Ext.
Makati City 1231
Tel. No: 888-3000
Fax No: 816-7362
E-mail Address: dmcihi@dmcinet.com
URL: http://www.dmchi.com
Auditor: SyCip, Gorres, Velayo & Company
Transfer Agent: Securities Transfer Services, Inc.
METRO PACIFIC: Clarifies Business World News
--------------------------------------------
Metro Pacific Corporation clarified the news article entitled
"San Miguel, First Pacific confirm interest in Transco"
published in the September 28, 2004 issue of the BusinessWorld
(Internet Edition).
The article reported, "In a related development, a spokesman of
Metro Pacific Company, the local arm of First Pacific Co. of
Hong Kong, also confirmed that the parent firm was looking into
investing in the local electrical sector. However Metro Pacific
spokesman David Nugent told XFN-ASIA news service that there has
been no `substantive discussion' with the government nor has the
company submitted a formal letter of interest to participate in
the bidding for Transco."
Metro Pacific Corporation (MPC), in its letter to the Philippine
Stock Exchange dated September 28, 2004, signed by Mr. David
Nugent, in his legal capacity as Vice President of the Company,
stated that:
"As noted in the article, I did confirm that Metro Pacific
Corporation (`Metro Pacific') has reviewed certain opportunities
in the power industry, though there have been no substantive or
material discussions specific to the privatization of National
Transmission Company. Nonetheless, we continue to review and
monitor the sector.
At the present however, Metro Pacific's new growth initiatives
are concentrated on developing a business plan for a combined
toll way system that would include Citra Metro Manila Tollways
Corporation (of which Metro Pacific holds a minority equity
stake) and one or more of the various owners and operators."
For your information
MA. PAMELA D. QUIZON-LABAYEN
Head, Disclosure Department
JURISITA M. QUINTOS
Senior Vice President - Operations Group
NEXTSTAGE INC.: To List Additional 400,000 Common Shares
--------------------------------------------------------
The Philippine Stock Exchange approved on September 8, 2004, the
application of Nextstage Inc. to list additional 400,000 common
shares, with a par value of P1.00 per share, to cover the
conversion into equity of P225,900,000.00 worth of advances from
Messrs. Orlando B. Vea, David T. Fernando, and Rafael A. Morales
at a conversion price of P112.95 per share, divided into the
following:
Conversion Shares
Name Amount of Loan Before Quasi- After Quasi-
Reorganization
Reorganization
Orlando B. Vea P 98,234,309.25 869,715 173,943
David T. Fernando 94,653,794.25 838,015 167,603
Rafael A. Morales 33,011,896.50 292,270 58,454
Total P225,900,000.00 2,000,000 400,000
In view thereof, the listing of the 400,000 common shares is set
for Friday, October 1, 2004.
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:
Nextstage Inc.
1004 Centerpoint Building
Julio Vargas Avenue
Corner Garnet Road
Ortigas Center, Pasig City
Tel. No: 887-1111 to 1118
Fax No: 887-1119
E-mail Address: jbsfernandez@nextstagegroup.com
Auditor: SyCip, Gorres, Velayo & Company
Transfer Agent: Rizal Commercial Banking Corporation
PHILIPPINE LONG: Details Shareholder's Interest Notice
------------------------------------------------------
Philippine Long Distance Telephone Co. clarified the recent
announcement on the changes that have taken place in the
shareholdings of Ms. Miguela F. Villanueva on September 23,
2004, which was filed with the Philippine Stock Exchange within
the prescribed 5-trading day period on September 27, 2004.
The Company announced that as reported by Ms. Villanueva, the
transaction date should be September 22, 2003 instead of
September 23, 2004.
Very truly yours,
PHILIPPINE LONG DISTANCE TELEPHONE COMPANY
MA. Lourdes C. Rausa-Chan
Corporate Secretary
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
=================
ASIA EAST: Posts Final Dividend Notice
--------------------------------------
Asia East International Pte Ltd. posted its dividend notice at
the Singapore Government Gazette on September 24, 2004.
Address of Registered Office: Formerly of 1 Marine Parade
Central #12-08/09 Parkway Builder's Centre
Singapore 449408
Court: Supreme Court, Singapore
Number of Matter: Companies Winding Up No. 169 of 1994
Amount Per Centum: 20.71%
First and Final or otherwise: First & Final Dividend
When Payable: 9 June 2004
Where Payable: The Official Receiver
The URA Centre (East Wing)
45 Maxwell Road #06-11
Singapore 069118
Dated: 24th September 2004
Sunari Bin Kateni
Assistant Official Receiver
CANSPAR PRIVATE: Issues Dividend Notice
---------------------------------------
Canspar (S) Private Limited issued its dividend Notice at the
Singapore Government Gazette on September 24, 2004.
Address of Registered Office: Formerly of 41 Pioneer Sector 2
Singapore 628392
Court: Supreme Court, Singapore
Number of Matter: Companies Winding Up No. 271 of 1995
Amount Per Centum: Preferential (24.27%)
First and Final or otherwise: First & Final Dividend
When Payable: 15 September 2004
Where Payable: The Official Receiver
The URA Centre (East Wing)
45 Maxwell Road #06-11
Singapore 069118
Dated: 24th September 2004
Moey Weng Foo
Assistant Official Receiver
HAI SIANG: Enters Winding Up Proceedings
----------------------------------------
In the matter of Hai Siang International Investments Pte Ltd., a
Winding Up Order made on the 17th day of September 2004.
Name and address of Liquidator: Mr Ong Wei Leng
of Messrs Ong Wei Leng & Co
10 Ubi Crescent
#03-46 Ubi Techpark, Lobby C
Singapore 408564
Dated this 17th day of September 2004
Messrs Colin Ng & Partners
Solicitors for the Petitioner
MAST INDUSTRIES: Creditors to Prove Claims by October 24
--------------------------------------------------------
Notice is hereby given that the creditors of Mast Industries
(Singapore) Private Limited, whose debts or claims have not
already been admitted, are required on or before 24th October
2004 to submit particulars of their debts or claims and any
security held by the undersigned.
This should be done by delivering or sending through the post to
the address below, a formal Proof of Debt in accordance with
Form 77 containing their respective debts or claims.
In default of complying with this notice, they will be excluded
from the benefit of any distribution made before their debts or
claims are proved or their priority is established and from
objecting to the distribution.
Lim Say Wan
Liquidator
c/o 6 Shenton Way
#32-00 DBS Building Tower Two
Singapore 068809
This Singapore Government Gazette notice is dated September 24,
2004.
NEPTUNE ORIENT: Paulson & Co Reduces Stake
------------------------------------------
New York-based fund manager Paulson & Co is bailing out of
Neptune Orient Lines (NOL) even as Temasek Holdings' offer to
buy the rest of the shipping line expired yesterday, The Strait
Times reports.
Paulson disposed of its 55.9 million NOL shares on Friday and
sold another 3 million shares on Monday, reducing its former
9.03 percent stake to 4.96 percent. The stake, which has now
fallen below the 5 percent threshold, now requires disclosure of
share transactions.
This move by Paulson may trigger shareholders to accept
Temasek's SG%2.80 share offer.
As mandated in the Singapore takeover code, Temasek must secure
at least 93 percent of NOL share before it can compulsorily gain
the rest of the shipping line's shares ahead of its planned
privatization of the company. As of Tuesday, Temasek owns 64.06
percent of NOL since its unconditional offer two weeks ago.
Paulson rushed to raise its 4.98 percent stake to 9.03 percent
early this month, after its plea to discount Temasek was
rejected by the NOL board. At that time, NOL's selling price was
around SG$2.81 to SG$2.82, just a little higher than Temasek's
SG$2.80 offer.
Paulson's moved stunned observers, as it said earlier that it
had considered NOL to represent an 'outstanding value' of
SG$2.80, as it was trading at only '3.6 times earnings'. Paulson
also gave the impression that it was betting on Temasek's
takeover of NOL as a prelude to the shipping line buying other
shipping lines using its shares as the 'acquisition currency'.
However, Paulson is not the only NOL major seller, John
Fredriksen, Norwegian shipping tycoon, sold his entire stake at
a price possibly higher than Temasek's 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: Shareholder's Interest Ceases
---------------------------------------------
Neptune Orient Lines Limited on September 28 announced on
Singapore Stock Exchange the cease of interest by shareholder
Paulson & Co. Inc.
Part I
(1) Date of notice to issuer: September 28, 2004
(2) Name of Substantial Shareholder: Paulson & Co. Inc. on
behalf of the investment funds managed by it
(3) Please tick one or more appropriate box(es):
x a Change in the Percentage Level of a Substantial
Shareholder's Interest or Cessation of Interest. (Please
complete Parts III and IV)
Part II
(1) Date of change of interest:
(2) Name of Registered Holder:
(3) Circumstance(s) giving rise to the interest or change in
interest:
(4) Information relating to shares held in the name of the
Registered Holder:
No. of shares held before the change:
As a percentage of issued share capital:
No. of shares which are the subject of this notice:
As a percentage of issued share capital:
Amount of consideration (excluding brokerage and stamp duties)
per share paid or received:
No. of shares held after the change:
As a percentage of issued share capital:
Part III
(1) Date of change of interest: September 27, 2004
(2) The change in the percentage level: From 5.16% to 4.96%
(3) Circumstance(s) giving rise to the interest or change in
interest: Sales in open market at own discretion
(4) A statement of whether the change in the percentage level is
the result of a transaction or a series of transactions.
The change in the percentage level is the result of a
transaction on 27 September 2004.
Part IV
(1) Holdings of Substantial Shareholder, including direct and
deemed interest:
Direct Deemed
No. of shares held before change: 74,817,000
% of issued share capital: 5.16
No. of shares held after change: 71,817,000
% of issued share capital: 4.96
Based on NOL's paid-up capital of 1,449,204,376 as at 27
September 2004.
Submitted by:
Ms. Marjorie Wee
Ms. Wong Kim Wah
Company Secretaries
NEPTUNE ORIENT: Posts Change in Director's Interest
---------------------------------------------------
Neptune Orient Lines Limited on September 28 released a notice
on Singapore Stock Exchange regarding the change in the
Percentage Level of a Substantial Shareholder's Interest for
Paulson & Co. Inc.
Part I
(1) Date of notice to issuer: September 28, 2004
(2) Name of Substantial Shareholder: Paulson & Co. Inc. on
behalf of the investment funds managed by it
(3) Please tick one or more appropriate box(es):
x a Change in the Percentage Level of a Substantial
Shareholder's Interest or Cessation of Interest. (Please
complete Parts III and IV)
Part II
(1) Date of change of interest:
(2) Name of Registered Holder:
(3) Circumstance(s) giving rise to the interest or change in
interest:
(4) Information relating to shares held in the name of the
Registered Holder:
No. of shares held before the change:
As a percentage of issued share capital:
No. of shares which are the subject of this notice:
As a percentage of issued share capital:
Amount of consideration (excluding brokerage and stamp duties)
per share paid or received:
No. of shares held after the change:
As a percentage of issued share capital:
Part III
(1) Date of change of interest: September 24, 2004
(2) The change in the percentage level: From 9.04% to 5.16%
(3) Circumstance(s) giving rise to the interest or change in
interest: Sales in open market at own discretion
(4) A statement of whether the change in the percentage level is
the result of a transaction or a series of transactions.
The change in the percentage level is the result of a series of
transactions on 24 September 2004.
Part IV
(1) Holdings of Substantial Shareholder, including direct and
deemed interest:
Direct Deemed
No. of shares held before change: 130,728,000
% of issued share capital: 9.04
No. of shares held after change: 74,817,000
% of issued share capital: 5.16
The percentage of issued share capital before and after change
is based on NOL's paid-up capital of 1,446,382,486 as at 6
September 2004 and 1,449,204,376 as at 27 September 2004
respectively.
Submitted by:
Ms. Marjorie Wee
Ms. Wong Kim Wah
Company Secretaries
NEPTUNE ORIENT: Change in Temasek Holdings' Interest
----------------------------------------------------
Neptune Orient Lines Limited on September 29 announced on the
Singapore Stock Exchange the Change in the Percentage Level of a
Substantial Shareholder's Interest of Temasek Holdings (Private)
Limited.
Part I
(1) Date of notice to issuer: September 29, 2004
(2) Name of Substantial Shareholder: Temasek Holdings (Private)
Limited
(3) Please tick one or more appropriate box(es):
x a Change in the Percentage Level of a Substantial
Shareholder's Interest or Cessation of Interest. [Please
complete Parts III and IV]
Part II
(1) Date of change of interest:
(2) Name of Registered Holder:
(3) Circumstance(s) giving rise to the interest or change in
interest:
(4) Information relating to shares held in the name of the
Registered Holder:
No. of shares held before the change:
As a percentage of issued share capital:
No. of shares which are the subject of this notice:
As a percentage of issued share capital:
Amount of consideration (excluding brokerage and stamp duties)
per share paid or received:
No. of shares held after the change:
As a percentage of issued share capital:
Part III
(1) Date of change of deemed interest: September 28, 2004
(2) The change in the percentage level: From 29.44% to 37.63%
(3) Circumstance(s) giving rise to the interest or change in
interest: Others
Please specify details: (1) Open Market Purchase (2) Acceptance
of Takeover Offer
(4) A statement of whether the change in the percentage level is
the result of a transaction or a series of transactions.
The change is the result of a series of transactions.
Part IV
(1) Holdings of Substantial Shareholder, including direct and
deemed interest:
Direct Deemed
No. of shares held before change: 383,465,362 426,670,709
% of issued share capital: 26.46 29.44
No. of shares held after change: 383,465,362 545,261,103
% of issued share capital: 26.46 37.63
Based on NOL's paid-up capital of 1,449,204,376 as at 27
September 2004.
Submitted by:
Ms. Marjorie Wee
Ms. Wong Kim Wah
Company Secretaries
NEPTUNE ORIENT: Posts Notice of Change in Shareholder's Interest
----------------------------------------------------------------
Neptune Orient Lines Limited on September 28 announced on the
Singapore Stock Exchange the Change in the Percentage Level of a
Substantial Shareholder's Interest of Temasek Holdings (Private)
Limited.
Part I
(1) Date of notice to issuer: September 28, 2004
(2) Name of Substantial Shareholder: Temasek Holdings (Private)
Limited
(3) Please tick one or more appropriate box(es):
x a Change in the Percentage Level of a Substantial
Shareholder's Interest or Cessation of Interest. [Please
complete Parts III and IV]
Part II
(1) Date of change of interest:
(2) Name of Registered Holder:
(3) Circumstance(s) giving rise to the interest or change in
interest:
(4) Information relating to shares held in the name of the
Registered Holder:
No. of shares held before the change:
As a percentage of issued share capital:
No. of shares which are the subject of this notice:
As a percentage of issued share capital:
Amount of consideration (excluding brokerage and stamp duties)
per share paid or received:
No. of shares held after the change:
As a percentage of issued share capital:
Part III
(1) Date of change of deemed interest: September 27, 2004
(2) The change in the percentage level: From 28.39% to 29.44%
(3) Circumstance(s) giving rise to the interest or change in
interest: Others
Please specify details: 1) Securities Lending/Borrowing
Transaction (2) Open Market Purchase (3) Acceptance of Takeover
Offer
(4) A statement of whether the change in the percentage level is
the result of a transaction or a series of transactions.
The change is the result of a series of transactions.
Part IV
(1) Holdings of Substantial Shareholder, including direct and
deemed interest:
Direct Deemed
No. of shares held before change: 383,465,362 411,380,810
% of issued share capital: 26.46 28.39
No. of shares held after change: 383,465,362 426,670,709
% of issued share capital: 26.46 29.44
Based on NOL's paid-up capital of 1,449,204,376 as at 27
September 2004.
Submitted by:
Ms. Marjorie Wee
Ms. Wong Kim Wah
Company Secretaries
REPAST SINGAPORE: Creditors to Submit Claims by October 24
----------------------------------------------------------
Notice is hereby given that the creditors of Repast Singapore
Pte Ltd, in members' voluntary liquidation, whose debts or
claims have not already been admitted, are required on or before
the 24th of October 2004 to submit particulars of their debts or
claims and any security held by them to the undersigned.
This should be done by delivering or sending through the post to
the address below, a formal Proof of Debt in accordance with
Form 77 containing their respective debts or claims.
In default of complying with this notice they will be excluded
from the benefit of any distribution made before their debts or
claims are proved or their priority is established and from
objecting to the distribution.
Dated this 24th day of September 2004.
Lim Say Wan
Liquidator.
c/o 6 Shenton Way
#32-00 DBS Building Tower Two
Singapore 068809
This Singapore Government Gazette notice is dated September 24,
2004.
TOP GLOBAL: Appoints New Executive
----------------------------------
Top Global Limited on September 28 announced on the Singapore
Stock Exchange the appointment of its Head of Finance
Department, Tsang Kai Kong David, after the resignation of Mr.
Tay Kah Guan.
Date of appointment: 27 Sep 2004
Name: Tsang Kai Kong David
Age: 46
Country of principal residence: Singapore
Whether appointment is executive, and if so, the area of
responsibility: Responsible for the full spectrum of financial
and management accounting and reporting, tax and financial
requirements of the Company
Working experience and occupation(s) during the past 10 years:
Over 20 years working experience in the banking and financial
sectors. A major part of the career has been in the banking
sector holding the corporate ranking of Vice President & Head,
Finance in the Hong Kong Branch of an established bank
Other directorships:
Past:
None
Present:
None
Shareholding in the listed issuer and its subsidiaries: None
Family relationship with any director and/or substantial
shareholder of the listed issuer or of any of its principal
subsidiaries: None
Conflict of interest: None
Information required by Rule 704(7)(h)
Disclose the following matters concerning a director, chief
executive officer, general manager or other executive officer of
equivalent rank. If the answer to any question is "yes", full
details must be given.
(a) Whether at any time during the last 10 years, a petition
under any bankruptcy laws of any jurisdiction was filed against
him or against a partnership of which he was a partner? No
(b) Whether at any time during the last 10 years a petition
under any law of any jurisdiction was filed against a
corporation of which he was a director or key executive for the
winding up of that corporation on the ground of insolvency? No
(c) Whether there is any unsatisfied judgment against him? No
(d) Whether he has ever been convicted of any offence, in
Singapore or elsewhere, involving fraud or dishonesty which is
punishable with imprisonment for 3 months or more, or has been
the subject of any criminal proceedings (including any pending
criminal proceedings which he is aware of) for such purpose? No
(e) Whether he has ever been convicted of any offence, in
Singapore or elsewhere, involving a breach of any law or
regulatory requirement that relates to the securities or futures
industry in Singapore or elsewhere, or been the subject of any
criminal proceedings (including any pending criminal proceedings
which he is aware of) for such breach? No
(f) Whether at any time during the last 10 years, judgment has
been entered against him in any civil proceedings in Singapore
or elsewhere involving a breach of any law or regulatory
requirement that relates to the securities or futures industry
in Singapore or elsewhere, or a finding of fraud,
misrepresentation or dishonesty on his part, or he has been the
subject of any civil proceedings (including any pending civil
proceedings which he is aware of) involving an allegation of
fraud, misrepresentation or dishonesty on his part? No
(g) Whether he has ever been convicted in Singapore or elsewhere
of any offence in connection with the formation or management of
any corporation? No
(h) Whether he has ever been disqualified from acting as a
director of any corporation, or from taking part directly or
indirectly in the management of any corporation? No
(i) Whether he has ever been the subject of any order, judgment
or ruling of any court, tribunal or governmental body,
permanently or temporarily enjoining him from engaging in any
type of business practice or activity? No
(j) Whether he has ever, to his knowledge, been concerned with
the management or conduct, in Singapore or elsewhere, of the
affairs of:
(i) any corporation which has been investigated for a breach of
any law or regulatory requirement governing corporations in
Singapore or elsewhere; or
(ii) any corporation or partnership which has been investigated
for a breach of any law or regulatory requirement that relates
to the securities or futures industry in Singapore or elsewhere,
in connection with any matter occurring or arising during the
period when he was so concerned with the corporation or
partnership? No
Submitted by:
Tan Siok Kheng
Company Secretary
===============
T H A I L A N D
===============
KRUNG THAI: Issues Clarification to News Report
-----------------------------------------------
Reference is made to the press report that the Bank of Thailand
(BOT) would inform Krung Thai Bank PCL of the results of
qualifications examination of Mr.Viroj Nualkhair, who would take
up the post of President according to the BOT's notification of
the appointments of commercial bank's executive director and
high ranking executive.
Krung Thai Bank PCL in a disclosure to the Stock Exchange of
Thailand announced that it has not been informed of such results
of qualifications examination by the Bank of Thailand.
Please be informed accordingly.
Your sincerely,
Krung Thai Bank Public Company Limited
Suchart Dejittirut
(Mr. Suchart Dejittirut)
Vice Secretary to the Board of Directors
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
NATURAL PARK: Clarifies Sale of PMR's Share
-------------------------------------------
Reference is made to Pacific Assets Public Company Limited's
(PA) report to the Stock Exchange of Thailand (SET) that Avant
Resorts Limited (Avant), as the shareholder representing fifty
percent of the shares of Pacific Avant Holding Company Limited
(PAH), has offered to wholly purchase the remaining shares held
by Pacific Meridian Resort Company Limited (PMR), totaling
625,000 shares, at the price of THB2,592 per share, thereby
making a total amount of THB1,620,000,000. PA is a shareholder
representing ninety-nine percent of the shares of PMR.
Natural Park Public Company Limited would like to clarify that
the Board of Director's meeting of the Company No. 19/2004 on
September 28, 2004 resolved that the selling of asset of PMR has
no effect to the implementation of the merger and shareholding
restructuring and management plan (Restructuring Plan) between
the Company and PA.
The Board of Directors of the Company also said that although
the total asset of PA will be decreased, the Company will
receive cash instead (which PA is considered as the appropriate
price).
This transaction complies with the Restructuring Plan as the
Company has the business policy in selling the transferred
assets of PA and its subsidiaries to the property fund in the
future.
Please be informed accordingly.
Regards,
(Mr. Thowthawal Subhavanich)
Chief Financial Officer
CONTACT:
Natural Park Public Company Limited
Address: 88 Soi Klang (Sukhumvit 49),
Sukhumvit Road, Wattana, Bangkok
Telephone: 0-2259-4800-11
Fax: 0-2259-4819, 0-2259-4815
THAI DURABLE: Issues Report on Status of Project
------------------------------------------------
As previously advised in our letter TDT 58/2546 dated 27 October
2003, Thai Durable Textile Public Company Limited reported a
Letter of Intent with an institutional foreign investor, China
Textile Machinery And Technology Import And Export Corporation
(CTMTC).
The detail was that the Company would purchase Spinning Machine
of 100,000 spindles from CTMTC. The value of the asset amounted
to THB1,600,000,000 divided into 2 portions. The first portion
of 50,000 spindles was scheduled for the first quarter of 2004,
valued at THB800,000,000.
The project materialized through the loan of THB600,000,000 from
financial institution and the investment of THB200,000,000 from
CMTC. The second portion of 50,000 spindles was scheduled in
2005, valued at THB800,000,000. The project was also through
the loan of THB600,000,000 from financial institution and the
investment of THB200,000,000 from CMTC.
The Company would like to report to the Stock Exchange of
Thailand the status of the project mentioned above. Since the
Company is currently incurring losses in its financial position,
investment in big projects may affect the company's performance
and the working capital.
The company has considered and decided to delay the project
until the Company has a better financial position and
performance.
If the Company has further progress on the project, the Company
will advise the status.
Please kindly acknowledge.
Sincerely yours,
(Mrs. Phakarat Visudhimark) (Mr. Mongkorn Dhanasukanchana)
Authorized Directors
CONTACT:
Thai Durable Group Pcl
33 Moo 4 Suksawadi Road,
Tambol Bangchak, Phra Pradaeng Samut Prakarn
Telephone: 0-2463-0024, 0-2463-2293-6
Fax: 0-2463-3821
THAI PETROCHEMICAL: Thai Refinery Eyes Major Shareholding
---------------------------------------------------------
Thai Refinery and Chemicals Co. would likely emerge as another
major shareholder of Thai Petrochemical Industry Public Company
Limited (TPI), reports The Nation.
The creditors' approval for the amendment of TPI's debt plan
would pave the way for Thai Refinery to swap the TPI debt it
holds into equity.
Thai Refinery and Chemicals has since March been snapping up TPI
debts in Singapore's secondary loan market from Deutsche Bank,
which serves as sales agent for TPI creditors wishing to
eliminate their exposure.
Thai Refinery has spent US$100 million (THB4.15 billion) in
acquiring TPI debts worth $400 million. The debt purchase
represents a discount of about 70 percent.
According to some sources, no one exactly knows who is behind
Thai Refinery and Chemicals, and noted that the company must
have excellent information on TPI's debt-restructuring plan to
risk $100 million.
Thai Refinery and Chemical Group is holding its debts in TPI
through nominees in Singapore. It is not listed by that name
among the creditors who voted on the restructuring plan.
Upon swapping TPI's debt to Thai Refinery with equity, the
latter would emerge as a 10 percent shareholder in TPI.
"The new plan does not mention who will be the new strategic
partner," the source said, noting that PTT Plc has not yet
confirmed whether it would participate in TPI's capital
increase.
"That means Thai Refinery and Chemical Group has the potential
to offer itself to be a new strategic partner, since it is
already TPI's major shareholder."
The prospect of losing all control over TPI, Mr. Prachai has
been staging a campaign to overthrow the Thaksin government.
Mr. Prachai has been spotted alongside business tycoon Ekkayuth
Anchanbutr at public functions critical of the government.
Thai Refinery's financial adviser, Presio from Singapore has
expressed interest to become TPI's partner last June, but was
rejected by TPI's steering committee because Thai Refinery and
Chemical did not have a business track record.
Another investor showing interest in TPI is high-flying lawyer
Vichai Thongtaeng, TPI founder Prachai Leophairatana said. Mr.
Vichai was one of the lawyers in the legal team who defended
Prime Minister Thaksin Shinawatra before the Constitution Court
on charges of asset-concealment.
Mr. Vichai whose source of financing is not clear, has recently
acquired the Phaya Thai Hospital Group, Siam General Factoring,
Daidomon, and National Fertiliser Corp. But Mr. Vichai has
denied that he is part of the group spending $400 million to buy
up TPI debts.
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
*********
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Copyright 2004. All rights reserved. ISSN: 1520-9482.
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