TCRAP_Public/041007.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, October 7, 2004, Vol. 7, No. 199

                            Headlines

A U S T R A L I A

ADSTEAM MARINE: Issues Notice of General Meeting
ADSTEAM MARINE: Details Dividend Payment and Share Issue
ALIMBATE PTY: To Hold Final Meeting on October 14
AMP LIMITED: Posts Interview with CEO Andrew Mohl
APPELLATION WINES: Final Meeting Slated for October 14

CJN ENTERPRISES: Schedules Final Meeting on October 14
EMPAV PTY: Final Meeting Set October 14
FLETCH BROTHERS: Sets October 14 as Date of Final Meeting
GOW STREET: Schedules Final Meeting on October 14
JANIMA PTY: To Hold Final Meeting October 8

JOHNSON & JOHNSON: Ernst & Young Liquidators Appointed
KENDRO PTY: To Hold Final Meeting on October 14
NATIONAL AUSTRALIA: Launches Ad to Rebuild Image
OBTECH PTY: Appoints Liquidators
PERMACREST AUSTRALIA: Sets Final Meeting on October 14

PRIMELIFE CORPORATION: FC Makes Orders on Investment Schemes
QANTAS AIRWAYS: Cuts Size of Bank Facility
QANTAS AIRWAYS: Fails to Resolve Dispute with Union
SHAHANI ENTERPRISES: Schedules Final Meeting on October 14
SWPS PTY: Members and Creditors Meeting Slated for October 14

T&M HOLDINGS: Final Meeting Scheduled October 14
* Corporate Bankruptcies Up 8%


C H I N A  &  H O N G  K O N G

ANKOR SERVICE: Appoints Liquidators
FOREFRONT MOTORS: Liquidators Named
LO PAK: Releases Notice of Full Payment Intention
PARASIA LIMITED: Winding Up Hearing Set November 24
WONG KAI: General Creditors Meeting Slated for October 11

ZHU KUAN: HK Court Declares Bankruptcy
* Big Four to Suffer if Rates Increase


I N D O N E S I A

BANK PERMATA: PPA To Announce Winning Bidder Tomorrow
BANK PERMATA: Bank Panin Units Join Bid for 51% Stake
BUMI RESOURCES: Secures US$385 Mln Loan
PERTAMINA: Mulls Purchase of 240,000 Bbl Jet A-1 for November


J A P A N

FUJITSU LIMITED: Succeeds in Hi-precision, Hi-speed BioServer
HANNOU KAIHATSU: Enters Bankruptcy
KOBE STEEL: Strengthens Welding Alliance with JFE Steel
MITSUBISHI MOTORS: Ex-Chief Pleads Innocent in Fatal Crash Case
MITSUBISHI MOTORS: Comments on First Trial of Ex President

MITSUBISHI MOTORS: Details Progress on Past Recalls Probe
NISSAN MOTOR: To Recall 26,077 Cars
OGAWA DENKI: Declared Bankrupt
TOSHIBA CORPORATION: To Initiate Steps to Aid AV Businesses
TOSHITOKU KISEN: Faces Insolvency


K O R E A

KOREA EXCHANGE: Labor Union Says Job Cut is Illegal
SK NETWORKS: Share Reduction Plan Gains Creditors' Approval


M A L A Y S I A

ANCOM BERHAD: Purchases 12,000 Ordinary Shares on Buy Back
BERJAYA GROUP: AGM Set For October 28
CHG INDUSTRIES: Issues Restructuring Scheme Update
DATAPREP HOLDINGS: Unveils New Placement of Shares
FURQAN BUSINESS: Unit Issues Debt Payment Notice

GEAHIN ENGINEERING: Issues Restructuring Scheme Update
GOLDEN PLUS: Updates Winding Up Petition
HAP SENG: Unit Faces Winding Up Petition
HUME INDUSTRIES: Disposes Of 2,895,000 Ordinary Shares in Tasek
I-BERHAD: Issues Book Closure Notice

MEDAS CORP: SC OKs Proposed Exemption From Mandatory Offer
MTD CAPITAL: Posts Shares Buy Back Notice
NAIM INDAH: Granted Listing of 1,297,300 Ordinary Shares
PILECON ENGINEERING: Unit's Default Status Unchanged
RHB CAPITAL: Monthly Disclosure Pursuant To Paragraph 5.11(2)


P H I L I P P I N E S

NEGROS NAVIGATION: Court OKs Rehab Plan
PUERTO AZUL: Php1.4B Outstanding Debts Granted Reprieve
PUERTO AZUL: Creditor Seeks To Replace Receiver
UNITED COCONUT: First Sovereign Buys Bad Assets Worth Php13.6B
* State-owned Firms Seen Posting Php131B Losses


S I N G A P O R E

CHUNGSING HOLDINGS: Faces Winding Up Proceedings
CONTECH REALTY: Final Meeting Slated for November 2
HIAP HENG: Winding Up Order Made
INFORMATICS HOLDINGS: Shareholder's Interest Changes
INFORMATICS HOLDINGS: Reveals Change in Shareholder's Interest

PANPAC MEDIA: Declares Change in Shareholder's Interest
PANPAC MEDIA: Posts Change in Shareholders Interest
OSCELSING PRIVATE: Creditors Meeting Scheduled on October 19
SOURCE ONE: Court Issues Winding Up Notice


T H A I L A N D

KRUNG THAI: New President Could be Named This Week
NATURAL PARK: Unveils Resolution of Directors Meeting
TONGKAH HARBOUR: Details Shares Sale Result

     -  -  -  -  -  -  -  -

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


ADSTEAM MARINE: Issues Notice of General Meeting
------------------------------------------------
Notice is given that the Annual General Meeting of shareholders
of Adsteam Marine Limited will be held at the Banquet Hall of
the Masonic Centre, 279 Castlereagh Street, Sydney on Tuesday,
November 9, 2004 at 10:00 a.m. when the following business will
be transacted.

Ordinary Business

(1) To lay before the Annual General Meeting the Financial
Report and Reports of the Directors and Auditor for the year
ended 30 June 2004, for members to receive and consider.

(2) To elect Directors:

(a) Dr. Ken Moss retires by rotation and being eligible offers
himself for re-election. Information about Dr. Moss is contained
on page 16 of the 2004 Annual Report.

(b) Mr. Achim Drescher retires by rotation and being eligible
offers himself for re-election. Information about Mr. Drescher
is contained on page 16 of the 2004 Annual Report.

The Board reviews Director performance annually, and has done so
this financial year.  On this basis, the Board (excluding Dr
Moss and Mr. Drescher on account of their personal interest)
unanimously and strongly recommends supporting the re-election
of Dr Moss and Mr. Drescher.

Special Business - Consultancy arrangements with former Director
and Chief Operating Officer

(3) To consider and, if thought fit, to pass the following
resolution as an ordinary resolution:

"That authorization and approval are given, for all purposes, to
the Company entering into, and performing its obligations under,
the Consultancy Agreement with a corporate entity controlled by
Mr. Frederick more fully described and explained in the
Explanatory Notes to this Notice of Meeting."

Special Business - Renewal of proportional takeover provisions

(4) To consider and, if thought fit, to pass the following
resolution as a special resolution:

"That the proportional takeover provisions contained in rule 14
of the Constitution are renewed with effect from 14 November
2004, for a period of three years, with the amendments described
in the Explanatory
Notes to this Notice of Meeting."

Proxies

Any member entitled to attend and vote is entitled to appoint
not more than two proxies to attend and vote in his or her
stead. The person or persons so appointed need not necessarily
be members of the Company. Where two proxies are appointed, each
proxy should be appointed to represent a specified portion or
number of the member's voting rights (failing which each
appointee will be entitled to cast half the member's votes).

A Proxy Form is enclosed. To be effective, the Proxy Form and
authority (if any) under which it is signed must be deposited at
the registered office of the Company, (Level 22, Plaza 2, 500
Oxford Street Bondi Junction NSW 2022), or sent legibly and in
its entirety by facsimile to:

- Registries Limited, facsimile (02) 9279 0664
- the Company, facsimile (02) 9369 9288 by no later than 10am
Sydney time on Sunday 7 November 2004. Unless the proxy form is
validly lodged, the proxy will not be treated as valid. Please
refer to the notes appearing on the enclosed Proxy Form.

Entitlement to vote

For the purposes of the Annual General Meeting being convened by
this Notice, shares will be taken to be held by the persons who
are the registered holders at 10am Sydney time on 7 November
2004. Accordingly, share transfers registered after that time
will be disregarded in determining entitlements to attend and
vote at the Meeting.

Dated this 22nd day of September 2004

By order of the Board
DD Smith Secretary

To view a full copy of notice and the attached proxy form, click
http://bankrupt.com/misc/ADSTEAMMARINE100604.pdf

CONTACT:

Adsteam Marine- Corporate Office
Adsteam Harbour
United Salvage (Australia and the Pacific)
Level 22, Plaza 2
500 Oxford Street
Bondi Junction NSW 2022
Australia
Phone: +61 2 9369 9200
Fax: +61 2 9369 9266
E-mail: info@adsteam.com.au
Web site: http://www.adsteam.com.au/


ADSTEAM MARINE: Details Dividend Payment and Share Issue
--------------------------------------------------------
Adsteam Marine Limited announced Tuesday that it has paid a
fully franked final dividend of 2.2 cents per share.

Please be advised that as a result of certain shareholders
electing under the terms of the Company's Dividend Reinvestment
Plan to reinvest their dividend in shares of the Company, the
Company has resolved to issue on Monday a further 2,026,979
shares in the Company.

In accordance with the Plan, the issue price of the shares
issued is AU$1.39 per share.

Further details are contained in the attached Appendix 3B.

The new issued capital of the Company following the share issue
is 266,439,108.

Yours sincerely,
Dominic D Smith
General Counsel & Company Secretary

Click to view a full copy of appendix 3B
http://bankrupt.com/misc/ADSTEAMMARINE100504_2.pdf

  
ALIMBATE PTY: To Hold Final Meeting on October 14
-------------------------------------------------
Notice is given pursuant to Section 509(2) of the Corporations
Act 2001 that a Final Meeting of Members of Alimbate Pty Limited
(In Liquidation) will be held at Frasers Insolvency Advisory,
Level 9, 99 Elizabeth Street, Sydney NSW 2000 on Thursday, 14
October 2004 at 10:00 a.m.

AGENDA

(1) To consider the Liquidator's final account; and
(2) To consider any other business brought before the meeting.

Dated this 13th day of September 2004

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


AMP LIMITED: Posts Interview with CEO Andrew Mohl
-------------------------------------------------
AMP Limited, in its presentation to Monday's JP Morgan Asia
Pacific Equity Conference in New York, highlighted how it's
executing its strategy to deliver shareholder value.

The following interview was published in the company's web site
on October 5.

"How will AMP's business model continue to generate value and
growth for shareholders in the immediate term?"

CEO Andrew Mohl:

"Our business model spans the wealth management industry value
chain and we believe we have strengths in each part of the chain
that will drive value and growth going forward. In distribution,
our business model is based on long-term partnerships with self-
employed financial planners. In product manufacturing, we have
market-leading scale and cost efficiency and in investment
management, we have broadly based capabilities that are being
supplemented by partnerships with
specialist managers.

"We also believe that covering the value chain means the AMP
"whole" is greater than the sum of its parts and the
presentation looks at a number of areas where this applies. Our
strength in distribution delivers relatively assured scale in
the manufacturing space, which in turn enables us to buy in
technology where we choose not to manufacture. It also drives
volumes in the asset management business, which in turn enables
high quality partnering opportunities. The scale of
manufacturing drives our purchasing power with external fund
managers and also with technology support providers."

To view the full document, click:
http://bankrupt.com/misc/AMPLIMITED100504.pdf

CONTACT:

AMP Limited
Level 24, AMP Building,
33 Alfred Street,
Sydney, Nsw, Australia, 2000  
Head Office Telephone: (02) 9257 5000  
Head Office Fax: (02) 9257 7178  
Web site: http://www.amplimited.com/


APPELLATION WINES: Final Meeting Slated for October 14
------------------------------------------------------
Notice is hereby given pursuant to Section 509 of the
Corporations Act 2001 that a Final Meeting of Members and
Creditors of Appellation Wines & Spirits Pty Limited (In
Liquidation) will be held at the offices of William Buck,
Chartered Accountants, Level 24, 201 Elizabeth Street, Sydney on
14 October 2004 at 10:00 a.m. for the purpose of having an
account laid before them showing the manner in which the winding
up has been conducted and the property of the company disposed
of, and the termination of the administration.

Dated this 3rd day of September 2004

David G. Young
Liquidator
Appellation Wines & Spirits Pty Limited (In
Liquidation)


CJN ENTERPRISES: Schedules Final Meeting on October 14
------------------------------------------------------
Notice is given pursuant to Section 509(2) of the Corporations
Act 2001 that a Final Meeting of Members and Creditors of CJN
Enterprises Pty Limited (In Liquidation) trading as Gosford
Prestige will be held at Frasers Insolvency Advisory, Level 9,
99 Elizabeth Street, Sydney NSW 2000 on Thursday, 14 October
2004 at 1:30 p.m.

AGENDA

(1) To consider the Liquidator's final account; and
(2) To consider any other business brought before the meeting.

Dated this 13th day of September 2004

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


EMPAV PTY: Final Meeting Set October 14
---------------------------------------
Notice is hereby given pursuant to Section 509 of the
Corporations Act 2001 that a Final Meeting of Members and
Creditors of Empav Pty Limited (In Liquidation) will be held at
the offices of William Buck, Chartered Accountants, Level 24,
201 Elizabeth Street, Sydney on 14 October 2004 at 10:30 a.m.
for the purpose of having an account laid before them showing
the manner in which the winding up has been conducted and the
property of the company disposed of, and the termination of the
administration.

Dated this 3rd day of September 2004

David G. Young
Liquidator
Empav Pty Limited (In Liquidation)


FLETCH BROTHERS: Sets October 14 as Date of Final Meeting
---------------------------------------------------------
Notice is given pursuant to Section 509(2) of the Corporations
Act 2001 that a Final Meeting of Members and Creditors of Fletch
Brothers Pty Limited (In Liquidation) will be held at Frasers
Insolvency Advisory, Level 9, 99 Elizabeth Street, Sydney NSW
2000 on Thursday, 14 October 2004 at 11:00 a.m.

AGENDA

(1) To consider the Liquidator's final account; and
(2) To consider any other business brought before the meeting.

Dated this 13th day of September 2004

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


GOW STREET: Schedules Final Meeting on October 14
-------------------------------------------------
Notice is given pursuant to Section 509(2) of the Corporations
Act 2001 that a Final Meeting of Members and Creditors of Gow
Street Fleet Care Pty Limited (In Liquidation) will be held at
Frasers Insolvency Advisory, Level 9, 99 Elizabeth Street,
Sydney NSW 2000 on Thursday, 14 October 2004 at 12:00 p.m.

AGENDA

(1) To consider the Liquidator's final account; and
(2) To consider any other business brought before the meeting.

Dated this 13th day of September 2004

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


JANIMA PTY: To Hold Final Meeting October 8
-------------------------------------------
Notice is hereby given that the final meeting of members of
Janima Pty Limited (In Liquidation) will be held at the offices
of G.S. Turner & Co., Chartered Accountant, Level 6, 12-14
Ormonde Parade, Hurstville on October 8, 2004 at 2 o'clock in
the afternoon for the purpose of laying before the meeting an
account showing how the winding up has been conducted and the
property of the Company has been disposed of, and of giving any
explanation thereof.

Dated this 8th day of September 2004

Geoffrey Stewart Turner
Liquidator
c/- G.S. Turner & Co
Level 6, 12-14 Ormonde Parade,
Hurstville NSW 2220
Telephone: 9570 1414,
Facsimile: 9579 6446


JOHNSON & JOHNSON: Ernst & Young Liquidators Appointed
------------------------------------------------------
At Extraordinary General Meetings of Johnson & Johnson Medical
Investments Pty Limited (In Members' Voluntary Liquidation),
held on September 1, 2004, the members of the company resolved
to wind up the company voluntarily and to appoint John Gibbons
and Keiran Hutchison of Ernst & Young, Level 16, 321 Kent
Street, Sydney NSW 2000 as Liquidators of the companies.

Dated this 14th day of September 2004

John Gibbons
Keiran Hutchison
Liquidators
Ernst & Young
Level 16, 321 Kent Street,
Sydney NSW 2000.
Telephone: (02) 9248


KENDRO PTY: To Hold Final Meeting on October 14
-----------------------------------------------
Notice is given pursuant to Section 509(2) of the Corporations
Act 2001 that a Final Meeting of Members and Creditors of Kendro
Pty Limited (In Liquidation) will be held at Frasers Insolvency
Advisory, Level 9, 99 Elizabeth Street, Sydney NSW 2000 on
Thursday, October 14, 2004 at 9:00 a.m.

AGENDA

(1) To consider the Liquidator's final account; and
(2) To consider any other business brought before the meeting.

Dated this 13th day of September 2004

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


NATIONAL AUSTRALIA: Launches Ad to Rebuild Image
------------------------------------------------
The National Australia Bank (NAB) on Sunday launched an AU$20
million advertisement aimed at rebuilding its tarnished image,
reports The Advertiser.

In the new television commercial, NAB recognizes that it has a
long way to go to repair its image, marred by its foreign
exchange scandal and the successive board battles.

The ad, which features a lone swimmer doing laps in the pool
while NAB employees look on, extends the "Journey" theme
unveiled at last months launch of the bank's Melbourne 2006
Commonwealth Games sponsorship.

According to NAB general marketing Chris Bulford, the bank hopes
to reconnect NAB's brand with consumers through the campaign
after refraining from advertising for two years.

Mr. Bulford, likewise, declared the bank would increase its
marketing expenses to ensure the new company would enhance
loyalty among its customers and boost its appeal to non-
customers. In the past year, NAB allocated only AU$12 million on
advertising.

The ad, created by advertising agency See, is part of the bank's
efforts to streamline bank processes including customer database
management and rewriting of letters in plain English.

NAB staff gave out a positive response to the new campaign,
which they viewed last week. Around 12,000 of 20,000 total staff
have sent in their shoe size, signing up for runners to be given
to all employees, symbolizing their part of the journey.

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


OBTECH PTY: Appoints Liquidators
--------------------------------
At Extraordinary General Meetings of Obtech Pty Limited (In
Liquidation) Members' Voluntary, held on 1 September 2004, the
members of the company resolved to wind up the company
voluntarily and to appoint John Gibbons and Keiran Hutchison of
Ernst & Young, Level 16, 321 Kent Street, Sydney NSW 2000 as
Liquidators of the companies.

Dated this 14th day of September 2004

John Gibbons
Keiran Hutchison
Liquidators
Ernst & Young
Level 16, 321 Kent Street,
Sydney NSW 2000
Telephone: (02) 9248 5555


PERMACREST AUSTRALIA: Sets Final Meeting on October 14
------------------------------------------------------
Notice is given pursuant to Section 509(2) of the Corporations
Act 2001 that a Final Meeting of Members and Creditors of
Permacrest Australia Pty Ltd (In Liquidation) will be held at
Frasers Insolvency Advisory, Level 9, 99 Elizabeth Street,
Sydney NSW 2000 on Thursday, 14 October 2004 at 9:30 a.m.

AGENDA

(1) To consider the Liquidator's final account; and
(2) To consider any other business brought before the meeting.

Dated this 13th day of September 2004

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


PRIMELIFE CORPORATION: FC Makes Orders on Investment Schemes
------------------------------------------------------------
The Federal Court in Melbourne has made orders in relation to
applications by the Australian Securities and Investments
Commission to appoint an investigative accountant to review the
affairs of 37 investment schemes connected with Primelife
Corporation Limited (Primelife).

Justice Goldberg declined ASIC's applications to immediately
appoint an investigative accountant to the schemes and instead
in the first instance, made orders for all of the defendants,
including Primelife and the managers of the investment schemes,
to make discovery to ASIC of certain documents relating to each
of the investment schemes.

ASIC had originally applied for these documents concerning each
of the investment schemes to be made available to the
investigative accountant so that an independent forensic report
could be provided to the court in relation to each of the
schemes, for the Court's consideration.

The Court made orders requiring each defendant, by 1 November
2004, to make discovery to ASIC, in relation to the relevant
investment scheme in which they are involved, of all documents
which relate to matters such as:

(1) the nature and identity of the assets and property of the
investment schemes connected with Primelife, and any claims by
third parties to those assets and property;

(2) the identities of the investors in the schemes and the
nature and extent of their interests, as well as any information
provided to investors concerning their investments, and any
payments made to or by investors in relation to the investment
schemes;

(3) the views of investors as to any action which ought to be
taken in relation to the winding up of the investment schemes;

(4) the nature and identity of the liabilities of the investment
schemes; and

(5) the solvency of the investment schemes.

The Court further ordered that ASIC then file and serve a
statement of facts and contentions, and any further affidavit
material upon which it seeks to rely by 22 November 2004, and
the defendants file same by 13 December 2004.
The matter is scheduled for further directions on 15 December
2004.

Background

Between 1997 and 2002, approximately 25 proposed retirement
villages/aged care facilities (13 of which are in development
and not yet operating) were sold to investment syndicates, which
ASIC alleges comprise the schemes. These retirement
villages/aged care facilities are currently, or will in the
future, be managed by Primelife.

On Monday 27 September 2004, ASIC filed applications in the
Federal Court in Melbourne, seeking the appointment of an
investigative accountant to review the affairs of 37 managed
investment schemes which had invested in the retirement
villages/aged care facilities, and to report to the Court,
because ASIC is concerned that the schemes are not registered,
as required under the Corporations Act 2001 (the Act).

Subsection 601ED(1) of the Act specifies whether a managed
investment scheme must be registered and subsection 601ED(5)
prohibits the operation of a managed investment scheme that is
required to be registered, where it is not registered.

Primelife advised ASIC of its concerns about the legality of the
schemes and is continuing to cooperate with ASIC.

CONTACT:

Primelife Corp. Ltd.
210 Kings Way,
South Melbourne, Victoria,
Australia, 3205
Head Office Telephone: (03) 8699 3300
Head Office Fax: (03) 8699 3414
Web site: http://www.primelife.com.au/


QANTAS AIRWAYS: Cuts Size of Bank Facility
------------------------------------------
Qantas Airways Limited yesterday unveiled an AU$1.9 billion
(US$1.37 billion) bank facility, slightly below its intention to
refinance AU$2.1 billion (US$1.52 billion), reports Asia Pulse.

"We decided to reduce the size of the facility from AU$2.1
billion (US$1.52 billion) to AU$1.9 billion (US$1.37 billion)
following a review of the company's future cash flow
requirements," the airline's chief financing officer Peter Gregg
said.

According to Mr. Gregg, the refinancing, which kicked off in
August, was oversubscribed with almost AU$3 billion (US$2.17
billion) in commitments from a syndicate of 33 banks.

The AU$500 million (US$361.55 million) would be used as a
reserve facility, while the remaining AU$1.4 billion (US$1.01
billion) would be divided between four and five-and-a-half year
tranches of term and revolving facilities.

Mr. Gregg said the refinancing indicates there is strong market
appetite for Qantas credit, reflecting the financial sector's
confidence in the airline's ability to meet the many challenges
it now faces.

"The transaction has also strengthened our relationship with our
core banking group," he said.

ABN AMRO Bank N.V., Barclays Capital, Citibank N.A. and
Commonwealth Bank of Australia were tapped as Joint Lead
Arrangers for the deal.

CONTACT:

Qantas Airways
Qantas Centre, Level 9,
Building A, 203 Coward Street,
Mascot, Nsw, Australia, 2020
Head Office Telephone: (02) 9691 3636
Head Office Fax: (02) 9691 3339
Web site: http://www.qantas.com


QANTAS AIRWAYS: Fails to Resolve Dispute with Union
---------------------------------------------------
A union of flight attendants said Tuesday it will lodge a
complaint with the Industrial Relations Commission against
Qantas Airways' alleged plan to train new staff to break strikes
in the future, the Associated Press relates.

The Flight Attendants Association of Australia (FAAA) met with
Qantas Tuesday but failed to resolve their dispute.

FAAA claimed the airline was training 170 "strike breakers" on
short-term contracts to step in if union members push through
with their planned strike over the carrier's plan to transfer
international flight attendant jobs to London beginning June
2005.

Qantas announced the decision June this year, saying it move
would save AU$18 million (US$13 million). However, the airline
assured no staff would be laid off and the positions would be
offered to existing crew first.

"The company told us (Tuesday) they were training up these
people for operational reasons without really justifying what
those reasons are," said Michael Mijatov, a union spokesman.

"To us, that clearly indicates that this group was being trained
up to break our strike, but the company does not want to tell us
that."

A Qantas spokesman declined to comment on the allegations.

Australia's Industrial Relations Commission will now investigate
the FAAA's claim.


SHAHANI ENTERPRISES: Schedules Final Meeting on October 14
----------------------------------------------------------
Notice is given pursuant to Section 509(2) of the Corporations
Act 2001 that a Final Meeting of Members and Creditors of
Shahani Enterprises Pty Limited (In Liquidation) will be held at
Frasers Insolvency Advisory, Level 9, 99 Elizabeth Street,
Sydney NSW 2000 on Thursday, 14 October 2004 at 11:30 a.m.

AGENDA

(1) To consider the Liquidator's final account; and
(2) To consider any other business brought before the meeting.

Dated this 13th day of September 2004

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


SWPS PTY: Members and Creditors Meeting Slated for October 14
-------------------------------------------------------------
Notice is given pursuant to Section 509(2) of the Corporations
Act 2001 that a Final Meeting of Members and Creditors of SWPS
Pty Limited (In Liquidation) will be held at Frasers Insolvency
Advisory, Level 9, 99 Elizabeth Street, Sydney NSW 2000 on
Thursday, 14 October 2004 at 1:00 p.m.

AGENDA

(1) To consider the Liquidator's final account; and
(2) To consider any other business brought before the meeting.

Dated this 13th day of September 2004

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


T&M HOLDINGS: Final Meeting Scheduled October 14
------------------------------------------------
Notice is given pursuant to Section 509(2) of the Corporations
Act 2001 that a Final Meeting of Members and Creditors of T&M
Holdings Pty Limited (In Liquidation) will be held at Frasers
Insolvency Advisory, Level 9, 99 Elizabeth Street, Sydney NSW
2000 on Thursday, 14 October 2004 at 12:30 p.m.

AGENDA

(1) To consider the Liquidator's final account; and
(2) To consider any other business brought before the meeting.

Dated this 13th day of September 2004

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


* Corporate Bankruptcies Up 8%
------------------------------
The Insolvency Notices September 2004 Quarterly Report revealed
corporate insolvencies climbed 8 percent in the three months to
September 30, 2004, The Advertiser says.

The private insolvency firm, likewise, reported voluntary
administrations rose 14 percent and firms going into
receivership were up 74 percent for the quarter to September.

The agency also saw a 17-percent decline in the number of Deeds
of Company Arrangement, where a company negotiates with its
creditors without going into liquidation.


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


ANKOR SERVICE: Appoints Liquidators
-----------------------------------
Ankor Service Limited of Unit 1-8 & 10-12, G/F, Horizon Plaza, 2
Lee Wing Street, Apleichau, Hong Kong has appointed Mr. Kelvin
Edward Flynn and Mr. Cosimo Borrelli, both of RSM Nelson Wheeler
as Joint and Several Provisional Liquidators of the company.

Provisional Liquidators' Address:
7/F, Allied Kajima Building, 138 Gloucester
Road, Wanchai, Hong Kong

Date of Appointment: 1 September 2004

E T O'CONNELL
Official Receiver

Released on 30 September 2004 through The Standard.


FOREFRONT MOTORS: Liquidators Named
-----------------------------------
Forefront Motors (Hong Kong) Limited of Shop A, G/F, Ming An
Plaza Phase 1, 3 Yun Ping Road, Causeway Bay, Hon Kong has
appointed Mr. Kelvin Edward Flynn and Mr. Cosimo Borrelli, both
of RSM Nelson Wheeler as Joint & Several Provisional Liquidators
of the company.

Provisional Liquidators' Address: 7/F, Allied Kajima Building,
138 Gloucester Road, Wanchai, Hong Kong

Date of Appointment: 1 September 2004

E T O'CONNELL
Official Receiver

Released on 30 September 2004 through The Standard.


LO PAK: Releases Notice of Full Payment Intention
-------------------------------------------------
Notice is hereby given that a full payment is planned by Lo Pak
Ho, to all creditors who have filed their claims with the
undersigned.

Any creditors who have not filed their claims by the 16th of
October 2004 will be excluded from the said payment.

Dated this 30th day of September 2004

E T O'CONNELL
Official Receiver & Trustee


PARASIA LIMITED: Winding Up Hearing Set November 24
---------------------------------------------------
Notice is hereby given that a Petition for the winding up of
Parasia Limited by the High Court of Hong Kong Special
Administrative Region was on the 2nd day of October 2004
presented to the said Court by the Joint Administrators of the
Estate of Wang Teh Huei located at the 22nd Floor, Prince's
Building, Central, Hong Kong.  

The said Petition will be heard before the Court at 9:30 am on
the 24th day of November 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.

Clifford Chance
Solicitors for the Petitioner
29th Floor, Jardine House
No. 1 Connaught Place
Central, Hong Kong

Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention 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 23rd day of
November 2004.


WONG KAI: General Creditors Meeting Slated for October 11
---------------------------------------------------------
Notice is hereby given that the General Meeting of Creditors of
Wong Kai Kwong will be held at the Official Receiver's Office,
10th Floor, Queensway Government Offices, 66 Queensway, Hong
Kong on the 11th of October 2004 (Monday) at 2:30 p.m.

Dated this 30th day of September 2004

E T O'CONNELL
Official Receiver


ZHU KUAN: HK Court Declares Bankruptcy
--------------------------------------
Zhu Kuan Group, an investment arm of China's Zhuhai municipal
government has been declared bankrupt by a Hong Kong court, The
South China Morning Post reports.

The firm was placed into liquidation after it defaulted nearly
US$1 billion (HK$7.8 billion) in loans to 34 creditor banks.

Liquidators RSM Nelson Wheeler confirmed a winding up order was
issued on Monday against Zhu Kuan Group and Zhu Kuan (Hong
Kong), the parent of Hong Kong-listed Zhu Kuan Development.

There are a total of 50 companies in the Zhu Kuan group, 17 of
these in based in Hong Kong. The companies have diverse
interests, from infrastructure and engineering to maritime, land
transport and water parks.

Monday's proceedings started the motion of officially dividing
the company's assets to its creditors. However, creditors have
not ruled out the possibility that there will be a future
settlement with the Zhuhai government. Liquidators must now take
on the ugly task of getting back the assets in Hong Kong, Macau
and Zhuhai, with more than HK$4 billion owed by the Zhuhai
government.

Zhu Kuan has not released any official statement regarding the
ruling. However, it did not discount the debt involved in
Monday's hearing.

Creditors of Zhu Kuan had already taken steps back in August
last year to protect the group's asset after the restructuring
program in 1998 fell apart.


* Big Four to Suffer if Rates Increase
--------------------------------------
Industrial and Commercial Bank of China, Bank of China, China
Construction Bank and the Agricultural Bank of China,
collectively known as the Big Four, is said to become possibly
the first sufferers if interest rates increase due to its
majority bon holdings, according to The Standard.

Collectively, the Big Four is estimated to own CNY2.4 trillion
(HK$2.26 trillion) in bonds of various sorts, the value of which
will fall as rates increase. Although falling bond prices will
not directly affect the bank's cash flow as its interest payment
will remain, the increased rates could however wipe out most, if
not all the reported profits of China's biggest lenders.

Bank of China (BOC) and China Construction Bank (CCB) are most
likely to be affected by this as both intend to sell shares by
next year. BOC and CCB, received a bail out from the government,
have only begun its restructuring in order to lure investors.

Premier Wen Jiabao and central bank governor Zhou Xiaochuan have
both ruled out the possibility of an increase. Analysts, on the
other hand, expressed a different opinion saying that China's
interest rates are headed higher, especially if the economy
recovers.

Majority of the Big Four's assets comprise of government bonds,
which come from China's immature state of financial system. The
banks hold a disproportionate 77 percent share, making it
difficult for them to sell the bonds in advance in case of a
rate rise.

CCB holds CNY826 billion worth of bonds and BOC with CNY758
billion. Industrial and Agricultural Bank both hold similar
amounts. Shanghai Securities News believe that if the People's
Bank of China boosts rates by only a quarter of a per cent, that
will drive down the market value of long-term debt by 1.5 per
cent.

Therefore, despite the size of the banks holdings, any modest
hike would create a big impact on reported profits, as any
decline must be deducted against income that could result in a
reduction in reported profits of CNY36 billion.

BOC and Construction Bank have only gained CNY4.59 billion and
CNY411 million respectively the past year. The reason is said to
be the fast cash build up in their accounts. Deposits have
reached CNY12 trillion, an amount that is expected to increase
with the booming economy.

However, banks have become cautious about lending to the Chinese
government's austerity program, after restrictions imposed by
the central bank.


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


BANK PERMATA: PPA To Announce Winning Bidder Tomorrow
-----------------------------------------------------
The Indonesian government is set to receive final bids for a 51-
percent stake in PT bank Permata today and announce the winning
bidder tomorrow, Dow Jones relates.

State-owned Asset Management Company (PPA) President Mohammad
Sjahrial affirmed PPA will receive final bids from five short
listed potential investors, including Malayan Banking Bhd,
Singapore's United Overseas bank, and consortiums led by
Malaysia's Commerce Bank, PT Bank Pan Indonesia, and Standard
Chartered Bank and Astra International.

Based on the preliminary bids, the government could generate up
to IDR2.3 trillion from the sale.

Meanwhile, Mr. Syarial expects that the five short listed
bidders will make higher offers for Permata following a four-
week examination into the bank's financial performance from last
month.

The government, which owns 71-percent of Bank Permata, will use
the proceeds from the divestment to plug the country's budget
deficit.

CONTACT:

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


BANK PERMATA: Bank Panin Units Join Bid for 51% Stake
-----------------------------------------------------
Two units of Bank Panin, PT Panin Insurance and PT Panin Life,
have decided to join a consortium consisting of its parent
company and ANZ Limited to bid for a 51-percent stake in bank
Permata, says The Jakarta Post.

Both companies agreed to participate in the tender for the
government's controlling stake in Permata amid calls from state
Asset Management Company (PPA) for the consortium to increase
its capital reserves to sufficiently bid for Permata.

"We've informed the shareholders that we are currently joining
the Panin consortium to bid for Permata," said both Panin
Insurance and Panin Life in their report to the Jakarta Stock
Exchange (JSX).

Bank Panin could have difficulty generating funds to acquire
Permata because of its limited capital and the central bank
regulation that limits the size of a bank's divestment in a
single entity to not more than 10 percent of net equity.

As of June, the bank's equity stood at IDR1.6 trillion (US$177
million) with assets valued at IDR21.3 trillion. The equity is
likely far from enough to acquire Permata despite a contribution
from ANZ, which has a 29 percent stake in Panin.

The government, via PPA, plans to divest a 51-percent stake in
Permata to strategic investors late this year.

Five bidders have been short-listed and have recently presented
their business plans for Permata in a due diligence session at
the PPA office.


BUMI RESOURCES: Secures US$385 Mln Loan
---------------------------------------
PT Bumi Resources (JSE:BUMI) has obtained a US$385 million loan
from a syndicate of 24 Asian and European banks, Asia Pulse
says.

The coal miner's President, Arie Hudaja, confirmed the loan fund
will be used to repay debts to four foreign banks due in the
next to years. The debts to the four banks were used to acquire
Kaltim Prima Coal.

Mr. Arie said refinancing the debt before maturity will save the
firm from paying a higher interest rate. He pointed out that the
previous loan carries an annual interest rate of 12 percent
compared to 6 percent on the new loan.

Including tax, the early repayment will save the company US$25
million a year.

CONTACT:

Pt Bumi Resources Terbuka
Jl HR Rasuna Said Kav C-5
Wisma Bumiputera, Lantai 3
Jakarta 12940
Indonesia  
Phone: +62 21 521 3131
Fax: +62 21 521 3737/3738  
Web site: http://www.bumiresources.com/


PERTAMINA: Mulls Purchase of 240,000 Bbl Jet A-1 for November
-------------------------------------------------------------
PT Pertamina (PTM.YY) is planning to purchase two jet A-1
cargoes containing 240,000 barrels for November delivery in its
latest import tenders, says Dow Jones.

The state oil and gas firm seeks two cargoes of 120,000 bbl each
of jet to be delivered to Jakarta on November 4-6 and November
18-20.

The tender closes on October 7 and is valid for two days.

Pertamina, which decided not to buy fuel oil for October
delivery, last purchased oil for a September delivery cargo of
210,000 bbl, 140 cst fuel oil from Petco, a trading arm of
Petronas (PET.YY).

Meanwhile, traders affirmed Pertamina has no requirement to buy
high-sulfur oil in the November import tender. Any requirements
for other oil products such as gasoil and gasoline haven't been
confirmed, but there is a strong indication that there were none
of these products.

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
=========


FUJITSU LIMITED: Succeeds in Hi-precision, Hi-speed BioServer
-------------------------------------------------------------
Fujitsu announced October 1 that, in collaboration with Fujitsu
Laboratories, it has successfully calculated the binding energy
of protein and drug candidates highly accurately and at high
speeds, using its proprietary massively parallel simulation
server BioServer, says the Japan Corporate News Network.

The latest success confirms the possibility of in-silico drug
design, a drug design simulation without having to conduct vitro
experiments. Moreover, it will lead to the further acceleration
of the development of various drugs including immunosuppressive
and anti-aging agents.

Detailed research results were already presented at the
International Conference on Biological Physics 2004, held in
Sweden in August.

CONTACT:

Fujitsu Limited
1-1, Kami-kodanaka 4-Chome
Marunouchi Center Building
Nakahara-ku, Kawasaki-City 211-0053,
Kanagawa 100-8211
Japan  
Phone: +81 44 777 1111
Fax: +81 3 32169365  
Web site: http://www.fujitsu.com/


HANNOU KAIHATSU: Enters Bankruptcy
----------------------------------
Golf course developer Hannou Kaihatsu K.K. has entered
bankruptcy with total liabilities of US$175 million. The company
is located in Hannou-shi, Saitama 357-0068.

For more information, visit http://www.teikoku.com/.


KOBE STEEL: Strengthens Welding Alliance with JFE Steel
-------------------------------------------------------
Kobe Steel, Ltd. and JFE Steel Corporation announced Tuesday
that they have reached a basic agreement that will further
strengthen their ongoing alliance in the welding business. Their
joint venture, KOBE JFE Welding Co., Ltd., will become a wholly
owned subsidiary of Kobe Steel. Kobe Steel currently holds an
80% share in KOBE JFE Welding, while JFE Steel has 20%.

In addition, the JFE Steel Group plans to transfer 80% of its
entire equity held in JFE Welding Rod Co., Ltd., a JFE Steel
Group company that markets welding consumables, to Kobe Steel.
Both changes will take place on April 1, 2005.

In July 2002, Kobe Steel and JFE Steel began to collaborate in
the research and development of welding consumables in order to
strengthen and further develop their welding businesses. On
October 1, 2003, they established KOBE JFE Welding Co., Ltd.,
which began consignment production of solid welding wires.

The alliance provides Kobe Steel and JFE Steel with adequate
preparation time to transfer original technology for welding
consumables. As a result, the production of solid welding wires
will be consolidated to Kobe Steel and KOBE JFE Welding,
allowing JFE Steel to close down its Chiba district welding
plant at its East Japan Works at the end of March 2005.

JFE Welding Rod will continue to supply welding consumables to
the shipbuilding, steel structure, automotive and numerous other
customers.


Profile of Kobe Steel's Welding Business

Sales: Roughly JPY40 billion (fiscal 2003)
Products: Covered welding rods, solid welding wires, flux-cored   
welding wires, submerged arc welding wires and fluxes, welding
robots and systems
Facilities: Ibaraki Plant (Osaka), Saijo Plant (Hiroshima),
Fujisawa Industrial Operations (Kanagawa)
Overseas locations: Thailand, Singapore, Malaysia, Indonesia,
United States, South Korea, Netherlands, China
Business scope: Integrated business covering R&D, production and
marketing
Employees: 508 (fiscal 2003)

Profile of KOBE JFE Welding Co., Ltd.

Established: October 2003
President: Isao Aida (concurrently managing director at Kobe
Steel)
Capital: JPY250 million (as of March 31,2004)
Equity share: Kobe Steel 80%, JFE Steel 20%
Sales: JPY2,924 million (second-half fiscal 2003)
Business: Production of welding consumables
Employees: Approximately 150 (as of March 31, 2004)


Profile of JFE Welding Rod Co., Ltd.
Established: March 1954
President: Takumi Ishizaki
Capital: JPY80 million (at March 31, 2004)
Equity Share: JFE Steel 59.2%, JFE Shoji Trading Corporation
40.8%
Sales: JPY4,758 million (fiscal 2003)
Business: Sale of welding consumables
Employees: 40 (at March 31, 2004)

About Kobe Steel, Ltd.

Kobe Steel, Ltd. (TSE: 5406) is one of Japan's leading steel
makers and producers of aluminum and copper products. Other
businesses include welding consumables, infrastructure and plant
engineering, machinery, and real estate.

About JFE Holdings

JFE Holdings (TSE: 5411) is the second largest Japanese steel
maker and manufactures steel products such as bars, pipes, steel
frames, tubes and stainless steel for the automotive,
construction, and petroleum industries. The "J" in JFE stands
for "Japan"; "F" is for "Fe," the chemical symbol for "iron";
and "E" stands for "engineering." JFE Holdings dissolved its
subsidiaries in 2003 and Kawasaki Steel and NKK combined them
into the following business segments: steel, engineering, urban
development, semiconductors, and research and development.

CONTACT:

Kobe Steel, Ltd.
Publicity Group
9-12 Kita-Shinagawa 5-chome
Shinagawa-ku, Tokyo 141-8688
Japan
Phone: +81 (0)3 5739-6010
Fax: +81 (0)3 5739-5971
E-mail: www-admin@kobelco.co.jp
Web site: http://www.kobelco.co.jp

JFE Steel Corporation
Public Relations Sec.
Tel  +81 (0)3 3597-3166
Fax  +81 (0)3 3597-4911


MITSUBISHI MOTORS: Ex-Chief Pleads Innocent in Fatal Crash Case
---------------------------------------------------------------
The former chief of Mitsubishi Motors Corporation (MMC) denied
charges of professional negligence in a fatal crash that was
allegedly caused by faulty design, reports the Associated Press.

Katsuhiko Kawasoe, who served as MMC's president four years ago,
pleaded innocent at the Yokohoma District Court at his opening
trial. Mr. Kawasoe admitted the struggling automaker had for
decades hid vehicle defects from authorities.

Earlier this year, MMC and its former truck unit Mitsubishi Fuso
Truck and Bus Corporation stunned the Japanese public when they
revealed they continued to hide design problems since 2000. The
admissions sent Mitsubishi car sales plummeting.

Prosecutors claimed Mr. Kawasoe, former Mitsubishi Fuso Chairman
Takashi Usami, former executive overseeing truck operations Yuzo
Murata and former head of quality control Tatasuro Nakagami knew
of a clutch design-defect for several years but failed to report
it to the Ministry of Transport or take necessary measures to
ensure safety.

The defect is suspected in the October 2002 accident in
southwestern Japan that killed a 39-year-old driver, who crashed
into a concrete embankment after his brakes failed.

Mr. Kawasoe's follows another hearing that opened last month
against two former Mitsubishi officials accused of professional
negligence in a January 2002 fatal accident, in which a wheel
flew off a Mitsubishi truck and crushed a pedestrian.

The charge of professional negligence resulting in death carries
a maximum penalty of up to five years in prison or fines of
JPY500,000 (US$4,500) upon conviction.

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


MITSUBISHI MOTORS: Comments on First Trial of Ex President
----------------------------------------------------------
Mitsubishi Motors Corporation, through its Chairman and CEO
Yoichiro Okazaki, issued the following statement concerning the
first public hearing involving a former president:

"(Yesterday), public trials regarding the October 2002 accident
caused by the failed clutch housing of a Fuso heavy-duty truck
have begun. I once again offer my sincere regrets to the
bereaved family and the prayer that the soul of the victim may
rest in peace.

"We, as a company, take very seriously the accusation of one of
our former presidents in this case. As the trial progresses, we
believe more facts concerning the case will become clear. We
will follow the case closely, and will pay close attention to
the outcome.

"Regardless of the fact that this trial involves several
individuals, the fact that concealed recall information
contributed to this accident has made us realize the importance
of corporate social responsibility. As part of this
responsibility, we will comply fully with the wishes of the
bereaved family.

"Presently, as we promote post-market measures, we are also
accelerating our internal investigation into the recall problems
of the year 2000, which is being conducted by lawyers outside of
the company, and we will treat those responsible in an
appropriate manner. Through these activities, we will make
efforts to prevent future recurrences, reform company quality
and promote traffic safety."


MITSUBISHI MOTORS: Details Progress on Past Recalls Probe
---------------------------------------------------------
In a press release dated October 6 published in its website,
Mitsubishi Motors Corporation issued the following statement
regarding the progress of the investigation into the causes of
past recalls:

"We sincerely apologize for the worry and anxiety caused to
society as a result of the past recall problem.

"In order to achieve the goal of business revitalization under
the new management, we determined that it was essential to
launch an investigation into the reasons for the past recall
problems, and to take steps in order to prevent such incidents
from happening a second time. To achieve this, a team of lawyers
from outside the company was established, which is thoroughly
studying the decision-making processes and the negative
corporate culture at the time of the 2000 recall problem.

"Since July 6th 2004, a team of thirteen lawyers from outside
the company began investigating the origins and the sequence of
events of the recall problem. According to the team, relevant
documents and trial papers have been studied and testimony from
several of the persons mainly involved in the issue in 2000 has
been heard a number of times. With regard to the Mitsubishi Fuso
Truck and Bus Company hub and clutch housing problems, a group
of nine lawyers from within the same group of thirteen are
investigating the issue. The company is cooperating fully with
the legal team in its investigation by providing documents and
testimony, and it is our sincere wish that the investigation
proceed without limits and with impartiality.

"The team of outside lawyers is planning to continuously
investigate, to determine the process that lead to the problem,
to hold meetings with former executives and to learn more about
the circumstances during that period. Provided that the team
does not find any new matters that require further
investigation, the company expects to receive their report at
the end of December this year. Once we have received their final
report, the company will present their report to the Business
Ethics Committee and we will determine who was responsible and
take appropriate measures as necessary. We will make a public
announcement concerning these issues as soon as possible, while
observing the proceedings of the trial that is currently in
progress."


NISSAN MOTOR: To Recall 26,077 Cars
-----------------------------------
Nissan Motor has notified the transport ministry that it is
recalling 26,077 vehicles including about 100 in the United
States for free repair of defective brake lights and faulty
bolts in the car's propeller shaft, relates the Associated
Press.

Subject to recalls are the Cima, President, Skyline sedans and
Stagea wagons manufactured in Japan between December 2000 and
June 2004. Of the vehicles in question, 25,977 were sold in
Japan.

Transport Ministry spokesman Toshihiko Kude said a loosened bolt
could cause the propeller shaft linked to the front wheel to
come off. That defect affects most of Nissan's cars in the
recall.

The remaining 259 cars, including 100 Cima models exported to
the U.S., had a faulty brake light resulting from the use of a
different lubricant oil production.

CONTACT:

Nissan Motor Co., Ltd.
17-1, Ginza 6-chome, Chuo-ku
Tokyo, 104-8023, Japan
Phone: +81-3-3543-5523
Fax: +81-3-5565-2228
Web site: http://www.nissan-global.com


OGAWA DENKI: Declared Bankrupt
------------------------------
Industrial plastic product manufacturer Ogawa Denki K.K. has
been declared bankrupt, Teikoku Databank America says. The firm,
headquartered in Koka-gun, Shiga 529-1833, has total liabilities
of US$25 million.

For more information, visit http://www.teikoku.com/.


TOSHIBA CORPORATION: To Initiate Steps to Aid AV Businesses
-----------------------------------------------------------
Toshiba Corporation has announced in a press release that it
will be initiating a series of steps to enhance its audio-visual
(AV) business and to support positioning of the business as a
pillar for profit generation by fiscal 2006.

This is one of the central goals of the mid-term business plan
that Toshiba announced in April 2004.

The measures are designed to strengthen innovative product lines
and to promote overall capabilities in four areas: AV product
reinforcement; sales, service and support; development and
manufacturing; and new business cultivation and promotion.

CONTACT:

Toshiba Corporation
1-1, Shibaura 1-chome, Minato-ku
Tokyo, 105-8001, Japan
Phone: +81-3-3457-4511
Fax: +81-3-3455-1631
Web site: http://www.toshiba.com


TOSHITOKU KISEN: Faces Insolvency
---------------------------------
Toshitoku Kisen K.K, a firm engaged in marine vessels rentals,
has entered bankruptcy, according to Teikoku Databank America.
The company based in Shimonoseki-shi, Yamaguchi 750-0066, left
total liabilities worth US$38.33 million.

For more information, visit http://www.teikoku.com/.


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


KOREA EXCHANGE: Labor Union Says Job Cut is Illegal
---------------------------------------------------
Some 900 Korea Exchange Bank jobs may be cut starting next week,
reports the Digital Chosunilbo.

The bank sent a proposal to the union last month outlining
improvements to the personnel system and asking union members to
participate in restructuring talks.  The proposal states that
the bank's workforce is bloated by 900 redundant jobs.

The bank offers an additional 18 months in compensation wages
for voluntary retirees, the same offer employees of KB Card got
when the credit card company was merged in February.

The union argues that the bank's attempt to lay off employees is
illegal.  The labor union says that forcing the bank employees
to retire voluntarily amounts to a camouflaged layoff.  

Labor and management at KEB have negotiated the company's
restructuring for about one month now, but have failed to find
common ground, with the union arguing that the workforce is not
too large and management arguing the opposite.

KEB reported a KRW258.7 billion if profits in the first half of
this year.

CONTACT:

Korea Exchange Bank (Exchange: Korea)
181 2-ga Ulchiro, Chung-gu
Seoul, 100-793, South Korea
Phone: +82-2-729-8000
Fax: +82-2-752-3141
Web site: http://www.keb.co.kr/english/index.htm


SK NETWORKS: Share Reduction Plan Gains Creditors' Approval
-----------------------------------------------------------
Creditors of SK Networks Co. Ltd. have approved the company's
plan to reduce share capital by 71 percent, according to
Reuters.

More than 75 percent of the creditors favored SK Network's
proposal to merge every 35 shares into 10.  The share reduction
plan is part of a creditor-led restructuring following an
accounting scandal last year, which pushed the company to the
verge of bankruptcy.

SK Networks disclosed to the Korea Stock Exchange at the end of
last month that it was planning a stock split to lower the face
value of the shares by half to 2,500 won apiece.

In South Korea, creditors restructuring an indebted company
usually sharply reduce its share capital to clean up the
company's books and lower existing shareholders' stakes before
injecting fresh cash.

SK Networks reported a KRW4.25 trillion ($3.70 billion) in
liabilities and KRW4.64 trillion in assets as of end June.

CONTACT:

SK Networks Co.
Head Office
199-15, Euljiro-2Ga,
Jung-Gu, Seoul,
Korea 100-192,
Tel: 82-2-2221-2114
Fax: 82-2-754-9414
E-mail: webmaster@sknetworks.co.kr


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


ANCOM BERHAD: Purchases 12,000 Ordinary Shares on Buy Back
----------------------------------------------------------
Ancom Berhad disclosed the details of its shares buy back on
October 5, 2004.

Date of buy back: 05/10/2004

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

Total number of shares purchased (units): 12,000

Minimum price paid for each share purchased (RM): 0.795

Maximum price paid for each share purchased (RM): 0.800

Total consideration paid (RM):  

Number of shares purchased retained in treasury (units): 12,000

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

Cumulative net outstanding treasury shares as at to-date
(units): 5,046,000

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
   

BERJAYA GROUP: AGM Set For October 28
-------------------------------------
Notice is hereby given that the 36th Annual General Meeting
(AGM) of Berjaya Group Berhad will be held at Perdana Ballroom,
Bukit Jalil Golf & Country Resort, Jalan 3/155B, Bukit Jalil,
57000 Kuala Lumpur on Thursday, 28 October 2004 at 10:30 a.m.

For a full copy of the AGM Notice, go to
http://bankrupt.com/misc/tcrap_berjaya1006.doc

CONTACT:

Berjaya Group Berhad Co.
11th Fl., Menara Berjaya, KL Plaza, 179,
Jalan Bukit Bintang
55100 Kuala Lumpur, Malaysia
Phone: +60-3-2935-8888
Fax: +60-3-2935-8043


CHG INDUSTRIES: Issues Restructuring Scheme Update
--------------------------------------------------
Further to the announcement on 2 September 2004, CHG Industries
Berhad is presently preparing for the applications on the
Proposed Debt and Corporate Restructuring Scheme to the relevant
authorities.

CONTACT:

CHG Industries Berhad
8th Mile Jalan Cheras
Cheras, Selangor Darul Ehsan 43200
Malaysia
Telephone: +60 3 907 58811
Telephone: +60 3 907 66215

This Bursa Malaysia Securities Berhad announcement is dated 5
October 2004.


DATAPREP HOLDINGS: Unveils New Placement of Shares
--------------------------------------------------
Further to the announcements dated 30 June 2004 and 3 August
2004, the Board of Directors of Dataprep Holdings Berhad
announced that Bursa Malaysia Securities Berhad had granted its
approval-in-principle for additional listing of and quotation
for up to 6,400,000 new Placement Shares to be issued pursuant
to the Proposed private placement of up to 6,400,000 new
ordinary shares of RM1.00 each in the Company (Placement
Shares), representing approximately 10% of the issued and paid-
up share capital of the Company.

CONTACT:

Dataprep Holdings Berhad
Lot 69-73, Jalan Setiabakti
Bandar Damansara
50490 Kuala Lumpur, WP
Malaysia
Tel no: 603-2539625
Fax no: 603-2539620

This announcement is dated 5 October 2004.


FURQAN BUSINESS: Unit Issues Debt Payment Notice
------------------------------------------------
The Board of Directors of Furqan Business Organisation Berhad
announced that on 20 September 2004, its unit Broadland
Construction Sdn. Bhd. (BCSB) had been served with a copy of the
Notice pursuant to Section 218 of the Companies Act, 1965 dated
17 September 2004 in respect of the payment of RM200,658.81 due
to M-Pile Resources Sdn. Bhd. by BCSB.

The Company is seeking legal advise on the matter.

CONTACT:

Furqan Business Organisation Berhad
247 Jalan Tun Razak
Kuala Lumpur, KUALA LUMPUR 50400
Malaysia
+60 3 2148 9999
+60 3 2148 9992


GEAHIN ENGINEERING: Issues Restructuring Scheme Update
------------------------------------------------------
Geahin Engineering Berhad refers to the announcements dated 30
December 2002 and 2 January 2004 in relation to its proposed
restructuring scheme.

On behalf of Geahin, Public Merchant Bank announced that the
Securities Commission had vide its letter dated 4 October 2004,
approved Geahin's application for an extension of time of an
additional two (2) months up to 30 November 2004, to complete
the proposed restructuring scheme.

CONTACT:

Geahin Engineering Berhad
8999 Kawasan Perindustrian
Batu Berendam
(Fasa IV) Batu Berendam
75350 Melaka
Telephone: 06-2819998
Fax: 06-2813988
Website: www.mssa.org.my/geahin


GOLDEN PLUS: Updates Winding Up Petition
----------------------------------------
Golden Plus Holdings Berhad (GPHB) had on 4 October 2004
received a notice from its solicitors informing that Messrs
Henry Soong & Chang, solicitors for the petitioner, Meng Kee
Lime Products Trading has filed a Notice of Discontinuance
(dated 22 September 2004) with the High Court of Malaya at Kuala
Lumpur for discontinuing the action of the winding-up of its
unit Golden Plus Builders Sdn Bhd.

This announcement is dated 5 October 2004


HAP SENG: Unit Faces Winding Up Petition
----------------------------------------
Forward Supreme Sdn Berhad (FSSB), a wholly owned subsidiary of
Hap Seng Consolidated Berhad (HSCB), has been placed under
members' voluntary winding up following the passing of a Special
Resolution on 5 October 2004.

FSSB was incorporated on 5 October 2000 for the purpose of
holding trademarks. The authorized and paid-up capital of FSSB
is RM47,247.00. FSSB had been dormant since 2002 and has no
plans to re-commence business in the future.

The winding-up of FSSB will not have any financial and
operational material impact on HSCB.

CONTACT:

Hap Seng Consolidated Berhad
No 1A Jalan 205
Petaling Jaya, Selangor Darul Ehsan 46050
MALAYSIA
+60 3 7783 9888
+60 3 7781 6305

This announcement is dated 5 October 2004.


HUME INDUSTRIES: Disposes Of 2,895,000 Ordinary Shares in Tasek
---------------------------------------------------------------
On September 30, 2004, Hume Industries (Malaysia) Berhad
disposed of 2,895,000 ordinary shares of RM1.00 each in Tasek
Corporation Berhad. The shares were disposed of to Lydale Pte
Ltd, a wholly owned subsidiary of Hong Leong Asia Ltd, which in
turn is a subsidiary of Hong Leong Investment Holdings Pte Ltd
(HLIH).

HLIH, Mr. Kwek Leng Beng, Kwek Holdings Pte Ltd and Davos
Investment Holdings Private Limited are also deemed substantial
shareholders of HIMB and Tasek Corporation Berhad. Save as
disclosed herein and in our announcement of 30 September 2004,
the Company is not aware of any of its other Directors,
substantial shareholders and persons connected with them, having
any interest, direct or indirect, in the Disposal.

CONTACT:

Hume Industries (Malaysia) Berhad
18 Jalan Perak
Kuala Lumpur, 50450
MALAYSIA
+60 3 2164 2631
+60 3 2164 2514

This announcement is dated 4 October 2004.


I-BERHAD: Issues Book Closure Notice
------------------------------------
I-Berhad disclosed to Bursa Malaysia Securities Berhad a notice
of Book Closure relating to the Company's Fifth Interest Payment
on RM40,392,000 nominal value of 5% Irredeemable Convertible
Unsecured Loan Stocks 2002/2007 (ICULS) for the period from 2
May 2004 to 1 November 2004.

1) The Company's securities will be traded and quoted [Ex -
Interest] as from: [19 October 2004]

2) The last date of filing: [21 October 2004]

3) Date Payable: [1 November 2004]


MEDAS CORP: SC OKs Proposed Exemption From Mandatory Offer
----------------------------------------------------------
Further to the announcement dated 30 March 2004, Avenue
Securities Sdn Bhd on behalf of the Board of Directors of Medas
Corporation Berhad announced that the Securities Commission (SC)
has, via its letter dated 5 October 2004, approved the Proposed
Exemption From Mandatory Offer.

In connection with the above, the Parties Acting In Concert (as
define therein) are required to inform the SC whenever the
Parties Acting In Concert deal in the Gromutual Shares for a
period of twelve (12) months after SC's approval for the
Proposed Exemption From Mandatory Offer, as provided for, under
paragraph 11 of Practice Note 2.9.1 of the Malaysian Code on
Takeovers and Mergers.

The proposed restructuring scheme is as follows:

Proposed Capital Reconstruction;
Proposed Acquisition Of The Emerald Group;
Proposed Exemption From Mandatory Offer;
Proposed Private Placement;
Proposed Disposal Of Medas; And
Proposed Listing Transfer

CONTACT:

Medas Corporation Berhad
Esprit Management Services Sdn Bhd
3rd Floor, No. 17
Jalan Ipoh Kecil
50350 Kuala Lumur
Tel: 03-4044 3235
Fax: 03-4041 3959

This announcement is dated 5 October 2004.


MTD CAPITAL: Posts Shares Buy Back Notice
-----------------------------------------
MTD Capital announced the details of its shares buy back on
October 5, 2004.
   
Date of buy back: 05/10/2004

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

Total number of shares purchased (units): 200,000

Minimum price paid for each share purchased (RM): 2.530

Maximum price paid for each share purchased (RM): 2.550

Total consideration paid (RM): 509,960.00

Number of shares purchased retained in treasury (units):
200,000

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

Cumulative net outstanding treasury shares as at to-date
(units): 3,697,200

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: Granted Listing of 1,297,300 Ordinary Shares
--------------------------------------------------------
Naim Indah Corporation Berhad's additional 1,297,300 new
ordinary shares of RM0.20 each arising from the conversion of
1,297,300 nominal value of RM0.20 irredeemable convertible
unsecured loan stocks into 1,297,300 new ordinary shares will be
granted listing and quotation with effect from 9 a.m., Thursday,
7 October 2004.

CONTACT:

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


PILECON ENGINEERING: Unit's Default Status Unchanged
----------------------------------------------------
Pilecon Engineering Berhad announced that there have been no
changes to the default status of its subsidiary Transbay
Ventures Sdn Bhd (TVSB) pursuant to the Practice Note 1/2001 of
the Bursa Malaysia Securities Berhad Listing Requirements.

CONTACT:

Pilecon Engineering Berhad
No. 2, Jalan U1/26 Seksyen U1,
Hicom-Glenmarie Industrial Park, Shah Alam,
Selangor Darul Ehsan 40000 Malaysia
Telephone: (603) 704-1888


RHB CAPITAL: Monthly Disclosure Pursuant To Paragraph 5.11(2)
-------------------------------------------------------------
On behalf of Rashid Hussain Berhad, RHB Capital Berhad announced
the movement of the Call Warrants 2003/2007 up to 30 September
2004 pursuant to Paragraph 5.11(2) of the Bursa Malaysia
Securities Berhad Listing Requirements as follows:


          Particulars        Number of Call Warrants 2003/2007

The number of Call Warrants       Nil
2003/2007 exercised during
the month of September 2004

The cumulative number of          Nil
Call Warrants 2003/2007
exercised up to 30
September 2004

The number of Call                340,438,934  
Warrants 2003/2007
outstanding as at
30 September 2004

CONTACT:

Rhb Capital Berhad
Jalan Tun Razak
Kuala Lumpur, 50400
MALAYSIA
+60 3 9287 8888
+60 3 9280 6507

This announcement is dated 5 October 2004.


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


NEGROS NAVIGATION: Court OKs Rehab Plan
---------------------------------------
The court has approved on Tuesday the 10-year corporate
rehabilitation plan of debt-ridden shipping firm Negros
Navigation Corporation (Nenaco), the Business World reports.

Judge Artermio S. Tipon said the liquidation scenario will only
account for 80 percent of the shipping firm's debts, lead to the
loss of more than 1,000 jobs, and permit one shipping firm to
monopolize the domestic shipping industry.

The Company filed for corporate rehabilitation on March 29,
2004. Its debts had hit PhP2.5 billion and the firm said its
financial woes could be traced to a decrease in passenger volume
and to the 1997 Asian financial crisis, which increased interest
rates and operating costs.

Nenaco currently operates nine vessels versus the 20 vessels run
by leading shipping firm Aboitiz Transport Services Co.

CONTACT:

Negros Navigation Co. Inc.
Pier II, North Harbor
Tondo, Manila
Telephone Number:  245-5588
Fax Number:  245-0780 (Telefax)
Email Address: nnwebmaster@surfshop.net.ph
Website: http://www.nenaco.com.ph


PUERTO AZUL: Php1.4B Outstanding Debts Granted Reprieve
-------------------------------------------------------
Judge Enrico A. Lanzanas of the Manila trial court has granted
debt-saddled resort operator Puerto Azul Land Inc. a reprieve of
Php1.4 billion in liabilities, the Business World reports.

The directive effectively bars Puerto Azul creditors,
particularly listed Export and Industry Bank, Inc., from
enforcing its claims whether through a collection suit or other
legal ways to compel payment.

Judge Lanzanas also set the initial meeting of Puerto Azul with
its creditors on November 10. He ordered the firm's creditors
and other interested parties, including the Securities and
Exchange Commission to file their position papers at least 10
days from the hearing date.

Puerto Azul is the owner and developer of the Puerto Azul
complex in Ternate, Cavite, which the company was supposed to
transform into a satellite city and a tourist destination.


PUERTO AZUL: Creditor Seeks To Replace Receiver
-----------------------------------------------
Export and Industry Bank, Inc. (Exportbank) has requested the
court to replace Puerto Azul Land Inc.'s rehabilitation receiver
Patrick V. Caoile, as his expertise lies on mining, and not on
corporate rehabilitation, the Business World reports.

Exportbank instead asked for the appointment of lawyer Manuel D.
Yngson Jr., which is the rehabilitation receiver of Grand
Boulevard, formerly Silahis Hotel International.

Further, Exportbank asked the court to consider its choice,
emphasizing that Mr. Caoile was turned down by another court
when he was nominated as rehabilitation receiver of Grand
Boulevard.


UNITED COCONUT: First Sovereign Buys Bad Assets Worth Php13.6B
--------------------------------------------------------------
First Sovereign Funds Corp., a foreign asset management company
(AMC), has acquired United Coconut Planters Bank's (UCPB) bad
assets worth Php13.6 billion, The Philippine Star reports. The
deal was a purely ROPOA (real and other properties owned or
acquired) package.

UCPB President and Chief Executive Officer Jose L. Querubin said
the sale would reduce by more than 55 percent the bank's ROPOA
level.

Querubin said the bank's financial advisor,
PricewaterhouseCoopers, legal counsel SyCip Salazar Hernandez &
Gatmaitan Law Office, and First Sovereign Funds "are now working
out the finer details of the agreement and expect to be able to
close the transaction before the April 8, 2005 deadline mandated
under the Special Purpose Vehicle (SPV) Act of 2002."

CONTACT:

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

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


* State-owned Firms Seen Posting Php131B Losses
-----------------------------------------------
Forty-nine government-owned corporations (GOCCs) and government
financial institutions (GFIs) will post a combined net loss of
PhP131.16 billion at the end of this year, reports the Business
World.

Consequently, some of these GOCCs and GFIs will require some
PhP13.7 billion in subsidies from the National Government to
keep them afloat this year, Camarines Sur Rep. Rolando G.
Andaya, Jr. said in a statement.

The National Food Authority, which is expected to post a loss of
PhP14.552 billion by yearend, almost double the PhP7.585 billion
recorded at the end of 2003.

The Light Rail Transit Authority, Philippine National Oil Co.,
National Home Mortgage and Finance Corp., Technology and
Livelihood Resource Center, National Tobacco Administration and
Philippine Television Network. Inc. will similarly incur losses,
although substantially less or just a little more than what they
incurred in 2003.

These are among 15 losing GOCCs and GFIs that Budget Secretary
Emilia T. Boncodin has warned to shape up or else they will be
abolished.


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


CHUNGSING HOLDINGS: Faces Winding Up Proceedings
------------------------------------------------
In the Matter of Chungsing Holdings Pte Ltd, a Winding Up Order
was made on the 24th day of September 2004.

Name and Address of Liquidator:
Official Receiver
The Insolvency Service
Insolvency & Public Trustee's Office
The URA Centre (East Wing)
45 Maxwell Road #06-11
Singapore 069118.

Dated this 24th day of September 2004

Messrs Wong Yoong Phin & Co
Solicitors for the Petitioner

This Singapore Government Gazette notice is dated October 1,
2004.


CONTECH REALTY: Final Meeting Slated for November 2
---------------------------------------------------
Notice is hereby given that the Final General Meeting of the
members of Contech Realty Pte Ltd will be held at 47 Hill
Street, #05-01 Chinese Chamber of Commerce & Industry Building,
Singapore 179365 on 2nd November 2004 at 10.00 am for the
following purposes:

(1) To receive an account from the Liquidators showing the
manner in which the winding up has been conducted and the
property of the Company disposed of and to hear any explanations
that may be given by the Liquidators.

(2) To determine by resolution the manner in which the books,
accounts and documents of the Company and of the Liquidators,
shall be disposed of.

Dated this 1st day of October 2004.

Kon Yin Tong
Wong Kian Kok
William Caven Hutchison
Joint Liquidators

Note: A member entitled to attend and vote at the General
Meeting is entitled to appoint a proxy to attend and vote in his
stead. All proxies should be deposited at the Liquidators'
Office not less than forty-eight hours before the time for
holding the meeting or any adjournment thereof. A proxy need not
be a member of the Company.

This Singapore Government Gazette notice is dated October 1,
2004.


HIAP HENG: Winding Up Order Made
--------------------------------
In the Matter of Hiap Heng Chng (Singapore) Private Limited, a
Winding Up Order was made on the 24th day of September 2004.

Name and address of Liquidators:
Ong Yew Huat and Seshadri Rajagopalan
both of Messrs Ernst & Young
10 Collyer Quay
#21-01 Ocean Building
Singapore 049315

Drew & Napier Llc
Solicitors for the Petitioner

(a) All creditors of the above named company should file their
proof of debt with the Liquidator who will be administering all
affairs of the company.

(b) All debts due to the above named company should be forwarded
to the Liquidator.

This Singapore Government Gazette notice is dated October 1,
2004.


INFORMATICS HOLDINGS: Shareholder's Interest Changes
----------------------------------------------------
Informatics Holdings Ltd. released a notice on September 4 at
the Singapore Stock Exchange pertaining to the change in the
Percentage Level of Chip Lian Private Limited's interest.

Part I

(1) Date of notice to issuer: October 04, 2004
  
(2) Name of Substantial Shareholder: Chip Lian 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 interest: October 04, 2004
  
(2) The change in the percentage level: From 6.63% to 13.71%
  
(3) Circumstance(s) giving rise to the interest or change in
interest: Others
Please specify details: Subscription of Rights Share
representing :

(i) Chip Lian Investments Pte Ltd entitlement under the right
issue

(ii) Entitlements renounced by Dr Wong Tai and Mr. Ong Boon
Kheng

"CLI" is a wholly-owned subsidiary of Chip Lian. By virtue of
Section 7 of the Companies Act (Chapter 50), Chip Lian is deemed
to be interested in the shares of the company by CLI.

(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 percentage level is the result of the transaction
described above.

Part IV

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

                                             Direct      Deemed
No. of shares held before change:        26,009,000
% of issued share capital:                     6.63
   
No. of shares held after change:         53,742,314
% of issued share capital:                    13.71

The above percentages are based on 392,000,000 issued shares as
at 4 October 2004 and rounded to 2 decimal places. Any
discrepancies in the percentage level and the totals thereof are
due to rounding.

Submitted by:
Raymond Quek Hiong How
Company Secretary


INFORMATICS HOLDINGS: Reveals Change in Shareholder's Interest
--------------------------------------------------------------
Informatics Holdings Ltd. released a notice on September 4 at
the Singapore Stock Exchange pertaining to the change in the
Percentage Level of Oei Hong Leong's interest.

Part I

(1) Date of notice to issuer: October 04, 2004
  
(2) Name of Substantial Shareholder: Oei Hong Leong  

(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: October 04, 2004
  
(2) The change in the percentage level: From 6.63% to 13.71%
  
(3) Circumstance(s) giving rise to the interest or change in
interest: Others

Please specify details: Subscription of Rights Share
representing:

(i) Chip Lian Investments Pte Ltd entitlements under the rights
issue

(ii) Entitlements renounced by Dr. Wong Tai and Mr. Ong Boon
Kheng

OHL owns more than 50% of the issued share capital of Chip Lian
Private Limited, which in turn holds 100% of the issued share
capital of CLI. By virtue of Section 7 of the Companies Act
(Chapter 50, OHL is deemed to be interested in the shares of the
company held by CLI

(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 percentage level is the result of the transaction
described above.

Part IV

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

                                            Direct     Deemed
No. of shares held before change:       26,009,000
% of issued share capital:                    6.63
   
No. of shares held after change:        53,742,314
% of issued share capital:                   13.71


The above percentages are based on 392,000,000 issued shares as
at 4 October 2004 and rounded to 2 decimal places. Any
discrepancies in the percentage level and the totals thereof are
due to rounding.

Submitted by:
Raymond Quek Hiong How
Company Secretary


PANPAC MEDIA: Declares Change in Shareholder's Interest
-------------------------------------------------------
Panpac Media Group Limited released a notice on September 5 at
the Singapore Stock Exchange pertaining to the change in the
Percentage Level of Legg Mason Asset Management (Asia) Pte Ltd's
interest.

Part I

(1) Date of notice to issuer: October 05, 2004
  
(2) Name of Substantial Shareholder: Legg Mason Asset Management
(Asia) Pte Ltd

(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: October 04, 2004
  
(2) The change in the percentage level: From 8.80% to 8.98%
  
(3) Circumstance(s) giving rise to the interest or change in
interest: Open market purchase

(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 percentage level is the result of a purchase of
848,000 shares on 4 October 2004.

Part IV

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

                                             Direct     Deemed
No. of shares held before change:        41,045,000
% of issued share capital:                      8.8
   
No. of shares held after change:         41,893,000
% of issued share capital:                     8.98

Note:

(1) The 41,045,000 shares held before the change refers to as
follows:

(a) 8,500,000 shares held by UOB Nominees Pte Ltd;
(b) 1,170,000 shares held by DBS Nominees Pte Ltd;
(c) 2,291,000 shares held by OCBC Nominees Pte Ltd;
(d) 21,268,000 shares held by HSBC Nominees Pte Ltd; and
(e) 7,816,000 shares held by Citibank Nominees Pte Ltd.

(2) The 41,893,000 shares held after the change refers to as
follows:

(a) 8,500,000 shares by UOB Nominees Pte Ltd;
(b) 1,170,000 shares by DBS Nominess Pte Ltd;
(c) 2,438,000 Shares held by OCBC Nominees Pte Ltd;
(d) 21,895,000 shares held by HSBC Nominees Pte Ltd; and
(e) 7,890,000 shares held by Citibank Nominees Pte Ltd.

(3) Percentage shareholding is calculated based on 466,614,031
shares in issue as at 4 October 2004.

Submitted by:
Ricky Ang Gee Hing
Group MD & CEO


PANPAC MEDIA: Posts Change in Shareholders Interest
---------------------------------------------------
Panpac Media Group Limited released a notice on September 4 at
the Singapore Stock Exchange pertaining to the change in the
Percentage Level of Legg Mason Asset Management (Asia) Pte Ltd's
interest.

Part I

(1) Date of notice to issuer: October 04, 2004
  
(2) Name of Substantial Shareholder: Legg Mason Asset Management
(Asia) Pte Ltd

(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: October 01, 2004
  
(2) The change in the percentage level: From 7.97% to 8.80%
  
(3) Circumstance(s) giving rise to the interest or change in
interest: Open market purchase

(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 percentage level is the result of a purchase of
3,865,000 shares on 1 October 2004.

Part IV

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

                                            Direct     Deemed
No. of shares held before change:       37,180,000
% of issued share capital:                    7.97
-   
No. of shares held after change:        41,045,000
% of issued share capital:                     8.8


Notes:
(1) The 37,180,000 shares held before the change refer to as
follows:

(a) 8,500,000 shares held by UOB Nominees Pte Ltd
(b) 1,170,000 shares held by DBS Nominees Pte Ltd
(c) 1,620,000 shares held by OCBC Nominees Pte Ltd
(d) 18,413,000 shares held by HSBC Nominees Pte Ltd
(e) 7,477,000 shares held by Citibank Nominees Pte Ltd

(2) The 41,045,000 shares held after the change refers to as
follows:

(a) 8,500,000 shares held by UOB Nominees Pte Ltd
(b) 1,170,000 shares held by DBS Nominees Pte Ltd
(c) 2,291,000 shares held by OCBC Nominees Pte Ltd
(d) 21,268,000 shares held by HSBC Nominees Pte Ltd
(e) 7,816,000 shares held by Citibank Nominees Pte Ltd

(3) Percentage shareholding is calculated based on 466,614,031
shares in issue as at 1 October 2004.

Submitted by:
Ricky Ang Gee Hing
Group MD & CEO


OSCELSING PRIVATE: Creditors Meeting Scheduled on October 19
------------------------------------------------------------
Notice is hereby given that a meeting of the creditors of
Oscelsing Private Limited will be held at 8 Cross Street, #17-00
PWC Building, Singapore 048424 on the 19th day of October 2004
at 10.00 o'clock (a.m.).

Agenda:
(1) To lay before the meeting a report of the liquidators
showing how the winding up was conducted.

(2) To approve the remuneration of the liquidators and
disbursements.

(3) To consider waiving claim against related company to
facilitate early finalization of liquidation.

(4) Any other matters.

To entitle one to vote thereat your proof, if not already
lodged, must be lodged with the undersigned not later than 12.00
o'clock (noon) on the 15th day of October 2004.

Proxies to be used at the meeting must be lodged with the
undersigned not later than 12.00 o'clock (noon) on the 15th day
of October 2004.

Dated this 1st day of October 2004.

Address: c/o PricewaterhouseCoopers
8 Cross Street
#17-00 PWC Building
Singapore 048424
Ramasamy Subramaniam Iyer
Liquidator

Oscelsing Private Limited
(The statement of company's affairs has not been lodged)

This Singapore Government Gazette notice is dated October 1,
2004.


SOURCE ONE: Court Issues Winding Up Notice
------------------------------------------
In the Matter of Source One Opto-Acoustics Pte Ltd, a Winding Up
Order was made on the 24th day of September 2004.

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

Drew & Napier Llc
Solicitors for the Petitioner

(a) All creditors of the above named company should file their
proof of debt with the Liquidator who will be administering all
affairs of the company.

(b) All debts due to the above named company should be forwarded
to the Liquidator.

This Singapore Government Gazette notice is dated October 1,
2004.


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


KRUNG THAI: New President Could be Named This Week
--------------------------------------------------
The deputy governor of the central bank said the question on who
will become Krung Thai Bank's (KTB) next president maybe
answered later this week, Bangkok Post reported.

According to Tarisa Watanagase, Bank of Thailand Governor,
choosing KTB's next president has been long overdue.  The
deadline was supposed to be last September 30.

"By this, I mean that all parties involved would have the same
stance over the issue," Mr. Tarisa said.

KTB board's approval on the reappointment of Viroj Nualkhair as
President was opposed by the central bank saying Mr. Viroj
should take responsibility for lending irregularities that led
to a rise of THB46 billion in the bank's bad loans.

CONTACT:

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

NATURAL PARK: Unveils Resolution of Directors Meeting
-----------------------------------------------------
Natural Park Public Company Limited held the Board of Directors
Meeting No. 20/2004 on 5 October 2004 at 3:00 p.m.  The Company
informed the Stock Exchange of Thailand the resolutions of the
Meeting.

Item 1    

The Meeting unanimously resolved to certify the Minutes of the
Board of Directors Meeting No. 19/2004.

Item 2    

The Meeting unanimously resolved to request a shareholders
meeting to consider and confirm the implementation of the
shareholding and management restructuring plan (Restructuring
Plan) in case that there is a sale of 625,000 ordinary shares of
Pacific Avant Holding Company Limited (PAH) held by Pacific
Meridian Resort Company Limited (PMR) as a subsidiary of Pacific
Assets Public Company Limited, representing 50 percent of the
registered capital of PAH to purchasers proposed by Avant Resort
Limited Group under the Shareholders Agreement Re: Pacific Avant
Holding, totaling Baht 1,620,000,000.  

Item 3    

The Meeting unanimously resolved to appoint DS Prudential
Management Company Limited as a financial advisor to provide
additional opinions regarding the impact on the sale of ordinary
shares of PAH under the Restructuring Plan.

Item 4    

The Meeting unanimously resolved to consider and approve the
details of the Convertible Debentures in accordance with the
resolution of the Extraordinary General Meeting of the
Shareholders No. 1/2004 with the material features including the
issuance amount of 350 units with the face value of US$100,000
in the total amount of US$35,000,000.

The coupon rate is 4.0 percent per annum payable on semi-annual
basis with the tenor 5 Years from the issue date.  Collaterals
of the Convertible Debentures are (a) Conditional assignment of
leasehold right of land and Office Building (b) Conditional
assignment of sub-lease agreement of space in Office Building
(c) amend, change or perform any acts on insurance policy of
leasehold rights of Office Building to add the bondholders
representative as the co-insured and sole beneficiary.

Item 5    

The Meeting unanimously resolved to schedule the date of meeting
and summoning of the Extraordinary General Meeting of
Shareholders No. 2/2004 on 8 November 2004 at 9:00 a.m., whereas
the location will be informed in the Invitation Letter , to
consider the following agenda:

Item 1  

To consider and certify the Minutes of the Extraordinary General
Meeting of Shareholders No. 1/2004.

Item 2  

To consider and confirm the implementation of the shareholding
and management restructuring plan of the Company approved by the
Extraordinary Shareholders Meeting No. 1/2004 on 14 September
2004 in case that there is a sale of 625,000 ordinary shares of
Pacific Avant Holding Company Limited held by Pacific Meridian
Resort Company Limited as a subsidiary of Pacific Assets Public
Company Limited totaling THB1,620,000,000

Item 3  

Other matters (if any)

Item 6    

The Meeting unanimously resolved to close the register to
suspend the share transfer of the Company and to determine the
right to participate in the Extraordinary Shareholders Meeting
from 20 October 2004 at noon until the Extraordinary
Shareholders Meeting is finished.

Please be informed accordingly.

Sincerely yours,
Natural Park Public Company Limited
(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   

      
TONGKAH HARBOUR: Details Shares Sale Result
-------------------------------------------
Tongkah Harbour Public Company Limited disclosed to the Stock
Exchange of Thailand a report on the result of its shares sale
dated September 30, 2004.

(1) Details of the Share Allocation

Type of Shares: Common Share
Amount of Shares Offered: 50,714,300 shares
Offered to:

(1) Elite Fund / PYN Fund Management
(2) Mr. Henry Ka Leung Lum

Price per share: THB2.50

Subscription and payment period: 28 September 2004

(2) Result of the Share Sale

x Sold all shares on offer     
  Partly sold with- _shares remaining.  

(3) Result of Share Sale

           Thai Investor            Foreign Investor
       Juristic  Individual    Juristic  Individual      Total
             Persons                Persons

No. of
Shareholders           1          1                        2    

Amount of
Shares
Subscribed      40,000,000     10,714,300             50,714,300

Percentage of
The Shares
on Offer          78.87            21.13                  100         


(4) Funds Raised from Share Sale

Amount: THB126,785,750  
Less:  Expenses
Commission: Baht
Legal Fee:  Baht
Advertisement and postage Fee: THB9,000
Net Funds Raised: THB126,776,750

Note:   

(1) The price of THB2.50 per share is approximately 6 percent
below the average closing price during 11 June 10 September 2004
(the average closing price is THB2.66) in accordance with the
resolution of the Annual General Meeting of Shareholders No.
10/2004 on 26 April 2004.

The company certifies that all information in this notice is
true and correct.

Authorized Director
(Mr. Ronald Ng Wai Choi)
Director

Authorized Director
(Mr. Somsak Ruamkid)
Director

CONTACT:

Tongkah Harbour Public Company Limited   
Muang Thai Phatra Office Tower 1,
Floor 7, 252/11 Rachadapisek Road, Huai Khwang Bangkok    
Telephone: 0-2695-4912-28   
Fax: 0-2695-4901   


                            *********


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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Copyright 2004.  All rights reserved.  ISSN: 1520-9482.

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