TCRAP_Public/041011.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                     A S I A   P A C I F I C

             Monday, October 11, 2004, Vol. 7, No. 201

                            Headlines

A U S T R A L I A

BREHAUT HOLDINGS: Members Final Meeting Slated for October 19
CLIFTON PARTNERS: Court Sends Former Director To Jail
CORROCEAN PTY: Voluntary Winding Up Resolved During Meeting
CORROCEAN SERVICES: Winds Up Voluntarily
JAMES HARDIE: NSW Premier Seeks U.S. Investigation

JAMES HARDIE: Gave Early Warning of Move
KINTYRE PTY: Affairs Fully Wound Up
KWIK COURT: To Face Voluntary Winding Up Process
LE-SHANE PROPERTIES: Schedules General Meeting on October 18
MERDEN PTY: Completes Winding Up Process

NESDOVE PTY: Sets October 14 as Date of Members Meeting
NIX ELECTRICAL: Final Meeting Slated for October 18
PARADOX JOINERY: To Hold Final Meeting on October 15
PHOENIX TECHNOLOGY: ASIC Bans Director From Management Roles
PMP INTL: Sets Final Meeting Slated on October 19

PRIMELIFE CORPORATION: Undertakes AU$80-Mln Recapitalization
QANTAS AIRWAYS: Labor Says It Is Open To Discussions
RAYEVE PTY: Appoints Joint and Several Liquidators
SONS OF GWALIA: IGL Readies AU$80 Mln to Bid for Gold Assets
TARRAWARRA COLLEGE: Appoints Samuel Richwol as Liquidator

TOKAI AUSTRALIA: Members Resolve To Voluntarily Wind Up
WESTLAND FINANCIAL: Final Meeting Set October 19


C H I N A  &  H O N G  K O N G

CHINA CONSTRUCTION: Woos Financial Power Players
FIVE CONTINENTS: Court To Hear Winding Up Petition
LAW WONG: To Appoint Liquidators
WILMORE MANUFACTURING: Winding Up Order Made
Y.K. ENGINEERING: Receives Winding Up Notice


I N D O N E S I A

BANK PERMATA: Books IDR494.56-Bln Nine-month Net Profit
BANK PERMATA: Singapore UOB Skips Bid for 51% Stake
BANK PERMATA: CAHB-led Consortium Submits Final Bid for Shares
GARUDA INDONESIA: Yet To Implement Fare Hike
GARUDA INDONESIA: Judged "Best Of The Best" In Airline Services

* Indebted Countries Urge World Bank to Scrap Commitment Fee


J A P A N

ALL NIPPON: Awards Contract To MHI for Boeing 777 Maintenance
DAIEI INCORPORATED: Government Sets Deadline for Aid Request
JAPAN AIRLINES: "Class J" Seat Wins Top Japan Design Award
JAPAN AIRLINES: Boeing To Upgrade Three 747 Freighters
KOBE STEEL: Introduces ELCH2S Steel Bar

MITSUBISHI FUSO: Ministry Works To Ban Buses From Streets
NARUI NORIN: Enters Bankruptcy
NISSAN MOTOR: Acquires Stadium Yokohama Naming Rights
UFJ HOLDINGS: Prosecutors Launch Probe
UFJ HOLDINGS: Minister Ito Refuses to Comment on Search


K O R E A

DAEWOO HEAVY: Delays Selection of Preferred Bidders
HANARO TELECOM: Number of Subscribers Surge in September
HYNIX SEMICONDUCTOR: S&P Upgrades Rating to 'B-'


M A L A Y S I A

ARTWRIGHT HOLDINGS: Issues Restructuring Scheme Update
FABER GROUP: Granted Listing of 6,000,000 New Ordinary Shares
GULA PERAK: Reveals Closed Period Dealings By Director
LAFARGE MALAYAN: Unit Enters Voluntary Liquidation
MBF HOLDING: Issues Litigation Update

MMC CORPORATION: Unit Enters Arbitration Proceedings
MMC CORPORATION: Unit Dissolved on October 7
MTD CAPITAL: Releases Amended Shares Buy Back
NAIM INDAH: Issues Additional Listing Of Shares
PANGLOBAL BERHAD: Unveils September 2004 Production Figures

PAN MALAYSIA: Issues Private Placement Notice
TALAM CORPORATION: Lists Additional 186,900 Shares
TANCO HOLDINGS: Unit Enters Share Sale Agreement
* Civil Litigation Conference Set October 13


P H I L I P P I N E S

HOUSE OF INVESTMENT: Releases 1H04 Amended Quarterly Report
NATIONAL STEEL: Ships $3.9-M Metric Tons of Steel to China
NEGROS NAVIGATION: Forecasts PhP400M Losses This Year
NEGROS NAVIGATION: Court Orders CEO Replacement
NEGROS NAVIGATION: Creditors Name 3 Board Nominees

UNIWIDE HOLDINGS: Clarifies "SEC Defers Rehab Proposal" Report


S I N G A P O R E

ACT RENOVATION: Winding Up Hearing Set October 15
AML CONSTRUCTION: Court to Hear Winding Up Petition
DUBLINK MARKETING: Winding Up Hearing Slated for October 15
EXCEL GOLF: Enters Winding Up Proceedings
INFORMATICS HOLDINGS: Posts Changes in Shareholder's Interest

INFORMATICS HOLDINGS: Shareholder's Interest Changes
INFORMATICS HOLDINGS: Releases Change in Shareholder's Interest
NAIKUL INVESTMENTS: Court Issues Winding Up Notice
WEE POH: Clarifies Business Times Article
WEE POH: Reveals Auditor's Report


T H A I L A N D

CAPETRONIC INTERNATIONAL: Details Exercise of Warrants
JASMINE INTERNATIONAL: Disposes of TT&T Shares
JASMINE INTERNATIONAL: SET Grants Listing of Securities
KRUNG THAI: No Second Term for Incumbent President

     -  -  -  -  -  -  -  -

=================
A U S T R A L I A
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BREHAUT HOLDINGS: Members Final Meeting Slated for October 19
-------------------------------------------------------------
Notice is given that a Final Meeting of the members of Brehaut
Holdings Pty Ltd (In Liquidation) will be held at Level 6, 161
Collins Street, Melbourne on 19 October 2004 at 10:00 a.m.

The purpose of the meeting is to receive the Liquidator's
account showing how the winding up has been conducted and the
property of the company has been disposed of, and to receive any
explanation of the account.

Accounts have been compiled in accordance with Section 539(1) of
the Corporations Act and are available for inspection at Pitcher
Partners, Level 6, 161 Collins Street, Melbourne during normal
business hours.

Dated this 31st day of August 2004

T.A. Jonas
Liquidator
Pitcher Partners
Level 6, 161 Collins Street,
Melbourne Vic 3000
Telephone: 03 9289 9814


CLIFTON PARTNERS: Court Sends Former Director To Jail
-----------------------------------------------------
Mr. William Frederick Harmer, of Mt. Claremont in Western
Australia, has been sentenced to 2 years in prison after being
found guilty in the Perth District Court of making materially
misleading statements in a prospectus following an investigation
by the Australian Securities and Investments Commission (ASIC).

Mr. Harmer must serve a minimum of 12 months and upon release
enter into a recognizance of AU$500 to be of good behavior for
12 months.

Mr. Harmer was a director, senior executive, finance broker and
an authorized representative of failed finance broking firm
Clifton Partners Finance Pty Ltd (Clifton Partners), which later
became known as Knightsbridge Finance Pty Ltd (Knightsbridge
Finance).

Mr. Harmer issued a prospectus between 1 February and 3 March
2000 that sought to raise money to enable Clifton Partners to
finalize a total loan facility to Onslow Trading Company Pty Ltd
(Onslow Trading) of AU$2,520,000.

At that time, Onslow Trading was constructing the Blackrock
Caravan Park in South Hedland, Western Australia.

ASIC alleged the prospectus contained two statements which were
materially misleading:

(1) at 31 January 2000, AU$2.2 million had been raised and that
a further AU$320,000, proposed to be raised under the
prospectus, would enable the borrowers to complete the project;
and

(2) work was nearing the final stages and the caravan park
should be open by the end of February 2000.

Contrary to these statements, construction of the caravan park
was in fact not nearing the final stages. There was also
evidence that approximately AU$1,600,000 was required at the
time the prospectus was circulated to clients of Clifton
Partners by Mr. Harmer.

ASIC's Deputy Executive Director of Enforcement, Mr. Allen
Turton said the penalty imposed on Mr. Harmer sent a strong
message that ASIC nor the community would tolerate people who
mislead consumers.

'Company directors have a duty to ensure the information
provided in financial documents is true and correct', Mr. Turton
said.

'Today's outcome should act as a warning to other directors that
ASIC regards such breaches of the law very seriously and will
take strong action against those who flout their
responsibilities and adversely affect consumers', Mr. Turton
said.

The charges were prosecuted by the Commonwealth Director of
Public Prosecutions.

Background

Clifton Partners operated as a licensed finance broker from
February 1995 managing a mortgage lending business arranging
pooled mortgages. In December 1999 it regularized its mortgage
broking business to comply with the managed investments
provisions of the Corporations Act 2001. In so doing, Australian
Managed Funds Ltd (Australian Managed Funds) became the
responsible entity for a managed investment scheme then known as
the Clifton Partners Finance Mortgage Scheme.

On or about 31 May 2000, Knightsbridge Managed Funds Ltd
acquired all the shares in Australian Managed Funds, becoming
the new responsible entity, and Knightsbridge Finance acquired
all the shares in Clifton Partners. Subsequently, the Clifton
Partners Finance Mortgage Scheme changed its name to the
Knightsbridge Finance Mortgage Scheme (the Scheme).

The Scheme was placed into administration following action taken
by ASIC in December 2000. At that time, the total value of the
mortgage schemes that were placed into administration exceeded
AU$100 million.


CORROCEAN PTY: Voluntary Winding Up Resolved During Meeting
-----------------------------------------------------------
Notice is hereby given that at a General Meeting of the members
of Corrocean Pty Ltd (In Liquidation) held on 1 September 2004
it was resolved that the companies be wound up voluntarily and
that for such purposes Samuel Richwol be appointed Liquidator.

Dated this 1st day of September 2004

Samuel Richwol
Liquidator
O'Keeffe Walton Richwol
Suite 3, 431 Burke Road,
Glen Iris Victoria
Telephone: (03) 9822 9823


CORROCEAN SERVICES: Winds Up Voluntarily
----------------------------------------
Notice is hereby given that at a General Meeting of the members
of Corrocean Services Pty Ltd (In Liquidation) held on 1
September 2004 it was resolved that the companies be wound up
voluntarily and that for such purposes Samuel Richwol be
appointed Liquidator.

Dated this 1st day of September 2004

Samuel Richwol
Liquidator
O'Keeffe Walton Richwol
Suite 3, 431 Burke Road,
Glen Iris Victoria
Telephone: (03) 9822 9823


JAMES HARDIE: NSW Premier Seeks U.S. Investigation
--------------------------------------------------
NSW Premier Bob Carr sent a letter to the U.S. Securities and
Exchange Commission (SEC) urging it to review whether asbestos
products manufacturer James Hardie Industries has violated any
U.S. laws, The Advertiser says.

In addition, Mr. Carr also enclosed a copy of Commissioner David
Jackson's report on James Hardie's liabilities.

"Given that James Hardie generates more than 80 per cent of its
revenue from the U.S. market it's imperative that U.S.
authorities are made aware of the damning findings of the
Jackson report," Mr. Carr declared.

The Jackson report, which revealed James Hardie's fund for
asbestos victims was short by around AU$2 billion, also
recommended that a number of criminal charges be filed against
the firm and its directors for violating Australia's corporate
legislation.

Mr. Carr is optimistic the information he provided would prompt
the U.S. regulator to take legal action against the building
supplier, which has been listed on the New York Stock Exchange
since 2001.

"I have asked the SEC to review the Jackson report to ensure
that all US regulatory requirements have been met by James
Hardie," he said.

"I trust the US commission will be monitoring the conduct of
James Hardie to ensure it complies with US laws."

CONTACT:

For corporate and media enquiries only, please contact:

James Hardie Industries
Web site: http://www.jameshardie.com.au/

Greg Baxter
Executive Vice President
Level 3, 22 Pitt Street
Sydney NSW 2000
Telephone: (02) 8274 5305
Fax: (02) 8274 5218
Mobile: 0419 461 368

Steve Ashe
Vice President Investor Relations
Telephone: (02) 8274 5246
Fax: (02) 8274 5218
Mobile: 0408 164 011

Julie Sheather
Vice President Public Affairs
Telephone: (02) 8274 5206
Fax: (02) 8274 5218
Mobile: 0409 514 643

All other inquires to CustomerLink Service Centre on 13 1103.


JAMES HARDIE: Gave Early Warning of Move
-----------------------------------------
Embattled James Hardie Industries gave out separate advanced
briefings to staff members of the Prime Minister John Howard and
Treasurer Peter Costello about plans to relocate to the
Netherlands, relates the Sydney Morning Herald.

A spokesman for Mr. Costello confirmed the briefings were
conducted at the company's request "to hear a presentation on
the tax consequences of the company's relocation to the
Netherlands in July 2001".

However, the spokesman said neither Mr. Howard nor Mr. Costello
had met Hardie's representatives. There was also no discussion
of the firm's asbestos liability.

A spokesman for the shadow treasurer, Simon Crean, said his
office had no record of the said briefings.

James Hardie, which gained approval by the NSW Supreme Court in
October 2001 for the relocation, had assured the court that no
asbestos claimant would be disadvantaged by the move.

Right after Hardie's transfer, Mr. Costello amended the tax law,
which was speculated at that time as an attempt to keep the
asbestos products maker and its tax payments in Australia.

A recent inquiry into a possible AU$2 billion shortfall in
Hardie's funds for asbestos victims had examined the move's
impact on victims' compensation.


KINTYRE PTY: Affairs Fully Wound Up
-----------------------------------
Notice is given that the affairs of Kintyre Pty Limited (In
Liquidation) are now fully wound up and that in accordance with
Section 509 of the Corporations Act, a general meeting of the
company will be held at 35 Robertson Road on 15 October 2004 at
2:00 p.m. for the purpose of laying before the meeting an
account showing how the liquidation has been conducted and the
property of the company has been disposed of, and of giving any
explanation of that account.

John Sinclair Leslie Hill
Liquidator


KWIK COURT: To Face Voluntary Winding Up Process
------------------------------------------------
Notice is hereby given that at a General Meeting of the members
of Kwik Court Pty Ltd (In Liquidation) held on 1 September 2004,
it was resolved that the companies be wound up voluntarily and
that for such purposes Samuel Richwol be appointed Liquidator.

Dated this 1st day of September 2004

Samuel Richwol
Liquidator
O'Keeffe Walton Richwol
Suite 3, 431 Burke Road,
Glen Iris Victoria
Telephone: (03) 9822 9823


LE-SHANE PROPERTIES: Schedules General Meeting on October 18
------------------------------------------------------------
Notice is hereby given pursuant to Section 509 of the
Corporations Act 2001 that a Final General Meeting of
Shareholders of Le-Shane Properties Pty Limited (In Liquidation)
will be held at the offices of Borough Mazars, at Level 6, 77
Castlereagh Street, Sydney on Monday, the 18th of October, 2004
at 10:30 a.m. for the purpose of laying before it a Final
Account showing how the winding up has been conducted and the
property of the company disposed of, and of hearing any
explanations that may be given by the liquidator and to
determine the manner in which the books, accounts and documents
of the company and of the liquidator thereof shall be disposed
of.

Dated this 7th day of September 2004

J.D. Scarfe
Liquidator


MERDEN PTY: Completes Winding Up Process
----------------------------------------
Notice is given that the affairs of Merden Pty Limited (In
Liquidation) are now fully wound up and that in accordance with
section 509 of the Corporations Act, a general meeting of the
company will be held at 36 Dalkeith Avenue, Wagga Wagga on 20
October 2004 at 3:00 p.m. for the purpose of laying before the
meeting an account showing how the liquidation has been
conducted and the property of the company has been disposed of,
and of giving any explanation of that account.

Damian Scroope
Liquidator


NESDOVE PTY: Sets October 14 as Date of Members Meeting
-------------------------------------------------------
Notice is given that a meeting of the members of Nesdove Pty
Limited (In Liquidation) will be held at Level 8, 201 Sussex
Street, Sydney, NSW, 1171 on 14 October 2004 at 10:00 a.m.

AGENDA

(i) To lay the Liquidator's account before the members showing
how the winding up has been conducted and the property of the
company has been disposed of, and to give any explanations as
required;

(ii) Any other business.

Dated this 6th day of September 2004

David Clement Pratt
Timothy James Cuming
Liquidator
PricewaterhouseCoopers
Level 8, 201 Sussex Street,
Sydney NSW 1171


NIX ELECTRICAL: Final Meeting Slated for October 18
---------------------------------------------------
Notice is given that the final meeting of members and creditors
of Nix Electrical (NSW) Pty Limited (In Liquidation) will be
held at Level 1, 32 Martin Place, Sydney, NSW, on Monday 18
October 2004 at 10:00 a.m.

AGENDA

(1) To consider the account by the liquidators on the conduct of
the winding up and the disposal of the company's property.

Proxies to be used at the meeting should be lodged prior to the
commencement of the meeting.

Dated this 7th day of September 2004

Nick Malanos
Joint Liquidator
Nix Electrical (NSW) Pty Limited (In Liquidation)


PARADOX JOINERY: To Hold Final Meeting on October 15
----------------------------------------------------
Notice is hereby given pursuant to Section 509 of the
Corporations Act that a final meeting of members and creditors
of Paradox Joinery Pty Limited (In Liquidation) will be held at
the offices of Jirsch Sutherland, Level 2, 84 Pitt Street,
Sydney on 15 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, the properties of the company
disposed of, and of hearing any explanations that may be given
by the Liquidator.

Dated this 30th day of August 2004

Danny Vrkic
Liquidator


PHOENIX TECHNOLOGY: ASIC Bans Director From Management Roles
------------------------------------------------------------
The Australian Securities and Investments Commission (ASIC) has
banned Mr. Ivan Barry McNeil, formerly of Burleigh Heads in
Queensland, from managing corporations for two years. Mr. McNeil
is currently living in New Zealand.

ASIC imposed the ban following an investigation that found Mr.
McNeil was involved with three companies that were reported as
having failed to pay creditors after they were placed into
liquidation.

Mr. McNeil was a director of Phoenix Technology Corporation
Limited (Phoenix Technology), The Coolum Beach Club Hotel Pty
Limited and The Coolum Beach Club Pty Limited (Coolum Beach
companies), all of which failed to return a dividend to
unsecured creditors when they went into liquidation between 2002
and 2003.

Phoenix Technology operated as a research and development
company and was listed on the Australian Stock Exchange in 1998.
The company was wound up in 2002 following its failure to meet
the requirements of a court order, obtained by ASIC. The order
required Phoenix Technology to set aside share issues and repay
shareholders.

The Coolum Beach companies managed the accommodation and
restaurant facilities of a holiday resort at Marcoola in
Queensland, which traded as 'Discovery Beach Resort'.

Under the Corporations Act 2001, ASIC is able to ban company
directors if they are the director of two or more failed
companies that are wound up and the liquidator reports to ASIC
that they have failed to pay their creditors.

Mr. McNeil has the right to lodge an application for a review of
ASIC's decision with the Administrative Appeals Tribunal.


PMP INTL: Sets Final Meeting Slated on October 19
-------------------------------------------------
Notice is given pursuant to Section 509(2) of the Corporations
Act 2001 that a Final Meeting of the Members and Creditors of
PMP Intl Pty Limited (In Liquidation) will be held at Ngan & Co,
Level 5, 49 Market Street, Sydney NSW 2000 on Tuesday, 19
October 2004 at 10:00 a.m.

AGENDA

(1) To receive an account made up by the Liquidator showing how
the winding up has been conducted, the property of the Company
has been disposed of and to receive any explanation required
thereof.

(2) To consider any other business brought before the meeting.

Dated this 6th day of September 2004

P. Ngan
Liquidator


PRIMELIFE CORPORATION: Undertakes AU$80-Mln Recapitalization
------------------------------------------------------------
Beleaguered aged care provider Primelife Corporation is
considering extending its brand outside Victoria and become a
national market leader.

On Friday, the company announced on a press release that it has
recently finalized details for its planned AU$80 million
recapitalization that includes a AU$50 million renounceable
rights issue, a AU$25 million non-renounceable notes issue and a
AU$5 million placement to the Multiplex Group.

A copy of an interview with Primelife CEO Jim Hazel about the
firm's recapitalization is available for viewing at
http://bankrupt.com/misc/PRIMELIFECORPORATION100804.pdf.

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: Labor Says It Is Open To Discussions
----------------------------------------------------
The Australian Labor Party (Labor) has indicated its interest in
holding talks with Qantas Airways regarding foreign ownership
restrictions, says The Australian.

Labor has hinted a Latham government could overhaul regulations
restricting foreign ownership in Qantas if it helped the
Australian carrier to preserve local jobs.

Labor transport spokesman Martin Ferguson has confirmed the body
is prepared to have "realistic discussions" with Qantas to
ensure Australian jobs are protected.

Qantas is likely to be a strong supporter of any change in the
current administration, as the airline has fought for years to
end the restrictions that limit foreign ownership at 49 percent.

Mr. Ferguson pointed to recent developments in the aviation
sector as being critical to Qantas' future.

Market watchers have forecasted Singapore Airlines will seek an
alliance with Qantas after it sold its stake in Air New Zealand
recently. British Airways, on the other hand, disposed of its
AU$1.1 billion stake in Qantas.

"The position of Qantas is in a state of flux. We will have to
wait and see where the cards fall," Mr. Ferguson said.

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


RAYEVE PTY: Appoints Joint and Several Liquidators
--------------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of the sole member of Rayeve Pty Ltd (In Liquidation) held on
the 31st day of August 2004, it was resolved that the company be
wound up voluntarily and at a meeting of creditors held on the
same day pursuant to Section 497, it was resolved that for such
purpose, Messrs Clyde Peter White and Philip Newman of HLB Mann
Judd, Chartered Accountants, Level 1, 160 Queen Street,
Melbourne be appointed joint and several Liquidators.

Dated this 1st day of September 2004

P. Newman
Liquidator
HLB Mann Judd
Chartered Accountants
Level 1, 160 Queen Street,
Melbourne 3000


SONS OF GWALIA: IGL Readies AU$80 Mln to Bid for Gold Assets
------------------------------------------------------------
Gold producer International Goldfields Limited (IGL) has
expressed interest in the gold assets of collapsed miner Sons of
Gwalia, reports The Age.

IGL said has set up an AU$80 million cash facility to bid for
Gwalia's gold reserves.

The firm's Chairman Tony Sage said the firm aims to acquire the
Tarmoola treatment plant near Leonora and other operations.

IGL believes Sons of Gwalia has a lot of good underground
assets. It said the reason for Gwalia's collapse was "not
because they weren't producing gold but because they weren't
producing gold enough at the right price because of their
hedging".

Mr. Sage did not see many other small Australian miners able to
match IGL's offer, except for Croesus and Troy Resources NL.

Meanwhile, the sales mechanism for the Sons of Gwalia facilities
remains unclear, though the Company's administrators have
indicated they will announce the process next month.

CONTACT:

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


TARRAWARRA COLLEGE: Appoints Samuel Richwol as Liquidator
---------------------------------------------------------
Notice is hereby given that at a General Meeting of the members
of Tarrawarra College Pty Ltd (In Liquidation) held on 1
September 2004, it was resolved that the companies be wound up
voluntarily and that for such purposes Samuel Richwol be
appointed Liquidator.

Dated this 1st day of September 2004

Samuel Richwol
Liquidator
O'Keeffe Walton Richwol
Suite 3, 431 Burke Road,
Glen Iris Victoria
Telephone: (03) 9822 9823


TOKAI AUSTRALIA: Members Resolve To Voluntarily Wind Up
-------------------------------------------------------
At a general meeting of the members of Tokai Australia Finance
Pty Ltd (In Liquidation) held at Level 11, 135 King Street,
Sydney, 2000 on 2 September 2004 a special resolution that the
company be wound up voluntarily was passed.

David Clement Pratt
Timothy James Cuming
Liquidator
Level 8, 201 Sussex Street,
Sydney NSW 1171


WESTLAND FINANCIAL: Final Meeting Set October 19
------------------------------------------------
Notice is given that a final meeting of members of Westland
Financial Securities Pty Limited will be held at 44 O'Connell
Street, Parramatta on the 19th of October 2004 at 10:00 a.m.

The purpose of the meeting is to receive the Liquidator's
account showing how the winding up has been conducted and the
property of the company has been disposed of, and to receive any
explanation of the account.

Dated this 24th day of August 2004

J. Auciello
Liquidator
c/- Paul S Malouf
Chartered Accountant
Telephone: (02) 9890 2466


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CHINA CONSTRUCTION: Woos Financial Power Players
------------------------------------------------
China Construction Bank has wooed several of the world's largest
financial groups to invest in the lender ahead the US$5 billion-
US$10 billion international listing next year, according to the
Financial Times.

Some of the likely investors include international banks such as
Citigroup (C), JPMorgan Chase and UBS (UBS), as well as Japanese
and Singaporean banks and Temasek Holdings.

Between 5 percent and 20 percent of the bank's stake is expected
to be sold to one or more shareholders.

Pressure have been coming from the foreign front that they be
allowed to purchase a bigger share in order to have a say in the
bank's operation. It is expected that the steep price of share
may cause foreign banks to form consortiums.

CONTACT:

China Construction Bank
25 Finance St.
Beijing, 100032, China
Phone: +86-10-6759-7114
Fax: +86-10-6360-3194
Web site: http://www.ccb.com.cn


FIVE CONTINENTS: Court To Hear Winding Up Petition
--------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Five Continents Technology Trading Limited, whose registered
office is situated at Unit 7B, 34/F., Cable TV Tower (formerly
known as Wharf Cable Tower), 9 Hoi Shing Road, Tsuen Wan, N.T.,
Hong Kong by the High Court of Hong Kong Special Administrative
Region was on the 22nd day of September 2004 presented to the
said Court by Bank of China (Hong Kong) Limited whose registered
office is situated at 14th Floor, Bank of China Tower, 1 Garden
Road, Hong Kong.

The said Petition is directed to be heard before the Court at
9:30 am on the 3rd 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.

MESSRS. DEACONS
Solicitors for the Petitioner
5th Floor, Alexandra House
16-20 Chater Road
Central, Hong Kong

Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention to do so.  The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the above named not
later than six o'clock in the afternoon of the 2nd day of
November 2004.


LAW WONG: To Appoint Liquidators
--------------------------------
Take notice that pursuant to a direction given by Master Kwang
of the High Court, a hearing has been fixed on the 19th of
October 2004 at 12:30 p.m. at the High Court, High Court
Building, 38 Queensway, Hong Kong to consider the application
for the appointment of David John Kennedy and Stephen Briscoe as
Joint and Several Liquidators of Law Wong Kee Law's Construction
And Engineering Company Limited.

Copies of the Provisional Liquidators' reports of the First
Meetings of Creditors and Contributories can be obtained from
the Provisional Liquidators at the address below.

Dated this 8th day of October 2004.

Stephen Briscoe
Joint and Several Provisional Liquidators
Law Wong Kee Law's Construction and Engineering Company Limited

RSM Nelson Wheeler Corporate Advisory Services Limited
7/F Allied Kajima Building
138 Gloucester Road
Wanchai
Hong Kong
Tel:  (852) 2598 5123
Fax: (852) 2598 0060


WILMORE MANUFACTURING: Winding Up Order Made
--------------------------------------------
In the matter of Wilmore Manufacturing Limited, a winding up
order was issued.

Registered Office: Flat B, 9th Floor, Manning Ind
Bldg, 118 How Ming St, Kwun
Tong, Kln

Date of Order: 20 September 2004

Date of Presentation of Petition: 13 May 2004

Dated this 30th day of September 2004

E T O'CONNELL
Official Receiver


Y.K. ENGINEERING: Receives Winding Up Notice
--------------------------------------------
In the matter of Y.K. Engineering & Piling Limited, a winding up
notice was issued.

Registered office: M001 Of Room 1003, 10/F, Jupiter Tower, 9
Jupiter Street,
Fortress Hill, Hk

Date of Order: 20 September 2004

Date of Presentation of Petition: 8 June 2004

Dated this 30th day of September 2004

E T O'CONNELL
Official Receiver


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


BANK PERMATA: Books IDR494.56-Bln Nine-month Net Profit
-------------------------------------------------------
PT Bank Permata saw its nine-month net profit climb on year due
mostly to higher net interest income, Dow Jones relates.

The state-owned bank chalked up net earnings amounting to
IDR494.56 billion in the first nine months of the year, up from
the previous year's IDR218.82 billion. Net interest income also
rose 46 percent on year to IDR1.16 trillion from IDR795.27
billion last year, due to increase in lending, which amounted to
IDR4.08 trillion. Outstanding loans reached IDR13.27 trillion.

The bank's capital adequacy ratio increased from 10.1 percent to
12 percent on year, well above the mandatory 8 percent minimum
level set by the central bank. Its asset came at IDR31.54,
compared with IDR27.54 trillion previously.

The bank, which is set for privatization, didn't give any
comment on its performance.

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: Singapore UOB Skips Bid for 51% Stake
---------------------------------------------------
Singapore-based United Overseas Bank Limited (UOB) did not
submit a final bid for a majority shareholding in PT Bank
Permata, says Channel News Asia.

To the relief of rival bidders, UOB decided not to participate
in the tender for a 51-percent stake in Permata. It was still
unclear why UOB failed to make a bid. Officials from the bank
weren't available for comment.

Sources said the reason might be that UOB's management is pre-
occupied with recent acquisitions. UOB's management team is also
stretched with recent departures and busy with disposing the
bank's non-core assets.


BANK PERMATA: CAHB-led Consortium Submits Final Bid for Shares
--------------------------------------------------------------
A consortium led by Commerce Asset-Holding Bhd (CAHB) on
Thursday submitted a final bid to state Asset management Company
(PPA) for the proposed acquisition of a 51-percent stake in PT
Bank Permata, Asia Intelligence Wire reports.

An irrevocable stand-by letter of credit amounting to US$15
million for a continuous period of up to January 31, 2005 was
also enclosed.

The consortium, composed of CAHB, Bumiputra-Commerce Bank Bhd
(BCB) and the Employees Provident Fund Board, sealed an
agreement Wednesday to formalize the rights and obligations of
the members in relation to the proposed acquisition, the
management of Commerce Volantia Sdn Bhd, the special purpose
vehicle to be used for the proposed acquisition, and the rights
of the members to appoint representatives to the management of
Bank Permata.


GARUDA INDONESIA: Yet To Implement Fare Hike
--------------------------------------------
PT Garuda Indonesia has yet to raise its rates, although it is
incurring increasing operational costs resulting from rising
global oil prices, Antara reveals, citing the airline's
commercial director Bachrul Alam.

"We are trying hard to avoid the need to increase our rates and
hope the fuel price spiral does not continue," Mr. Bachrul told
reporters.

However, the national flag carrier will be forced to impose a
surcharge on every domestic flight if fuel prices continue to
skyrocket. It has already slapped a surcharge on international
flights to Australia, Japan and Europe.

The upward trend in fuel prices has adversely affected the
company's operational budget, as fuel accounted for 26 percent
to 30 percent of its operating expenses.

CONTACT:

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


GARUDA INDONESIA: Judged "Best Of The Best" In Airline Services
---------------------------------------------------------------
Garuda Indonesia announced on its web site that it has won an
award in the airline category of the 2004 Indonesian Customer
Satisfaction Award - ICSA 2004, an event organized by Frontier,
a marketing research institute in conjunction with SWA Magazine.

Successfully meeting customer satisfaction for the past five
years since 2000 until 2004, Garuda also emerged top in "The
Best of the Best" brand category.

Results from surveys conducted by Frontier and SWA between June
and July which involved 10,200 respondents in six big cities,
namely Jakarta, Bandung, Semarang, Surabaya, Medan and Makassar
showed Garuda being ahead of other nominees in the category.

The comprehensive and objective surveys brought out customers'
views that encompassed three parameters, namely quality
satisfaction, value satisfaction and perceived best. Based on
customer satisfaction ratings results, Garuda scored the highest
point of 32.2%, far ahead of other nominees who only scored in
the 6.3% - 22.1% range.

For Garuda Indonesia, achieving this award for the fifth
consecutive year only serves to strengthen the airline's
commitment to position the airline business in the service
industry and not merely as means of transporting people and
cargo from one destination to another with no thought for
service qualities.

In the face of the current competition among airlines, Garuda
Indonesia remains consistent in positioning itself as a full-
service airline. Among the various measures being carried out by
Garuda Indonesia to enhance service quality are improve OTP and
quality of connecting flights, enhance quality of pre, in and
post flight services, increase flight frequency and promote
efficient fleet planning according to growth in market demand.
Better service is also expected from a wider use of automation
and information technology in various aspects of service.

Garuda Indonesia also managed to seize two awards at the 2004
Indonesian Best Brand, an event organized by MARS, a marketing
research institute. In this event, the airline was voted "The
Best Corporate Brand in Transportation Industry" and "The Most
Valuable Brand in Airlines Service". Garuda had already
previously won "The Best Corporate Brand in Transportation
Industry award in 2002 and 2003".


* Indebted Countries Urge World Bank to Scrap Commitment Fee
------------------------------------------------------------
Indebted developing countries have urged the World Bank to drop
the commitment fees for unused loans committed in 2004, reports
The Jakarta Post, citing the Ministry of Finance.

The demand was raised during the International Monetary Fund-
World Bank annual meeting held last week in Washington.

The World Bank, which imposes a 0.5 percent commitment fee for
unused loans this year, is considering a 0.35 percent fee for
next year's loan commitments.

The borrowing nations, including Indonesia, stressed that the
commitment fees were heavy for them.

The World Bank is expected to hand down a decision regarding the
issue in June next year.


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


ALL NIPPON: Awards Contract To MHI for Boeing 777 Maintenance
-------------------------------------------------------------
Mitsubishi Heavy Industries, Ltd. (TSE: 7011; "MHI") has signed
a contract with All Nippon Airways Co., Ltd. (ANA) covering
maintenance and repair of low-pressure compressor modules used
in the aero-engines of its Boeing 777s.

The contract calls for maintenance and repair of compressor
modules of the PW4074, 4077 and 4090 engines manufactured by
Pratt & Whitney of the U.S. Until now maintenance of their low-
pressure compressor and turbine modules has been carried out by
P&W. By the contract of this time, low-pressure compressor
module maintenance duties were transferred to MHI. Further
negotiations are now under way toward transfer of maintenance
work on the low-pressure turbine modules as well.

Since acquiring certification in engine maintenance from the
U.S. Federal Aviation Administration in August 2002, MHI has
received a number of significant orders to date. From China
Airlines of Taiwan, it was contracted to perform aero-engine
maintenance work on nine items, including inner cylinders in the
third stage of PW4000 low-pressure turbines. From Malaysia
Airlines, it was hired to maintain the high-pressure compressor
modules of PW4056 engines. And for Thai Airways International,
it conducts maintenance of PW4158 engines. This solid record and
the high level of technological expertise already demonstrated
by MHI in maintenance and repair of parts, modules and engines
led ANA to place its order with MHI. The order will also help
ANA reduce its engine maintenance costs and shorten work period
by eliminating the need to transport modules in need of repair
to the U.S.

The PW4000 series of turbo-fan engines was co-developed by an
international group of partners centered on Pratt & Whitney. MHI
contributes 10% to the final product. As part of its business
plans focusing on expansion of aero-engine business, MHI has
been strengthening its overseas marketing activities relating to
maintenance and repair services to air carriers throughout
Southeast Asia. With the leverage of the latest order from ANA,
MHI now aims to approach airlines more aggressively with ever
more attractive proposals, as a way of developing its engine
maintenance business into a major pillar of aero-engine service
operations.

CONTACT:

All Nippon Airways Co., Ltd.
Shiodome City Center,
1-5-2 Higashi-Shimbashi, Minato-ku
Tokyo, 105-7133, Japan
Phone: +81-3-6735-1000
Fax: +81-3-6735-1005
Web site: http://www.ana.co.jp


DAIEI INCORPORATED: Government Sets Deadline for Aid Request
------------------------------------------------------------
The Industrial Revitalization Corporation of Japan (IRCJ) has
set a deadline next week for Daiei Incorporated and its main
lenders to ask for its assistance in the troubled retailer's
rehabilitation, reports Agence France Presse.

The state-backed turnaround body informed Daiei and its three
creditors UFJ Bank, Sumitomo Mitsui Banking Corporation and
Mizuho Corporate Bank about the Tuesday deadline in a letter
sent last week.

In the letter, IRCJ warned it might not render assistance to the
major retailer if it fails to respond by the deadline.

It also requested Daiei to halt asset evaluation being
implemented by a group of four international corporate
investors, which are keen in sponsoring Daiei's restructuring.

The IRCJ insisted it should be left alone to appraise Daiei's
assets. It has been evaluating Daiei's assets in case the
retailer decides to seek assistance but has been hampered by a
delay in disclosure of key information from Daiei.

Officials raised their concern about a possible delay in the
completion of Daiei's asset evaluation, which could hamper
IRCJ's purchase of loans extended by UFJ Bank and other lenders
to the supermarket operator.

Daiei, Japan's third-largest supermarket chain, had debts
totaling JPY1.07 trillion (US$9.7 billion) as of March 31.

CONTACT:

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


JAPAN AIRLINES: "Class J" Seat Wins Top Japan Design Award
----------------------------------------------------------
Japan Airlines' newly introduced domestic business class seat,
the "Class J" seat, has won Japan's "Good Design Award" for
2004. The award is in the product design category of the top
Japanese design award program sponsored annually by the Japan
Industrial Design Council (JIDC).

JAL introduced the stylish new domestic seat from June 1st as a
key component of a new, simplified and lower-priced domestic
business class, CLASS J.

The new domestic service is being introduced as a response to a
recent survey that showed that domestic business travelers
prefer comfort and reasonable cost to more extensive in-flight
meal and refreshment services.

Class J on Japan Airlines Domestic* services replaced the former
JAL `Superseat' service brand of domestic business class. It is
being installed on around 70 domestic aircraft.

Class J service is based on the new seat, designed for the JAL
Group by GK Industrial Design Company of Japan, designers of
JAL's award-winning international business class `'Shell Flat
Seat''.

- Seat pitch is 95 cm (regular domestic economy seat pitch is 79
cm)

- Seat width is 47 cm (regular domestic economy domestic economy
seat width 44 cm)

- Arm rest width 18 cm (regular 6 cm)

- It is ergonomically designed for greater pelvic support.

- The seat slides into the recline position in a rocking chair
action.

JAL Domestic has increased the number of Class J seats in four
types of twin aisle aircraft, domestic B747-400s, B777s, B767
and A300-600R. There is a flat rate charge of 1000 yen per seat
in addition to the regular full fare.

This is the fourth major design award for JAL seats. In 2003,
Japan Airlines' international business class, JAL Executive
Class Seasons "Shell Flat Seat" was picked for the JIDC "Good
Design Award" in the product design category.

In December 2002 The Chicago Athenaeum Museum of Architecture
and Design awarded its coveted Good Design Award for 2002 to the
JAL Shell Flat Seat.

Earlier that year JAL's first class seat, the "Skysleeper Solo",
created by leading British designer Ross Lovegrove, won the 2002
JIDC "Good Design Award" for product design.

ABOUT THE JIDC AWARD

First established by the former Ministry of International Trade
and Industry (MITI) in 1957 and taken over by the Japan
Industrial Design Council (JIDC) in 1998, the Japan "Good Design
Award" is now made in several categories including product
design, architecture and environment, communications and new
frontier categories. JAL's 2003 award is in the product design
category.

CONTACT:

Japan Airlines Corporation
4-11, Higashi-shinagawa 2-chome,
Shinagawa-ku
Tokyo, 140-8605, Japan
Phone: +81-3-5769-6097
Fax: +81-3-5460-5929
Web site: http://www.jal.co.jp


JAPAN AIRLINES: Boeing To Upgrade Three 747 Freighters
------------------------------------------------------
Japan Airlines Corporation (JAL) has ordered three 747-400
Special Freighters with up to four options from U.S. aircraft
manufacturer Boeing, reports CBS MarketWatch.

JAL is set to upgrade its cargo fleet with the 747-400, a
passenger airplane converted into a cargo airplane.

Boeing will convert the first JAL airplane in December 2005,
which will be delivered back to the airline in May 2006.

Boeing will modify the JAL airplanes at Taikoo Aircraft
Engineering in Xiamen, China, a Boeing-approved modification
facility.


KOBE STEEL: Introduces ELCH2S Steel Bar
---------------------------------------
Kobe Steel (TSE: 5406) has announced that its ELCH2S steel bar
is being used in the electromagnetic clutch of Honda's luxury
performance sedan, the Acura RL (North America) and Honda Legend
(Japan), which will be introduced this autumn. This
environmentally responsive, energy-saving new steel is noted for
its outstanding magnetic and cutting qualities.

These two models are equipped with Honda's Super Handling All-
Wheel-Drive system (SH-AWD). This is the world's first and only
all-wheel-drive system that distributes the optimum amount of
torque not only between the front and rear wheels but also
between the right and left rear wheels. The SH-AWD system uses
direct electromagnetic clutches inside the rear drive unit,
another world's first, that employ solenoids to obtain precise,
continuously variable torque regulation.

The solenoids in the clutches are made of Kobe Steel's high
performance steel, ELCH2S, noted for its exceptional magnetic
properties. With increased electromagnetic control, ELCH2S makes
possible smaller, lighter parts with lower battery consumption.
In addition, the excellent cutting properties of the steel
contribute greatly to productivity in parts production.

To improve system responsiveness and reduce power consumption of
automotive solenoids and other electronically controlled parts,
steel containing no more than 0.02% carbon is commonly used
because of its excellent magnetic and cold forging properties.
Other impurity elements are also low in this ordinary steel.

However, conventional low-carbon steel suffers from poor
chipping during cutting, resulting in low efficiency in
automatic operations. In addition, it is difficult to process
into complex shapes. To improve processing options, a small
amount of lead is often added. As lead burdens the environment,
manufacturers have been grappling with ways to increase cutting
performance without using lead.

Using its know-how in specialty steel production, Kobe Steel
has, in ELCH2S, succeeded in improving the cutting quality while
maintaining the magnetic properties by adding elements other
than lead. Kobe Steel was able to develop new steel responsive
to the environment with energy-saving qualities. Improved
cutting, without using lead, a burden on the environment,
enables ELCH2S to contribute to improving mileage through
smaller lighter vehicles and saving power.

Year by year, electrical parts for control systems are becoming
more complicated and must operate at faster speeds. In order to
increase the function of the parts, the quality of the material,
the shape of the parts, and environmental considerations demand
attention. Serving these needs, Kobe Steel utilizes its
electromagnetic field simulation technology to provide optimum
designs for customer solutions.

For more information on the SH-AWD:
http://world.honda.com/news/2004/4040401.html

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


MITSUBISHI FUSO: Ministry Works To Ban Buses From Streets
---------------------------------------------------------
The Ministry of Transport has called on Japanese bus operators
to idle all buses manufactured by Mitsubishi Fuso Truck and Bus
Corporation due to the growing number of recent accidents
involving the vehicles, the Associated Press relates.

The appeal was made following a most recent mishap when
passengers aboard Mitsubishi Fuso buses were injured by
defective seats that suddenly broke away from the floor.

Around eight reported cases of faulty seats on the buses in
question have injured 12 passengers across the country.

Ministry of Transport spokesman Naoyuki Nakazato said the
ministry took the initiative to ban Mitsubishi Fuso buses from
the streets because the company had acted too slowly to replace
or repair defective seats.

On September 22, the scandal-mired truck maker submitted a
recall report to the ministry involving 51,943 large and small
buses produced between 1974 and June 2004.

Mitsubishi Fuso was to have started recalling buses this week to
replace and repair faulty pins anchoring seats to the floor.

CONTACT:

Mitsubishi Fuso Truck and Bus Corporation
2-16-4, Kounan,
Minato-ku,Tokyo 108-8285,
Phone: +81-3-6719-4821
Fax: +81-3-6719-0111
Web site: http://www.mitsubishi-fuso.com


NARUI NORIN: Enters Bankruptcy
------------------------------
Golf course developer Narui Norin K.K. has entered bankruptcy
with total liabilities of US$425.83 million, Teikoku Databank
America says. The firm is located in Nishishirakawa-gun,
Fukushima 961-8091.

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


NISSAN MOTOR: Acquires Stadium Yokohama Naming Rights
-----------------------------------------------------
Nissan Motor Co., Ltd., announced Thursday in a press release
that it has acquired the naming rights to International Stadium
Yokohama, the venue for the 2002 FIFA World Cup Final, and will
rename the facility "Nissan Stadium" as of March 1, 2005.

Nissan will pay JPY470 million a year to Yokohama City for the
rights, which will last five years.

"We are delighted to partner with Yokohama City on this
initiative, which precedes Nissan's move to Yokohama in 2010,"
said Norio Matsumura, executive vice president in charge of
global sales and marketing at Nissan. "Through this partnership,
we plan to promote sports and cultural activities at the
stadium, as well as contribute to the regional economy."

On June 24, Nissan announced its decision to transfer its Tokyo
headquarters functions and build a new headquarters at Minato
Mirai 21 in Yokohama City in 2010. Nissan was established in
Yokohama City in 1933, and the city remains its registered
headquarters. Nissan owns 18 facilities in Kanagawa, including
the Yokohama engine assembly plant (Yokohama City), Oppama
vehicle assembly plant (Yokosuka City) and Nissan Technical
Center (Atsugi City), an R&D facility. The company employs about
24,000 workers in the area.

International Stadium Yokohama, which opened in March 1998,
seats 72,327 people, making it the biggest stadium in Japan. The
facility, which is used for both domestic and international
sports games, is also home to Nissan's J-League soccer team, the
Yokohama F£Marinos.

Nissan plans to hold an opening event to celebrate renaming of
the stadium during the opening match of the 2005 J-League
Division 1 hosted by the Yokohama F£Marinos.

As part of Thursday's agreement with Yokohama City, Nissan also
acquired the naming rights to Kozukue Stadium and Sports
Community Plaza, adjoining facilities to International Stadium
Yokohama. The two facilities will be renamed "Nissan Field
Kozukue" and "Nissan Water Park," respectively.

International Stadium Yokohama, which is owned by Yokohama City,
is managed by Yokohama Sports Promotion Enterprise Inc. The
stadium has a surface area of 164,054 m2 and a building area of
67,050 m2. The facility includes a 106 m x 73 m natural grass
field, as well as a Class-1 certified, all-weather, urethane-
surface track consisting of nine 400-meter lanes.

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


UFJ HOLDINGS: Prosecutors Launch Probe
--------------------------------------
The Tokyo District Prosecutors raided UFJ Holdings
Incorporated's banking unit Friday following allegations that
UFJ Bank illegally blocked government inspections by falsifying
information about its non-performing loans, the Associated Press
reports.

The move was carried out after the Financial Services Agency
(FSA) filed a criminal complaint at the prosecutors' office,
demanding an investigation over the possibility of UFJ bank
obstructing inspection in 2003 by concealing documents and
computer files containing information about troubled corporate
debtors.

On Thursday, the financial regulator barred UFJ Bank's Tokyo and
Osaka branches from lending to new corporate clients in Japan
for six months beginning October 18.

In July, UFJ Bank admitted that its directors and other
executives had conspired to hide data about corporate borrowers
and falsified documents sent to the FSA. The bank said it would
punish three top executives, and pledged to improve its
management.

Meanwhile, UFJ has issued a statement saying the planned merger
with Mitsubishi Tokyo Financial Group will push through.

UFJ is scheduled to hold a meeting in June next year to seek
approval for its merger with Mitsubishi Tokyo. The alliance
would create a lender with US$1.7 trillion of assets, eclipsing
Citigroup Inc.'s US$1.4 trillion of assets.

CONTACT:

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


UFJ HOLDINGS: Minister Ito Refuses to Comment on Search
-------------------------------------------------------
Financial Services Minister Tatsuya Ito declined to comment on a
search conducted by prosecutors of the headquarters of UFJ Bank,
the core banking unit of UFJ Holdings Incorporated, Reuters
reports.

Mr. Ito said he couldn't comment on the investigation as it may
affect the process. However, he assured that he would monitor
the progress.

On Friday, prosecutors searched UFJ Bank's Tokyo offices a day
after the Financial Services agency lodged a criminal complaint
against UFJ and imposed a lending ban on the bank for blocking
FSA inspections.


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


DAEWOO HEAVY: Delays Selection of Preferred Bidders
---------------------------------------------------
The selection for a preferred bidder for Daewoo Heavy Industries
& Machinery Ltd.'s major stake will be postponed later this
month, reports Asia Pulse, citing sources close to the issue.

The original date for the selection was set early this month,
but the examination of the final proposals submitted by seven
companies and investor groups is taking longer than expected,
the sources added.

The delay is also attributed to other participants of the sale,
especially the government organizations still awaiting the
annual parliamentary audits through October 22.  The sources
predicted that the selection might come after the parliamentary
audits are finished.

The seven bidders for a majority stake in Daewoo Heavy consists
of Pantech-led consortium which took in Daewoo Heavy workers,
Doosan Heavy Industries Co. (KSE:034020), Hyosung Corp.
(KSE:004800), a consortium of Samyoung Corp. (KSE:036530) and
Tongil Heavy Industries Co. (KSE:003570), and Design Limit,
foreign investors like farming equipment maker Terex Corp., U.S.
equity funds Carlyle Group and JP Morgan Partners.

The Pantech-led consortium, Doosan Heavy Industries Co., and
Hyosung Corp, are tipped as leading candidates.

Korea Asset Management Corp. (KAMCO), which is leading the sale,
had planned to pick two preferred bidders for the country's
biggest manufacturer of defense and construction equipment by
early this month. KAMCO reportedly prefers selling the company
as a whole, rather than in pieces to a number of investors.

KAMCO plans to complete the sale within the year if it sells the
whole 58 percent stake to one investor, and by early next year
if it sells it in pieces.

CONTACT:

Daewoo Heavy Industries & Machinery Ltd.
14-34 Youido-Dong, Youngdungpo-Gu,
Seoul 150-010
Republic of Korea
Web site: www.dhiltd.co.kr/eng/index.asp


HANARO TELECOM: Number of Subscribers Surge in September
--------------------------------------------------------
Subscribers of Hanaro Telecom Inc.'s high-speed Internet
services rose by 10,651 to 2.79 million in September on the back
of aggressive marketing, reports Reuters.

Fixed-line services' subscribers also rose by 52,322 from a
month earlier to 1.23 million.

"The company is benefiting from the introduction of number
portability," said a company official, referring to the rise in
fixed-line subscribers.

The launch of Hanaro's number portability system in July has
attracted customers from bigger rival KT Corp.  Under the number
portability system, fixed-line subscribers can change service
provider without having to change their number.

Hanaro aims to increase its share of the fixed-line phone market
to as high as 20 percent by 2009 from the current 5.3 percent.

KT controls the rest of the market.

CONTACT:

Hanaro Telecom, Inc. (NASDAQ: HANA)
Shindongah Fire & Marine Insurance Bldg. 43,
Taepyeongno2-Ga, Jung-Gu
Seoul, 100-733, South Korea
Phone: +82-106
Fax: +82-2-6266-4399
Web site: http://www.hanaro.com


HYNIX SEMICONDUCTOR: S&P Upgrades Rating to 'B-'
------------------------------------------------
Standard & Poor's Ratings Services raised its long-term local
and foreign currency ratings on Korea's Hynix Semiconductor Inc.
to 'B-' from 'CCC+' following the completed sale of the
company's non-memory division. The ratings were removed from
CreditWatch, where they were placed on June 2, 2004.

At the same time, Standard & Poor's raised its long-term local
and foreign currency ratings on Hynix Semiconductor
Manufacturing America Inc. to 'B-' from 'CCC+' and removed the
ratings from CreditWatch. The outlooks on the ratings are
stable.

"Hynix's credit profile is expected to continue strengthening,
with improved earnings supported by favorable conditions for the
memory business and net cash receipt of around Korea won 530
billion, and debt reduction of W334.5 billion, from the sale of
the non-memory chip business," said Standard & Poor's credit
analyst Eun Jin Kim.

"Nevertheless, Hynix still faces large capital investment
requirements in the medium term to maintain its competitiveness.

The company's debt protection measures are still relatively weak
and vary widely through business cycles. Hynix needs to
substantially lower its debt levels in order to offset the
significant risks characteristic of the memory chip industry,"
Ms. Kim added.

Hynix Semiconductor Manufacturing America repaid a total of
US$503 million of maturing debt this year, and has about US$36
million of long-term debt maturing in 2005.

CONTACT:

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


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


ARTWRIGHT HOLDINGS: Issues Restructuring Scheme Update
------------------------------------------------------
Artwright Holdings Berhad announced that the Securities
Commission approved the Proposed Extension of Time for one (1)
year up to 28 January 2005 for the Company to comply with the
following conditions:

(i) As set out in Paragraph 11.12 of the SC's Policies and
Guidelines on Issue/Offer of Securities, listings for companies
involved in trading activities is only allowed on the Main Board
of the Kuala Lumpur Stock Exchange ("KLSE"). Pursuant thereto,
Artwright is required to fully comply with the requirements of
Paragraph 11.12 of the SC's Policies and Guidelines on
Issue/Offer of Securities or conduct its core business which has
been approved for listing on the Second Board of the KLSE within
a period of two (2) years from the date of the SC's approval;
and

(ii) Artwright should endeavor to eliminate the accumulated
losses of the Artwright Group within a period not exceeding 2.5
years from the date of the SC's approval.

The above conditions are in relation to Artwright's proposed
restructuring scheme which was approved by the SC vide its
letter dated 28 January 2002.

It is noted that the extension of time has been approved for one
(1) year up to 28 January 2005 as opposed to the proposal for an
extension of time for two (2) years up to 28 January 2006. The
approved extension of time is subject to the condition that
Artwright is required to disclose the steps taken or will be
taken to comply with the condition in paragraph (i) above in
Artwright's Quarterly Reports to the Bursa Malaysia Securities
Berhad and Artwright's Annual Reports until the condition in
paragraph (i) above has been complied with, together with the
submission of the Quarterly Progress Report in relation to the
status of compliance with the conditions of paragraph (i) above
to the SC.

The Board of Directors of the Company intends to appeal to the
SC on the aforementioned Proposed Extension of Time of one (1)
year up to 28 January 2005. An announcement on the outcome of
the appeal will be made upon receipt of a decision from the SC.

CONTACT:

Artwright Holdings Berhad
274909-A
6th Floor
3 Cangkat Raja Chulan
50250 Kuala Lumpur, WP
Malaysia

This announcement is dated 7 October 2004.


FABER GROUP: Granted Listing of 6,000,000 New Ordinary Shares
-------------------------------------------------------------
Faber Group Berhad's additional 6,000,000 new ordinary shares of
RM1.00 each issued pursuant to the conversion of RM12,000,000
nominal value of 2000/2005 irredeemable convertible unsecured
loan stocks into 6,000,000 new ordinary shares will be granted
listing and quotation with effect from 9 a.m., Monday, 11
October 2004.

CONTACT:

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


GULA PERAK: Reveals Closed Period Dealings By Director
------------------------------------------------------
Gula Perak Berhad (GPB) announced it has received the following
notification from its Director Mr. Lim Soo Kok of his intention
to deal in the securities of GPB during the closed period:

"I, Lim Soo Kok hereby declare that I have the following
interest in GPB as at 7 October 2004.

Securities                  Direct Interest       % of Shares
Ordinary Shares @  RM1.00   2,510,000             0.97%

In compliance with Paragraph 14.08 of the Listing Requirements
of Bursa Malaysia Securities Berhad (Bursa Malaysia) in relation
to directors' dealing in the securities of their public listed
companies during the closed period, I wish to inform Bursa
Malaysia that I intend to deal in the securities of GPB through
the stockbrokers during the closed period pending the
announcements by GPB of its result for the second quarter ended
30 September 2004."

Details of the transaction will be announced to Bursa Malaysia
within One (1) full trading day after the transaction.

CONTACT:

Gula Perak Berhad
Level 7, Dynasty Hotel
Kuala Lumpur 218, Jln Ipoh,
51200 Kuala Lumpur
Telephone: 03-4044 2828
Fax: 03-4044 6688


LAFARGE MALAYAN: Unit Enters Voluntary Liquidation
--------------------------------------------------
Lafarge Malayan Cement Berhad refers to its announcement dated
15 September 2003, in connection with the Member's Voluntary
Liquidation of SPMS Holdings Sdn Bhd (SPMSH), a subsidiary of
the Company.

The Company announced that following the Final Meeting of SPMSH
convened on 6 October 2004 to conclude the Member's Voluntary
Liquidation of SPMSH, the Liquidator have on 7 October 2004
lodged a Return Relating To Final Meeting with the Companies
Commission of Malaysia and with the Official Receiver. On the
expiration of 3 months after the filing date, i.e. on 7 January
2005, SPMSH shall be dissolved.

CONTACT:

LaFarge Malayan Cement Berhad
Level 12, Bangunan TH Uptown 3
No. 3 Jalan SS21/39
47400 Petaling Jaya
Tel: 03-7723 8200
Fax: 03-7722 4100

This announcement is dated 7 October 2004.


MBF HOLDING: Issues Litigation Update
-------------------------------------
MBF Holdings Berhad refers to its announcement on 15 September
2004 pertaining to the Kuala Lumpur High Court Civil Suit No.
D2-22-556-2003. The Company announced that Industrial and
Commercial Bank of China (Asia) Limited (plaintiff) has lodged
an appeal to the Court on 23 September 2004. The Plaintiff's
appeal has been fixed for hearing on 21 December 2004.

Yours faithfully,
For and on behalf of
MBf Holdings Berhad
Ding Lien Bing
Company Secretary

This Bursa Malaysia announcement is dated 7 October 2004.


MMC CORPORATION: Unit Enters Arbitration Proceedings
----------------------------------------------------
MMC Corporation Berhad (MMC) announced that its subsidiary MDS
Trans Asia Sdn. Bhd received a notice on 7 October 2004 in
respect of, among others, a fee of approximately RM7.7 million
being the fee for purported consultancy work provided by MDS
Trans Asia as transport management consultants.

MMC has instructed its solicitors to take the necessary action
to defend the claim, as the case has no merits.

The arbitration proceedings are not expected to have any
material impact on the operations and/or the future earnings of
the MMC Group.

CONTACT:

MMC Corporation Berhad
10th Floor, Block B, HP Towers
No. 12, Jalan Gelenggang, Damansara Heights
50490 Kuala Lumpur
Malaysia
Tel: +603 2092 5588
Fax: +603 2093 9917

This announcement is dated 7 October 2004.


MMC CORPORATION: Unit Dissolved on October 7
--------------------------------------------
We refer to our announcement dated 29 September 2003 in relation
to Members' Voluntary Winding-up of D.V. Research Sdn Bhd. MMC
Corporation Berhad (MMC) announced that DV Research is now
deemed dissolved on 7 October 2004, pursuant to section 272(5)
of the Companies Act 1965.

DV Research was incorporated on 17 January 1989 and is 100
percent owned by Dana Vision Sdn Bhd, a wholly owned subsidiary
of MMC. The Company has issued and paid up capital of RM2.00 and
has never commenced operations since incorporation.

The Members' Voluntary Winding-up of DV Research is not expected
to have any material effect on the earnings or net tangible
assets of the MMC Group for the current financial year.

The Members' Voluntary Winding-up is part of MMC Group's
rationalization efforts.

This announcement is dated 7 October 2004.


MTD CAPITAL: Releases Amended Shares Buy Back
---------------------------------------------
MTD Capital Berhad amended its shares buy back notice dated
September 27, 2004.

Date of buy back from: 27/09/2004

Date of buy back to: 27/09/2004

Total number of shares purchased (units): 54,500

Minimum price paid for each share purchased (RM): 2.520

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

Total amount paid for shares purchased (RM): 138,010.35

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

Number of shares purchased retained in treasury (units): 54,500

Total number of shares retained in treasury (units): 3,031,800

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

Total issued capital as diminished: 0

Date lodged with registrar of companies: 28/09/2004

Lodged by: MTD Capital Bhd

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: Issues Additional Listing Of Shares
-----------------------------------------------
Naim Indah Berhad's additional 140,000 new ordinary shares of
RM0.20 each arising from the conversion of 140,000 nominal value
of RM0.20 irredeemable convertible unsecured loan stocks into
140,000 new ordinary shares will be granted listing and
quotation with effect from 9 a.m., Monday, 11 October 2004.

CONTACT:

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


PANGLOBAL BERHAD: Unveils September 2004 Production Figures
-----------------------------------------------------------
PanGlobal Berhad announced the production volume of coal of its
wholly owned subsidiary Global Minerals (Sarawak) Sdn Bhd for
the month of September 2004 was 48,352.32mt.

CONTACT:

Panglobal Berhad
8 Lorong P Ramlee
Kuala Lumpur, 50250
MALAYSIA
+60 3 2031 9199
+60 3 2032 3977


PAN MALAYSIA: Issues Private Placement Notice
---------------------------------------------
Further to the announcement dated 4 August 2004 in relation to
the Private Placement of 81,345,000 new ordinary shares of
RM0.50 each representing approximately 10 percent of Pan
Malaysia Corporation Berhad's existing issued and paid-up share
capital.

PM Securities Sdn Bhd had on 7 October 2004 fixed the issue
price for the second tranche of 1,560,000 new ordinary shares of
RM0.50 each at RM0.50 per share based on a discount of RM0.11 or
18.5% from the weighted average market price of PMC shares for
the five (5) market days ended 7 October 2004 of RM0.61.

This announcement is dated 7 October 2004.

c.c. Securities Commission
Attn.: Encik Kris Azman Abdullah

CONTACT:

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


TALAM CORPORATION: Lists Additional 186,900 Shares
--------------------------------------------------
Talam Corporation Berhad's additional 186,900 new ordinary
shares of RM1.00 each issued pursuant to conversion of 1,869,000
irredeemable convertible preference shares into 186,900 new
ordinary shares will be granted listing and quotation with
effect from 9 a.m., Monday, 11 October 2004.

CONTACT:

Talam Corporation Berhad
5th Floor, Wisma Talam
52 Jalan Kampung Attap
50460 Kuala Lumpur, WP
Telephone number: 603-2732222
Fax number: 603-2731439


TANCO HOLDINGS: Unit Enters Share Sale Agreement
------------------------------------------------
The Board of Directors of Tanco Holdings Berhad announced that
its wholly owned subsidiary, Tanco Resorts Berhad (TRB) on 7
October 2004 entered into a Share Sale Agreement (SSA) to
dispose the entire issued and paid-up share capital in Tanco
Resorts (NZ) Limited (TRNZ). The SSA comprised of three hundred
thousand ordinary shares of New Zealand Dollar One (NZ$1.00)
each (the Sale Shares) to Anggraini binti Sentiyaki (the
Purchaser) for a sale price of New Zealand Dollar One (NZ$1.00)
only and sale of its entire debts due from TRNZ to the Purchaser
for a consideration of Ringgit Malaysia Two Million One Hundred
Thousand (RM2.1 million) only.

DETAILS OF THE PROPOSED DISPOSAL

BRIEF INFORMATION OF TRNZ

TRNZ, is a company of limited liability incorporated under the
laws of New Zealand with its address at Speargrass Flat Road, R
D 1, Queenstown, New Zealand and with an authorised capital of
New Zealand Dollars Three Hundred Thousand (NZ$300,000.00) only
divided into Three Hundred Thousand (300,000) ordinary shares of
New Zealand Dollar One (NZ$1.00) each out of which Three Hundred
Thousand (300,000) ordinary shares have been issued and are
fully paid up or credited as fully paid up ("the Issued Shares")
and which Issued Shares represent One Hundred per cent (100%) of
the issued capital of TRNZ. TRB is the registered and/or
beneficial owner of all the Issued Shares.

As at 31 December 2004, TRNZ is indebted to TRB in the sum of
NZ$$1,856,295.00 (the said Debts).

The Company is the registered and/or beneficial proprietor of
all that parcel of land measuring approximately 2.5945 hectares
and held under Part Lot 1, Deposit Pan 17510, Part Section 67,
Block VI, Shotover Survey District, District of Otago, South
Island, New Zealand (the Property).

As at the date of the SSA, the Property is subject to two (2)
mortgages (the Encumbrance), the particulars of which are as
follows:

(a) 967225.1 in favor of AMMB International (L) Ltd (AIL); and

(b) 5196456.2 in favor of Arab-Malaysian Trustee Berhad (AMTB)
(AIL and AMTB shall hereafter be collectively referred to as the
the Mortgagees). The said mortgage in favor of AMTB is one of
the securities provided to the financiers of the TRB and the
Tanco Holdings Group (Tanco Bankers) pursuant to the
arrangement/agreement entered into between Tanco Bankers and TRB
and the Tanco Holdings Group.

BASIS OF SALE

The sale and purchase of the Sale Shares shall be on the
following basis:

(a) That the financial position of the Company as at 31 December
2003 is that as reflected in the audited accounts of TRNZ as at
that date;

(b) That the said Debts shall be assigned by TRB in favor of the
Purchaser and in consideration of which the Purchaser shall pay
to TRB the sum of Ringgit Malaysia Two Million and One Hundred
Thousand (RM2,100,000.00) on the terms set out in the SSA (the
Assignment Consideration) which is equivalent to the present
market value of the Property;

(c) That on completion herein, the Property shall be free from
the Encumbrance and all other charges, mortgages or encumbrances
whatsoever; and

(d) That on completion herein the Sale Shares shall be free from
all encumbrances pledges liens and charges.

APPROVAL REQUIRED

The sale and purchase of the Sale Shares shall be subject to and
conditional upon the following approvals being obtained, all
within three (3) months from the date of the SSA, failing which
there shall be extended a further one (1) month or such other
longer period as the parties may mutually agree in writing to
obtain the approvals:

(a) The approval, to be obtained by TRB, of Tanco Bankers
(including the Mortgages) in respect of the sale of the Sale
Shares by TRB on the terms and conditions of the SSA and their
agreement to the redemption of the Property in the amount of the
Assignment Consideration;

(b) Such other approvals from the relevant authorities, if
applicable and to be obtained by the Purchaser and/or TRB, as
the case may require.

RATIONALE FOR THE PROPOSED DISPOSAL

The proposed disposal was decided after due consideration of the
state of financial position of TRNZ, the need to pare down the
Group's borrowings and that the Property is no longer strategic
for the Group's existing operations.

FINANCIAL EFFECTS OF THE PROPOSED DISPOSAL

The proposed disposal will not have any material effect on the
earnings per share, net tangible assets per share, share capital
and the substantial shareholders' shareholdings of the Company
for the financial year ending 31 December 2004.

DIRECTORS AND SUBSTANTIAL SHAREHOLDERS' INTEREST

None of the Directors, substantial shareholders and/or person
connected to them have any interest, direct or indirect in the
proposed disposal.

DIRECTORS' RECOMMENDATION

The Board of Directors of the Company, after due consideration
of the rationale and all other aspects of the Proposed Disposal,
is of the opinion that the Proposed Disposal is in the best
interest of the Company.

CONTACT:

Tanco Holdings Berhad
Jalan Desa, Bandar Country Homes,
48000 Rawang, Selangor
Malaysia
Telephone  (60) 3 691 3388
Fax  (60) 3 691 3108


* Civil Litigation Conference Set October 13
--------------------------------------------
The Malayan Law Journal Sdn Bhd announced a Civil Litigation
Workshop Conference on "Trial Preparation & Execution
Proceedings" to be held at the Prince Hotel and Resident, Kuala
Lumpur, on 13 October 2004 at 9 a.m. to 5:30 in the afternoon.

Three ways to register:

(1) Fax: (603) 7718 6803

(2) Email: conferences@mlj.com.my
Register online at www.mlj.com.my

(3) Post: Malayan Law Journal Sdn Bhd
Level 12A (Tower 2) Kelana Brem Tower
Jalan SS 7/15 (Jalan Stadium), 47301
Kelana Jaya, Selangor Darul Ehsan.
Tel: 03 7718 6862/63/64

Trial lawyers must be masters of procedures- the complex bodies
of rules which so often determine the outcome of disputes.
Participants will have the opportunity to address the challenges
and issues of concern in civil litigation in this full day
workshop. This workshop deals with practical issues in trial
preparation and execution proceedings and will be useful for all
levels of practice. Corporate counsel involved in litigation
cases will find these workshops highly relevant as well.

Led by:

Mr. Wong Chong Wah, Partner, SKRINE and Mr. GK Ganesan, Partner,
GK Ganesan Saiful & Rokiah

Conference Fee: RM790.00

WORKSHOP PROGRAMME

9:30 a.m. - 12:30 p.m. Trial Preparation

Presented by:

Wong Chong Wah, Partner, SKRINE

When to start trial preparation

Applications under Order 14A and Order 33 RHC

Gathering evidence

Essential documents needed in the Discovery Process

Documents necessary in the process

Framing right questions in cross examination, looking at "open"
questions and "closed" questions Submissions

12:30 p.m. Luncheon

1:30 p.m. - 5 p.m.  Practice and Procedure Relating to Modes of
Execution

Presented by: GK Ganesan, Partner,
GK Ganesan Saiful & Rokiah

General rules relating in respect of writ of execution

Issues relating to time

Execution and Enforcement of Judgment and Order

Writ of Seizure and Sale

-Debtors Act 1957

-Nam Joo Hong Chan Feedmills Sdn
Bhd v Soon Hup Poultry Farm

-Tan Kim Khuan v Tan Kee Kiat (M)
  Sdn Bhd

Prohibitory Order

-Perwira Affin Bank v Ahmad Tajuddin B. Abdul Majid
-Ban Hin Lee Credit Sdn Bhd v Utama Computer Centre Sdn Bhd

Stay of Execution

Writ of Possession

Enforcement of Money Judgment

- Garnishee Proceedings
- Charging Orders
- Appointment of Receiver

Enforcement of Foreign Judgment

Other modes of Enforcement
-Committal

Ambard v Attorney General of
Trinidad
Datuk Hong Kim Sui v Tiu Shi
Kian & Anor
-Writ of Distress

SPEAKERS not to be missed...

Wong Chong Wah is a partner at SKRINE and has been in legal
practice for 34 years. He has undertaken a wide range of work,
which includes commercial law, company law, revenue law, land
acquisition law, insurance law and defamation law. He appears
frequently in the High Court, Court of Appeal and the Federal
Court. Mr. Wong has acted in several arbitration proceedings
involving construction contracts. Mr. Wong has also contributed
2 chapters on Banking and Compulsory Acquisition to the
Malaysian Court Forms, a Butterworth publication. Mr. Wong is a
law graduate from the University of Singapore.

GK Ganesan, a legal practitioner, obtained his LLB(Hons) degree
from Nottingham University, and then went on to obtain a Masters
degree in Company Law from University Malaya. His practice
centers on corporate and civil litigation. `GK' as he is
popularly known, is widely acknowledged as an authority in
Bankruptcy and Insolvency law due to his contribution to the
Bankruptcy & Insolvency volume of Malaysian Court Forms, and his
book, `Bankruptcy Law in Malaysia and Singapore'. GK is
presently engaged in writing a number of practitioners' books,
including a volume entitled `General Concept in Insurance law',
and a book entitled, `Corporate Misdeeds, Symptoms and
Remedies'.

WHO SHOULD ATTEND

Legal Practitioners
In- House Legal Counsel
Academicians
Chambering Students

Malayan Law Journal (MLJ) has served the Malaysian legal market
since 1932 and is the premier legal publisher in the country.
MLJ's aim offers the most comprehensive and current collection
of legal materials available in a choice of formats.
Its product range includes both local and international
practitioner books, subscriptions and a substantial family of
electronic works.

For enquiries, please contact:

Conferences Department
Malayan Law Journal Sdn Bhd (76125-H)
Leval 12A (Tower 2), Kelana Brem Tower,
Jalan SS 7/15 (Jalan Stadium),
47301 Kelana Jaya, Selangor Darul Ehsan
Tel: (603) 7718-6862 / 63/64  Fax: (603) 7718-6803
Email: conferences@mlj.com.my


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


HOUSE OF INVESTMENT: Releases 1H04 Amended Quarterly Report
-----------------------------------------------------------
House of Investments, Inc. (HI) furnished the Philippine Stock
Exchange a copy of its Amended Quarterly Report, using SEC Form
17-Q, for the quarter ended June 30, 2004.

A copy of HI's Amended Quarterly Report shall be made available
at www.pse.com.ph (under Listed companies).

For your information,
MA. PAMELA D. QUIZON-LABAYEN
Head, Disclosure Department
Noted by:
JURISITA M. QUINTOS
Senior Vice President - Operations Group

CONTACT:

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


NATIONAL STEEL: Ships $3.9-M Metric Tons of Steel to China
----------------------------------------------------------
Last month, National Steel Corporation sent a trial shipment of
5,600 metric tons of cold-rolled coils worth more than US$3.9
million to China, the Business World reports.

Global Steelworks International, Inc., which acquired the Iligan
steel mill in an internationally contested bid, has provided
employment to 1,000 workers to who were laid off in 1999.

Global Steelworks President Sushant C. Das stressed that it was
only a trial shipment, hinting that China, though the world's
largest steel producer, could become a potential market for
Philippine steel when the Iligan mill goes into commercial
production.

CONTACT:

National Steel Corporation
NSC Building Street 377 Sen.
Gil J. Puyat Avenue Area
Makati City, Metro Manila


NEGROS NAVIGATION: Forecasts PhP400M Losses This Year
-----------------------------------------------------
Debt-saddled Negros Navigation Co. (Nenaco) expects a net loss
of Php400 million this year, versus a net loss of Php8.2 million
a year earlier, the Business World reports.

Mr. Tagud said the shipping firm is expecting to incur losses
this year due to weaker operations, as five of Nenaco's nine
vessels are dry-docked, resulting in a 35%-37% decline in trips.

The Company has already booked losses amounting to PhP220.8
million in the first half. This was a reversal from PhP67.35
million in profit in the same period last year.

As it prepares for the first year of its rehabilitation program,
it is also trying to source some PhP130 million to finance the
dry-docking and repair of three vessels.

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
Web site: http://www.nenaco.com.ph


NEGROS NAVIGATION: Court Orders CEO Replacement
-----------------------------------------------
The Manila Regional Trial Court Judge Artemio S. Tipon has
ordered Negros Navigation Co. (Nenaco) to replace its President
and Chief Executive Sulficio Tagud Jr. if it wants to continue
with its corporate rehabilitation, reports the Business World.

Mr. Tagud used to be the court-appointed receiver of Nenaco
until it was discovered in one of the hearings that he was a
former Director of Bonifacio Land Corporation. Metro Pacific,
which owns 51 percent of Bonifacio Land, also owns 85 percent of
Nenaco.

Mr. Tagud refused to comment on the court order.

On October 4, Judge Tipon approved the 10-year corporate
rehabilitation plan of debt-saddled Nenaco. Nenaco filed for
corporate rehabilitation on March 29.

The shipping firm's 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.


NEGROS NAVIGATION: Creditors Name 3 Board Nominees
--------------------------------------------------
Creditors of Negros Navigation Co. have submitted to the Manila
Regional Trial Court the names of their three representatives to
the shipping firm's board of directors, according to The Manila
Times.

The three creditor nominees to the board are Renato A. Castillo,
DBP Senior Vice President, representing secured bank creditors;
Wellington Q. Aldemita, Pilipinas Shell Marine Center Manager
for secured nonbank creditors; and the lawyer Arlyn C. Soresca
of Unique Machine Shop, representing the unsecured creditors.

In its October 6 decision the court also ruled that creditor
representatives should not be ousted from the board without
prior approval of the court.

Nenaco's precarious financial position has kept it from paying
its loans on time, thus leading the shipping firm to file for
corporate rehabilitation before the local courts.


UNIWIDE HOLDINGS: Clarifies "SEC Defers Rehab Proposal" Report
--------------------------------------------------------------
Uniwide Holdings, Inc. clarified the news article entitled "SEC
defers decision on Uniwide rehab proposal" published in the
October 7, 2004 issue of the BusinessWorld (Internet Edition).

The article reported that "(t)he Securities and Exchange
Commission (SEC) has deferred action on a proposal to amend the
rehabilitation plan of retail and property firm Uniwide Group of
Companies to allow the parties to settle the matter. In a talk
with Reporters, Marie-Rose Lim, member of the SEC hearing panel
for Uniwide, said the commission decided to defer action on the
amendment proposal upon the request of Uniwide and its
creditors, Philippine National Bank (PNB) and Allied Banking
Corp. `The motion to alter the second amended rehabilitation
program is pending because we are allowing the parties to settle
this among themselves first. They asked that it be deferred for
the meantime,' she said. There was a proposal to alter the
second amendment to the rehabilitation program as the company,
PNB and Allied failed to agree on some of the details for a
dacion en pago or payment in kind arrangement. The details that
have to be reconciled, Ms. Lim said, pertain to interest rates
and valuation of properties."

Uniwide Holdings, Inc. ("UW"), in its letter to the Philippine
Stock Exchange dated October 7, 2004, stated that:

" Uniwide's Second Amendment to the Rehabilitation Plan (SAGARP)
provides for the dacion of the Metromall property to its
mortgagors, PNB and Allied Bank and the carving out of the
warehouse club portion to be assigned to another creditor. In a
meeting with the SEC and creditors PNB and Allied Bank in
September 2004, PNB proposed an amendment to the SAGARP i.e.
sharing by the said three creditors on a pro-rata basis instead
of carving out the warehouse club portion as provided in the
SAGARP. Recently, however, PNB advised us that they are no
longer amenable to sharing Metro mall with another creditor. The
said development involves only the three creditor banks and will
not have any effect on the rest of the SAGARP implementation.
(O)ur obligations to the three creditor banks remain unsettled."

For your information,
MA. PAMELA D. QUIZON-LABAYEN
Head, Disclosure Department
Noted by:
JURISITA M. QUINTOS
Senior Vice President - Operations Group

CONTACT:

Uniwide Holdings, Inc.
Upper Ground Floor Pearl Plaza Bldg.
0165 Quirino Avenue, Brgy. Tambo
Paranaque City
Telephone Number: (632)-851-12-58


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


ACT RENOVATION: Winding Up Hearing Set October 15
-------------------------------------------------
Notice is hereby given that a Petition for the Winding Up of Act
Renovation Works Pte Ltd by the High Court was on the 20th day
of September 2004 presented by Tye Engineering Pte Ltd, a
Creditor.

The said Petition will be heard before the Court sitting at the
High Court in Singapore at 10:00 a.m. on the 15th day of October
2004.

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

The Petitioner's address is 22A Lim Teck Boo Road, #04-03 Henley
Industrial Building, Singapore 537002.

The Petitioner's Solicitors are Messrs Goh JP & Wong of 133 New
Bridge Road, #14-03 Chinatown Point, Singapore 059413.

Messrs Goh Jp & Wong
Solicitors for the Petitioner

Note: Any person who intends to appear on the hearing of the
said Petition must serve on or send by post to the above named
Messrs Goh JP & Wong of 133 New Bridge Road, #14-03 Chinatown
Point, Singapore 059413, a notice in writing of his intention to
do so. The notice must state the name and address of the person,
or if a firm, the name and address of the firm, and must be
signed by the person or firm, or his or their 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 twelve
o'clock noon of the 14th of October 2004.

This Singapore Government Gazette notice is dated October 8,
2004.


AML CONSTRUCTION: Court to Hear Winding Up Petition
---------------------------------------------------
Notice is hereby given that a Petition for the winding up of AML
Construction Pte Ltd by the High Court was on the 24th day of
September 2004 presented by Aircon Designs Pte Ltd of 199 Kaki
Bukit Avenue 1, Shun Li Industrial Park, Singapore 416034, the
Judgment Creditor.

The said Petition will be heard before the Court sitting at the
High Court at 10:00 o'clock in the forenoon on the 22nd October
2004.

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

The Petitioners' address is 199 Kaki Bukit Avenue 1, Shun Li
Industrial Park, Singapore 416034.

The Petitioners' Solicitors is Messrs Loo Ngan Chor & Company of
71 Lucky Heights, Singapore 467623.

Messrs Loo Ngan Chor & Company
Solicitors for the Petitioning Creditors

Note: Any person who intends to appear at the hearing of the
said Petition must serve on or send by post to the above named
Messrs Loo Ngan Chor & Company, notice in writing of his
intention so to do. The notice must state the name and address
of the person or if a firm, the name and address of the firm,
and must be signed by the person of the firm, or his or their
solicitors (if any) and must be served, or, if posted, must be
sent by post in sufficient time to reach the above named not
later than twelve o'clock noon of the 21st of October 2004.

This Singapore Government Gazette notice is dated October 8,
2004.


DUBLINK MARKETING: Winding Up Hearing Slated for October 15
-----------------------------------------------------------
Notice is hereby given that a Petition for the winding up of
Dublink Marketing Pte Ltd by the High Court was on the 17th day
of September 2004 presented by Eq Communication Pte Ltd, a
Creditor.

The Petition will be heard before the Court sitting at 10:00
a.m. in the forenoon, on the 15th day of October 2004.

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

The Petitioner's address is Blk 1, Kaki Bukit Avenue 3 #10-01
KB-1, Singapore 416087.

The Petitioner's Solicitors are Messrs Joo Toon & Co of 20
Havelock Road, #03-08 Central Square, Singapore 059765.

Messrs Joo Toon & Co
Solicitors for the Petitioner

Note: Any person who intends to appear at the hearing of the
Petition must serve on or send by post to the Solicitors for the
Petitioner, notice in writing of his intention to do so. The
notice must state the name and address of the person or if a
firm, the name and address of the firm, and must be signed by
the person's firm or his or their solicitors (if any) and must
be served or if posted, must be sent by post in sufficient time
to reach the above named not later than twelve o'clock noon of
the 14th day of October 2004.

This Singapore Government Gazette notice is dated October 8,
2004.


EXCEL GOLF: Enters Winding Up Proceedings
-----------------------------------------
Notice is hereby given that a Petition for the winding up of
Excel Golf Pte Ltd by the High Court was on the 30th day of
September 2004 presented by Allied Domecq Spirits And Wine
(Singapore) Ltd.

The Petition will be heard before the Court sitting at Singapore
at 10.00 a.m. on Friday, the 22nd day of October 2004.

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

The Petitioner's address is at 350 Orchard Road, #18-08 Shaw
House, Singapore 238868.

The Petitioner's Solicitors are Messrs Allen & Gledhill of One
Marina Boulevard #28-00, Singapore 018989.

Dated the 8th day of October 2004.

Allen & Gledhill
Solicitors for the Petitioner

Note: Any person who intends to appear at the hearing of the
Petition must serve on or send by post to the above named Allen
& Gledhill, Solicitors for the Petitioner, notice in writing of
his intention to do so. The notice must state the name and
address of the person or if a firm, the name and address of the
firm and must be signed by the person or firm or his or their
Solicitor (if any) and must be served or if posted, must be sent
by post in sufficient time to reach the above named not later
than twelve o'clock noon of the 21st day of October 2004.

This Singapore Government Gazette notice is dated October 8,
2004.


INFORMATICS HOLDINGS: Posts Changes in Shareholder's Interest
-------------------------------------------------------------
Informatics Holdings Ltd on October 7 released a notice at the
Singapore Stock Exchange pertaining to the change in the
Percentage Level of Professor Neo Boon Siong's interest.

Part I

(1) Date of notice to issuer: October 07, 2004

(2) Name of Director: Professor Neo Boon Siong

(3) Please tick one or more appropriate box(es):
x a Director's (including a director who is a substantial
shareholder) Interest and Change in Interest. [Please complete
Parts II and IV]

Part II

(1) Date of change of interest: October 06, 2004

(2) Name of Registered Holder: Professor Neo Boon Siong

(3) Circumstance(s) giving rise to the interest or change in
interest: Others
Please specify details: Rights issue entitlement of one (1) new
ordinary share together with one (1) warrant for every four (4)
existing shares held

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

No. of shares held before the change: 137,000
As a percentage of issued share capital: 0.0437

No. of shares which are the subject of this notice: 34,000
As a percentage of issued share capital: 0.0087

Amount of consideration (excluding brokerage and stamp duties)
per share paid or received: S$8,500

No. of shares held after the change: 171,000
As a percentage of issued share capital: 0.0436

Part III

(1) Date of change of interest:

(2) The change in the percentage level: From % to %

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

(4) A statement of whether the change in the percentage level is
the result of a transaction or a series of transactions.

Subscription of Rights Issue entitlement

Part IV
(1) Holdings of Director, including direct and deemed interest:

                                             Direct    Deemed
No. of shares held before change:           137,000
% of issued share capital:                   0.0437

No. of shares held after change:            171,000
% of issued share capital:                   0.0436

Submitted by:
Raymond Quek Hiong How
Company Secretary


INFORMATICS HOLDINGS: Shareholder's Interest Changes
----------------------------------------------------
Informatics Holdings Ltd on October 7 released a notice at the
Singapore Stock Exchange pertaining to the change in the
Percentage Level of Dr. Michael Teng Yeow Heng's interest.

Part I

(1) Date of notice to issuer: October 07, 2004

(2) Name of Director: Dr. Michael Teng Yeow Heng

(3) Please tick one or more appropriate box(es):
x a Director's (including a director who is a substantial
shareholder) Interest and Change in Interest. [Please complete
Parts II and IV]

Part II

(1) Date of change of interest: October 06, 2004

(2) Name of Registered Holder: Dr Michael Teng Yeow Heng

(3) Circumstance(s) giving rise to the interest or change in
interest: Others
Please specify details: Full subscription of shares pursuant to
the Rights Issue of (1) new ordinary share together with one (1)
warrant for every four (4) exisiting shares held

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

No. of shares held before the change: 30,000
As a percentage of issued share capital: 0.0096

No. of shares which are the subject of this notice: 7,500
As a percentage of issued share capital: 0.0019

Amount of consideration (excluding brokerage and stamp duties)
per share paid or received: S$1,875

No. of shares held after the change: 37,500
As a percentage of issued share capital: 0.0096

Part III

(1) Date of change of interest:

(2) The change in the percentage level: From % to %

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

(4) A statement of whether the change in the percentage level is
the result of a transaction or a series of transactions.

Part IV
(1) Holdings of Director, including direct and deemed interest:

                                             Direct      Deemed
No. of shares held before change:            30,000
% of issued share capital:                   0.0096

No. of shares held after change:             37,500
% of issued share capital:                   0.0096

Submitted by:
Raymond Quek Hiong How
Company Secretary


INFORMATICS HOLDINGS: Releases Change in Shareholder's Interest
---------------------------------------------------------------
Informatics Holdings Ltd on October 7 released a notice at the
Singapore Stock Exchange pertaining to the change in the
Percentage Level of Dr. Wong Tai's interest.

Part I

(1) Date of notice to issuer: October 07, 2004

(2) Name of Substantial Shareholder: Dr. Wong Tai, also a
director of the Company

(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 23.17% to 18.53%

(3) Circumstance(s) giving rise to the interest or change in
interest: Others
Please specify details: Increase in share capital of the Company
to 392,000,000 shares as a result of Rights Issue

(4) A statement of whether the change in the percentage level is
the result of a transaction or a series of transactions.

The result of the above transaction

Part IV

(1) Holdings of Substantial Shareholder, including direct and
deemed interest:
                                             Direct   Deemed
No. of shares held before change:        72,655,304
% of issued share capital:                    23.17

No. of shares held after change:         72,655,304
% of issued share capital:                    18.53

Submitted by:
Raymond Quek Hiong How
Company Secretary

CONTACT:

Informatics Holdings Ltd.
Informatics Bldg.,
5 International Business Park
609914 Singapore
Phone: +65-65600003
Fax: +65-66653605
Website: http://www.informaticsgroup.com


NAIKUL INVESTMENTS: Court Issues Winding Up Notice
--------------------------------------------------
Notice is hereby given that a petition for the winding up of
Naikul Investments Pte Ltd by the High Court was on the 20th day
of September 2004 presented by Hillogs Holdings Pte Ltd of 9
Temasek Boulevard, #25-02 Suntec City Tower 2, Singapore 038989,
a creditor.

The said Petition will be heard before the Court sitting at High
Court at 10 o'clock in the forenoon on Friday the 15th day of
October 2004.

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

The Petitioner's address is at 9 Temasek Boulevard, #25-02
Suntec City Tower 2, Singapore 038989.

The Petitioner's solicitors are Messrs B T Tan & Company of 10
Anson Road, #27-16 International Plaza, Singapore 079903.

B T Tan & Company
Solicitors for the Petitioner

Note: Any person who intends to appear at the hearing of the
said Petition must serve on or send by post to the above named
solicitors notice in writing of his intention to do so. The
notice must state the name and address of the person, or if
a firm, the name and address of the firm, and must be signed by
the person or firm, or his or their solicitor (if any) and must
be served, or, if posted, must be sent by post in sufficient
time to reach the above named not later than 12 o'clock of the
14th day of October 2004.


WEE POH: Clarifies Business Times Article
-----------------------------------------
"On 6 October 2004, the Company announced, Inter Alia, the
temporary relief of two directors, Chew Yin What and Lee Kok
Swee from their duties in Wee Poh Holdings Limited and its
subsidiaries.

In the Business Times (BT) today, it was reported in an article
titled "Duties of 2 Wee Poh Directors Suspended" that:

"BT understands a police report has been made over discrepancies
discovered during the liquidation of a subsidiary. Sources said
yesterday that two directors were called in for questioning
after a report was filed by WP Piling (WPP) liquidator Don Ho &
Associates. Mr. Ho confirmed last night that a report was made
about six months ago after it was discovered that SG$500,000 of
WPP could not be accounted for."

The Board of Directors of the Company would like to make this
announcement to clarify the BT Report and to clarify the
circumstances under which Chew and Lee were temporarily relieved
of their duties.

Mr. Don Ho is the liquidator of one of the Company's
subsidiaries, W&P Piling Pte Ltd (WPP). In connection with such
liquidation, the liquidator alleged, Inter Alia that certain WPP
assets appear to be missing and/or written-off and that some of
these assets were found on the property of a company where Chew
and Lee are the sole directors and shareholders. Further, the
liquidator has said that he had made reports to the Police and
the Commercial Affairs Department concerning the same.

Chew and Lee, the former directors of WPP, have been asked by
the liquidator to assist in his investigations into the
allegedly missing and/or written-off assets of WPP. In
connection with the liquidator's investigations, Chew and Lee
were ordered by the High Court, inter alia, to attend in the
High Court between 22 to 24 September 2004 to be examined on
oath as to their knowledge of, inter alia, the allegedly missing
and/or written off assets of WPP and their conduct and/or
dealings and actions taken by them as directors of WPP in
relation thereto. The Company understands that the liquidator's
investigations are still ongoing.

The allegations made by the liquidator were brought to the
attention of the Board on or about 7 August 2004. The Board made
enquiries and obtained, inter alia, the affidavits of the
liquidator containing the allegations above on or about 20
September 2004.

In view of the continuing uncertainty as to when the
liquidator's investigations would be concluded, the Board
reviewed the situation on 4 October 2004, consequent upon which
it was resolved that Chew and Lee were to be temporarily
relieved of their duties.

The continuity of the functions of the Board would not be
affected because there remains 7 Board members, 2 of whom are
Executive Directors. Similarly, the Group's restructuring plans
would not be affected as the restructuring plans do not involve
WPP, which was wound up on or about 18 June 2003, and adequate
provision has been made by the Company in relation to the
liquidation of WPP.

Finally, the normal operations of the Company remain unaffected.
The reverse take over of the Company and debt restructuring of
the Company and its subsidiaries announced on 27 September 2004
and scheme of arrangement of one of the Company's subsidiaries,
Wee Poh Construction Co Pte Ltd, announced on 7 January 2004 are
all proceeding as planned."

Submitted by:
Ng Choon Kiat
Executive Director
on October 07,
Singapore Stock Exchange


WEE POH: Reveals Auditor's Report
---------------------------------
Wee Poh Holdings Limited revealed its auditor's report with
Emphasis of Matter by Auditor on its Financial Statements, at
the Singapore Stock Exchange on October 7, 2004

The Directors of Wee Poh Holdings Limited, pursuant to Rule
704(5), wishes to inform the emphasis of matter stated in the
Auditors' Report of the Company for the financial year ended
June 30, 2004 which is reproduced below:

We have audited the financial statements of Wee Poh Holdings
Limited and the consolidated financial statements of the Group
as set out on pages 6 to 48 for the financial year ended June
30, 2004. These financial statements are the responsibility of
the Company's Directors. Our responsibility is to express an
opinion on these financial statements based on our audit.

Except as discussed in the 5th paragraph below, we conducted our
audit in accordance with Singapore Standards on Auditing. Those
Standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are
free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in
the financial statements. An audit also includes assessing the
accounting principles used and significant estimates made by the
Directors, as well as evaluating the overall financial
statements presentation. We believe that our audit provides
reasonable basis for our opinion.

We draw your attention to Note 2 to the financial statements
which describes the following matters:

(a) The Group incurred a loss of SG$19,134,000 for the financial
year ended June 30, 2004, and as at that date, the Group had net
current liabilities of SG $21,518,000 and net shareholders'
deficit of SG$14,196,000. As at June 30, 2004, the Group's bank
overdrafts exceeded its cash balances by SG$4,784,000.

(b) The Standstill Agreements in place with the Company's
bankers at year end expired on August 31, 2004. On September 17,
2004, the Company announced that Bank A, Bank B and Bank C had
on September 1, 2004, September 13, 2004 and September 13, 2004
respectively, given Letters of Offer to its subsidiary, Wee Poh
Construction Co. (Pte.) Ltd. ("WPC'), and to the Company as
Guarantor for WPC to restructure the existing bank facilities.
The Directors of the Company are of the view that the Company
and the Group will be able to comply with the revised terms
under the Letters of Offer.

(c) The Scheme of Arrangement of its subsidiary, Wee Poh
Construction Co. (Pte.) Ltd. is presently in progress. Pursuant
to the Scheme of Arrangement, the subsidiary's creditors will
assign debts up to SG$15,000,000 owing to them by the subsidiary
to the Company in consideration for which they will receive
shares in the capital of the Company; and

(d) The Directors of the Company have been evaluating various
strategies to improve the operating performance and financial
position of the Company and the Group.

The ability of the Company and the Group to continue operating
as going concerns is dependent on the ability of the Company and
the Group to comply with the revised terms under the Letters of
Offer, the completion of the Scheme of Arrangement and the
success of the strategies of the Directors to improve the
operating performance and financial position of the Company and
the Group. These conditions described in the preceding paragraph
indicate that an uncertainty exists and they may affect the
Company's and the Group's ability to operate as going concerns.

As disclosed in Note 9 to the financial statements, a
subsidiary, WP Lorong Matan Holdings Pte Ltd, has been
deconsolidated from the Group's financial statements for the
financial year ended June 30, 2004 because it operates under
severe long-term restrictions, which significantly impair the
Company's ability to control the subsidiary. According to
Directors of the Company, management accounts of this subsidiary
have not been available since November 1, 2003. The loss on
deconsolidation of this subsidiary amounted to SG$1,638,000
(Note 21). Had the management accounts of this subsidiary for
the current financial year been available, subject to an audit
and included in the Group's financial statements, further
adjustments, if any, to the Group's financial statements for the
current financial year ended June 30, 2004 might have been
determined to be necessary.

In our opinion, except for the matter relating to WP Lorong
Matan Holdings Pte Ltd as referred to in the preceding
paragraph,

(a) The consolidated financial statements of the Group and the
balance sheet and statement of changes in equity of the Company
are properly drawn up in accordance with the provisions of the
Singapore Companies Act ("Act") and Singapore Financial
Reporting Standards so as to give a true and fair view of the
state of affairs of the Company and of the Group as at June 30,
2004 and of the results, changes in equity and cash flows of the
Group and changes in equity of the Company for the financial
year ended on that date; and

(b) The accounting and other records required by the Act to be
kept by the Company and by those subsidiaries incorporated in
Singapore of which we are the auditors have been properly kept
in accordance with the provisions of the Act.

The auditors' report on the financial statements of a
subsidiary, Wee Poh Construction Co. (Pte.) Ltd. contained an
emphasis of matter paragraph as disclosed in Note 31 to the
financial statements.

Deloitte & Touche
Certified Public Accountants

Aric Loh Siang Khee
Partner

Singapore
October 4, 2004

CONTACT:

Wee Poh Holdings
213 Upper Thomson Road (S) 574348
Phone: (65) 64521210
Fax: (65) 64536310
Website: http://www.weepoh.com.sg/
E-mail:  info@weepoh.com.sg


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


CAPETRONIC INTERNATIONAL: Details Exercise of Warrants
------------------------------------------------------
As Capetronic International (Thailand) Plc. issued 63,220,000
units of Warrants and these warrants were at 25th exercise date
on the 30th of September 2004.

The Company, herewith, reported to the Stock Exchange of
Thailand the exercise of the warrants for the 25th exercise date
as per following details:

- Exercise ratio: 1 warrant has a right to subscribe 1.074
ordinary shares.
- Exercise price: THBBaht per share.
- Ordinary shares reserved to support the exercise: 67,898,280
shares.
- No. of warrant holders exercise: none.
- No. of warrant being exercised: none.
- Ordinary shares resulted from the exercise: none.
- Amount of money received from the share sale: none.
- Total remaining warrants listed in the Stock Exchange of
Thailand: 63,220,000 nits.

Please be informed accordingly,
Yours sincerely,
Pathrlap Davivongsa
Director

CONTACT:

Capetronic International (THAILAND) PCL
105 Moo 3,Bangna-Trat Road,
Thakham, Bang Pakong Chacherngsao
Telephone:(038) 573161-72
Fax: (038) 573173-4


JASMINE INTERNATIONAL: Disposes of TT&T Shares
----------------------------------------------
Chaengwatana Planner Company Limited as the Plan Administrator
of Jasmine International Public Company Limited would like to
inform that Jasmine International Group (Jasmine's Group),
holding 33.15 percent of the paid-up capital as at 16 July 2004
of TT&T Public Company Limited (TT&T), sold 102,695,649 shares
held in TT&T or equal to 3.55 percent so the total number of
shares which Jasmine's Group hold in TT&T will be 29.60 percent
of the paid-up capital as at 7 October 2004.

A disposal of TT&T shares was occurred in the Stock Exchange of
Thailand at the average price of THB4.25 per share during 9
September 2004 to 7 October 2004.  The proportion of shares held
by Jasmine's Group before and after the disposal are:

Company Name

Number of    Proportion      Number of        Proportion
shares held  of shares held  shares held      of shares held
Before sale  before sale     after sale       after sale
(Shares)        (%)           (Shares)            (%)

(1) Jasmine International PCL.

810,269,147     27.98         810,269,147         27.98

(2) Jasmine Telecom Systems PCL.

6,324,048       0.22           6,324,048           0.22

(3) Siam Teltech Computer Co., Ltd.

47,634,601      1.65       5,634,601           0.19

(4) T.J.P. Engineering Co., Ltd.

58,904,132      2.03        3,904,132          0.13

(5) Jasmine Submarine Telecommunications Co., Ltd.

31,956,173      1.10        30,960,677          1.07

(6) Acumen Co., Ltd.

4,947,760       0.17         247,607            0.01

Total

960,035,861    33.15         857,340,212       29.60

The expected benefit is to utilize the money received as working
capital of Jasmine's Group.  In the meantime, Jasmine's Group is
still the major shareholder of TT&T.

When considering the volume of the transaction by Net Tangible
Asset basis, the highest volume, it equals to 14.63 % so the
transaction size does not fall under the criteria, procedure and
disclosure concerning acquisition/disposal of listed company's
assets and related transaction according to the announcement of
the Stock Exchange of Thailand.

Please be informed accordingly.

Authorized director
(Mr.Somboon Patcharasopak)
Chaengwatana Planner Co., Ltd., the Plan Administrator of
Jasmine International Public Company Limited

CONTACT:

Jasmine International Public Company Limited
200 Fl. 30, Moo 4, Chaengwatthana Rd.,
Pak Kret, Nonthaburi
Telephone: 0-2502-3000-7
Fax: 0-2502-3150-2
Web site: www.jasmine.co.th


JASMINE INTERNATIONAL: SET Grants Listing of Securities
-------------------------------------------------------
Starting from 11 October 2004, the Stock Exchange of Thailand
(SET) allowed the securities of Jasmine International Public
Company Limited (JAS) to be traded on the SET after finishing
capital increase procedures.

Name: JAS
Issued and Paid up Capital

Old: THB8,317,697,550
New: THB8,318,338,800
Par Value: THB1
Allocate to:  641,250 warrants of existing shareholders (JAS-W2)
exercise to 641,250 common shares
Ratio: 1:1
Exercise Price: THB0.50
Exercise Date: 30 September 2004


KRUNG THAI: No Second Term for Incumbent President
--------------------------------------------------
Krung Thai Bank Pcl, with its president's office vacant since 9
July 2004, started a president recruitment process according to
a special state enterprise Law immediately. On 23 July 2004, its
board agreed to select Khun Viroj Nualkhair and on 9 September
2004, agreed to a proposed compensation and a draft employment
contract.

On 27 July 2004, the Bank of Thailand issued a regulation
requiring commercial banks to check qualification of its
president to be. Krung Thai Bank also required by the special
state enterprise law to check qualification imposed on it, for
prudence sake, check with the Bank of Thailand on 10 September
2004.

The Board of Directors, at its meeting on 7 October 2004,
considered the letter from the Bank of Thailand (BOT) replying
to the point of discussion on the qualifications of a person who
will take up the post of high - ranking executive of the Bank,
that the Bank was unable to appoint Mr.Viroj Nualkhair President
which with the Bank had to comply.

However, the Board of Directors considered the matter and
greatly appreciated Mr.Viroj Nualkhair's contribution of benefit
to the Bank during his tenure of office as the President.  The
Board thus passed its resolution to record such observation in
the minutes of the meeting.

Please be advised accordingly.
Yours sincerely,
Krung Thai Bank Public Company Limited
Suchart Dejittirut
(Mr. Suchart Dejittirut)
Vice Secretary to the Board of Directors

CONTACT:

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


                            *********


S U B S C R I P T I O N  I N F O R M A T I O N

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

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