TCRAP_Public/041012.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

             Tuesday, October 12, 2004, Vol. 7, No. 202

                            Headlines

A U S T R A L I A

ALANVALE ESTATE: Members Final Meeting Slated for October 18
APROLAB FLASHPOINT: Creditors Must Prove Claims By October 15
ARISTOCRAT LEISURE: S&P Ups Rating to 'BB'; Outlook Positive
AUSTRALIAN GAS: To Sell NGC Stake to Vector
AUSTRALIAN GAS: To Hold General Meeting October 19

AUSTRALIAN WORK: Receivers and Managers Appointed
BROUGHAM HOLDINGS: Final Meeting Set October 19
CASCADE AUSTRALIA: To Convene Final Meeting on October 19
CHISHOLM TRANSPORT: Members Resolve Voluntary Winding Up
COMINDICO AUSTRALIA: ACCC Seeks Response on Competition Issues

DJ HIGGINS: Final Meeting Slated for October 14
ENNISKILLEN PTY: Voluntarily Winds Up
GLOBAL TECHNICAL: Receiver and Manager Named
GREEN PLASTIC: Sets October 20 as Date of Final Meeting
HANDLINE PTY: Bibby Financial Appoints Receivers, Managers

JAMES HARDIE: NSW Government Moves to Take Legal Action
JAMES ROLFE: Creditors Final Meeting Set October 22
KASEBTA PTY: Final Meeting Scheduled October 27
KINDRED CLEANING: To Declare Final Dividend on October 15
MACPATTON PTY: To Face Voluntary Winding Up Process

VILLAGE ROADSHOW: Shareholders Endorse On-market Shares Buyback


C H I N A  &  H O N G  K O N G

CHINA GAS: Grants Options to Two Directors
CHINA GAS: Carries Out Capital Restructuring
LEABURG ENGINEERING: Liquidators Appointed
SK GLOBAL: Creditors Must Prove Claims by October 29
SMARTFAIR CORPORATION: Undergoes Winding Up Proceedings

VOLUMES COMPANY: Creditors Given Until November 1 to Prove Debts
WEI TAK: Court To Hear Winding Up Petition


I N D O N E S I A

BANK PERMATA: Standard Chartered Wins Bid for 51% Stake
DIRGANTARA INDONESIA: IDB Vows to Infuse Funds
GARUDA INDONESIA: Backs Planned Abolition of Departure Tax
PERTAMINA: Pledges to Secure Fuel Supply Before Ramadhan
* HIPMI Raises Doubts Over Divestment of State Assets


J A P A N

DAIEI INCORPORATED: Decides Against IRCJ Support, Says Kunio
MITSUBISHI FUSO: DaimlerChrysler To Take Charge for Recalls
SOJITZ HOLDINGS: Determines Terms of Preferred Stocks, CBs
UFJ HOLDINGS: Submits Improvement Report to TSE
UFJ HOLDINGS: Launches Roadshow to Brief Funds on MTFG Deal


K O R E A

KOOKMIN BANK: Committee Selects Candidate for New CEO
* Debts of State-Invested Firms Rise Almost 4%


M A L A Y S I A

ACTACORP HOLDINGS: SC Rejects Appeal on Restructuring Scheme
ANCOM BERHAD: Releases Shares Buy Back Notice
BUKIT KATIL: Clarifies Unaudited Financial Results
CONSOLIDATED FARMS: Issues Practice No. 1/2001 Update
FFM BERHAD: Bursa Malaysia To Delist Securities

GULA PERAK: To List 17,000 New Ordinary Shares
KUMPULAN JAPAY: Faces Winding Up Petition
NORTH BORNEO: Posts Litigation Update
SETEGAP BERHAD: Seeks New Corporate Adviser
TENAGA NASIONAL: Issues Books Closure Notice


P H I L I P P I N E S

COLLEGE ASSURANCE: SEC Seeks New Committee to Monitor Finances
MANILA ELECTRIC: ERC OKs Cross Subsidy Removal For Customers
METRO PACIFIC: Clarifies "Transco Fetches US$3.4B Offer" Report
NATIONAL POWER: Posts Php13.3B Savings in 2003
NATIONAL STEEL: Wants to Settle Obligations in 5 Years

NEGROS NAVIGATION: Clarifies "Court Orders CEO to Retire" News
PHILIPPINE LONG: Discloses Additional Listing of Shares
PHILIPPINE REALTY: Court of Appeals Reverses RTC Ruling


S I N G A P O R E

OPTICS STORAGE: Faces Winding Up Proceedings
SEMICONDUCTOR ALLIANCE: Creditors to Prove Debts by November 8
TOTOKU SINGAPORE: Creditors Must Submit Claims by November 8
UNITED ASIA: Enters Winding Up Proceedings
WAM!NET SINGAPORE: Posts Extraordinary General Meeting Results

WEE POH: Issues Clarifying Statement


T H A I L A N D

T.C.J. ASIA: Details Progress of Business Reorganization
T.C.J. ASIA: CBC Approves Business Reorganization Plan
T.C.J. ASIA: Discloses Process of Capital Increase
* BOND PRICING: For the Week 11 October to 15 October 2004

     -  -  -  -  -  -  -  -

=================
A U S T R A L I A
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ALANVALE ESTATE: Members Final Meeting Slated for October 18
------------------------------------------------------------
Notice is hereby given pursuant to Section 509 of the
Corporations Act 2001 that a Final Meeting of Members of
Alanvale Estate Investment Company Pty Ltd (In Voluntary
Liquidation) will be held at the office of the Liquidator, 1st
Floor, Lexen Building, 200 Malop Street, Geelong, on Monday, 18
October 2004 at 11:00 a.m. for the purpose of having an account
laid before them showing the manner in which the winding up has
been conducted and the property of the company disposed of, and
of hearing any explanations that may be given by the Liquidator.

Dated this 9th day of September 2004

Russell Peake
Liquidator
Jenkins Peake & Co
Chartered Accountants
PO Box 1570, Geelong 3220
Telephone: (03) 5223 1000,
Facsimile: (03) 5221 4938


APROLAB FLASHPOINT: Creditors Must Prove Claims By October 15
-------------------------------------------------------------
A first and final dividend is to be declared on the 8th
November 2004 for Aprolab Flashpoint (Australia) Pty Ltd (In
Liquidation).

Creditors whose debts or claims have not already been admitted
are required on or before the 15th of October 2004 to formally
prove their debts or claims. If they do not, they will be
excluded from the benefit of the dividend.

Dated this 14th day of September 2004

Gregory J. Shilton
Official Liquidator
Aprolab Flashpoint (Aust) Pty Ltd
Gregory J. Shilton & Co
1st Floor, 407 Canterbury Road,
Surrey Hills Vic 3127


ARISTOCRAT LEISURE: S&P Ups Rating to 'BB'; Outlook Positive
------------------------------------------------------------
Standard & Poor's Ratings Services said it has raised its
corporate credit rating on Australia's Aristocrat Leisure Ltd.
to 'BB', from 'BB-', reflecting an improved performance in
Aristocrat's U.S. operations, greater control over working
capital, and restoration of a conservative financial profile.
The outlook is positive.

The rating on Aristocrat reflects the company's leading position
in the Australian gaming equipment market, and an increasingly
diversified business profile by geographic region. Generating
AU$108.4 million EBIT for the six months to June 30, 2004,
following AU$86.8 million EBIT before significant items for the
year ended Dec. 31, 2003, the group is starting to show evidence
of a turnaround and improvement in operating performance.

License approvals, product quality improvements, better sales
practices, and control over inventory have lifted cash flows and
resulted in significant debt reduction. With net debt falling to
AU$10.9 million at June 30, 2004, from AU$292.1 million at Dec.
31, 2002, and annualized debt to EBITDA now at less than 1.0x,
Aristocrat has returned to a conservative financial profile, and
has ample capacity to fund a share buyback program of up to
AU$100 million without jeopardizing the rating. Aristocrat has
no liquidity or refinancing risks, with its US$130 million
subordinated convertible bonds due in 2006 being currently in
the money, and if not converted, easily met from available
liquidity.

"Growth in the U.S. business is a key driver of the improvement,
with the installed base of participation games increasing to
4,051 from 2,755 in the six months to June 30, 2004, and
providing a stable source of cash flow," said Andrew Lally,
credit analyst in Standard & Poor's Corporate & Infrastructure
Ratings group. Although sales growth in the U.S. could dampen
somewhat in the next 12 months, with consolidation among casino
operators, the outlook for gaming is generally positive, and
should provide further opportunities for Aristocrat to increase
its market share.

"Achieving profitable growth while increasing market share
against industry leader International Game Technology (IGT) will
be challenging; however, Aristocrat's demonstrated expertise in
the video slot machine market, growing library of games, and
ability to offer games on a WAP basis, provides a solid platform
to compete against IGT," said Mr. Lally.

Despite Aristocrat's still strong market position in the
Australian and New Zealand markets, an effective cap on
electronic gaming machine numbers is limiting growth
opportunities to the replacement cycle. Sales in Australia fell
12% in the first half of fiscal 2004 over the previous
corresponding period, and are not likely to improve for the full
year.

Nevertheless, Aristocrat has been achieving greater cost
efficiencies to offset falling sales, and should be able to stem
the impact on cash flows by moving existing customers to higher
value features or participation contracts.

The positive outlook reflects an improving position in the U.S.,
underpinned by higher sales of standalone and participation
machines, and conservative financial profile. Further evidence
of a sustained recovery in the U.S. operations, a conservative
approach to offshore growth in Europe and Asia, and maintenance
of a sound financial profile, could see the rating raised to
'BB+'.

CONTACT:

Aristocrat Leisure Ltd.
71 Longueville Road,
Lane Cove, Nsw,
Australia, 2066
Head Office Telephone: (02) 9413 6300
Head Office Fax: (02) 9420 1352
Web site: http://www.aristocratgaming.com


AUSTRALIAN GAS: To Sell NGC Stake to Vector
-------------------------------------------
The Australian Gas Light Company (AGL) announced it has entered
into a sale and purchase agreement with New Zealand energy
company Vector for its 66.05 percent shareholding in NGC
Holdings Ltd (NGC).

The sale will deliver AGL net proceeds of approximately AU$760
million, expected by the end of the calendar year. The sale
price is NZ$3.00 per share which is in line with the average
share price for NGC over the last three months. It also
represents a 15 per cent premium to NGC's share price at the
time the company announced in April it was considering merger
opportunities.

"The sale to Vector delivers a favorable outcome for AGL
shareholders further enabling AGL to pursue attractive growth
opportunities and optimize the company's capital structure," AGL
Managing Director Greg Martin said.

"As previously indicated to the market, the proceeds from this
transaction are being incorporated into AGL's consideration of
these two key areas."

Mr. Martin added that important considerations in AGL's decision
to accept Vector's offer were the final purchase price per
share, the nature of the offer structure itself and the minimal
number of conditions. In addition, the offer will provide
minority shareholders with an opportunity to participate on the
same terms as AGL.

Mr. Martin said AGL's decision to sell its NGC shareholding
brings to an end a successful 12-year association with the New
Zealand energy sector.

"Over the past 12 years AGL has developed a good understanding
of the New Zealand energy market and it remains a market in
which AGL would consider future investment should attractive
opportunities become available," Mr Martin concluded.

Further Inquiries:

John Short
General Manager, External Affairs
(02) 9921 2336
0402 060 528

Jane Counsel
Media Relations Manager
(02) 9921 2352
0416 275 273

CONTACT:

The Australian Gas Light Company
AGL Centre
Cnr Pacific Highway and Walker Street
North Sydney NSW 2060
Telephone: (02) 9922 0101
Fax: (02) 9957 3671
Web site: http://www.agl.com.au/


AUSTRALIAN GAS: To Hold General Meeting October 19
--------------------------------------------------
The Annual General Meeting (AGM) of Australian Gas Light Company
will be held on Tuesday, October 19, 2004. The location of the
meeting is still to be arranged.

The ASA representative attending the meeting will be Australian
Shareholders' Association who will be voting undirected proxies
according to the indications made below. You can appoint
"Australian Shareholders' Association" or "Australian
Shareholders' Association" as your proxy and if an address is
required use PO Box 519, CHATSWOOD NSW 2057.

Please do NOT send your proxy form to the ASA but after
completion lodge it in accordance with the instructions shown on
the form itself.

The Australian Shareholders' Association will indicate its
voting intentions shortly.


AUSTRALIAN WORK: Receivers and Managers Appointed
-------------------------------------------------
Bibby Financial Services Australia Pty. Ltd. A.C.N. 101 657 041
gave notice that on the 31st day of August 2004, it appointed
Bruno A. Secatore and Stirling L. Horne of Bentleys MRI, 114
William Street, Melbourne as Receivers and Managers of the
property of Australian Work Force Pty. Ltd., being the property
specified in the Schedule under the powers obtained in an
instrument dated 16th day of September 2003 Registered No.
982594 in the Australian Register of Company Charges being:

SCHEDULE

All the property, whether real or personal, of Australian Work
Force which is charged or otherwise encumbered under the Charge,
including but not limited to:

(1) All debts owed to Australian Work Force;

(2) Any other present or future entitlements which Australian
Work Force may have whether contractual or otherwise to issue a
claim or demand or to raise a Tax Invoice or Tax Invoices to any
person, corporation or entity by reason whereof a debt may
become payable to Australian Work Force by such person,
corporation or entity;

(3) All plant and equipment;

(4) All other fixed assets; and

(5) All other assets and property whether real or personal,
which are the subject of the Charge.

Dated this 6th day of September 2004

For and on behalf of Bibby Financial Services
Australia Pty. Ltd.


BROUGHAM HOLDINGS: Final Meeting Set October 19
-----------------------------------------------
Notice is given that a Final Meeting of the members of Brougham
Holdings Pty Ltd (In Liquidation) will be held at Level 6, 161
Collins Street, Melbourne on 19 October 2004 at 10:45 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

G.M. Rambaldi
Liquidator
Pitcher Partners
Level 6, 161 Collins Street,
Melbourne Vic 3000
Telephone: (03) 9289 9814


CASCADE AUSTRALIA: To Convene Final Meeting on October 19
---------------------------------------------------------
Notice is given that a final meeting of the members and
creditors of Cascade Australia (Qld) Pty Ltd (In Liquidation)
will be held at PPB Chartered Accountants, Level 4, 31 Sherwood
Road, Toowong at 10:00 a.m. on Tuesday, 19 October 2004.

The purpose of the meeting is to:

(a) Show the manner in which the property of the company has
been disposed of;

(b) Lay the accounts before the meeting;

(c) Hearing any explanation that may be given by the Liquidator;
and

(d) Approve the destruction of the books and records of the
company upon approval by the Australian Securities and
Investment Commission.

Dated this 2nd day of September 2004

Andrew Fielding
Liquidator
PPB Chartered Accountants & Business
Reconstruction Specialists
Level 4, 31 Sherwood Road,
Toowong Qld 4066


CHISHOLM TRANSPORT: Members Resolve Voluntary Winding Up
--------------------------------------------------------
Notice is hereby given that at the extraordinary general
meetings of the members of Chisholm Transport Pty. Ltd. (In
Liquidation) held on the 1st day of September 2004 it was
resolved that the companies be wound up voluntarily and at the
meetings of creditors held later the same day it was resolved
that Victor Raymond Dye and Roger Darren Grant,
Registered Liquidators, both of Suite 8 260 Auburn Road,
Hawthorn 3122 be appointed joint and several liquidators.

Dated this 1st day of September 2004

V.R. Dye
R.D. Grant
Joint & Several Liquidators
Dye & Rennie
Chartered Accountants
Suite 8, 260 Auburn Road, Hawthorn 3122


COMINDICO AUSTRALIA: ACCC Seeks Response on Competition Issues
--------------------------------------------------------------
The Australian Competition and Consumer Commission (ACCC) has
requested several telcos to identify potential competition
issues should collapsed Comindico Australia be purchased by a
major carrier, says The Age.

The competition regulator is already seeking market response
should any major telecommunications firms express interest in
acquiring the network. The firms are given until Wednesday to
submit their responses.

But the answer seems obvious. Telco giants Optus and Telstar
should not be allowed to purchase Comindico.

"We certainly have concerns about the ultimate ownership of the
asset," said the national regulatory manager for Macquarie
Corporate Telecommunications, Matt Healy.

"If we see a next-generation network fall into the hands of the
incumbent operators it would amount to an increase in
concentration of network ownership, which would be to the
detriment of consumers," he said.

According to another telco executive, the assets would be
useless to Optus or Telstar other than to remove a potential
competitor.

But despite remaining mum on the Comindico sale, industry
sources have confirmed both companies are eying the failed telco
intently.

Last month, rumors about Telstra's interest have emerged when
Comindico's major creditor, Cisco Systems, rejected a rescue
plan and instead, placed Comindico into receivership without
explanation.

Comindico was considered a showcase for Cisco's technology, with
the vendor providing up to $175 million in financing. Another
$220 million in equity funding was provided by Kerry Packer's
CPH, Rupert Murdoch's Queensland Press, JPMorgan's private
equity arm, AMP and Australian Gas Light Co.

Comindico's receivers, Murray Smith and Tony McGrath of
McGrathNicol+Partners, are expected to finalize a list of
potential buyers on Friday.

CONTACT:

Comindico Australia Pty Ltd.
Level 15, 201 Kent Street
Sydney NSW 2000
Australia

GPO Box N800 Grosvenor Place
NSW 1220
Australia

Telephone: +61 2 8220 6000
Fax: +61 2 9252 6864


DJ HIGGINS: Final Meeting Slated for October 14
-----------------------------------------------
Notice is hereby given that the final meeting of Members and
Creditors of DJ Higgins Pty Limited (In Liquidation) will be
held at the office of Ferrier Hodgson, Chartered Accountants,
Level 1, 121-123 Crown Street, Wollongong, New South Wales on 14
October 2004 at 10:00 a.m.

The purpose of the meeting is to:

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

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

Dated this 1st day of September 2004

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


ENNISKILLEN PTY: Voluntarily Winds Up
-------------------------------------
At an Extraordinary General Meeting of Enniskillen (Vic) Pty Ltd
(In Members' Voluntary Liquidation) held on 30 August 2004, the
company's members resolved to wind up the company voluntarily
and to appoint Guy Edwards and John Georgakis of Ernst & Young,
Level 27, 120 Collins Street, Melbourne Victoria 3000 as
Liquidators of the company.

Guy Edwards
Liquidator
Enniskillen (Vic) Pty Ltd (in liquidation)
Ernst & Young
Level 27, 120 Collins Street,
Melbourne Vic 3000
Telephone: 03 9288 8000


GLOBAL TECHNICAL: Receiver and Manager Named
--------------------------------------------
National Australia Bank Limited A.C.N. 004 044 937 of 24th
Floor, 500 Bourke Street, Melbourne gave notice that on the 20th
of August, 2004 it appointed Ken Sellers and Matthew Muldoon of
Sims Partners Level 2, 446 Collins Street, Melbourne Victoria as
Receiver and Manager of the property of Global Technical
Services Pty, being the property specified in the Schedule under
the powers contained in an instrument dated the 8th August 2002
being a Debenture registered in Melbourne pursuant to subsection
272(3) of the Corporations Law and being registered number
885758.

SCHEDULE

All of the property and assets of Global Technical Services Pty
Ltd A.C.N. 084 150 381 whatsoever and wheresoever both present
and future including the goodwill of its business and its called
but unpaid and uncalled capital for the time being.

Dated this 1st day of September 2004

Jonothan Glenn Sennitt
Attorney


GREEN PLASTIC: Sets October 20 as Date of Final Meeting
-------------------------------------------------------
Notice is given that a final meeting of members and creditors of
Green Plastic Pty Ltd (In Liquidation) Trading As Pizza Haven
Ipswich will be held at the offices of PPB Chartered
Accountants, Level 4, 31 Sherwood Road, Toowong at 10:00 a.m. on
Wednesday, 20 October 2004.

The purpose of the meeting is to:

(a) Show the manner in which the property of the company has
been disposed of;

(b) Lay the accounts before the meeting;

(c) Hearing any explanation that may be given by the Liquidator;
and

(d) Approve the destruction of the books and records of the
company upon approval by the Australian Securities and
Investment Commission.

Dated this 2nd day of September 2004

Andrew Fielding
Liquidator
PPB Chartered Accountants & Business
Reconstruction Specialists
Level 4, 31 Sherwood Road,
Toowong Qld 4066
Telephone: (07) 3371 7244,
Facsimile: (07) 3371 7311


HANDLINE PTY: Bibby Financial Appoints Receivers, Managers
----------------------------------------------------------
Bibby Financial Services Australia Pty. Ltd. A.C.N. 101 657 041
gave notice that on the 31st day of August 2004, it appointed
Bruno A. Secatore and Stirling L. Horne of Bentleys MRI, 114
William Street, Melbourne as Receivers and Managers of the
property of Handline Pty. Ltd., being the property specified in
the Schedule under the powers obtained in an instrument dated
19th day of March 2004 Registered No. 103571 in the Australian
Register of Company Charges being:

SCHEDULE

All the property, whether real or personal, of Handline which is
charged or otherwise encumbered under the Charge, including but
not limited to:

(1) All debts owed to Handline;

(2) Any other present or future entitlements which Handline may
have whether contractual or otherwise to issue a claim or demand
or to raise a Tax Invoice or Tax Invoices to any person,
corporation or entity by reason whereof a debt may become
payable to Handline by such person, corporation or entity;

(3) All plant and equipment;

(4) All other fixed assets; and

(5) All other assets and property whether real or personal,
which are the subject of the Charge.

Dated this 3rd day of September 2004

For and on behalf of Bibby Financial Services
Australia Pty. Ltd.


JAMES HARDIE: NSW Government Moves to Take Legal Action
-------------------------------------------------------
The NSW Government has received legal advice that it has the
power to file contempt of court suit against embattled James
Hardie Industries, related The Australian.

The Crown solicitor had advised the Government it was entitled
to conduct legal action against the asbestos products
manufacturer and its legal counsel.

Attorney General Bob Debus confirmed Friday the Crown solicitor
was given the task to review all available evidence to determine
whether contempt could be proven and whether James Hardie's
lawyers should be sent to the Legal Services Commissioner for
professional misconduct.

Mr. Debus said the Government would push ahead with a
prosecution if there were sufficient evidence.

"I do not expect to receive final advice on these matters for
many weeks but we will certainly prosecute if we are advised
that there is sufficient evidence," he added.

The advice follows the inquiry carried out by Commissioner David
Jackson into the underfunding of James Hardie's asbestos
liabilities.

The inquiry found that the lawyers from Allens Artur Robinson,
who represented James Hardie, had deliberately concealed from
the NSW Supreme Court important information regarding the
funding in 2001 when it transferred to the Netherlands.

The lawyers also told the court that James Hardie would leave
AU$1.9 billion in partly paid shares, which were later cancelled
without the court being informed.

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 ROLFE: Creditors Final Meeting Set October 22
---------------------------------------------------
Notice is given that the final meeting of the creditors of James
Rolfe Transport (Vic) Pty Ltd (In Liquidation) will be held at
the offices of SimsPartners, Level 2, 446 Collins Street,
Melbourne on 22 October 2004 at 9:00 a.m.

AGENDA

(1) To consider the report by the Liquidators.
(2) Any other business that may be lawfully brought forward.

Dated this 1st day of September 2004

Mathew Muldoon
Joint and Several Liquidator


KASEBTA PTY: Final Meeting Scheduled October 27
-----------------------------------------------
Notice is hereby given that a final meeting of the members of
Kasebta Pty. Ltd. (In Voluntary Liquidation) will be held at the
Rose & Crown Hotel, 309 Bay Street, Port Melbourne in the State
of Victoria, on the 27th of October 2004 at 12:00 noon.

AGENDA

To receive the Liquidator's accounts showing how the winding up
was conducted and the property of the company disposed of, and
explanations thereof in pursuance of Section 509 of the
Corporations Law.

Dated this 3rd day of September 2004

Pauline J. Bidwell
Liquidator
PO Box 322, North Melbourne
Vic 3051
Telephone: 03 9329 0274


KINDRED CLEANING: To Declare Final Dividend on October 15
---------------------------------------------------------
A first and final dividend is to be declared on the 15th of
October 2004 in respect of Kindred Cleaning Services Pty Ltd (In
Liquidation).

Creditors whose debts or claims have not already been admitted
are required on or before the 12th of October 2004 to formally
prove their debts or claims. In default, they will be excluded
from the benefit of the dividend.

Dated this 2nd day of September 2004

G.S. Andrews
Liquidator
G S Andrews & Assocs
22 Drummond Street, Carlton Vic 3053
Telephone: (03) 9662 2666,
Facsimile: (03) 9662 9544


MACPATTON PTY: To Face Voluntary Winding Up Process
---------------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of members of Macpatton Pty Ltd (In Liquidation) held on 31
August 2004, it was resolved that the company be wound up
voluntarily and at a meeting of creditors held on the same day
it was resolved that for such purpose, Robert Molesworth Hobill
Cole of Cole Downey & Co, Chartered Accountants, Unit 2, 6
Moorabool Street, Geelong Vic 3220 be appointed Liquidator.

Robert M.H. Cole
Liquidator
Cole Downey & Co
Chartered Accountants
Unit 2, 6 Moorabool Street,
Geelong Vic 3220


VILLAGE ROADSHOW: Shareholders Endorse On-market Shares Buyback
---------------------------------------------------------------
Village Roadshow Limited announced that shareholders at the
General Meeting on Friday, October 2004 have passed the
resolution to approve the on-market buy-back of up to 43 million
ordinary shares. The meeting was chaired by independent director
Peter Jonson.

The buy-back was approved by a majority of shareholders other
than Village Roadshow Corporation Limited (VRC)(the Company's
majority shareholder controlled by executive directors Robert
Kirby, John Kirby and Graham Burke) and its associates.

This demonstrates the support of the non-VRC shareholders for
the Company's capital management objectives.

As advised in the Booklet convening the General Meeting, the
Company will make an announcement to ASX prior to commencing any
buy-back of ordinary shares authorized by the resolution.

The Company has received from the Company's Share Registry,
Computershare Investor Services Pty Ltd, confirmation of the
numbers and percentages in respect of the poll conducted on the
resolution voted on at the General Meeting.

To view the full release, click on:
http://bankrupt.com/misc/TCRAP_VILLAGEROADSHOW101104.pdf

CONTACT:

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


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C H I N A  &  H O N G  K O N G
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CHINA GAS: Grants Options to Two Directors
------------------------------------------
China Gas Holdings Limited posted grant options at the Hong Kong
Stock Exchange on October 11, 2004, to two of its directors,
namely Mr. Xu and Mr. Liu.

Mr. Xu was granted 90,000,000 options while Mr. Liu was given
130,000,000 options.

To view the entire document click on the link below:
http://bankrupt.com/misc/chinaholdingslimited2.pdf


CHINA GAS: Carries Out Capital Restructuring
--------------------------------------------
China Gas Holdings Limited released an announcement on October
10, 2004 at the Hong Kong Stock Exchange the restructuring of
US$7,000,000 capital and the amendments in terms of the
outstanding bonds in the principal amount of US$3,500,000.

To view the entire document click on the link below:
http://bankrupt.com/misc/chinagasholdingslimited.pdf


LEABURG ENGINEERING: Liquidators Appointed
------------------------------------------
By order of the High Court of the Hong Kong Special
Administrative Region dated the 6th day of September 2004,
Cosimo Borrelli and Stephen Briscoe of RSM Nelson Wheeler
Corporate Advisory Services Limited, 7th Floor, Allied Kajima
Building, 138 Gloucester Road, Wanchai, Hong Kong have been
appointed as Joint and Several Liquidators of Leaburg
Engineering Limited (in Compulsory Liquidation) with a committee
of inspection.

Dated this 8th day of October 2004.

Cosimo Borrelli
Stephen Briscoe
Joint and Several Liquidators
Leaburg Engineering Limited

This Quamnet notice is dated October 8, 2004.


SK GLOBAL: Creditors Must Prove Claims by October 29
----------------------------------------------------
Notice is hereby given that the Creditors of SK Global Hong Kong
Limited, which is in voluntarily liquidation, are required on or
before the 29th day of October 2004 to send their names,
addresses and descriptions, full particulars of their debts or
claims, as well as the names and addresses of their solicitors
(if any) to the undersigned.

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

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

Dated this 8th day of October 2004

Yim Chi Po, Brian
Joint and Several Liquidator
Room 3108 Lippo Centre
Tower 1, 89 Queensway
Hong Kong


SMARTFAIR CORPORATION: Undergoes Winding Up Proceedings
-------------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Smartfair Corporation Limited by the High Court of Hong Kong
Special Administrative Region was on the 2nd day of September
2004 presented to the said Court by the Government Property
Agency of Hong Kong of 31st Floor, Revenue Tower, 5 Gloucester
Road, Wanchai, Hong Kong.

The said Petition will be heard before the Court at 9:30 am on
the 20th day of October 2004.

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

Gregory Payne
Government Counsel
Counsel for the Petitioner
Department of Justice
2nd Floor, High Block
Queensway Government Offices
66 Queensway, Hong Kong

Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention to do so.  The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the above named not
later than six o'clock in the afternoon of the 19th day of
October 2004.


VOLUMES COMPANY: Creditors Given Until November 1 to Prove Debts
----------------------------------------------------------------
Notice is hereby given that the Creditors of Volumes Company
Limited, which is in voluntary liquidation, are required on or
before 5:00 p.m. on the 1st day of November 2004 to send their
names, addresses and descriptions, full particulars of their
debts or claims, as well as the names and addresses of their
solicitors (if any) to the undersigned.

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

In default thereof, they will be deemed to waive all of such
debts or claims and the liquidators will be entitled seven days
after the above date, to distribute the funds available or any
part thereof to the Members.

Dated this 30th day of September 2004

Ip Hon Kin
Liquidator
23th Floor, K. Wah Centre
191 Java Road, North Point
Hong Kong


WEI TAK: Court To Hear Winding Up Petition
------------------------------------------
Notice is hereby given that a Petition for the Winding up Wei
Tak Limited by the High Court of Hong Kong Special
Administrative Region was on the 8th day of September 2004
present to the said Court by Bank of China (Hong Kong) Limited
whose registered office is situated at 14th Floor, Bank of China
Tower, 1 Garden Road, Hong Kong.

The said Petition will be heard before the Court at 9:30 a.m. on
the 27th day of October 2004.

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

Ford, Kwan & Company
Solicitors for the Petitioner
Rooms 1202-1206, 12th Floor, Wheelock House
20 Pedder Street
Central, Hong Kong

Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention to do so.  The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the above named not
later than six o'clock in the afternoon of the 26th day of
October 2004.


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


BANK PERMATA: Standard Chartered Wins Bid for 51% Stake
-------------------------------------------------------
A consortium led by Standard Chartered PLC has been selected as
the preferred bidder to acquire a 51-percent controlling stake
in PT Bank Permata, Dow Jones says.

The US$305 million (IDR2.77 trillion) bid, in partnership with
PT Astra International, will give Standard Chartered majority
control of Permata.

London-based Standard Chartered beat offers by the Malayan
Banking Bhd, Malaysia's Bumiputra-Commerce Bank Bhd, and a
consortium of Australia and New Zealand Banking Group and PT
Bank Pan Indonesia.

The winning bid was well above the US$250 million book value and
valued Bank Permata more highly than Indonesian banks have sold
in the past.

Bank Permata is the seventh largest bank in Indonesia by assets
and branches. It has 310 branches, a million customers and
assets of US$3.2 billion.

CONTACT:

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


DIRGANTARA INDONESIA: IDB Vows to Infuse Funds
----------------------------------------------
The Islamic Development Bank has pledged to infuse fresh funds
into struggling airplane maker PT Dirgantara Indonesia, reports
The Jakarta Post.

IDB, which has already sent a mission from Jeddah head office to
Dirngantara's Bandung facility, will issue Islamic bonds to
allow Dirgantara to fulfill a purchase order from British
Aerospace and Boeing for aircraft components.

The plan to provide monetary assistance for the state-owned
aerospace firm was made during last month's meeting between
Minister of Industry and Trade Rini MS Soewandi and IDB
president Ahmad Mohamed Ali in Saudi Arabia. The visit was part
of a feasibility study to determine whether or not Dirgantara
was bankable.

Should IDB consider the project viable, the bank would offer
around US$15 million to US$60 million in Islamic bonds to the
international market to raise the funds needed by Dirgantara.

Dirgantara, which was set up by former president Soeharto in the
1970s despite strong opposition from many economists at the
time, has found difficulties in selling its airplanes forcing
the state to use taxpayers' money to help sustain its operations
for around 27 years. But after the late 1990s economic crisis,
the government decided to lay off thousands of Dirgantara's
employees as part of the company's restructuring program.

Analysts believe that Dirgantara's component manufacturing unit
could still be rescued because it is still commercially viable
as evident from the purchase order made by Boeing and British
Aerospace.

The Islamic Development Bank was established in 1973 by the
member countries of the Organization of the Islamic Conference
(OIC). It was set up to foster economic development and social
progress in member countries and Muslim communities worldwide
based on the principle of sharia.

CONTACT:

Pt Dirgantara Indonesia
Jl. Pajajaran no. 154 Bandung 40174,
Indonesia
Phone: 62-22-6034562, 62-22-6010754, 62-22-6010759
Fax: 62-22-6019538, 62-22-6075671, 62-22-6031696
E-mail: infosales@indonesian-aerospace.com


GARUDA INDONESIA: Backs Planned Abolition of Departure Tax
----------------------------------------------------------
PT Garuda Indonesia supports the state's plan to scrap departure
tax on Indonesians traveling abroad next year, Asia Pulse says.

According to the national flag carrier's Commercial Director
Bachrul Hakim, the departure tax is an extra burden for
travelers leaving Indonesia.

The government has imposed an IDR1 million (US$11) departure tax
for a traveler from Indonesia in order to discourage Indonesians
from leaving the country.

Garuda hopes to benefit from the policy as the departure tax
removal is expected to boost the number of Indonesians traveling
abroad.

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


PERTAMINA: Pledges to Secure Fuel Supply Before Ramadhan
--------------------------------------------------------
State oil and gas firm PT Pertamina vows to boost fuel stockpile
in order to safeguard fuel prices ahead of the Muslim's fasting
month of Ramadhan, during which fuel demand increases, The
Jakarta Post relates.

The manager of Pertamina's Marketing Unit III has ensured fuel
availability in the market despite the expected raise in
consumption.

Securing domestic fuel supply during Ramadhan is crucial to
avoid interruption in goods distribution and transportation,
helping curb inflation, which traditionally skyrockets during
the festivity.

Indonesia, which imports oil-based oil products at high
international market prices, sells fuel locally at subsidized
prices under the existing fuel subsidy policy.

However, the policy has received criticisms that car-owners and
not the poor enjoy a large portion of the subsidized fuels. In
fact, studies revealed that of the subsidized fuel commodities,
only kerosene serves the interest of the lower class.

For 2004 alone, the government has to allocate IDR59.2 trillion
for fuel subsidy, around 2.5 times of this year's IDR24.4
trillion state budget deficit.

But newly elected President Susilo Bambang Yudhoyono said his
government would consider a change in the existing policy to a
more focused and pro-poor scheme.

CONTACT:

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


* HIPMI Raises Doubts Over Divestment of State Assets
-----------------------------------------------------
The Association of Young Indonesian Businessmen (HIPMI) has
called on the new administration under Susilo Bambang Yudhonoyo
and Jusuf Kalla to review the divestment of assets carried out
by the previous government, Asia Pulse reports.

HIPMI spokesman Bambang Soesatyo said the large-scale selling of
state assets had enabled black-listed conglomerates to regain
their properties, the collateral on their debts to the state.

According to Mr. Bambang, the conglomerates were now again
controlling 100 per cent of their assets, previously seized by
the government.

Therefore, he said, HIPMI was urging the new president and vice-
president to appoint capable and professional persons as cabinet
members.


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


DAIEI INCORPORATED: Decides Against IRCJ Support, Says Kunio
------------------------------------------------------------
Struggling retail giant Daiei Incorporated is unlikely to seek
support from state-backed Industrial Revitalization Corporation
of Japan, reports Kyodo News.

Daiei President Kunio Takagi told the industry minister Shoichi
Nakagawa in a meeting held Sunday that the major retailer will
not request for IRCJ's involvement in its restructuring.

Meanwhile, sources said three groups of companies, which have
offered to sponsor Daiei's rehabilitation, have begun final
talks toward forming a giant single team.

The three groups to be integrated are the alliance of Deutsche
Securities Ltd., Japanese trading house Marubeni Corp. and U.S.
investment fund Cerberus Group, that of Goldman Sachs Group Inc.
and Wal-Mart Stores Inc., and that of U.S. investment fund
Ripplewood Holdings LLC and Mitsubishi Estate Co.

The single team, which is expected to emerge as the leading
player in Daiei's revival, plans to seek partial IRCJ support
mainly by having the state-backed turnaround body to take over
Daiei's debts to financial institutions other than the
retailer's three main lenders UFJ Bank, Sumitomo Mitsui Banking
Corp. and Mizuho Corporate Bank.

However, Daiei is intent on reviving itself under its own scheme
based on IRCJ's asset appraisal and choose companies that will
help it with the plan.

In a letter sent last week, the IRCJ notified Daiei that it has
until today to decide whether or not to accept IRCJ's support.

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


MITSUBISHI FUSO: DaimlerChrysler To Take Charge for Recalls
-----------------------------------------------------------
Mitsubishi Fuso Truck and Bus Corporation (MFTBC), a company in
which DaimlerChrysler owns a majority holding, has drawn up a
preliminary evaluation of the expenses required for quality-
enhancing measures and recall campaigns.

The extraordinary impact on the operating profit of the
Commercial Vehicles Division of around ER400 million (US$492
million) in the third quarter of 2004 can be more than
compensated for by the very positive trend in the results of the
other business units within the Commercial Vehicles Division.

DaimlerChrysler therefore continues to expect the operating
profit of the Commercial Vehicles Division for the year 2004
will clearly exceed last year's results, despite the
extraordinary earnings impact.

With the support of DaimlerChrysler, the German-Japanese
management of MFTBC is currently pressing ahead with a rapid and
all-encompassing business renewal at the company. MFTBC
announced in June 2004, that it would systematically disclose
and rectify mistakes made in the past, after the company's new
quality management system and thorough investigations had
brought to light numerous cover-ups dating from the time before
DaimlerChrysler's acquisition of a holding in Mitsubishi Motors
Corporation (MMC). As a result, several recall campaigns were
launched, that to date have involved some 525,000 vehicles in
Japan, some of them several times.

In accordance with the shareholding structure, DaimlerChrysler
will have to bear 65 percent of the costs being incurred by
MFTBC; the remaining 35 percent being borne by the minority
shareholders of MFTBC. For DaimlerChrysler, this results in an
extraordinary impact of around ER400 million for the operating
profit of the Commercial Vehicles Division in the third quarter
of 2004. In addition to that, ER70 million had already been
accrued and impacted operating profit in the second quarter of
2004. Furthermore, accruals not affecting the operating result
are being set up within the framework of the first time
consolidation of MFTBC.

MFTBC was a corporate unit of MMC before DaimlerChrysler
acquired a 43 percent holding in March 2003. On the basis of the
underlying contracts and this preliminary evaluation of the
situation at MFTBC, DaimlerChrysler is investigating the
relevance and extent of bringing forward a claim against MMC.

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


SOJITZ HOLDINGS: Determines Terms of Preferred Stocks, CBs
----------------------------------------------------------
Sojitz Holdings Corporation (Sojitz Holdings) announced in a
press release that the terms of preferred stocks and convertible
bonds (CBs) were determined on Thursday, October 7, 2004.

The preferred stocks and convertible bonds were resolved to be
issued at the meeting of Board of Directors held on September
29, 2004.

To view the full release, click on:
http://bankrupt.com/misc/TCRAP_SOJITZHOLDINGS101104.pdf

CONTACT:

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


UFJ HOLDINGS: Submits Improvement Report to TSE
-----------------------------------------------
UFJ Holdings, Inc. (UFJ) announced that it submitted the
'Improvement Report' to Tokyo Stock Exchange, Inc (TSE) on
Friday, contents of which are described below.

TSE has requested UFJ submit a report based upon the Rules on
Timely Disclosure of Corporate Information by Issuer of Listed
Security and the Like.

- Contents of the Improvement Report

The facts, background and measures for improvement regarding the
matter that the earnings announcement by UFJ on May 24, 2004 was
substantially different from the revised forecasts announced on
April 28, 2004.

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: Launches Roadshow to Brief Funds on MTFG Deal
-----------------------------------------------------------
UFJ Holdings Incorporated launched a roadshow yesterday to
address institutional investor concerns over its upcoming merger
with Mitsubishi Tokyo Financial group (MTFG), AFX News relates,
citing Financial Times.

Investor relations officials will travel to orient the non-
Japanese funds and major UFJ shareholders on the merger deal,
and clarify any concerns regarding UFJ's decision to reject a
rival bid from Sumitomo Mitsui Financial Group (SMFG).

Officials will travel to Edinburgh, Frankfurt, Amsterdam and the
West Coast of the US. President and Chief Executive Ryosuke
Tamakoshi will join them for the London, Boston and New York
legs of the roadshow.

According to sources, large shareholders are concerned about the
rejection of the SMFG bid and the agreement to an MTFG merger
without an agreed valuation to govern a merger ratio.

Fidelity Investments, Capital Research Management, and Sovereign
Asset Management are among UFJ's largest shareholders.


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


KOOKMIN BANK: Committee Selects Candidate for New CEO
-----------------------------------------------------
Kookmin Bank's presidential recommendation committee announced
Friday that it has chosen Kang Chung-Won to replace the
company's incumbent president, reports Asia Pulse.

Mr. Kang has worked for foreign lenders such as Citibank and
Deutsche Bank before heading Seoul Bank from 2000 to 2002.  The
selection of Mr. Kang requires the approval of the shareholder's
meeting on October 29, while the bank's incumbent president Kim
Jung-Tae will step down on October 31.

The announcement of the final candidate was made earlier than
expected. The 11-member committee was supposed to announce the
chosen candidate Monday.

A new head for Kookmin Bank is needed because Mr. Kim was barred
from seeking another term as a result of a disciplinary warning
from Financial Supervisory Service (FSS) early September.  The
FSS held Mr. Kim responsible for the bank's accounting
irregularities in 2003.

CONTACT:

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


* Debts of State-Invested Firms Rise Almost 4%
----------------------------------------------
The Ministry of Finance and Economy announced on Monday that
state-invested corporations' debts has risen nearly four percent
in the first half from six months earlier, according to Asia
Pulse, citing Yonhap News.

The 32 corporations has KRW207.7 trillion (US$180.5 billion) in
liabilities as of June this year, up 3.8 percent from the end of
last year, the highest level since 1998 with KRW216.58 trillion
during the same period.

The largest amount of debt was incurred by Korea Electric Power
Corp. (KEPCO) amounting to KRW19.55 trillion, followed by Korea
Housing Corp. with KRW13.69 trillion, Korea Highway Corp. with
KRW14.67 trillion, Korea First Bank with KRW12.08 trillion, and
Korea Export-Import Bank with KRW8.95 trillion.

Debts held by the corporations have been on a steady rise,
reaching KRW183.42 trillion in 2002 and KRW200.06 trillion in
2003.


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


ACTACORP HOLDINGS: SC Rejects Appeal on Restructuring Scheme
------------------------------------------------------------
In relation to the Proposed Restructuring Scheme of Actacorp
Holdings Berhad (AHB), the Securities Commission (SC), via its
letter dated 4 August 2004 (which was received on 7 October
2004) informed that it has considered the appeal to reconsider
its decision of rejecting the Proposed Restructuring Scheme of
the company, as per the SC's letter dated 3 August 2004.

The SC stated the justifications presented under the appeal do
not satisfactorily address the concerns raised by the SC on the
Proposed Restructuring Scheme of AHB. Therefore the SC has not
approved the appeal on the Proposed Restructuring Scheme of AHB.

Following the abovementioned decision by the SC, the Board of
Directors of AHB is presently deliberating on the next course of
actions to be taken. The Company shall announce any further
development in due course.

CONTACT:

Actacorp Holdings Berhad
Jalan 3/76D Desa Pandan
Kuala Lumpur, Selangor 55100
Malaysia
Telephone: +60 3 9282 1388
Telephone: +60 3 9284 7133

This announcement is dated 8 September 2004.


ANCOM BERHAD: Releases Shares Buy Back Notice
---------------------------------------------
Ancom Berhad announced the details of its shares buy back on
October 10, 2004.

Date of buy back: 08/10/2004

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

Total number of shares purchased (units): 21,500

Minimum price paid for each share purchased (RM): 0.790

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

Number of shares purchased retained in treasury (units): 21,500

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

Cumulative net outstanding treasury shares as at to-date
(units): 5,082,200

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

CONTACT:

Ancom Berhad
Level 14, Uptown 1
No. 1 Jalan SS21/58
Damansara Uptown
47400 Petaling Jaya
Selangor
Telephone: 03-77252888
Fax: 03-77257791
Web site: http://www.ancom.com.my


BUKIT KATIL: Clarifies Unaudited Financial Results
--------------------------------------------------
Pursuant to Paragraph 9.19 (34) of the Listing Requirements of
Bursa Malaysia Securities Berhad, the Board of Directors of
Bukit Katil Resources Berhad (BKATIL) announced the following
deviations in the amended unaudited results released on 13th
September 2004 compared to the audited results released on 30th
September 2004:
                     Unaudited          Audited
Variance
                      RM'000            RM'000           RM'000

Loss after taxation   28,829            35,251           6,422
and minority interest

The above variance is due to additional provision for impairment
losses provided in accordance with MASB 23: Impairment of assets
in respect of an interest in a joint venture as recommended by
the Company's Auditors.

CONTACT:

Bukit Katil Resources Berhad
Damasara Town Centre
Jalan Damanlela Pusat Bandar Damansara, Damansara Heights, Kuala
Lumpur 50490 MALAYSIA
Telephone: +60 3 2095 7077
Telephone: +60 3 2094 9940


CONSOLIDATED FARMS: Issues Practice No. 1/2001 Update
-----------------------------------------------------
Further to the monthly status announcement under Practice Note
No. 1/2001 on 4 October 2004, Consolidated Farms Berhad
announced that the Group is unable to pay the additional
principal and/or interest in respect of its credit facilities as
set out in Table 1.

The Company and its financial advisors, Deloitte Corporate
Solutions Sdn Bhd (formerly known as Deloitte KassimChan
Business Services Sdn Bhd), have met with the respective lenders
to apprise them on Confarm Group's current financial condition
and have sought their indulgence and consideration to provide a
standstill period in respect of the Group's credit facilities
for it to carry out a financial review and, if appropriate,
formulate a restructuring/workout scheme.

Table 1

Additional Amount of Principal and/or Interest Due from 1
October 2004 to 8 October 2004

Lender       Borrower      Additional           Type of
                           Amount Due           Facilities
                         from 1 Oct 2004
                         to Oct 2004 (RM000)

Bank Pertanian Confarm      258.0               Term Loan (TL)
Malaysia (BPM)

Malayan Banking Confarm     229.6               TL
Berhad

BPM          Consolidated   42.4                TL
          Organic Fertiliser
            Sdn Bhd

BPM          Consolidated
          Liquid Eggs Sdn Bhd  37.0             TL

Total                          567.0

Note: The above figures are based on the respective companies'
records and exclude any penalty interest that may be charged by
the respective lenders.

CONTACT:

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

This announcement is dated 8 October 2004.


FFM BERHAD: Bursa Malaysia To Delist Securities
-----------------------------------------------
The entire issued and paid-up ordinary shares of FFM Berhad
(FFM) will be removed from the Official List of Bursa Securities
with effect from 9 a.m., Thursday, 14 October 2004 pursuant to
paragraph 16.09(c) of the Listing Requirements of the Bursa
Malaysia Securities Berhad.

CONTACT:

FFM Berhad
16th Floor, Wisma Jerneh
38 Jalan Sultan Ismail
50250 Kuala Lumpur, Malaysia
Web site: http://www.ffmb.com.my


GULA PERAK: To List 17,000 New Ordinary Shares
----------------------------------------------
Gula Perak Berhad's additional 17,000 new ordinary shares of
RM1.00 each issued pursuant to the conversion of 17,000
irredeemable convertible secured loan stocks 2000/2005 into
17,000 new ordinary shares will be granted listing and quotation
with effect from 9.00 a.m., Wednesday, 13 October 2004.

CONTACT:

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


KUMPULAN JAPAY: Faces Winding Up Petition
-----------------------------------------
Harrisons Holdings (Malaysia) Berhad announced that the High
Court of Malaya has on the 6 October 2004 decided to:

1) Dismiss Zaitun Marketing Sdn Bhd's application to intervene
in Harrisons Trading (Peninsular) Sdn Bhd's petition to wind-up
Kumpulan Japay Pemasaran Sdn Bhd (KJP) with costs; and

2) Made an order to wind-up KJP with costs.

This announcement is dated 8 October 2004.


NORTH BORNEO: Posts Litigation Update
-------------------------------------
The Board of Directors of the North Borneo Corporation Berhad
announced that Messrs Dorairaj, Low & Teh, the Solicitors acting
for Malaysian International Merchant Bankers Berhad (MIMB) had
served a copy of the Writ of Summons dated 2 September 2004 on
the Company as first Defendant and Seatex Plantations Sdn Bhd as
second Defendant for the sum of RM426,207.00 together with
interest thereon at 10% per annum from payment due date to full
settlement date in respect of the professional services rendered
for corporate exercise (Original Scheme) involving the two
Defendants.

The Company is in the midst of negotiations with MIMB to
restructure and/or to reach an amicable settlement of the said
claims. The Company had also appointed a lawyer to defend the
case.

This announcement is dated 8 October 2004.


SETEGAP BERHAD: Seeks New Corporate Adviser
-------------------------------------------
The Board of Directors Setegap Berhad announced that it is in
the midst of finalizing the terms of appointing a new corporate
adviser and an announcement will be made upon appointment of the
said new adviser.

In this respect, Setegap is unable to submit the said
application to the Securities Commission within the earlier
stipulated period of one month from 10 September 2004. The
timing to submission will be decided upon after the appointment
of a new adviser and will be announced in due course.

The proposed fund raising & settlement exercises as follows:

Proposed Paving Plant And Processes (M) Sdn Bhd Transactions;
Proposed Issuance Of Iculs To Subsidiaries;
Proposed Restricted Office For Sales;
Proposed Settlement To Creditors; And
Proposed Increase In Authorized Share Capital

This announcement is dated 8 October 2004.


TENAGA NASIONAL: Issues Books Closure Notice
--------------------------------------------
Tenaga Nasional Berhad disclosed to the Bursa Malaysia
Securities Berhad a notice of its Book Closure relating to its
first interest payment of the 3.05% per annum for 5 year
Unsecured Convertible Redeemable Income Securities 2004-2009
(CRIS) for the period from 11 May 2004 to 9 November 2004.

Kindly be advised of the following:

1) The above Company's securities will be traded and quoted (Ex
- Interest) as from: (28 October 2004)

2) The last date of lodgment: (1 November 2004)

3) Date Payable: (10 November 2004)

CONTACT:

Tenaga Nasional Berhad
129 Jalan Bangsar
Kuala Lumpur, 59200
Malaysia
+60 3 2296 5566
+60 3 2283 3686


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


COLLEGE ASSURANCE: SEC Seeks New Committee to Monitor Finances
--------------------------------------------------------------
The Securities and Exchange Commission (SEC) plans to appoint a
new committee that will monitor the financial condition of
College Assurance Plan Philippines Inc. (CAP), the Philippine
Star reports.

At present, there is only one person overseeing CAP's trust fund
build-up since the two other persons that were part of an
oversight committee created by the SEC early this year had
decided to take on other jobs or responsibilities.

The oversight committee shall make sure that CAP maintains low
operating expenses and properly contributes to its trust fund.

CAP reported a PhP17-billion deficiency in its trust assets in
late 2003. During the period, CAP had PhP8.4 billion in trust
assets, compared with an actuarial reserve liability (ARL), or
projected future obligations, of PhP25.5 billion.

CONTACT:

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


MANILA ELECTRIC: ERC OKs Cross Subsidy Removal For Customers
------------------------------------------------------------
The Energy Regulatory Commission (ERC) approved in its regular
Commission meeting on October 4, 2004 the removal of inter-class
cross-subsidies for customers of Manila Electric Co. (Meralco),
the ERC reported on its Web site.

The removal will take two phases beginning in October 2004 when
forty percent (40%) of the subsidies will be removed and in
October 2005 when the remaining sixty percent (60%) will be
taken out.

The initial removal of 40% cross-subsidy, which will be
effective October 2004 will result in the reduction of rate to
large non-industrial service commercial customers of
Php0.2783/kWh and extra large industrial service customers by
Php0.2522/kWh. Php0.2312/kWh will also reduce medium non-
industrial service commercial customers' rates; small non-
industrial services customers by Php0.1266/kWh, large industrial
service customers by Php0.1095/kWh and medium industrial service
customers by Php0.0357/kWh. Residential and general service
customers' rates, on the other hand, will increase by
Php0.2852/kWh, small industrial customers by Php0.4062/kwh and
government hospitals by Php0.4356/kwh.

The remaining 60% cross-subsidy shall be removed commencing
October 2005. The reduction in rate will be Php0.4175/kWh for
large non-industrial service commercial customers, Php0.3784/kWh
for extra large industrial service customers, Php0.3468/kwh for
medium non-industrial service commercial customers,
Php0.1899/kWh for small non-industrial services customers,
Php0.1643/kWh for large industrial service customers, and
Php0.0535/kWh for medium industrial service customers. The rate
of residential and general service customers consuming more than
100kWh per month will go up by Php0.4278/kWh while that of small
industrial customers and government hospitals will adjust upward
by Php0.6093/kWh and Php0.6533/kWh, respectively.

Commercial and industrial customers shoulder the Php0.7130/kWh
inter-class cross subsidy that is currently enjoyed by
residential customers.

"This means that the residential customers are paying less than
the electricity they are using while commercial and industrial
customers are paying more for their power service than the
actual cost to serve them. The removal will make commercial and
industrial customers more competitive. Moreover, the Electric
Power Industry Reform Act (EPIRA) requires the removal of the
rate relief," ERC Chairman Rodolfo B. Albano, Jr. explained.

"It is expected that industries will be able to pass-on the
savings from lower electricity bill to residential customers in
the form of lower product and service prices. Export-oriented
industries will be able to expand capacities and generate more
jobs in the process. Dollar inflows will also be increased and
will contribute to a healthier economy," the ERC chief added.

Pursuant to Sec. 73 of R.A. 9136 (EPIRA), cross subsidies shall
be phased-out in a period not exceeding three (3) years from the
establishment by the ERC of a universal charge. Cross subsidies
exist within a grid, between grids and between classes of
customers. These are the: (1) Inter-Grid Cross Subsidy which is
charged to customers located in viable regional grid to reduce
rates in less viable regional grid; (2) Intra-Regional Grid
Cross Subsidy which is charged to utilities with higher load
factor and/or delivery voltage to reduce rates of utilities with
lower load factor or delivery voltage located in the same
regional grid; (3) Inter-Class Cross Subsidy which is charged to
industrial and commercial end-users to reduce rates of
residential end users, hospitals and streetlights; and (4)
Lifeline Subsidy which is charged to all classes of customers to
reduce rates of marginalized/low-income captive market end-users
who cannot afford to pay at full cost.

The ERC, in NPC's unbundling decision last June 26, 2002 already
phased-out the inter-grid cross subsidy. The intra-grid cross
subsidy, on the other hand, is being removed in three (3)
stages: 1st stage was in October 2003 billing (1/3 removal), 2nd
stage on October 2004 billing (2/3 removal) and 3rd stage on
October 2005 billing (complete removal). Moreover, the
Commission is in the process of removing the inter-class cross
subsidy. In fact, a total of seventy (70) electric cooperatives
and two (2) private utilities were already ordered to implement
the removal of inter-class cross subsidy in various phases.

The lifeline subsidy, a subsidy being enjoyed by electricity
users below the threshold set by ERC, however, is exempt from
the phase out for a period of 10 years pursuant to Sec. 73 of
the EPIRA. This means that for Meralco customers, residential
end-users consuming less than 50 kwh, 51-70 kwh and 71-100 kwh
will still be given 50%, 35% and 20% discounts (on generation,
transmission, distribution, supply, metering and systems loss),
respectively.

"Rest assured that all decisions of the Commission are within
the mandate of the law. We are also doing our best to balance
the interests of consumers and other players in the industry",
the Chief Regulator commented.

CONTACT:

Manila Electric Co.
Lopez Building
Ortigas Avenue, Pasig City
Telephone Numbers:  16220 (TL); 633-4553 (Corp. Sec.)
Fax Number:  631-5572
e-mail Address: corcom@meralco.com.ph
Web site: http://www.meralco.com.ph


METRO PACIFIC: Clarifies "Transco Fetches US$3.4B Offer" Report
----------------------------------------------------------------
This is in reference to the news article entitled "Transco
fetches indicative offers of up to $3.4 billion" published in
the October 8, 2004 issue of The Philippine Star (Internet
Edition).

The article reported that "(C)onglomerates SMC and First
Pacific's local unit Metro Pacific earlier confirmed The STAR's
report that they are likely to participate in the privatization
of Transco. According to sources, the two local groups are
looking at pouring in capital in the transmission company as
part of their respective diversification programs. Sources said
the groups are willing to invest up to $500 million to the
transmission firm. Sources said First Pacific may have been
considering to invest in Transco to complement its fiber optic
business."

Metro Pacific Corporation (MPC), in its letter to the Philippine
Stock Exchange dated October 8, 2004, stated that:

"Metro Pacific Corporation has not, to date, been party to any
transaction relating to the privatization of National
Transmission Company."

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

CONTACT:

Metro Pacific Corporation
10/F, MGO Building
Legaspi cor. Dela Rosa Sts., 0721 Makati City
Tel. No:  888-0888 to 92
Fax No:  888-0813/0830
E-mail Address: metro@metropacific.com
Web site: http://www.metropacific.com
Auditor:  SyCip, Gorres, Velayo & Company
Transfer Agent:  Stock Transfer Service, Inc.


NATIONAL POWER: Posts Php13.3B Savings in 2003
----------------------------------------------
State-owned National Power Corporation (Napocor) announced it
has incurred total savings of PhP13.34 billion in 2003 from
cost-cuts, the Business World reports.

Napocor showed the biggest savings among government firms,
accounting for some PhP6.76 billion, which came from the
prioritization of projects with respect to its capital
expenditures. The reduction of operating expenses, meanwhile,
resulted in PhP1.93 billion in savings for 2003.

Other measures include the continued use of cheaper power
plants, cutting the work force to 3,700 in 2003 from more than
8,000 in 2001, and the use of cheaper Indonesian and local coal
for coal-fired power plants.

Napocor said savings from these measures were as follows:

PhP1.13 billion from the e-bidding system;
PhP854 million from the use of cheaper plants; and
PhP752 million from the reduction in Napocor personnel.

The state firm said it had saved PhP240 million from the use of
cheaper Indonesian coal and another PhP220 million from the use
of cheaper local coal.

CONTACT:

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


NATIONAL STEEL: Wants to Settle Obligations in 5 Years
------------------------------------------------------
Instead of the three-year limit earlier proposed, the National
Steel Corporation (NSC), now Global Steelworks International
Inc. (GSII) wants to settle its financial obligations to the
National Power Corporation (Napocor) in five years, the Manila
Times reports.

The NSC reportedly emphasized it cannot settle its power debts
in just three years as it also has other financial obligations,
including those with its creditor banks.

To date, the NSC's accounts payable with Napocor stands at
Php352 million covering the principal and the accumulated
interests. Napocor and the Liquidator's Office have not approved
the proposal yet.

CONTACT:

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


NEGROS NAVIGATION: Clarifies "Court Orders CEO to Retire" News
--------------------------------------------------------------
This is in reference to the following news articles published in
the October 8, 2004 issue of the BusinessWorld (Internet
Edition):

a) "Court to Nenaco: Fire CEO or rehab will be junked"

The article reported "(a) Manila court yesterday ordered Negros
Navigation Co. (Nenaco) to replace President and Chief Executive
Sulficio Tagud Jr. if it wants to continue its corporate
rehabilitation.

In an order, Manila Regional Trial Court Judge Artemio S. Tipon
directed the shipping arm of listed Metro Pacific Corp. to elect
three new directors to its board to represent secured and
unsecured creditors.

`In choosing the directors to be replaced, priority must be
given to Sulficio Tagud, Jr.,' Mr. Tipon said.

Mr. Tagud refused to comment on the court order. The judge said
failure of Nenaco to abide by the order by Monday will terminate
the rehabilitation case.

`Should petition (sic) fail to comply with this order within the
non-extendible period, the rehabilitation plan shall be ipso
factor (sic) [automatically] considered disapproved and the stay
order recalled and set aside,' he added.

The stay order refers to the debt payment suspension that Mr.
Tipon granted Nenaco shortly after it filed the corporate
recovery suit at the Manila court.

Last Monday, the tribunal said three directors representing
secured creditors Development Bank of the Philippines (DBP) and
Pilipinas Shell Petroleum Corp. and unsecured lenders must be
included in the Nenaco board.

Thereafter, DBP nominated Senior Vice-President Renato A.
Castillo while Shell nominated Wellington Q. Aldemita. Unsecured
creditors bat for lawyer Arlyn C. Soresca of Unique Machine Shop
as its representative."

b) "As shipping firm forecasts PhP400M in losses this year"

The article reported that "(d)ebt-saddled Negros Navigation Co.
(Nenaco) is looking at another year of losses as it prepares for
the first year of its rehabilitation program.

Sulficio Tagud Jr., president, said net losses this year may
reach up to PhP400 million, from last year's PhP8.2-million
loss.

`This year I think we will have a significant net loss of
between PhP350 million to PhP400 million.' He said the 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."

Negros Navigation Co., Inc. (NN), in its letter to the
Philippine Stock Exchange dated October 11, 2004, advised that:

" With regard to the article entitled `Court to Nenaco: Fire CEO
or rehab will be junked', the same is based on the Order dated
October 7, 2004 of Judge Artermio Tipon, presiding judge of the
Regional Trial Court of Manila, Branch 46, a photocopy of which
is attached for your ready reference. Please note that the
title/caption and the first paragraph of the said article does
not reflect or faithfully summarize the tenor or exact wording
of the said order.

With regard to the article entitled `as shipping firm forecasts
Php400M in losses this year', we confirm the same because it
quotes our President and Chief Executive Officer, Mr. Sulficio
O. Tagud, Jr., who made the said statements on our forecasted
losses for the next year based on our current operations
performance and the fact that some of our shipping vessels are
currently being repaired."

For your information.
MA. PAMELA D. QUIZON-LABAYEN
Head, Disclosure Department

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


PHILIPPINE LONG: Discloses Additional Listing of Shares
-------------------------------------------------------
The Philippine Stock Exchange approved on June 14, 2000, the
application submitted by Philippine Long Distance Telephone
Company to list additional 1,289,745 common shares, with a par
value of P5.00 per share, to cover the Executive Stock Option
Plan (ESOP) of the Company, at an exercise price of Php814.00
per share.

In this connection, a total of 7,375 common shares have been
availed of and fully paid by the optionees under the Company's
ESOP. In view thereof, the listing of the 7,375 common shares is
set for Monday, October 11, 2004. This brings the number of
common shares listed under the ESOP to a total of 287,275 common
shares.

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

For your information and guidance.
MARIA ISABEL T. GARCIA
Head, Listings Department
Noted by:
JURISITA M. QUINTOS
Senior Vice President- Operations Group

CONTACT:

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


PHILIPPINE REALTY: Court of Appeals Reverses RTC Ruling
-------------------------------------------------------
The Philippine Stock Exchange disclosed that in the court case
"Ley Construction and Development Corp. (LCDC) vs. Philippine
Realty and Holdings Corp", the Court of Appeals reversed and set
aside a Regional Trial Court decision ordering Philrealty to pay
LCDC the total amount of Php62.180 million for construction
projects Tektite Tower I and The Alexandra Clusters B, C, and E.

In its decision, the Court of Appeals ordered LCDC to pay
Philrealty the net amount of Php3.748 million.

Truly yours,
AMADOR C. BACANI
President
Philippine Realty & Holdings Corp.

CONTACT:

Philippine Realty & Holdings Corporation
3/F Magnitude Building
186 E. Rodriguez, Jr. Avenue
Libis, Quezon City
Tel. No:  631-3179 to 80
Fax No:  634-1504
E-mail Address:  philrltv@info.com.ph
Auditor:  C.L. Manabat & Company
Transfer Agent:  Fidelity Stock Transfer, Inc.


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


OPTICS STORAGE: Faces Winding Up Proceedings
--------------------------------------------
Notice is hereby given that a petition for winding up of Optics
Storage Pte Ltd by the High Court was, on the 20th day of
September 2004, presented by Koninklijke Philips Electronics
N.V., a creditor.

The petition will be heard before the Court sitting at the High
Court of Singapore at 10:00 a.m. 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 at Groenewoudseweg 1, 5621 BA
Eindhoven, The Netherlands.

The Petitioner's solicitors are Messrs Shook Lin & Bok of 1
Robinson Road #18-00, AIA Tower, Singapore 048542.

Messrs Shook Lin & Bok
Solicitors for the Petitioners

Note: Any person who intends to appear at the hearing of the
petition must serve on or send by post to the Petitioner's
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, 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 12 o'clock noon of
the 14th day of October 2004.

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


SEMICONDUCTOR ALLIANCE: Creditors to Prove Debts by November 8
--------------------------------------------------------------
Notice is hereby given that the Creditors of Semiconductor
Alliance Pte Ltd, which is being wound up voluntarily, are
required on or before the 8th of November 2004, to send in their
names and addresses and the particulars of their debts or claims
and the names and addresses of their solicitors (if any) to the
undersigned, the Liquidators of the Company.

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

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

Chia Soo Hien
Ng Geok Mui
Liquidators
c/o BDO International
5 Shenton Way
#07-00 UIC Building
Singapore 068808

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


TOTOKU SINGAPORE: Creditors Must Submit Claims by November 8
------------------------------------------------------------
Notice is hereby given that the creditors of Totoku Singapore
Pte Ltd, which is being wound up voluntarily, are required on or
before the 8th day of November 2004 to send in their names and
addresses and particulars of their debts or claims, and the
names and addresses of their solicitors (if any) to the
undersigned, the liquidator of the said Company.

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

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

Lai Seng Kwoon
Liquidator
c/o 16 Raffles Quay
#22-00 Hong Leong Building
Singapore 048581

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


UNITED ASIA: Enters Winding Up Proceedings
------------------------------------------
Notice is hereby given that the creditors of United Asia
Technologies Pte Ltd, which is being wound up voluntarily, are
required on or before the 15th day of November 2004 to send in
their names and addresses and particulars of their debts or
claims and the names and addresses of their solicitors (if any)
to the undersigned, the Liquidators of the said Company.

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

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

Tan Choon Chye
Mrs. LOW nee TAN LENG FONG
Tan Shou Chieh
Liquidators
c/o Singapore Secretarial Services Co. (Pte.)
6001 Beach Road
#12-01 & #12-11 Golden Mile Tower
Singapore 199589.

This Singapore Government Gazette notice is dated October 8,
2004


WAM!NET SINGAPORE: Posts Extraordinary General Meeting Results
--------------------------------------------------------------
At an Extraordinary General Meeting of Wam!Net Singapore Pte Ltd
Duly convened and held at 39 Robinson Road, #07-01 Robinson
Point, Singapore 068911, on the 29th of September 2004 at 10:00
a.m., the following resolutions were duly passed:

Special Resolution

(a) Resolved that the Company be wound up voluntarily pursuant
to section 290 (1) (b) of The Companies Act, Cap. 50.

Ordinary Resolutions Resolved:

(b) That Mr. Kon Yin Tong, Mr. Wong Kian Kok and Mr. William
Caven Hutchison of Foo Kon Tan Grant Thornton be and are hereby
appointed liquidators, jointly and severally, for the purpose of
the winding up.

(c) That the liquidators be remunerated for the work of winding
up the Company on their normal scale of professional fees.

Special Resolution

(d) That the liquidators be empowered to exercise any of the
powers given by sub-sections of (1) and (2) of section 272 of
the Companies Act, Cap. 50 and to distribute to members in
specie any part of the assets of the Company.

Patrick Teo Chong Nghee
Director

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


WEE POH: Issues Clarifying Statement
------------------------------------
Wee Poh Holdings Limited released a statement at the Singapore
Stock Exchange on October 9, 2004.

Further to Wee Poh Holdings Limited's announcement of the 7th of
October 2004, the company clarified that W&P Piling Pte Ltd is
in liquidation currently and has been deconsolidated from the
Wee Poh Group since 16 May 2003. Hence it is not a subsidiary of
the Company as at the date of announcement.

WPP is involved in the restructuring plan of the Company only to
the extent of its bank loan, which is guaranteed by the Company.
The Company has reached agreement via Letters of Offer from the
various banks dated 1 September 2004 and 13 September 2004 to
repay the bank loan with a combination of cash and loans to
equity-conversion, details of which have been announced
previously by the Company on 27 September 2004.

Submitted by:
Chan Wang Kin
Managing Director


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


T.C.J. ASIA: Details Progress of Business Reorganization
--------------------------------------------------------
T.C.J. Asia PLC (TCJ) reported to the Stock Exchange of Thailand
the progress of its Business Reorganization for 6 months ended
September 30, 2004.

(1) On September 27, 2004 T.C.J has submitted to the Central
Bankruptcy Court a request for capital increase to invest in new
business, which the court has granted the permission on October
7, 2004.  After such investment, which is expected to be
completed within November 2004, TCJ will submit to the Court a
request for Termination of Business Reorganization as the
implementation of the Plan has been completed.

(2) For the performance, TCJ has net profit for 2 quarters
consecutively amounting to THB23.95 million.

Please be informed accordingly.

Yours Faithfully,
Srivilai Chatjuthamard
Plan Administrator

CONTACT:

T.C.J. Asia Pcl
89/169 Moo 7, Vibhavadi Rangsit Road,
Don Muang Bangkok
Telephone: 0-2552-6611, 0-2552-6622
Fax: 0-2552-7185-6
Web site: www.tcj.co.th


T.C.J. ASIA: CBC Approves Business Reorganization Plan
------------------------------------------------------
T.C.J. Asia Public Company Limited (TCJ) informed the Stock
Exchange of Thailand that on October 7, 2004, the Central
Bankruptcy Court has granted the following orders:

(1) To approve TCJ to implement the Business Reorganization Plan
by investing in Toyo Millennium Co. Ltd. (TOYO). TOYO is engaged
in the manufacturing of construction material in stainless steel
product for selling in domestic and oversea market.  The
stainless steel products are used in construction project, house
decoration, other industries such as Food Industry and
Pharmaceutical Industry.  TCJ will hold at least 51 percent of
the total registered and paid-up capital of TOYO.

Thus, TCJ will purchase TOYO's ordinary share of 1,632,000
shares (par value of THB100 per share) from Sunrife Enterprises
Pte. Ltd (SUNRIFE) at THB203.50 per share with the total amount
of THB332,112,000 (Three Hundred Thirty Two Million One Hundred
and Twelve Thousand Baht).

In addition, TCJ has the option to purchase more ordinary shares
of TOYO from Sunrife for 768,000 shares or 24 percent in order
to have the stake control totally 75 percent of total ordinary
shares of TOYO.

(2) To approve TCJ to increase the registered capital of
THB334,500,000 by issuing 33,450,000 new ordinary shares at par
value of THB10 to all the existing shareholders at the ratio 2
existing shares for 3 new shares with offering price of THB10
per share and any fraction of a share in proportion to their
shareholding shall be disregarded.

In case, there is any shares unsubscribed after the above
allotment, the Plan Administrator is authorized to consider
allocation of the unsubscribed portion to the existing
shareholders who have expressed their intention to subscribe for
additional shares, exceeding their rights by Pro Rata Basis.

The decision will be considered from the total of unsubscribed
portion shares and the total shares of those existing
shareholders who subscribed in excess of their rights.

In the case there is still any shares unsubscribed after the
above allotment, the Plan Administrator may offer the
unsubscribe portion shares through private placement. The Plan
Administrator is authorized to consider the offering price, the
period of offering, terms and conditions, and any other related
details regarding the allocation, altogether with deciding the
market price according to the Notification of the Securities and
Exchange Commission, which is related to the issue.

(3) To approve TCJ to amend the Article 4 of the Memorandum of
Association to be consistent with the details of the capital
increase.

Article 4

Registered Capital: THB557,500,000 (Five Hundred Fifty Seven
Million and Five Hundred Thousand Baht)

Divided into: 55,750,000 shares (Fifty Five Million Seven
Hundred and Fifty Thousand shares)

Par value: THB10 (Ten Baht) per share Consisting of

Ordinary shares: 55,750,000 shares (Fifty Five Million Seven
Hundred and Fifty Thousand shares)

Preferred shares: -- shares

Therefore, TCJ will determine the date for closing the
shareholders' register book on October 22, 2004 at noon in order
to have the final list of shareholders who have the right in the
share allotment.

Please be informed accordingly.

Yours faithfully,
Srivilai Chatjuthamard
Plan Administrator


T.C.J. ASIA: Discloses Process of Capital Increase
--------------------------------------------------
T.C.J. Asia Public Company Limited (TCJ), reported to the Stock
Exchange of Thailand the process of the increase of registered
capital and the allotment of shares as approved by the order of
the Central Bankruptcy Court given on October 7, 2004, the
following are the details:

(1) Increase of registered capital:

The Central Bankruptcy Court has granted an order for increasing
TCJ's registered capital from THB223,000,000 to THB557,500,000
by issuing 33,450,000 new ordinary shares with the par value of
THB10 each, totaling THB334,500,000.

(2) Allotment of new shares

The Central Bankruptcy Court has granted an order for allotment
of 33,450,000 new ordinary shares with the par value of THB10
each, totaling THB334,500,000 as follows:

(2.1) Details of allotment

Allotted  Number    Ratio    Price    Subscription   Notes
to       (shares)(old : new) per      and payment
                   (Baht)    share    period

All
existing  33,450,000   2:3    10       8-12       The Plan
shareholders           for all        November    Administrator
                       Existing          2004     shall
                       Shareholders               determine
                       held as of                 details and
                       October 22,                conditions
                       2004                       regarding
                                                  the offer
                                                  of newly
                                                  issued      \
                                                  shares.

(2.2) In case that there is a fraction of shares remaining:

To be cancelled

(2.3) Unallocated Shares- None

(3) Schedule for Shareholders' Meeting to Approve the Capital
Increase/Allotment- None

(4) Approval of the capital increase / share allotment by
relevant governmental agency and conditions thereto ( if any )

On October 7, 2004, the Central Bankruptcy Court issued an order
approving the capital increase and the share allotment to
existing shareholders.

(5) Objectives of the capital increase and plans for utilizing
proceeds received from the capital increase.

To invest in Toyo Millennium Co., Ltd. according to the Business
Reorganization Plan

(6) Benefits which the Company will receive from the capital
increase/share allotment:

To generate more income and increase the strong financial
statement

(7) Benefits which the shareholders will receive from the
capital increase/share allotment:

(7.1) Dividend policy

The Company has a policy to pay dividends at approximately 50%
of the net profit after tax deduction, if there is no other
necessary and the said dividend payment does not materially
affect the normal operation of the Company.

(7.2) Subscribers of new share issued for this capital increase
will be entitled to receive dividends from the Company's
business starting from the fiscal year 2004 onwards.

(7.3) Others

(8) Other details necessary for shareholders to approve the
capital increase/share allotment: None

(9) Schedules of action where the board of directors of the
Company passes a resolution approving the capital increase or
allotment of new shares: None

The Company hereby certifies that the information contained in
this report form is true and complete in all respects.

Signature
(Ms. Srivilai Chatjuthamard)
Plan Administrator



* BOND PRICING: For the Week 11 October to 15 October 2004
----------------------------------------------------------

Issuer                            Coupon   Maturity  Price
------                            ------   --------  -----


AUSTRALIA
---------

Advantage Group                      10.000%     4/15/06    1
Amcom Telecommunications Ltd         10.000%    10/28/07    2
Amity Oil Ltd.                       10.000%    10/31/13    2
APN News & Media Ltd                  7.250%    10/31/08    5
Austrim National Radiation Ltd.       9.500%    10/31/04   61
BIL Finance Ltd                       8.000%    10/15/07    9
BIL Finance Ltd                       8.250%    10/15/04    9
BIL Finance Ltd                       8.750%    10/15/04   10
BIL Finance Ltd                       8.750%    10/15/05    9
BIL Finance Ltd                       9.000%    10/15/04    9
BIL Finance Ltd                       9.250%    10/15/06    9
BIL Finance Ltd                      10.000%    10/15/04   10
Capital Properties NZ Ltd             8.500%     4/15/05    7
Capital Properties NZ Ltd             8.500%     4/15/07    9
Capital Properties NZ Ltd             8.500%     4/15/09    9
Citigold Corp.                       12.000%     3/29/07    1
Consolidated Minerals Ltd            11.250%     3/31/05    2
Djerriwarrh Investments Ltd           6.500%     9/30/09    4
Evans & Tate Ltd                      8.250%    10/29/07    1
Fletcher Building Ltd                 7.900%    10/31/06    8
Fletcher Building Ltd                 8.300%    10/31/06    8
Fletcher Building Ltd                 8.600%     3/15/08    8
Fletcher Building Ltd                 8.750%     3/15/06    8
Fletcher Building Ltd                 8.850%     3/15/10    8
Fletcher Building Ltd                10.500%     4/30/05    8
Fernz Corp Ltd                        8.560%    10/15/06    8
Futuris Corporation Ltd               7.000%    12/31/07    2
Gympie Gold Ltd.                      8.500%     9/30/07    1
Hy-Fi Securities Ltd                  7.000%     8/15/08    9
Hy-Fi Securities Ltd                  8.750%     8/15/08   12
Hutchison Telecoms Australia          5.500%     7/12/07    1
Infrastructure and Utility            8.500%     9/15/13    8
NPT Capital Ltd                       9.500%    11/30/04   10
Nuplex Industries Ltd                 9.300%     9/15/07    8
Powerco Ltd                           8.150%      9/1/07    8
Powerco Ltd                           8.400%     5/22/07   10
Richmond Ltd                         10.750%    12/15/04   10
Salomon Smith Barney Australia        4.250%      2/1/09    9
Sapphire Securities                   7.410%     9/20/35    7
Sapphire Securities                   9.160%     9/20/35    9
Sapphire Securities                   9.250%    12/20/06    9
Sky Network Television Ltd            9.300%    10/29/49    8
Software of Excellence                7.000%     8/09/07    2
Strathfield Group                    11.000%    12/31/05    1
Structural Systems Ltd               11.000%     6/30/07    1
Sydney Gas Company                   12.000%     4/1/06     1
Tower Finance Ltd                     8.650%    10/15/09    9
Tower Finance Ltd                     8.750%    10/15/07    8
TrustPower Ltd                        8.300%     9/15/07    8
TrustPower Ltd                        8.500%     9/15/12    8
TrustPower Ltd                        8.500%     3/15/14    8
Urbus Properties Ltd                  9.250%     3/10/07    1
Vision Systems Ltd                    9.000%    12/15/08    2


CHINA
-----

China Government Bond                  2.600%    9/20/17    75
China Government Bond                  2.900%    5/24/32    63


KOREA
-----

Korea Electric Power Corporation       7.950%       4/1/96   66


MALAYSIA
--------

Asian Pac Holdings Bhd                 4.000%     12/22/05    1
Artwright Holdings Bhd                 5.500%      3/05/07    1
Berjaya Group Bhd                      5.000%     10/17/09    1
Berjaya Land Bhd                       5.000%     12/30/09    1
Berjaya Sports Toto Bhd                8.000%      8/04/12    4
Camerlin Group Bhd                     5.500%      7/15/07    1
Crescendo Corporation Bhd              3.000%      8/25/07    1
Dataprep Holdings Bhd                  4.000%       8/5/05    1
Dataprep Holdings Bhd                  4.000%       8/6/07    1
Eden Enterprises (M) Bhd               2.500%      12/2/07    1
Fountain View Development Sdn Bhd      3.500%      11/3/06    5
Furqan Business Organization           2.000%     12/19/05    1
Gadang Holdings Bhd                    2.000%     12/24/08    1
Grand Central Enterprises Bhd          5.000%      2/17/05    1
Greatpac Holdings Bhd                  2.000%     12/11/08    1
Gula Perak Bhd                         6.000%      4/23/08    1
Hong Leong Industries Bhd              4.000%      6/28/07    1
I-Bhd                                  5.000%      4/30/07    1
Insas Bhd                              8.000%      4/19/09    1
Integrax Bhd                           3.000%     12/24/05    1
Killinghall Bhd                        5.000%      4/13/09    1
Kretam Holdings Bhd                    1.000%      8/10/10    1
Kumpulan Emas Bhd                      7.000%     11/15/04    1
Kumpulan Jetson                        5.000%     11/28/12    1
LBS Bina Group Bhd                     4.000%     12/31/06    1
LBS Bina Group Bhd                     4.000%     12/31/07    1
LBS Bina Group Bhd                     4.000%     12/31/08    1
Lebar Daun Bhd                         2.000%       1/6/07    4
Lion Diversified Holdings Bhd          2.000%       6/1/09    1
Media Prima Bhd                        2.000%      7/18/08    1
Mithril Bhd                            3.000%       4/5/12    1
Mithril Bhd                            8.000%       4/5/09    1
Mutiara Goodyear Development Bhd       2.500%      1/15/07    1
Naim Indah Corporation                 0.500%      8/24/06    1
NAM Fatt Corporation Bhd               2.000%      6/24/11    1
Orlando Holdings Bhd                   3.000%      3/16/05    1
OSK Holdings Bhd                       3.500%       3/1/05    1
OSK Holdings Bhd                       6.000%       3/1/05    1
Patimas Computer Bhd                   6.000%      2/19/06    1
Poh Kong Holdings                      3.000%      1/20/07    1
Prinsiptek Corporation Bhd             2.000%     11/20/06    1
Puncak Niaga Holdings Bhd              2.500%     11/20/16    1
POS Malaysia & Services Holdings Bhd   8.000%     11/26/04    1
Rashid Hussain Bhd                     0.500%     12/23/12    1
Rashid Hussain Bhd                     3.000%     12/23/12    1
Rhythm Consolidated Bhd                5.000%     12/17/08    1
Silver Bird Group Bhd                  1.000%      2/15/09    1
Southern Steel Bhd                     5.500%      7/31/08    2
Tanah Emas Corporation Bhd             2.000%      12/9/06    1
Talam Corporation Bhd                  7.000%      7/19/05    1
Talam Corporation Bhd                  7.000%      4/19/06    1
Tap Resources Bhd                      2.000%      6/29/06    1
Tenaga Nasional Bhd                    3.050%      5/10/09    1
Time Engineering Bhd                   2.000%     12/25/05    1
VTI Vintage Bhd                        4.000%      8/22/06    1
Wah Seong Corp                         3.000%      5/21/12    3
Yu Neh Huat Bhd                        3.000%       9/2/08    1


SINGAPORE
---------

CSC Holdings Ltd                       6.500%      4/27/05    1
Rabobank Singapore                     1.000%      1/15/13   73
Sengkang Mall                          8.000%     11/20/12    1
Tampines Assets Ltd                    5.625%      12/7/06    1
Tampines Assets Ltd                    6.000%      12/7/06    1
Tincel Ltd                             5.000%      6/13/11    1
Tincel Ltd                             7.400%      6/13/11    1



                            *********


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

Troubled Company Reporter -- Asia Pacific is a daily newsletter
co-published by Bankruptcy Creditors' Service, Inc., Trenton, NJ
USA, and Beard Group, Inc., Frederick, Maryland USA. Lyndsey
Resnick, Ma. Cristina Pernites-Lao, Faith Marie Bacatan, Reiza
Dejito, Peachy Clare Arreglo, Editors.

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

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without
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contained herein is obtained from sources believed to be
reliable, but is not guaranteed.

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delivered via e-mail. Additional e-mail subscriptions for
members of the same firm for the term of the initial
subscription or balance thereof are $25 each.  For subscription
information, contact Christopher Beard at 240/629-3300.

                 *** End of Transmission ***