TCRAP_Public/041019.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 19, 2004, Vol. 7, No. 207

                            Headlines

A U S T R A L I A

AADB PTY LIMITED: Voluntarily Winds Up
ACCESS BROKERAGE: Liquidators Seek Unpaid Clients
ALTEON WEBSYSTEMS: To Face Voluntary Winding Up Proceedings
AQUASHELL PTY: To Hold Final Meeting on October 20
CHICO FIX: Sets October 29 as Date of Meeting

COLONIAL FIRST: Final Meeting Slated for October 20
COLONIAL PCA: Final Meeting Set October 20
COMINDICO AUSTRALIA: Dodo Pledges Support as Sale is Finalized
D'URSO HOMES: To Undergo Winding Up Proceedings
GLOBAL SDR: Court Appoints Provisional Liquidator

LAING INVESTMENTS: Final Meeting Slated for October 21
LEDRON PTY: Members Resolve to Voluntarily Wind Up
MACKEY EQUIPMENT: Names Anthony M. Long as Liquidator
M.&E. SILBERBACH: To Enter Winding Up Proceedings
MIRAGE TRAVEL: Winds Up Voluntarily

NATIONAL AUSTRALIA: National Pool Best Option in Wheat Market
NEON ENGINEERS: To Hold Joint Meeting on October 22
QANTAS AIRWAYS: Backs LAX Master Plan
SANTOS LIMITED: Forms Joint Exploration Venture with Mitsui
SANTOS LIMITED: Strikes Oil, Gas in East Java

SPARAD NO.30: Sets Final Meeting on October 20
TYN ELECTRONICS: Appoints Michael John Morris as Liquidator


C H I N A  &  H O N G  K O N G

GHIASPEED MOTORS: To Receive Dividend Proofs by October 30
HONGKONG CONSTRUCTION: Annual Meetings Set October 26
TRUMP GOLD: Court To Hear Application by Liquidator
WELTIN INVESTMENTS: Winding Up Hearing Slated for November 17
WINGKASON BROTHERS: Court To Hear Bankruptcy Petition

WING WAH: To Undergo Winding Up Proceedings
WORLDER SHIPPING: Faces Winding Up Proceedings
YICK HOST: Court Set to Hear Winding Up Petition November 3
* Four Major Banks in Need of Revamp


I N D O N E S I A

DIRGANTARA INDONESIA: To Secure US$50-Mln IDB Loan
SEMEN GRESIK: To Stop Product Exports Next Year


J A P A N

DAIEI INCORPORATED: 1H Net Profit Dives 49%
DAIEI INCORPORATED: Chief Takagi Steps Down
ISHIKAWAJIMA-HARIMA HEAVY: R&I Puts Rating on Monitor
MITSUBISHI FUSO: Govt To Order Truck Owners to Fix Their Cars
MITSUBISHI MOTORS: Unveils 2005 Model Lineup

UFJ HOLDINGS: Sumitomo Set To File Suit Over Merger with MTFG
UFJ HOLDINGS: Offers Free Withdrawal Services at All ATMs, CDs


K O R E A

KOOKMIN BANK: Accounts for 31.7% of Complaints Filed
SSANGYONG MOTOR: Union Set to Ink Agreement with SAIC


M A L A Y S I A

ANCOM BERHAD: Issues Shares Buy Back Notice
AYER HITAM: Lenders Reject Unit's Request for Further Indulgence
FABER GROUP: Wants To Exit Local Hotel Business
FABER GROUP: Posts Additional Listing of Shares
FARLIM GROUP: Receives Financial Assistance

KSU HOLDINGS: Releases Litigation Update
MWE HOLDINGS: Ends Association With Subsidiary
OCEAN CAPITAL: Unit Shuts Down Business Operations
OILCORP BERHAD: Completes Shares Sale Agreement
PANTAI HOLDINGS: Purchases 16,900 Ordinary Shares on Buy Back

PSC INDUSTRIES: Terminates Debt Purchase Deal
TALAM CORPORATION: Resells, Cancels Treasury Shares
TRU-TECH HOLDINGS: Issues Default Status Update
* Corporate Litigation Conference Set December 8


P H I L I P P I N E S

COLLEGE ASSURANCE: SEC Rejects Appointment of Investor
COLLEGE ASSURANCE: CAP Technically Insolvent, Says New SEC Chief
COLLEGE ASSURANCE: Questions SEC Refund Order
NATIONAL STEEL: Indian Steel Giant Completes Takeover
NEGROS NAVIGATION: Sets Tender Offer For Shipping Unit

MANILA ELECTRIC: Unveils Amended Quarterly Report
PHILIPPINE TELEGRAPH: AGM Set On December 3


S I N G A P O R E

GREATER ASIAN: Creditors Meeting Scheduled on November 19
KOH BROTHERS: Posts Change in Shareholder's Interest
KOH BROTHERS: Shareholder's Interest Changes
LINK OCEAN: Creditors to Submit Claims by November 16
MAERSK OFFSHORE: Creditors Must Prove Debts by November 16

TRANSPO ELECTRONICS: Enters Winding up Proceedings
WEE POH: Complies with Rule 723 of SEST Listing Manual


T H A I L A N D

BANGKOK RUBBER: Issues Progress of Business Rehab Plan
SIAM AGRO: Implements Rehab Plan to Avoid Delisting
THAI WAH: Unveils Strategies to Return to Positive Equity
TUNTEX THAILAND: Informs SET on Progress of Rehab Process
TUNTEX THAILAND: Releases Capital Increase Report

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

     -  -  -  -  -  -  -  -

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


AADB PTY LIMITED: Voluntarily Winds Up
--------------------------------------
At a General Meeting of AADB Pty Limited (In Liquidation), duly
convened and held at Level 9, 377-383 Sussex Street, Sydney NSW
2000 on 6 September, 2004 the following Special Resolution
passed:

That the Company be wound up as a Members' Voluntary Liquidation
and that the assets of the company may be distributed in whole
or in part to the members in specie should the liquidators so
desire.

Dated this 6th day of September 2004

Michael Hughes
Liquidator
Prosperity Personal & Corporate Advisers Pty Limited
Level 2, 175 Scott Street,
Newcastle NSW 2300


ACCESS BROKERAGE: Liquidators Seek Unpaid Clients
-------------------------------------------------
Access Brokerage's liquidators are still trying to get in touch
with half of the clients left out-of-pocket by the failed
broker, reports the New Zealand Herald.

According to Liquidator Brendon Gibson, around 5000 clients who
had not been in touch were owed up to AU$70,000.

By the close of business on Wednesday, 84 percent of claims have
been paid out, but this only represents 48 percent of the
collapsed share broker's clients

The clients will not receive their money back until they return
the necessary documents. They need to fill out two forms, one
for the liquidators confirming their personal details and
account balances and another for the Bank of New Zealand (BNZ),
which is underwriting any losses from Access Trust accounts held
at BNZ.

Mr. Gibson said liquidators will be writing to those still owed
money and placing advertisements asking them to get in touch.

"We're asking them to e-mail or call us urgently to lodge a
claim as we want to get their money back to them as soon as
possible."

Access, owned by former Olympic Committee head Bill Garlick, was
placed under liquidation on September 6 after an AU$5 million
hole in the clients' funds was found.

CONTACT:

Access Brokerage Limited
Ground Floor, Exchange Place
5-7 Willeston Street
P O Box 1293
Wellington 6015
Call Free: 0800 734 644
Telephone: 04 473 4644
From Auckland 09 373 4644
Fax: 04 473 4681
E-mail: info@accessbrokerage.co.nz
Web site: http://www.acessbrokerage.co.nz


ALTEON WEBSYSTEMS: To Face Voluntary Winding Up Proceedings
-----------------------------------------------------------
Notice is hereby given that the sole shareholder of Alteon
Websystems Pty Limited resolved on 9 September 2004 that the
company be wound up as a members' voluntary winding up.

Notice is also given that those creditors having a claim against
the company should furnish particulars of their claim to the
Liquidator within twenty-one days, otherwise the distribution of
the assets will take place without regard to such claim.

Dated this 9th day of September 2004

R. N. Yabsley
Liquidator
PDY Partners Pty Limited
Level 6, 54 Miller Street,
North Sydney NSW 2060


AQUASHELL PTY: To Hold Final Meeting on October 20
--------------------------------------------------
Notice is hereby given pursuant to Section 509 of the
Corporations Act 2001 that a final meeting of members and
creditors of Aquashell Pty Limited (In Liquidation) will be held
at the offices of Horwath Sydney, Level 10, 1 Market Street,
Sydney NSW 2000 on 20 October 2004 at 11:00 a.m. for the purpose
of having an account laid before the meeting showing the manner
in which the winding up has been conducted and the property of
the company disposed of, and hearing any explanation that may be
given by the Liquidator.

Dated this 8th day of September 2004

Neil Cussen
Liquidator
Horwath Sydney
10th Floor, 1 Market Street,
Sydney NSW 2000.
Telephone: (02) 9372 0777,
Facsimile: (02) 9372 0606


CHICO FIX: Sets October 29 as Date of Meeting
---------------------------------------------
Notice is hereby given that a meeting of the Members and
Creditors of Chico Fix For You Pty Ltd (In Liquidation) will be
held at Hall Chadwick Level 29, St Martins Tower, 31 Market
Street, Sydney on the 29th of October 2004 at 11:00 a.m.  The
meeting will be a Final Meeting in accordance with Section 509
of the Corporations Act 2001.

BUSINESS

(1) To receive a report from the Liquidator, being an account of
his acts and dealings and of the conduct of the winding up
during the period of the liquidation ending on 29 October 2004.

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

(3) Any other business.

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


COLONIAL FIRST: Final Meeting Slated for October 20
---------------------------------------------------
Notice is hereby given pursuant to Section 509 of the
Corporations Act 2001 that a final meeting of members and
creditors of Colonial First State Property Holdings No. 2 Pty
Limited (In Liquidation) will be held at the offices of Horwath
Sydney, Level 10, 1 Market Street, Sydney NSW 2000 on 20 October
2004 at 11:00 a.m. for the purpose of having an account laid
before the meeting showing the manner in which the winding up
has been conducted and the property of the company disposed of,
and of hearing any explanation that may be given by the
Liquidator.

Dated this 8th day of September 2004

Neil Cussen
Liquidator
Horwath Sydney
10th Floor, 1 Market Street,
Sydney NSW 2000.
Telephone: (02) 9372 0777,
Facsimile: (02) 9372 0606


COLONIAL PCA: Final Meeting Set October 20
------------------------------------------
Notice is hereby given pursuant to Section 509 of the
Corporations Act 2001 that a final meeting of members and
creditors of Colonial PCA Holdings Pty Limited (In Liquidation)
will be held at the offices of Horwath Sydney, Level 10, 1
Market Street, Sydney NSW 2000 on 20 October 2004 at 11:00 a.m.
for the purpose of having an account laid before the meeting
showing the manner in which the winding up has been conducted
and the property of the company disposed of, and of hearing any
explanation that may be given by the Liquidator.

Dated this 8th day of September 2004

Neil Cussen
Liquidator
Horwath Sydney
10th Floor, 1 Market Street,
Sydney NSW 2000.
Telephone: (02) 9372 0777,
Facsimile (02) 9372 0606


COMINDICO AUSTRALIA: Dodo Pledges Support as Sale is Finalized
--------------------------------------------------------------
Comindico Australia's largest customer, Dodo, has committed to
continue purchasing the failed telco's services while its
receivers and managers finalize to sell the business as a going
concern, the Sydney Morning Herald relates.

Comindico's receivers, McGrathnicol+Partners, who are currently
selling off the collapsed firm's businesses, said that the
provider of Dodo dial up and broadband internet services KBS
Internet has pledged its ongoing support to Comindico.

Another of Comindico's big customer, AUSTAR, has vowed to extend
a contract for supply of dial up Internet services.

According to Receiver Murray Smith, the pledged support by the
two clients provided employees and potential buyers of Comindico
with further assurance that the business remained stable and
viable while a sale is finalized.

"The willingness of customers to continue in partnership with
Comindico is testimony to the high level of service the
Comindico team continues to provide, and we expect this to
provide a solid platform upon which to base a successful sale,"
Mr Smith said.

There had been no material customer losses since receivers were
appointed after a breakdown in negotiations with potential
equity investors, Mr. Smith said.

Comindico went into voluntary administration last month after it
ran into financing problems.

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


D'URSO HOMES: To Undergo Winding Up Proceedings
-----------------------------------------------
Notice is hereby given that at a general meeting of members of
D'urso Homes Pty Limited (In Liquidation), held on 9 September,
2004 it was resolved that the company be wound up voluntarily
and that Thomas Javorsky, of Jones Condon, Chartered
Accountants, Level 13 189 Kent Street Sydney NSW 2000 be
appointed liquidator for the purposes of such winding up.

Dated this 10th day of September 2004

Thomas Javorsky
Liquidator
c/- Jones Condon
Chartered Accountants
Telephone (02) 9251 5222


GLOBAL SDR: Court Appoints Provisional Liquidator
-------------------------------------------------
The Australian Securities and Investments Commission (ASIC)
announced in a media release that it has obtained orders in the
Supreme Court of Victoria appointing a provisional liquidator to
Global SDR Technologies Pty Ltd (Global SDR).

Global SDR, together with two subsidiary companies, developed
mobile phone telephony technology known as SpectruCell SDR and
PC4. This technology has been patented and the patent appears to
be beneficially owned by Global SDR. The two subsidiary
companies are now in liquidation as a result of applications by
the Deputy Commissioner of Taxation.

Global SDR and its subsidiaries are associated with Mr. Roger
May and his son, Mr. Jason May (the Mays).

ASIC brought this application because it was concerned about a
proposal to transfer ownership of the patent to a US company and
its affect on the financial position of Global SDR.

ASIC alleges Global SDR is insolvent and should be wound up.
ASIC also alleges that Global SDR should not be allowed to
continue under the control of the Mays given Global SDR's
absence of books and records, their conduct in the affairs of
Global SDR's subsidiaries and their insolvencies and the Mays'
failure to cooperate with the liquidators of those companies.

The Court appointed Mr. Paul A Pattison of Pattison Consulting
the provisional liquidator of Global SDR and ordered Mr.
Pattison to provide a report to the Court by 25 November 2004
detailing the affairs of Global SDR.

ASIC's application for orders to wind up Global SDR has been
adjourned to 26 November 2004.

ASIC also alleged that the Mays had failed to deliver the books
and records of Global SDR's subsidiaries to their respective
liquidators, and therefore sought orders ensuring compliance by
the Mays with the provisions of the Corporations Act 2001.

The Court deferred the hearing of ASIC's application concerning
those books and records until 26 November 2004.


LAING INVESTMENTS: Final Meeting Slated for October 21
------------------------------------------------------
Notice is given that a final meeting of members of Laing
Investments (Asia Pacific) Pty Limited (In Voluntary
Liquidation) will be held at Level 9, 10 Shelley Street, Sydney
NSW, on 21 October 2004 at 10:00 a.m.  The purpose of the
meeting is to receive the Liquidator's account showing how the
winding up has been conducted and the property of the company
has been disposed of, and to receive any explanation of the
account.

Dated this 8th day of September 2004

M. C. Smith
Liquidator
McGrathNicol+Partners
Level 9, 10 Shelley Road,
Sydney NSW 2000.
Telephone: 61 2 9338 2666


LEDRON PTY: Members Resolve to Voluntarily Wind Up
--------------------------------------------------
Notice is hereby given that a general meeting of members of
Ledron Pty Ltd was held on the 2nd day of September 2004. It was
resolved that the Company be wound up voluntarily and that for
such purposes Ashton John Brailey, of Ashton Brailey & Co, Suite
8, 14 Frenchs Forest Road, Frenchs Forest, 2086, be appointed
Liquidator.

Dated this 1st day of September 2004

Ashton Brailey
Liquidator


MACKEY EQUIPMENT: Names Anthony M. Long as Liquidator
-----------------------------------------------------
Notice is hereby given that a duly constituted meeting of
members of Mackey Equipment Pty Ltd was held on 6 September
2004, and the following resolutions were passed as special
resolutions by the members.

(1) That the company be wound up voluntarily.

(2) That the liquidator be and hereby is authorized to
distribute in specie or kind such assets of the company as the
liquidator may deem fit.

At the same meeting, an ordinary resolution was passed
appointing Anthony M. Long, of Boyce Chartered Accountants, 19
Montague Street Goulburn, as liquidator of the company.

Notice is given that creditors having claim against the above
company should furnish particulars of claims to the liquidator
within twenty-one (21) days of the date of this notice,
otherwise distribution of assets will take place without regard
to such claims.

Dated this 6th day of September 2004

Anthony M. Long
Liquidator
c/- Boyce Chartered Accountants
19 Montague Street,
Goulburn NSW 2580


M.&E. SILBERBACH: To Enter Winding Up Proceedings
-------------------------------------------------
At an extraordinary general meeting held on 8 September 2004
members unanimously resolved that M.&E. Silberbach Pty Ltd be
placed into a members' voluntary winding up and that Mr. E. T.
Conrick, Chartered Accountant of Suite 4, Level 2, 79-85 Oxford
Street, Bondi Junction NSW be appointed Liquidator.


MIRAGE TRAVEL: Winds Up Voluntarily
-----------------------------------
Notice is hereby given that at a general meeting of members of
Mirage Travel Pty Limited (In Liquidation), held on 6 September
2004, it was resolved that the company be wound up voluntarily
and that Schon G. Condon and Bruce Gleeson, of Jones Condon
Chartered Accountants, Level 1, 34 Charles Street Parramatta
NSW, be appointed joint liquidators for the purposes of such
winding up.

Dated this 7th day of September 2004

Bruce Gleeson
Schon G. Condon
Liquidator
c/- Jones Condon
Chartered Accountants
Telephone: (02) 9893 9499


NATIONAL AUSTRALIA: National Pool Best Option in Wheat Market
-------------------------------------------------------------
A panel of Australia's leading grains industry analysts convened
by National Australia Bank told farmers last week that the
national pool is looking like the best option to maximize
returns from a sliding wheat market.

Malcolm Bartholomaeus, Callum Downs Commodity News; Dennis Wise
from Profarmer Australia; Brett Stevenson from Market Check and
the National's Head of Agribusiness Risk Management Services Tim
Keith agreed that for most growers, the AWB Limited National
Pool would be the best option this year.

SA-based Mr. Bartholomaeus told the 500-grain growers watching
the interactive televised National Harvest Finance Forum that
potential movement in global commodity prices and changes in
currency values could add another AU$10 to AU$15 a ton onto
current pool estimates by mid-2005.

WA-based Mr. Wise, while more cautious about pool price upside,
said over the past 10 years, pool prices have averaged AU$7.50
per ton better than the Nominated Estimated Pool Return Rate
price released in the first week of November.

NSW-based Mr. Stevenson said while the national pool was a good
option, for east coast growers, there would be pockets of
opportunity on the cash market for domestic stock feed and human
consumption markets.

"There might be another AU$5 to AU$10 a ton in the national pool
over current estimates, but there is also a risk pool returns
may slip further," Mr. Stevenson said.

The panel agreed that the premiums domestic pools had achieved
over export pools over the past two seasons would be unlikely to
be repeated this season.

"Pools might be a good option, but growers need to keep their
ears on to look for opportunities to snatch cash sales as we
move into harvest," Mr. Stevenson said.

Mr. Keith highlighted the potential benefits of managing price
risk throughout the season rather than leaving it until harvest.  
"Our data shows that customers who have used National wheat
swaps this year, for example, may be up to AU$40 per ton better
of than those who are relying on the pool return," Mr. Keith
said.

The panel told farmers the opportunity to manage the risk of
sliding prices had passed and farmers planning to deliver to the
pool now need to focus on selecting the best pool product before
harvest commences.

"Farmers need to get advice from their financial advisors,
consultants or accountants on whether they need to be thinking
about managing cash flow now and delaying taxable income to next
year, or whether they want to access cash as taxable income this
year," Mr. Bartholomaeus said.

"If non-taxable cash flow is the best option, then it boils down
to choosing a harvest loan with flexible draw-down and with the
features that best suit the farmer," Mr. Bartholomaeus said.

Mr. Wise told the forum farmers should make time in the run up
to harvest to make sure they have the right information at their
fingertips to accurately compare returns from pools, cash and
the prices posted at local silos.

A web cast of the forum can be viewed at www.national.com.au on
the Agribusiness page.

CONTACT:

National Australia Bank Ltd.
Level 24, 500 Bourke Street,
Melbourne, Victoria, Australia, 3000  
Head Office Telephone: (03) 8641-4160  
Head Office Fax: (03) 8641-4927  
Web site: http://www.national.com.au/


NEON ENGINEERS: To Hold Joint Meeting on October 22
---------------------------------------------------
Notice is given pursuant to Section 509 of the Corporations Act
2001 that a joint meeting of the members and creditors of Neon
Engineers Pty Ltd (In Liquidation) will be held at the offices
of Armstrong Wily & Co, Level 5, 75 Castlereagh Street, Sydney
NSW 2000 on Friday, 22 October 2004, at 10:30 a.m., for the
purpose of having an account laid before them showing the manner
in which the winding up has been conducted and the property of
the company disposed of, and of hearing any explanations that
may be given by the Liquidator.

Dated this 7th day of September 2004

A. H. J. Wily
Administrator
Armstrong Wily & Co
Chartered Accountants
Level 5, 75 Castlereagh Street,
Sydney NSW 2000


QANTAS AIRWAYS: Backs LAX Master Plan
-------------------------------------
Qantas Airways on Friday said that a decision to approve the Los
Angeles International Airport (LAX) Master Plan at the Los
Angeles City Council meeting on October 19, 2004 would open the
way for Qantas to operate a history-making first service with
the revolutionary new Airbus A380 aircraft from Australia to Los
Angeles in 2006.

Qantas Airways Senior Executive Vice President Wally R. Mariani
said that the LAX Master Plan included the facility, safety and
runway improvements needed for the new aircraft type, which
would be a vital part of the airline's future operations.

"The Master Plan also addresses issues such as gate upgrades,
without which we would see more than 500 passengers from the
A380 bused from remote terminals into the main airport
terminal," Mr. Mariani said.

"Due to this significant increase in the number of passengers
carried, it becomes a totally unsatisfactory customer experience
to use remote operations," he added.

Earlier this year, American superstar and Qantas Ambassador John
Travolta traveled to Australia to celebrate the 50th anniversary
of Qantas flights to the U.S. and launch the first-ever nonstop
commercial flights between Brisbane, in Queensland, Australia,
and Los Angeles. An aviation milestone, the service commenced on
June 16, 2004 with three weekly direct flights.

"We operate more flights to LAX than any other international
airline," Mr. Mariani said, adding, "Last year, we flew more
than 900,000 people and 27 million pounds of cargo to and from
Los Angeles, which represents a contribution of billions of
dollars to tourism and a significant commercial benefit for
importers and exporters.

"We have also increased our nonstop services between Sydney and
Los Angeles over the past 12 months with an additional four
weekly flights and will increase our Melbourne-Los Angeles
nonstop services in the near future. We currently fly 37 Boeing
747 return flights a week between Australia/New Zealand and Los
Angeles.

"We expect to fly more people than ever this year and by 2007,
visitor numbers from Australia and New Zealand are expected to
increase by almost 150,000 annually. This translates to a
significant commercial benefit for the Los Angeles region's
economy," he added.

Mr. Mariani also stated, "It is clearly in everyone's interest
to find a more efficient and environmentally friendly way to
cope with this increase."

The Airbus A380 would:

- Contribute to Los Angeles' tourism and commerce revenue by
allowing Qantas to increase the number of seats by 34% through
to 2009 without any increase in the number of aircraft
movements;

- Reduce airborne noise through design features including
acoustic treatments, wing tip and droop nose devices;

- Reduce exhaust gases with its new engine and airframe design;
and

- Reduce ground noise through quieter taxiing, reduced auxiliary
power unit output and noise abatement ground software.

"International carriers worldwide have committed, or are in the
process of committing resources to upgrade their fleets to
include the A380 and other next generation aircraft," Mr.
Mariani said.

"We are well down the track with plans to take the A380 to a
range of airports around the world, including London and
Singapore. However, we are initially committed to operating the
A380 to Los Angeles, where we offer more services than any other
international carrier.

"We are looking forward to working with Los Angeles to develop
the best possible service for the next era of air travel," he
added.

About Qantas Airways

Qantas Airways is a global air carrier with more than 200
aircraft offering service to 135 destinations in 32 countries.
Founded in 1920, Qantas Airways in 2004 celebrated 50 years of
continuous flying between North America and Australia with more
nonstop flights to Australia and New Zealand than any other
carrier and has maintained a strong global presence within the
worldwide travel market. Recently named Airline of the Year 2004
by Air Transport World magazine, Qantas Airways has long been
recognized for its continued focus on excellence in the air as
well as on the ground. Recently, Qantas' Skybed received the
prestigious Chicago Athenaeum Museum 2004 Good Design Award for
its sleeper seat that is being introduced in the North American
market.

CONTACT:

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


SANTOS LIMITED: Forms Joint Exploration Venture with Mitsui
-----------------------------------------------------------
Santos Limited (Santos) and the Mitsui & Co, Ltd (Mitsui)
subsidiary, Mittwell have joined forces again to explore for oil
and gas - this time in another part of the offshore Otway Basin,
southern Australia.

Santos has announced that Mittwell Energy Resources Pty Ltd,
already a joint venture partner in the AU$200 million Casino gas
development, has now taken a 25-percent equity interest in the
VIC/P51 exploration permit area.

Mittwell will jointly participate with Santos and existing
partner Inpex Alpha Ltd., a subsidiary of Inpex Corporation, in
a new exploration program in the VIC/P51 permit area, which is
in offshore Victoria, in the Otway Basin.

This includes drilling the Callister 1 exploration well, which
spudded on October 13, 2004, and is being drilled in VIC/P51 by
the deepwater rig, Jack Bates.

The Jack Bates rig arrived on location at the site of the
Callister 1 well earlier this week, after a 7-week voyage from
Norway.

The Mittwell farm-in agreement is subject to approval by
relevant authorities.

The VIC/P51 permit covers an area of over 2600 square
kilometers.  It lies adjacent to the Casino gas development in
VIC/P44 and the deepwater exploration permit VIC/P52.

The VIC/P52 permit is the location for Santos' frontier
exploration well, Amrit 1, which will be drilled immediately
following the Callister 1 well.

"We are pleased to welcome Mittwell as a partner in a portion of
our Otway Basin exploration program," Santos' Managing Director,
Mr. John Ellice-Flint, said today.

Interest holders in the VIC/P51 exploration permit are:

                           New interests    Previous interests
Santos Offshore Pty Ltd    55%              80%
Mittwell Energy Resources
Pty Ltd (a wholly owned
subsidiary of Mitsui)                       25%  -
INPEX ALPHA LTD            20%              20%

CONTACT:

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


SANTOS LIMITED: Strikes Oil, Gas in East Java
---------------------------------------------
Santos Limited advised that oil and gas have flowed from its
Jeruk 2 ST-2 well being drilled in the Sampang Production
Sharing Contract, offshore East Java.

An open-hole Drill Stem Test (DST) was performed in the well
during Saturday, the 16th and Sunday, the 17th of October 2004.  
The test was performed over an 18-meter interval from 5,134m to
5,152m measured depth.

Preliminary results from the DST are:

- A flow rate of 7,488 barrels of oil (1,190 kilolitres) per day
was recorded through a 1/2-inch (12.7 millimeter) surface choke
accompanied by 2.21 million cubic feet (62.6 thousand cubic
meters) per day of gas during a 5 1/2 hour flow period.

- The flow rate was constrained by the throughput capacity of
the surface production test facilities.

- A flowing tubing head pressure of 2,762 pounds per square inch
(19,043 kilopascals) was recorded.

Following completion of the flow test the well was shut-in for
measurement of pressure build-up, after which the testing
equipment will be removed from the hole. Jeruk 2 will then be
deepened in order to ascertain the full extent of the
hydrocarbon column.  Logs will be run when the well has reached
total depth.

"These preliminary results from Jeruk 2 are very encouraging and
we look forward to the final evaluation of the well," Santos'
Managing Director, Mr. John Ellice-Flint, said.

Jeruk 2 was drilled to follow up the Jeruk 1 well, which
finished drilling in early April 2004 about 1.6 kilometers west
of Jeruk 2. The well is in the Sampang PSC in water depth of 44
meters and it is located approximately 42 kilometers from the
Indonesian city of Surabaya.

Interests in the field are:

Santos Group (operator)  50%
PT Medco Sampang  50%

For Further Information Please Contact:

Media inquiries:
Kathryn Mitchell
(08) 8218 5260 / 0407 979 982

Investor inquiries:
Graeme Bethune
(08) 8218 5157/ 0419 828 617


SPARAD NO.30: Sets Final Meeting on October 20
----------------------------------------------
Notice is hereby given pursuant to Section 509 of the
Corporations Act 2001 that a final meeting of members and
creditors of Sparad No.30 Pty Limited (In Liquidation) will be
held at the offices of Horwath Sydney, Level 10, 1 Market
Street, Sydney NSW 2000 on 20 October 2004 at 11:00 a.m. for the
purpose of having an account laid before the meeting showing the
manner in which the winding up has been conducted and the
property of the company disposed of, and hearing any explanation
that may be given by the Liquidator.

Dated this 9th day of September 2004

Neil Cussen
Liquidator
Horwath Sydney
10th Floor, 1 Market Street,
Sydney NSW 2000.
Telephone: (02) 9372 0777,
Facsimile: (02) 9372 0606


TYN ELECTRONICS: Appoints Michael John Morris as Liquidator
-----------------------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of members of TYN Electronics Pty Limited (In Liquidation) held
on 8 September 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, Michael John Morris
Smith of Smith Hancock, Chartered Accountants, Level 4, 88
Phillip Street, Parramatta NSW 2150 be appointed Liquidator.

Dated this 9th day of September 2004

M. J. M. Smith
Liquidator
Smith Hancock
Chartered Accountants
Level 4, 88 Phillip Street,
Parramatta NSW 2150


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


GHIASPEED MOTORS: To Receive Dividend Proofs by October 30
----------------------------------------------------------
Ghiaspeed Motors Centre Limited with registered office at 10th
Floor, Queensway Government Offices, 66 Queensway, Hong Kong
posted its dividend notice on October 15, 2004 at The Standard.

Last Day for Receiving Proofs: 30 October 2004

E T O'CONNELL
Official Receiver & Liquidator


HONGKONG CONSTRUCTION: Annual Meetings Set October 26
-----------------------------------------------------
Notice is hereby given that pursuant to Section 247 of the Hong
Kong Companies Ordinance, the Annual Meetings of Members and
Creditors of HongKong Construction (Works) Limited will be held
at 8/F, Allied Kajima Building, 138 Gloucester Road, Wanchai,
Hong Kong on 26 October 2004 at the following times:

Annual Meeting of Members  10:00 a.m.
Annual Meeting of Creditors  10:15 a.m.

for the purpose of having laid before the meeting by the
Liquidator an account of his acts and dealings and of the
conduct of the winding-up during the year ending 25 October
2004.

Proxies must be lodged at 7/F, Allied Kajima Building, 138
Gloucester Road, Wanchai, Hong Kong no later than 4:00 p.m. on
the day before the meeting or adjourned meeting at which it is
to be held.

Dated this 15th day of October 2004.

Stephen Briscoe
Joint and Several Liquidator


TRUMP GOLD: Court To Hear Application by Liquidator
---------------------------------------------------
An application by the Official Receiver and Provisional
Liquidator of Trump Gold Korn Jewelry Company Limited will be
heard before Master S. Kwang of the High Court for consideration
of the resolutions and determinations (if any) of the first
meetings of creditors held on the 26th of July 2004 and 9th
August 2004 respectively, deciding the differences (if any), and
making such order of appointments as the court may think fit.

Date and Time of Hearing:
11 November 2004 (Thursday) at 9:30 a.m.

Place of Hearing:
High Court Building, No. 38 Queensway, Hong Kong.

Any creditor or contributory of the Company is entitled to
attend and be heard at the above hearing.

Dated this 15th day of October 2004

E T O'CONNELL
Official Receiver & Provisional Liquidator


WELTIN INVESTMENTS: Winding Up Hearing Slated for November 17
-------------------------------------------------------------
Notice is hereby given that a petition for the winding up of
Weltin Investments Limited by the High Court of Hong Kong
Special Administrative Region was on the 4th day of October 2004
presented to the said Court by Bank of China (Hong Kong) Limited
whose registered office is situated at 14th Floor, Bank of China
Tower, 1 Garden Road, Central, Hong Kong.  

The said Petition will be heard before the Court at 9:30 am on
the 17th day of November 2004.

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

Messrs. Tsang, Chan & Wong
Solicitors for the Petitioner
16th Floor, Wing On House
71 Des Voeux Road Central
Hong Kong

Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention to do so.  The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the above named not
later than six o'clock in the afternoon of the 16th day of
November 2004.


WINGKASON BROTHERS: Court To Hear Bankruptcy Petition
-----------------------------------------------------
Notice is hereby given that a Petition for the winding up of
Wingkason Brothers Company Limited by the High Court of Hong
Kong Special Administrative Region was on the 6th day of
September 2004 presented to the said Court by the Secretary for
Justice for and on behalf of the Commissioner of Customs &
Excise acting for the Government of the Hong Kong special
Administrative Region, 2nd Floor, High Block, Queensway
Government Offices, 66 Queensway, Hong Kong.

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

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

Leu Lap Yau, Brian
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 on 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.


WING WAH: To Undergo Winding Up Proceedings
-------------------------------------------
Notice is hereby given that a petition for the winding up of
Wing Wah Motor Boat Company Limited by the High Court of Hong
Kong was on the 27th day of September, 2004 presented to the
said Court by Lai Hung of Room C, 22/F., Kanfield Mansion, 44-49
Sun Chun Street, Tai Hang, Hong Kong.  

The said petition will be heard before the Court at 9:30 am. on
the 3rd of November 2004.

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

Betty Chan
For Director of Legal Aid
34th Floor, Hopewell Centre
183 Queen's Road East, Wanchai
Hong Kong

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


WORLDER SHIPPING: Faces Winding Up Proceedings
----------------------------------------------
Notice is hereby given that a petition for the winding up
Worlder Shipping Limited by the High Court of Hong Kong Special
Administrative Region was on the 24th day of September 2004
presented to the said Court by Umbrella Finance Company Limited
whose registered office is situated at 15th Floor, Three
Exchange Square, 8 Connaught Place, Central, Hong Kong.

The said Petition will be heard before the Court at 9:30 am on
the 3rd day of November 2004.

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

Clifford Chance
Solicitors for the Petitioner
29th Floor, Jardine House
One Connaught Place, Central
Hong Kong

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


YICK HOST: Court Set to Hear Winding Up Petition November 3
-----------------------------------------------------------
Notice is hereby given that a petition for the winding up of
Yick Host Development Limited by the High Court of Hong Kong
Special Administrative Region was on the 30th day of September
2004 presented to the said Court by Bank of China (Hong Kong)
Limited whose registered office is situated at 14th Floor, Bank
of China Tower, 1 Garden Road, Central, Hong Kong.  

The said Petition will be heard before the Court at 10:00 am on
the 3rd day of November 2004.

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

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

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


* Four Major Banks in Need of Revamp
------------------------------------
China's four major banks, namely China Construction Bank,
Communications Bank, Bank of China and Agricultural Bank are
said to be the least competitive among the 37 Beijing-based
domestic and foreign banks, reports the China Economic Times.

Foreign banks occupy the top twelve positions, with China
Merchants Bank occupying the 13th place, the highest position
for a domestic bank.

Meanwhile, Agricultural Bank is cited as the competitive firm.
Although the results are hardly a surprise due to the relative
weakness of the local banking sector, it is expected that the
foreign banks be considered as the most competitive ones. But it
is dismal to note that the top four players lag behind domestic
rivals.

The lack of competitive edge among the four banks, who have had
enjoyed preferential policies, is not good for policy makers as
they are aiming to galvanize the sector to brace for the
upcoming competition as China will soon be opening its banking
industry.

The banks' poor performance is largely to be blamed to a flawed
corporate governance and lack of sound management, which has
affected efficient decision-making and restricted their ability
to control risk and innovate.

Thus, analysts have remained doubtful when the government placed
US$45 billion into Bank of China (BOC) and China Construction
Bank (CCB) in order to enhance capital adequacy ratio early in
the year, saying the move will not work without better
governance.

BOC and CCB are set to enlist by next year to be followed by
other two state-owned banks.

The `big four' banks still have a long way to go before it can
compete with foreign groups. The BOC, CCB, Agricultural Bank and
Communications Bank have to improve their customer service in
order to gain more clients, as well as boost profit levels.


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


DIRGANTARA INDONESIA: To Secure US$50-Mln IDB Loan
--------------------------------------------------
PT Dirgantara Indonesia is considering seeking a US$50 million
loan from the Islamic Development Bank (IDB) to fulfill aircraft
purchase orders, reveals Asia Pulse.

The state aircraft manufacturer is looking to add the new loan
to its current US$39 million capital allocated for the financing
of new contracts to supply CN-235s to Pakistan and Malaysia.

Earlier, the IDB has expressed interest to lend US$50 million to
Dirgantara in response to the proposal made by Industry and
Trade Minister Rini MS Soewandi.

The Company's Corporate Secretary Muchtar Syarief said the IDB
would at least send some of its officers to Dirgantara's
headquarters to evaluate the firm's performance.

"IDB will later hold a meeting to discuss whether or not to
agree on the disbursement of the loan," he said.

The government has earlier restructured Dirgantara's four core
businesses, namely aircraft assembly, aircraft components
manufacturing, aircraft operation and maintenance, and
aeronautic and non-aeronautic engineering services.

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


SEMEN GRESIK: To Stop Product Exports Next Year
-----------------------------------------------
State-controlled cement maker PT Semen Gresik Tbk has announced
its plan to halt the export of all its products in 2005 because
of robust demand in the domestic market, Asia Pulse says.

Gresik's President Satriyo said that the company is considering
diverting all its products from export to the local market to
cater to the cement needs of Indonesians.

Mr. Satriyo told reporters that Gresik's export volume,
including that of its two subsidiaries PT Semen Padang and PT
Semen Tonasa, reached 250,000 tons per year.

"We plan to decrease our export volume to zero per cent and
divert our products to the domestic market," he added.

The company forecasts Indonesia's cement demand to reach 31
million tons by the end of the year and to grow 10 percent from
the same period last year, when the figure was 28 million tons.

CONTACT:

PT Semen Gresik (Persero) Terbuka
Jalan Veteran
Gresik 61122
Indonesia
Phone: +62 31 398 1731-2/1745
Fax: +62 31 398 3209/3972 2264  
Web site: http://www.americanstandard.com/


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


DAIEI INCORPORATED: 1H Net Profit Dives 49%
-------------------------------------------
Plagued by massive debts and plunging sales, Daiei Incorporated
saw its group net profit plummet 49 percent to JPY1.18 billion
(US$10.8 million) in the first half of the fiscal year from
JPY2.3 billion previously, reports Dow Jones Newswires.

The struggling retailer, likewise, booked group revenue of
JPY935.03 billion, down 5.8 percent from last year's JPY992.08
billion. The group's interest-bearing debt amounted to JPY1.04
trillion as of August 31, a slight cutback from JPY1.075
trillion at the end of last fiscal year and down from a peak of
JPY2.4 trillion.

The financial report came two days after Daiei decided to turn
to the state-backed Industrial Revitalization Corporation of
Japan (IRCJ) to revive its ailing business.

Daiei had previously refused to seek IRCJ's support in its
rehabilitation despite pressure from its main creditor banks for
fear that the turnaround body would force it to undergo harsh
restructuring steps. However, the company eventually gave in
after its creditors threatened to withdraw support if Daiei
insisted in reviving its business on its own.

Daiei had expected to cut its debt to JPY915 billion by the
February book closing for the current fiscal year. But due to
its need to work out a new midterm-restructuring plan with the
IRCJ and its main lenders, Daiei said it may miss that target.

For the same reason, the company didn't provide a group net
profit forecast for the full year. But it stood by its group
revenue projection of JPY1.855 trillion, which represents a 7-
percent drop from last year.

The figures reflect Daiei's weak balance sheet, which had been
stretched to the limit by a borrowing-binge-led expansion.
Despite bailouts and restructuring efforts in recent years, the
firm has struggled amid heavy debts and falling sales.

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


DAIEI INCORPORATED: Chief Takagi Steps Down
-------------------------------------------
The president of struggling department store chain operator
Daiei Incorporated announced his resignation Friday, two days
after the firm sought aid from the government-backed turnaround
body, relates the Associated Press.

Kunio Takagi said he will step down as Daiei president on
October 22 to take responsibility for the retailer's problems.
But he will remain as a board member. The name of his successor
was not immediately disclosed.

"I apologize for having caused confusion," Mr. Takagi said on
national television.

Mr. Takagi had tried to turn Daiei around without the
involvement of the Industrial Revitalization Corporation of
Japan (IRCJ). However, intense pressure from the retailer's main
lenders UFJ Bank, Mizuho Corporate Banking and Sumitomo Mitsui
Banking prompted him to seek IRCJ's help.

Daiei had received two massive bailouts before, with its three
main creditors injecting a total of JPY520 billion (US$4.7
billion) in financial aid in 2001 and 2002.


ISHIKAWAJIMA-HARIMA HEAVY: R&I Puts Rating on Monitor
-----------------------------------------------------
Rating and Investment Information, Inc. (R&I), has placed the
following ratings of Ishikawajima-Harima Heavy Industries Co.,
Ltd on the Rating Monitor scheme, with a view to downgrading
them:

Senior Long-term Credit Rating; Long-term Bonds (10 Series)
R&I RATING: (BBB+); Placed on the Rating Monitor scheme with a
view to downgrading

RATIONALE:

On October 13, Ishikawajima-Harima Heavy Industries (IHI)
announced a downward adjustment in its forecast results for the
year ending March 31, 2005. Predictions for consolidated
ordinary profits have been amended to JPY5 billion (down from a
previous JPY16 billion projection) and consolidated net profit
JPY3 billion (compared with an earlier JPY10 billion
projection).

Worsening profits in its shipbuilding and marine industries and
in transport equipment in its logistics and engineering business
has been cited as the reason. In its settlement for the March
2004 period, IHI changed its standards for provisions and posted
large provisions for losses on construction orders. In line with
this change, IHI has made efforts to tighten its management of
construction projects.

However, profits have deteriorated further and R&I must
seriously view the inevitability of the enormous downward
adjustment in IHI's outlook for results for the entire year. In
addition to conditions in the company's projects, a factor in
the adjustment this time, and IHI's measures in response to
prevailing conditions, R&I will carefully assess the impact of
rises in material prices, including the price of steel, will
have on its medium term business profits and then announce a new
rating.

To view the full release, click on:
http://bankrupt.com/misc/TCRAP_ISHIKAWAJIMA-HARIMA101804.pdf

CONTACT:

Ishikawajima-Harima Heavy Industries Co., Ltd.
Shin Ohtemachi Bldg., 2-1,
Ohtemachi 2-chome, Chiyoda-ku
Tokyo, 100-8182, Japan
Phone: +81-3-3244-5111
Fax: +81-3-3244-5131
Web site: http://www.ihi.co.jp


MITSUBISHI FUSO: Govt To Order Truck Owners to Fix Their Cars
-------------------------------------------------------------
The transport ministry is thinking of ordering reluctant owners
of vehicles manufactured by Mitsubishi Fuso Truck and Bus
Corporation to have their cars fixed, reports the Mainichi Daily
News.

Land, Infrastructure and Transport Minister Kazuo Kitagawa
confirmed the state plans to issue a notice to some 1,350 truck
and bus owners with defective clutches, ordering them to have
their vehicles undergo repairs.

Those who fail to comply with the mandate within a fixed time
frame will risk suspension of safety check certificates or a
fine of up to JPY500,000.

Scandal-hit Mitsubishi Fuso is currently recalling a number of
vehicles for free repair of faulty clutches, which could cause
brake problems and accidents.

Following two fatal accidents involving defective hubs or
clutches, the truck maker has notified the ministry recalls of
its vehicles involving 40 faulty parts.

However, similar accidents continue to occur, as many vehicles
have not been completely fixed.

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


MITSUBISHI MOTORS: Unveils 2005 Model Lineup
--------------------------------------------
Mitsubishi Motors Corporation announced in its web site that
five of its eight production models have been heavily revised or
completely redesigned within the past year - including the
Lancer, the Lancer Evolution, the Galant, the Outlander and the
Endeavor.

Two of Mitsubishi's new products are assembled at one of the
most efficient, state-of-the-art manufacturing facilities on the
planet. Technology helps create a high degree of manufacturing
efficiency that contributes to product reliability, and it is
with great confidence that Mitsubishi Motors has added a five-
year/60,000-mile bumper-to-bumper new vehicle limited warranty
to its outstanding 10-year/100,000-mile powertrain limited
warranty and five-year/unlimited-miles roadside assistance.

From the obscenely-quick, rally-racing inspired Lancer Evolution
MR Edition to the bigger, more powerful Galant sedan; from the
adaptable Outlander to the highly acclaimed and capable Endeavor
midsize SUV; Mitsubishi Motors imbues practicality, performance
and value into vehicles designed to suit the wide-ranging
demands of the people who drive them.

"The Mitsubishi product line continues growing stronger, with
better value, style and performance across a wide range of
vehicles that fit every stage of life," said MMNA president and
CEO Finbarr O'Neill.

"All 2005 Mitsubishi products are backed by the industry's
strongest protection plan to ensure a worry-free ownership
experience. Buying a new Mitsubishi is smarter than ever."

To view the full media release, click on:
http://bankrupt.com/misc/TCRAP_MITSUBISHIMOTORS101804.pdf

CONTACT:

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


UFJ HOLDINGS: Sumitomo Set To File Suit Over Merger with MTFG
-------------------------------------------------------------
Sumitomo Trust and Banking Co. is set to lodge a lawsuit with
the Tokyo District Court seeking an order to halt trust merger
negotiations between UFJ Holdings Inc. and Mitsubishi Tokyo
Financial Group Inc. (MTFG), The Japan Times reports.

Sources, likewise, said Sumitomo Trust is also planning to file
a damages suit against UFJ Holdings and its group executives,
including UFJ President Ryosuke Tamakoshi if the court will not
order suspension of the talks.

In late August, the Supreme Court rejected a request from
Sumitomo Trust for a provisional injunction against the UFJ-
Mitsubishi Tokyo merger negotiations, saying Sumitomo Trust will
not "suffer from considerable damage or be exposed to imminent
danger" if such talks continue. But the top court also affirmed
it would not be impossible for Sumitomo Trust to reach a merger
accord with UFJ Trust.

In mid-August, UFJ Holdings and MTFG have inked a basic merger
agreement to merge their businesses by October 2005 to create
the world's top-ranked bank with total assets of JPY190
trillion.

UFJ Holdings decided to pursue a merger plan with MTFG,
believing its restructuring would not be enough with a business
alliance only in the trust division.

Sumitomo Mitsui Financial Group Inc., which has made a rival bid
for a merger with UFJ Holdings, is cooperating with Sumitomo
Trust in an effort to stop the UFJ-Mitsubishi Tokyo merger
negotiations.

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: Offers Free Withdrawal Services at All ATMs, CDs
--------------------------------------------------------------
UFJ Holdings Incorporated subsidiaries UFJ Bank Limited and UFJ
Trust Bank Limited, and Mitusbishi Tokyo Financial Group units
Bank of Tokyo-Mitsubishi Limited and The Mitsubishi Trust and
Banking Corporation will offer free cash withdrawals at any ATM
(Automatic Teller Machine) and CD (Cash Dispenser) of the four
banks prior to completion of thge planned management integration
as they aim to promptly pass on the benefits of the integration
to their customers.

As part of efforts to enhance customer convenience, customers of
the four banks will be able to withdraw cash through the other
bank's ATM's and CDs without incurring any cross-use fees. The
four banks will achive a nationawide network of 9,423 ATMs nad
CDs and 2,891 branches.

The plan will be implemented starting Wednesday, October 27,
2004.

To view the full release, click on:
http://bankrupt.com/misc/TCRAP_UFJHOLDINGS101804.pdf


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


KOOKMIN BANK: Accounts for 31.7% of Complaints Filed
----------------------------------------------------
Among the 2,949 customer complaints filed against financial
institutions for the first half of the year, 935 or 31.7 percent
were attributed to Kookmin Bank, Digital Chosunilbo reports,
citing a report from the Financial Supervisory Services (FSS).

Among the other banks, Woori Bank came up with 339, Chohung Bank
266, Hana Bank 264 and Industrial Bank of Korea with 191
complaints.

Daewoo Securities received the highest number of complaints
against securities firms with 49 complaints.  Hyundai Securities
with 37, Prudential Securities came in third and LG Investment &
Securities was fourth.  The smallest number of complaints
relative to its size went to Samsung Securities, the nation's
largest securities firm at the eleventh position.

Complaints filed with life insurance companies during the period
totaled 3,405, 54.3 percent of which were with Korea Life, Kyobo
and Samsung Life Insurance. Korea Life Insurance, the nation's
third largest insurance provider, ranked first in the number of
complaints.

With a total of 2,274 complaints filed against insurance firms,
Samsung Fire, Hyundai Marine & Fire and Dongbu Insurance drew
more complaints than did other companies.  Samsung Fire received
the most complaints among fire insurance firms with 338 in loss
insurance and 412 in automobile insurance.  Complaints filed
against automobile insurance firms totaled 1,946.

According to an FSS official, the high number of complaints
targeting large firms shows that despite their financial clout
and management systems, they tend to neglect customer relations.

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


SSANGYONG MOTOR: Union Set to Ink Agreement with SAIC
-----------------------------------------------------
The labor union of Ssangyong Motor Co. has been given a job
guarantee through a special pact to be signed by Shanghai
Automotive Industry Corp. (SAIC), reports The Korea Herald.

With emphasis on concerns regarding the legal strength of the
agreement, SAIC said it would have Ssangyong's Korean management
sign the pact.

"We will consult with out legal experts about to what extent the
contract can be legally-binding," said Lee Young-ho, the union's
spokesman.

The pact will likely occur before the scheduled contract signing
between Ssangyong and SAIC for the purchase of 48.9 percent
stake in the Korean automaker, Mr. Lee said.

"We will give full rights to the present Ssangyong management
regarding the talks with the union. The management will sign a
special pact with the workers to ensure job security and steady
development of the company," said Vice President Jiang Zhi Wei
after a closed-door meeting with the union leaders in Seoul.

"At the same time, we will put a clause on job safety on the
final contract for the Ssangyong acquisition," he added.

When Shanghai Automotive was chosen as the preferred bidder in
July to acquire Ssangyong, the labor union had demanded job
security and a long-term commitment from Shanghai Automotive.

"After all, we have seen respect Shanghai Automotive has for the
employees here. The meeting was very helpful for both parties to
understand each other," Yu Man-jong, the union's leader, said
after Friday's meeting.

Other demands set out by the union is a to establish a committee
between the management and workers to discuss major managerial
issues such as plant relocation.  During the meeting, the
Chinese officials simply said more discussions will be needed on
the issue.

Another undecided union demand is limited transfer of
Ssangyong's technologies on engines and transmissions to the
Chinese automaker. The technological transfer is considered to
be one of the main reasons behind Shanghai Automotive's bid. The
automaker wants to expand its product line to include sports
utility vehicles.

Shanghai Automotive has taken a careful approach to tackle the
labor issue. The company's President, Hu Maoyuan, in July
promised job security for Ssangyong's management and workers and
pledged steady development of the company's research
capabilities. "We will make investment to grow Ssangyong's
business in Korea," Mr. Hu said.

In February, Ssangyong chose China National Bluestar Corp. as
the preferred bidder, but the union blocked Bluestar from
inspecting the company's assembly plants.  The union said,
Bluestar failed to convince them that it had a long-term
interest in their company.

The Chinese chemical maker exited the bidding in March after it
failed to agree on a takeover price with Ssangyong's creditors.
The union said the new preferred bidder would be a better
partner than Bluestar since it is an auto company.

According to industry observers, Shanghai automotive hopes to
gain Ssangyong's expertise in the SUV segment after the
acquisition.  The chinese company does not have similar model in
its product lineup.

Analysts' reactions on Ssangyong's benefit from the acquisition
are diverse.  Some say the Chinese buyer will simply exploit
Ssangyong as a technology source.  On the other hand, others say
the acquisition will give Ssangyong a firm foothold on China's
growing
SUV market.

After the collapse of the parent Daewoo Group, Ssangyong
underwent a creditor-led debt workout program to normalize its
business. Last year, its sales reached 3.3 trillion won and net
profit jumped 84 percent year-on-year to 589.6 billion won.

Ssangyong's labor union is scheduled to hold a news conference
today to state its position toward the pact.

CONTACT:

Ssangyong Motor Company Limited
150-3 ChilgoE-dong
Pyeongtaek-si, Kyonggi 459-711
Korea (South)
Telephone: +82 31 610 1114
           +82 31 610 3739


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


ANCOM BERHAD: Issues Shares Buy Back Notice
-------------------------------------------
Ancom Berhad announced the details of its shares buy back on
October 15, 2004.
   
Date of buy back from: 04/10/2004

Date of buy back to: 12/10/2004

Total number of shares purchased (units): 59,300

Minimum price paid for each share purchased (RM): 0.785

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

Total amount paid for shares purchased (RM): 47,543.51

The name of the stock exchange through which the shares were
purchased: BURSA MALAYSIA SECURITIES BERHAD

Number of shares purchased retained in treasury (units): 59,300

Total number of shares retained in treasury (units): 5,088,200

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

Total issued capital as diminished: 201,856,767

Date lodged with registrar of companies: 15/10/2004

Lodged by: PFA Corporate Services S/B, Level 14, Uptown 1,
D'sara Uptown, 47400 PJ

CONTACT:

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


AYER HITAM: Lenders Reject Unit's Request for Further Indulgence
----------------------------------------------------------------
Ayer Hitam Tin Dredging Malaysia Berhad refers to its
announcements made to the Bursa Malaysia Securities Berhad on 27
August 2004 and 28 September 2004 on the current status of the
syndicated term loan defaulted by the Company's wholly owned
subsidiary, Motif Harta Sdn Bhd (MHSB) with Alliance Bank
Malaysia Berhad, EON Finance Bhd, Mayban Finance Bhd and
Kewangan Bersatu Bhd (hereinafter referred to as the Lenders).

AHTIN announced that the Lenders have rejected MHSB's request
for a further indulgence for the deferment of the repayment of
the above syndicated term loan. The Lenders have requested from
MHSB that the amount due to the Lenders as at 30 September 2004
amounting to RM23,870,518.32 be settled forthwith after which
the balance interest payable on the same will be computed. The
Lenders further indicated that if MHSB fails to make prompt
repayment of the amounts due, they shall be compelled to
instruct solicitors to proceed to take further action for the
recovery of the amounts due.

CONTACT:

Ayer Hitam Tin Dredging Malaysia Berhad
No 8 Jalan Raja Chulan
Kuala Lumpur, 50200
MALAYSIA
+60 3 2031 9633
+60 3 2031 6920


FABER GROUP: Wants To Exit Local Hotel Business
-----------------------------------------------
Faber Group Berhad wants to exit the local hotel industry and
plans to sell seven hotels, Dow Jones reports, quoting Managing
Director Noorizah Abdul Hamid.

The group will, however, keep its stake in the Hanoi-based Hotel
Sheraton, as returns are high.

The group is on the verge of losing its Practice Note No. 4/2001
(PN4) status. Malaysian regulators classify companies as PN4 if
they are in financial trouble.

CONTACT:

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


FABER GROUP: Posts Additional Listing of Shares
-----------------------------------------------
Faber Group Berhad's additional 136,900 new ordinary shares of
RM1.00 each issued pursuant to the conversion of RM273,800
nominal value of 2000/2005 irredeemable convertible unsecured
loan stocks into 136,900 new ordinary shares will be granted
listing and quotation with effect from 9 a.m., Tuesday, 19
October 2004.


FARLIM GROUP: Receives Financial Assistance
-------------------------------------------
Pursuant to Paragraphs 8.23 and 10.08 of Listing Requirements of
Bursa Malaysia Securities Berhad, Farlim Group Berhad announced
the financial assistance rendered to the Company and its
subsidiaries as at 15 October 2004.

For more information, go to
http://bankrupt.com/misc/tcrap_farlim101604.xls

CONTACT:

Farlim Group Berhad
No. 2-8, Bangunan Farlim
Jalan PJS 10/32, Bandar Sri Subang
46000 Petaling Jaya, Selangor
Telephone: 03-5635 5533
Fax: 03-5635 0301
Website: http://www.farlim.com.my


KSU HOLDINGS: Releases Litigation Update
----------------------------------------
Further to the announcements dated 24 September 2003, 7 October
2003, 10 October 2003, 11 December 2003, 18 February 2004 and 9
July 2004, KSU Holdings Berhad disclosed the following in
respect of the Kuala Lumpur High Court Suit No. D6-22-308-2003
(D6 Suit), which was heard in court on 14 October 2004:

(1) The Judge reserved her decision on the Company's application
for a Stay/Erinford Injunction (Application). The decision on
the Application will be delivered on 5 November 2004.

(2) The Company's application to strike out the counterclaim
filed by the Defendants will be mentioned on the same day.

CONTACT:

KSU Holdings Berhad
No. 1116B & C, 2nd & 3rd Floor
Persiaran Raja Muda Musa
41100 Klang
Selangor Darul Ehsan
Tel: 03-33739191
Fax: 03-33747763


MWE HOLDINGS: Ends Association With Subsidiary
----------------------------------------------
The Board of Directors of MWE Holdings Berhad (MWE) disclosed to
the Bursa Malaysia Securities Berhad that PI International
Holdings Limited (PIIH), a company incorporated in the British
Virgin Islands, has cease to be a subsidiary of Davex Holdings
Berhad (DHB), a 92.89% subsidiary of MWE with effect from 15
October 2004. However, PIIH shall remain as an associated
company.

This dilution is due to the allotment and issue of 750,000
ordinary shares of USD0.10 each to the employees of PIIH under
an employee share scheme (ESS). Arising there from, the
percentage of shareholding interest of DHB in PIIH has been
diluted from 5 1% to 44%.

INFORMATION ON PIIH

The authorized share capital is USD1,000,000/- divided into
10,000,000 ordinary shares of USD0.10 each. After the allotment
and issue of the ESS shares, the total issued and paid-up share
capital has increased from USD504,000/- divided into 5,040,000
ordinary shares of USD0.10 each to USD579,000/- divided into
5,790,000 ordinary shares of USD0.10 each. The principal
activity of PIIH is that of investment holding.

FINANCIAL EFFECT

Arising from the dilution of its interest in PIIH, the MWE Group
expects to incur a charge of approximately RM2.7 million to the
income statement and an increase of approximately RM0.5 million
in minority's share of profit after tax in the financial year
ending 31 December 2004.

DIRECTORS' AND SUBSTANTIAL SHAREHOLDERS' INTEREST

To the best knowledge of the Board of Directors, none of the
Board of Directors nor substantial shareholders of MWE or
persons connected to the directors or substantial shareholders
has any interest, direct or indirect in the above dilution.

CONTACT:

MWE Holdings Berhad
Plaza Monterez
No.1, Jalan Merah Kesuma
U9/18, Seksyen U9
40000 Shah Alam
Tel: 04 - 5824811
Fax: 04 - 5824707


OCEAN CAPITAL: Unit Shuts Down Business Operations
--------------------------------------------------
Ocean Capital Berhad announced to the Bursa Malaysia Securities
Berhad that Pasaraya Hugo (Kajang) Sdn. Bhd. outlet, a wholly
owned subsidiary of Ocean, has ceased its business operations
with effect from Friday, 15 October 2004.

CONTACT:

Ocean Capital Berhad
No. 43B, 2nd Floor
Changkat Bukit Bintang
50200 Kuala Lumpur
Telephone: 03-21480700
Fax: 03-21454825

This announcement is dated 15 October 2004.


OILCORP BERHAD: Completes Shares Sale Agreement
-----------------------------------------------
With reference to the announcement made on 20 September 2004 on
the Proposed Disposal of a 100% equity interest in Tenaga Nazar
(M) Sdn Bhd (TNSB), an indirect wholly owned subsidiary of
Oilcorp Berhad, the Board of Directors of OilCorp announced that
the salient terms and conditions precedent stated in the Share
Sale Agreement entered into between Oil-Line Engineering &
Associates Sdn Bhd and Techbest Engineering Sdn Bhd on 20
September 2004, have been duly fulfilled.

The proposed disposal has been completed on 15 October 2004.

CONTACT:

Oilcorp Berhad
No 2-2 Jalan SS 6/6 Kelana Jaya
47301 Petaling Jaya  Selangor Darul Ehsan
MALAYSIA
Phone: +60 3 7804 4843

This announcement is dated 15 October 2004.


PANTAI HOLDINGS: Purchases 16,900 Ordinary Shares on Buy Back
-------------------------------------------------------------
Pantai Holdings Berhad disclosed the details of its shares buy
back on October 15, 2004.
   
Date of buy back: 15/10/2004

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

Total number of shares purchased (units): 16,900

Minimum price paid for each share purchased (RM): 0.835

Maximum price paid for each share purchased (RM): 0.835

Total consideration paid (RM): 14,216.82

Number of shares purchased retained in treasury (units): 16,900

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

Cumulative net outstanding treasury shares as at to-date
(units): 24,040,400

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

CONTACT:

Pantai Holdings Berhad
3rd Floor, Block B
Pantai Medical Centre
No. 8 Jalan Bukit Pantai
59100 Kuala Lumpur
Tel: 03-22879822
Fax: 03-22873822
Web site: http://www.pantai.com.my/


PSC INDUSTRIES: Terminates Debt Purchase Deal
---------------------------------------------
PSC Industries Berhad (PSCI) announced that Business Focus
Capital Sdn Bhd (BF Capital) had vided its letter dated 15
October 2004 informed the Company that Affin Bank Berhad (ABB)
had terminated the debt purchase arrangement between BF Capital
and ABB (Arrangement) which forms part of the Proposed Debt
Restructuring.

In the same letter, BF Capital had stated that it will not
accept the said termination and maintained its position that the
Arrangement is still subsisting on the grounds that BF Capital
had complied with its obligation. BF Capital will be pursuing
with ABB to reconsider their decision.

In addition, PSCI and its subsidiary, Penang Shipbuilding &
Construction Sdn Bhd had on 14 October 2004 received letters
from ABB demanding the repayment of an aggregate amount of
RM408,652,243.06 under its credit facilities. The Company will
be seeking further clarification from ABB pertaining to the said
demand letters.

Collectively referred to as the Revised Proposals:

Proposed Debt Restructuring; and
Proposed Restricted Offer for Sale

CONTACT:

Psc Industries Berhad
Jalan Bukit Nanas
Kuala Lumpur, 50250
Malaysia
Tel: +60 3 201 6516
Tel: +60 3 232 6214

This announcement is dated 15 October 2004.


TALAM CORPORATION: Resells, Cancels Treasury Shares
---------------------------------------------------
In a disclosure to Bursa Malaysia Securities Berhad, Talam
Corporation Berhad issued a notice of Resale and Cancellation of
Treasury Shares on 15 October 2004.

Date of transaction: 15/10/2004

Total number of treasury shares sold (units):  3,000,000

Total number of treasury shares cancelled (units):  

Minimum price paid for each share sold (RM): 1.150

Maximum price paid for each share sold (RM): 1.160

Total amount received for treasury shares sold (RM):
3,455,000.00

Cumulative net outstanding treasury shares as at to-date
(units): 124,400

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

CONTACT:

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


TRU-TECH HOLDINGS: Issues Default Status Update
-----------------------------------------------
On 17 September 2004, Avenue Securities Sdn Bhd (Avenue) on
behalf of Tru-tech Holdings Berhad, announced that the Company
was not able to make the monthly deposit of RM1,200,000 due on
17 September 2004 towards the sinking fund accounts for the
purposes of redemption of the RM55,000,000 nominal amount of
redeemable unsecured loan stock (RULS), due to Tru-Tech's
current tight cash flow position.

In relation the above and further to the announcement dated 17
October 2003, Avenue, on behalf of the Board of Directors of
Tru-Tech (Board), announced that RM12,000,000 nominal amount of
the RULS and the coupon of RM1,260,000 are due for redemption
and payment, respectively on 18 October 2004 pursuant to the
Trust Deed dated 18 October 1996 as amended by the Supplemental
Trust Deed dated 16 November 2001 and the 2nd Supplemental Trust
Deed dated 10 September 2003 (collectively, the Trust Deed).

Pursuant to the Practice Note 1/2001 of the Listing Requirements
of Bursa Malaysia Securities Berhad (formerly known as Malaysia
Securities Exchange Berhad) (Bursa Securities), Avenue on behalf
of the Board, wishes to announce that the Company will not be
able to make the said redemption and interest payments
aggregating RM13,260,000 due on 18 October 2004 due to Tru-
Tech's current tight cashflow position (Default).

MEASURES TAKEN TO ADDRESS THE DEFAULT

The Company is currently in discussion with the RULS holders to
address the Default. In addition, the Company is in the process
of finalizing a comprehensive restructuring plan to regularize
its financial condition. On 27 May 2004, Avenue, on behalf of
the Board, announced that Tru-Tech had on 26 May 2004, entered
into an agreement with Yap Sing Lee, Yap Seng Maw and Yap Sheng
Poo (Vendors) wherein Tru-Tech and the Vendors have agreed to
undertake a restructuring scheme with the intention of restoring
Tru-Tech onto stronger financial footing via an injection of new
viable business. The details of the restructuring plan will be
announced once it is finalized.

FINANCIAL AND LEGAL IMPLICATIONS TO TRU-TECH

The legal implications to Tru-Tech in respect of the Default are
similar to that of the Default, which had been set out in the
announcement dated 17 October 2003.

In addition, the Default constitutes an event of default in
respect of all other credit facilities granted to Tru-Tech and
its subsidiaries as set out in Table 1
http://bankrupt.com/misc/tcrap_trutech101604.doc.

OTHER INFORMATION

Bursa Securities will be updated on a monthly basis on the
status of the Default and the steps to be taken to address the
Default until such time when the Default is remedied.

CONTACT:

Tru-Tech Holdings Berhad
Lot 45, Batu 12, Jalan Johor Bahru
Kota Tinggi, Mukim Plentong,
81800 Ulu Tiram, Johor
Malaysia
Telephone  (60) 3 7861 5220
Fax  (60) 3 7861 7972

This announcement is dated 15 October 2004.


* Corporate Litigation Conference Set December 8
------------------------------------------------
The Malayan Law Journal Sdn Bhd announces that a "Corporate
Litigation Conference" will be held at the Hilton Hotel,
Petaling Jaya, Kuala Lumpur, on 8 December 2004 at 9 a.m. to
5:30 in the afternoon.

The conference will explore some of the issues that may give
rise to a corporate litigation suit and in analyzing past
precedents, provides useful tips on how such situations can be
avoided.

Conference Programme

(1) Minority Shareholder's Disputes

Types of disputes
Causes of action and remedies
Derivative action for fraud on minority
Managing minority rights in an effective way
Buying out of minority shareholders
Case analysis on recent minority shareholders disputes

(2) Board Tussle

Appointment of Board of Directors
Validity of company meetings
Injunctions and other interim remedies against the company
Winding up on just and equitable grounds due to oppression of
minority interests
Removal of Board of Directors / directors
Practical tips in managing corporate disagreements
Case analysis on recent board tussles

(3) Directors' Duties, Rights and Liabilities

Director's Remuneration
Compensation for loss of office under s 137 Companies Act 1965
Necessity of a company's resolution
Ratification of Directors' actions
Legality of director's compensation
Directors' and Officers' Insurance Policy
Termination and removal of directors
Role of Non Executive Directors

(4) Options and remedies in Corporate Litigation

Winding up

Buy out / Compulsory Acquisition of shares
Utilisation of Shareholder's funds
Scheme of Arrangement under s 176 Companies Act 1965
Case analysis: Guthrie's Rationalisation exercise

Speakers/ Moderators/ Penalists:

Lee Swee Seng, Advocate &
Solicitor, Certified Mediator,
Tr ademarks and Industrial Designs
Agent, Managing Partner of M/s
Lee Swee Seng

Ramesh Sathasivam, Advocate &
Solicitor, Partner, Adnan Sundra & Low

Gopal Sreenevasan, Advocate &
Solicitor, Partner, Sivananthan

Lim Chee Wee, Advocate &
Solicitor, Partner, SKRINE

WHO SHOULD ATTEND

Legal Counsel and Executives
Company Secretaries
Lawyers

For enquiries, please contact:

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


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


COLLEGE ASSURANCE: SEC Rejects Appointment of Investor
------------------------------------------------------
The Securities and Exchange Commission has rejected the proposal
of College Assurance Plans (CAP) Philippines to include its
investor Romeo Roxas on the oversight committee, ABS-CBN News
reports.

The commission will decide this week on who to appoint as new
members of the three-member oversight committee, which was
created to oversee CAP's financial performance.

Ms. Barin said Mr. Roxas couldn't be named as a member of the
oversight committee for CAP since he is a potential investor in
the company. She said appointing Mr. Roxas to the oversight
committee would result in conflict of interest.

Roxas' two companies Green Circle Property Corp. and Greensquare
Property Corporation will infuse a Php6 billion property in
CAP's trust fund, in exchange for preferred shares in the pre-
need company. CAP had already signed the property-share-swap
agreement with the two property firms.

The last member of the SEC-created oversight committee recently
resigned. CAP comptroller Nonelonia Ambat resigned on October 1,
due to personal reasons, while oversight committee Chairman
Danilo Concepcion and SEC lawyer Carlo Taparan had earlier
resigned.

CONTACT:

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


COLLEGE ASSURANCE: CAP Technically Insolvent, Says New SEC Chief
----------------------------------------------------------------
The Securities and Exchange Commission (SEC) has declared the
pre-need firm, College Assurance Plans Philippine Inc.,
technically insolvent, as its assets exceeded its liabilities,
Yehey Finance reports, citing SEC Chairman Fe B. Barin.

The commission is still studying whether the PhP6 billion
property to be infused by businessman Romeo G. Roxas in CAP
would be enough to meet the SEC's requirements for the pre-need
firm's petition to have its dealer's license renewed and to sell
additional plans worth PhP1 billion.

Mr. Roxas is a Director of the Philippine Veterans Bank, one of
the trustee banks of CAP. He also owns Green Circle and Green
Square Property Corporation, the companies that will infuse a
3,000-hectare property in Quezon, valued at PhP200 per square
meter, in CAP's trust assets in exchange for one board seat in
the pre-need firm.


COLLEGE ASSURANCE: Questions SEC Refund Order
---------------------------------------------
College Assurance Plan Philippines Inc. is questioning the order
issued by the Securities and Exchange Commission (SEC) directing
the pre-need firm to return investments it had accepted on
account of sales of unregistered plans, reports the Philippine
Star.

"The order was signed only by the Securities Department head
Emil P. Aquino. Any order has to come from the Commission en
banc in order for it to be implemented. This was not even
discussed by the Commission en banc," CAP First Vice-President
Booby Cafe said.

The order issued by Mr. Aquino requires the Company to refund
investments made by plan holders with respect to unregistered
plans since the pre-need firm's dealership license had already
expired last September 30.

Without a dealership license, CAP could not sell securities to
the public.

Mr. Cafe said CAP had already written the Commission en banc
about the matter and is just awaiting their comment. He said the
pre-need firm would only comply with the directives if these had
the backing of the Commission.


NATIONAL STEEL: Indian Steel Giant Completes Takeover
-----------------------------------------------------
Global Infrastructure Holdings Ltd. (GIHL) has finally completed
a Php13.25 billion deal for the acquisition of National Steel
Corporation (NSC), now known as Global Steelworks International
Inc. (GSII), ABS-CBN News reports.

The Iligan steel firm obtained the required certificate of
eligibility (COE) from the Bangko Sentral ng Pilipinas, allowing
it to avail itself of incentives under Republic Act 9182,
otherwise known as the Special Purpose Vehicle (SPV) Act of
2003.

GSII President Sushant Das said GIHL's operating arm Global
Steelworks International (SPV-AMC) Inc. and land-owning vehicle
Global Ispat Holdings (SPV-AMC) Inc. undertook the final
exchange of documents with the creditor banks and the liquidator
appointed by the Securities and Exchange Commission.

Representing GSII and GIHI were Das and Ramesh Bhosale,
Director.  Atty. Danilo Castro of Philippine National Bank
(PNB), represented the secured creditors, and Atty. Danilo
Concepcion, as NSC Liquidator, represented the seller.

NSC's complex has a rated capacity of 1.2 million metric tons of
steel products per year, including hot rolled coils (HRCs) and
plates, cold rolled coils (CRCs) and plates, tin plates and
steel billets.

Production of hot rolled coils (HRCs) will start with an initial
30 to 40 percent of its capacity on the first month and will
ramp up production on the third month. The company intends to
reach one million metric tons in six months and two million
metric tons by the end of next year. The steel firm plans to
hire 1,000 direct employees.

CONTACT:

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


NEGROS NAVIGATION: Sets Tender Offer For Shipping Unit
------------------------------------------------------
Metro Pacific Corporation has extended a Php13.6 million tender
offer to the minority shareholders of its shipping unit Negros
Navigation Inc. to delist the firm as part of its
rehabilitation, the Business World reports. The tender offer
will run from October 20 to November 17.

Metro Pacific announced last week its intention to acquire 100%
of the fully diluted share of Nenaco. The firm currently owns
97.19% or 2.9 billion shares of Nenaco's outstanding capital
stock.

The tender offer paves the way for Metro Pacific to acquire the
remaining 2.81% or 84.9 million common shares of Nenaco, which
will be crossed on November 29 subject to the approval of the
Philippine Stock Exchange (PSE).

Nenaco shareholders on record as of October 15 are entitled to
tender all or a portion of their shares for acceptance and
purchase by Metro Pacific.

CONTACTS:

Metro Pacific Corporation
10/F MGO Bldg., Legazpi cor. dela Rosa St.,
Legazpi Village 0721 Makati City, Philippines
Telephone No.: 888-0888
Fax No.: 888-0830

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


MANILA ELECTRIC: Unveils Amended Quarterly Report
-------------------------------------------------
The Manila Electric Company (MER) has furnished the Philippine
Stock Exchange a copy of its Amended Quarterly Report, using SEC
Form 17-Q, for the quarter ended June 30, 2004.

A copy of the report shall be made available at
http://bankrupt.com/misc/tcrap_meralco101804.pdf.

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

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


PHILIPPINE TELEGRAPH: AGM Set On December 3
-------------------------------------------
The Management of Philippine Telegraph and Telephone Corporation
announces the Annual Meeting of Stockholders will be held on
Friday, December 3, 2004 at 3:00 in the afternoon.

The venue of the meeting will be announced, as soon the
information is available. The record date for determining the
stockholders entitled to notice of the meeting and to vote is
the close of business hours of October 29,2004.

CONTACT:

Philippine Telegraph & Telephone Corp.
SJS Building, Casino St.
Barangay Palanan, Makati City
Telephone Numbers:  818-0511 to 18
Fax Number:  894-4622
Web site: http://www.ptt.com.ph


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


GREATER ASIAN: Creditors Meeting Scheduled on November 19
---------------------------------------------------------
Notice is hereby given pursuant to Section 308 of the Companies
Act, that the Final Meeting of the members and creditors of
Greater Asian Development Corporation Pte Ltd will be held at 3
Phillip Street, #18-00 Commerce Point, Singapore 048693 on 19th
November 2004 at 10:00 a.m. for the purposes stated in Sections
308 and 320 (3) of the Companies Act, Cap. 50.

Shanker Iyer
Liquidator

Note: Any member or creditor entitled to attend and vote at this
meeting is entitled to appoint another person (whether a member
or creditor or not) as his proxy to attend and vote in his
stead. All proxies should be deposited at the Liquidator's
office not less than forty-eight hours before the time of
holding the meeting and any adjournment thereof.

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


KOH BROTHERS: Posts Change in Shareholder's Interest
----------------------------------------------------
Koh Brothers Group Limited on October 15 released at the
Singapore Stock Exchange pertaining to the change in the
Percentage Level of the Interest of Quek Chee Nee.

Part I

(1) Date of notice to issuer: October 15, 2004
  
(2) Name of Director and Substantial Shareholder: Quek Chee Nee

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

Part II

(1) Date of change of shareholding: October 14, 2004
  
(2) Name of Registered Holder: Daiwa Securities SMBC Singapore
Limited - nominee
  
(3) Circumstance(s) giving rise to the interest or change in
interest: Sales in open market at own discretion

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

No. of shares held before the change: 1,187,000
As a percentage of issued share capital: 0.247
  
No. of shares which are the subject of this notice: 232,000
As a percentage of issued share capital: 0.0484
  
Amount of consideration (excluding brokerage and stamp duties)
per share paid or received: SG$0.10
  
No. of shares held after the change: 955,000
As a percentage of issued share capital: 0.199

Part III

(1) Date of change of interest:  
  
(2) The change in the percentage level: From % to %
  
(3) Circumstance(s) giving rise to the interest or change in
interest:  

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

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

                                             Direct      Deemed
No. of shares held before change:         8,067,000           0
% of issued share capital:                   12.107           0
   
No. of shares held after change:         57,835,000           0
% of issued share capital:                   12.059           0

Submitted by:
Lee Suyin
Company Secretary


KOH BROTHERS: Shareholder's Interest Changes
--------------------------------------------
Koh Brothers Group Limited on October 15 released at the
Singapore Stock Exchange pertaining to the change in the
Percentage Level of the Interest of Quek Chee Nee.

Part I

(1) Date of notice to issuer: October 15, 2004
  
(2) Name of Director and Substantial Shareholder: Quek Chee Nee

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

Part II

(1) Date of change of shareholding: October 13, 2004
  
(2) Name of Registered Holder: Daiwa Securities SMBC Singapore
Limited - nominee
  
(3) Circumstance(s) giving rise to the interest or change in
interest: Sales in open market at own discretion

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

No. of shares held before the change: 1,835,000
As a percentage of issued share capital: 0.383
  
No. of shares which are the subject of this notice: 648,000
As a percentage of issued share capital: 0.1351
  
Amount of consideration (excluding brokerage and stamp duties)
per share paid or received: SG$0.10
  
No. of shares held after the change: 1,187,000
As a percentage of issued share capital: 0.247

Part III

(1) Date of change of interest:  
  
(2) The change in the percentage level: From % to %
  
(3) Circumstance(s) giving rise to the interest or change in
interest:  

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

Part IV

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

                                                Direct    Deemed
No. of shares held before change:           58,715,000         0
% of issued share capital:                      12.242         0
   
No. of shares held after change:            58,067,000         0
% of issued share capital:                      12.107         0

Submitted by:
Lee Suyin
Company Secretary


LINK OCEAN: Creditors to Submit Claims by November 16
-----------------------------------------------------
Notice is hereby given that the creditors of Link Ocean Pte Ltd,
which is being wound up voluntarily, are required on or before
the 16th 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 by the said Liquidators,
they are to come in personally or by their solicitors and 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.

Chee Yoh Chuang
Lim Lee Meng
Liquidators
18 Cross Street
#08-01 Marsh & McLennan Centre
Singapore 048423

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


MAERSK OFFSHORE: Creditors Must Prove Debts by November 16
----------------------------------------------------------
Notice is hereby given that the creditors of Maersk Offshore
(Singapore) Pte Ltd, which is being wound up voluntarily, are
required on or before the 16th 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 by the said Liquidators,
they are to come in personally or by their solicitors and 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.

Teo Siew Kim
Liquidator
c/o 200 Cantonment Road
#11-00 Southpoint
Singapore 089763

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


TRANSPO ELECTRONICS: Enters Winding up Proceedings
--------------------------------------------------
Notice is hereby given that the creditors of Transpo Electronics
Asia Pte Ltd, which is being wound up voluntarily, are required
on or before the 16th 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 by the said Liquidators,
they are to come in personally or by their solicitors and 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.

Hamish Alexander Christie
Liquidator
c/o 16 Raffles Quay
#22-00 Hong Leong Building
Singapore 048581

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


WEE POH: Complies with Rule 723 of SEST Listing Manual
------------------------------------------------------
The Board of Directors of Wee Poh Holdings Limited refers to its
Annual Report for the financial year ended 30 June 2004, copies
of which were circulated to the members on 14 October 2004. The
Board of Directors wished to provide the following information
relating to the percentage of shareholding in the Company held
in the hands of public, which has been omitted in the page 52 of
the Annual Report:

Based on the information available to the Company as at 30
September 2004, approximately 80.2074% of the issued ordinary
shares of the Company is held by the public and, therefore, Rule
723 of the Listing Manual issued by the Singapore Exchange
Securities Trading Limited is complied with.

By Order of the Board

Chan Wang Kin
Managing Director


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


BANGKOK RUBBER: Issues Progress of Business Rehab Plan
------------------------------------------------------
Bangkok Rubber Public Company Limited (BRC) reported to the
Stock Exchange of Thailand (SET) the progress of its
rehabilitation plan in accordance to the request of the SET.

BRC currently has progressively operated the following according
to the business reorganization plan:

(1) Payment to the company's creditors and guarantee obligations
to related company as at 30 September 2004 totaling THB427
million, and payment by conversion of debt to equity at the
price of THB17 per share unit, totaling THB710 million.

(2) Registration of the increase in paid-up capital to be in
compliance with the number of ordinary shares of the Company,
which are allocated to the creditors.

The Company has allocated 41,766,690 ordinary shares as part of
its increased share capital to the Company's creditors and
guarantee obligations creditors to related companies by issuing
30,268,824 and 11,497,866 ordinary shares, respectively. As a
result, the Company has paid-up capital by THB1,392,666,900 or
139,266,690 ordinary shares of THB10 each.

Sincerely Yours,
(Mr.Prasert Chulthira) (Mr.Boonsong Tondulyakul)
Authorized Director
B.R.C. Planner Company Limited
As The Plan Administrator Of
Bangkok Rubber Public Company Limited    

CONTACT:

Bangkok Rubber Public Company Limited   
611/40 Soi Raj-Utit 2, Bangkhlo, Yan Nawa Bangkok    
Telephone: 0-2689-9500   
Fax: 0-2291-1353   
Web site: www.pan-group.com


SIAM AGRO: Implements Rehab Plan to Avoid Delisting
---------------------------------------------------
As requested by the Stock Exchange of Thailand, Siam Agro
Industry Pineapple and Others Public Company Limited reported
the progress of its business rehabilitation plan as at September
30, 2004.

Siam Agro Industry Pineapple and Others Public Company Limited
whose shares have been traded under the REHABCO sector has
already implemented a Rehabilitation Plan to remedy the cause of
being de-listed from the SET.

The process of rehabilitating the business commenced on April
30, 1999 when the Company signed the Debt Restructuring
Agreement with its major creditor Kasikornbank (KBANK), formerly
Thai Farmer Bank Plc. and thereafter submitted a Rehabilitation
Plan that was approved at a Shareholders' meeting on August 16,
1999.

Since the injection of new equity in April 1999, the Company has
made significant progress in rehabilitating and securing the
business for long-term growth as highlighted in the attached
report.

To view a full copy of the report, click
http://bankrupt.com/misc/SAICO101804.htm

For your consideration
Yours sincerely,
Praful Shah
(Managing Director)

CONTACT:

Siam Agro-Industry Pineapple And Others Pcl   
Ocean Tower 2, Floor38,
75/105 Sukhumvit Road,
Watthana Bangkok    
Telephone: 0-2661-7878   
Fax: 0-2661-7865   
Website: www.saico.co.th
  

THAI WAH: Unveils Strategies to Return to Positive Equity
---------------------------------------------------------
Thai Wah Public Company Limited filed to the Stock Exchange of
Thailand (SET) a report regarding the progress of the
implementation of the Business Reorganization Plan from the end
of March 2004 to the end of September 2004 period and the
company also unveils its strategies to return the Company to
positive equity.  

(1) Sales of non-core assets

The company refers to the letter to the Stock Exchange of
Thailand dated 21 July 2004.  

Following the termination of the sales of a group of certain
non-core assets of the Company to a potential investor, Class B
directors of the Plan Administrator have continued to work with
the Creditors' Committee to sell the non-core assets in
accordance with the Plan.  A number of proposals to purchase
certain assets have been received.  The Creditors' Committee has
yet to conclude the terms and conditions and will make a final
decision in due course.   

The Company received a repayment of convertible loan stock from
Tropical Resorts Ltd., which is a non-core asset of the Company
in the amount of US$1,559,925.  This amount has been used to
repay the creditors in accordance with the Plan.

(2) Transfer of the contingent creditor's claim
   
The Central Bankruptcy Court has read the order of the Supreme
Court on 17 August 2004 in relation to the claim of the
Company's contingent creditor, Everen Investment Pte Ltd
(Everen).  The Supreme Court ruled that the claim of Everen in
the Company is valid and binding in the amount of US$9,052,843.  
This is less than the US$22,950,000 that Everen claimed in the
Company's business reorganization.  

As such, Everen's claim has been transferred from Class 5
Creditors (Contingent Creditors) to Class 1 Creditors (USD
Creditors) in accordance with the Plan.  The Company has
remitted the fund in the Reserve Account to Everen in the amount
of US$1.03 million and to Classes 1 and Classes 2 in the amount
of THB7.60 million.  In addition, additional shares in the
Company of 3,459,794 shares are to be issued as part of the debt
to equity conversion to the creditors in accordance with the
Plan.        

(3) Strategies to return the Company to positive equity

The Class B directors of the Plan Administrator have met with
the Stock Exchange of Thailand and are aware of the timeframe
that is required to return the Company to positive equity.  The
company is therefore currently in the process of finalizing a
strategy to comply with the timeframe.   

Yours sincerely,
Ian Pascoe
Class B Director of Wah Group Planner Co Ltd,
as the Plan Administrator of Thai Wah PCL.  
Thai Wah Group Planner Company Limited

CONTACT:

Thai Wah Public Company Limited   
Thai Wah Tower, Floor 21-22, 21/63-66
South Sathon Road, Sathon Bangkok    
Telephone: 0-2285-0040, 0-2285-0241-56   
Fax: 0-2285-0269-70   
Website: www.thaiwah.com
  

TUNTEX THAILAND: Informs SET on Progress of Rehab Process
---------------------------------------------------------
Tuntex (Thailand) Public Company Limited, as the Plan
Administrator of Tuntex (Thailand) Public Company Limited,
informed the Stock Exchange of Thailand (SET) on Central
Bankruptcy Court's order dated 17 September 2004 and the
resolutions of the Plan Administrator's Board of Directors'
Meeting No. 6/2547 held on 30 September 2004 with regard to the
rehabilitation of Tuntex's business to SET:

(1) Tuntex has reduced the share capital for unsold or yet to be
sold shares of THB180,000,000.  

For this purpose, the amount of 18,000,000 ordinary shares with
the par value of THB10 per share that was left unsold were
annulled.  After such reduction of capital, Tuntex had THB      
2,780,000,000 registered capital, divided into 278,000,000 paid-
up ordinary shares with the par value of THB10 per share.

(2) Tuntex has amended its Memorandum of Association to be in
line with the reduction of capital.  

Such amendment was made by repealing the provision in Clause 4
and replace it with the following:

Clause 4   

Registered Capital THB2,780,000,000 (Two Thousand Seven Hundred
and Eighty Million Baht) Divided into 278,000,000 Shares (Two
Hundred Seventy-Eight Million Shares Each with the value of
Being THB10 (Ten Baht) Ordinary Shares 278,000,000 Shares(Two
Hundred Seventy-Eight Million Shares)  Preference Shares  - None

(3) Tuntex has increased its capital for another
THB8,000,000,000 by issuing 800,000,000 newly issued ordinary
shares with the par value of THB10 per share.  As such, Tuntex's
capital has increased from THB2,780,000,000 to
THB10,780,000,000, which is in line with the provision of the
Plan.

(4) Tuntex has amended its Memorandum of Association to be in
line with the increase of capital.  

Such amendment was made by repealing the provision in Clause 4
and replace it with the following:

Clause 4   

Registered Capital THB10,780,000,000 (Ten Thousand Seven Hundred
Eighty Million Baht) Divided into 1,078,000,000 Shares (One
Thousand Seventy-Eight Million Shares) Each with the                   
value of Being THB10 (Ten Baht) Ordinary Shares 1,078,000,000
Shares (One Thousand Seventy-Eight Million Shares) Preference
Shares- None

(5) Tuntex has amended its Articles of Association by repealing
the provisions in Clause 7 and replace them with the following:

Clause 7

The Company's shares may be freely transferable except

(1) When such transfer of shares will have negative effect to
the Company's rights and benefits entitled under the laws; or

(2) For the case required complying with the laws.

Please be informed accordingly.  

Further progress will be reported at later stages.

Sincerely yours,
Authorized director
(Mr. Yang Jin-Tu)
Tuntex (Thailand) Public Company Limited, Plan Administrator of
Tuntex (Thailand) Public Company Limited

CONTACT:

Tuntex (Thailand) Pcl   
Bb Building, Floor 20,
54 Sukhumvit 21 Road,
(Asoke) Klongtoey Nua,
Wattana Bangkok    
Telephone: 0-2260-8020-41   
Fax: 0-2260-8055   
Web site: www.tuntexthailand.com
  

TUNTEX THAILAND: Releases Capital Increase Report
-------------------------------------------------
Tuntex Thailand Public Company Limited furnished the Stock
Exchange of Thailand a copy of its capital increase report form.

Capital Increase Report Form Of Tuntex (Thailand) Public Company
Limited 14 October 2004

Tuntex (Thailand) Public Company Limited, as the Plan
Administrator of Tuntex (Thailand) Public Company Limited,
hereby would like to report the Court's order dated 17 September
2004 and the resolutions of the Board of Directors' Meeting No.
6/2547 held on 30 September 2004 in respect of capital increase:

(1) Capital Reduction / Increase

Whereas the Business Rehabilitation Plan of Tuntex requires that
Tuntex's capital be reduced / increased as follows:

(1.1) The Court ordered on 17 September 2004 to approve and the
Board of Directors' Meeting No. 6/2547 on 30 September 2004
passed the resolution approving the reduction of capital for
unsold or yet to be sold shares of THB180,000,000.  For this
purpose, the amount of 18,000,000 ordinary shares with the par
value of THB10 per share that was left unsubscribed were
annulled.  After such reduction of capital, Tuntex had
THB2,780,000,000 registered capital, divided into 278,000,000
paid-up ordinary shares with the par value of THB10 per share;
and

(1.2) The Court also ordered on 17 September 2004 to approve and
the Board of Directors' Meeting No. 6/2547 also passed the
resolution approving the increase of capital for another THB    
8,000,000,000 by issuing 800,000,000 newly issued ordinary
shares with the par value of THB10 per share.  

As such, Tuntex's capital has increased from THB2,780,000,000 to
THB10,780,000,000.

The issuance of shares for capital increase as mentioned above
is subject to the conditions, objectives and time frames
provided in the Plan, which has been approved by the Court.

(2) Schedule For Shareholders' Meeting To Approve Capital
Increase

Since Tuntex is now in the business rehabilitation proceeding,
no shareholders' meeting will be held to approve the increase of
capital (pursuant to Section 90/25 of the Bankruptcy Act.).

(3) Pplication For Approval Of Relevant Government Agencies For
Capital Increase And Conditions Thereto

The Plan Administrator has registered the increase of capital
with the Company and Partnership Official Registrar of the
Department of Business Development, Ministry of Commerce, and
will coordinate with the Share Registrar of the Tuntex, which is
the Thailand Share Depository Company Limited, and relevant
governmental authorities for further actions.

(4) Objectives Of Capital Increase And The Plan To Utilize The
Proceeds From Capital Increase

The Plan Administrator will issue the new ordinary shares and
transfer the ownership of which to the creditors of Tuntex in
lieu of repaying the debt in cash in accordance with the Plan,
which was previously approved by the Court.

(5) Benefits To Tuntex From Capital Increase

This capital increase is an action required under the Plan.  The
capital increase will be used for debt repayment programs
provided in the Plan, which will help lessen the debt burdens of
Tuntex for an approximate amount of THB4,600 million.  By doing
so, Tuntex's debt structure will be in line with its income
structure, and Tuntex will soon regain the capability to operate
its business and compete with other business operators, which
will be beneficial to its creditors and stakeholders such as
employees, contractors, business partners, shareholders, etc.

(6) Benefits To The Shareholders From Capital Increase
   
The capital increase and the debts to equity swap will help
lessen the debt burdens of Tuntex for an approximate amount of
Baht 4,600 million.  As a result, Tuntex will have stronger
financial status.  

The Plan Administrator hopes that with such stronger financial
status, its shares may be able to resume tradable on the Stock
Exchange of Thailand and at a higher price.  In addition, Tuntex
may be able to pay dividends in the future.

(7) Other Information Necessary To Be Used By The Shareholders
To Consider And Approve Capital Increase: None

(8) Timeline For Capital Increase

- Filing a petition with the Court for permission of the
reduction / increase of registered capital and the amendments to
Articles of Association and Memorandum of Association: 17
September 2004

- The Board of Director's Meeting passing the resolution
approving the decrease/ increase of capital: 30 September 2004

- Registration of the reduction / increase of registered share
capital and the amendments to Articles of Association and
Memorandum of Association with the Company Registrar: 12 October
2004

- Debts to equity conversion for the creditors under applicable
debt repayment programs: As provided in the Plan

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

Sincerely yours,
(Mr.Yang, Jin-Tuu)   (Mr.Chira Panupong)
Tuntex (Thailand) Public Company Limited, Plan Administrator of
Tuntex (Thailand) Public Company Limited



* 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
A&R Whitcoulls Group                  9.500%    12/15/10    9
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    8
Capital Properties NZ Ltd             8.500%     4/15/07    8
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    7
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    8
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    8
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    74
China Government Bond                  2.900%    5/24/32    62
China Government Bond                  3.400%    4/17/23    74
HKSAR Government                       3.750%    7/23/09     3


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    2
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   74
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                             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
prior written permission of the publishers.  Information
contained herein is obtained from sources believed to be
reliable, but is not guaranteed.

The TCR -- Asia Pacific subscription rate is $575 for 6 months
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 ***