TCRAP_Public/041022.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

             Friday, October 22, 2004, Vol. 7, No. 210

                            Headlines

A U S T R A L I A

AMP LIMITED: Interest in Alesco Corporation Changes
BENNTRANS PTY: Final Meeting Set Today
BLAZER CONSULTANCY: To Hold Final Meeting Today
DEVON CONSTRUCTIONS: Voluntarily Winds Up
GABATA PTY: Final Meeting Slated for October 25

H.J. COULLS: Sets October 25 as Date of Final Meeting
JAMES HARDIE: Refuses to Comment on Speculation
MARANUI PTY: To Face Winding Up Proceedings
MCKINNEY HOLDINGS: Final Meeting Set October 22
MCKINNEY PROPERTIES: Holds Final Meeting Today

MORRISON COURT: Appoints Richard George Freer as Liquidator
OSBORNE SURFACE: Final Meeting Slated for October 27
PATERSONIA PTY: Enters Winding Up Proceedings
PRIMELIFE CORPORATION: Chief Happy with 80% Issue Acceptance
QANTAS AIRWAYS: CASA Probes Training Program

RAMOTH ENTERPRISES: Sets October 27 as Date of Final Meeting
TEMPORARY COMPANY: Members Resolve to Voluntarily Wind Up
TURNERS SALES: Sets October 26 as Date of Final Meeting
WELDARC PTY: Schedules Final Meeting on October 27


C H I N A  &  H O N G  K O N G

ASIAN MATE: Creditors Meeting Set November 10
BANK of CHINA: Operating Profit Climbs 24%
CENTROWAY CONSULTANTS: Sets Creditors Meeting on November 2
CHINA CITY: Posts MOU on Possible Acquisition
CHINA CONSTRUCTION: Citigroup Eyes Stake

CHINA INTERNET: Creditors Meeting Slated for November 10
CHINA MARKETPLACE: Schedules Creditors Meeting on November 10
CHINA MP: To Hold Creditors Meeting on November 10
JET POWER: Creditors Meeting Set November 10
JUMBO PROFIT: Enters Winding Up Proceedings

J'S JEWELLERY: Issues Notice of Creditors Meeting
KEEN PACIFIC: Faces Winding Up Proceedings
K&T BEST: Winding Up Hearing Set November 3
LEE SHING: Notes Members, Creditors Meetings Schedule
MAINLY GREAT: Undergoes Winding Up Proceedings

OCEAN TREASURE: Creditors Meeting Slated for November 10
OPEN ASIA: Sets Creditors Meeting on November 10
PAN'S MOTORS: Creditors Meeting Scheduled November 10
POWER ASIA: Creditors Meeting Slated for November 10
SEAPOWER CHENG: Issues Creditors Meeting Notice

SINO CENTURY: To Hold Meeting November 10
SPARKCOM LIMITED: May Face Voluntary Winding Up
WING CHEONG: Sets November 2 for Creditors Meeting


I N D O N E S I A

BANK MANDIRI: Branch Receives Bomb Threat
MERPATI NUSANTARA: Finance Ministry Urges Aircraft Sale


J A P A N

ALL NIPPON: Mulls Domestic Fare Hike
DAIEI INCORPORATED: IRCJ To Seek Ideas From Sponsors
JAPAN AIRLINES: To Expand Haneda Airport Facilities
JAPAN AIRLINES: Boosts Code Sharing with China Eastern
MITSUBISHI FUSO: Parts Dearth Bogs Down Recalls

MITSUBISHI MOTORS: Moving Towards Hybrid Engine Technology
RESONA HOLDINGS: To Return JPY700-Bln in Taxpayers' Money
UFJ HOLDINGS: Bank Chief to Step Down as Head of Banker's Group


K O R E A

KOREA EXCHANGE: Union Questions Scale of Layoffs
KOREA POST: Suffers KRW166.2Bln Loss on Investments


M A L A Y S I A

ANCOM BERHAD: Purchases 2,800 Ordinary Shares on Buy Back
AOKAM PERDANA: Unveils Production Figures for September
DENKO INDUSTRIAL: Unit Faces Winding Up Petition
FABER GROUP: Granted Listing of 354,400 New Ordinary Shares
KUMPULAN BELTON: Releases Default Status Notice

KUMPULAN EMAS: Bursa Exchange Removes ICULS Listing on Nov 18
LAFARGE MALAYAN: Unit Enters Liquidation
NAIM INDAH: To List Additional Shares
NAM FATT: Notes Additional Listing Of Shares
PSC INDUSTRIES: Answer Bursa Malaysia Query

SRIWANI HOLDINGS: Notes Expiry Of Warrants 1994/2004
RNC CORPORATION: Proposes Debt Restructuring Scheme
SELOGA HOLDINGS: Unit Enters Sale Purchase Agreement


P H I L I P P I N E S

GRAND BOULEVARD: Court OKs Debt Rehab Petition
MANILA ELECTRIC: Clarifies "Seeks US$240M Refund Renewal" Report
METRO PACIFIC: Issues Notice to Nenaco Shareholders
METRO PACIFIC: Open to Bourse Review, Says VP
NATIONAL BANK: Discloses September NPL Ratio


S I N G A P O R E

BINTAN LAGOON: Goes Into Receivership
KOH BROTHERS: Clarifies Previous Announcement


T H A I L A N D

DATAMAT: Unveils Board Meeting Resolutions
NFC FERTILIZER: Resolves to Increase Capital
NFC FERTILIZER: Unveils Resolution Adopted at Board Meeting
TANAYONG: Notes Update on Business Rehabilitation
THAI PETROCHEMICAL: Court To Approve Rehab Plan Amendment

* Large Companies With Insolvent Balance Sheets

     -  -  -  -  -  -  -  -

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


AMP LIMITED: Interest in Alesco Corporation Changes
---------------------------------------------------
Pursuant to Section 671B of the Corporations Law, AMP Limited
hereby advised a change in its relevant interest in Alesco
Corporation Limited.

To view all the details contained in ASIC Form 604, click on:
http://bankrupt.com/misc/TCRAP_AMPLIMITED102104.pdf

CONTACT:

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


BENNTRANS PTY: Final Meeting Set Today
--------------------------------------
Notice is given that a final meeting of the members and
creditors of Benntrans Pty Ltd (In Liquidation) will be held at
the offices of Ferrier Hodgson, Level 6, 81 Flinders Street,
Adelaide SA 5000 today at 11:00 a.m.

AGENDA

(1) To receive and discuss the Liquidator's account showing how
the winding up has been conducted and the property disposed of.

(2) Any other business.

J.R. Hart
Liquidator
Ferrier Hodgson
Chartered Accountants
Level 6, 81 Flinders Street,
Adelaide SA 5000
Telephone: (08) 8235 7655,
Facsimile: (08) 8232 4487


BLAZER CONSULTANCY: To Hold Final Meeting Today
-----------------------------------------------
Notice is given pursuant to Section 509 of the Corporations Act
2001 that a Final Meeting of Members and Creditors of Blazer
Consultancy Pty Limited (In Liquidation) will be held at the
offices of Ferrier Hodgson, Level 17, 2 Market Street, Sydney,
NSW 2000 today at 10:00 a.m.

AGENDA

(1) To receive an account showing the manner in which the
winding up has been conducted and the property of the company
disposed of and hearing any explanations that may be given by
the Liquidator.

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

Dated this 9th day of September 2004

B.A. Taylor
S.J. Sherman
Liquidator
Ferrier Hodgson
Chartered Accountants
Level 17, 2 Market Street,
Sydney NSW 2000


DEVON CONSTRUCTIONS: Voluntarily Winds Up
-----------------------------------------
Notice is hereby given that at a Meeting of Members of Devon
Constructions Australia Pty Ltd held on the 9th day of September
2004, it was resolved that the Company be wound up voluntarily
and that Richard George Freer & Robert Colin Parker of 40 Sturt
Street, Adelaide, SA Telephone: (08) 8211 7177, Facsimile: (08)
8212 6177 be appointed as joint and several Liquidators for the
purpose of such winding up.

Dated this 13th day of September 2004

Norbert Joseph Tanti
Director


GABATA PTY: Final Meeting Slated for October 25
-----------------------------------------------
Pursuant to Section 509(2) of the Corporations Act, notice is
hereby given of a General Meeting of the Members of Gabata Pty
Limited (In Liquidation) to be held at PF Fisher & Co Pty Ltd,
Level 5, 55 Phillip Street, Parramatta, at 10:00 a.m. on the
25th of October 2004 for the purpose of laying before it the
Liquidator's accounts showing how the winding up has been
conducted.

David B. Gurney

Liquidator


H.J. COULLS: Sets October 25 as Date of Final Meeting
-----------------------------------------------------
Notice is hereby given that a final meeting of members and
creditors of H.J. Coulls & Sons Pty Ltd (In Liquidation) will be
held in the offices of Koo Group of Companies, 1/41 Currie
Street, Adelaide in the state of South Australia, on the 25th
day of October 2004 at 2 o'clock in the afternoon.

AGENDA

(1) To receive the Liquidator's account showing how the winding
up has been conducted and the property of the company disposed
of and explanations thereof in pursuance of section 509 of the
Corporations Act 2001.

Dated this 9th day of September 2004

Kim Sing Koo
Liquidator
1/41 Currie Street,
Adelaide SA 5000


JAMES HARDIE: Refuses to Comment on Speculation
-----------------------------------------------
James Hardie Industries Limited has declined to confirm or deny
speculation it has appointed an acting chief financial officer
following Peter Shafron's resignation last month, The Age
relates.

The Australian newspaper reported that former NSW TAB chief
financial officer Russel Chenu will take the place vacated by
Mr. Sahfron.

The paper, likewise, said Mr. Chenu would act as negotiator in
talks with unions and asbestos victims support groups to reach a
new compensation agreement.

It is understood Mr. Chenu will eventually transfer to
California, where Mr. Shafron is based, it added.

Mr. Shafron and former chief executive Peter Macdonald stepped
aside last month following the release of the Jackson report
into the Company's asbestos liabilities, which resulted in
Commissioner David Jackson finding the two executives had
breached corporate laws.

CONTACT:

For corporate and media enquiries only, please contact:

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

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

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

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

All other inquires to CustomerLink Service Centre on 13 1103.


MARANUI PTY: To Face Winding Up Proceedings
-------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of members of Maranui Pty Ltd duly convened and held on the 31st
of August 2004, it was resolved that the company be wound up
voluntarily and that Robin Max Halbert be appointed liquidator.

Dated this 10th day of September 2004

Robin Max Halbert
Liquidator
1st Floor, 100 Outram Street,
West Perth WA 6005


MCKINNEY HOLDINGS: Final Meeting Set October 22
-----------------------------------------------
Notice is hereby given that pursuant to Section 509(1) of the
Corporations Act, the final meeting of the members of Mckinney
Holdings Pty Ltd (In Liquidation) will be held at the offices of
Pitcher Partners, Level 21, 300 Queen Street, Brisbane on 22
October 2004 at 12:00 p.m.

AGENDA

To receive an account made up by the liquidator showing how the
winding up has been conducted and the property of the company
has been disposed of, and to receive any explanation required
thereof.

Dated this 8th day of September 2004

I.C. Klug
Liquidator


MCKINNEY PROPERTIES: Holds Final Meeting Today
----------------------------------------------
Notice is hereby given that pursuant to Section 509(1) of the
Corporations Act, the final meeting of the members of McKinney
Properties Pty Ltd (In Liquidation) will be held at the offices
of Pitcher Partners, Level 21, 300 Queen Street, Brisbane today
at 11:00 a.m.

AGENDA

To receive an account made up by the liquidator showing how the
winding up has been conducted and the property of the company
has been disposed of, and to receive any explanation required
thereof.

Dated this 8th day of September 2004

I.C. Klug
Liquidator


MORRISON COURT: Appoints Richard George Freer as Liquidator
-----------------------------------------------------------
Notice is hereby given that at a Meeting of Members of Morrison
Court Pty Ltd held on the 10th day of September 2004, it was
resolved that the Company be wound up voluntarily and that
Richard George Freer of 40 Sturt Street, Adelaide, SA,
Telephone:  (08) 8211 7177, Facsimile: (08) 8212 6177 be
appointed as Liquidator for the purpose of such winding up.

Dated this 13th day of September 2004

John Edward Lambert Morrison
Director


OSBORNE SURFACE: Final Meeting Slated for October 27
----------------------------------------------------
Notice is given that a final meeting of members and creditors of
Osborne Surface Treatments Pty Ltd (In Liquidation) will be held
at the office of Gary Anderson, Chartered Accountant, Level 1,
12 Prowse Street, West Perth WA 6005 on Wednesday, the 27th of
October 2004 at 11:00 a.m.

AGENDA

(1) To receive a report from the liquidator on the conduct of
the liquidation.

(2) To receive a statement of the receipts and payments for the
period of the liquidation.

(3) General business.

Dated this 13th day of September 2004

Gary Anderson
Liquidator
PO Box 1661,
West Perth WA 6872
Telephone: (08) 9486 7822,
Facsimile: (08) 9226 4250
Email: garya@iinet.net.au


PATERSONIA PTY: Enters Winding Up Proceedings
---------------------------------------------
At a general meeting of the members of Patersonia Pty Ltd (In
Liquidation) duly convened and held at 48 Rudder Close, Clifton
Beach Qld 4879, on the 7th of September 2004, the special
resolutions set out below were duly passed:

SPECIAL RESOLUTIONS

(A) That the Company be wound up voluntarily and that Peter
George Burton and Brian Hugh Allen of Burton Glenn Allen,
Chartered Accountants, Level 2 57 Grosvenor Street, Neutral Bay,
New South Wales, be appointed Liquidators for the purpose of
such winding up.

(B) That on the winding up of the Company (subject to the
payment of the debts and liabilities of the Company and the cost
of Liquidation and if necessary), the assets may be distributed
among the Members in Specie, the whole or in part according to
their rights and interest in the Company.

Both resolutions were unanimously carried.

Dated this 7th day of September 2004

John Paterson
Director
c/- Burton Glenn Allen
Chartered Accountants
Level 2, 57 Grosvenor Street,
Neutral Bay NSW
Telephone: (02) 9904 4644,
Facsimile: (02) 9904 9644


PRIMELIFE CORPORATION: Chief Happy with 80% Issue Acceptance
------------------------------------------------------------
Primelife Corporation Chairman Robert Champion de Crespigny is
elated with how the issue of new shares turned out especially
following the company's recent financial woes, says The Age.

Mr. de Crespigny was referring to the group's AU$75 million new
shares issuance and rights issue of new convertible notes, which
was more than 80 percent subscribed. The company had reaped
AU$61 million from the issue, the proceeds of which will be used
for the recapitalization of the aged-care provider.

The AU$50 million share offer closed with applications for
AU$40.44 million of new shares, and the AU$25 million
convertible note offer received AU$20.54 million worth of
applications.

These left underwriters Babcock & Brown and Albany Bay to take
on the remaining AU$4.8 million of ordinary shares, while sub-
underwriter Tricom picks up AU$9.84 million of convertible
notes.

Earlier, international building company Multiplex has infused
AU$5 million to complete the AU$80 million recapitalization,
which will fund a new project development joint venture with
Primelife and Babcock & Brown.

Primelife's Managing Director Jim Hazel is optimistic the
Company will move to become a leading developer, owner and
operator of retirement villages and aged-care facilities across
Australia.

CONTACT:

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


QANTAS AIRWAYS: CASA Probes Training Program
--------------------------------------------
The Civil Aviation Safety Authority (CASA) is investigating
claims Qantas Airways is hurriedly training potential
strikebreakers, The Advertiser relates.

CASA is acting in response to a complaint raised by one union,
accusing the airline of preparing a strike-busting workforce.

The Flight Attendants Association of Australia said the three-
month contract crews would be used to offset a potential
industrial action by 4000 long-haul staff over the Christmas
season.

The union reported Qantas hired more than 300 flight attendants
on a short-term basis ahead of the opening of the airline's new
London base next year.

In a leaked e-mail to the airline's head of flight operations
training, Captain David Coates, Qantas's emergency procedure
instructor Robert Ford said he was seriously concerned at the
way the contingency students were being bulldozed through
training.

However, CASA spokesman Peter Gibson said Qantas had assured
there were no problems with the adequacy of the training being
given. He added there was no evidence students were being rushed
through.

"Certainly we've got no evidence to date that students were
being bulldozed through," Mr. Gibson told the media.

"But of course now that specific claims are being made, we'll go
back and test them. We'll go back and ask Qantas to provide us
evidence of exactly how the courses are being run."

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


RAMOTH ENTERPRISES: Sets October 27 as Date of Final Meeting
------------------------------------------------------------
Notice is given that a final meeting of members and creditors of
Ramoth Enterprises Pty Ltd will be held at the office of Gary
Anderson, Chartered Accountant, Level 1, 12 Prowse Street, West
Perth WA 6005 on Wednesday, the 27th of October 2004 at 10:30
a.m.

AGENDA

(1) To receive a report from the liquidator on the conduct of
the liquidation.

(2) To receive a statement of the receipts and payments for the
period of the liquidation.

(3) General business.

Dated this 13th day of September 2004

Gary Anderson
Liquidator
PO Box 1661,
West Perth WA 6872
Telephone: (08) 9486 7822,
Facsimile: (08) 9226 4250
Email: garya@iinet.net.au


TEMPORARY COMPANY: Members Resolve to Voluntarily Wind Up
---------------------------------------------------------
At a General Meeting of the members of Temporary Company No. 1
Pty Ltd at Bentleys MRI, 64 Greenhill Road, Wayville SA 5034 on
10 September 2004 the Special Resolution set out below was duly
passed.

(1) That on the winding up of the company subject to the payment
of debts and liabilities of the company and costs of
liquidation, the assets of the company be distributed among the
members in specie in whole or in part according to their rights
and interest in the company or in accordance with a special
resolution of the members; and

(2) That the company be wound up voluntarily in accordance with
the provisions of Section 491 of the Corporations Act 2001; and

(3) That Mark Christopher Hall and Timothy James Clifton
Chartered Accountants, Level 10, 26 Flinders Street, Adelaide be
appointed joint and several liquidators for the purpose of such
winding up.

R.K. Jolly
Director


TURNERS SALES: Sets October 26 as Date of Final Meeting
-------------------------------------------------------
Notice is given pursuant to Section 509(2) of the Corporations
Act 2001 that a Final Meeting of Members of Turners Sales &
Service Pty Limited (In Voluntary Liquidation) will be held at
the offices of Ngan & Co, Level 5, 49 Market Street, Sydney NSW
2000 on Tuesday, 26 October 2004 at 10:00 a.m. for the purpose
of laying before the meeting the Liquidator's final account and
giving any explanation thereof.

Dated this 13th day of September 2004

P. Ngan
Liquidator


WELDARC PTY: Schedules Final Meeting on October 27
--------------------------------------------------
Notice is given that a final meeting of members and creditors of
Weldarc Pty Ltd will be held at the office of Gary Anderson,
Chartered Accountant, Level 1, 12 Prowse Street, West Perth WA
6005 on Wednesday the 27th of October 2004 at 10:00 a.m.

AGENDA

(1) To receive a report from the liquidator on the conduct of
the liquidation.

(2) To receive a statement of the receipts and payments for the
period of the liquidation.

(3) General business.

Dated this 13th day of September 2004

Gary Anderson
Liquidator
PO Box 1661, West Perth WA 6872
Telephone: (08) 9486 7822,
Facsimile: (08) 9226 4250
Email: garya@iinet.net.au


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


ASIAN MATE: Creditors Meeting Set November 10
---------------------------------------------
Notice is hereby given that pursuant to section 241 of the Hong
Kong Companies Ordinance, a meeting of creditors of Asian Mate
Investment Limited will be held at 5/F, Allied Kajima Building,
138 Gloucester Road, Wanchai, Hong Kong on 10 November 2004 at
11:15 p.m.

The purpose of the meeting is to consider and, if deemed fit,
approve the voluntary winding up of the Company and the
appointment of Joint and Several Liquidators, and to consider
further matters in relation to sections of the Companies
Ordinance.

Creditors may vote either in person or by proxy.

Proxies must be lodged at 7th Floor, Allied Kajima Building, 138
Gloucester Road, Wan Chai, Hong Kong not later than 4:00 p.m on
9 November 2004.

Dated this 15th day of October 2004.


BANK of CHINA: Operating Profit Climbs 24%
------------------------------------------
Bank of China (BOC) saw its operating profit rise for the first
nine months despite a sharp fall in new loans, states the China
Daily.

The bank has tallied CNY48 billion or US$5.8 billion, an
increase of 23.7 percent from a year earlier.

No exact figures were given for the third quarter but
comparisons for the first half earning of CNY32.8 billion showed
an operating profit of CNY15.2 billion in the July-September
period.

Its bad loans accounted for less than 5.2 percent of its total
portfolio during the end of September.

Its capital adequacy ratio, on the other hand, climbed 8.4
percent, exceeding its targeted increase.

BOC plans to list shares overseas in the second half of next
year in an initial public offering that analysts believe could
raise as much as US$4 billion.

BOC, along with China Construction Bank, Industrial and
Commercial Bank of China, China Construction Bank and
Agricultural Bank of China, are cleaning their books to list
shares and gird for increased foreign competition in the coming
years.

CONTACT:
Bank of China
1 Fuxingmen Nei Dajie
Beijing, 100818, China
Phone: +86-10-6659-6688
Fax: +86-10-6601-4024
http://www.bank-of-china.com


CENTROWAY CONSULTANTS: Sets Creditors Meeting on November 2
-----------------------------------------------------------
Notice is hereby given that, pursuant to section 241 of the Hong
Kong Companies Ordinance, a meetings of creditors of Centroway
Consultants Limited will be held at 5/F, Allied Kajima Building,
138 Gloucester Road, Wanchai, Hong Kong on 10 November 2004 at
11:30 p.m. for the purpose of considering and, if deemed fit,
approving the voluntary winding up of the Company and the
appointment of Joint and Several Liquidators of the company, and
considering further matters in relation to sections of the
Companies Ordinance.

Creditors may vote either in person or by proxy.

Proxies must be lodged at 7th Floor, Allied Kajima Building, 138
Gloucester Road, Wan Chai, Hong Kong not later than 4:00 pm on 9
November 2004.

Dated this 15th day of October 2004.


CHINA CITY: Posts MOU on Possible Acquisition
---------------------------------------------
The Board of Directors of China City Natural Gas Holdings
Limited announced that on 20 October 2004, the Company entered
into a Memorandum of Understanding (MOU) with Mr. Zhu Kun and
Mr. Li Li Jun in relation to a possible acquisition of a
majority stake in Shanghai Holdfast Science & Technology Co.,
Ltd.

The Vendors are not connected persons of the Company (as defined
under the Rules Governing the Listing of Securities on The Stock
Exchange of Hong Kong Limited). In addition, they are
independent third parties not connected with the directors,
chief executive or substantial shareholder of the Company or any
of its subsidiaries and their respective associates (as defined
under the Listing Rules).

The MOU is non-legally binding and subject to final and
definitive agreements to be concluded between the Company and
the Vendors within 120 days from the date of the MOU, and the
acquisition as contemplated in the MOU may or may not proceed
accordingly. In accordance with the MOU, the Company will be
entitled to acquire not more than 51% of the issued share
capital of Shanghai Holdfast from the Vendors under a share
purchase and a call option granted by the Vendors to the
Company.

Under the share purchase, the Company will acquire not more than
20% interest in Shanghai Holdfast from the Vendors by issuing a
two-year convertible note to the Vendors. The Vendors will also
grant to the Company a six-month call option to purchase the
remaining aggregate interest up to 51% of the issued share
capital of Shanghai Holdfast at a consideration to be satisfied
by cash or issue of new shares of the Company at the Company's
sole discretion.

The purchase consideration will be based on the estimated
business value of Shanghai Holdfast multiplied by the percentage
of interest being acquired under the share purchase and the call
option. The EBV will be calculated by applying a P/E ratio
ranging from 8 to 15 to the annualized net profits of
Shanghai Holdfast (audited net profits of Shanghai Holdfast for
the nine months ended 30 September 2004 multiplied by 4/3).

Shanghai Holdfast is a leading company in system integration,
software development and solutions providing with more than 100
employees and the business covers over 20 provinces in China.
Its services range from IT infrastructure to network application
system, and from the basic www hardware construction to www
based business applications for customers, including ISP,
government and enterprises. With its telecommunication and
technology expertise, Shanghai Holdfast provides customers with
total solutions on WAN, CDN and IDC through its partners,
including Nortel, NetApp, Cisco and 3Com. Founded for 8 years,
Shanghai Holdfast has built up its professional track records
for its clients, including Shanghai Telecom Company Limited,
China Unicom Limited, China Mobile Communications Corporation,
Shanghai P & T Data Communication Co., Ltd., China State Post
Bureau and Lucent Technologies (China) Co. Ltd. etc.

Should any final and definitive agreements be concluded in
accordance with the MOU, such may result in a notifiable
transaction for the Company under Chapter 14 of the Listing
Rules, further announcement will be made as and when
appropriate.

Shareholders and potential investors of the Company are advised
to exercise caution when dealing in the shares of the Company as
the aforesaid MOU may or may not lead to any final and
definitive agreements being concluded.

As at the date of this announcement, the Board comprises six
executive directors, namely Mr. Wong Kui
Shing, Danny, Mr. Masanori Suzuki, Mr. Eiji Sato, Mr Wong King
Shiu, Daniel, Mr Kan Kwok Shu and Mr.Lin Che Chu, George; and
three independent non-executive directors, namely Mr. Cheung Man
Yau, Timothy, Mr. Chuk Che Shing and Mr. Kim Kwi Nam, Takao.

By Order of the Board
China City Natural Gas Holdings Limited
Wong Kui Shing, Danny
Chairman
Hong Kong, 20 October 2004


CHINA CONSTRUCTION: Citigroup Eyes Stake
----------------------------------------
Citigroup is eyeing a stake in state-owned China Construction
Bank (CCB), reports the South China Morning Post.

The firm is likely to bid for a 5-percent stake now that several
European group have passed up the chance.

European banks have said that CCB's asking price of US$2 billion
for a small stake was far too high, considering that the small
share would allow the buyer little or no influence with the
bank's operations.

Citigroup on the other hand is interested in CCB's mortage
lending business and its wide branch network.

Meanwhile, Citigroup's partnership in Shanghai Pudong
Development Bank Co., which gives the bank exclusive rights to
distribute Citigroup's credit cards in China, may get in the way
of their plans.

CONTACT:

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


CHINA INTERNET: Creditors Meeting Slated for November 10
--------------------------------------------------------
Notice is hereby given that, pursuant to section 241 of the Hong
Kong Companies Ordinance, a meeting of creditors of China
Internet Marketplace Limited will be held at 5/F, Allied Kajima
Building, 138 Gloucester Road, Wanchai, Hong Kong on 10 November
2004 at 12:15 p.m. for the purpose of considering and, if deemed
fit, approving the voluntary winding up of the Company and the
appointment of Joint and Several Liquidators of the Company and
considering further matters in relation to sections of the
Companies Ordinance.

Creditors may vote either in person or by proxy.

Proxies must be lodged at 7th Floor, Allied Kajima Building, 138
Gloucester Road, Wan Chai, Hong Kong not later than 4:00 pm on 9
November 2004.

Dated this 15th day of October 2004.


CHINA MARKETPLACE: Schedules Creditors Meeting on November 10
-------------------------------------------------------------
Notice is hereby given that, pursuant to section 241 of the Hong
Kong Companies Ordinance, a meeting of Creditors of China
Marketplace Limited will be held at 5/F, Allied Kajima Building,
138 Gloucester Road, Wanchai, Hong Kong on 10 November 2004 at
11:45 p.m. for the purpose of considering and, if deemed fit,
approving the voluntary winding up of the Company and the
appointment of Joint and Several Liquidators of the Company, and
considering further matters in relation to sections of the
Companies Ordinance.

Creditors may vote either in person or by proxy.

Proxies must be lodged at 7th Floor, Allied Kajima Building, 138
Gloucester Road, Wan Chai, Hong Kong not later than 4:00 pm on 9
November 2004.

Dated this 15th day of October 2004.


CHINA MP: To Hold Creditors Meeting on November 10
--------------------------------------------------
Notice is hereby given that, pursuant to section 241 of the Hong
Kong Companies Ordinance, a meeting of Creditors of China MP
Limited will be held at 5/F, Allied Kajima Building, 138
Gloucester Road, Wanchai, Hong Kong on 10 November 2004 at 2:15
p.m. for the purpose of considering and, if deemed fit,
approving the voluntary winding up of the Company and the
appointment of Joint and Several Liquidators of the Company, and
considering further matters in relation to sections of the
Companies Ordinance.

Creditors may vote either in person or by proxy.

Proxies must be lodged at 7th Floor, Allied Kajima Building, 138
Gloucester Road, Wan Chai, Hong Kong not later than 4:00 pm on 9
November 2004.

Dated this 15th day of October 2004.

China MP Limited posted this notice at Quamnet.com on October
15, 2004.


JET POWER: Creditors Meeting Set November 10
--------------------------------------------
Notice is hereby given that, pursuant to section 241 of the Hong
Kong Companies Ordinance, a meeting of Creditors of Jet Power
Development Limited will be held at 5/F, Allied Kajima Building,
138 Gloucester Road, Wanchai, Hong Kong on 10 November 2004 at
4:00 p.m. for the purpose of considering and, if deemed fit,
approving the voluntary winding up of the Company and the
appointment of Joint and Several Liquidators of the Company, and
considering further matters in relation to sections of the
Companies Ordinance.

Creditors may vote either in person or by proxy.

Proxies must be lodged at 7th Floor, Allied Kajima Building, 138
Gloucester Road, Wan Chai, Hong Kong not later than 4:00 pm on 9
November 2004.

Dated this 15th day of October 2004.


JUMBO PROFIT: Enters Winding Up Proceedings
-------------------------------------------
Notice is hereby given that a petition for the winding up of
Jumbo Profit Holdings 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.


J'S JEWELLERY: Issues Notice of Creditors Meeting
-------------------------------------------------
Notice is hereby given that, pursuant to Section 228A of the
Companies Ordinance, a meeting of the creditors of J's Jewellery
Manufacturer Limited will be held at 2:30 pm on the 30th day of
October 2004 at Units 1604-5, 16th Floor, Unicorn Trade Centre,
127-131 Des Voeux Road , Central, Hong Kong, for the purpose of:

(a) Considering and receiving a statement of position of the
company's affairs prepared by the directors.

(b) Appointing Liquidators of the company for the purpose of
winding up the affairs and distributing the assets of the
company.

(c) Appointing a committee of inspection not more than 5
persons, if necessary.

(d) Waiving the requirement for the audit of the Liquidator's
accounts.

(e) Considering any other matters, which the creditors may
raise.

Creditors may vote either in person or by proxy. Proxies used at
the meeting must be lodged at the above address not later than
4:00 p.m. in the afternoon of 29 October 2004.

Dated this 15th day of October 2004

Li Cheuk Wai
Leung Chui Mei
Joint & Several Provisional Liquidators


KEEN PACIFIC: Faces Winding Up Proceedings
------------------------------------------
Notice is hereby given that a petition for the winding up of
Keen Pacific Development Limited by the High Court of Hong Kong
Special Administrative Region was on the 22nd day of September
2004 presented to the said Court by Bank of China (Hong Kong)
Limited whose registered office is situated at 14th Floor, Bank
of China Tower, 1 Garden Road, 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.

W. I. Cheung & Co.
Solicitors for the Petitioner
Rooms 2505-10, Wing On House
71 Des Voeux Road Central
Hong Kong

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


K&T BEST: Winding Up Hearing Set November 3
-------------------------------------------
Notice is hereby given that a petition for the winding up of K&T
Best Quality International Limited by the High Court of Hong
Kong Special Administrative Region was on the 22nd day of
September 2004 presented to the said Court by Bank of China
(Hong Kong) Limited whose registered office is situated at 14th
Floor, Bank of China Tower, 1 Garden Road, 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.

Anthony Chiang & Partners
Solicitors for the Petitioner
3903 Tower 2, Lippo Centre
89 Queensway, 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.


LEE SHING: Notes Members, Creditors Meetings Schedule
-----------------------------------------------------
Notice is hereby given that pursuant to Section 247 of the
Companies Ordinance, a meeting of the members of Lee Shing Yue
Construction Company Limited will be held at 21st Floor, Wing On
Centre, 111 Connaught Road Central, Hong Kong on 4th day of
November 2004 at 2:30 p.m.

It will be followed by a meeting of the creditors of the company
to be held at the same place at 2:45 p.m. for the purpose of
receiving an account of the liquidator's act and dealings and of
the conduct of the winding up of the company during the year
ended 9 August 2004.

A member or creditor entitled to attend vote at the above
meeting may appoint proxy to attend and vote instead of him. A
proxy need not be a member or creditor of the company. Forms of
proxies for both meetings must be lodged at 26th Floor, Wing One
Centre, 111 Connaught Road Central, Hong Kong not later than
4:00 p.m. on the day before the meetings.

Dated this 15th day of October 2004.

Lai Kar Yan (Derek)
Darach E. Haughey
Joint and Several Liquidators


MAINLY GREAT: Undergoes Winding Up Proceedings
----------------------------------------------
Notice is hereby given that a petition for the winding up of
Mainly Great Company 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 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.


OCEAN TREASURE: Creditors Meeting Slated for November 10
--------------------------------------------------------
Notice is hereby given that, pursuant to section 241 of the Hong
Kong Companies Ordinance, a meeting of Creditors of Ocean
Treasure Limited will be held at 5/F, Allied Kajima Building,
138 Gloucester Road, Wanchai, Hong Kong on 10 November 2004 at
3:15 p.m. for the purpose of considering and, if deemed fit,
approving the voluntary winding up of the Companies and the
appointment of Joint and Several Liquidators of the Companies
and considering further matters in relation to sections of the
Companies Ordinance.

Creditors may vote either in person or by proxy.

Proxies must be lodged at 7th Floor, Allied Kajima Building, 138
Gloucester Road, Wan Chai, Hong Kong not later than 4:00 pm on 9
November 2004.

Dated this 15th day of October 2004.


OPEN ASIA: Sets Creditors Meeting on November 10
------------------------------------------------
Notice is hereby given that, pursuant to section 241 of the Hong
Kong Companies Ordinance, a meeting of Creditors of Open Asia
Holdings Limited will be held at 5/F, Allied Kajima Building,
138 Gloucester Road, Wanchai, Hong Kong on 10 November 2004 at
12:00 p.m. for the purpose of considering and, if deemed fit,
approving the voluntary winding up of the Company and the
appointment of Joint and Several Liquidators of the Company, and
considering further matters in relation to sections of the
Companies Ordinance.

Creditors may vote either in person or by proxy.

Proxies must be lodged at 7th Floor, Allied Kajima Building, 138
Gloucester Road, Wan Chai, Hong Kong not later than 4:00 pm on 9
November 2004.

Dated this 15th day of October 2004.


PAN'S MOTORS: Creditors Meeting Scheduled November 10
-----------------------------------------------------
Notice is hereby given that, pursuant to section 241 of the Hong
Kong Companies Ordinance, a meeting of Creditors of Pan's Motors
Limited will be held at 5/F, Allied Kajima Building, 138
Gloucester Road, Wanchai, Hong Kong on 10 November 2004 at 3:00
p.m. for the purpose of considering and, if deemed fit,
approving the voluntary winding up of the Company and the
appointment of Joint and Several Liquidators of the Company, and
considering further matters in relation to sections of the
Companies Ordinance.

Creditors may vote either in person or by proxy.

Proxies must be lodged at 7th Floor, Allied Kajima Building, 138
Gloucester Road, Wan Chai, Hong Kong not later than 4:00 pm on 9
November 2004.

Dated this 15th day of October 2004.


POWER ASIA: Creditors Meeting Slated for November 10
----------------------------------------------------
Notice is hereby given that, pursuant to section 241 of the Hong
Kong Companies Ordinance, a meeting of Creditors of Power Asia
Holdings Limited will be held at 5/F, Allied Kajima Building,
138 Gloucester Road, Wanchai, Hong Kong on 10 November 2004 at
2:00 p.m. for the purpose of considering and, if deemed fit,
approving the voluntary winding up of the Company and the
appointment of Joint and Several Liquidators of the Company, and
considering further matters in relation to sections of the
Companies Ordinance.

Creditors may vote either in person or by proxy.

Proxies must be lodged at 7th Floor, Allied Kajima Building, 138
Gloucester Road, Wan Chai, Hong Kong not later than 4:00 pm on 9
November 2004.

Dated this 15th day of October 2004.


SEAPOWER CHENG: Issues Creditors Meeting Notice
-----------------------------------------------
Notice is hereby given that, pursuant to section 241 of the Hong
Kong Companies Ordinance, a meeting of Creditors of Seapower
Cheng Xin (China) Limited will be held at 5/F, Allied Kajima
Building, 138 Gloucester Road, Wanchai, Hong Kong on 10 November
2004 at 2:30 p.m. for the purpose of considering and, if deemed
fit, approving the voluntary winding up of the Company and the
appointment of Joint and Several Liquidators of the Company, and
considering further matters in relation to sections of the
Companies Ordinance.

Creditors may vote either in person or by proxy.

Proxies must be lodged at 7th Floor, Allied Kajima Building, 138
Gloucester Road, Wan Chai, Hong Kong not later than 4:00 pm on 9
November 2004.

Dated this 15th day of October 2004.


SINO CENTURY: To Hold Meeting November 10
-----------------------------------------
Notice is hereby given that, pursuant to section 241 of the Hong
Kong Companies Ordinance, a meeting of Creditors of Sino Century
Holdings Limited will be held at 5/F, Allied Kajima Building,
138 Gloucester Road, Wanchai, Hong Kong on 10 November 2004 at
3:30 p.m. for the purpose of considering and, if deemed fit,
approving the voluntary winding up of the Company and the
appointment of Joint and Several Liquidators of the Company, and
considering further matters in relation to sections of the
Companies Ordinance.

Creditors may vote either in person or by proxy.

Proxies must be lodged at 7th Floor, Allied Kajima Building, 138
Gloucester Road, Wan Chai, Hong Kong not later than 4:00 pm on 9
November 2004.

Dated this 15th day of October 2004.


SPARKCOM LIMITED: May Face Voluntary Winding Up
-----------------------------------------------
Notice is hereby given that, pursuant to section 241 of the Hong
Kong Companies Ordinance, a meeting of Creditors of Sparkcom
Limited will be held at 5/F, Allied Kajima Building, 138
Gloucester Road, Wanchai, Hong Kong on 10 November 2004 at 3:45
p.m. for the purpose of considering and, if deemed fit,
approving the voluntary winding up of the Company and the
appointment of Joint and Several Liquidators of the Company, and
considering further matters in relation to sections of the
Companies Ordinance.

Creditors may vote either in person or by proxy.

Proxies must be lodged at 7th Floor, Allied Kajima Building, 138
Gloucester Road, Wan Chai, Hong Kong not later than 4:00 pm on 9
November 2004.

Dated this 15th day of October 2004.


WING CHEONG: Sets November 2 for Creditors Meeting
--------------------------------------------------
Notice is hereby given that, pursuant to section 241 of the Hong
Kong Companies Ordinance, a meeting of Creditors of Wing Cheong
Loong Company Limited will be held at 5/F, Allied Kajima
Building, 138 Gloucester Road, Wanchai, Hong Kong on 10 November
2004 at 2:45 p.m. for the purpose of considering and, if deemed
fit, approving the voluntary winding up of the Company and the
appointment of Joint and Several Liquidators of the Company, and
considering further matters in relation to sections of the
Companies Ordinance.

Creditors may vote either in person or by proxy.

Proxies must be lodged at 7th Floor, Allied Kajima Building, 138
Gloucester Road, Wan Chai, Hong Kong not later than 4:00 pm on 9
November 2004.

Dated this 15th day of October 2004.


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


BANK MANDIRI: Branch Receives Bomb Threat
-----------------------------------------
A phoned-in bomb threat caused panic among employees of Bank
Mandiri's Pekanbaru branch on Wednesday, reports The Jakarta
Post.

An anonymous woman caller threatened to set off a bomb at the
building, sparking alarm among the bank staff.

The bank's operational manager Mirza Yunan Rivai said the
telephone operator informed him about the call, which was
received at around 10:00 a.m.

However, police personnel who came to comb the area concluded
there was no bomb and that the threat was just a hoax.

CONTACT:

PT Bank Mandiri
Jl Jend Gatot Subroto Kav 36-38
Jakarta 12190
Indonesia
Phone: +62 21 5299 7777/5296 4023
Web site: http://www.bankmandiri.co.id


MERPATI NUSANTARA: Finance Ministry Urges Aircraft Sale
-------------------------------------------------------
The Ministry of Finance advised state carrier PT Merpati
Nusantara Airlines to sell some of its aircraft and assets as a
short-term solution for the carrier's cash flow problems, says
The Jakarta Post.

Treasury director general Mulya Nasution confirmed the company's
other main lenders, Bank Mandiri and Garuda Indonesia, have
approved the divestment plan.

"We haven't seen any effort to improve the cash flow (in the
company). Why not unload some of its aircraft, the proceeds of
which can then be used to lease more planes so as to boost the
carrier's revenue," Mr. Mulya said.

Without elaborating how many of Merpati's 40 jets will be sold,
Mr. Mulya explained the move would secure the company's
financial balance for four months before the planned conversion
of the carrier's government debt materializes.

Currently, Merpati owes the state IDR225 billion, Garuda
Indonesia IDR246.7 billion, and Bank Mandiri IDR230.3 billion.

Under its debt-restructuring scheme, Merpati had asked the
government to convert the debt into participation capital to be
paid after the divestment of part of its shares to strategic
investors.

The government, on the other hand, has called for a special
auditing of state-owned Merpati Nusantara Airlines before
approving its proposal for debt restructuring.

CONTACT:

Merpati Nusantara Airlines
Jl. Angkasa Blok B-15 Kav. 2-3
Jakarta 10720 - Indonesia
Phone: (021) 6548888
Fax: (021) 6540620
E-mail: marketing@merpati.co.id


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


ALL NIPPON: Mulls Domestic Fare Hike
------------------------------------
All Nippon Airways (ANA) is likely to raise domestic fares again
due to skyrocketing fuel prices, The Japan Times reports.

ANA President Yoji Ohashi said Wednesday the carrier is planning
to hike airfares to cope with rising fuel costs. He did not
elaborate when and by how much the ticket prices will increase.

"We've just begun studying measures against higher fuel costs,
including raising fares. It is inevitable to consider raising
fares," said airline president Yoji Ohashi.

Soaring fuel prices have hurt Japan's largest carriers, ANA and
Japan Airlines.

In July, ANA said rising oil prices would cost the firm JPY9
billion in the current fiscal year. JAL, likewise, said the
upward trend of oil prices would cause a JPY30 billion drop in
operating profit for the full business year.

However, the two giant airlines have been reluctant to hike
domestic fares, saying they would offset the shortfall by
cutting costs and raising international airfares by 5 percent.

The last rise in domestic fares was in July 2003, when the war
in Iraq and the outbreak of severe acute respiratory syndrome
forced the two carriers to cover the losses from international
flight operations.

CONTACT:

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


DAIEI INCORPORATED: IRCJ To Seek Ideas From Sponsors
----------------------------------------------------
The Industrial Revitalization Corporation of Japan (IRCJ) will
design a rehabilitation plan for Daiei Incorporated by the end
of the year, taking into account the intentions of candidate
sponsors, Japan Today relates, citing Kyodo News.

The state-backed turn-around body will start soliciting
proposals from candidates around mid-November to help
restructure the ailing retailer's business. The suggestions will
then be used as a guide in mapping out its own rehabilitation
scheme, as well as in short listing candidates to sponsor
Daiei's revival by the end of March next year.

Last week, Daiei decided to turn to the 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.

Two days after the firm sought IRCJ's aid, Daiei President Kunio
Takagi announced his resignation effective today to take
responsibility of the company's collapse.

CONTACT:

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


JAPAN AIRLINES: To Expand Haneda Airport Facilities
---------------------------------------------------
From December 21, Japan Airlines domestic passenger facilities
at Tokyo's Haneda Airport will be doubled in area after the
airline expands to both wings of the currently named Haneda
Airport West Terminal, making possible major service
improvements.

This expansion has been made possible by the opening of the new
Haneda Number Two Terminal on December 1 and the transfer there
of operations of other Japanese domestic carriers. The West
Terminal will be renamed Number One Terminal.

Up to now JAL has occupied only the South Wing of the West
Terminal. By expanding services to the North Wing, JAL will have
double the space available for passenger check in operations,
and will operate a much more customer friendly and spacious
facility.

JAL's service expansion at Haneda, the 4th busiest airport in
the world in terms of passengers handled annually, will include
a new check-in counter layout. Counters for JAL destinations in
central, western and southern Japan will be located in the South
Wing. Counters for JAL destinations in northern, northeastern
Japan and the northern Japan Sea coast will be located in the
North Wing.

With double the number of boarding bridges (new total 24) in the
expanded terminal, access to 90% of all JAL Group flights at
Haneda � 386 per day in December - will be by boarding
bridges (currently 70%). Improved aircraft access will reduce
walking time to aircraft and cut the number of departing and
arriving flights now requiring bus servicing.

JAL will also increase the number of self check-in machines by
20% to 62 units. Additional security gates � from 22 to 30 -
will ease the flow of passengers through security inspections.
JAL will introduce electric cart service to move passengers with
reduced mobility around the bigger terminal

Next February at Haneda Terminal Number One JAL will be the
first Japanese airline to launch a new ticket-less check-in
service at for passengers, using a special card with an embedded
integrated circuit chip (IC card).

The new JAL IC Check-in service will allow cardholders to board
domestic flights without a ticket or a boarding pass,
eliminating the need to queue at airport check-in counters or to
use a self check-in machine. Card holders just `'Touch and Go''
with their card at the boarding gate. After inauguration at
Haneda this new service will be introduced at other domestic
airports in Japan.

Ticket-less passengers reserve via Internet. All relevant data
for their flight booking is recorded in the system and their
card is recognized when swiped by the system's sensors. Access
to boarding areas is made by using the `'Touch and Go'' card at
the security checkpoint.

CONTACT:

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


JAPAN AIRLINES: Boosts Code Sharing with China Eastern
------------------------------------------------------
Japan Airlines and partner China Eastern Airlines Corporation
Limited will increase their code share flights on the Tokyo-
Shanghai and Osaka-Shanghai routes and will provide an enhanced
flight schedule for passengers on these busy routes by spreading
the departure times of the flights.

From December 1st, the airlines will operate two additional one-
way flights on the Tokyo-Shanghai route, offering in total five
daily flights from Tokyo to Shanghai and four flights on the
Shanghai-Tokyo sector.

From October 31st, on the Osaka-Shanghai route, the carriers
will increase the number of one-way flights with five code share
operations, resulting in a total of five round trip flights per
day.

JAL and China Eastern have been code share partners since
September 2002. Currently, the arrangement includes code share
flights between Shanghai and Tokyo, Osaka, Nagoya and Sapporo
and flights between Osaka and Qingdao and Osaka and Kunming. JAL
and China Eastern also operate three weekly cargo freighter code
share flights between Tokyo and Shanghai.

With these changes, JAL will continue to be the airline offering
the biggest network between Japan and China. Currently 2004, JAL
serves 13 cities in China on 27 routes with a total of 218
flights per week including code shares. From December 1st the
flight total will increase to 236 flights a week, comprising 162
JAL flights and 74 by code share partners.


MITSUBISHI FUSO: Parts Dearth Bogs Down Recalls
-----------------------------------------------
An insufficient supply of replacement parts has hampered the
recall of defective vehicles by Mitsubishi Truck and Bus
Corporation, leading to five recent mishaps that injured nine
people, according to The Asahi Shimbun.

The scandal-hit truck maker in June notified the Ministry of
Land, Infrastructure and Transport of its intention to recall
faulty vehicles, many of which are still on the road because
replacement parts are not available.

Mitsubishi Fuso conducted the recalls in order to replace flawed
parts including clutch housings, fuel tanks, and seats.

Since the Company could not quickly manufacture enough parts to
replace the substandard ones, Mitsubishi Fuso informed the
transport ministry that it will conduct provisional repairs if
needed parts do not become available.

Last week, the ministry ordered the owners of Mitsubishi Fuso
trucks to stop operating their vehicles unless they are
repaired. Non-compliance with the order could result in
punishment.

But there is no point in taking a recalled vehicle to a
Mitsubishi Fuso-affiliated repair garage because there would not
likely be any parts available to fix it, say truckers.

"If they tell us to stop operations because it's dangerous to
operate Mitsubishi Fuso vehicles, we would. But there is a limit
to that because we have work to do," a Japan Trucking
Association official added.

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: Moving Towards Hybrid Engine Technology
----------------------------------------------------------
Embattled carmaker Mitsubishi Motors Incorporated announced in a
press release that its Eclipse Concept car represents a new
direction for hybrid engine technology.

Mitsubishi Motors' Eclipse Concept-E may just look like another
stylish coupe from the outside, but beneath its flowing
sculptured surfaces lies an extremely innovative hybrid
performance vehicle.

Offering very competitive levels of dynamic handling and
exhilarating performance, the Eclipse Concept-E gives graphic
expression to Mitsubishi's focus on delivering pure driving
pleasure. The 'E-Boost' high-performance hybrid propulsion
system powering Concept-E also achieves an ideal balance between
driving and environmental performance, as it delivers breath-
taking acceleration while returning low fuel consumption and low
emission levels.

To view the full media release, click on:
http://bankrupt.com/misc/TCRAP_MITSUBISHIMOTORS102104.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


RESONA HOLDINGS: To Return JPY700-Bln in Taxpayers' Money
---------------------------------------------------------
Resona Holdings Incorporated will repay by 2009 around JPY700
billion of the JPY3.2 trillion in taxpayers' money it had
received, The Asahi Shimbun says.

Resona is considering the plan in a bid to avoid ceding more
stockholder voting rights to the government.

According to sources, the banking group will start allocating
its surplus in the current fiscal year to repurchase JPY700
billion worth of preferred shares.

Resona is under pressure to buy the preferred shares since a
large portion of the said shares are scheduled for automatic
conversion in 2009.

The government, which already holds 50.1 percent of Resona
Holdings' common shares, will obtain additional voting rights if
the preferred shares are left unattended.

The plan to set aside surplus to refinance the capital infusions
from the state to predecessor banks will be included in a
business rehabilitation plan to be released early next month.

But Resona, which is now undergoing restructuring under
temporary state control, has yet to design a scheme to repay the
JPY2 trillion it received through a major government bailout
package in 2003 following its capital deficit.

For the current fiscal year, Resona Holdings expects to book
more than JPY200 billion in net profit, exceeding its initial
estimate of JPY170 billion.

The improved outlook is attributed mainly to surplus loan loss
reserves that resulted from the company's bad-loan cleanups.

CONTACT:

Resona Holdings, Inc.
2-1, Bingomachi 2-chome, Chuo-ku
Osaka, 540-8608, Japan
Phone: +81-6-6271-1221
Fax: +81-6-6268-1337
Web site: http://www.resona-hd.co.jp


UFJ HOLDINGS: Bank Chief to Step Down as Head of Banker's Group
---------------------------------------------------------------
The chairman of UFJ Bank will step down as head of the Osaka
Bankers Association, The Japan Times reveals.

Chairman Ryosuke Tamakoshi's resignation comes amid accusations
that UFJ Bank, the core banking unit of troubled UFJ Holdings
Incorporated, impeded government inspections.

At a Directors' meeting set to be held next month, the
association will discuss candidates to replace Mr. Tamakoshi,
while Kinki Osaka Bank President Hiroyuki Mizuta may be made
acting head.

Mr. Tamakoshi, who took over former UFJ Bank President Masashi
Teranishi as head in June, was scheduled to serve until April
next year.

Mr. Teranishi resigned as head of the Osaka banker's body after
he stepped down as UFJ Bank president to take the blame for the
banking group's poor business results.

In a related development, UFJ Bank President Takamune Okihara on
Tuesday gave up his post as vice chairman of the Japanese
Bankers Association over UFJ Bank's alleged obstruction of
inspections, violating the Banking Law.

CONTACT:

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


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


KOREA EXCHANGE: Union Questions Scale of Layoffs
------------------------------------------------
Korea Exchange Bank (KEB) denied claims of labor union that it
will downsize its workforce by 1,200, reports Asia Pulse, citing
Yonhap News.

According to a KEB official, the number of job cuts would be
less than 980 or 16 percent of its 5,600 workforce, which was
announced well beforehand.  But union officials are asking
management to explain the increased number of employees to be
laid off.

The KEB labor union claimed on its Internet site Tuesday that
bank management had notified 1,200 employees that they were
subject to possible redundancy.

Workers who will take the redundancy will receive severance
benefits equivalent to 26 to 29 months worth of salary.

The bank's move to lay off workers is in line with its banks aim
to boost its efficiency.

CONTACT:

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


KOREA POST: Suffers KRW166.2Bln Loss on Investments
---------------------------------------------------
Korea Post reported a KRW166.2 billion (US$145 million) loss
last year after investing in two troubled companies, LG Card Co.
(KSE:032710) and SK Global Co., Yonhap News reported, citing the
Ministry of Information and Communications.

The purchase of shares from LG Card generated a KRW98 billion
loss for Korea Post.  A KRW68.2 billion in investment loss was
posted upon purchasing shares from SK Global.

Last year, the postal service also reported an investment loss
of KRW22 billion won in managing some derivative products, the
ministry said in a report to an annual parliamentary audit.


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


ANCOM BERHAD: Purchases 2,800 Ordinary Shares on Buy Back
---------------------------------------------------------
Ancom Berhad disclosed to the Bursa Malaysia Securities Berhad
the details of its shares buy back notice on October 20, 2004.

Date of buy back: 20/10/2004

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

Total number of shares purchased (units): 2,800

Minimum price paid for each share purchased (RM): 0.775

Maximum price paid for each share purchased (RM): 0.775

Total consideration paid (RM):

Number of shares purchased retained in treasury (units): 2,800

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

Cumulative net outstanding treasury shares as at to-date
(units): 5,124,800

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

CONTACT:

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


AOKAM PERDANA: Unveils Production Figures for September
-------------------------------------------------------
Aokam Perdana announced that its production figures for the
month of September 2004 were 63,606.18 m2 of veneer and 101.57
m3 of mouldings.

CONTACT:

Aokam Perdana Berhad
189 Jalan Tun Razak
Kuala Lumpur, 50400
MALAYSIA
Telephone: +60 3 2166 3466
Telephone: +60 3 2166 3455


DENKO INDUSTRIAL: Unit Faces Winding Up Petition
------------------------------------------------
Denko Industrial Corporation Berhad (Denko) announced that on 12
October 2004, Skiva Marketing Sdn. Bhd (SMSB), a wholly owned
subsidiary of the Company, has received a winding-up petition
(KL High Court Winding-up No. D8-28-663-2004) dated 21 September
2004 filed by Messrs. K.B. Chua & Co acting for Dickson Wong (M)
Sdn Bhd.

(1) Under the petition Dickson Wong (M) Sdn Bhd. claimed a sum
of RM277,927.07 for goods sold and delivered and service
rendered to SMSB.

(2) The details of the default or circumstances leading to the
filing of the winding-up petition:

Date               Sequence of events

2 July 2004        Letter of demand was served on SMSB
4 August 2004      Notice pursuant to Section 218 was served
12 October 2004    Winding up petition served on SMSB

(3) The total cost of investment in Skiva Marketing Sdn. Bhd. is
RM6,672,070. A full provision for diminution in value has been
made in the accounts of Denko.

(4) However, Denko does not expect any material impact on the
operations of the Group as the expenses and investment in SMSB
have been provided for and/or fully written-off. Save for the
corporate guarantee provided by Denko that may be called upon by
SMSB banker would be RM2,510,000.

(5) The expected losses, if any, arising from the winding-up
proceedings are legal costs and fees arising from defending the
case.

(6) SMSB would take the following steps with regards to the
winding-up petition:

a) The management of SMSB is in the process of negotiating an
amicable settlement and to have the winding-up petition
withdrawn; and

b) Should the winding-up proceedings continue, the management of
SMSB would defend and apply to strike-off the winding-up
petition.

CONTACT:

Denko Industrial Corp. Berhad
Lot 4.21, 4th Floor, Plaza Prima
4 1/2 Miles, Jalan Klang Lama
58200 Kuala Lumpur
Telephone: 03-7983 9099
Fax: 03-7981 7629


FABER GROUP: Granted Listing of 354,400 New Ordinary Shares
-----------------------------------------------------------
Faber Group Berhad's additional 354,400 new ordinary shares of
RM1.00 each issued pursuant to the Conversion of RM708,800
nominal value of 2000/2005 irredeemable convertible unsecured
loan stocks into 354,400 new ordinary shares will be granted
listing and quotation with effect from 9 a.m., Friday, 22
October 2004.

CONTACT:

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


KUMPULAN BELTON: Releases Default Status Notice
-----------------------------------------------
The Board of Directors of Kumpulan Belton Berhad announced
updates on the status of the Company's default in payment and
involvement in litigation for the period from September 24, 2004
to the date of this announcement.

For more information, go to
http://bankrupt.com/misc/tcrap_kumpulan102104.doc

CONTACT:

Kumpulan Belton Berhad
Lot 10 Sungai Siput Light Indus'l Estate
31100 Sungai Siput, Perak Darul Ridzuan 48000
MALAYSIA
+60 3 6257 2233
+60 3 6257 8989

This announcement is dated 20 October 2004.


KUMPULAN EMAS: Bursa Exchange Removes ICULS Listing on Nov 18
-------------------------------------------------------------
Kumpulan Emas Berhad announced the maturity of irredeemable
convertible unsecured loan stocks 1999/2004 (ICULS 1999/2004)
with the following details:

(1) Trading of the ICULS 1999/2004 will be suspended with effect
from 9 a.m., Wednesday, 27 October 2004.

(2) The ICULS 1999/2004 will be removed from the Official List
of the Bursa Malaysia Securities Berhad (Exchange) with effect
from 9 a.m., Thursday, 18 November 2004.

Your attention is drawn to KEMAS' Notice to Holders of ICULS
1999/2004 dated 14 October 2004.


LAFARGE MALAYAN: Unit Enters Liquidation
----------------------------------------
Lafarge Malayan Cement Berhad refer to its announcement dated 22
Dectember 2003, in connection with the Member's Voluntary
Liquidation of Taimet Concrete Industries Sdn Bhd (TCI), a
subsidiary of the Company.

The Company announced that following the Final Meeting of TCI
convened on 18 October 2004 to conclude the Member's Voluntary
Liquidation of TCI, the Liquidator have on 19 October 2004
lodged a Return Relating To Final Meeting with the Companies
Commission of Malaysia and with the Official Receiver. On the
expiration of 3 months after the said lodgment date, i.e. on 19
January 2005, TCI shall be dissolved.


NAIM INDAH: To List Additional Shares
-------------------------------------
Naim Indah Corporation Berhad's additional 210,000 new ordinary
shares of RM0.20 each arising from the conversion of 210,000
nominal value of RM0.20 irredeemable convertible unsecured loan
stocks into 210,000 new ordinary shares was granted listing and
quotation on 21 October 2004.

CONTACT:

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


NAM FATT: Notes Additional Listing Of Shares
--------------------------------------------
Nam Fatt Corporation Berhad's additional 4,660,736 new ordinary
shares of RM1.00 each issued pursuant to the conversion of
RM4,660,736 irredeemable convertible unsecured loan stocks will
be granted listing and quotation with effect from 9.00 a.m.,
Monday, 25 October 2004.

CONTACT:

Nam Fatt Corporation Berhad
40B Persiaran Sultan Ibrahim
41300 Klang, Selangor Darul Ehsan 41300
Malaysia
Tel: +60 3342 0766
Tel: +60 3342 7830


PSC INDUSTRIES: Answer Bursa Malaysia Query
-------------------------------------------
PSC Industries Berhad replies to queries from the Bursa Malaysia
Securities Berhad dated 18 October 2004 relating to the proposed
revision to the proposed restructuring scheme and proposed
restricted offer for sale as follows:

Avenue Securities Sdn Bhd announced the following additional
information as requested by Bursa Securities for public release:

(1) PSCI has sought clarification with Business Focus Capital
Sdn Bhd (BF Capital) on the reasons of Affin Bank Berhad (ABB)'s
action to terminate the debt purchase arrangement between BF
Capital and ABB (Arrangement) which forms part of the Proposed
Debt Restructuring. As at the date hereof, PSCI has not received
any updates from BF Capital on the above.

(2) In the event that the termination of the Arrangement is
valid, the Revised Proposals will not be implemented as the
Arrangement forms an integral part of the Proposed Debt
Restructuring.

(3) PSCI will continue to liaise with BF Capital on the status
of the Arrangement. An announcement will be made should there be
any new development on the termination of the Arrangement by
ABB. Pending the outcome of the resolution on the status of the
Arrangement between BF Capital and ABB, PSCI will continue to
undertake the necessary steps to facilitate the implementation
of the Revised Proposals.

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 20 October 2004.


SRIWANI HOLDINGS: Notes Expiry Of Warrants 1994/2004
----------------------------------------------------
Sriwani Holdings Berhad announced the expiry of its Warrants
1994/2004 as follows:

(1) Trading of Warrants 1994/2004 will be suspended with effect
from 9.00 a.m., Friday, 29 October 2004.

(2) The Warrants 1994/2004 will be removed from the Official
List of Bursa Malaysia Securities Berhad with effect from 9.00
a.m., Monday, 22 November 2004.

Your attention is drawn to the notice to holders of Warrants
1994/2004 dated 20 October 2004.

CONTACT:

Sriwani Holdings Berhad
Wisma Sriwani, 418 Chulia Street
10200 Penang
Telephone: 04-2628535
Fax: 04-2614076
Web site: http://www.sriwani.com.my


RNC CORPORATION: Proposes Debt Restructuring Scheme
---------------------------------------------------
RNC Corporation Berhad refers to the announcement dated 18
November 2003 on the Securities Commission's (SC) approval on
the modifications to the Proposed Corporate and Debt
Restructuring Scheme (Proposed Scheme) of the Company.

Among the conditions imposed on the said approval was the
requirement for a full provision to be made in respect of trade
debts of the acquiree companies, which are in dispute, under
litigation or which have exceeded a six (6) month period. It was
also stated that the valuation of the acquiree companies would
need to be re-assessed in view of the condition imposed on the
provisions required on the trade debtors of the acquiree
companies.

In view of the aforementioned conditions imposed by the SC,
Messrs Ernst & Young was engaged to carry out a revised
independent valuation on the assets that will be acquired by
Aliran Ihsan Resources Berhad pursuant to the Proposed Scheme.
Based on the revised valuation, several further modifications
have been proposed to the terms of the Proposed Scheme.

On 22 September 2004, OSK Securities Berhad, on behalf of the
Special Administrators of RNC Corporation Berhad (RNC" or
"Company) had written to the Ministry of International Trade and
Industry (MITI), among others, to seek its approval on the
further modifications to the Proposed Scheme.

On behalf of the Special Administrators of RNC, we are pleased
to announce that the MITI had vide its letter dated 19 October
2004, approved the further modifications to the Proposed Scheme.

CONTACT:

RNC Corporation Berhad
20/F East Wing Plaza Permata
Jalan Kampar Off Jalan Tun Razak, 50400 Kuala Lumpur Wilayah
Persekutuan
Malaysia
Telephone: +60 3 4043 9411
Telephone: +60 3 4043 1233

This announcement is dated 20 October 2004.


SELOGA HOLDINGS: Unit Enters Sale Purchase Agreement
----------------------------------------------------
The Board of Directors of Seloga Holdings Berhad announced that
SHB's wholly-owned subsidiary, Seloga Jaya Sdn. Bhd. (SJSB), has
on 20 October 2004 entered into a Sale and Purchase Agreement
(SPA) with MTL Engineering Sdn. Bhd. (295623-X) (the Purchaser)
to dispose a leasehold industrial land measuring in an area
approximately of 0.8296 hectar held under H.S.(M) 9048, No. P.T.
3883 in the Mukim Sungai Buluh, District of Petaling, State of
Selangor known as Subang New Village, Mukim Sungai Buloh, Daerah
Petaling, Selangor Darul Ehsan (the Property) for a total cash
consideration of RM1.428 million (the Disposal).

INFORMATION ON THE PURCHASER

The Purchaser is a private limited company incorporated in
Malaysia and having its registered office at PT 11080, Solok
Teluk Batu 1, Taman AMJ Industrial Park, Batu 4, Seksyen 36,
40460 Shah Alam, Selangor Darul Ehsan.

INFORMATION ON SJSB

SJSB was incorporated in Malaysia on 26 December 1974. It has an
authorized capital of RM100.0 million comprised of 100.0 million
ordinary shares of RM1.00 each (OS) and an issued and paid-up
capital of RM65.0 million comprising of 65.0 million OS.

The principal activities of SJSB consist of civil engineering,
construction and investment holding.

INFORMATION ON THE DISPOSAL/PROPERTIES

SJSB acquired the land on 12 September 1984. The original cost
of investment of the Property is RM230,000/-. The net book value
of the Property based on the latest audited accounts as at 31
December 2003 is RM719,298/-. The property is currently charged
to RHB Bank Berhad (RHB) in consideration of banking facilities
granted to SJSB.

The Purchase Price was arrived at on a willing buyer-willing
seller basis.

SJSB agreed to sell and the Purchaser agreed to purchase the
Property free from all encumbrances and with vacant possession,
upon all the terms and conditions set out in the SPA.

The Purchaser has paid SJSB RM142,800/- by way of deposit with
the balance of RM1,285,200/- (the Balance Sum) to be paid within
a period of three (3) months from the date of the SPA.

SALIENT TERMS OF THE SPA

The salient terms of the SPA governing the Disposal are as
follows:

(a) Upon execution of the SPA:

(i) The Purchaser shall pay SJSB the Balance Sum within a period
of three (3) months from the date of the SPA

In the event the Purchaser is unable to pay the Balance Sum
within the aforesaid period, SJSB shall automatically grant a
further period of thirty (30) days provided always that the
Purchaser shall be liable to pay SJSB interest on the
outstanding Balance Sum at the rate of 8% per annum calculated
on a daily basis.

(ii) SJSB irrevocably agrees and consents to the lodging of a
Private Caveat and/or Lien Holder's Caveat, as the case may be,
against the Property at the Purchaser's own costs and expenses.

(b) SJSB has authorized that the Balance Sum be utilized towards
payment of redemption sum due to RHB. In the event the
redemption sum exceeds the Balance Sum, SJSB shall
unconditionally within fourteen (14) days upon receipt of
written notification thereof pay RHB such amount of the
shortfall in order to redeem the Property.

(c) SJSB is to secure the discharge of charge and release the
original issue document of title of the Property so as to affect
the registration of the transfer of Property in favor of the
Purchaser and the Memorandum of Discharge in favor of the
Purchaser's financier.

(d) The Balance Sum shall only be released to SJSB after seven
(7) days from the date of presentation for registration of the
Memorandum of Transfer and all relevant documents at the
appropriate Land Authority.

(e) SJSB agrees to liquidate damages of 10% of the Purchase
Price in the event SJSB willfully fails to effect the transfer
of the Property to the Purchaser.

(f) SJSB shall deliver vacant possession of the Property to the
Purchaser upon receipt of the full payment of the Purchase
Price.

RATIONALE FOR DISPOSAL

The Disposal provides the opportunity for SJSB to sell the land
which is a surplus to the Group's assets requirements.

It will also allow re-investment of the sale proceeds into other
purposes and realization of capital gain.

EFFECTS OF THE DISPOSAL

Share Capital
The Disposal will not have any effect on the issued and paid-up
share capital of SHB.

Earnings
The disposal is expected to result in a gain of RM0.709 million.

Net tangible assets (NTA) per share
The disposal will increase the Group's NTA by RM0.007 per share.

Substantial shareholders' shareholdings
The Disposal will have no effect on the shareholdings of the
substantial shareholders of SHB.

RISK FACTOR

The Disposal provides SJSB with the opportunity to realise
capital gains and reduce the surplus of the Group's
requirements.

SHB is not expected to have any liabilities arising from the
Disposal.

APPROVAL REQUIRED

The Disposal is not subject to approval of any authorities or
SHB's shareholders.

DIRECTORS' AND MAJOR SHAREHOLDERS' INTERESTS

None of the Directors and/or major shareholders of SHB and/or
any persons connected with them have any interest, direct or
indirect in the Disposal.

DIRECTORS' RECOMMENDATION

The Board of Directors of SHB, after due consideration of all
relevant aspects of the Disposal, is of the opinion that the
Disposal is reasonable and in the best interest of the Company.

TIME FRAME FOR COMPLETION

Barring any unforseen circumstances, the Disposal is expected to
be completed within 3 months from the date of the SPA.

DEPARTURE FROM THE SECURITIES COMMISSION'S GUIDELINES (SC'S
GUIDELINES)

Insofar as the Directors of SHB can ascertain, there is no
departure from the SC's Guidelines.

DOCUMENTS FOR INSPECTION

The SPA between SJSB and the Purchaser dated 20 October 2004 is
available for inspection at SHB's registered office located at
312, 3rd Floor, Block C, Kelana Square, 17 Jalan SS7/26, 47301
Petaling Jaya, Selangor Darul Ehsan during normal business hours
from Mondays to Fridays (except for public holidays) for a
period of three (3) months from the date of this announcement.

CONTACT:

Seloga Holdings Berhad
No 1 Jalan USJ 10/1A UEP Subang Jaya
47620 Petaling Jaya  Selangor Darul Ehsan
MALAYSIA
Phone: +60 3 2274 7788


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


GRAND BOULEVARD: Court OKs Debt Rehab Petition
----------------------------------------------
The Manila Regional Trial Court (RTC) has granted Grand
Boulevard Hotel's petition to suspend debt payments worth US$19
million, the Business World reports.

RTC Judge Antonio M. Eugenio also appointed Celso P. Vivas to be
the rehabilitation receiver of the hotel, formerly named Silahis
Hotel, Inc. Mr. Vivas must post a bond of PhP1 million upon his
acceptance of the post, according to the order.

As it undergoes rehabilitation, the court directed the hotel
"from making any payment of its liabilities outstanding as at
the date of the filing of the petition."

It also prohibited Grand Boulevard from "selling, encumbering,
transferring, or disposing" any of its properties, except in the
ordinary course of business.

The hotel owes a syndicated loan worth US$19 million to Export
and Industry Bank, Land Bank of the Philippines, Security Bank,
and United Overseas Bank.

CONTACT:

Grand Boulevard Hotel
1990 Roxas Boulevard
Manila, National Capital Region 1004
Philippines
Telephones
General Information - +63 (2) 525-7966
General Information - +63 (2) 526-0122
FAX - +63 (2) 525-6437


MANILA ELECTRIC: Clarifies "Seeks US$240M Refund Renewal" Report
----------------------------------------------------------------
This is in reference to the news article entitled "Meralco seeks
to renew $240-M loans for last phase of refund" published in the
October 20, 2004 issue of The Philippine Star (Internet
Edition).

The article reported that "Manila Electric Co. (Meralco) is
working out with its creditors the refinancing of $240-million
worth of loans to fund the last phase of the company's refund
program, company officials said. 'We are having discussions with
our creditors to lengthen the maturity of both our long-term and
short-term loans,' Meralco president Jesus Francisco said in a
phone interview. Francisco said they expect to firm up a
refinancing package with their creditors before the end of the
year. The Meralco officials said refinancing of these loans is
necessary to help the company pay out Phase IV of the refund
process amounting to P28 billion."

Manila Electric Company (Meralco), in a letter to the Philippine
Stock Exchange dated October 20, 2004, stated that:

" We confirm the contents of the said news article. However, we
would like to make a correction on the following statement:

`Manila Electric Co. (Meralco) is working out with its creditors
the refinancing of $240-million worth of loans to fund the last
phase of the company's refund program, company officials said.'
Please be informed that the proceeds from the refinancing
activity is not intended to fund the last phase of the Company's
refund program inasmuch as refinancing does not involve raising
new cash but a mere extension of the maturities of existing
loans."

For your information,
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


METRO PACIFIC: Issues Notice to Nenaco Shareholders
---------------------------------------------------
This is in reference to Circular for Brokers No. 4565-2004 dated
October 15, 2004 pertaining to the Tender Offer Report (SEC Form
19-1) which Metro Pacific Corporation (MPC) submitted to the
Philippine Stock Exchange, in connection with its offer to
acquire 84,934,375 common shares of Negros Navigation Company,
Inc. (Nenaco) at the tender offer price of Php0.16 per share.

In relation thereto, MPC provided the Philippine Stock Exchange
a notice to Shareholders of Nenaco that will be published for
two (2) consecutive days in the Business Sections of the
BuisnessWorld and The Philippine Star starting today, October
20, 2004 to October 21, 2004.

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

For a copy of the notice, go to
http://bankrupt.com/misc/tcrap_mpc102104B.pdf

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


METRO PACIFIC: Open to Bourse Review, Says VP
---------------------------------------------
Metro Pacific Corporation (MPC) said it was open to regulatory
scrutiny and stressed that all of its stock market transactions
had been properly disclosed, the Philippine Daily Inquirer
reports, citing MPC Vice President David Nugent.

The statement was made after the Philippine Stock Exchange (PSE)
said it was examining trades of Metro Pacific shares, citing
disclosure concerns raised by some stockbrokers.

Mr. Nugent added that no stock exchange, here or abroad,
required an advance notice about any transaction.

He also denied allegations that Metro Pacific was involved in a
hype-and-dump scheme, a form of stock price manipulation, when
the shares of Metro Pacific went up last September.


NATIONAL BANK: Discloses September NPL Ratio
--------------------------------------------
Philippine National Bank (PNB) said its non-performing loans
(NPL) totaled PHP47.79 billion, or 46 percent of its loan
portfolio, as of September 21, Dow Jones reports.

As of end-June 23, its bad loans totaled PHP44.89 billion, or 44
percent of its loan portfolio. The bank has the highest non-
performing loan ratio among the country's big banks.

CONTACT:

Philippine National Bank
PNB Financial Center
CCP Complex,
Pres. Diosdado P. Macapagal Boulevard,
Pasay City
Philippines 1300
Tel Nos.: (+63-2) 891-6040 to 70


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


BINTAN LAGOON: Goes Into Receivership
-------------------------------------
Bintan Lagoon Resort has been placed under receivership,
bringing end to long drawn negotiations, reports The Business
Times.

The Singapore-based Company, which owes a total of SG$129
million, has not repaid its SG$53 million worth of bonds since
late 2000 when the debt matured. But its creditors, including
POSBank, which is owed SG$20 million, have been repaid.

Ernst & Young is the appointed Company receiver and Manager who
is to be represented by Mr. Ong Yew Huat.

The firm's principal asset is its fully owned Indonesian
subsidiary, PT Bintan Lagoon Resort, which owns the namesake
resort on Bintan.

CONTACT:
Bintan Lagoon Resort
Singapore Sales Office
3 Lim Teck Kim Road
#01-01/02 Singapore Technologies Building
Singapore 088934
Phone : (65) 6226 3122
Fax : (65) 6223 0693
Email : sales@bintanlagoon.com


KOH BROTHERS: Clarifies Previous Announcement
---------------------------------------------
Further to the announcement made on 19 October 2004, the board
of directors of Koh Brothers Group Limited clarified that the
Capital Distribution is not subject to the approval of the
Singapore Exchange Securities Trading Limited.

As such, approval in-principle for the Capital Distribution is
not required from SGX-ST. Therefore, SGX-ST has on 18 October
2004, given its clearance of the circular submitted by the
Company on 26 August 2004 and not its approval in-principle in
respect of the Capital Distribution.

SGX-ST's clearance of the Circular is not to be taken as an
indication of the merits of the Capital Distribution.

By order of the Board
Koh Brothers Group Limited


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


DATAMAT: Unveils Board Meeting Resolutions
------------------------------------------
Datamat Company Limited (DTM) disclosed to the Stock Exchange of
Thailand (SET) the resolution of the Board of Directors' Meeting
No. 9/2004 on the issuance and offer of Warrants to the
shareholders of DTM who exercise their rights to purchase DTM's
capital increase shares.

Since the announcement of the office of the Securities and
Exchange Commission (SEC) in relation to regulating the issuance
and offer of Warrants that shall be offered to the existing
shareholders whose name appear on the registry book on the
closing date after the approval from SEC, the shareholder's
right to receive warrants is therefore scheduled on the closing
book date after the approval from SEC, which is not on November
3,2004.

The Board of Directors' will also set the new closing of
registry book for the right of Warrants.

Accordingly, the Board of Directors' will consider this matter
and report to the SET as soon as possible.

Yours sincerely,
Bhana Swasdibutara
Director

CONTACT:

Datamat Public Company Limited
Asoke Towers, Floor 17, 18 And 19,
219 Soi Asoke (Sukhumvit 21),
Sukhumvit Road, Klongtoey Nua,
Watthana Bangkok
Telephone: 0-2310-5111
Fax: 0-2319-8208
Web site: www.datamat.co.th


NFC FERTILIZER: Resolves to Increase Capital
--------------------------------------------
NFC Fertilizer Public Company Limited reported to the Stock
Exchange of Thailand (SET) the resolutions of the Board of
Directors Meeting No. 1/2004 held on October 19, 2004 at 2:20
p.m. to 4:50 p.m., concerning the increase of capital and
allotment of new shares.

(1) Capital Increase

The Board of Directors Meeting has resolved to increase its
capital from existing registered capital of THB2,486,619,720 to
THB4,000,000,000 by issuing 1,513,380,280 new ordinary shares at
the par value of THB1 (One Baht).  The total capital increase
will be THB1,513,380,280.

(2) Allotment of New Shares

The Board of Directors Meeting has resolved to allocate
1,513,380,280 ordinary shares, at the nominal par value of THB1
each, totally THB1,513,380,280. The following are the details:

(2.1) The details of Allocation

Allocate to
Number of shares
Ratio
Sale price per Time & Date of share (Baht)Subscription and
Payment
Remark

(1) Public Offering of 1,336,955,720 shares

To propose to the shareholders at the Extraordinary Meeting to
consider empowering the Board of Directors or any person
entrusted by the Board of Directors to determine the said
matters.

(2) For the exercise of 176,424,560 shares

The warrants will be offered under Public Offering purchase
ordinary Basis to the specific target which are the shares of
the Company existing shareholders whose name appeared in the
Share Register Book as at the date of decreasing of the capital
of the Company i.e. May 19, 2004 at the ratio of 1 share to 2.72
warrants.

Preliminary details of the warrants are.

Issuing company: NFC Fertilizer Public Company Limited

Category of Warrants: Warrants to purchase ordinary shares of

NFC Fertilizer Public Company Limited

Warrants

Type of Warrants: Transferable and specified the name of the
holders.

Maturity Period: 3 years from the issuing date

Number of Warrants to be issued and offered for sale:
176,424,560 Units

Allocation and offering method:

Under Public Offering Basis to the specific target which are the
existing shareholders whose name appear in the Share Register
Book as at the date of decreasing of capital of the Company i.e.
May 19, 2004. At the ratio of on 1 share to 2.72 warrants.

Offering Price/Warrant: Baht 0 per unit (Free Warrant)

Exercise Ratio: One unit of warrant is entitled to one ordinary
share

Exercise Price: Baht 1 (One Baht) per share

Number of shares reserved for the exercise of warrants:
176,424,560 shares

Exercise Period:

The first exercise date will commence on the date that Warrants
have been due for a period of one year counted from the date of
issuance of Warrants.

Offering Period:

The Board of Directors or any person entrusted by the Board of
Directors will determine details and conditions after the Office
of Securities and Exchange Commission approves to offer the
Warrants for sale.

Secondary Market:

The Company will list the Warrants in the Stock Exchange of
Thailand.

(2.2) The operation of the Company in the case that there are
remaining shares:

The Company will propose the remaining shares to the
shareholders at the Extraordinary Meeting on November 23, 2004
for consideration.

(3) Convening the Extraordinary Meeting of Shareholders for an
approval of the capital increase and the new share appropriation

The Extraordinary Meeting of Shareholders No. 1/2004 will be
convened at 10:00 a.m., on November 23, 2004 at Miracle Grand
Convention Hotel Donmuang, Bangkok to determine which
shareholders are eligible to attend the shareholders meeting,
the Company will close the Share Registry Book on November 3,
2004 at 12:00 p.m. until the meeting is adjourned.

(4) Objectives of the Capital Increase and the Use of Increased
Capital

The additional capital shall be used in business operation as
the working capital and for future business expansion of the
Company.

(5) Benefits to the Company

The additional capital shall be used to reduce interest charges,
for restructuring investment and for opportunities in the future
regarding additional business operations.

(6) Benefits to the Shareholders

The Company will have the additional working capital which was
received from the increase of capital and this will create
opportunities in the future regarding additional business
operations.  This will also create an opportunity to generate
consideration in terms of dividends to shareholders in the
future.

The Company certifies that the information provided above is
correct and accurate in all respects.

(Mr.Wiboon Rasmeepaisarn)
Vice President
Finance and Accounting

CONTACT:

NFC Fertilizer Pcl
Laopengnguan Bldg 1, Floor 17-19,
333 Vibhavadi Rangsit Road,
Chatu Chak, Bangkok
Telephone: 0-2618-8100
Fax: 0-2618-8200
Website: www.nfc.co.th


NFC FERTILIZER: Unveils Resolution Adopted at Board Meeting
-----------------------------------------------------------
Whereas, the Board of Directors of NFC Fertilizer Public Company
Limited convened the Board of Directors Meeting No. 2/2004 on
October 19, 2004, the Company advised the Stock Exchange of
Thailand (SET) on the resolutions adopted at the said meeting.

(1) The Stock Exchange of Thailand sent a letter to the Company
dated October 8, 2004 informing that the Company shall issue
free warrants to existing shareholders as at the date of
decreasing of the company's capital (May 19, 2004) in order to
relieve any damages incurred to the said existing shareholders.

This makes it necessary for the Board to reconsider the new
sequence of the Board resolutions so that they shall be
consistent with the requirements of the SET.  The Board then
adopted a resolution to cancel the extraordinary meeting of
shareholders No. 1/2004 which has been scheduled for October 26,
2004 and the remaining period of the closing of share register
book from October 20, 2004 to October 26, 2004.

The Board also adopted a resolution to revoke only those of the
resolutions adopted at the Board of Directors Meeting No.1/2004
regarding increase of capital, the allocation of new shares, the
change of par value and the amendment to Clause 4 of the
Company's Memorandum of Association.

This will enable the Board to proceed with any related
transactions in order to be consistent with the issuance of
warrants in accordance with the guideline set by the SET.

2. Approval of the change of the par value of shares from
THB10 each to THB1 each and the amendment of Clause 4 of
Memorandum of Association in order to be consistent with the
change of the par value of shares as follows:

Clause 4

The Registered Capital THB2,486,619,720 Divided into
THB2,486,619,720 Shares

Par Value per share: 1 Baht

Ordinary Share: 2,486,619,720 Shares

Preferred Share-Shares

(3) Approval of the issuance of 176,424,560 units of warrants to
purchase ordinary shares.  Preliminary details of the warrants
are:

Issuing company: NFC Fertilizer Public Company Limited

Category of Warrants: Warrants to purchase ordinary shares of
NFC Fertilizer Public Company Limited

Type of Warrants: Transferable and specified the name of the
holders.

Maturity Period: 3 years from the issuing date

Number of Warrants to be issued and offered for sale:
176,424,560 Units

Allocation and offering method: Under Public Offering Basis to
the specific target which are the existing shareholders whose
name appeared in the Share Register Book as at the date of
decreasing of the capital of the Company i.e. May 19, 2004. At
the ratio of on share to 2.72 warrants.

Offering Price/Warrant: Baht 0 per unit (Free Warrant)

Exercise Ratio: One unit of warrant is entitled to one ordinary
share

Exercise Price: Baht 1 (One Baht) per share

Number of shares reserved for the exercise of warrants:
176,424,560 shares

Exercise Period: The first exercise date will commence on the
date that Warrants have been due for a period of one year
counted from the date of issuance of Warrants.

Offering Period: The Board of Directors or any person entrusted
by the Board of Directors will determine details and conditions
after the Office of Securities and Exchange
Commission approves to offer of Warrants for sale.

Secondary Market: The Company will list the Warrants in the
Stock Exchange of Thailand.

(4) Approval of the increase of registered capital, the
allocation of newly issued shares and the amendment of
Clause 4 of the Memorandum of Association as follows:

(4.1) Approval of the increase of registered capital from
existing registered capital of THB2,486,619,720 to TBH
4,000,000,000 by issuing 1,513,380,280 new ordinary shares at
the par value of THB1 (One Baht).

(4.2) Approval of the allocation of 1,513,380,280 new ordinary
shares at the par value of share THB1 (One Baht) as follows:

(a) Allocation of 176,424,560 new ordinary shares for the
exercise of the warrants to purchase ordinary shares of the
Company to be issued and offered to general public according to
details which have been approved in Clause 3.

(b) Allocation of 1,336,955,720 new ordinary shares to the
general public.

To propose to the shareholders at the Extraordinary Meeting to
consider empowering the Board of Directors or any person
entrusted by the Board of Directors to determine the offering
price, offering period, number of shares offered in each time
and the related details and conditions of the said offer of
shares for sale to public.

(4.3) Approval of the amendment of clause 4 of the Memorandum of
Association in order to be consistent with the increase of
capital as follows:

Clause 4

The Registered Capital: THB4,000,000,000

Divided into: 4,000,000,000 Shares

Par Value per share: THB1

Ordinary Shares: 4,000,000,000 Shares

Preferred Shares: none

(5) Approval of the amendment of Article 5 of the Articles of
Association and the addition of Article 59 to the Articles of
Association as follows:

"Article 5: Each share of the Company shall have equal value and
shall be paid in full.  The Company may issue preferred shares,
debentures or convertible debentures to the ordinary shares and
other securities in accordance with Securities and Exchange Law.

Preference shares (if any) may be converted to ordinary shares.
The conversion will be conducted by the submission of the
specific conversion form and return of the existing share
certificate."

"Article 59 :In the case that the Company or a subsidiary
company agrees to enter into a connected transaction or the
transaction in relation to acquisition or the disposal of assets
of the Company or of the subsidiary company, as described in the
Stock Exchange of Thailand Regulations governing connected
transactions of listed companies or the acquisition or disposal
of assets of listed companies as the case may be, then the
Company shall comply with the rules and procedures prescribed in
each aforementioned regulation".

(6) Convening the Extraordinary Meeting of Shareholders No.
1/2004 and to close the Company's share register book as
follows:

The Extraordinary Meeting of Shareholders No. 1/2004 shall be
convened at 10:00 a.m., on Tuesday November 23, 2004 at Magic
3Miracle Grand Convention Hotel. Vibhavadee-rangsit Road,
Donmuang Bangkok.

The matters to be transacted at the meeting are as follows:

(1) To consider and approve the reduction of capital from the
existing registered capital of THB3,000,000,000 to
THB2,486,619,720 by decreasing the unsold 51,338,028 ordinary
shares, at the par value of THB10 each and to consider the
amendment of Clause 4 of the Memorandum of Association in order
to be consistent with the reduction of capital

(2) To consider and approve the change of the par value of
shares from THB10 each to THB1 each and the amendment of Clause
4 of Memorandum of Association in order to be consistent with
the change of the par value of shares.

(3) To consider and approve the issuance of 176,424,560 warrants
to purchase the ordinary shares for free under Public Offering
Basis to the specific target which are the existing shareholders
whose name appeared in the Share Register Book as at the date of
decreasing of the capital of the Company i.e. May 19, 2004 and
to consider empowering the Board of Directors or any person
entrusted by the Board of Directors to determine the details and
other conditions relating to the said issuance of warrants.

(4) To consider and approve the increase of registered capital
from existing registered capital of THB2,486,619,720 to
THB4,000,000,000 by issuing 1,513,380,280 new ordinary shares at
the par value of THB1, the allocation of new ordinary shares and
the amendment of Clause 4 of the Memorandum of Association in
order to be consistent with the increase of capital and to
consider empowering the Board of Directors or any person
entrusted by the Board of Directors to determine the offering
price, the amount of shares to be offered in each time, the
offering period including other terms and conditions relating to
the said matter.

(5) To consider amending Article 5 of the Articles of
Association of the Company and adding the new Article 59 to the
Articles of Association of the Company.

(6) To consider fixing the Remuneration of Directors and the
Audit Committee.

(7) Other Business (if any).

The Company will close the Share Register Book on November 3,
2004 at 12:00 p.m. until the meeting is adjourned.

Eligible shareholders may exercise their right to attend the
Extraordinary Meeting of Shareholders.

(7) Acknowledged the resignation of Miss Apinya Chatrapimolkul
as director and approval of the appointment of Mr. Uthai
Sakulkru as a new director replacing the said resigned director.

The company therefore informs the Exchange in accordance with
the abovementioned matter for your acknowledgment and
dissemination to the public and other investors.

Sincerely yours,
NFC Fertilizer Public Company Limited
(Mr.Wiboon Rasmeepaisarn)
Vice President
Finance and Accounting


TANAYONG: Notes Update on Business Rehabilitation
-------------------------------------------------
Pursuant to the Central Bankruptcy Court's order on December 30,
2003 for the business reorganization of Tanayong Public Company
Limited and on March 15,2004 to appoint Tanayong Public Company
Limited as the Planner.

Furthermore, according to the Court Order, the Planner shall
prepare a Business Reorganization Plan and first submit the Plan
to the Official Receiver by July 27, 2004.  However the Planner
has requested for an extension of the Plan's submission to
September 27, 2004.

Now the Plan has been prepared by the Planner, which provides
business reorganization in detail in accordance with the
Bankruptcy Act B.E. 2483 as amended by Bankruptcy Act (No.6)
B.E. 2543.  The Plan was sent to the Official Receiver together
with sufficient copies to be sent to all the creditors having
voting rights and the debtor.

Furthermore, the Official Receiver decided to call for a meeting
of creditors with voting rights on Tuesday November 16, 2004 at
9:30 a.m. at Meeting room Number 1105, 11th Floor Bangkok
Insurance Building, in order to discuss whether to accept the
Plan or how to revise it.

Meanwhile, the Court had set November 29, 2004 as a date for
considering the plan.

Please be informed accordingly.

Yours sincerely,
Mr.Sudha Liptawat / Mr.Rangsin Kritalug
By Tanayong Public Company Limited
On behalf of the Planner of Tanayong Public Company Limited

CONTACT:

Tanayong Public Company Limited
100-100/1 Moo 4, Km.14,Bangna-Trat Road,
Bang Plee, Samut Prakarn
Telephone: 0-2273-8511-15
Fax: 0-2273-8516-17
Web site: www.tanayong.co.th


THAI PETROCHEMICAL: Court To Approve Rehab Plan Amendment
---------------------------------------------------------
With reference to the approval of the amendment of the Business
Reorganization Plan of Thai Petrochemical Industry Pcl (TPI) by
the creditors on October 12, 2004 in accordance with the
Bankruptcy Act B.E. 2483, the Central Bankruptcy Court has made
an appointment for the approval of the amendment on November 1,
2004.

In addition, regarding the amendment of the Business
Reorganization Plan of the Subsidiaries in the TPI Group which
consist of:

(1) TPI Oil Co., Ltd.,
(2) Thai ABS Co., Ltd.
(3) TPI Aromatics Pcl.
(4) Thai Polyurethane Industry Co., Ltd.,
(5) TPI Polyol Co., Ltd., and
(6) TPI Energy Co., Ltd.,

The Official Receiver will convene the meeting for the votes of
the creditors on the amendment on October 26, 2004.

Consequently, the Bankruptcy Court will proceed for the approval
of the amendment of these plans on November 1, 2004 as well.

Your acknowledgement of the matters is highly appreciated.

Yours sincerely,
(Suwit Nivartvong)
for The Plan Administrator
The Thai Petrochemical Industry PCL

CONTACT:

Thai Petrochemical Industry Pcl
Tpi Tower,Floor 8, 26/56
New Jun Road, Thungmahamek, Sathon Bangkok
Telephone: 0-2678-5000, 0-2678-5100
Fax: 0-2678-5001-5
Web site: www.tpigroup.co.th


* Large Companies With Insolvent Balance Sheets
-----------------------------------------------

                              Total
                                        Shareholders   Total
                                        Equity         Assets
  Company                      Ticker    ($MM)          ($MM)
  ------                       ------    ------------   -------

  CHINA & HONG KONG
  -----------------
Hainan DadongH-B               200613    (-5.15)       18.72
Hainan Dadong-A                000613    (-5.15)       18.72
Guangdong Sunrise-B            200030    (-177.22)     45.09
Guangdong Sunrise-A            000030    (-177.22)     45.09
Shenzhen China Bicycles-B
Co., Ltd.                      200017    (-203.9)      52.16
Shenzhen China Bicycles-A
Co., Ltd.                      000017    (-203.9)      52.16

  INDONESIA
  ---------
Barito Pacific Timber Tbk Pt    BRPT      (-50.67)     393.92
PT Smart Tbk                    SMAR      (-30.07)     430.99

  JAPAN
  -----

Fujitsu Comp Ltd                6719       (-46.88)    316.07
Prime Systems                   4830      (-100.79)     130.2

  MALAYSIA
  --------

CSM Corporation Bhd             CSM        (-8.40)      41.55
Faber Group Bhd                 FAB        (-7.16)     504.98
Kemayan Corp Bhd                KOP      (-353.12)      84.89
Panglobal Bhd                   PGL       (-41.07)     187.79
Sri Hartamas Bhd                SHB      (-138.37)      24.48
YCS Corporation Bhd             YCS         28.34      160.27

  PHILIPPINES
  -----------

Pilipino Telephone Co.          PLTL     (-400.56)     115.91


  SINGAPORE
  ---------

Pacific Century Regional
Developments Ltd                 PAC      (-176.29)    1050.46

  THAILAND
  --------

Asia Hotel PCL                  ASIA       (-26.62)     96.21
Asia Hotel PCL                  ASIA/F     (-26.62)     96.21
Bangkok Rubber PCL              BRC        (-41.29)     80.14
Bangkok Rubber PCL              BRC/F      (-41.29)     80.14
Central Paper Industry PCL      CPICO      (-37.02)     40.41
Central Paper Industry PCL      CPICO/F    (-37.02)     40.41
Datamat PCL                     DTM           2.27      17.21
Datamat PCL                     DTM           2.27      17.21
National Fertilizer PCL         NFC        (-91.34)    293.84
National Fertilizer PCL         NFC/F      (-91.34)    293.84
PT Lippo Securities             LPPS       (-2.23)      17.6
Siam Agro-Industry Pineapple
And Others PCL                  SAICO      (-14.84)      13.32
Siam Agro-Industry Pineapple
And Others PCL                  SAIC0/F    (-14.84)      13.32
Thai Wah Public
Company Limited-F               TWC        (-47.17)     166.46
Thai Wah Public
Company Limited-F               TWC/F      (-47.17)     166.46
Tuntex (Thailand) PCL           TUNTEX     (-50.94)     398.25
Tuntex (Thailand) PCL           TUNTEX/F   (-50.94)     398.25








                            *********


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

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

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