---

        T R O U B L E D   C O M P A N Y   R E P O R T E R

                     A S I A   P A C I F I C

             Monday, November 8, 2004, Vol. 7, No. 221

                            Headlines

A U S T R A L I A

ALANCLIFF PTY: To Wind Up Voluntarily
AMP LIMITED: Ceases to be Substantial Shareholder of Minotaur
ANTENNA MANAGEMENT: Court Appoints Liquidator
ATTIDA PTY: Creditors Given Until November 12 to Prove Claims
BLISS B.R: Robert Moodie Appointed as Liquidator

C&J DAVIES: To Hold Final Meeting on November 16
DOUBLE DIAMOND: Final Meeting Scheduled on November 11
GRIBBLES GROUP: Urges Investors to Accept Healthscope Bid
INTERNATIONAL TOOL: Final Meeting Slated for November 12
JAMES HARDIE: States Back New Laws

KALAGWE HOLDINGS: Creditors Must Prove Claims by November 12
MAYNE GROUP: Renegotiates AMFAC Sale Deal with Cosmos
MHB ENTERPRISES: Sets Members Meeting November 15
NORTON APARTMENTS: To Face Winding Up Proceedings
PONTEGRIN PTY: To Undergo Winding Up Process

RYSTAL PTY: To Hold Meeting on November 12
SANTOS LIMITED: To Drill at Churchie Gas Field
SNG INTEGRATED: Sets November 12 as Date of Final Meeting
SNG NETSEC: Final Meeting Slated for November 12
SONS OF GWALIA: Requests ASX to Rescind Document

ULINK-ME COM: To Undergo Voluntary Winding Up Proceedings


C H I N A  &  H O N G  K O N G

ASIAN AREA: Annual Meetings Set November 25
CROWNPRIX LIMITED: Creditors Meeting Slated for November 16
DEBBIE MORGAN: Creditors to Submit Claims by November 30
EASTMAN CHEMICAL: Creditors Must Prove Debts by November 29
ELEGANT BLOOM: Undergoes Winding Up Proceedings

FAR EAST: Faces Winding Up Process
SAINT POWER: Winding Up Hearing Set November 22


I N D O N E S I A

BANK DANAMON: Government Reaps IDR1.7 Trillion from Stake Sale
BANK PERMATA: Standchart Team Cleared to Buy Stake
BANK RAKYAT: Government to Reshuffle Management


J A P A N

DAIEI INCORPORATED: IRCJ Suspects Secret Deal with Colony Over
JAPAN AIRLINES: 2Q Profit May Double on Overseas Demand
MITSUBISHI FUSO: Bus-seat Repair Lags Behind Schedule
SOJITZ HOLDINGS: May Post JPY200 Bln Loss in First Half
SOJITZ HOLDINGS: Determines Conversion Price Floor/Cap

STARZEN COMPANY: Affirms BBB- on Senior Debts


K O R E A

SK CORPORATION: Unsatisfied with Sovereign's Respond
SSANGYONG MOTORS: SAIC's Financial Strength Questioned Over Loan


M A L A Y S I A

AVANGARDE RESOURCES: Unit Faces Winding Up Petition
CEPATWAWASAN GROUP: Unveils Production Figures For October
DAI HWA: To Submit Regularization Plan on December 22
FABER GROUP: Issues Additional Listing of Shares
GADANG HOLDINGS: Granted Listing of 513,000 New Ordinary Shares

I-BERHAD: Issues Notice of Shares Buy Back
MERCES HOLDINGS: Releases FY04 Unaudited Quarterly Report
MYCOM BERHAD: SC OKs Special Issue Extension
PROMTO BERHAD: Court Hearing Set November 8
SRI HARTAMAS: SC Issues Delisting Notice

WCT ENGINEERING: Notes Closed Period Dealings
WILLOWGLEN MSC: Appoints New Audit Committee Member


P H I L I P P I N E S

BANK OF CULASI: PDIC Services Claims to Depositors
COLLEGE ASSURANCE: Clients Complain of Delayed Payments
MANILA ELECTRIC: Clarifies "To Refinance US$235M Debt" Report
MANILA ELECTRIC: Set To Decide On Bilateral Power Deal
NATIONAL POWER: Japanese Firms Vow To Invest In Power Sector

NEGROS NAVIGATION: MetroPac Extends Tender Offer to November 18
PHILIPPINE LONG: Appoints Members of Nomination Committee
PILIPINO TELEPHONE: Unveils Director's Ownership of Shares


S I N G A P O R E

ACTELYCON PRIVATE: Posts Winding Up Notice
EDSAMAIL HOLDINGS: Enters Bankruptcy Proceedings
INFORMATICS HOLDINGS: Books Attributable Net Loss of SG$26.7Mln
MAINLAND FREIGHT: Faces Winding Up Proceedings
SINEXIMCO PRIVATE: Creditors Meeting Set November 10

STA ELEMENTS: Court Issues Winding Up Notice


T H A I L A N D

KRUNG THAI: Lists KTB14OA as New Securities
SIAM AGRO: Unveils Changes in Directorship
THAI GERMAN: SET Allows Trading of Securities
THAI PETROCHEMICAL: Court Dismisses Founder's Petition

     -  -  -  -  -  -  -  -

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


ALANCLIFF PTY: To Wind Up Voluntarily
-------------------------------------
At a General Meeting of Alancliff Pty Ltd (In Liquidation)
A.C.N. 001 202 839, duly convened and held at 286 Conadilly
Street Gunnedah on 24 September 2004, the following Special
Resolution passed:

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

Dated this 27th day of September 2004

Joanne Kelly
Paul & Brett Services Proprietary
286 Conadilly Street, Gunnedah NSW 2380


AMP LIMITED: Ceases to be Substantial Shareholder of Minotaur
-------------------------------------------------------------
Pursuant to Section 671 of the Corporations Law, AMP Limited
hereby advises that it is no longer a substantial holder in
Minotaur Resources Limited.

To view the ASIC From 605 disclosing all required details, click
on:
http://bankrupt.com/misc/TCRAP_AMPLIMITED110504.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/


ANTENNA MANAGEMENT: Court Appoints Liquidator
---------------------------------------------
On the 24th day of September 2004, the Supreme Court of New
South Wales, Equity Division, made an Order that Christopher J.
Palmer be appointed Official Liquidator of Antenna Management
Services Pty Limited (In Liquidation) A.C.N. 070 419 199.

Dated this 12th day of October 2004

Christopher J. Palmer
Official Liquidator
O'Brien Palmer
Level 4, 23-25 Hunter Street,
Sydney NSW 2000


ATTIDA PTY: Creditors Given Until November 12 to Prove Claims
-------------------------------------------------------------
A first and final dividend is to be declared on 26 November 2004
for Attida Pty Ltd (In Liquidation) A.C.N. 001 188 683.

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

Dated this 12th day of October 2004

Bryan Collis
Liquidator
O'Brien Palmer
Level 4, 23-25 Hunter Street,
Sydney NSW 2000
Telephone: 9232 3322,
Facsimile: 9232 3388


BLISS B.R: Robert Moodie Appointed as Liquidator
------------------------------------------------
Notice is hereby given that at a meeting of Bliss B.R Pty
Limited (In Liquidation) A.C.N. 084 666 517 held on 28 September
2004 the following Special Resolution was passed:

That as the Company is unable to pay its debts as and when they
fall due, the Company be wound up voluntarily and that Robert
Moodie be appointed Liquidator for the purpose of such winding
up.

Robert Moodie
Liquidator
c/- Rodgers Reidy
Level 8, 333 George Street,
Sydney NSW 2000


C&J DAVIES: To Hold Final Meeting on November 16
------------------------------------------------
Notice is given that a final meeting of members of C&J Davies
Pty Limited (In Voluntary Liquidation) A.C.N. 001 498 246 will
be held at Level 3, 63 Market Street, Wollongong NSW 2500, on 16
November 2004 at 10:00 a.m.

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

Dated this 29th day of September 2004

P.J. Fitzgerald
Liquidator
KPMG
Level 3, 63 Market Street,
Wollongong NSW 2500
Telephone: (02) 4229 2633


DOUBLE DIAMOND: Final Meeting Scheduled on November 11
------------------------------------------------------
Notice is given that the final meeting of the members and
creditors of Double Diamond Electronics Pty Ltd (In Liquidation)
A.C.N. 002 346 250 will be held at the offices of Jones Condon,
Chartered Accountants, Level 13, 189 Kent Street, Sydney 2000 on
11 November, 2004 at 10:30 a.m.

AGENDA

(1) To receive the Liquidators Accounts showing how the winding
up has been conducted and the property of the Company has been
disposed of.

(2) Any other business.

Dated this 24th day of September 2004

Thomas Javorsky
Liquidator


GRIBBLES GROUP: Urges Investors to Accept Healthscope Bid
---------------------------------------------------------
Gribbles Group directors have advised shareholders to accept a
takeover offer of 63 cents per share from hospital operator
Healthscope because a higher offer is unlikely, reports the
Sydney Morning Herald.

The embattled pathology Company is left with no choice but to
accept the Healthscope bid, which values Gribbles at AU$284.6
million.

In a statement sent to investors, Gribbles directors said the
Company had been seeking potential buyers for a couple of months
and had talks with a number of interested parties.

"Based on that process, the directors are confident that
potential acquirers of a substantial interest in Gribbles have
had full and adequate opportunity to put forward a proposal,"
the directors said.

They said they were unaware of any party intending to make a bid
higher than the Healthscope offer.

"Given the competitive sale process undertaken, the directors
consider that the prospect of an alternative superior offer is
low," they said.

Healthscope earlier raised its bid after Gribble's founder and
major shareholder Wallace Cameron, who owns a 43 percent stake
in the Company through EC Medical Investments Limited, vowed to
support an offer at 63 cents.

The Gribbles directors said the offer price was at a substantial
premium over the Gribbles share price over the past 12 months.

Healthscope's offer expires on 29 December.

As of June 30, Gribbles' debt stood at AU$142 million, which is
expected to rise about AU$158 million next month.

CONTACT:

The Gribbles Group Ltd
1868 Princes Highway
Clayton
Victoria 3168
Australia
Phone:  +61 3 9538 6777
Fax:  +61 3 9538 6778
E-mail: info@gribbles.com.au
Web site: http://www.gribbles.com.au/


INTERNATIONAL TOOL: Final Meeting Slated for November 12
--------------------------------------------------------
Notice is given pursuant to Section 509(2) of the Corporations
Act 2001 that a Final Meeting of Members and Creditors of
International Tool And Gauge Co Pty Limited (In Liquidation)
A.C.N. 000 215 538 will be held at Frasers Insolvency Advisory,
Level 9, 99 Elizabeth Street, Sydney NSW 2000 on Friday 12
November at 11:00 a.m.

AGENDA

(1) To consider the Liquidator's final account; and

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

Dated this 4th day of October 2004

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


JAMES HARDIE: States Back New Laws
----------------------------------
A proposed New South Wales legislation to force James Hardie
Industries to compensate asbestos victims obtained the unanimous
support of state governments, according to ABC News.

The decision came after a meeting of attorneys-general in New
Zealand.

The NSW government has been drafting new laws to entitle
asbestos victims to claim compensation from James Hardie's
parent Company. The laws will unwind the 2001 restructure
undertaken when James Hardie's parent Company relocated to the
Netherlands.

According to NSW Attorney-General Bob Debus, the legislation NSW
proposes has to be under Australia's corporate law scheme
approved by other jurisdictions.

The states also want the Corporations Act amended to stop all
companies adopting the strategy used by James Hardie to shift
liability.

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.


KALAGWE HOLDINGS: Creditors Must Prove Claims by November 12
------------------------------------------------------------
A first and final dividend is to be declared on 26 November 2004
for Kalagwe Holdings Pty Ltd (In Liquidation) A.C.N. 003 515
777.

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

Dated this 12th day of October 2004

Bryan Collis
Liquidator
O'Brien Palmer
Level 4, 23-25 Hunter Street,
Sydney NSW 2000
Telephone: 9232 3322,
Facsimile: 9232 3388


MAYNE GROUP: Renegotiates AMFAC Sale Deal with Cosmos
-----------------------------------------------------
Cosmos Limited, the leading Australian provider of electronic
transaction services and retail pharmacy data systems, announced
on the Australian Stock Exchange it had reached agreement with
Mayne Group member Faulding Healthcare Pty Ltd to revise payment
terms for its purchase of the AMFAC business and the associated
provision of services by Faulding Healthcare's subsidiary
healhlinks.net.

Cosmos fully-owned subsidiary Dynsol Pty Limited purchased AMFAC
from Faulding Healtcare in January 2003 and AMFAC has since
became a core part of the Cosmos Retail technology division, the
market leader in the pharmacy point of sale and dispensing
applications sector. Cosmos retail solutions are currently used
in approximately 60% of pharmacies across Australian.

The purchase of AMFAC was funded by a loan from Faulding
Healthcare, payable in installments over three years. Prior to
revising the funding agreement, the total amount owed by Cosmos
to Faulding Healthcare was AU$3.1 million, of which AU$2.3
million was current and the remaining UA$0.8 million payable
before January 2006.

Under the revised agreement, Cosmos will pay Faulding Healthcare
AU$1,803,707 in cash, AU$0.5 million immediately, AU$0.5 million
on November 30, 2004 AU$269,500 in January 2005 and a further
AU$534,207 in January 2006.

In addition, but subject to shareholder approval, Cosmos will
issue to Mayne approximately 46.3 million ordinary shares of
AU$0.029 per share free of any escrow restrictions.

CONTACT:

Mayne Group
Head Office Address:
Level 21/390 St Kilda Rd Melbourne 3004
Head Office Phone: +613 9868-0700
Web site: http://www.maynegroup.com/


MHB ENTERPRISES: Sets Members Meeting November 15
-------------------------------------------------
Notice is hereby given that a meeting of the Members of MHB
Enterprises Pty Limited (In Liquidation) A.C.N. 001 164 478 will
be held at Hall Chadwick Level 29, 31 Market Street, Sydney NSW
2000 on Monday 15 November 2004 at 9:00 a.m.

The meeting will be a Final Meeting in accordance with Section
509 of the Corporations Act 2001.

BUSINESS

(1) To receive a report from the Liquidator, being an account of
his acts and dealings and of the conduct of the winding up
during the period of the liquidation ending on 15 November 2004.

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

(3) Any other business.

Dated this 30th day of September 2004

Geoffrey Mcdonald
Liquidator
c/- Hall Chadwick
Level 29, 31 Market Street,
Sydney NSW 2000


NORTON APARTMENTS: To Face Winding Up Proceedings
-------------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of Norton Apartments Pty Limited (In Liquidation) A.C.N. 000 553
168 duly convened and held on 29 September, 2004 the following
resolutions were passed:

(1) That the Company be wound up voluntarily; and

(2) That Michael G. Jones be appointed Liquidator for the
purpose of such winding up.

Creditors of the Company are required to prove their debts or
claims within one month from the date of publication of this
notice.  Failing which, they will be excluded from any
distribution made and from objecting to any such distribution.
Formal Proof of Debt forms are available on application to the
Liquidator.

Dated this 30th day of September 2004

Michael G. Jones
Liquidator
Jones Condon
Chartered Accountants
Level 13, 189 Kent Street,
Sydney NSW 2000


PONTEGRIN PTY: To Undergo Winding Up Process
--------------------------------------------
Notice is hereby given that at an Extraordinary General Meeting
of Pontegrin Pty Limited (In Liquidation) A.C.N. 078 265 317,
held on the 23rd day of September, 2004 the following Special
Resolution was duly passed:

That as the Company in the opinion of the Directors will not be
able to pay its debts within twelve (12) months the Company be
wound up by a Creditors Voluntary Winding Up.

Mr. C.M. Chamberlain of Nicholls & Co., Chartered Accountants,
Suite 103, 1st Floor, Wollundry Chambers, Johnston Street, Wagga
Wagga, NSW was appointed Liquidator.

Dated this 27th day of September 2004

C.M. Chamberlain
Liquidator
Suite 103, 1st Floor, Wollundry Chambers,
Johnston Street, Wagga Wagga NSW 2650


RYSTAL PTY: To Hold Meeting on November 12
------------------------------------------
Notice is hereby given that a meeting of the Members and
Creditors of Rystal Pty Limited (In Liquidation) A.C.N. 083 179
953 will be held at Hall Chadwick Level 29, 31 Market Street,
Sydney NSW 2000 on 12 November 2004 at 11:00 a.m.

The meeting will be a Final Meeting in accordance with Section
509 of the Corporations Act 2001.

BUSINESS

(1) To receive a report from the Liquidator, being an account of
his acts and dealings and of the conduct of the winding up
during the period of the liquidation ending on 12 November 2004.

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

(3) Any other business.

Dated this 29th day of September 2004

Geoffrey Mcdonald
Liquidator
c/- Hall Chadwick
Level 29, 31 Market Street,
Sydney NSW 2000


SANTOS LIMITED: To Drill at Churchie Gas Field
----------------------------------------------
Santos Limited and Mosaic Oil N.L., the joint venture partners
in the Churchie Gas Field, have decided to drill one firm well
plus a possible additional well in order to capture additional
gas market opportunities.

The well, Churchie 6, should be spudded next week.

Interest in the Churchie Gas Field:
Mosaic Oil NL (Operator)    49%
Santos Group                51%

CONTACT:

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


SNG INTEGRATED: Sets November 12 as Date of Final Meeting
---------------------------------------------------------
Notice is given pursuant to Section 509(2) of the Corporations
Act 2001 that a Final Meeting of Members and Creditors of SNG
Integrated Services Pty Limited (In Liquidation) A.C.N. 094 883
351 will be held at Frasers Insolvency Advisory, Level 9, 99
Elizabeth Street, Sydney NSW 2000 on Friday 12 November at 10:00
a.m.

AGENDA

(1) To consider the Liquidator's final account; and

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

Dated this 4th day of October 2004

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


SNG NETSEC: Final Meeting Slated for November 12
------------------------------------------------
Notice is given pursuant to Section 509(2) of the Corporations
Act 2001 that a Final Meeting of Members and Creditors of SNG
Netsec Pty Limited (In Liquidation) A.C.N. 050 067 948 will be
held at Frasers Insolvency Advisory, Level 9, 99 Elizabeth
Street, Sydney NSW 2000 on Friday 12 November 2004 at 10:30 a.m.

AGENDA

(1) To consider the Liquidator's final account; and

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

Dated this 4th day of October 2004

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


SONS OF GWALIA: Requests ASX to Rescind Document
------------------------------------------------
Sons of Gwalia Limited requested the Australian Stock Exchange
to rescind the announcement sent to the ASX on Friday, October
29, 2004 via www.asxonline.com.

"We are forwarding this request due to the fact that, in
Annexure B, Section 3, we had incorrectly listed the 'Disposal'
of a total 6,474,597 shares of Sons of Gwalia due to an internal
write-off related to the Company's bankruptcy. However, these
6,474,597 shares continue to be held by funds and accounts
managed by affiliates of Franklin Resources Incorporated."

CONTACT:

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


ULINK-ME COM: To Undergo Voluntary Winding Up Proceedings
---------------------------------------------------------
Notice is hereby given that at a meeting of creditors of Ulink-
Me Com Pty Ltd (In Liquidation) A.C.N. 101 193 293 convened
pursuant to Section 439A of the Corporations Act 2001 held on 24
September 2004, it was resolved that the Company be wound up and
pursuant to Section 446A(4) of the Corporations Act 2001, Andrew
Hugh Jenner Wily of Armstrong Wily & Co, Chartered Accountants,
Level 5, 75 Castlereagh Street, Sydney NSW 2000 was appointed
Liquidator.

Dated this 29th day of September 2004

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


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


ASIAN AREA: Annual Meetings Set November 25
-------------------------------------------
Notice is hereby given that pursuant to Section 247 and 236 of
the Companies Ordinance, a meeting of the members of Asian Area
Reinsurance Company Limited will be held at 20th Floor, Prince's
Building, 10 Chater Road, Central, Hong Kong on 25th day of
November 2004 at 10:00 a.m.

It will be followed by a meeting of the creditors of the Company
to be held at the same place at 10:30 a.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 27 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 2nd Floor, Chung Nam
Building, 1 Lockhart Road, Wanchai, Hong Kong not later than
12:00 noon on the day before the meetings.

Dated this 4th day of November 2004

JAN G W BLAAUW
Joint and Several Liquidator


CROWNPRIX LIMITED: Creditors Meeting Slated for November 16
-----------------------------------------------------------
Notice is hereby given that, pursuant to Section 241 of the
Companies Ordinance, that a meeting of the creditors of
Crownprix Limited will be held at 3:30 p.m. on 16th day of
November 2004 at the offices of Ferrier Hodgson Limited, 14th
Floor, Hong Kong Club Building, 3A Charter Road, Central, Hong
Kong to appoint a Liquidator and to consider further matters
relevant to the creditors' voluntary winding-up of the above
named Company pursuant to Sections 241, 242, 243, 244 and 251 of
the Companies Ordinance.

Creditors may vote either in person or by proxy. Proxies used at
the meeting must be lodged at the office of Ferrier Hodgson
Limited, 14th Floor, Hong Kong Club Building, 3A Charter Road
Central, Hong Kong not later than 4:00 p.m. on the day before
the time appointed for the holding of the meeting.

Dated this 29th day of October 2004

Rod Sutton
Joint and Several Liquidator of
On Yuen Development Limited
In Creditors' Voluntary Liquidation


DEBBIE MORGAN: Creditors to Submit Claims by November 30
--------------------------------------------------------
Notice is hereby given that the Creditors of Debbie Morgan
Limited, which is being voluntarily liquidated, are required on
or before the 30th day of November 2004 to send their names,
addresses and descriptions, full particulars of their debts or
claims, as well as the names and addresses of their solicitors
(if any) to the sole liquidator of the said Company at Flat E,
10/F., Dragon Industrial Building, 93 King Lam Street, Lai Chi
Kok, Kowloon, Hong Kong.

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

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

Dated this 29th day of October 2004

Rajib Kumar Passi
Sole Liquidator


EASTMAN CHEMICAL: Creditors Must Prove Debts by November 29
-----------------------------------------------------------
Notice is hereby given that the Creditors of Eastman Chemical
Hong Kong Limited, which is being voluntarily liquidated, are
required on or before 4:30 p.m. on the 29th day of November 2004
to send their names, addresses and descriptions, full
particulars of their debts or claims, as well as the names and
addresses of their solicitors (if any) to the undersigned.

In order to establish any title they may have to priority under
Section 265 of the Company Ordinance.

In default thereof, such creditors will be excluded from the
benefit of any distribution made next after the 29th day of
November 2004 or as the case may be from objecting to such
distribution.

Dated this 29th day of October 2004.

Lai Kar Yan (Derek)
Darach E. Haughey
Joint and Several Liquidators
26th Floor, Wing On Centre
111 Connaught Road Central
Hong Kong


ELEGANT BLOOM: Undergoes Winding Up Proceedings
-----------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Elegant Bloom Company Limited by the High Court of Hong Kong
Special Administrative Region was on the 6th 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, 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.

Arthur K. H. Chan & Co.
Solicitors for the Petitioner
Unit C1, 15th Floor, United Centre
No. 95 Queensway
Hong Kong

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


FAR EAST: Faces Winding Up Process
----------------------------------
Notice is hereby given that the Creditors of Far East Circle
(Hong Kong) Limited, which is being voluntarily liquidated, are
required on or before the 30th day of November 2004 to send
their names, addresses and descriptions, full particulars of
their debts or claims, as well as the names and addresses of
their solicitors (if any) to the sole liquidator of the said
Company at Flat E, 10/F., Dragon Industrial Building, 93 King
Lam Street, Lai Chi Kok, Kowloon, Hong Kong.

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

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

Dated this 29th day of October 2004.

Rajib Kumar Passi
Sole Liquidator


SAINT POWER: Winding Up Hearing Set November 22
-----------------------------------------------
Notice is hereby given that, pursuant to Section Rule 45 of the
Companies (Winging-Up) Rules, that a hearing of Saint Power
Industrail Limited winding-up proceedings will be held at High
Court, High Court Building, 38 Queensway, Hong Kong before
Master S. Kwang on the 22nd of November 2004 at 9:30 a.m. for
the purpose of confirming, inter alia, the appointment of the
liquidators and the appointment of a Committee of Inspection for
the Company.

Dated this 3rd day of November 2004

Mr. Stephen Liu Yiu Keung
Mr. Yeo Boon Ann
Joint and Several Provisional Liquidators
17th Floor, Hutchison House
10 Harcourt Road, Central
Hong Kong


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


BANK DANAMON: Government Reaps IDR1.7 Trillion from Stake Sale
--------------------------------------------------------------
The sale of a 10-percent stake in PT Bank Danamon conducted
Thursday has generated IDR1.7 trillion (US$187 million) for the
state, according to The Jakarta Post.

The Asset Management Company (PPA), which arranged the
divestment, had sold 490.87 million Danamon shares at IDR3,550
per share, slightly below Wednesday's IDR3,575 closing price.

PPA Vice President Director, Raden Pardede, said about 34 local
and foreign companies bought the shares, which are 2.6 times
oversubscribed.

The sale, which was part of a fund-raising program to help
finance the state budget deficit, left the government with a
10.5-percent stake in Bank Danamon.

Meanwhile, the government had earlier announced its plan to
dispose of its minority stakes in PT Bank Central Asia, PT Bank
Internasional Indonesia, PT Ban Niaga and PT Bank Permata later
this year.

The government owns a 6.5-percent stake in Bank Central Asia,
20.71 percent in Bank Internasional, and 20.55 percent in Bank
Niaga. It now holds only 20 percent in Bank Permata after it
sold its 51-percent stake in the bank recently to U.K.-based
lender Standard Chartered PLC and consortium partner PT Astra
International.

PPA, which manages the state assets, would leave it to the
government whether it would pursue initial plans to divest more
shares in several banks this year.

CONTACT:

P.T. Bank Danamon Indonesia Terbuka
Jl Jend Sudirman Kav 45
Wisma Bank Danamon
Jakarta 12930
Indonesia
Phone: +62 1 577 0551
Fax: +62 1 577 0716
Web site: http://www.danamon.co.id/


BANK PERMATA: Standchart Team Cleared to Buy Stake
--------------------------------------------------
The Central Bank on Thursday gave a Standard Chartered-led
consortium formal clearance to acquire a 51-percent stake in PT
Bank Permata Tbk, Reuters reports.

The Standard Chartered-Astra International team, who won the bid
for Permata early last month, passed the "fit and proper test".
The said test, conducted by Bank Indonesia (the central bank),
was just a formality when bank stakes are sold to foreign
companies.

The deal, which will give Standchart a foothold in the country
after two failed attempts, is set for completion this month.

The IDR2.77 trillion (US$304 million) offered by the consortium
for the 51-percent stake was 10 percent higher than what the
state had expected.

Proceeds from the sale will be used to help narrow the country's
widening budget deficit.

Permata, which has US$3.2 billion in assets, was created from a
merger of five banks taken over by the government in the wake of
the late 1990s Asian economic crisis.

CONTACT:

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


BANK RAKYAT: Government to Reshuffle Management
-----------------------------------------------
The state is considering replacing the top management of state-
owned Bank Rakyat Indonesia (BRI) and Bank Tabungan Negara (BTN)
to help bolster the banks' performance, relates The Jakarta
Post.

A deputy at the Minister for State Enterprises Office, Suad
Husnan, confirmed the management changes at the two companies
would be implemented immediately.

"The tenure of the management of BRI and BTN will expire next
year, as they have served for four years. We need to rejuvenate
the banks by putting in new people," Mr. Suad said.

According to Mr. Suad, the reshuffle will be conducted at the
annual shareholders meeting on February or March next year
following completion of the banks' 2004 audited financial
reports.

Presently, BRI is headed by President Director Rudjito, who has
been successful in launching the bank's initial public offering
(IPO) last year. But his success has been dimmed by several
financial fiascos and fraud conducted by bank officials.

Incumbent BTN President Director Kodradi, on the other hand, has
been struggling to improve BTN's efficiency.

Meanwhile, Mr. Suad said there were no plans for a management
reshuffle in other state banks such as Bank Negara Indonesia and
Bank Mandiri, as the management of the two banks had been
appointed just recently.

CONTACT:

Bank Rakyat Indonesia
Jl. Jend Sudirman No. 44-46
P.O. Box 1094
Jakarta, Indonesia
Phone: (62) 21-575-1015
Fax: (62) 21-250-0071
Web site: www.bri.co.id


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


DAIEI INCORPORATED: IRCJ Suspects Secret Deal with Colony Over
--------------------------------------------------------------
The state-backed Industrial Revitalization Corporation of Japan
(IRCJ) suspects that Daiei Incorporated may have a secret deal
with a U.S. investment fund over the sale of the Daiei Hawks
baseball club, says Kyodo News.

The IRCJ has started an investigation into an alleged secret
agreement between the rehabilitating retailer and Colony Capital
LLC, which owns the Fukuoka Dome and the rights to hold the
Hawks' games.

Sources speculate Daiei and Colony have already agreed on the
price of the ball club and terms of the sale.

Daiei had initially insisted to run the Fukuoka-based Hawks on
its own but has recently decided to sell its majority
shareholding to Softbank Corporation, which had earlier
expressed a desire to acquire the baseball team. The proposed
sale would have lowered Daiei's 98 percent stake to 20 percent.

However, the IRCJ is concerned Daiei may not benefit from the
Hawks ownership unless it retains a stake of more than 50
percent in the ball club.

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: 2Q Profit May Double on Overseas Demand
-------------------------------------------------------
Japan Airlines Corporation (JAL) may book a more-than-doubled
second-quarter profit on growing overseas demand, according to
Bloomberg.

JAL is likely to see its profits skyrocket as waning concerns
about SARS bolstered international travel. The airline, however,
may not reach its full-year profit target because of soaring oil
costs.

Bloomberg analysts said JAL's net income probably climbed to
JPY47.3 billion (US$444 million) in the three months ended
September 30 from JPY19.7 billion, previously. Sales probably
rose to 7.7 percent to JPY587.6 billion.

Investors believe JAL has rebounded from last year's record loss
resulting from the SARS scare, with a 46-percent rise in its
international traffic in the first half. But the carrier's 2004
profits may be eroded by the 71-percent oil price hike this
year.

The analysts forecast JAL's second-quarter profit at between
JPY43.2 billion and JPY58 billion.

JAL, Asia's largest airline, is currently undertaking measures
to cover rising costs by cutting expenses, reducing flight
frequencies and hiking fares.

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


MITSUBISHI FUSO: Bus-seat Repair Lags Behind Schedule
-----------------------------------------------------
Scandal-hit Mitsubishi Fuso Truck and Bus Corporation is lagging
behind schedule in fixing faulty seats on its recalled buses,
Kyodo News says.

In September, the truck maker pledged to repair about 70 percent
of the 52,000 buses by October. But due to difficulties in using
standard seats as replacements on custom-made buses, the Company
has repaired only 43.2 percent of the total.

Mitsubishi Fuso officials assured the Company will deploy
additional personnel to complete the repairs by the end of this
year.

They also admitted the Company has not been able to conduct due
checkups on some 5,800 out of 69,000 buses for possible repairs
of defective clutch housings.

CONTACT:

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


SOJITZ HOLDINGS: May Post JPY200 Bln Loss in First Half
-------------------------------------------------------
Sojitz Holdings Corporation is likely to post a group net loss
of over JPY200 billion (US$1.89 billion) for the first half of
the current fiscal year, Reuters reveals, citing the Nihon
Keizai newspaper.

The cash-strapped trading house will probably tally the first-
semester loss after booking an extraordinary of JPY240 billion.

Sojitz, UFJ Holdings' biggest troubled borrower, would write
down the value of subsidiaries' shares in the six months to
September 30 in line with efforts to withdraw from unprofitable
ventures.

On September 8, Sojitz said it would take a JPY400 billion
restructuring charge in the current fiscal year to cover the
disposal of real assets, the withdrawal from money-losing
businesses and adoption of asset impairment accounting policy.

To date, Sojitz is negotiating a US$3.4 billion bailout from UFJ
and Swiss bank UBS AG, among others.

The Company has announced it would tally a consolidated net loss
of JPY380 billion for the year against a previous forecast of
JPY50 billion in net profit.

CONTACT:

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


SOJITZ HOLDINGS: Determines Conversion Price Floor/Cap
------------------------------------------------------
Sojitz Holdings Corporation (Sojitz Holdings) hereby notifies
that the conversion price floor/cap of 1st Series Unsecured
Convertible Bonds Due October 2006 (guaranteed by Sojitz
Corporation) has been determined as follows. And Sojitz Holdings
has also notifies the revision of the conversion price of the
convertible bonds in accordance with the provisions as specified
in the terms and conditions.

I. Determination of the conversion price floor/cap in the terms
and condition of
Convertible Bonds

In the terms and conditions of 1st Series Unsecured Convertible
Bonds Due October 2006 (guaranteed by Sojitz Corporation), the
conversion price floor has been determined as JPY232.7 and the
conversion price cap has been determined as JPY931.0.

- The conversion price floor has been determined as 5-day
average of VWAP ended on and including November 4, 2004 x 50%
(rounded to one decimal place)

- The conversion price cap has been determined as 5-day average
of VWAP ended on and including November 4, 2004 x 200% (rounded
to one decimal place)

II. Revision of conversion price

(1) Revision of conversion price
Current conversion price: JPY454.0
Revised conversion price: JPY432.9

(2) Effective date: As from November 5, 2004

(3) Reasons for revision
The revision is made in accordance with the provisions as
specified in the terms and conditions.


STARZEN COMPANY: Affirms BBB- on Senior Debts
---------------------------------------------
The Japan Credit Rating Agency Limited (JCR) has affirmed the
BBB- rating on senior debts of Starzen Co., Ltd.

Rationale:

Starzen is a major meat wholesaler. Its earnings are expected to
increase for fiscal 2004 year-on-year. The increase will be the
third time in a row. Increase in utilization of plants through
increase in revenue from domestic beef and pork and improvement
in revenue and earnings due to recovery of market for domestic
pork will boost the performance.

Its financial burden with respect to the equity-method investee
Company Lohmeyer is increasing. With the earnings of the
investee Company increasing, Starzen's burden is beginning to
drop. However, the operation has yet to be in the black. Drastic
measures need to be taken for Lohmeyer.

CONTACT:

Starzen Company Limited
5-7 Konan 2-Chome
Minato-Ku 108-0075, Tokyo 108-0075
Japan
Phone: +81 3 3471 5521
Fax: +81 3 3471 5946
Web site: http://www.starzen.co.jp/


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


SK CORPORATION: Unsatisfied with Sovereign's Respond
----------------------------------------------------
SK Corporation was discontented on the response of the
questionnaires it sent to Sovereign Asset Management Limited in
order for the latter to explain why it wanted an extraordinary
shareholders meeting, reports The Korea Herald.

"They didn't answer to any of the questions sent by outside
directors," said a SK Corp. official.

Sovereign urged the outside directors of SK Corp. to accept its
call for an extraordinary general shareholders meeting that is
aimed at ousting Chairman Chey Tae-won.

"It is clear to us that this is an occasion where the outside
directors can assert their independence and demonstrate their
responsibility to fulfill their fiduciary duty and act in the
interests of all shareholders by supporting our request for an
EGM," said James Fitter, Sovereign chief executive officer, in
response to a questionnaire sent Tuesday from SK Corp.'s seven
outside directors.

Sovereign reaffirmed its intention to seek an amendment to SK's
Articles of Incorporation, which would suspend any person
charged with or convicted of a serious criminal offense from
acting as a director.

The proposed amendment is common sense and such a bar on
convicted directors already has precedence in the SK Telecom, a
sister Company of SK Group, the statement said.

Sovereign also reaffirmed that the Company has failed to address
a series of fundamental issues holding back the Company's
performance including the corporate governance and its
leadership issue.

Outside directors of SK Corp. were scheduled to hold a meeting
Friday, to decide whether to accept Sovereign's demand.

Sovereign is SK's single largest shareholder with a 14.9 percent
stake.

CONTACT:

SK Corporation (Exchange: Korea)
99 Seorin-Dong, Jongru-Gu
Seoul, 110-110, South Korea
Phone: +82-2-2121-5114
Fax: +82-2-2121-7001
Web site: http://www.skcorp.com


SSANGYONG MOTORS: SAIC's Financial Strength Questioned Over Loan
----------------------------------------------------------------
The financial strength of Shanghai Automotive Industry Corp.
(SAIC) was questioned when it made bank loans to fund part of
the 48.9 percent stake it purchased in Ssangyong Motor Co. last
month, reports The Korea Herald.

SAIC borrowed about 66 percent of the KRW590.9 billion paid for
the stake in Ssangyong.  The lenders were three Chinese banks
and the purchase is scheduled to be completed in December.

Industry watchers said the hefty loans are enough to question
Shanghai Automotive's willingness and ability to further invest
in Ssangyong.

"If Shanghai's business falters, it can be tempted to drop the
promised investment plan in the carmaker." said Kim Hag-ju, an
auto analyst of Samsung Securities.

But other analysts said the loan maybe SAIC's own finance
method.  The amount of the loans may not lead to a serious
problem since SAIC is China's largest carmaker.

According to Lee Young-ho spokesman for Ssangyong workers union,
it was still too early to comment on the issue.  They will keep
watch how SAIC will keep its promise.

Shanghai Automotive has told Ssangyong workers that it will make
steady investments to expand the Korean auto manufacturer's
sales at home and abroad. The assurance was part of a special
agreement, with Ssangyong's Korean management signing as
proxies.

CONTACT:

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


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


AVANGARDE RESOURCES: Unit Faces Winding Up Petition
---------------------------------------------------
Avangarde Resources Berhad announced that on 4 November 2004,
the Company's subsidiary received a winding-up Petition No. D6-
28-765-2004 to the Kuala Lumpur High Court from Mikyotech Sdn
Bhd for a claim of RM56,381.98.

The said Petition is fixed for hearing on 5 January 2005 and was
handed to the Company's Solicitor, M/S C.L. Chin & Associates
for further action.

The Solicitor advised that there are bona fide disputes to the
alleged claim and the same is in the process to apply on behalf
of the Company to defend the Petition.

CONTACT:

Avangarde Resources Berhad
No. 16-2 & 16-3
Jalan USJ 21/6
47630 UEP Subang Jaya
Selangor
Tel: 03-80249970
Fax: 03-80249831


CEPATWAWASAN GROUP: Unveils Production Figures For October
----------------------------------------------------------
The Board of Directors of Cepatwawasan Group Berhad announced
that the production figures of the Group for October 2004 are as
follows:

FFB - 11,758.80 MT
Crude Palm Oil - 7,486.629 MT
Palm Kernel - 1,716.100 MT

CONTACT:

Cepatwawasan Group Berhad
Lot 39-40, Block C
Taman Indah Jaya Shophouses
Mile 4, North Road
P O Box 1562
90717 Sandakan
Sabah
Tel: 089-271775/ 089-221569
Fax: 089-220881


DAI HWA: To Submit Regularization Plan on December 22
-----------------------------------------------------
Dai Hwa Holdings (M) Berhad announced that the Bursa Malaysia
Securities Berhad (Bursa Exchange) has approved an extension of
2 months from 22 October 2004 to 22 December 2004 to enable the
Company to submit its regularization plan to the relevant
authorities for approval pursuant to Paragraph 6.1 of the
Practice Note No. 10/2001 (PN10) of the Bursa Exchange.

CONTACT:

Dai Hwa Holdings (M) Berhad
Suite 14A2,
Level 14,
Menara Ansar,
65 Jalan Trus,
80000 Johor Bahru,
Johor
Tel: 07-2241035
Fax: 07-2210891
Web site: http://www.dahw.com.my

This announcement is made on 4 November 2004.


FABER GROUP: Issues Additional Listing of Shares
------------------------------------------------
Faber Group Berhad's additional 378,500 new ordinary shares of
RM1.00 each issued pursuant to the conversion of RM757,000
nominal value of 2000/2005 irredeemable convertible unsecured
loan stocks into 378,500 new ordinary shares will be granted
listing and quotation with effect from 9 a.m., Monday, 8
November 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


GADANG HOLDINGS: Granted Listing of 513,000 New Ordinary Shares
---------------------------------------------------------------
Gadang Holdings Berhad's additional 513,000 new ordinary shares
of RM1.00 each issued pursuant to the conversion of RM648,000
nominal value of 2% 2003/2008 irredeemable convertible unsecured
loan stocks into 513,000 new ordinary shares will be granted
listing and quotation with effect from 9 a.m., Monday, 8
November 2004.

CONTACT:

Gadang Holdings Berhad
52, Jalan Tago 2
Jalan Persiaran Utama
Sri Damansara
52200 Kuala Lumpur, WP
Malaysia
Tel no: 603-6356888
Fax no: 603-6365560


I-BERHAD: Issues Notice of Shares Buy Back
------------------------------------------
I-Berhad announced the details of its shares buy back on
November 4, 2004.

Date of buy back: 03/11/2004

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

Total number of shares purchased (units): 10,000

Minimum price paid for each share purchased (RM): 0.840

Maximum price paid for each share purchased (RM): 0.840

Total consideration paid (RM): 8,462.76

Number of shares purchased retained in treasury (units): 10,000

Number of shares purchased which are proposed to be cancelled
(units): 0

Cumulative net outstanding treasury shares as at to-date
(units): 249,200

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

Remarks:

The Company received the trade confirmation by facsimile from
its stockbroker only this morning.

CONTACT:

I-Berhad
3, Jalan Astaka U8/84
Section U8
Bukit Jelutong
40150 Shah Alam
Selangor
Tel: 03-7845 4511
Fax: 03-7845 4514
Web site: http://www.i-digital.com


MERCES HOLDINGS: Releases FY04 Unaudited Quarterly Report
---------------------------------------------------------
In a disclosure to Bursa Malaysia Securities Berhad, Merces
Holdings Berhad announced its unaudited quarterly report for the
financial period ended September 30, 2004.

                 SUMMARY OF KEY FINANCIAL INFORMATION
                            30/09/2004

                 INDIVIDUAL PERIOD        CUMULATIVE PERIOD
        CURRENT YEAR  PRECEDING YEAR CURRENT YEAR PRECEDING YEAR
          QUARTER    CORRESPONDING    TO DATE     CORRESPONDING
                       QUARTER                    PERIOD

           30/09/2004     30/09/2003  30/09/2004   30/09/2003
             RM'000          RM'000       RM'000      RM'000

1  Revenue
              5,680           4,407       9,667        15,420

2  Profit/(loss) before tax
              1,147          -1,094       -1,246        -5,073

3  Profit/(loss) after tax and minority interest
              1,147          -1,019        -931         -4,698

4  Net profit/(loss) for the period
              1,147          -1,019        -931         -4,698

5  Basic earnings/(loss) per shares (sen)
              2.25           -2.00         -1.83         -9.21

6  Dividend per share (sen)
              0.00           0.00          0.00           0.00


                    AS AT END OF    AS AT PRECEDING
                    CURRENT QUARTER   FINANCIAL YEAR END

7  Net tangible assets per share (RM)

                        0.6500           0.6700

For more information, go to
http://bankrupt.com/misc/tcrap_merces110504.doc


MYCOM BERHAD: SC OKs Special Issue Extension
--------------------------------------------
Southern Investment Bank Berhad refers to the proposed special
issue of 129,268,208 new ordinary shares of RM1.00 each (Shares)
in Mycom Berhad with 129,268,208 free detachable Mycom warrants
at an issue price of RM1.00 per Share (Special Issue), which
forms part of the Proposed Restructuring Scheme.

DEFERMENT OF SPECIAL ISSUE

Southern Investment Bank Berhad (SIBB) has submitted an
application on behalf of Mycom to seek the approval of the
Securities Commission (SC) to:

(i) Issue 75,000,000 Mycom Shares together with 75,000,000 free
detachable warrants at an issue price of RM1.00 per Mycom Share
to Bumiputera investors approved by the Ministry of
International Trade and Industry (MITI) upon completion of the
Proposed Restructuring Scheme; and

(ii) Issue the balance of 54,268,208 Mycom Shares together with
54,268,208 free detachable warrants at an issue price of RM1.00
per Mycom Share to Bumiputera investors approved by the MITI
within a period of eighteen (18) months from the completion of
the Proposed Restructuring Scheme.

On behalf of the Board of Directors of Mycom, SIBB wishes to
announce that the SC has via its letter dated 3 November 2004,
which was received on 4 November 2004, approved the following:

(i) Extension of time for eighteen (18) months up to 30 June
2006 to complete the Special Issue; and

(ii) Waiver from the approval condition where Mycom is required
to obtain its shareholders' approval for any variation of 25% or
more over the original utilization of proceeds from the rights
issue and the Special Issue resulting from the deferred
implementation of the Special Issue.

SIBB would like to highlight that the total proceeds raised from
the rights issue and the Special Issue will remain unchanged at
RM168,536,415 whilst the final utilization of the proceeds for
each category of usage will also remain unchanged. Accordingly
the utilization of proceeds from the rights issue and the
Special Issue has to be re-scheduled to suit the timing needs.

The SC's approval is subject to the following:

(i) Mycom's equity structure will be reassessed three (3) years
from the completion of the Proposed Restructuring Scheme (i.e.
31 December 2007); and

(ii) Mycom is required to inform the SC on the completion of the
Proposed Restructuring Scheme.

Accordingly, the previous condition imposed by the Foreign
Investment Committee where Mycom is required to increase its
Bumiputera equity to 30% upon conversion of its private debt
securities and exercise of its warrants, is no longer
applicable.

CONTACT:

Mycom Berhad
No 8 Jalan Raja Chulan
Kuala Lumpur, 50200
Malaysia
+60 3 2072 3993
+60 3 2072 3996

This announcement is dated 4 November 2004.


PROMTO BERHAD: Court Hearing Set November 8
-------------------------------------------
The Board of Directors of Promto Berhad announced that the
restraining order (RO) for a period of 90 days granted by the
Kuala Lumpur High Court pursuant to Section 176 (10) of the
Companies Act, 1965 to the Company and its following subsidiary
companies has lapsed on 4 November 2004:

Collectively to be referred as "Effected Subsidiaries"

Promto Properties Sdn Bhd
Syarikat Lee Engineering (Kota Bahru) Sendirian Berhad
Promto-Sikojaya Sdn Bhd
Chee Keong (Malaysia) Sdn Bhd
Ipoh Pipe Industries Sdn Bhd
Milnes Technology Sdn Bhd
Jasa Timor Sendirian Berhad
Fuller Cms Sdn Bhd
Louvre Products Industries Sdn Bhd
Goodlite Trading Sdn Bhd

The Company has on 4 November 2004, filed an application for
extension of the RO for Promto Berhad and the hearing has been
fixed on 8 November 2004.

CONTACT:

Promto Berhad
Lot 13A-2, Level 13A
Menara Milenium
Jalan Damanlela
Damansara Heights
50490 Kuala Lumpur
Tel: 03-271 02332
Fax: 03-271 02662
Web site: http://www.promto.com

This announcement is dated 4 November 2004.


SRI HARTAMAS: SC Issues Delisting Notice
----------------------------------------
The Special Administrators of Sri Hartamas Berhad have received
a notice from Bursa Malaysia Securities Berhad (Bursa
Securities) dated 3 November 2004 to show cause on the de-
listing of the securities of SHB (Show Cause Notice).

The Show Cause Notice requires the Company to make written
representations to Bursa Securities, within fourteen (14) days
commencing from the date of receipt of the Show Cause Notice as
to why the securities of the Company should not be de-listed
from the Official List of Bursa Securities.

Pursuant to the Show Cause Notice, the Company wishes to
announce:

a) That the Company has been accorded 14 days by Bursa
Securities to make written representations to Bursa Securities
on why its securities should not be removed from the Official
List of Bursa Securities;

b) That in the event Bursa Securities decides to de-list the
Company, the securities of the Company shall be removed from the
Official List of Bursa Securities upon the expiry of 14 days
from the date of notification of the decision to de-list the
Company or upon such other date as may be specified by Bursa
Securities; and

c) That in the event Bursa Securities decides not to de-list the
Company, other appropriate action/penalty(ies) may be imposed
pursuant to paragraph 16.17 of the Bursa Securities Listing
Requirements.

This announcement shall also serve as the Company's monthly
announcement in compliance with Practice Note No. 4/2001
pursuant to the Listing Requirements.

CONTACT:

Sri Hartamas Berhad
8 Jalan Yap Kwan Seng
Kuala Lumpur, KUALA LUMPUR 50450
MALAYSIA
+60 3 2167 0600
+60 3 2162 0212

This announcement is dated 4 November 2004.


WCT ENGINEERING: Notes Closed Period Dealings
---------------------------------------------
WCT Engineering Berhad (WCT) is now in the closed period for
dealing in its securities pending the announcement of its
results for the Third Quarter ended 30 September 2004. The
Company wishes to inform the Bursa Malaysia Securities Berhad
(BMSB) that it has on 4 November 2004 received notification from
a Director on his intention to deal in the securities of WCT
during this closed period. The details of his current interests
in the securities of the Company are set out in the table below:


Director Direct   Indirect Direct    Indirect
        Interest  Interest Interest  Interest
        No. Of     No. Of  No. Of     No. Of
        Shares     Shares  Warrants   Warrants
        (%)          (%)    (%)        (%)

Mr. Taing Kim Hwa (Managing Director)

         2,472,080 30,960,960 1,839,000 16,481,000
        (2.04)     (25.54)     (5.78)   (51.78)

CONTACT:

WCT Engineering Berhad
12, Jalan Majistret U1/26
Seksyen U1, Lot 44, Hicom-Glenmarie Industrial Park
40150 Shah Alam, Selangor Darul Ehsan, Malaysia
Telephone: 603-7805 2266
Fax: 603-7804 9877
E-mail: wctbhd@wcte.com.my

This announcement is dated 4 November 2004.


WILLOWGLEN MSC: Appoints New Audit Committee Member
---------------------------------------------------
Willowglen Msc Berhad announced the appointment of Mr. Wong Ah
Chiew as a new member of its Audit Committee on November 4,
2004.

Date of change: 03/11/2004
Type of change: Appointment
Designation: Member of Audit Committee
Directorate: Non Independent & Non Executive
Name: Wong Ah Chiew
Age: 56
Nationality: Malaysian
Qualifications: Bachelor of Science degree in Electrical
Engineering from the University of Strathclyde, Scotland

Working experience and occupation:

1) Assistant District Engineer with Perak River Hydro Electric
Power Co Ltd from 1973 to 1982

2) Director of Dindings Consolidated Sdn Bhd since 1982

3) Managing Director of PJ Development Holdings Berhad
Directorship of public companies (if any): PJ Development
Holdings Berhad

Family relationship with any director and/or major shareholder
of the listed issuer: Wong Ah Chiew is the brother-in-law of
Khor Chai Moi

Details of any interest in the securities of the listed issuer
or its subsidiaries:

1) 1,500,000 (Direct)

2) 124,900,237 (Indirect)

Composition of Audit Committee (Name and Directorate of members
after change):

1) Alfian Bin Tan Sri Mohamed Basir (Independent Non-Executive)

2) Wang Shi Tsang (Chairman and Independent Non-Executive)

3) Wong Ah Chiew (Non-Executive)

Remarks: Willowglen MSC Berhad has complied with Paragraph
13.8.1 of the Listing Requirements of Bursa Malaysia Securities
Berhad for the MESDAQ Market.


CONTACT:

Willowglen MSC Berhad
17th Floor, Plaza OSK Jalan Ampang,
50450 Kuala Lumpur
Tel: 03-2161 7722
Fax: 03-2161 7782
E-mail: corpinfo@willowglen.com.my
Web site: www.willowglen.com.my


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


BANK OF CULASI: PDIC Services Claims to Depositors
--------------------------------------------------
The Philippine Deposit Insurance Corporation (PDIC) started its
operations for the servicing of claims for insured deposits in
the closed Rural Bank of Culasi (Antique), Inc. (RBCI) on
Wednesday, October 27, 2004.

Depositors are requested to proceed directly to the premises of
the closed RBCI, the designated payoff site. PDIC
representatives are stationed at the premises of the closed bank
from October 27 to November 11, 2004 to accept claims and
entertain queries of depositors during office hours Monday to
Friday.

After the said date, all depositors can file their claims
personally at the PDIC Claims Counter, 6th Floor, SSS Bldg.,
Ayala Avenue corner V.A. Rufino St., Makati City from Monday to
Friday, 8 A.M. to 5 P.M., or by mail to:

The Officer-In-Charge, Claims Processing Department
Philippine Deposit Insurance Corporation
2228 Chino Roces Avenue
1231 Makati City

Depositors are advised to present the following requirements to
the PDIC representatives when filing their claims:

      a. Original evidence of deposit such as Savings Passbook
and/or Certificate of Time Deposit.

      b. Two (2) latest identification cards/documents (IDs)
with depositor's signature.

Other documents maybe required by the PDIC representatives in
the course of their processing of claims filed.

Pursuant to the provision of R.A. 3591, as amended by R.A. 9302,
the presecriptive date (last day) for filing claims for insured
deposits in the closed Rural Bank of Culasi (Antique), Inc. is
on October 21, 2006.  After October 21, 2006, PDIC as insurer,
shall no longer accept any claim for insured deposits maintained
with the said closed bank.

CONTACT:

Philippine Deposit Insurance Corporation
PDIC Bldg., 2228 Chino Roces Avenue
1231 Makati City, Philippines
Phone: (632) 841-4000
E-mail: info@pdic.gov.ph


COLLEGE ASSURANCE: Clients Complain of Delayed Payments
-------------------------------------------------------
The Securities and Exchange Commission (SEC) has received formal
complaints from three plan holders of pre-need Company College
Assurance Plans Philippines Inc. (CAP) on delayed payments of
accounts that have been terminated, Yehey Finance reports.

Instead of them getting their money immediately, they were asked
to wait for a few months. The plan holders terminated their
accounts with CAP "out of fear."

Schools have reportedly been starting to refuse checks issued by
the Company. "They are scared," the source said.

CAP, one of the biggest pre-need companies in the Philippines,
is under regulatory leeway. It reported a PhP17-billion
deficiency in its trust assets as of end-2003. During the
period, CAP had PhP8.4 billion in trust assets, compared with an
actuarial reserve liability, or projected future obligations, of
PhP25.5 billion.

CONTACT:

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


MANILA ELECTRIC: Clarifies "To Refinance US$235M Debt" Report
-------------------------------------------------------------
This is in reference to the news article entitled "Meralco
poised to refinance US$235M debt" published in the November 4,
2004 issue of the Manila Standard.

The article reported, "Manila Electric Co. (Meralco), the
country's largest power distributor, has reached an informal
agreement with lenders on the refinancing of around US$235
million in US dollar and peso-denominated bank loans due 2005
and 2006."

Manila Electric Company (MER), in its letter to the Philippine
Stock Exchange dated November 4, 2004, confirmed that:

"...it has reached an informal agreement with its lenders on the
refinancing of the US$235 million debt. Rest assured we would be
making the necessary disclosures once a formal agreement has
been reached."

For your information,
MARIA ISABEL T. GARCIA
OIC, Operations Group

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


MANILA ELECTRIC: Set To Decide On Bilateral Power Deal
------------------------------------------------------
Manila Electric Co. (Meralco) will decide within a few weeks
whether to enter into a bilateral agreement with the government
to extend its transition supply contract, the Business World
reports, citing Meralco President Jesus P. Francisco.

The Power Sector Assets and Liabilities Management Corp. (PSALM)
have requested Meralco to consider entering into long-term
bilateral contracts after their transition supply contract
expires in 2007.

The transition supply contract is a provisional power supply
deal that state-owned National Power Corp. (Napocor) would enter
into with distribution utilities to ensure prospective buyers of
some of its generation assets that they will have off-takers or
buyers of power when they acquire the plants.


NATIONAL POWER: Japanese Firms Vow To Invest In Power Sector
------------------------------------------------------------
Several Japanese power firms have committed to invest in the
country's power sector, including the National Power
Corporation, the Philippine Star reports, citing the Philippine
Energy Secretary Vincent S. Perez.

Mr. Perez said Nippon Keidanren/Toyota Motors Corp., Toshiba
Corp., Mitsubishi Heavy Industries Ltd, Sumitomo Chemical Co.
Ltd., Marubeni Corp. have expressed keen interest in exploring
various business opportunities in the power sector, particularly
in the privatization of the National Power Corporation (Napocor)
assets.

The companies are also looking at the possibility of bidding for
the privatization of the 600-MW Masinloc coal-fired power plant
in Zambales, Mr. Perez said.

The Japan Ministry of Economy, Trade and Industry have chosen
the Philippines as one of the three investment sites in the
region.  The other two are Vietnam and China.

CONTACT:

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


NEGROS NAVIGATION: MetroPac Extends Tender Offer to November 18
---------------------------------------------------------------
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) submitted by Metro Pacific Corporation (MPC) to the
Philippine Stock Exchange in connection with its offer to
acquire 84,934,375 common shares of Negros Navigation Company,
Inc. (NN) at the tender offer price of P0.16 per share.

In relation thereto, the Corporation, using SEC Form 17-C dated
November 4, 2004, informed the Philippine Stock Exchange that:

"In the event that the 15th of November has been declared a
public holiday in respect of the conclusion of Ramadan, Metro
Pacific Corporation is extending the tender offer period to the
18th of November 2004."

For your information,
JURISITA M. QUINTOS
Senior Vice President

CONTACT:

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 Company. Inc.
Pier 2. North Harbor. Tondo. Manila, Philippines 1012
Telephone Number: (6321 245.5588
Fax Number: (6321 245-1091
Web site: www.negrosnavigation.ph


PHILIPPINE LONG: Appoints Members of Nomination Committee
---------------------------------------------------------
In compliance with the disclosure requirements of the Securities
and Exchange Commission, the Philippine Long Distance and
Telephone Co. (PLDT) announced that at the meeting of the Board
of Directors of Philippine Long Distance Telephone Company held
on November 4, 2004, the following were appointed as Chairman
and members of the Governance and Nomination Committee of the
Board of Directors of the Company.

Mr. Manuel V. Pangilinan (Chairman)
Rev. Fr. Binevenido F. Nebres (Member)
Mr. Juan B. Santos (Member)
Ms. Teresita T. Sy (Member)
Mr. Shigeru Yoshida (Member)
Mr. Rene G. Banez (Non-voting Member)
Mr. Victorico P. Vargas (Non-voting Member)

A majority of the members of the Governance and Nomination
Committee namely, Rev. Fr. Bienvenido F. Nebres, Mr. Juan N.
Santos and Ms. Teresita T. Sy are independent directors of the
Company.

Pursuant to the requirements of the Securities Regulation Code,
the Company has duly caused this Report to be signed on its
behalf by the undersigned hereunto duly authorized.

Philippine Long Distance Telephone Company
Ma. Lourdes C. Rausa-Chan
Corporate Secretary

CONTACT:

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


PILIPINO TELEPHONE: Unveils Director's Ownership of Shares
----------------------------------------------------------
In compliance with Section 13.1 of the Revised Disclosure Rules,
Pilipino Telephone Corporation (Piltel) hereby discloses that:

Mr. Manuel V. Pangilinan, who was elected as director and
Chairman of the Board of Piltel on November 3, 2004,
beneficially owns 2,500,000 shares of common stock of Piltel;
and Anabelle L. Chua, who was elected as director of Piltel on
November 3, 2004, owns on record one share of common stock of
Piltel.

Thank you,
Very truly yours,
DEBORAH ANNE N. TAN
Corporate Information Officer

CONTACT:

Pilipino Telephone Corporation
G/F Mobiline Centre
6764 Ayala Avenue
1200 Makati City
Philippines
Telephone: 63 2 811 8888
Fax: 63 2 817 6888


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


ACTELYCON PRIVATE: Posts Winding Up Notice
------------------------------------------
Notice is hereby given that a Petition for a Winding Up of
Actelycon Private Ltd. by the High Court was on the 26th day of
October 2004 presented by Rajah & Tann, a law firm established
in Singapore and having its place of business at 4 Battery Road,
#15-01 Bank of China Building, Singapore 049908.

The Petition will be heard before the Court sitting at Singapore
at 10:00 a.m., on Friday the 19th day of November 2004.

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

The Petitioners' address is 4 Battery Road, #15-01 Bank of China
Building, Singapore 049908.

The Petitioners' solicitors are Messrs Rajah & Tann of No. 4
Battery Road, Bank of China Building #15-01, Singapore 049908.

Messrs Rajah & Tann
Solicitors for the Petitioners

Note: Any person who intends to appear at the hearing of the
Petition must serve on or send by post to Messrs Rajah & Tann of
No. 4 Battery Road, Bank of China Building #15-01, Singapore
049908, a notice in writing of his intention to do so. The
notice must state the name and address of the person, or, if a
firm, the name and address of the firm, and must be signed by
the person or firm, or his solicitors or their solicitors (if
any) and must be served, or, if posted must be sent by post in
sufficient time to reach the Petitioners' solicitors not later
than twelve o'clock noon of the day before the day appointed for
the hearing of the Petition.

This Singapore Government Gazette notice is dated November 5,
2004.


EDSAMAIL HOLDINGS: Enters Bankruptcy Proceedings
------------------------------------------------
Notice is hereby given that a Petition for the Winding Up of
Edsamail Holdings Pte Ltd by the High Court was on 28th October
2004 presented by Bertrand A. Baterina of 19th Floor, Jollibee
Plaza, Emerald Avenue, Ortigas Center, Pasig City, a creditor.

The said Petition will be heard before the Court sitting at the
High Court in Singapore at 10 a.m. on Friday the 19th day of
November 2004.

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

The Petitioner's address is 19th Floor, Jollibee Plaza, Emerald
Avenue, Ortigas Center, Pasig City.

The Petitioner's solicitors are Messrs Joseph Tan Jude Benny of
5 Shenton Way, #35-01 UIC Building, Singapore 068808.

Messrs Joseph Tan Jude Benny
Solicitors for the Petitioner

Note: Any person who intends to appear at the hearing of the
said Petition must serve on or send by post to the above named
Messrs Joseph Tan Jude Benny of 5 Shenton Way, #35-01 UIC
Building, Singapore 068808, notice in writing of his intention
so to do. The notice must state the name and address of the
person, or if a firm, the name and address of the firm, and must
be signed by the person or firm, or his or their solicitors (if
any) and must be served, or if posted, must be sent by post in
sufficient time to reach the above named not later than twelve
o'clock noon on the 18th day of November 2004.

This Singapore Government Gazette notice is dated November 5,
2004.


INFORMATICS HOLDINGS: Books Attributable Net Loss of SG$26.7Mln
---------------------------------------------------------------
Informatics Holdings Limited disclosed at the Singapore Stock
Exchange on November 4, 2004 its group operating revenue, which
dropped 54% from SG$36.2 million to SG$16.6 million for the
quarter ended 30 September 2004, compared to the corresponding
period last year.

The attributable net loss was SG$26.7 million for Q2 FY2005
compared to a loss of SG$2.7 million in the same period last
year.

Meanwhile, the firm said the progress in restructuring plan with
strengthened management team of Informatics Campus and
Informatics Through-Train program will strengthen its
international student recruitment.

To view the entire article click on the link below:
http://bankrupt.com/misc/tcrap_informaticsholding110404.pdf

To view the Company's financial statement, click on:
http://bankrupt.com/misc/tcrap_informaticsholdings110404.pdf

CONTACT:

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


MAINLAND FREIGHT: Faces Winding Up Proceedings
----------------------------------------------
Notice is hereby given that a petition for the winding up of
Mainland Freight Forwarders Pte Ltd by the High Court was, on
the 22nd day of October 2004, presented by Koh Puay Huang of No.
3 Boscombe Road, Singapore 439736.

The Petition will be heard before the Court sitting at The High
Court of Singapore at 10:00 a.m. on the 19th day of November
2004.

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

The Petitioner's residential address is at No. 3 Boscombe Road,
Singapore 439736.

The Petitioner's solicitors are Messrs Straits Law Practice LLC
No. 133 New Bridge Road, #16-01/03-07/10 Chinatown Point,
Singapore 059413.

Dated this 1st day of November 2004.

Messrs Straits Law Practice Llc
Solicitors for The Petitioners

Note: Any person who intends to appear at the hearing of the
said Petition must serve on or send by post to the above named
Messrs Straits Law Practice LLC of No. 133 New Bridge Road, #16-
01 Chinatown Point, Singapore 059413, notice in writing of his
intention to do so. The notice must state the name and address
of the person, or if a firm, the name and address of the firm,
and must be signed by the person or the firm, or his or their
solicitors (if any) and must be served, or, if posted, must be
sent by post in sufficient time to reach the above named not
later than 12 o'clock noon of the 18th day of November 2004.

This Singapore Government Gazette notice is dated November 5,
2004.


SINEXIMCO PRIVATE: Creditors Meeting Set November 10
----------------------------------------------------
Notice is hereby given that the first meeting of the creditors
of Sineximco Private Ltd will be held at 18 Cross Street, #08-01
Marsh & McLennan Centre, Singapore 048423 on the 10th day of
November 2004, at 10:00 a.m.

To entitle you to vote thereat, your proof must be lodged with
the judicial managers not later than 12:00 p.m. on the 8th day
of November 2004.

Chee Yoh Chuang
Lim Lee Meng
Judicial Managers
c/o Chio Lim & Associates
18 Cross Street
#08-01 Marsh & McLennan Centre
Singapore 048423

Note: Copies of the Statement of Proposals have been sent to the
members and known creditors of the Company. Any members and
creditors of the Company who did not receive copies of the
aforesaid documents can write to the Judicial Managers c/o 18
Cross Street, #08-01 Marsh & McLennan Centre, Singapore 048423
to request for copies of the aforesaid documents.

This Singapore Government Gazette notice is dated November 11,
2004


STA ELEMENTS: Court Issues Winding Up Notice
--------------------------------------------
In the matter of STA Elements Pte Ltd., a Winding Up Order was
made on the 29th day of October 2004.

Name and address of Liquidator: Official Receiver, Insolvency &
Public Trustee's Office, The URA Centre, East Wing, 45 Maxwell
Road, #05-11 & #06-11, Singapore 069118

Messrs Allen & Gledhill
Solicitors for the Petitioner

Note:

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

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

This Singapore Government Gazette notice is dated November 4,
2004.


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


KRUNG THAI: Lists KTB14OA as New Securities
-------------------------------------------
The Stock Exchange of Thailand (SET) reported that the SET's
Board of Governors has granted the listing of the Subordinated
Debentures of Krung Thai Public Company Limited (KTB) No.1/2004
Due 2014 with total issue of 10 million units, at the par value
THB1,000 per unit, totaling THB10,000 million to be traded under
the sector of Bond commencing from 9 November 2004 onwards using
KTB14OA as abbreviated name for trading.


Note: Please see Information Memorandum of the mentioned KTB's
debentures from SETSMART and www.set.or.th

CONTACT:

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


SIAM AGRO: Unveils Changes in Directorship
------------------------------------------
The Siam Agro Industry Pineapple and Others Public Company
Limited advised the following in a disclosure to the Stock
Exchange of Thailand.

(1) Acknowledged the cancellation of the directors appointed on
the Board of Directors Meeting No. 4/2004 on 30 September 2004
as follows:

Name                                Position

(a) Mr. John F. Inserra             Director
(b) Mr. Sergio Mancilla             Director
(c) Mrs. Linda Conway               Director

Effective November 4, 2004 onwards.

(2) Approved the appointment to replace a vacancy in the board
of directors of the following directors:

Name                             Position

(a) Mr. Hani El- Naffy           Chairman , Director
(b) Mr. David J.  Anderson       Director, Vice Chairman 1
(c) Ms. Shirley Alice C. Chan    Director, Vice Chairman 3
(d) Mr. Carlos Q. Barquero       Director

Effective November 4, 2004 onwards.

Praful Shah
Managing Director

CONTACT:

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


THAI GERMAN: SET Allows Trading of Securities
---------------------------------------------
The Stock Exchange of Thailand (SET) allowed the securities of
Thai German Products Public Company Limited (TGPRO) to be listed
securities on the SET after finishing capital increase
procedures, starting from 8 November 2004.

However, TGPRO is a listed Company under Rehabco sector and is
in the rehabilitation process therefore, the SET has still
suspended trading all securities of TGPRO until the causes of
delisting are eliminated.

Name: TGPRO

Issued and Paid up Capital

Old: THB1,785,120,690

Number of common stock: 178,512,069 Shares

New: THB3,245,833,330

Number of common stock: 324,583,333 Shares

Par value: THB10

Allocate to: Convertible Debenture holders under the
rehabilitation plan in the number of 146,071,264 shares.
Conversion Ratio: 1 Convertible debenture: 1 Common stock

Offering Price: 0 Baht

Date of conversion: 15-22 October 2004 and 1 November 2004

CONTACT:

Thai-German Products Pcl
99 Huaypong-Nongbon Road,
Tambol Huaypong, Amphur Muang Rayong
Telephone: 0-3868-4901-5
Fax: 0-3868-4906
Web site: www.tgpro.co.th


THAI PETROCHEMICAL: Court Dismisses Founder's Petition
------------------------------------------------------
The Constitution Court dismissed the petition filed by the
founder of Thai Petrochemical Industry Public Company Limited
(TPI), Bangkok Post relates.

Prachai Leophairatana submitted to the Constitution Court a
petition seeking to declare the appointment of the firm's
administrator as unconstitutional.

A vote of 13 to 2 rejected the petition, saying the appointment
of the plan administrator did not breach the constitution under
article 90/17 of the bankruptcy law, Noppadol Soraphong, an
adviser to the Constitution Court.

Mr. Prachai said he was disappointed of the court's decision, "I
do not know what I will do next. I originally turned to the
court for help but now that the decision has turned out like
this, it is very disappointing."

Over 1,000 TPI employees rallied at the Constitution Court
Thursday to hear the decision, with many carrying banners and
signs attacking both the government and Prime Minister Thaksin
Shinawatra over the Company's treatment. About 200 police were
deployed to provide security at the court.

The court's ruling leaves the plan administrator of TPI
unchanged and would pave the way for the firm's restructuring
plan to move forward.

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




                            *********


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

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

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

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

The TCR -- Asia Pacific subscription rate is $575 for 6 months
delivered via e-mail. Additional e-mail subscriptions for
members of the same firm for the term of the initial
subscription or balance thereof are $25 each.  For subscription
information, contact Christopher Beard at 240/629-3300.

                 *** End of Transmission ***