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        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

             Thursday, November 18, 2004, Vol. 7, No. 229

                            Headlines


A U S T R A L I A

AUSTRALIAN VISUAL: To Declare Dividend on November 25
FAMINAR PTY: Final Meeting Set November 30
GEMA PROFESSIONAL: Members Resolve to Wind Up Voluntarily
GENERAL AUSTRALIAN: To Face Winding Up Process
GEPOFA PTY: To Wind Up Voluntarily

JAMES HARDIE: Interim Support Saves MRCF from Liquidation
JAY AND KAY: To Declare Final Dividend on November 24
LIONEL AND ASSOCIATES: Sets Final Meeting on November 30
MAYNE GROUP: Prices US$200 Mln Senior Notes
NATIONAL AUSTRALIA: Clarifies "Job Loss" Report

NAYSIN PTY: Final Meeting Slated for November 23
OXTON PTY: Sets November 23 as Date of Final Meeting
PATERSONIA PTY: Creditors Should Prove Claims by November 19
PRESTIGE FINISHERS: To Undergo Winding Proceedings
PRIMELIFE CORPORATION: Requests Trading Halt

PRIMELIFE CORPORATION: Unveils Takeover Proposal for Aevum
RAMA CLEARVIEW: To Undergo Winding Up Process
TADINA PTY: To Hold Final Meeting on November 23
TEGNY PTY: Sets Final Meeting on November 23
TENATA PTY: Final Meeting Slated for November 23

* Former Brighton Director Banned from Managing Corporations


C H I N A  &  H O N G  K O N G

BANK of CHINA: Disposes Of Non-Performing Assets
CHINA LIAONING: Issues Notice to Creditors to Prove Debts
CRESVALE FAR: Posts Annual General Meeting Notice
CUP LIMITED: Bankruptcy Petition Hearing Slated for December 8
CYBER RESOURCES: Creditors Meeting Set November 22

MULTITEX LIMITED: Enters Winding Up Proceedings
ORIENTAL YEAR: To Hold Final General Meeting December 30
* Soaring Defaults Hurt Car Loans


I N D O N E S I A

ASIA PULP: Greenpeace China Files Illegal Logging Suit
PT TIMAH: Says Current Tin Prices To Stay Despite Strong Demand


J A P A N

DAIEI INCORPORATED: To Sell Hawks to Softbank for JPY5 Bln
FUJITSU LIMITED: R&I Assigns A to SB Nos. 22 & 23
KUMAGAI GUMI: Scraps Planned Merger with Tobishima
SAGAMI RAILWAY: JCR Affirms BBB on Bonds
SOJITZ HOLDINGS: American Unit Receives Order for Rail Cars

SOJITZ HOLDINGS: Net Loss Widens to JPY241 Bln
TOSHIBA CORPORATION: Greater China Sales May Double in 2 Years


K O R E A

DAEWOO ENGINEERING: Creditors File Lawsuit On US$530-Mln Loan
HANARO TELECOM: Releases October 2004 Subscriber Number
HYNIX SEMICONDUCTOR: Inks Contract With STMicroelectronics
SK NETWORKS: Creditors to Sell Combined 15% Stake


M A L A Y S I A

ANCOM BERHAD: Issues Shares Buy Back Notice
EKRAN BERHAD: Releases Amended 1H/FY04 Financial Statements
GOLDEN PLUS: Answers Bursa Malaysia Query
KUB MALAYSIA: Swings to Black with RM34.46 Mln Net Profit
LATEXX PARTNERS: To Issue 78.59 Mln Shares To Pare Debts

MTD CAPITAL: Purchases 440,000 Ordinary Shares on Buy Back
MYCOM BERHAD: Scheme of Arrangement Hearing Set November 30
OLYMPIA INDUSTRIES: Updates Capital Reduction Exercise
WCT ENGINEERING: Notes Closed Period Dealings


P H I L I P P I N E S

BENPRES HOLDINGS: Narrows 3Q/FY04 Net Loss to Php292 Mln
NATIONAL POWER: To Bid Out Oil, Coal Requirements
NATIONAL POWER: Aboitiz Clarifies Bid Report
PHILIPPINE LONG: Post Changes in Beneficial Securities
PHILIPPINE LONG: Clarifies HomeCable Acquisition Report


S I N G A P O R E

ALLGREEN PROPERTIES: Issues, Allots Ordinary Shares
DATACRAFT ASIA: Unveils 3Q Financial Results
DAVNET SINGAPORE: Issues Notice of Intended Dividend
GOODWOOD PARK: Posts Change In Shareholder's Interest
GOODWOOD PARK: Notes Change in Shareholder's Interest

ROAD DYNAMICS: Posts Notice of Dividend
THL FOOD: Court Issues Winding Up Order
QUEE WAH: Releases Notice of Dividend


T H A I L A N D

ASIA HOTEL: SET Posts SP Sign on Securities
KRUNG THAI: Clarifies Operating Results for 3Q/FY04
NFC FERTILIZER: Releases 3Q Reviewed, Consolidated FS
SAHAMITR PRESSURE: Unveils 3Q Operating Result
SINO-THAI: Submits Reviewed Financial Statements to SET

SYNTEC CONSTRUCTION: Releases 3Q Reviewed, Consolidated FS
TANAYONG: SP Sign Posted on Securities
THAI ELECTRONIC: Posts 3Q Reviewed, Consolidated FS
THAI ENGINE: SET Posts SP Sign on Securities
TONGKAH HARBOUR: Unveils 3Q Reviewed, Consolidated FS

     -  -  -  -  -  -  -  -

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


AUSTRALIAN VISUAL: To Declare Dividend on November 25
-----------------------------------------------------
A First and Final Dividend is to be declared on 25 November 2004
for the creditors of Australian Visual Communications Limited
(Subject To Deed Of Company Arrangement) A.C.N. 057 121 749.

Creditors whose debts or claims have not already been admitted
were required on or before 10 November 2004 to formally prove
their debts or claims. If they do not, they will be excluded
from the benefit of the dividend.

Dated this 7th day of October 2004

Geoffrey Mcdonald
Deed Administrator
Hall Chadwick Chartered Accountants
Level 29, 31 Market Street,
Sydney NSW 2000


FAMINAR PTY: Final Meeting Set November 30
------------------------------------------
Notice is hereby given that the final meeting of the creditors
and members of Faminar Pty Limited (In Liquidation) A.C.N. 003
885 738 will be held at the offices of Jones Condon Chartered
Accountants, Level 1, 34 Charles Street, Parramatta NSW, on 30
November 2004 at 11:00 a.m., for the purpose of laying before
the meeting an account showing how the winding up has been
conducted and the property of the Company has been disposed, and
giving any explanation thereof.

Dated this 11th day of October 2004

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


GEMA PROFESSIONAL: Members Resolve to Wind Up Voluntarily
---------------------------------------------------------
Notice is hereby given that at General Meeting of Members of
Gema Professional Caterers Pty Limited (In Voluntary
Liquidation) A.C.N. 001 272 000 duly convened and held at 7
Narabang Way, Belrose NSW 2085 on Thursday, 7 October 2004 at
10:30 a.m., a Special Resolution was passed that the Company be
wound up voluntarily and Peter Ngan was appointed Liquidator.

Dated this 7th day of October 2004

P. Ngan
Liquidator
Ngan & Co
Chartered Accountants
Level 5, 49 Market Street,
Sydney NSW 2000


GENERAL AUSTRALIAN: To Face Winding Up Process
----------------------------------------------
Notice is hereby given that at a General Meeting of Members of
General Australian Security Pty Limited (In Liquidation) A.C.N.
075 404 625 duly convened and held at 214 Victoria Street,
Wetherill Park NSW 2164 on Wednesday, 6 October 2004 at 8:30
a.m. a Special Resolution that the Company be wound up
voluntarily was passed by members and the undersigned was
appointed Liquidator. The appointment of Liquidator was
confirmed by creditors pursuant to Section 497(1) of the
Corporations Act 2001 at a meeting of creditors held
subsequently that day.

Dated this 11th day of October 2004

P. Ngan
Liquidator
Ngan & Co
Chartered Accountants
Level 5, 49 Market Street,
Sydney NSW 2000


GEPOFA PTY: To Wind Up Voluntarily
----------------------------------
Notice is hereby given that at a general meeting of members of
Gepofa Pty Ltd A.C.N. 000 574 836 held on Wednesday 6th October
2004, it was resolved that the Company be wound up voluntarily
and that for such purpose Mr. Richard Venn Pickering, Chartered
Accountant of PMK Partners, Suite 40, Victoria Park Estate, 8
Victoria Avenue, Castle Hill, NSW, 2153, be appointed
Liquidator.

Dated this 6th day of October 2004

Richard V. Pickering
Liquidator
PMK Partners
Suite 40, Victoria Park Estate,
8 Victoria Avenue,
Castle Hill NSW 2154


JAMES HARDIE: Interim Support Saves MRCF from Liquidation
---------------------------------------------------------
Asbestos victims with legitimate claims will have access to
further funding under new arrangements offered by James Hardie
Industries NV.

Offer of Indemnity to ABN 60

James Hardie Industries NV (JHI NV) announced it has offered an
indemnity to the ABN 60 Foundation directors that should
facilitate the immediate provision by ABN 60 of AU$85 million in
cash being made available to the Medical Research and
Compensation Foundation (together with Amaca Pty Ltd and Amaba
Pty Ltd, MRCF).

The indemnity offered to ABN 60 directors should remove
obstacles perceived by them, and the MRCF, that have previously
stopped the MRCF from drawing on funds available to it through
ABN 60.

This follows public statements made by the MRCF that it requires
additional cash funding to remain solvent.

Additional funding support from JHI NV

In addition to offering the indemnity to ABN 60, James Hardie
has advised the MRCF that, should MRCF's funds prove
insufficient to meet legitimate claims, James Hardie intends to
provide interim funding on a month-to-month basis to enable
those claims to be met. This arrangement would apply for up to 6
months from today while negotiations with the ACTU are being
concluded and necessary approvals are sought.

The interim funding to the MRCF will be provided once the MRCF's
existing sources of funds are exhausted. This would be reviewed
if a provisional liquidator were appointed.

JHI NV Chairman, Meredith Hellicar said the offer of the
indemnity to ABN 60 and the offer of further interim funding to
the MRCF by JHI NV is a positive step forward in ensuring all
legitimate claimants continue to be paid.

"We believe the MRCF now has the security of interim funding to
maintain its role in providing financial support to the victims
and families affected by asbestos related diseases.

"By proposing this arrangement, James Hardie is seeking to
ensure that no-one who is entitled to receive compensation from
the MRCF will go without funding while a long-term solution to
the asbestos compensation issue is being finalized."

Negotiations with the ACTU to reach a solution are progressing.
Negotiations are now focused on how to achieve efficiencies in
the current claims payment processes. The negotiations are
designed to ensure that legitimate asbestos claimants are dealt
with and settled rapidly and that the level of legal and other
administrative costs can be significantly reduced.

JHI NV Chairman Meredith Hellicar said, "The current level of
administrative and legal costs threatens the robustness of any
solution and the security of claimant payments over the long
term."

Once a final agreement has been reached, the proposal will be
put to James Hardie shareholders for consideration.

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


JAY AND KAY: To Declare Final Dividend on November 24
-----------------------------------------------------
A first and final dividend to priority creditors is to be
declared on 24 November 2004 for Jay And Kay Safety Glass Pty
Limited (In Liquidation) A.C.N. 079 792 153.

Creditors whose debts or claims have not already been admitted
were required on or before 9 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 11th day of October 2004

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


LIONEL AND ASSOCIATES: Sets Final Meeting on November 30
--------------------------------------------------------
Notice is hereby given that the final meeting of the creditors
and members of Lionel And Associates Pty Limited (In
Liquidation) A.C.N. 088 655 716 will be held at the offices of
Jones Condon Chartered Accountants, Level 1, 34 Charles Street,
Parramatta NSW, on 30 November 2004 at 11.00 a.m., for the
purpose of laying before the meeting an account showing how the
winding up has been conducted and the property of the Company
has been disposed and giving any explanation thereof.

Dated this 11th day of October 2004

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


MAYNE GROUP: Prices US$200 Mln Senior Notes
-------------------------------------------
Mayne Group Limited (Mayne) announced that it has successfully
priced a US$200 million offering of 5.845% Senior Notes due
2011. The 7-year offering was priced at a spread of 170 basis
points over seven year mid-swaps or a re-offer yield of 5.994%.

The securities were issued by Mayne, and are fully and
unconditionally guaranteed by certain subsidiaries of Mayne. The
issue is rated Ba1 by Moody's and BB by Standard and Poor's.

The net proceeds of the notes are expected to be used to repay
existing unsecured indebtedness and for general corporate
purposes.

The note offering is a further step in Mayne's capital
management program that is designed to support Mayne's current
and future capital needs as well as maintaining a strong and
efficient balance sheet.

This announcement does not constitute an offer of securities for
sale in Australia, the United States, or any other jurisdiction.
Any securities described in this announcement have not been
registered under the U.S. Securities Act of 1933 (the
"Securities Act) and may be offered or sold in the United States
or to U.S. persons unless the securities are registered under
the Securities Act or any exemption from the registration
requirements of the Securities Act is available.

Mayne Group Limited is listed on the Australia Stock Exchange
and has businesses in international specialty pharmaceuticals
(the manufacture of injectable and oral pharmaceuticals for
distribution to more than 50 countries), diagnostic services
(pathology, diagnostic imaging and medical centers), pharmacy,
and health-related consumer products.

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/

Media and investor inquiries
Larry Hamson
Phone: 03 98680380
Mobile: 0407 335 907


NATIONAL AUSTRALIA: Clarifies "Job Loss" Report
-----------------------------------------------
National Australia Bank clarified it would not undertake any
massive layoffs this week following a newspaper report that 300
IT workers would be axed as part of its restructuring efforts,
according to The Advertiser.

NAB spokesman Brendan Phillips, however, admitted the bank
disclosed in its profit announcement that it would be
streamlining the corporate center and integrating business in
Australia.

"But that's a work in progress so the numbers in the paper today
are pure speculation."

Mr. Phillips said it was too early to say when the details of
restructuring would be announced.

According to Mr. Phillips, NAB will be restructuring the
leadership teams in the next few weeks.

CONTACT:

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


NAYSIN PTY: Final Meeting Slated for November 23
------------------------------------------------
Notice is given that a final meeting of members of Naysin Pty
Limited A.C.N. 007 320 363 (In Liquidation) will be held at the
offices of Ernst & Young, Level 16, 321 Kent Street, Sydney NSW
2000 on 23 November 2004 at 10:30 a.m.

The purpose of the meeting is to lay an account before it,
showing the manner in which the winding up has been conducted
and the property of the Company disposed of, and for hearing any
explanation that may be given by the Liquidator.

Dated this 19th day of October 2004

Keiran Hutchison
Liquidator
Ernst & Young
Level 16, 321 Kent Street,
Sydney NSW 2000
Telephone: (02) 9248 5194


OXTON PTY: Sets November 23 as Date of Final Meeting
----------------------------------------------------
Notice is given that a final meeting of members of Oxton Pty
Limited A.C.N. 008 607 145 (In Liquidation) will be held at the
offices of Ernst & Young, Level 16, 321 Kent Street, Sydney NSW
2000 on 23 November 2004 at 11:30 a.m.

The purpose of the meeting is to lay an account before it,
showing the manner in which the winding up has been conducted
and the property of the companies disposed of, and for hearing
any explanation that may be given by the Liquidator.

Dated this 19th day of October 2004

Keiran Hutchison
Liquidator
Ernst & Young
Level 16, 321 Kent Street,
Sydney NSW 2000
Telephone: (02) 9248 5194


PATERSONIA PTY: Creditors Should Prove Claims by November 19
------------------------------------------------------------
A first and final distribution is to be declared on 19th
November 2004 for Patersonia Pty Limited (In Liquidation) A.C.N.
004 787 937.

Creditors whose debts or claims have not already been admitted
are required on or before 19th 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 5th day of October 2004

Brian H. Allen
Peter G. Burton
Liquidators
c/- Burton Glenn Allen
Chartered Accountants
Level 2, 57 Grosvenor Street,
Neutral Bay


PRESTIGE FINISHERS: To Undergo Winding Proceedings
--------------------------------------------------
Notice is hereby given that at a General Meeting of Members of
Prestige Finishers (NSW) Pty Limited (In Liquidation) A.C.N. 056
277 180 duly convened and held at 9 Terone Place, Bossley Park
NSW 2176 on Wednesday, 6 October 2004 at 8:45 a.m. a Special
Resolution that the Company be wound up voluntarily was passed
by members and the undersigned was appointed Liquidator.

The appointment of Liquidator was confirmed by creditors
pursuant to Section 497(1) of the Corporations Act 2001 at a
meeting of creditors held subsequently that day.

Dated this 11th day of October 2004

P. Ngan
Liquidator
Ngan & Co
Chartered Accountants
Level 5, 49 Market Street,
Sydney NSW 2000


PRIMELIFE CORPORATION: Requests Trading Halt
--------------------------------------------
Primelife Corporation Limited requested a trading halt Wednesday
in Primelife shares (ASX Code: PLF) and Primelife Convertible
Notes (ASX Code: PLFGA).

The trading halt is requested until the Company releases a
further announcement or until the commencement of trading today.

The Company is not aware of any reason why the trading halt
should not be granted.

CONTACT:

Primelife Corporation Limited
Kings Way South Melbourne
Victoria 3205 Australia
Telephone: +61-3-8699-3300
Facsimile: +61-3-8699-3414
Web site: www.primelife.com.au


PRIMELIFE CORPORATION: Unveils Takeover Proposal for Aevum
----------------------------------------------------------
The Board of Directors of Primelife Corporation Limited is
pleased to announce a takeover proposal for soon to be listed
Sydney-based retirement village operator Aevum Limited. Aevum is
scheduled to commence trading on the Australian Stock Exchange
today, November 18, 2004.

The acquisition will be by way of an off market scrip offer by
Primelife for all the shares in Aevum. Primelife intends to
offer Primelife shares at an effective price of AU$1.30 per
Aevum share, representing a premium of about 44 percent over the
Initial Public Offer (IPO) price of AU$0.90. The offer values
Aevum at approximately AU$106.2 million.

The offer will not have a minimum acceptance level condition,
but will be subject to conditions standard for acquisitions of
this type.

Primelife Chairman, Robert Champion de Crespigny, AC, said the
proposed acquisition of Aevum was a significant step that
underscored the strength and focus of Primelife's management
team following the recent restructuring of the Primelife Group.

"The acquisition will be a significant step in the consolidation
of Primelife's position as Australia's pre-eminent provider of
retirement villages and aged care facilities, " Mr. Champion de
Crespigny said.

"It is a clear illustration of the renewed focus and strategic
direction of the Primelife Group.

"The acquisition proposal closely follows the completion of a
restructuring program which involved an AU$80 million
recapitalization, a revitalization of the Board and senior
management and the establishment of strategic relationships with
both Babcock & Brown and Multiplex.

"This Offer is the first step in a broader acquisition and
consolidation program that Primelife intends to pursue over the
coming 24 months. The recent recapitalization has funded
Primelife's existing business plan and Primelife is considering
a new note issue to raise additional funding to accelerate the
broader industry consolidation strategy.

"Primelife has held a number of productive and positive
discussions with Aevum and in those discussions has canvassed
Aevum's Chairman, Mr. Allen Kavanagh, and another colleague
regarding joining the Primelife Board.

"Primelife and Aevum are complementary businesses with a similar
vision for the future of the industry and if Primelife completes
the acquisition of all Aevum shares, it will provide significant
benefits to both sets of shareholders, " Mr. Champion de
Crespigny said.

Primelife Managing Director, Jim Hazel, said the combined
Primelife/Aevum would have greater geographic and operational
diversity.

"The Aevum management team would complement the new Primelife
Group, both in terms of skills and location," Mr. Hazel said.
"In fact, the two groups are so complementary that Primelife has
not included a minimum acceptance condition, but we would like
to think that we will receive acceptances for more than 80% so
that Aevum shareholders will have the opportunity to benefit
from capital gains tax roll over relief.

"For Primelife, the acquisition of Aevum would provide access to
the Sydney market through the Cardinal Freeman Village in
Ashfield, the Lourdes Village in Killara and the Bexley
retirement village.

"At the same time, accepting Aevum shareholders would benefit
from access to Primelife's existing portfolio of development
projects in Victoria, as well as new projects through
Primelife's joint venture with Multiplex and Babcock & Brown.

"The combined businesses would provide accommodation and care to
almost 7,000 Australians across all mainland States. it would
also provide a platform for the continuing consolidation in the
seniors living market in this country."

The bidder's statement with further details of the offer is
expected to be served on Aevum shortly.

Primelife has arranged for Tricom Equities Limited to provide a
cash out facility (at market) for accepting Aevum shareholders
who do not wish to participate future plans for the
consolidation of the industry.


RAMA CLEARVIEW: To Undergo Winding Up Process
---------------------------------------------
Notice is hereby given that at a General Meeting of Members of
Rama Clearview Glazing Pty Limited (In Liquidation) A.C.N. 054
476 434 duly convened and held at Lot 106, The Appian Way, Mt
Vernon NSW 2759 on Wednesday, 6 October 2004 at 9:00 a.m. a
Special Resolution that the Company be wound up voluntarily was
passed by members and the undersigned was appointed Liquidator.
The appointment of Liquidator was confirmed by creditors
pursuant to Section 497(1) of the Corporations Act 2001 at a
meeting of creditors held subsequently that day.

Dated this 11th day of October 2004

P. Ngan
Liquidator
Ngan & Co
Chartered Accountants
Level 5, 49 Market Street,
Sydney NSW 2000


TADINA PTY: To Hold Final Meeting on November 23
------------------------------------------------
Notice is given that a final meeting of members of Tadina Pty
Limited A.C.N. 002 325 804 (In Liquidation) will be held at the
offices of Ernst & Young, Level 16, 321 Kent Street, Sydney NSW
2000 on 23 November 2004 at 12:00 p.m.

The purpose of the meeting is to lay an account before it,
showing the manner in which the winding up has been conducted
and the property of the Company disposed of, and for hearing any
explanation that may be given by the Liquidator.

Dated this 19th day of October 2004

Keiran Hutchison
Liquidator
Ernst & Young
Level 16, 321 Kent Street,
Sydney NSW 2000
Telephone: (02) 9248 5194


TEGNY PTY: Sets Final Meeting on November 23
--------------------------------------------
Notice is given that a final meeting of members of Tegny Pty
Limited A.C.N. 002 326 025 (In Liquidation) will be held at the
offices of Ernst & Young, Level 16, 321 Kent Street, Sydney NSW
2000 on 23 November 2004 at 12:30 p.m.

The purpose of the meeting is to lay an account before it,
showing the manner in which the winding up has been conducted
and the property of the Company disposed of, and for hearing any
explanation that may be given by the Liquidator.

Dated this 19th day of October 2004

Keiran Hutchison
Liquidator
Ernst & Young
Level 16, 321 Kent Street,
Sydney NSW 2000
Telephone: (02) 9248 5194


TENATA PTY: Final Meeting Slated for November 23
------------------------------------------------
Notice is given that a final meeting of members of Tenata Pty
Limited A.C.N. 002 326 061 (In Liquidation) will be held at the
offices of Ernst & Young, Level 16, 321 Kent Street, Sydney NSW
2000 on 23 November 2004 at 1:00 p.m.

The purpose of the meeting is to lay an account before it,
showing the manner in which the winding up has been conducted
and the property of the Company disposed of, and for hearing any
explanation that may be given by the Liquidator.

Dated this 19th day of October 2004

Keiran Hutchison
Liquidator
Ernst & Young
Level 16, 321 Kent Street,
Sydney NSW 2000
Telephone: (02) 9248 5194


* Former Brighton Director Banned from Managing Corporations
------------------------------------------------------------
The Australian Securities and Investments Commission (ASIC)
banned Mr. Peter David Voss, of Brighton in Victoria, from
managing corporations for two years.

ASIC found that over the past seven years Mr. Voss had been a
director of Bio Engineering Pty Ltd, Stranti Investments Pty Ltd
and Lakeview Estate Pty Ltd. Each of these companies went into
liquidation and the liquidators reported they were unable to pay
their creditors more than 50 cents in the dollar.

ASIC was also concerned that Mr. Voss:

(1) Failed to ensure proper books and records were kept;

(2) Failed to remit statutory liabilities;

(3) Failed to assist the liquidator;

(4) Caused Bio-Engineering to enter into an uncommercial
transaction which had the effect of disposing of its business;
and

(5) Had been convicted of contempt in the Supreme Court of
Victoria.

ASIC believed that in light of the above actions, Mr. Voss'
conduct demonstrated an improper disregard for the interests of
creditors.

The Deputy Executive Director of Enforcement, Mr. Mark Steward
said ASIC took action to prevent Mr. Voss from further misusing
the corporate structure, and in doing so protect the public.

"ASIC will pursue directors of failed companies who disregard
their obligations and we will take action to protect the public
from irresponsible operators," Mr. Steward said.

The decision follows a hearing where Mr. Voss was given the
opportunity to respond to ASIC's concerns.

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


==============================
C H I N A  &  H O N G  K O N G
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BANK of CHINA: Disposes Of Non-Performing Assets
------------------------------------------------
A total of CNY145.85 billion of non-performing assets of Bank of
China (BOC) has been disposed by China Orient Asset Management
Group, while CNY21.95 billion cash in the past five years have
been recovered, reports Infocast.

China Orient Asset Management was built in 1995 in order to
dispose of BOC's bad debts in thereby reducing the bank's non-
performing asset ratio by 9 percent.

Cash recovery rate is pegged at 15.05% while non-cash assets
worth CNY9.2 million have been recovered. In the present year
alone, CNY5.087 billion have been recovered an amount equivalent
to 23.18% of the total amount of cash recovered throughout the
past 5 years.

Asset disposal targets have already been targeted for the coming
two years, stressing an effort on disposal and cash recovery to
be strengthened within the next year. A 10% cash recovery amount
growth within the year is targeted.

Measures such as replacing piece-by-piece sale of debts by
bundling debts, equity interests and investment projects for
sale so as to enhance asset disposal value and overall recovery
rate, as well as actively pursuing asset restructuring business,
boosting disposal of low-value assets and enhancing shareholding
management, are planned to be administered.


CHINA LIAONING: Issues Notice to Creditors to Prove Debts
---------------------------------------------------------
Notice is hereby given that the creditors of China Liaoning
Limited are required on or before 14 December 2004 to send in
their names and address of their solicitors (if any) to the
Liquidators of the Company at 29/F., Wong On Centre, 111
Connaught Road Central, Hong Kong.

If so required by notice in writing from the Liquidators, they
are to come in personally or by their solicitors and prove their
debts or claims at such time and place as shall be specified in
such notice, or in default thereof. They will be excluded from
the benefit of any distribution before such debts are proved.

Dated this 12 November 2004.

Kong Chi How, Johnson
Lo Siu Ki
Joint and Several Liquidators


CRESVALE FAR: Posts Annual General Meeting Notice
-------------------------------------------------
Notice is hereby given that pursuant to Section 247 of the
Companies Ordinance, a meeting of the members of Cresvale Far
East Limited will be held at 20th Floor, Prince's Building,
Central, Hong Kong on 13th day of December 2004 at 2:00 p.m. and
will be followed by a meeting of the creditors of the Company to
be held at the same place at 3:00 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
preceding year.

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 20th Floor, Prince's
Building, Central, Hong Kong not later than 4:00 p.m. on the day
before the meetings.

Dated this 12th day of November 2004.

Joanne Oswin
Joint and Several Liquidators


CUP LIMITED: Bankruptcy Petition Hearing Slated for December 8
--------------------------------------------------------------
Notice is hereby given that a Petition for the Winding up of Cup
Limited by the High Court of Hong Kong Special Administrative
Region was on the 18th day of October 2004 presented to the said
Court by Wong Che Kuen of Room 1603, Parkway Court, 4 Park Road,
Mid-Level, Hong Kong.

The said Petition will be heard before the Court at 9:30 am on
the 8th day of December 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.

Kam & Fan
Solicitors for the Petitioner
Room 505, 5th Floor
Melbourne Plaza
33 Queen's 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 7th day of
December 2004.


CYBER RESOURCES: Creditors Meeting Set November 22
--------------------------------------------------
Notice is hereby given pursuant to Section 241 of the Companies
Ordinance, that a meeting of the creditors of Cyber Resources
and Technology Limited will be held at 2:00 p.m. on 22nd day of
November 2004 at 7th Floor, Allied Kajima Building, 138
Gloucester Road, Wanchai, 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, 251(1)(a), 255A(2) and 283 of the Companies
Ordinance.

Creditors may vote either in person or by proxy. Proxies used at
the meeting must be lodged at 7th Floor, Allied Kajima Building,
138 Gloucester Road, Wanchai, Hong Kong not later than 4:00 p.m.
on the day before the time appointed for the holding of the
meeting.

Dated this 3rd day of November 2004

Chui Kong Sang, Allan
Director


MULTITEX LIMITED: Enters Winding Up Proceedings
-----------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Multitex Limited by the High Court of Hong Kong Special
Administrative Region was on the 21st day of October 2004
presented to the said Court by The Hongkong And Shanghai Banking
Corporation Limited whose registered office is situated at No.1
Queen's Road Central, Hong Kong.

The said Petition will be heard before the Court at 9:30 am on
the 8th day of December 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.

Johnson Stokes & Master
Solicitors for the Petitioner
18th Floor, Prince's Building
10 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 7th day of
December 2004.


ORIENTAL YEAR: To Hold Final General Meeting December 30
--------------------------------------------------------
Notice is hereby given that, pursuant to Section 239 of the
Companies Ordinance (Chapter 32), the Final General Meeting of
the Shareholders of Oriental Year Enterprises Limited will be
held at 17th Floor, Hutchison House, 10 HarCourt Road, Central,
Hong Kong on 30th day of December 2004 at 10:00 am for the
purpose of having an account laid before them showing the manner
in which the winding up has been conducted and of hearing any
explanation that may be given by the liquidators and also to
consider.

If thought fit, pass the following special resolution:
"That the books, accounts and documents of the Company and of
the liquidators be retained for a period of six months from the
dissolution of the Company and thereafter be destroyed."
Dated this 12th day of November 2004

Stephen Liu Yiu Keung
Yeo Boon Ann
Joint and Several Liquidators


* Soaring Defaults Hurt Car Loans
---------------------------------
China's commercial banks have joined efforts to collect bad
loans that could be attributed to China's vehicle market,
reports The Standard.

Industrial and Commercial Bank of China (ICBC), China
Construction Bank (CCB), Bank of China (BOC) and the
Agricultural Bank of China said that 81% percent of loans gone
bad are pegged at more than CNY180 billion.

The Big Four banks are now in this predicament due to lack of
adequate credit control. Now the banks are under pressure from
the China Banking Regulatory Commission who has put a clamp on
new car loans.

A restraint has been implemented on car loans in an attempt to
cut back risk. Since September 30 outstanding loans have totaled
CNY160 billion, down by CNY23.3 billion while car sales fell by
7.99% in October. Car production on the other hand slowed down
by 20% in October as compared to the previous month.

The cleaning of the debts would entail two processes: raising
the financial threshold for would-be borrowers and compiling a
unified list of people who have defaulted on loans. Car dealers
are seriously looking to vehicle finance companies to arrange
credit for its clientele. In addition people are now putting off
purchasing a car in anticipation that sticker prices will
continually fall.


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


ASIA PULP: Greenpeace China Files Illegal Logging Suit
------------------------------------------------------
International environmental group Greenpeace accused Asia Pulp
and Paper Company Limited (APP) of illegal logging in remote
Chinese forests, Reuters reveals.

Greenpeace's China office claimed APP breached Chinese law by
logging natural forests for two years in the Southern province
of Yunnan.

The environmental group, therefore, requested the Chinese
government to suspend APP's projects in Yunnan and conduct all
new assessments of those projects.

However, the pulp and paper Company denied the accusations,
insisting it is operating legally in China and in all countries
it operates.

"We hope and we believe that the Chinese government will look at
these in a fair and objective manner and take the appropriate
action that is necessary," APP's director of sustainability
Adrian Ardie said.

The environmental group said APP was logging natural forests,
not farmed trees as originally proposed, and planting non-native
eucalyptus trees that could cause erosion, trammel local
biodiversity and otherwise damage Yunnan's ecology and economy.

Greenpeace China said it had forwarded its findings to China's
forestry bureau and expected a response from the government
agency in 60 days.

Several environmental organizations have filed lawsuits against
APP for illegal logging in Indonesia, although the Company
denied any misconduct.

But APP announced in late October it was enforcing a moratorium
on tree cutting in two strategic areas of Indonesia until
conservation assessments were completed.

CONTACT:

Asia Pulp & Paper Company Ltd.
69 Loyang Dr.
508958 Singapore
Phone: +65-6477-6118
Fax: +65-6477-6116
Web site: http://www.asiapulppaper.com


PT TIMAH: Says Current Tin Prices To Stay Despite Strong Demand
---------------------------------------------------------------
Tin miner PT Timah ruled out the possibility of tin prices going
up next year despite higher demand because of rampant illegal
trade of metal, reports The Jakarta Post.

The state-owned firm estimated next year's tin prices to stand
between US$8,000 and US$9,000 per ton, more or less the same as
this year's average. Demand, on the other hand, is expected to
rise by 5 percent to 280,000 tons.

"Illegal tin mining and trading activities by local businessmen
on Bangka island to traders in Singapore will flood the market
with cheap illegal tin, which will eventually halt tin prices
from increasing," Timah finance director Wachid Usman explained.

According to Mr. Wachid, the illegal activities over the past
six years have cost the Company around IDR500 billion (US$55.5
million) in losses.

In addition, the lack of raw tin material due to the widespread
illegal tin mining had caused Timah to lower its production
output this year to about 40,000 tons from 45,906 tons last
year.

Timah had recently reported the matter to the Minister for State
Enterprises Sugiharto, who is expected to discuss the issue with
the Ministry of Home Affairs.

CONTACT:

Pt Timah Terbuka
Jalan Jenderal Sudirman 51
Pangkalpinang, Bangka 33121
Indonesia
Phone: +62 717 431335
Fax: +62 717 432323
Web site: http://www.pttimah.com/


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


DAIEI INCORPORATED: To Sell Hawks to Softbank for JPY5 Bln
----------------------------------------------------------
Daiei Incorporated has decided to sell its professional baseball
franchise to Softbank Corporation for JPY5 billion (US$47.33
million), Reuters reports.

The embattled retailer, which is seeking to dispose of its
entire 98 percent stake in the Fukuoka Daiei Hawks, had
presented the deal to Japan's professional baseball association
for approval.

U.S. investment fund Colony Capital LLC, which bought the
Fukouka Dome from Daiei and gained rights to sell Hawks tickets
and products, is understood to have a significant role in
determining the terms of the planned divestment of the
professional baseball club.

According to Daiei, Colony obtained the right to "recommend" a
buyer for the Hawks for JPY5 billion if the ailing retailer
opted to dispose of the team.

Daiei believed the set price is a fair evaluation of the of the
operations value, given the fact that the team loses around JPY1
billion annually.

Meanwhile, representatives of professional baseball clubs
decided to delay the new Hawks entry into the baseball community
until the end of January, from the original schedule of November
30, as the transfer process of the team from Daiei to Softbank
will take time.

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


FUJITSU LIMITED: R&I Assigns A to SB Nos. 22 & 23
-------------------------------------------------
Rating and Investment Information, Inc. (R&I), has assigned the
following ratings to Fujitsu Ltd.

Long-term Debt
New Issue (issued under the Shelf Registration scheme)
R&I RATING: A

RATIONALE:

In the growth area of computer system construction, Fujitsu Ltd.
holds Japan's leading competitive position. R&I gives positive
recognition to its operational structure in this business which
is steadily generating profits.

On the other hand, Fujitsu also has businesses that can be
considered non-core and structural reforms in this area are
incomplete. Downward pressure on the rating continues. Moreover,
in view of the Company's insufficient reserves for retirement
benefit liabilities and operating loss carry forwards for tax
purposes, R&I believes that it is essential for Fujitsu to
accumulate profits by withdrawing from businesses that are
unprofitable and accelerating business cooperation with other
companies. At the same time, the Company must attempt to bolster
its profits and increase equity capital through the sale of
shares and other assets and through capital increases.

R&I RATINGS:
ISSUER: Fujitsu Ltd.
Long-term Debt
New Issue (issued under the Shelf Registration scheme)

ISSUE:
Bonds Rated   Issue Date    Redemption    Issue Amount(mln)
Unsec. Str.
Bonds No. 22  Nov 25, 2004  Nov 22, 2007  JPY50,000
Unsec. Str.
Bonds No. 23  Nov 25, 2004  Nov 25, 2010  JPY50,000

CONTACT:

Fujitsu Limited
1-5-2, Higashi-Shinbashi,
Minato-ku, Tokyo,
105-7123 JAPAN
Phone: +81-3-6252-2220
Web site: http://www.fujitsu.com/


KUMAGAI GUMI: Scraps Planned Merger with Tobishima
--------------------------------------------------
Embattled construction firms Kumagai Gumi Company and Tobishima
Corporation shelved plans to merge in April next year due to the
high cost of integrating operations, says The Japan Times.

Both firms decided to scrap the merger plan, which was announced
12 months ago, after concluding the costs of combining computer
systems and personnel cuts would be bigger than expected.

Kumagai Gumi President Kazutoshi Torikai and Tobishima President
Yoshiharu Tomimatsu told reporters they decided the companies
wouldn't be able to benefit from the merger.

The contractors began experiencing financial woes after the
collapse of the bubble economy in the early 1990s.

While seeking to revive their businesses with the support of its
major lenders, the two firms agreed in April 2003 to merger,
possibly under a holding Company. Seven months later they
decided to seek a merger in view of the shrinking construction
market.

Last fiscal year Kumagai Gumi recorded a group net profit of
JPY280.21 billion and a pretax profit of JPY2.78 billion on
sales of JPY341.74 billion.

In the same year, Tobishima tallied a group net loss of JPY4.18
billion but booked a JPY3.50 billion pretax profit on sales of
JPY209.20 billion.

CONTACT:

Kumagai Gumi Company
2-1, Tsukudo-cho, Shinjuku-ku
Tokyo 162-8557, Japan
Phone: +81-3-3235-8641
Fax: +81-3-5229-7090

Tobishima Corporation
2 Sanban-Cho
Chiyoda-Ku 102-8332,
Tokyo 102-8332, JAPAN
Phone: +81 3 5214 8269
Fax: +81 3 3262 3739


SAGAMI RAILWAY: JCR Affirms BBB on Bonds
----------------------------------------
Japan Credit Rating Agency Limited (JCR) has affirmed the BBB
ratings on the bonds of Sagami Railway Co., Ltd.

Issues        Amount(bln) Issue Date     Due Date       Coupon
bonds no.1    JPY10       Dec. 22, 1997  Dec. 22, 2004  2.300%
convertible
bondsno.11    JPY15       Apr. 22, 1996  Sept. 30, 2005 0.550%
bonds no.6    JPY10       May 25, 1999   May 25, 2006   2.050%
bonds no.4    JPY10       May 26, 1998   May 26, 2006   2.425%
bonds no.2    JPY10       Dec. 22, 1997  Dec. 21, 2007  2.750%
bonds no.5    JPY10       Sept. 18, 1998 Sept. 18, 2008 2.600%
bonds no.7    JPY10       May 26, 1999   May 25, 2009   2.450%
bonds no.8    JPY10       Apr. 26, 2000  Apr. 26, 2010  2.525%

Rationale:

Sagami Railway announced last year that it would change its
corporate structure into a holding Company structure. It
hammered out policies to intensively allocate the management
resources to area around Yokohama Station West Exit and the
areas along the railway line extended to central part of
Kanagawa Prefecture. It also set out a drastic cost reduction
plan and a cutback on the interest-bearing debt.

Sagami Railway plans to increase the pretax profit before
extraordinary items to JPY12.3 billion and the interest-bearing
debt/EBITDA to 9 times for fiscal 2006 ending March 31, 2007.
The earnings power of the group as a whole is now on the rise,
supported by reduced loss from Yokohama Bay Sheraton Hotel and
Towers and restructuring. Cost reductions will improve the
earnings continually, underpinned by earnings from railway and
real estate leasing businesses.

Earnings of Sotetsu Rosen, supermarket chain operator, has not
been strengthened enough as planned. Sagami Railway also failed
to spin off the bus operations in October 2004. JCR believes
that the interest-bearing debt will be reduced further in the
future, given the Company's focus on cutback on the capital
spending. Restructuring charges have been reducing the net
worth. JCR considers that Sagami Railway should raise the
competitive strength and improve the financial health without
delay.

CONTACT:

Sagami Railway Co Ltd
9-14, Kita-Saiwai 2-Chome
Nishi-Ku 220-0004, Yokohama 220-0004
Japan
Phone: +81 45 319 2072
Fax: +81 45 319 8989
Web site: http://www.sotetsu.co.jp/


SOJITZ HOLDINGS: American Unit Receives Order for Rail Cars
-----------------------------------------------------------
Sojitz Corporation of America, a U.S. subsidiary of Sojitz
Holdings Corporation, in partnership with the Hyundai Motors
group rolling stock manufacturer ROTEM Company (located in Seoul
Korea), has been awarded an order for thirty two new type diesel
rail cars, valued at approximately JPY10 billion, by the
Triangle Transit Authority (TTA) based in North Carolina in the
United States.

The diesel rail cars to be delivered by the Sojitz Group will
have the most advanced specifications, which are in compliance
with the latest American railroad standards and which respond to
US emission controls from the year 2008. It is planned that the
diesel rail cars will have a maximum speed of 125 km/h, and that
each car will have 80 seats. This project is subject to the BUY
AMERICA requirements, as it was funded by the US Federal
Government. The final assembly of the coaches will therefore be
carried out at the factory in Philadelphia City.

Triangle Transit Authority (TTA) is a public transportation
provider serving areas between the North Carolina State Capitol
Raleigh City, and Durham City and its surroundings, where Duke
University and the laboratories of many large companies are
concentrated. TTA originally specialized in passenger
transportation using buses.

However, as a result of conducting a detailed review of railway
development, which commenced in 1992 with funding from the U.S.
Federal Government and with the aim of developing a more
advanced public transportation network, a conclusion was reached
that more efficient railway transportation would become possible
through the operation of self-propelled diesel rail cars, which
require no electrical equipment or traction engines, using
existing rail tracks owned by the state railway. Approval in
principle was obtained for this from the U.S. Federal
Government. The cars, to be used on a 45km long rail line, are
scheduled to begin operation in 2008.

Since the undertaking of business in 1978, the number of rail
car orders the Sojitz Group has received from the US rail car
market has already exceeded eight hundred.

Large-scale orders have been received since the year 2000, such
as that received through a liaison with Mitsubishi Electric
Corporation and Canadian-based Bombardier Transportation, and
the recent order received through a liaison with Mitsubishi
Electric Corporation and US-based General Motors Corporation.

The Sojitz Group, together with ROTEM Company, has undertaken an
expansion of rail car sales since 2002. Results achieved in the
US by SOJITZ CORPORATION OF AMERICA in the field of railways,
and ROTEM's technical capabilities and price competitiveness
have been highly valued, leading to the successful first time
receipt of the large-scale order.

There are currently many plans in the U.S. to introduce new type
rail cars. Sojitz will continue its activities in an effort to
receive additional orders for various rail cars, as well as for
the diesel rail cars that are the subject of this order.

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: Net Loss Widens to JPY241 Bln
----------------------------------------------
Beleaguered Sojitz Holdings Corporation booked a group net loss
of JPY241.07 billion for the first half of fiscal 2004, up from
JPY17.51 billion, previously, Japan Today reports.

The losses are incurred from non-performing assets disposal and
unprofitable operations withdrawal.

The holding Company of struggling trading house Sojitz Corp said
it posted JPY25.76 billion in group pretax profit in April-
September, up 35.1%, helped by increased investment profits,
though sales fell 25.4% to JPY2,254.22 billion.

To view the consolidated financial results, click on:
http://bankrupt.com/misc/TCRAP_SOJITZHOLDINGS111704.pdf


TOSHIBA CORPORATION: Greater China Sales May Double in 2 Years
--------------------------------------------------------------
Toshiba Corporation projects its Greater China semiconductor
sales to reach JPY300 billion from JPY150 billion last year,
according to AFX News.

Toshiba China's public relations officer, Liu Yan, said Greater
China has been one of the world's fastest growing semiconductor
markets. The Company expects sales in the region to climb to
JPY600 billion in 2010.

Toshiba Chief Executive Okumura is hoping the region will
account for 30 percent of the firm's semiconductor business
compared by 2010.

In an earlier statement, Toshiba said Greater China will account
for around 40 percent of the global semiconductor market by
2010.

CONTACT:

Toshiba Corporation
1-1, Shibaura 1-chome, Minato-ku
Tokyo, 105-8001, Japan
Phone: +81-3-3457-4511
Fax: +81-3-3455-1631
Web site: http://www.toshiba.com


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


DAEWOO ENGINEERING: Creditors File Lawsuit On US$530-Mln Loan
-------------------------------------------------------------
Creditors of Daewoo Engineering & Construction Co. filed a
lawsuit for the repayment of a US$530-million loan on behalf of
a former affiliate, reports Asia Pulse.

A creditor-appointed manager of Daewoo America filed the lawsuit
in a New York district Court Monday.  According to the nine
creditors led by the Korean Asset Management Corp. (KAMCO),
Daewoo Engineering should pay the loan since it has obtained
"sound assets" from the divestiture of Daewoo Corp.

"As Daewoo Corp. has no ability to repay the debt, Daewoo E&C
should pay it back," a source said, adding "Daewoo E&C reaped
ill-gotten gains from the breakup."

But according to Daewoo Engineering, the legal action was a
total nonsense for when the creditors signed an agreement for
the split it also means they agreed to take the responsibility
for Daewoo Corp.'s debt.

"We will mobilize every legal means at home and abroad to deal
with the suit," a Daewoo E&C spokesperson said.  The legal
action made the efforts to sell Daewoo Engineering gloomy.

Daewoo America was left with the debt in 2000 when its parent
Company Daewoo Corp., the trading arm of the now-defunct Daewoo
Group, was split into three companies -- Daewoo Corp., Daewoo
E&C and Daewoo International.


HANARO TELECOM: Releases October 2004 Subscriber Number
-------------------------------------------------------
Hanaro Telecom Inc. unveiled in a U.S. Securities and Exchange
Commission filing the subscriber number for October 2004 filed
with the Korean Securities Dealers Association Automated
Quotation Market (KOSDAQ) on November 11, 2004.

2004 October Subscriber Numbers

(1) BROADBAND        Products         October (Unit: subscriber)

Residential          ADSL             977,595
                     Cable Modem      1,483,439
                     SUB-TOTAL        2,461,034

Corporate            ADSL             18,881
                     Cable Modem      1,184
                     SUB-TOTAL        20,065

                     VDSL              250,648
                     LMDS              21,501
                     Wireless LAN      34,350
TOTAL                                  2,787,598
NET ADDS                               1,249

(2) VOICE
                   Products          October (Unit: line)

                  Residential        832,758
                  Corporate          311,627
                  VoIP               184,857
TOTAL                                1,329,242
NET ADDS                             65,887

(3) LEASED LINE
                  Products          October (Unit: subscriber)

                  Leased line              3,376
                  Internet dedicated       2,831
                  LMDS(I/D)                    9
                  International Leased Line   46
TOTAL                                      6,262
NET ADDS                                      22

(4) GRAND TOTAL

TOTAL                                  4,123,102
NET ADDS                                  67,158

CONTACT:

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


HYNIX SEMICONDUCTOR: Inks Contract With STMicroelectronics
----------------------------------------------------------
Hynix Semiconductor Inc. forged a deal Tuesday with French-
Italian chipmaker STMicroelectronics to build US$2-billion chip
plant in China, says Asia Pulse.

In a statement to the Korea Stock Exchange, Hynix said the deal
will strengthen the strategic tie-up and long-term supply of
memory chips between the two companies.

Hynix and STMicroelectronics will each invest $500 million with
a Chinese Local government and financial institutions there for
a total of $1 billion in funding.  Hynix will hold 67 percent in
the venture, and STMicroelectronics will hold the rest.

Hynix and STMicroelectronics said the plant will produce dynamic
random-access memory, or DRAM, and NAND flash-memory chips. NAND
flash chips are used in electronic devices such as digital
cameras and MP3 players. DRAM chips are mostly in personal
computers.

Hynix targets to finish the construction of the chinese plant by
the end of next year and will start mass production in 2006.

CONTACT:

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


SK NETWORKS: Creditors to Sell Combined 15% Stake
-------------------------------------------------
SK Networks Co. Ltd. creditors are considering selling a
combined 15 percent stake in the Company, Reuters reports citing
a creditor official.

The sale is part of the creditors' efforts to recoup some of
their lending.  The stake sale would not affect the number of
shares in circulation for buyers of the stake would be tied to
an agreement made between creditors and SK Networks not to sell
to the market before the end of 2007, the creditor added.

The agreement, which is valid until the Company graduates from
the restructuring programme, is aimed at preventing the firm's
stock price from falling sharply in the event of the sale of
stakes held by creditors.

Shareholders of SK Networks Tuesday agreed to a proposed capital
reduction and share split which is also a part of the
restructuring plan.  SK is due to merge every 7 shares into 2,
reducing its share capital by 71.4 percent to 510.3 billion won.

A Company spokesman said trading in SK Networks' shares was due
to be suspended between December 16 and January 3 for the
capital reduction.

Creditors including state-run Korea Development Bank, Shinhan
Bank, a unit of Shinhan Financial Group, and Hana Bank own
nearly half of the firm.

SK Corp. South Korea's top oil refiner and the de-facto holding
Company of the SK Group, South Korea's fourth-biggest
conglomerate, is the biggest shareholders with a 50 percent
stake.

A $1.2 billion accounting scandal brought SK Networks on the
verge of bankruptcy early last year.  It has been under a
creditor-led restructuring programme since then.

CONTACT:

SK Networks Co.
Head Office
199-15, Euljiro-2Ga,
Jung-Gu, Seoul,
Korea 100-192,
Telephone: 82-2-2221-2114
Fax: 82-2-754-9414
E-mail: webmaster@sknetworks.co.kr


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


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

Date of buy back from: 03/11/2004

Date of buy back to: 05/11/2004

Total number of shares purchased (units): 87,100

Minimum price paid for each share purchased (RM): 0.745

Maximum price paid for each share purchased (RM): 0.795

Total amount paid for shares purchased (RM): 65,781.95

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

Number of shares purchased retained in treasury (units): 87,100

Total number of shares retained in treasury (units): 5,295,700

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

Total issued capital as diminished:

Date lodged with registrar of companies: 10/11/2004

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

CONTACT:

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


EKRAN BERHAD: Releases Amended 1H/FY04 Financial Statements
-----------------------------------------------------------
Ekran Berhad issued an erratum in respect of the audited
financial statements of the Company for the year ended 30 June
2004, which was submitted to Bursa Malasia Securities Berhad on
29 October 2004.

For a copy of the amended financial results, go to
http://bankrupt.com/misc/tcrap_ekran110904.pdf

CONTACT:

Ekran Berhad
Jalan Parlimen
Kuala Lumpur, SARAWAK 50480
Malaysia
Phone: +60 82 236908
Fax: +60 82 236922


GOLDEN PLUS: Answers Bursa Malaysia Query
-----------------------------------------
Golden Plus Holdings Berhad responded to the Bursa Malaysia
Securities Berhad's query letter dated 12 November 2004
regarding the unusual market activity of its securities.

The Company announced that there has been no material or recent
development in the business and affairs of GPHB which had not
been previously disclosed and it is not aware of any rumor or
report (whether true or false) which contains information which
might likely to have an effect on the trading of GPHB
securities.

Bursa Malaysia Securities Berhad Query Letter content:

We draw your attention to the sharp increase in price and volume
in your Company's shares recently.

In accordance with the Corporate Disclosure Policy on Response
To Unusual Market Activity pursuant to paragraph 9.11 of the
Listing Requirements of Bursa Malaysia Securities Berhad (Bursa
Securities LR), you are requested to furnish Bursa Securities
with an announcement for public release after a due enquiry
seeking the cause of the unusual market activity in the
Company's securities. When considering your response and when
making the required announcement, your attention is particularly
drawn to the continuing disclosure requirements set out in
Chapter 9 of the Bursa Securities Listing Requirements.

The announcement is to reach Bursa Securities within one market
day from the date hereof via Bursa Link.

Yours faithfully,
JOSEPHINE EDWARD
Sector Head, Listing Compliance
Group Regulations

CONTACT:

Golden Plus Holdings Berhad
Suite 6.02 Level 6 Wisma E & C
2 Lorong Dungun Kiri
Damansara Heights
50490 Kuala Lumpur
Phone: 03-20923311
Fax: 03-20947788

This announcement is dated 12 November 2004


KUB MALAYSIA: Swings to Black with RM34.46 Mln Net Profit
---------------------------------------------------------
KUB Malaysia Bhd incurred a net profit of RM34.46 million for
the nine months ended September 30, 2004, versus a net loss of
RM36.37 million a year earlier, the Edge reports.

Revenues for the period increased to RM562 million from RM414.4
million previously, on the back of improved contribution from
its property, engineering and construction, information and
communications technology, and liquefied petroleum gas
divisions.

For the September quarter, KUB's revenue improved by 42 percent
to RM202.49 million from RM142.93 million a year earlier. It
posted a pre-tax profit of RM317,000 for the quarter, against a
pre-tax loss of RM6.90 million a year earlier.


LATEXX PARTNERS: To Issue 78.59 Mln Shares To Pare Debts
--------------------------------------------------------
Latexx Partners Bhd has proposed a restricted issue of 78.59
million shares of RM1 each as part of its debt settlement and
fund-raising exercise, the Edge reports.

The Company will issue up to 22.48 million and 51.11 million
restricted shares with the warrants to trade creditors and
financial institution creditors respectively. Up to five million
restricted shares will be issued to public investors to be
identified.

Latexx said the debt-equity conversion of the trade debts and
bank borrowings would effectively reduce its debt to RM15.44
million. Its total debt as of Aug 31 stood at RM90.89 million,
of which RM75.45 million was owing to scheme creditors.

CONTACT:

Plot 5054 Kamunting Industrial Estate
Jalan Perusahaan 3
34600 Kamunting, Perak
Phone: 05-8915555
Fax: 05-8912688
Web site: http://www.latexx.com.my


MTD CAPITAL: Purchases 440,000 Ordinary Shares on Buy Back
----------------------------------------------------------
MTD Capital disclosed to the Bursa Malaysia Securities Berhad
the details of its shares buy back on November 11, 2004.

Date of buy back: 10/11/2004

Description of shares purchased:  Ordinary shares of RM1/- each

Total number of shares purchased (units): 440,000

Minimum price paid for each share purchased (RM): 2.600

Maximum price paid for each share purchased (RM): 2.630

Total consideration paid (RM): 1,145,584.00

Number of shares purchased retained in treasury (units): 440,000

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

Cumulative net outstanding treasury shares as at to-date
(units): 5,249,600

Adjusted issued capital after cancellation (no. of shares)
(units): 0

CONTACT:

MTD Capital Berhad
Batu 8 Jalan Batu Caves
Lot 8359 Mukim of Batu
Batu Caves, Selangor Darul Ehsan 68100
Malaysia
Telephone: +60 3 6189 9022
           +60 3 6187 7898
Web site: http://www.mtdcap.com/


MYCOM BERHAD: Scheme of Arrangement Hearing Set November 30
-----------------------------------------------------------
The Board of Directors of Mycom Berhad announced that the
hearing date for the petition to consider the proposed Mycom
Scheme of Arrangement under the Proposed Restructuring Scheme
has been fixed on 30 November 2004.

The advertisement of the hearing of the petition will be made in
the local newspapers namely, the STAR, Berita Harian and Sin
Chew Daily two (2) weeks before the hearing of the petition.

CONTACT:

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


OLYMPIA INDUSTRIES: Updates Capital Reduction Exercise
------------------------------------------------------
The Board of Directors of Olympia Industries Berhad announced
that the hearing date for the petition to consider the proposed
capital reduction under the Proposed Restructuring Scheme has
been fixed on 30 November 2004.

The advertisement of the hearing of the petition will be made in
the local newspapers namely, the STAR, Bertia Harian and Sin
Chiew Daily two (2) weeks before the hearing of the petition.

CONTACT:

Olympia Industries Berhad
No 8 Jalan Raja Chulan
Kuala Lumpur, 50200
Malaysia
Phone: +60 3 2070 0033
Fax: +60 3 2070 0011


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 BMSB that it has on 12 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:

Name of Director: Mr. Wong Sewe Wing (Executive Director)

Direct Interest No. of Shares (%): 627,100 (0.52)

Indirect Interest No. of Shares (%): 30,960,960 (25.54)

Direct Interest No. of Warrants (%): Nil

Indirect Interenst No. of Warrants (%): 16,481,000 (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 12 November 2004.


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


BENPRES HOLDINGS: Narrows 3Q/FY04 Net Loss to Php292 Mln
--------------------------------------------------------
Benpres Holdings Corporation posted a net loss of PhP292 million
in the nine months ended September, versus a net loss of
PhP1.145 billion a year earlier, reports the Business World.

The Company is unloading its non-core businesses, including its
shareholdings in Central CATV's Sky Cable as part of its
rationalization program.

Benpres reported its cost of sales and services in the first
nine months rose 15 percent on year to PHP3.31 billion, but
didn't provide actual comparative data.

CONTACT:

Benpres Holdings Corporation
4/F, Benpres Building
Exchange Road corner Meralco Avenue
Ortigas Center, Pasig City
Phone No:  633-3368
Fax No:  634-3009
E-mail Address: jr_benpres@bayantel.com.ph
Web site:  http://www.benpres-holdings.com
Auditor:  SyCip, Gorres, Velayo & Company
Transfer Agent:  Securities Transfer Services, Inc.


NATIONAL POWER: To Bid Out Oil, Coal Requirements
-------------------------------------------------
The National Power Corporation (Napocor) will bid out Friday its
oil requirements for the first two months of 2005, Yehey Finance
reports.

The state-owned utility said it would bid out 124,471 kiloliters
of bunker fuel and 21,031 kiloliters of diesel fuel to cover
fuel requirements from January and February 2005.

The power firm is expected to pay an estimated of P1.5 billion
for its bunker fuel and Php481 million for diesel requirements.

The report added that oil firms Caltex (Philippines) Inc.,
Filpride Energy Corp., Petron Corp., Pilipinas Shell Petroleum
Corp. and Subic Bay Distribution Inc. would be participating in
the bidding.

CONTACT:

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


NATIONAL POWER: Aboitiz Clarifies Bid Report
--------------------------------------------
This is in reference to the news article entitled "Aboitiz group
rethinking plan to bid for Napocor's Masinloc power plant"
published in the November 16, 2004 issue of the BusinessWorld
(Internet Edition).

The article reported that "(t)he Aboitiz group may not
participate in this month's bidding for one of the biggest
assets of the National Power Corp. (Napocor) with government
sticking to its decision not to guarantee that the winning
bidder will have buyers of power from the plant. Aboitiz Equity
Ventures (AEV) Executive Vice-President and Chief Operations
Office (sic) Erramon I. Aboitiz said it will be `too much of a
risk' for the holding Company to join the bid for the 600-
megawatt Masinloc coal-fired power plant without a transition
supply contract. `We are debating whether we will participate.
We are a little uncomfortable about the fact that the plant will
come without a transition supply contract. While the WESM
(wholesale electricity spot market) is not yet developed, we
feel that it might be too much of a risk at this point in time
to bid for plants which do not have contract,' Mr. Aboitiz
said."

Aboitiz Equity Ventures, Inc. (AEV), in its letter to the
Philippine Stock Exchange dated November 16, 2004, stated that:

" AEV still has not made any decision whether to participate or
not in the bid for the Masinloc coal-fired power plant of the
National Power Corporation. Nothing has been discussed by AEV's
Board of Directors as regards this matter. "

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


PHILIPPINE LONG: Post Changes in Beneficial Securities
------------------------------------------------------
In compliance with Section 13 of the Revised Disclosure Rules of
the Philippine Stock Exchange, The Philippine Long Distance
Telephone Co. announced the changes that have taken place in the
shareholdings of Mr. Manuel V. Pangilinan on 16 November 2004.

Statement of Changes in Beneficial Ownership of Securities

Name: Manuel V. Panganiban
Position: Chairman of the Board

Date of Transaction: Nov. 16, 2004

No. of Shares Acquired: 1,000

No. of Shares Disposed: -

Price: Php1,320.00

No. of Shares Beneficially Owned: 86,874


CONTACT:

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


PHILIPPINE LONG: Clarifies HomeCable Acquisition Report
-------------------------------------------------------
This is in reference to the news article entitled "Sky Cable
formally acquires Home Cable" published in the November 11, 2004
issue of The Philippine Star (Internet Edition).

According to the article, "Lopez-owned Sky Cable Central CATV
has acquired Home Cable, a Company owned by the Philippine Long
Distance Telephone Co. (PLDT), for a net asset value of P1
billion, STAR sources revealed on Monday. PLDT chairman Manuel
V. Pangilinan also confirmed to The STAR that Home Cable has
indeed transferred its assets and liabilities to Sky Cable, for
which PLDT will be paid in shares of stocks valued at around P1
billion in Central CATV."

Philippine Long Distance Telephone Company (TEL), in its letter
to the Philippine Stock Exchange dated November 16, 2004, stated
that:

" We confirm that in connection with the debt restructuring of
the Philippine Home Cable, Inc. (Home Cable) and Central CATV,
Central CATV has absorbed the assets and liabilities of Home
Cable. The total liabilities of Home Cable assumed by Central
CATV, including the restructured loans, amounted to P2.386
billion, giving a net asset of P236 million absorbed by Central
CATV. Home Cable is owned by Unilink Communications Corporation,
a wholly owned subsidiary of Mediaquest Holdings, Inc.
(Mediaquest) which is an investee Company of PLDT Beneficial
Trust Fund."

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


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


ALLGREEN PROPERTIES: Issues, Allots Ordinary Shares
---------------------------------------------------
Allgreen Properties Limited announced the issue and allotment of
an aggregate of 5,000 ordinary shares of SG$0.50 each in the
capital of the Company, at the subscription price of SG$0.95
each, pursuant to the exercise of options granted under the
Allgreen Share Option Scheme 2002.

These new shares have been listed and quoted on the Singapore
Exchange on 10 November 2004.

The new shares issued will rank pari passu in all respects with
the existing shares of the Company. Upon the issue of the new
shares, the number of issued and paid-up shares in the capital
of the Company is increased to 1,051,215,000 ordinary shares of
SG$0.50 each.

Submitted to the Singapore Stock Exchange on November 16, 2004.


DATACRAFT ASIA: Unveils 3Q Financial Results
--------------------------------------------
Datacraft Asia posted a deeper net loss in the fourth quarter.

The exceptional items consist of goodwill write-off and asset
impairment, staff retrenchment and write off of plant and
equipment.

                   Three months to September 30, 2004
                    (in millions of US$ unless stated)
                                 Q4 2004      Q4 2003
Operating profit/(loss)            3.06   vs    2.79
Exceptional items                (13.45)  vs   (0.24)
Pre-tax profit/(loss)            (11.28)  vs    1.80
Net profit/(loss)                (12.48)  vs   (0.71)
Group shr (cents)                 (2.68)  vs   (0.15)
Turnover                          95.59   vs   86.18
                                    2004         2003
Operating profit/(loss)            9.09   vs    3.67
Exceptional items                (13.45)  vs  (11.95)
Pre-tax profit/(loss)             (8.14)  vs  (12.23)
Net profit/(loss)                (11.89)  vs  (16.11)
Group shr (cents)                 (2.55)  vs   (3.47)
Turnover                         362.28   vs  328.73
Dividend (pct)                     nil    vs    nil


To view the entire document click on:
http://bankrupt.com/misc/tcrap_datacraft111704.pdf


DAVNET SINGAPORE: Issues Notice of Intended Dividend
----------------------------------------------------
Davnet Singapore Pte Ltd, in creditors' voluntary liquidation,
posted its intended divided notice at the Singapore Stock
Exchange.

Address of Registered Office: c/o 8 Cross Street
#11-00 PWC Building
Singapore 048424

Last Day for Receiving Proofs: 26 November 2004

Name of Liquidator: Goh Thien Phong

Address: c/o PricewaterhouseCoopers
8 Cross Street
#17-00 PWC Building
Singapore 048424

This Singapore Government Gazette notice is dated November 12,
2004.


GOODWOOD PARK: Posts Change In Shareholder's Interest
-----------------------------------------------------
Goodwood Park Hotel Ltd released a notice on November 13, 2004
at Singapore Stock Exchange pertaining to the change in the
Percentage Level of a Substantial Shareholder's Interest of

Part I

(1) Date of notice to issuer: November 12, 2004

(2) Name of Director: Khoo Kim Geok Jacqueline

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

Part II

(1) Date of change of Interest: November 10, 2004

(2) Name of Registered Holder Please refer to the Appendix
attached

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

- Please specify details Acceptances by shareholders of Goodwood
Park Hotel Limited (GPHL) of the offer for GPHL shares made on 5
November 2004 by Dumont Pte. Ltd. in connection with the
voluntary de-listing of GPHL

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

No. of Shares held before the change 40,137,977
As a percentage of issued share capital 93.36 %

No. of Shares which are subject of this notice 66,589
As a percentage of issued share capital 0.16 %

Amount of consideration (excluding brokerage and stamp duties)
per share paid or received 53.53

No. of Shares held after the change 40,204,566
As a percentage of issued share capital 93.52 %

Part III

(1) Date of change of Interest

(2) The change in the percentage level From % To %

(3) Circumstance(s) giving rise to the interest or change in
interest [Select Option]
- Please specify details

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

Part IV

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

                                            Direct       Deemed
No. of shares held before the change        39,800   40,098,177
As a percentage of issued share capital       0.09%       93.27%
No. of shares held after the change         39,800   40,164,766
As a percentage of issued share capital       0.09%       93.43%

Submitted by:
David Poh Tze Keong
Company Secretary


GOODWOOD PARK: Notes Change in Shareholder's Interest
-----------------------------------------------------
Goodwood Park Hotel Ltd released a notice on November 13, 2004
at Singapore Stock Exchange pertaining to the change in the
Percentage Level of a Substantial Shareholder's Interest.

Part I

(1) Date of notice to issuer: November 12, 2004

(2) Name of Director: Khoo Kim Hai Eric

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

Part II

(1) Date of change of Interest: November 10, 2004

(2) Name of Registered Holder Please refer to the Appendix
attached

(3) Circumstance(s) giving rise to the interest or change in
interest: Others
- Please specify details Acceptances by shareholders of Goodwood
Park Hotel Limited (GPHL) of the offer for GPHL shares made on 5
November 2004 by Dumont Pte. Ltd. in connection with the
voluntary de-listing of GPHL

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

No. of Shares held before the change 40,194,287
As a percentage of issued share capital 93.49 %

No. of Shares which are subject of this notice 66,589
As a percentage of issued share capital 0.16 %

Amount of consideration (excluding brokerage and stamp duties)
per share paid or received 53.53

No. of Shares held after the change 40,260,876
As a percentage of issued share capital 93.65 %

Part III

(1) Date of change of Interest

(2) The change in the percentage level From % To %

(3) Circumstance(s) giving rise to the interest or change in
interest [Select Option]
- Please specify details

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

Part IV

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

                                             Direct      Deemed
No. of shares held before the change         97,478   40,096,809
As a percentage of issued share capital        0.22%      93.27%
No. of shares held after the change          97,478   40,163,398
As a percentage of issued share capital        0.22%      93.43%

Submitted by:
David Poh Tze Keong
Company Secretary


ROAD DYNAMICS: Posts Notice of Dividend
---------------------------------------
Road Dynamics Pte Ltd. posted its notice of dividend notice at
the Singapore Government Gazette on November 12, 2004.

Address of Registered Office: Formerly of 220 Orchard Road
#05-01 Midpoint Orchard
Singapore 238852

Court: Supreme Court, Singapore

Number of Matter: Companies Winding Up No. 218 of 1999

Amount Per Centum: 16.40%

First and Final or otherwise: First & Final Dividend

When Payable: 3 November 2004

Where Payable: The Official Receiver
The URA Centre (East Wing)
45 Maxwell Road #06-11
Singapore 069118

Kamala Ponnampalam
Assistant Official Receiver


THL FOOD: Court Issues Winding Up Order
---------------------------------------
In the matter of THL Food Holdings Pte Ltd., a Winding Up Order
was made on the 5th day of November 2004.

Name and address of Liquidator: Don Ho Mun Tuke
Messrs Don Ho & Associates
20 Cecil Street
#12-02 & 03 Equity Plaza
Singapore 049705.

Messrs Rajah & Tann
Solicitor for the Petitioner
No. 4 Battery Road
#15-01 Bank of China Building
Singapore 049908

This Singapore Government Gazette notice is dated November 12,
2004.


QUEE WAH: Releases Notice of Dividend
-------------------------------------
Quee Wah Ming Pte Ltd. posted its dividend notice at the
Singapore Government Gazette on November 12, 2004.

Address of Registered Office: Formerly of 51 Thomson Road
171A Goldhill Centre
Singapore 307622

Court: Supreme Court, Singapore

Number of Matter: Companies Winding Up No. 600339 of 2001

Amount Per Centum: 72.5%

First and Final or otherwise: First & Final Dividend

When Payable: 3 November 2004

Where Payable: The Official Receiver
The URA Centre (East Wing)
45 Maxwell Road #06-11
Singapore 069118

Sunari Bin Kateni
Assistant Official Receiver


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


ASIA HOTEL: SET Posts SP Sign on Securities
-------------------------------------------
Asia Hotel Public Company Limited (ASIA) publicly submitted to
the Stock Exchange of Thailand (SET) its third quarterly
reviewed financial statement ending September 30, 2004.

Since the auditor was unable to reach any conclusion on the
captioned financial statement, this could be considered that the
financial statements do not reflect the actual business
performance.  Hence, the Securities and Exchange Commission
(SEC) would require the financial statement amendment.

As a result, the SET has posted SP sign for suspended trading on
the Company's security effective from the second trading of
November 15, 2004 to enable shareholders and general investors
to have sufficient time to scrutinize auditor's report relating
to the result in financial statement including the Company's
clarification.

The SET will post NP sign effective from the first trading of
November 16, 2004 until such time as the Company will submit the
amended financial statement or it is concluded that such
amendment are not necessary.

However, the SET has still suspended trading all securities of
the aforementioned companies until the causes of delisting are
eliminated.

CONTACT:

Asia Hotel Public Company Limited
296 Phayathai Road, Phaya Thai Bangkok
Telephone: 0-2215-0808
Fax: 0-2215-4360
Web site: www.asiahotel.co.th


KRUNG THAI: Clarifies Operating Results for 3Q/FY04
---------------------------------------------------
Krung Thai Bank Public Company Limited submitted to the Stock
Exchange of Thailand (SET) its reviewed Financial Statements
ended September 30, 2004.

The Bank's results for the nine-month ended September 30, 2004
showed a net income before allowance for bad debt and doubtful
accounts and loss on debt restructuring of THB14,120.43 million,
an increase of THB4,599.65 million or 48.31 percent from the
corresponding period of previous year.

After deducting THB3,560.24 million of an allowance for bad debt
and doubtful accounts and loss on debt restructuring, it showed
a net profit of THB10,560.19 million, an increase of THB4,580.74
million or 76.61 percent from the corresponding period of
previous year was noted.

The results included an increase in net interest and dividend
income of THB7,400.63 million or 44.50 percent, an increase in
non-interest income of THB1,815.99 million or 37.08 percent, and
an increase in non-interest expenses of THB4,616.97 million or
38.46 percent.

The Bank's results for the three-month ended September 30, 2004
showed a net income before allowance for bad debt and doubtful
accounts and loss on debt restructuring of THB4,103.61 million,
a decrease of THB288.18 million or 6.56 percent from the
corresponding period of previous year.

After deducting THB309.14 million of an allowance for bad debt
and doubtful accounts and loss on debt restructuring, it showed
a net income of THB3,794.47 million, a decrease of THB597.32
million or 13.60 percent from the corresponding period of
previous year was noted.

The results included an increase in net interest and dividend
income of THB2,312.99 million or 39.35 percent, increase in non-
interest income of THB101.84 million or 5.54 percent, and an
increase in non-interest expenses of THB2,703.01 million or
81.31 percent.

The Bank's non-performing loans (NPLs) as on September 30, 2004
was THB124,796.69 million (12.39 percent of total loans before
allowance for bad debt and doubtful accounts), a decrease of
THB900.45 million from THB125,697.14 million as at June 30, 2004
(12.29 percent of total loans before allowance for bad debt and
doubtful accounts).

Sincerely yours,
Krung Thai Bank Public Co., Ltd.
Mr.Apisak Tantivorawong
President

CONTACT:

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


NFC FERTILIZER: Releases 3Q Reviewed, Consolidated FS
-----------------------------------------------------
NFC Fertilizer Public Company Limited submitted to the Stock
Exchange of Thailand (SET) its reviewed quarterly financial
statements.

NFC Fertilizer Public Company Limited
Reviewed Ending September 30 (In thousands)

                     Quarter 3            For 9 Months
Year               2004        2003      2004        2003

Net profit
(loss)       11,378,579    (499,796)     6,964,474  (1,599,187)

EPS (baht)   45.76         (0.38)        8.68       (1.22)

Type of report: Unqualified Opinion with an emphasis of matters

Comment: (1) Please see details in financial statements,
auditor's report and remarks from SET Information Management
System.

"The Company hereby certifies that the information above is
correct and complete. In addition, the Company has already
reported and disseminated its financial statements in full via
the SET Electronic Listed Company Information Disclosure
(ELCID), and has also submitted the original report to the
Securities and Exchange Commission."

(Mr.Wiboon Rasmeepaisarn)
Vice President (Finance and Accounting)
Authorized to sign on behalf of the Company

For more information, click
http://bankrupt.com/misc/nfce1.doc
http://bankrupt.com/misc/nfce2.xls
http://bankrupt.com/misc/nfce3.doc

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
Web site: www.nfc.co.th


SAHAMITR PRESSURE: Unveils 3Q Operating Result
----------------------------------------------
Sahamitr Pressure Container Public Company Limited submitted to
the Stock Exchange of Thailand (SET) its operating result for
the third quarter of 2004.

The operating performance for the three-month period ended
September 30, 2004 and 2003.

The reasons of the variant of the Company's operating
performance compared to the same period of prior year are:

(1) Sales were increased due to the expanding of both domestic
and export market.

Selling price in average is adjusted in response to the raw
material price increase.

(2) Total revenues was increased due to the sales increase as
described in No. 1

(3) Cost of sales was increased in respects to the sales whereas
cost of raw materials has been continuously increased according
to general business condition.

(4) Operating expenses were increased mainly due to freight-out
cost and commission according to sales increased.

(5) Interest expenses in Profit & Loss Statement were increased
due to the undertaking of new loans to clear some portion of
debts prior due date and of the new working capital.

As to the actual interest expenses resultant from the debt-
restructuring plan of three-month period ended September 30,
2004 total THB3.05 million and the same period of prior year
total THB4.46 million, is debited in total debts of the Balance
Sheet in order to conform to the Generally Accepted Accounting
Principles.

The decrease of actual interest expenses is caused by debts
clearing prior due date, debts repayment by due date resultant
in less principal.  However, total interest expenses were a
litter bit higher than that of 2003.

CONTACT:

Sahamitr Pressure Container Public Company Limited
72/9 Moo 7, Rama Ii Road,
Samaedam, Bang Khun Thain Bangkok
Telephone: 0-2895-4139-58, 0-2416-5568-9
Fax: 0-2416-5534, 0-2895-4163
Web site: www.smpcplc.com


SINO-THAI: Submits Reviewed Financial Statements to SET
-------------------------------------------------------
Sino-Thai Resources Development Public Company Limited submitted
to the Stock Exchange of Thailand (SET) its reviewed Financial
Statements for the nine-month period ended September 30, 2004.

The Company's performance showed in the third quarter ended
September 30, 2004, the Company had to net profit THB2.63
million compared to the same period last year net loss of
THB1.87 million which meant that the Company had increased
profit by THB4.50 million. The following are the details:

- The Company had total revenue of THB192.22 million which
increased from the same period of the last year of THB180.46
million or was equal to 1,534.85 percent, which mainly realized
from construction stone sales of THB3.95 million and from oil
trading business of THB182.01 million.

- The Company had total expenses of THB189.49 million which
increased from the same period of last year of THB176.02 million
or was equal to 1,307.10 percent, which mainly incurred from
Cost of construction stone sales of THB3.67 million, Cost of
fuel sales of THB176.0 million and Selling and administrative
expenses of THB2.38 million.

In addition, the Company's performance showed in the nine-month
period ended September 30, 2004 the Company had total revenue of
THB403.27 million increased from the same period of the last
year of THB119.98 million by THB283.29 million.  Excluding
profit from asset transferring under debt restructuring with the
bank of THB87.86 million of last year, the Company's revenue had
increased by THB371.15 million or was equal to 1,155.80 percent,
which mainly realized from construction stone sales of Baht 9.09
million and from oil trading business of THB374.29 million.

However, the Company had total expenses of THB402.39 million
which increased from the same period of the last year of
THB41.35 million by THB361.04 million or was equal to 873.02
percent.  The Company's performance showed in nine-month period
of 2004 represented net profit THB0.41 million compared to net
profit of THB184.74 million in the nine-month period of 2003.
Excluding profit from the asset transferring and profit from
debt restructuring the same period of 2003 of THB196.46 million,
the Company had net loss of THB11.72 million which meant that
the profit increased by THB12.13 million.

Sincerely yours,
Umyos Huvanandana
Managing Director

CONTACT:

Sino-Thai Resources Development Public Co., Ltd.
Shinawatra Thai Tower, Floor 7, Zone A,
626 Rama Iv Road, Mahapruttharam, Bang Rak Bangkok
Telephone: 0-2633-0088
Fax: 0-2633-0008


SYNTEC CONSTRUCTION: Releases 3Q Reviewed, Consolidated FS
----------------------------------------------------------
Syntec Construction Public Company Limited submitted to the
Stock Exchange of Thailand its reviewed quarterly financial
statements with the following details.

Syntec Construction Public Company Limited
Reviewed Ending September 30 (In thousands)

                         Quarter 3               For 9 Months
Year                2004        2003          2004        2003

Net profit (loss)  (26,568)     6,385       (9,701)     200,384

EPS (baht)        (0.01)        0.02        (0.01)        0.57

Comment: (1) Please see details in financial statements,
auditor's report and remarks from SET Information Management
System.

"The Company hereby certifies that the information above is
correct and complete.  In addition, the Company has already
reported and disseminated its financial statements in full via
the SET Electronic Listed Company Information Disclosure
(ELCID), and has also submitted the original report to the
Securities and Exchange Commission."

(Mr.Somchai Sirilertpanich)
Director
Authorized to sign on behalf of the Company

For more information, click
http://bankrupt.com/misc/syntece1.doc
http://bankrupt.com/misc/syntece2.xls
http://bankrupt.com/misc/syntece3.doc

CONTACT:

Syntec Construction Public Company Limited
555/7-11 Sukhumvit 63 Road,
Khlong Ton Nua, Wattana, Bangkok
Telephone: 0-2381-6333-4, 0-2381-6337, 0-2381-6339
Fax: 0-2381-6330


TANAYONG: SP Sign Posted on Securities
--------------------------------------
Tanayong Public Company Limited has submitted to the Stock
Exchange of Thailand (SET) its reviewed financial statements for
the period ending
30 September 2004.

As the Company's auditor was unable to reach any conclusion on
the financial statement, it can be considered that the numbers,
which represent the Company's financial status and operating
outcome as presented in their financial statement, failed to
adequately and/or properly reflect the actual position of the
Companies.

Due to these discrepancies, the Securities and Exchange
Commission (SEC) is considering requiring that the Company amend
their financial statements on the issues raised by the auditor.

Therefore, the SET has posted an SP (Suspension) sign to suspend
trading on the securities of the Company on 16 November 2004
to enable shareholders and general investors to have sufficient
time to scrutinize an auditors' report on the review of its
financial statements.

However, the SET will post an NP (Notice Pending) sign on 17
November 2004 until the Company has the opportunity to submit
its amended financial statements or the SEC concludes that it
will not be necessary to amend the financial statement.

The SET has still suspended trading on the securities of
Tanayong PCL in view of the fact that the Company must prepare a
rehabilitation plan.

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 ELECTRONIC: Posts 3Q Reviewed, Consolidated FS
---------------------------------------------------
Thai Electronic Industry Public Company Limited disclosed to the
Stock Exchange of Thailand (SET) reviewed quarterly financial
statements as follows.

Thai Electronic Industry Public Company Limited
Reviewed Ending September 30 (In thousands)

                       Quarter 3               For 9 Months
Year                2004        2003          2004        2003

Net profit
(loss)         (10,625)    (28,750)      (51,011)    (27,068)
EPS
(baht)         (0.29)      (0.87)        (1.40)      (1.42)

Type of report: Unqualified Opinion with an emphasis of matters

Comment: (1) Please see details in financial statements,
auditor's report and remarks from SET Information Management
System.

"The Company hereby certifies that the information above is
correct and complete. In addition, the Company has already
reported and disseminated its financial statements in full via
the SET Electronic Listed Company Information Disclosure
(ELCID), and has also submitted the original report to the
Securities and Exchange Commission."

CONTACT:

Thai Electronic Industry Pcl
1/10 Moo 4, Bangchan Industrial Estate,
Bang Kapi, Bangkok
Telephone: 0-2517-1276-8, 0-2517-1936
Fax: 0-2517-1937, 0-2518-1471


THAI ENGINE: SET Posts SP Sign on Securities
--------------------------------------------
Thai Engine Manufacturing Public Company Limited (TEM) has
publicly submitted to the Stock Exchange of Thailand (SET) its
third quarterly reviewed financial statements ending September
30, 2004.

Since the auditor was unable to reach any conclusion on the
captioned financial statement, this could be considered that the
financial statements do not reflect the actual business
performance.  Hence, the Securities and Exchange Commission
(SEC) would require the amendment of the financial statement of
the Company.

The SET has posted SP sign for suspended trading on the
securities from the first session of November 16, 2004 to enable
shareholders and general investors to have sufficient time to
scrutinize the auditors' report relating to the results in
financial statements.

The SET has still suspended trading on the securities of TEM
until the causes of delisting are eliminated.

CONTACT:

Thai Engine Manufacturing Pcl
Alfa Bldg, Floor 8-12,69/8-12
Vibhavadi Rangsit Road, Phaya Thai Bangkok
Telephone: 0-2644-4151-75
Fax: 0-2644-4181-2
Web site: www.thaiengine.com


TONGKAH HARBOUR: Unveils 3Q Reviewed, Consolidated FS
-----------------------------------------------------
Tongkah Harbour Public Company Limited submitted to the Stock
Exchange of Thailand (SET) its reports reviewed quarterly
financial statements with the following details.

Tongkah Harbour Public Company Limited
Reviewed Ending September 30 (In thousands)

Quarter 3               For 9 Months
Year        2004        2003          2004        2003

Net profit
(loss)      (17,023)    (9,580)      (45,602)    (31,299)

EPS (baht)   (0.03)      (0.02)        (0.09)      (0.07)

Type of report: Unqualified Opinion with an emphasis of matters

Comment: (1) Please see details in financial statements,
auditor's report and remarks from SET Information Management
System.

"The Company hereby certifies that the information above is
correct and complete. In addition, the Company has already
reported and disseminated its financial statements in full via
the SET Electronic Listed Company Information Disclosure
(ELCID), and has also submitted the original report to the
Securities and Exchange Commission."

(Mr.Ronald Ng Wai Choi)
Managing Director
Authorized to sign on behalf of the Company

For more information, click
http://bankrupt.com/misc/thle1.doc
http://bankrupt.com/misc/thle2.xls
http://bankrupt.com/misc/thle3.doc

CONTACT:

Tongkah Harbour Public Company Limited
Muang Thai Phatra Office Tower 1,
Floor 7, 252/11 Rachadapisek Road,
Huai Khwang Bangkok
Telephone: 0-2695-4912-28
Fax: 0-2695-4901






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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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