TCRAP_Public/041119.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                     A S I A   P A C I F I C

             Friday, November 19, 2004, Vol. 7, No. 230

                            Headlines

A U S T R A L I A

CLARIFY ASIA: To Declare Final Dividend
DESIGN STAINLESS: Court Issues Winding Up Order
FOREST WAT: To Declare Final Dividend on November 30
GROUP ONE: Voluntarily Winds Up
JAMES HARDIE: Welcomes Asbestos Legal Costs Review

LIMOUSINES FOR ALL: To Voluntarily Wind Up
MARIC INSTALLATION: Appoints Riad Tayeh as Liquidator
MAYNE GROUP: Moody's Assigns (P) Ba1 To Senior Unsecured Notes
MITSUBISHI AUSTRALIA: Recalling Magna, Verada Sedans
M&L MCGUIRE: Receives Winding Up Order

PLATINUM PROPERTY: To Face Winding Up Process
PONHIN PTY: Sets November 30 as Date of Final Meeting
PRIMELIFE CORPORATION: To Undertake AU$60-Mln Capital Raising
RADD CITY: Enters Winding Up Proceedings
RADD PTY: To Undergo Winding Up Process

ROBERSON CONSTRUCTIONS: Placed in Members Voluntary Liquidation
VASCO DEZYN: To Face Winding Up Proceedings
VILLAGE ROADSHOW: To Convene AGM on November 26
WIRTHLIN WORLDWIDE: Winds Up Voluntarily
XXL IMAGES: Joint Meeting Slated for November 22


C H I N A  &  H O N G  K O N G

A' BIO: Court Issues Bankruptcy Order
ARCON TECH: Unveils 3Q Financial Results
BANK OF CHINA: Launches Workforce Overhaul
DICK'S METAL: Bankruptcy Order Made
DONPOWER TRADING: Winding Up Petition Hearing Set December 15

ELITE FINE: Faces Bankruptcy Proceedings
HONGKONG ASSOCIATED: Posts Bankruptcy Notice
JOINTEK CONSULTANTS: Court to Hear Winding Up Petition Dec. 22
TAI FAT: Serves Bankruptcy Notice


I N D O N E S I A

ASIA PULP: To Build US$1.9-Bln Paper Plant in China
BANK PERMATA: PPA Bullish on 20% Stake Sale


J A P A N

MATSUSHITA ELECTRIC: Develops New Vacuum Insulation Material
MITSUBISHI MOTORS: To Receive More Aid From Core Group
ORIENT CORPORATION: JCR Upgrades Senior Debts/CP to BBB-/J-2
RESONA HOLDINGS: Media Lynks Suspends Bank Transactions
SAN-AI OIL: JCR Downgrades Bonds to BBB, Removes Credit Monitor

SEIBU RAILWAY: Faces TSE Delisting After Fraudulent Statements
TOBISHIMA CORPORATION: Plans to Cut Debt by 40%


K O R E A

LG CARD: Creditors Mull Capital Increase to Normalize Status
SK CORPORATION: Snags Major Deal in Brazil


M A L A Y S I A

CHG INDUSTRIES: Court Hearing Set December 8
GOLDEN FRONTIER: Releases Shares Buy Back Notice
MAXIS COMMUNICATIONS: Granted Listing of Additional Shares
MTD CAPITAL: Purchases 201,000 Ordinary Shares on Buyback
PARAMOUNT CORPORATION: Proposes to Strike Off Dormant Unit

POS MALAYSIA: Unveils Employee Share Option Scheme
RANHILL POWER: PwC Completes Investigative Audit
RNC CORPORATION: Director Tow Kong Liang Resigns
SRIWANI HOLDINGS: Court Adjourns Hearing to November 23
SRIWANI HOLDINGS: Halts Shares to Pursue Capital Reconstruction

TH GROUP: Completes Reorganization Exercise
TH GROUP: Unveils Monthly Production Figures
TRU-TECH HOLDINGS: Releases Monthly Status Update


P H I L I P P I N E S

IONICS INC.: 3Q/FY04 Net Loss Widens to PHP118.9 Mln
MANILA ELECTRIC: Inks US$228-Mln Refinancing Agreement
NATIONAL POWER: 10 Bidders Likely For Masinloc Plant
PICOP RESOURCES: Shuts Down Paper Mill, Lays Off 1,000 Workers
PHILIPPINE LONG: To List Additional 1,289,745 Shares

VICTORIAS MILLING: Releases Amended FY03 Financial Results


S I N G A P O R E

GOODWOOD PARK: Unveils 3Q Financial Results
HARRICK STEEL: Posts Notice of Intended Preferential Dividend
NOVENA HOLDINGS: Notes Change in Shareholder's Interest
STRATEGIC INTELLIGENCE: Receives Winding Up Order


T H A I L A N D

ASIA HOTEL: SET Receives SEC's Conclusion on Financial Report
BANGKOK STEEL: SET Posts SP Sign on Securities
CAPETRONIC INTERNATIONAL: Securities Suspended from Trading
DATAMAT: Issues Further Explanation on 3Q Performance
SRITHAI FOOD: Applies for Exemption to Submit FS

* Large Companies With Insolvent Balance Sheets

     -  -  -  -  -  -  -  -  -

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


CLARIFY ASIA: To Declare Final Dividend
---------------------------------------
A final dividend is to be declared for Clarify Asia Pacific Pty
Limited (In Liquidation) A.C.N. 076 572 846.

Creditors whose debts or claims have not already been admitted
were required on 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
R. N. Yabsley
Liquidator
c/- PDY Partners Pty Limited
Level 6, 54 Miller Street,
North Sydney NSW 2060


DESIGN STAINLESS: Court Issues Winding Up Order
-----------------------------------------------
Take notice that by an Order of the Supreme Court of New South
Wales, Equity Division, made on 30 September 2004, Deryk Andrew
was appointed Official Liquidator of Design Stainless Pty
Limited (In Liquidation) A.C.N. 096 817 579.

Deryk Andrew
Official Liquidator
Bentleys MRI
Sydney Business Recovery & Insolvency Partnership
PO Box Q1165, QVB Post Office,
Sydney NSW 1230
Telephone: (02) 8221 8433,
Facsimile: (02) 8221 8422


FOREST WAT: To Declare Final Dividend on November 30
----------------------------------------------------
A first and final dividend is to be declared on 30 November 2004
for Forest Wat Fruit Stall Pty Ltd (Subject To Deed Of Company
Arrangement) A.C.N. 001 733 615.

Creditors whose debts or claims have not already been admitted
were required on 12 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 19th day of October 2004

R.G. Tolcher
Deed Administrator
Lawler Partners
Chartered Accountants
763 Hunter Street,
Newcastle West NSW 2302


GROUP ONE: Voluntarily Winds Up
-------------------------------
Notice is hereby given that at a general meeting of the members
of Group One Interiors Pty Limited (In Liquidation) A.C.N. 050
045 620 held on 30 September 2004, it was resolved that the
Company be wound up voluntarily and that, Martin John Green,
Chartered Accountant of GHK Green Krejci, Level 9, 179 Elizabeth
Street, Sydney NSW be nominated to act as Liquidator for the
purpose of the winding up.

Dated this 6th day of October 2004

Martin J. Green
Liquidator
GHK Green Krejci
Level 9, 179 Elizabeth Street,
Sydney NSW 2000


JAMES HARDIE: Welcomes Asbestos Legal Costs Review
--------------------------------------------------
In a disclosure to the Australian Stock Exchange (ASX) James
Hardie advised that it welcomed Thursday the government's
announcement of its intention to conduct a review of current
asbestos compensation arrangements in NSW.  With the government
now involved, the Company hopes to achieve an outcome suitable
to all stakeholders.

It was acknowledged at Thursday's meeting between the Company,
the ACTU, asbestos support groups and the Government that there
was substantial common ground between the parties.

Talks centered mainly on the issue of gaining greater legal and
administrative efficiencies in the current compensation system.  
James Hardie has consistently sought to have greater
efficiencies built into the system.

"We believe that for a sustainable solution, one that may have
to operate for more than 40 years, there must be some action to
reduce the escalating legal and administrative costs," said
Meredith Hellicar, Chairman of James Hardie.

"Additionally, such a review recognizes the broad public impact
and importance of asbestos compensation."

James Hardie and the ACTU already have agreed a number of key
points in facilitating a long-term compensation solution, which
it is hoped may form the basis of a Heads of Agreement.

To view the entire release, click on:
http://bankrupt.com/misc/JAMESHARDIE111804.pdf

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


LIMOUSINES FOR ALL: To Voluntarily Wind Up
------------------------------------------
Notice is hereby given that at a meeting of members of
Limousines For All Occasions Pty Ltd (In Liquidation) A.C.N. 095
329 249 held on 5 October 2004 it was resolved that the Company
be wound up voluntarily and Nicholas Crouch of Crouch
Insolvency, Chartered Accountants, Level 5, 82 Elizabeth Street
Sydney NSW 2000 be appointed Liquidator.

Dated this 5th day of October 2004


MARIC INSTALLATION: Appoints Riad Tayeh as Liquidator
-----------------------------------------------------
At an extraordinary General Meeting of Maric Installation Pty
Ltd (In Liquidation) A.C.N. 065 628 079 convened and held at the
offices of MP & K Partners, 5/9 Montgomery Street, Kograh, NSW
2217 on 6 October 2004, Riad Tayeh was appointed Joint
Liquidator with Mr. Antony de Vries.

Dated this 6th day of October 2004
Riad Tayeh
Joint Liquidator
de Vries Tayeh
c/- Level 3, 95 Macquarie Street,
Parramatta NSW 2150


MAYNE GROUP: Moody's Assigns (P) Ba1 To Senior Unsecured Notes
--------------------------------------------------------------
Moody's Investors Service assigned a (P) Ba1 rating to Mayne
Group Limited's (Mayne) prospective US$200 million senior
unsecured notes issuance (the Notes), maturing either in 7 or 10
years.

The net proceeds from this offering will be predominately used
to refinance or retire existing senior unsecured obligations.
The ratings outlook is stable.

The securities are being sold in privately negotiated
transactions pursuant to Rule 144A and Regulation S, without
registration under the US Securities Act of 1993.

Mayne's rating reflects [1] its solid market shares and
profitability in its key areas of operations, with medium to
high entry barriers; [2] stable underlying revenue streams from
pathology and diagnostic imaging; [3] the reasonable growth
prospects for the generic injectables business in its key
markets of operation, and which have supportive regulatory
frameworks; and [4] its moderate financial risk profile, given
its modestly geared balance sheet.

On the other hand, the rating reflects the challenges associated
with [1] its ability to create a long-term, stable business
profile in the generic injectables business, and which is
capable of generating predictable recurring cash flows; [2]
evolving corporate strategy, which means uncertainty for the
make-up of its long-term asset portfolio; and [3] the currency
risk evident in its pharmaceuticals business, given the partial
mismatch between revenues denominated in AUD/GBP/Euro/CAD/USD
and expenses based in USD/AUD/Euro.

Mayne has a strong position in the Australian health care
industry. The Company's activities cover specialty
pharmaceuticals (the manufacture of injectable and oral products
and health-related consumables), diagnostic services (pathology,
diagnostic imaging and medical centres), pharmacy services and a
pan-Atlantic generic injectables business. In its major areas of
operation, it demonstrates sound operating margins, supported by
high barriers to entry, which include manufacturing and
distribution capabilities in the generics business.

While Mayne's activities profile narrowed following the sale of
its hospital assets, its operating profile has evolved rapidly
in recent years with the current management team displaying
acumen in reshaping the business and enhancing shareholder
value. Given its geographic presence, the Company also occupies
a unique position as a global provider in the nascent generic
injectibles market. Moody's says that the rating considers the
benefits that may accrue should it show it can execute strategy
and broaden its activities in this area. At the same time, event
risk remains moderate as both the diagnostics and generic
injectables segments are attractive stand-alone businesses and
can be sold if an appropriate price is offered.

Moody's further notes that Mayne's net debt to capitalization is
significantly below its targeted leverage range of 20-30%,
raising the prospect of either debt-funded acquisitions and/or
returns to shareholders. In March 2004, as part of a A$500
million buyback, the Company repurchased A$360 million in shares
via an off-market tender.

At the same time, Mayne has a reasonable liquidity risk profile,
with low levels of debt maturing before 2006, as well as cash
reserves and reasonable back-up lines of credit to 2009 (albeit
MAC affected).

The Notes are to be guaranteed by certain key operating
subsidiaries. The indenture requires that subsidiary guarantees
cover at least 66.66% of total EBITDA, facilitating Mayne's
ability to undertake a certain level of asset sales. However,
Moody's understands that management has no imminent plans to
dispose of any major assets. The indenture also contains a debt
incurrence test for coverage of fixed charges above 2.75 times
and gearing below 40% as well as somewhat generous carve-outs.

Mayne's stable outlook reflects the sound prospects for its
operating performance, supported by a reasonable liquidity
profile. Upward pressure may result if evidence emerges of
consistency in management strategy, combined with profitable
growth in the two key businesses of injectables and diagnostics.
Conversely, downward pressure may arise with continued M&A
activity, resulting in a weaker operating or financial risk
profile, and/or material returns to shareholders funded by debt.

Mayne Group Limited, based in Melbourne, Australia, is a global
provider of generic injectable drugs and provides health care
services in Australia, including radiology and pathology.

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


MITSUBISHI AUSTRALIA: Recalling Magna, Verada Sedans
----------------------------------------------------
Mitsubishi Motors Australia has started recollecting thousands
of Magna and Verada sedans and wagons to fix a potential defect
that could lead to a fuel leak, according to The Age.

Subject to the recall are cars manufactured between November 3,
1999 and August 21, 2002.

The carmaker explained it was likely that the silencer pad in
the engine bay might retain moisture resulting to corrosion and
eventual perforation of the fuel pipe, causing a leak.

Mitsubishi Australia advised the owners of the vehicles affected
by the recall to contact a dealer who would arrange to have the
fuel pipe checked and replaced if necessary.

CONTACT:

Mitsubishi Motors Australia, Ltd. (MMAL)
Head Office: 1284 South Road
Clovelly Park South Australia,
5042 Australia
Phone: 08 8275 7443
Fax: 08 8275 7309
E-mail: careers@mmal.com.au
Web site: http://www.mitsubishi-motors.com.au


M&L MCGUIRE: Receives Winding Up Order
--------------------------------------
On the 5th of October 2004 the Supreme Court made an Order that
M&L Mcguire Pty Limited (In Liquidation) A.C.N. 002 694 448 be
wound up and appointed the undersigned to be Official
Liquidator.

Mark Roufeil
Gavin Thomas & Partners
Level 9, 31 Market Street,
Sydney


PLATINUM PROPERTY: To Face Winding Up Process
---------------------------------------------
On the 7th of October 2004 the Supreme Court of New South Wales,
Equity Division made an Order that the Platinum Property Group
Pty Limited (In Liquidation) A.C.N. 052 329 325 be wound up by
the Court and appointed the undersigned to be Liquidator.

Steven Nicols
Level 2, 350 Kent Street,
Sydney NSW 2000
Telephone: (02) 9299 2259.
Web site: www.bankrupt.com.au


PONHIN PTY: Sets November 30 as Date of Final Meeting
-----------------------------------------------------
Notice is hereby given that pursuant to Section 509(2) of the
Corporations Act a general meeting of Members of Ponhin Pty Ltd
(In Liquidation) A.C.N. 051 699 711 will be held at the offices
of Arthur Yip & Associates, Suite 140, Level 3, Regis Towers,
418 Pitt Street, Sydney NSW 2000 on the 30th of November 2004 at
10:00 a.m. for the purpose of laying before the meeting the
liquidators' final accounts showing the manner in which the
winding up has been conducted and the property disposed of, and
giving any explanation thereof.

Dated this 19th day of October 2004

Arthur Yip
Liquidator


PRIMELIFE CORPORATION: To Undertake AU$60-Mln Capital Raising
-------------------------------------------------------------
The Board of Directors of Primelife Corporation Limited is
pleased to announce that it will lodge a prospectus for a new
fully underwritten AU$60 million capital raising to support its
acquisition plans.

Managing Director, Jim Hazel, said the AU$60 million, which is
to be raised through an issue of converting notes and fully
underwritten by Tricom Equities, would be used to accelerate
Primelife's plans for the consolidation of the seniors living
industry.

"Yesterday's announcement of an acquisition offer for Aevum
Limited was the first step in what we believe will be a major
consolidation in the senior living industry," Mr. Hazel said.

"Today Primelife is in a strong position, we have recently
completed a major restructuring of the Board and executive
management and have communicated a clear strategy for the future
direction of the Company and the industry.

"The AU$60 million of new capital will strengthen our balance
sheet as we seek to accelerate our plans and cement our position
as the leading national brand in the seniors living sector."

Mr. Hazel said the additional funds would give Primelife greater
flexibility in the execution of its acquisition plans.

"The seniors living industry has traditionally been State-based,
but we believe there is a compelling business case for the
development of a strong brand with the scale and capacity to
rapidly establish a national footprint," Mr. Hazel said.

"The announcement of our takeover offer for Aevum is a clear
indication of our appetite and capacity for strategic
acquisitions but we have a number of other options for growth.
The number of options available to us means that we will be very
disciplined in our approach to acquisitions.

Tricom Equities has agreed to underwrite the issue. The
underwriting is subject to termination events customary for
issues of this type.

The prospectus for the issue is being finalized and is expected
to be released in the next few days. A summary of the key terms
of issue is attached - further details of the terms of issue
will be set out in the prospectus.

To view the details of the full release, click on:
http://bankrupt.com/misc/TCRAP_PRIMELIFECORPORATION111804.pdf

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


RADD CITY: Enters Winding Up Proceedings
----------------------------------------
Notice is hereby given that at a General Meeting of Members of
Radd City Pty Limited (In Liquidation) A.C.N. 086 719 342 duly
convened and held at The Institute of Chartered Accountants,
Level 15, 37 York Street, Sydney NSW 2000 on Wednesday 6 October
2004 at 10:10 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

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


RADD PTY: To Undergo Winding Up Process
---------------------------------------
Notice is hereby given that at a General Meeting of Members of
Radd Pty Limited (In Liquidation) A.C.N. 088 411 821 duly
convened and held at The Institute of Chartered Accountants,
Level 15, 37 York Street, Sydney NSW 2000 on Wednesday 6 October
2004 at 10:40 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

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


ROBERSON CONSTRUCTIONS: Placed in Members Voluntary Liquidation
---------------------------------------------------------------
At a General Meeting of Roberson Constructions (Bathurst) Pty
Ltd (In Liquidation) A.C.N. 000 493 434, duly convened and held
at 8 Braham Street, Bathurst New South Wales on 1 October 2004
the following Special Resolution passed:

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

Dated this 1st day of October 2004

Mark Henry Roberson
Liquidator
8 Braham Street, Bathurst NSW 2795


VASCO DEZYN: To Face Winding Up Proceedings
-------------------------------------------
Notice is hereby given that at a General Meeting of Members of
Vasco Dezyn Pty Ltd (In Liquidation) A.C.N. 084 499 329 held on
6 October 2004 at the offices of Holzman Associates, Level 2, 32
Martin Place, Sydney NSW 2000, it was resolved that the Company
be wound up voluntarily and that for such purpose Manfred
Holzman, Chartered Accountant, of Holzman Associates, Chartered
Accountants, Level 2, 32 Martin Place, Sydney be appointed
Liquidator. A meeting of creditors confirmed that appointment.

Dated this 7th day of October 2004

Manfred Holzman
Liquidator
Holzman Associates
Chartered Accountants
Level 2, 32 Martin Place,
Sydney NSW 2000
Telephone: (02) 9222 9070,
Facsimile: (02) 9222 9071


VILLAGE ROADSHOW: To Convene AGM on November 26
-----------------------------------------------
The Annual General Meeting (AGM) of Village Roadshow Limited
will be held on Friday, November 26, 2004 at 9.00 am. The
location of the meeting is Movie World, QLD.

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

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

The Australian Shareholders' Association has indicated its
voting intentions for 3 of the resolution(s) to be considered.

Resolutions to be considered:

Resolution B (i):
Re-election of director: Mr Robert Kirby
ASA will vote: Against

Village Roadshow has exhibited poor performance over the past
three years, also the ASA would like to see Village Roadshow
appoint an independent chairman.

Resolution B (ii):
Re-election of director: Peter Foo
ASA will vote: For

Resolution B (iii):
Election of director: Mr D Barry Reardon
ASA will vote: For

CONTACT:

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


WIRTHLIN WORLDWIDE: Winds Up Voluntarily
----------------------------------------
Notice is hereby given that at a general meeting of the members
of Wirthlin Worldwide Australasia P/L (In Liquidation) A.C.N.
074 078 489 held on the 22nd of September 2004, it was resolved
that the Company be wound up voluntarily and that, Paul Andrew
Billingham, Chartered Accountant of Grant Thornton, Level 17,
383 Kent Street, Sydney NSW 2000 be nominated to act as
Liquidator for the purpose of the winding up.

Dated this 22nd day of September 2004

P.A. Billingham
Liquidator
Grant Thornton
Level 17, 383 Kent Street,
Sydney NSW 2000


XXL IMAGES: Joint Meeting Slated for November 22
------------------------------------------------
Notice is hereby given pursuant to section 509 of the
Corporations Act 2001 that a joint meeting of members and
creditors of XXL Images Pty Ltd (In Liquidation) A.C.N. 088 536
574 will be held at the offices of Gould Ralph Pty Ltd, Level 42
AAP Centre, 259 George Street, Sydney NSW on Monday, 22nd day of
November, 2004 at 4:00 p.m. for the purpose of laying before the
meeting the liquidator's final account and report and giving any
explanation thereof.

The requirements of that Law in respect of finalizing the
liquidation can be satisfied without your attendance at the
above meeting and members will not prejudice their rights if
they do not so attend.

Dated this 19th day of October 2004

V.R. Gould
Liquidator
Level 42 AAP Centre,
259 George Street,
Sydney NSW 1000


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


A' BIO: Court Issues Bankruptcy Order
-------------------------------------
Notice is hereby given that a Bankruptcy Order against Chan Kai
Fun Trading as A' Bio Shoes was made on 3 November 2004.

All debts due to the estates should be paid to the undersigned.

Dated this 12th day of November 2004.

E T O'CONNELL
Official Receiver


ARCON TECH: Unveils 3Q Financial Results
----------------------------------------
Arcon Tech posted its third quarter financial statement at the
Growth Enterprise Market (GEM) web site.

The Company reflected a decrease in their cost of sales from
previous of SG$65,430 to the present value of SG$1,555 of the
same period.

To view the entire document click on:
http://bankrupt.com/misc/tcrap_arcontech111704.pdf


BANK OF CHINA: Launches Workforce Overhaul
------------------------------------------
The Bank of China has started a widespread revamp of its
workforce to encourage most of its personnel to reapply for
their positions, according to Xinhuanet.

The staff reorganization, which is aimed at clearing the way for
overseas listings and a stake sale to foreign investors, was
undertaken ahead of a planned initial public offering.

IT is understood that BOC's listing next year would raise
several billion dollars and be among the largest in global
capital markets.

The bank, which has 230,000 staff and more than 11,600 branches,
will complete its staff evaluation on management positions and
reform of the salary and bonus system by the third quarter of
next year.


DICK'S METAL: Bankruptcy Order Made
-----------------------------------
Notice is hereby given that a Bankruptcy Order against the Yee
Chi Tat Trading as Dick's Metal Industry was made on 3 November
2004.

All debts due to the estates should be paid to the undersigned.

Dated this 12th day of November 2004.

E T O'CONNELL
Official Receiver


DONPOWER TRADING: Winding Up Petition Hearing Set December 15
-------------------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Donpower Trading Limited by the High Court of Hong Kong Special
Administrative Region was on the 26th day of October 2004
presented to the said Court by The Incorporated Owners of Pearl
House whose address is situated at Ground Floor, Management
Office, Pearl House, Nos. 368-374 Prince Edward Road West, Hong
Kong.  

The said Petition will be heard before the Court at 9:30 am on
the 15th 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.

Hau, Lau, Li & Yeung
Solicitors for the Petitioner
Units 1702-7, 17/F., Far East Finance Centre
No. 16 Harcourt Road, Admiralty
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 14th day of
December 2004.


ELITE FINE: Faces Bankruptcy Proceedings
----------------------------------------
Notice is hereby given that a Petition for the Winding Up of
Elite Fine Development Limited by the High Court of Hong Kong
was on the 15th day of October, 2004 presented to the said Court
by Yueh Nga Yu of Flat N, 6/F., Front Block, 425 Queen's Road
West, Hong Kong.  

The said petition will be heard before the Court at 9:30 am. on
the 1st 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.

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

Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention to do so.  The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the above named not
later than six o'clock in the afternoon of the 30th day of
November 2004.


HONGKONG ASSOCIATED: Posts Bankruptcy Notice
--------------------------------------------
Notice is hereby given that a Bankruptcy Order against Chan Man
Chung Trading as HongKong Associated (Wah Lee) Knitting Factory
was made on the 3rd of November 2004.

All debts due to the estates should be paid to the undersigned.

Dated this 12th day of November 2004.

E T O'CONNELL
Official Receiver


JOINTEK CONSULTANTS: Court to Hear Winding Up Petition Dec. 22
--------------------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Jointek Consultants Limited by the High Court of Hong Kong
Special Administrative Region was on the 2nd day of October 2004
presented to the said Court by Roco Investment Limited and Exact
Grow Development Limited whose registered office are situated at
Top Floor, Chinachem Golden Plaza, 77 Mody Road, Tsimshatsui
East, Kowloon, Hong Kong.  

The said Petition will be heard before the Court at 9:30 am on
the 22nd 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.

Ford, Kwan & Company
Solicitors for the Petitioner
Suites 1505-1508, 15th Floor
Chinachem Golden Plaza
No. 77 Mody Road, Tsimshatsui East
Kowloon 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 11th day of
December 2004.


TAI FAT: Serves Bankruptcy Notice
---------------------------------
Notice is hereby given that a Bankruptcy Order against Leung Ku
Yin Trading as Tai Fat Garment Fty. was made on 3 November 2004.

All debts due to the estates should be paid to the undersigned.

Dated this 12th day of November 2004.

E T O'CONNELL
Official Receiver


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


ASIA PULP: To Build US$1.9-Bln Paper Plant in China
---------------------------------------------------
Asia Pulp and Paper Company Limited (APP) will construct the
world's largest paper factory in China as it finalizes key parts
of a massive debt restructuring, Reuters reports.

APP declared it would inject US$1.9 billion into a project to
build a paper and paper products facility in China's Hainan
province following the completion of a debt restructuring in the
country.

Construction of the CNY16 billion (US$1.93 billion) Chinese
plant, with a yearly capacity of 1.6 million tons, will kick off
next year and production is expected to start in 2007.

Earlier, the firm called a moratorium on its US$14 billion debts
in 2001 after aggressive expansion in the late 1990s, ensnaring
creditors worldwide.

APP, the largest corporate defaulter in emerging markets
history, has assets worth around US$4 billion in China,
comprising 13 pulp and paper factories with total production
capacity of more than 2.2 million tons.

Yesterday, the TCRAP reported APP was accused by international
environmental group Greenpeace of breaching Chinese Law by
logging natural forests in the Chinese province of Yunnan.

However, the pulp and paper Company denied the accusations,
insisting it is operating legally in China, as well as in other
countries.

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


BANK PERMATA: PPA Bullish on 20% Stake Sale
-------------------------------------------
The government is confident the divestment of a 20-percent stake
in Bank Permata later this year will attract more bidders,
ensuring a favorable price, The Jakarta Post says.

The asset management Company PPA, which handles the Permata
stake sale, hopes that other investors would participate in the
tender despite Standard Chartered's announcement of its intent
to acquire the stake.

"The more bidders the better. We want to see more competition so
as to enable to us to obtain a higher price for the stake," PPA
Vice President Raden Pardede told reporters.

Recently, a consortium of Stanchart and PT Astra International
bought a 51-percent stake in Permata for IDR2.77 trillion. The
British bank has also openly expressed strong interest in
acquiring more shares in Permata.

In a bid to raise cash to plug the country's 2004 budget
deficit, the state intends to dispose of another 20 percent
stake in Permata.

CONTACT:

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


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


MATSUSHITA ELECTRIC: Develops New Vacuum Insulation Material
------------------------------------------------------------
The Home Appliances Group of Matsushita Electric Industrial has
developed Chip-Vacua, a high-performance vacuum insulation
material flexible enough to be altered into various forms.

Employing Matsushita's proprietary CHIP (Composition of Heat
Insulation Pattern) technology, the new material achieves
approximately five times and ten times the heat insulation
capability of rigid urethane foam and glass wool, respectively,
as well as a thermal conductivity of 0.0050w/mk at 24 deg C. The
nature of the chipped vacuum insulator adds more flexibility,
enabling wider applications in use for floor heating systems,
bathtubs, and other housing materials.

With the Company's unique laminated film applied to the
insulation material core, the product has increased resistance
to pinholes so that superior insulation effects remain intact
even after being affected by dust and other fine foreign
objects. Matsushita is aiming to commercialize the material in
2005.

CONTACT:

Matsushita Electric Industrial Co., Ltd.
1006 Oaza Kadoma
Kadoma, Osaka 571-8501, Japan
Phone: +81-6-6908-1121
Fax: +81-6-6908-2351
Web site: http://matsushita.co.jp


MITSUBISHI MOTORS: To Receive More Aid From Core Group
------------------------------------------------------
Mitsubishi Motors Corporation is likely to get JPY100 billion
(US$960 million) in additional aid from three group firms, says
The Japan Times.

Mitsubishi Heavy Industries Limited, trading house Mitsubishi
Corporation and Bank of Tokyo-Mitsubishi Limited have reached a
basic accord on the additional assistance, including purchases
of the struggling automaker's assets.

The three core Mitsubishi group members is considering granting
the ailing automaker a relief from payments for the air-
conditioners and other auto parts it supplies.

The aid would come on top of JPY496 billion in rescue financing
earlier this year from the Mitsubishi group and other concerns.

CONTACT:

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


ORIENT CORPORATION: JCR Upgrades Senior Debts/CP to BBB-/J-2
------------------------------------------------------------
The Japan Credit Rating Agency Limited (JCR) has upgraded the
ratings on senior debts and CP program with maximum amount
increased to JPY200 billion from JPY100 billion of Orient
Corporation from BB+ and J-3 to BBB- and J-2, respectively.

Rationale:

The upgrade of the long-term and short-term ratings for Orient
Corp. reflects the strengthened relationships with Mizuho
Financial Group, stabilized fundraising and recovery of
transaction volume in amount. On the other hand, there remain
concerns about delinquent consumer loans and credit costs.

The net worth of Orient Corp. is heavily dependent on preferred
shares and deferred tax assets. The quality of capital is poor.

Orient was positioned as a strategic partner of Mizuho Financial
Group, which purchased the preferred shares. Both Orient and
Mizuho Financial Group plan to keep the current level of equity
capital. JCR took into account these two factors in the upgrade
for Orient.


RESONA HOLDINGS: Media Lynks Suspends Bank Transactions
-------------------------------------------------------
Resona Holdings, Inc. adviced that Media Lynks Corporation,
which is a customer of its banking subsidiaries, Resona Bank,
Ltd. and The Kinki Osaka Bank, Ltd., has declared a suspension
of bank transactions. As a result, there is concern that the
claims to the Company may become irrecoverable or their
collection may be delayed.

Details were announced as follows:

(1) Outline of the Company
Corporate name: Media Lynks Corporation
Address: 3-19, 1-chome Tanimachi, Chuo-ku, Osaka
Representative: Yoshihiko Shindo
Amount of capital: JPY942 Million
Line of business: Development and sales of information
processing system

(2) Fact Arisen to the Company and Its Date
Suspension of transactions with banks declared on November 28,
2003.

(3) Amount of Claims to the Company
Exposure of Resona Bank
Exposure of Kinki Osaka Bank
Loans: JPY3.1 billion
Loans: JPY0.4 billion

Other banking subsidiaries of Resona HD, Saitama Resona Bank and
Nara Bank have no claims to the Company.

(4) Impact of This Development on the Forecasted Earnings
The anticipated losses arising from this development are covered
by loan loss reserves.

Therefore, the previous earnings forecasts of Resona HD for the
fiscal year ending March 31, 2005, which were announced on
October 26, 2004, remain the same.

CONTACT:

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


SAN-AI OIL: JCR Downgrades Bonds to BBB, Removes Credit Monitor
---------------------------------------------------------------
The Japan Credit Rating Agency Limited (JCR) has removed Credit
Monitor from long-term and short-term ratings for San-Ai Oil
Co., Ltd. It has downgraded the long-term rating from #BBB+ to
BBB and has affirmed the J-2 rating on the CP program of the
Company.

Issues        Amount    Issue Date      Due Date        Coupon
convertible
bonds no.3    JPY5 bln  Sept. 30, 1994  Sept. 30, 2005  1.6%
convertible
bonds no.4    JPY8 bln  Sept. 30, 1994  Sept. 28, 2007  1.8%

CP  Maximum        Backup Line
    JPY10 billion  0%

Rationale:

San-Ai Oil is a major trading firm for fuels and energy of Ricoh
group. It announced on September 17 that it would buy all the
shares of Kygnus Sekiyu Ltd., oil distributor, from TonenGeneral
Sekiyu and Nichimo Co to expand the sales network and to
stabilize the procurement of petroleum products. Acquisition
extended business base of Sai-Ai Oil to some extent. However,
the effect will be small.

Additionally, the acquisition will deteriorate the financial
structure of San-Ai Oil. JCR downgraded the long-term rating for
San-Ai Oil, removing it from Credit Monitor, accordingly. JCR
will watch carefully to what extent can San-Ai Oil extend the
earnings via stabilized procurement, increased sales network and
its sales force.

CONTACT:

San-Ai Oil Co., Ltd.
22-5 Higashi-Oi 5-Chome
San-Ai Heiwa Building
Shinagawa-Ku 140-8539, Tokyo 140-8539
Japan
Phone: +81 3 5479 3180
Fax: +81 3 5479 3377
Web site: http://www.san-ai-oil.co.jp/


SEIBU RAILWAY: Faces TSE Delisting After Fraudulent Statements
--------------------------------------------------------------
Scandal-hit Seibu Railway Company will be delisted from the
Tokyo Stock Exchange on December 17, says The Japan Times.

The bourse announced Tuesday it will remove Seibu Railway
Company from the First Section for falsifying the ownership of
major stockholders in its financial statements.

According to the TSE, Seibu Railway's long-standing practice of
underreporting the ratio of stakes held by majority shareholders
has undermined investor confidence in the securities market.

The rare move undertaken by the bourse represents a severe
punishment, as it only delists companies who are in the verge of
bankruptcy.

The delisting is a major setback for Seibu Railway, as it will
lose a vital means of raising money from the market apart from
getting a tarnished reputation.

The Seibu Railway issue was to be moved yesterday from the
monitoring post to the liquidation post to warn investors of the
impending delisting. In principle, a security will be delisted
one month after it is put on the liquidation post.

The railway firm's unethical practice came out in the open last
month following revelation it had forged the shareholding ratio
of its major shareholders, including Kokudo, in order to meet
TSE's listing requirements.

The TSE described the wrongdoing as an "organizational effort"
by the railway.

Seibu Railway President Terumasa Koyanagi pledged Friday to
resolve the issue and reiterated his wish to keep the Company's
shares listed.

CONTACT:

Seibu Railway Company Limited
1-11-1, Kusunokidai
Tokorozawa, Saitama 359-8520, Japan
Phone: +81-42-926-2035
Fax: +81-42-926-2237


TOBISHIMA CORPORATION: Plans to Cut Debt by 40%
-----------------------------------------------
Tobishima Corporation plans to trim its unconsolidated interest
bearing debt by 40 percent by March 2007 as part of its new
business plan, relates Kyodo News.

The money-losing construction firm, which recently scrapped a
merger plan with Kumagai Gumi Company, will narrow its debt to
JPY34.8 billion by the end of the 2006 business year from
JPY56.5 billion this year.

Tobishima President Yoshiharu Tomimatsu said the Company is
moving to revive its business on its own based on its new
business program.

Under the three-year scheme, Tobishima aims to boost the amount
of unconsolidated construction orders it receives to JPY163
billion by the end of the program from JPY154 billion as of
March this year.

Moreover, the firm revised upward its earnings forecast for the
current year following a JPY30 billion capital increase through
a third-party allotment of new shares.

It now expects unconsolidated net profit of JPY3.3 billion,
unchanged from its earlier forecast in May, and pretax profit of
JPY4.3 billion, up from JPY4 billion, on sales of JPY175.2
billion, up from JPY170 billion.

Last fiscal 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:

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


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


LG CARD: Creditors Mull Capital Increase to Normalize Status
------------------------------------------------------------
Deloitte Touche Tomatsu advised LG Card to raise its capital by
KRW1.2 trillion to keep its status as a listed Company in the
Korea Stock Exchange, reports Asia Pulse.

In a report sent by Deloitte to Korea Development Bank (KDB), a
creditor of LG Card, it suggested that the Company should also
reduce its capital to a 5.7-to-one share ratio to avoid
delisting.

To be listed on the KSE, the ratio of capital erosion should
fall below 50 percent, KDB director Na Jong-kyu said.

If LG Card posts losses equivalent to 50 percent of its capital
at the end of the year, it will be driven out of the KSE on
March 31, 2005, according to stock research analysts. It was
designated as a supervised stock on the KSE last year.

KDB and the other creditors will likely shoulder the additional
burden of capital increase to help normalize LG Card.  After the
KDB hold negotiations with creditors and the LG Group, no added
amount of capital increase may be revised.

Winning support from creditors and LG Group on an additional
bailout may not be easy.  Kookmin Bank and other creditors
attached conditions in January when they supported a KRW5-
trillion bailout package that makes then exempt from additional
aid.

According to analysts, it may take a year for the credit card
Company to be fully normalized, which is possible through the
bailout program.

"LG Card will likely see losses for the next six months and it
will be put on the normalization track after 12 months only if
the new delinquencies are constrained," an analyst from Dongwon
Securities said.

But creditor banks are expected to oppose the second round of
bailout for the plastic card company.

KDB Governor Yoo Ji-chang said commercial banks must brace for a
worst scenario amid several negative symptoms at LG Card due to
a slump in private consumption.

If there are eager investors even before LG Card's management is
normalized they may consider selling the card Company, Mr. Yoo
added.

In its financial report for the first nine months of the year,
LG Card posted a KRW407 billion in net losses.  The firm's
assets stood at KRW9.95 trillion against KRW10.84 trillion in
debts.

The National Agricultural Cooperative Federation holds a 16.6
percent stake in the credit card issuer, Kookmin Bank with 14.1
percent, Woori Bank with 10.3 percent and the Industrial Bank of
Korea with 7 percent.

CONTACT:

LG Card Company Limited
Fax: (02)3420-7002
E-mail: webmaster@card.lg.co.kr
Web site: http://www.lgcard.com


SK CORPORATION: Snags Major Deal in Brazil
------------------------------------------
SK Corporation and POSCO strengthened their grip in Latin
America by completing major contracts in Brazil, The Korea Times
relates.

The two Korean companies has tapped the overseas energy and
natural resources markets by signing a mineral supply deal in
Brazil Tuesday.

The contracts came during President Roh Moo-hyun's official
visit to three South American countries such as Argentina,
Brazil and Chile.

POSCO forged a long-term supply agreement to source iron ore
from Brazilian mining group Companhia Valo do RioDoce (CVRD).  
The agreement ensures supply of 100 million tons of iron ore to
Posco annually until March 2015 for US$2.1 billion.

"We have secured a safe supply line of raw materials at a time
when the world faces a challenge of raw material shortage," the
Company said in a statement.

SK Corporation was able to clinch a major deal in the oil
sector. The nation's largest oil refinery has been actively
involved in energy projects abroad, said it secured a partial
development right for two oil fields in Brazil- BM-C-30 Block
and BM-C-32 Blocks-by 20 percent and 26.7 percent, respectively
through an agreement with Petrobras, the world's 15 largest oil
Company.

SK was able to secure about 360 million barrels through the
deal.  The oil excavation will be conducted between and 2004 and
2008 and oil production will be started from 2010, it said.

CONTACT:

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


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


CHG INDUSTRIES: Court Hearing Set December 8
--------------------------------------------
Further to the announcement on 2 November 2004 in relation to
the Kuala Lumpur High Court Ex-Parte Originating Summons No. D7-
24-181-2004, CHG Industries Berhad announced that the Kuala
Lumpur High Court had on 12 November 2004 fixed the hearing on
the application to seek for an extension of the existing
Restraining Order on Wednesday, 8 December 2004.

CONTACT:

CHG Industries Berhad
8th Mile Jalan Cheras
Cheras, Selangor Darul Ehsan 43200
Malaysia
Telephone: +60 3 907 58811
Telephone: +60 3 907 66215

This announcement is dated 17 November 2004.


GOLDEN FRONTIER: Releases Shares Buy Back Notice
------------------------------------------------
Golden Frontier Berhad disclosed to the Bursa Malaysia
Securities Berhad the details of its shares buy back on November
17, 2004.
   
Date of buy back: 17/11/2004

Description of shares purchased:  Ordinary Shares of RM1.00 Each

Total number of shares purchased (units): 6,700

Minimum price paid for each share purchased (RM): 0.670

Maximum price paid for each share purchased (RM): 0.685

Total consideration paid (RM): 4,568.02

Number of shares purchased retained in treasury (units): 6,700

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

Cumulative net outstanding treasury shares as at to-date
(units): 1,218,600

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

CONTACT:

Golden Frontier Berhad
No 11 Lorong Kinta
10400 Penang,
Malaysia
Phone: +60 4 226 2226
Phone: +60 4 228 2890

This announcement is dated 17 November 2004


MAXIS COMMUNICATIONS: Granted Listing of Additional Shares
----------------------------------------------------------
Maxis Communications Berhad's additional 195,000 new ordinary
shares of RM0.10 each issued pursuant to the employee share
option scheme will be granted listing and quotation with effect
from 9 a.m., Friday, 19 November 2004.

CONTACT:

Maxis Communications Bhd
Level 18, Menara Maxis
Kuala Lumpur City Centre
Off Jalan Ampang
50088 Kuala Lumpur
Tel: 03-23307000
Fax: 03-23300590


MTD CAPITAL: Purchases 201,000 Ordinary Shares on Buyback
---------------------------------------------------------
MTD Capital Berhad announced the details of its shares buy back
on November 17, 2004.

Date of buy back: 17/11/2004

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

Total number of shares purchased (units): 201,000

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

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

Total consideration paid (RM): 522,600.00

Number of shares purchased retained in treasury (units): 201,000

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

Cumulative net outstanding treasury shares as at to-date
(units): 5,450,600

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/


PARAMOUNT CORPORATION: Proposes to Strike Off Dormant Unit
----------------------------------------------------------
Paramount Corporation Berhad announced that an application has
been submitted to the Accounting and Corporate Regulatory
Authority, Singapore on 13 November 2004 to strike off SMT
Circuit Assembly Pte Ltd (SMT), a 76.94% owned subsidiary.

SMT was incorporated in Singapore on 19 August 1987 as a private
limited Company under The Companies Act (Chapter 50), Singapore.
The authorised and issued and paid up share capital of SMT is
SGD4,000,000.00.

SMT had ceased its business activity since 1996.

The proposed strike off of SMT will have no financial effect on
the earnings and net tangible assets of the Paramount group for
the financial year ending 31 December 2004.

None of the directors or substantial shareholders of Paramount
or persons connected to the directors or substantial
shareholders has any interest, direct or indirect, in the
proposed strike off of SMT.

CONTACT:

Paramount Corporation Berhad
Level 8, Uptown 1
1, Jalan SS21/58
Damansara Uptown
47400 Petaling Jaya
Selangor
Tel: 03-77263000
Fax: 03-77269559
Web site: http://www.pcb.com.my


POS MALAYSIA: Unveils Employee Share Option Scheme
--------------------------------------------------
POS Malaysia & Services Holdings Berhad's additional 194,000 new
ordinary shares of RM1.00 each issued pursuant to the employee
share option scheme be granted listing and quotation with effect
from 9 a.m., Friday, 19 November 2004.

CONTACT:

Pos Malaysia & Services Holdings Berhad
189 Jalan Tun Razak
Kuala Lumpur, 50400
MALAYSIA
Telephone: +60 3 2166 2323
Telephone: +60 3 2166 2266


RANHILL POWER: PwC Completes Investigative Audit
------------------------------------------------
Ranhill Power Berhad (RPower) refers to its announcement dated
20 September 2004 on the investigative audit on the Company and
its subsidiaries.

The Company announced that the investigative audit has been
completed. The audit report was submitted to the Securities
Commission on 17 November 2004.

The investigative audit report covers the financial years ended
31 December 1998 to 31 December 2001. PricewaterhouseCoopers
Advisory Services Sdn Bhd (PwC) has highlighted certain findings
in the investigative report. RPower is currently reviewing these
findings and may seek legal opinion, where appropriate, before
considering the next course of action.

CONTACT:

Ranhill Berhad
36th Floor, Empire Tower
No 182 Jalan Tun Razak
50400 Kuala Lumpur
Malaysia
Tel: 0060 3 2171 2020
Fax: 0060 3 2164 2235

This announcement is dated 17 November 2004.


RNC CORPORATION: Director Tow Kong Liang Resigns
------------------------------------------------
RNC Corporation Berhad announced the resignation of its Non
Independent & Non Executive Director Tow Kong Liang effective
November 8, 2004.

Date of change: 08/11/2004  

Type of change: Resignation

Designation: Director

Directorate: Non Independent & Non Executive

Name: Tow Kong Liang

Age: 53

Nationality: Malaysian

Qualifications: N/A

Working experience and occupation: N/A

Directorship of public companies (if any): N/A

Family relationship with any director and/or major shareholder
of the listed issuer: N/A

Details of any interest in the securities of the listed issuer
or its subsidiaries: N/A
   
CONTACT:

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


SRIWANI HOLDINGS: Court Adjourns Hearing to November 23
-------------------------------------------------------
Sriwani Holdings Berhad refers to its announcements dated 11
October 2004 and 26 October 2004 in relation to the Company's
petition to dispose off its property as part of its
restructuring scheme.

The Company announced that the hearing date for its application
to strike the petition was adjourned by the Court to 23 November
2004.

CONTACT:

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

This announcement is dated 17 November 2004.


SRIWANI HOLDINGS: Halts Shares to Pursue Capital Reconstruction
---------------------------------------------------------------
To facilitate the Capital Reconstruction of Sriwani Holdings
Berhad, the trading of the Company's shares will be suspended
with effect from 9 a.m., Wednesday, 24 November 2004.

Your attention is drawn to the Sriwani's information circular to
shareholders dated 6 November 2004.

Collectively referred to as "Capital Reconstruction"

A) Reduction of the issued and paid-up share capital of Sriwani
of up to RM160,083,000 comprising 160,083,000 ordinary shares of
RM1.00 each by the cancellation of RM0.98 from the par value of
each ordinary share of RM1.00 in issue pursuant to an order of
the High Court of Malaya under section 64 of the Companies Act,
1965 (Capital Reduction)

(B) Consolidation of resultant ordinary shares of RM0.02 each
into ordinary shares of RM1.00 each (Consolidated Shares) on the
basis of 50 ordinary shares of RM0.02 each into 1 ordinary share
of RM1.00 each (Share Consolidation)


TH GROUP: Completes Reorganization Exercise
-------------------------------------------
Further to the announcement made on 31 May 2004 and 21 September
2004, TH Group Berhad announced that the proposed internal
restructuring and reorganization exercise has been completed on
5 November 2004 with all relevant approvals obtained.

CONTACT:

TH Group Berhad
Phase 1 Mile 1.5 Leila Road
Sandakan, Sabah 90712
Malaysia
Telephone: +60 89 273 388
           +60 89 272 868


TH GROUP: Unveils Monthly Production Figures
--------------------------------------------
TH Group Berhad announced the production figures for the month
of October 2004 in respect of the Group's plantation production
as follows:

         Current    Preceding     Current Year    Preceding
          Month       Year         to-date          Year
                    Corresponding                 Corresponding
                      Month                        Period

           (mt)        (mt)          (mt)           (mt)

FFB           33,149   25,340       265,331       239.465

Crude Palm Oil 9,956    6,894        74,353        64,716

Palm Kernel    2,324    1,611        16,750        14,938

Cocoa             5        3         66             182


TRU-TECH HOLDINGS: Releases Monthly Status Update
-------------------------------------------------
Further to the announcement dated 15 October 2004 on the status
of default of coupon payment on RM55,000,000 nominal amount of
redeemable unsecured loan stock (RULS), and to the announcement
dated 10 November 2004 on the Company's detailed restructuring
plan to regularize its financial condition, Tru-Tech Holdings
Berhad announced that there has been no material developments in
respect of the Default pursuant to Practice Note 1/2001.

The Company announced that it will not be able to make the
monthly deposit of RM1,200,000 due on 17 November 2004 for the
purposes of redemption of the RULS, due to Tru-Tech's current
tight cash flow position. The monthly deposit was required in
accordance with the terms of the Trust Deed dated 18 October
1996 as amended by the Supplemental Trust Deed dated 16 November
2001 and the 2nd Supplemental Trust Deed dated 10 September 2003
(collectively, the Trust Deed) (Deposit Default). The financial
and legal implications to Tru-Tech in respect of the Deposit
Default are similar to that of the Default, which had been set
out in the announcement dated 15 October 2004.

The principal outstanding of all other credit facilities granted
to Tru-Tech and its subsidiaries as at 31 October 2004 is set
out in Table 1 of the Appendix to this announcement.

For more information, go to
http://bankrupt.com/misc/tcrap_trutech111804.xls

CONTACT:

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

This announcement is dated 17 November 2004.


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


IONICS INC.: 3Q/FY04 Net Loss Widens to PHP118.9 Mln
----------------------------------------------------
Electronics manufacturer Ionics Inc. posted a third-quarter net
loss of PHP118.9 million, versus a net loss of PHP94.3 million a
year earlier, Dow Jones reports.

In the nine months to September, its net loss narrowed to
PHP240.0 million from PHP988.9 million in 2003.

3Q ended Sept. 30

Figures in pesos (PHP)

                          2004          2003
Sales              PHP1.25 Bln   PHP1.66 Bln
Cost of goods sold    1.31 Bln      1.68 Bln
Operating expenses   58.16 Mln     98.94 Mln
Operating income    (117.4 Mln)   (115.2 Mln)
Other income          9.79 Mln     17.27 Mln
Net profit          (118.9 Mln)    (94.3 Mln)
EPS                      (0.28)        (0.22)

9 months ended Sept. 30

Sales              PHP3.10 Bln   PHP4.48 Bln
Cost of goods sold    3.25 Bln      4.68 Bln
Operating expenses   168.2 Mln     207.6 Mln
Operating income    (315.6 Mln)   (408.3 Mln)
Other income         23.48 Mln     40.00 Mln
Net profit          (240.0 Mln)   (988.9 Mln)
EPS                      (0.56)        (2.31)

Figures in parentheses are losses

CONTACT:

Ionics, Inc.
11/F, DTC Place Building
2322 Pasong Tamo Extension, Makati City
Tel. No:  889-8578 to 80
Fax No:  889-8582/84
E-mail Address: judyqua@attglobal.net
URL: http://www.IONICS-EMS.com
Auditor:  SyCip, Gorres, Velayo & Company
Transfer Agent:  Rizal Commercial Banking Corporation


MANILA ELECTRIC: Inks US$228-Mln Refinancing Agreement
------------------------------------------------------
The Manila Electric Company (Meralco) has successfully signed an
agreement with its domestic and foreign commercial banks to
refinance maturing loans due in the next 24 months in an
aggregate equivalent amount of US$28 million. The 7-year dual-
tranche facility denominated in USD and PHP bears an amortizing
feature and a final maturity of 2011.

Over the last year, Meralco has been pursuing a Comprehensive
Liability Management Plan  (CLMP) to address its scheduled debt
obligations as well as other financial requirements. The Company
proactively engaged its existing lenders, which resulted in the
bank-refinancing program that provides a more balanced debt
maturing profile for the Company. Cognizant of Meralco's role as
the country's largest power distribution utility, the
refinancing received strong support from the Company's existing
creditors.

BPI Capital Corporation and Citibank, N.A. Manila Branch/
Citigroup Global Markets Asia Limited acted as Joint Arrangers
for the refinancing facility.

A total of 30 foreign and domestic banks participated in the
refinancing which marks another milestone in Philippine
fundraisings: Senior Co Arranger: Banco de Oro Universal Bank,
Bank of America N.A., Equitable PCI Bank, Inc., Mizuho Corporate
Bank Ltd., Manila Branch, Mizuho Corporate Bank Ltd., Hong Kong
Branch; Co Arranger: Security Bank Corporation, The
International Commercial Bank of China, Manila Branch, The
International Commercial Bank of China, Singapore Branch, The
International Commercial Bank of China, Offshore Banking Branch,
Bayerische Hypo-und Vereinsbank AG, Singapore, Standard
Chartered Bank, Norddeutsche Landesbank Girozentrale, Singapore
Branch; Lead Manager: China Banking Corporation, Cathay United
Bank, Development Bank of the Philippines, Hua Nan Commercial
Bank, Ltd., Singapore Branch Rizal Commercial Banking
Corporation, Natexis Banques Populaires, Hong Kong Branch, Chang
Hwa Commercial Bank Limited, Singapore Branch, Erste Bank der
eesterreichischen Sparkassen AG, Metropolitan Bank & Trust
Company, Australia & New Zealand Banking Group Limited, Asia
United Bank, Allied Bankingn Corporation, Bank of Kaohsiung
Offshore Banking Branch, The Bank of Tokyo-Mitsubishi Ltd.,
Labuan Branch, BNP Paribas, Manila Offshore Branch and Sumitomo
Mitsui Banking Corporation.

For a copy of the press release, go to
http://bankrupt.com/misc/tcrap_meralco111804.pdf


NATIONAL POWER: 10 Bidders Likely For Masinloc Plant
----------------------------------------------------
The government expects at least 10 firms to participate in the
bidding of the National Power Corporation's 600-megawatt
Masinloc coal-fired power plant on November 25, reports the
Business World.

Power Sector Assets and Liabilities Management Corp. (PSALM)
Vice-President Froilan A. Tampinco said four local firms and six
foreign companies are likely to vie for Masinloc.

While only 20 percent of Napocor's assets were sold this year,
Mr. Tampinco expressed optimism the government will push through
with its target to auction 70 percent of the firm's power plants
in 2005.

Local firms namely First Gas Power Corporation and Trans-Asia
Power Generation Corporation and foreign firms YNN of Australia,
Malaysia's YTL Power, Japan's Marubeni Corp., U.S. power firm
Mirant Corporation and Korea Electric Power Corp. are reportedly
interested in Masinloc.

CONTACT:

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


PICOP RESOURCES: Shuts Down Paper Mill, Lays Off 1,000 Workers
--------------------------------------------------------------
Bislig City Mayor Alberto Tan is seeking government assistance
to save more than a thousand workers at Asia's erstwhile largest
paper mill, PICOP Resources, Inc., Asia Pulse reports.

The Company, headed by General Manager Wilfredo Fuentes filed on
November 3 before the regional office of the Department of Labor
and Employment (DoLE) a lay-off notice and notice of termination
of some 926 casual and contractual workers of the firm.

The Mayor cited the continuing price hike of crude oil has
forced PICOP to temporarily shut down all its operations
starting end of this month and the continuing problem of
smuggling of timber or logs cut by suspected thieves within the
229,594 hectares logging concession of PICOP.

Mr. Tan said he would personally meet DoLE Secretary Patricia
Sto. Tomas on Tuesday in Manila to discuss how the DOLE
Secretary can help in the mass lay-off of workers by PICOP.

"Without doubt, Bislig City will be affected by the closure I
believe will last for the next six months since more than 5,000
residents are directly and indirectly dependent on PICOP," Tan
said.

CONTACT:

Picop Resources Inc.
2/F, Moredel Building
2280 Pasong Tamo Extension, Makati City
Tel. No:  813-2081/5308/5309
Fax No:  893-7195
E-mail Address: srmo@i-next.net
Web site: http://www.srmo-law.com
Auditor: SyCip, Gorres, Velayo & Company
Transfer Agent: Stock Transfer Service, Inc.


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

In this connection, the Exchange announced that a total of 5,432
common shares have been availed of and fully paid by the
optionees under the Company's ESOP.

In view thereof, the listing of the 5,432 common shares is set
for Thursday, November 18, 2004. This brings the number of
common shares listed under the ESOP to a total of 315,788 common
shares.

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

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

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


VICTORIAS MILLING: Releases Amended FY03 Financial Results
----------------------------------------------------------
Victorias Milling Company, Inc. (VMC) provided the Philippine
Stock Exchange a copy of its Amended Annual Report, using SEC
Form 17-A, for the fiscal year ended August 31, 2003.

A copy of VMC's Amended Annual Report shall be made available
for downloading at the PSE website: www.pse.com.ph (under Listed
Companies).

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

CONTACT:

Victorias Milling Co. Inc.
9126 Sultana cor. Honradez Sts.
Barangay Olympia, Makati City
Tel. No/s: 896-0381; 899-0485
Fax No/s: 895-4150
E-mail Address: fal@philonline.com
URL: http://www.victoriasmilling.com
Auditor: Joaquin Cunanan & Company
Transfer Agent: Fidelity Stock Transfer, Inc.


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


GOODWOOD PARK: Unveils 3Q Financial Results
-------------------------------------------
Goodwood Park Hotel Limited posted its third quarter financial
statement at the Singapore Stock Exchange.

The group reduced its cost of sales to SG$15,656 from the
previous SG$21,501 of the same period. Its gross profit
decreased to SG$36,655 as opposed to the profit of SG$43,946 in
the same period.

To view the entire document click on:
http://bankrupt.com/misc/tcrap_goodwoodpark111704.pdf


HARRICK STEEL: Posts Notice of Intended Preferential Dividend
-------------------------------------------------------------
Harrick Steel Fabricators Pte Ltd. posted its intended dividend
notice at the Singapore Government Gazette on November 12, 2004.

Address of Registered Office: Formerly of 2 Finlayson Green
#09-12 Asia Insurance Building
Singapore 049247

Court: Supreme Court, Singapore

Number of Matter: Companies Winding Up No. 122 of 1991

Last Day for Receiving Proofs: 26th November 2004

Name & Address of Liquidator: The Official Receiver
The URA Centre (East Wing)
45 Maxwell Road #06-11
Singapore 069118

Toh Hwee Lian
Senior Assistant Official Receiver


NOVENA HOLDINGS: Notes Change in Shareholder's Interest
-------------------------------------------------------
Novena Holdings Limited released a notice on November 17, 2004,
at the Singapore Stock Exchange pertaining to the change in the
Percentage Level of the Interest of Toh Soon Huat.  

Part I

(1) Date of notice to issuer: November 17, 2004   

(2) Name of Director: Toh Soon Huat  

(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 Deemed Interest: November 17, 2004   

(2) Name of Registered Holder: Kim Eng Securities Pte Ltd   

(3) Circumstance(s) giving rise to the interest or change in
interest Open Market Purchase   
- Please specify details      
  
(4) Information relating to shares held in the name of the
Registered Holder

No. of Shares held before the change 23,786,617   
As a percentage of issued share capital 22.02 %  

No. of Shares which are subject of this notice 30,000   
As a percentage of issued share capital 0.03 %  

Amount of consideration (excluding brokerage and stamp duties)
per share paid or received 0.20   

No. of Shares held after the change 23,816,617   
As a percentage of issued share capital 22.05 %  

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     21,795,495   23,786,617   
As a percentage of issued share capital       20.18%      22.02%  
No. of shares held after the change      21,795,495   23,816,617   
As a percentage of issued share capital       20.18%      22.05%  

Submitted by:
Toh Soon Huat   
Acting Chairman/Chief Executive Officer   


STRATEGIC INTELLIGENCE: Receives Winding Up Order
-------------------------------------------------
In the matter of Strategic Intelligence Holdings Pte Ltd., a
Winding Up Order was made on the 5th day of November 2004.

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

Messrs Colin Ng & Partners
Solicitors for the Petitioner

This Singapore Government Gazette notice is dated November 16,
2004.


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


ASIA HOTEL: SET Receives SEC's Conclusion on Financial Report
-------------------------------------------------------------
The Stock Exchange of Thailand (SET) has posted an NR (Notice
received) sign on the securities of Asia Hotel Public Company
Limited (ASIA) effective from the first trading session of 17
November 2004 to announce that the SET has received the
Securities and Exchange Commission's (SEC) conclusion that it is
not necessary to amend ASIA 's financial statement on the issues
so stated by the Company's auditor.

However, the SET still suspend the trading of security of
ASIA, because the Company still has to prepare a rehabilitation
plan.

Previously, the SET had posted the NP (Notice pending) sign on
ASIA effective from the first trading session of 16 November
2004.  This is because in the Company's reviewed financial
statement for the period ending 30 September 2004 as submitted
to the SET, the Company's auditor was unable to reach any
conclusion on the financial statement and the SET was waiting
for the SEC'S conclusion on this matter.

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


BANGKOK STEEL: SET Posts SP Sign on Securities
----------------------------------------------
Bangkok Steel Public Company Limited submitted to the Stock
Exchange of Thailand (SET) its reviewed financial statement for
the period ending 30 September 2004.

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

Due to these discrepancies, the Securities and Exchange
Commission (SEC) considered requiring the Company to amend its
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 Bangkok Steel on 16 November 2004
to enable shareholders and general investors to have sufficient
time to scrutinize an auditors' report on the review of their
financial statements.

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

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

CONTACT:

Bangkok Steel Industry Public Company Limited   
United Flour Mill Bldg,
205 Rajawong Road,
Samphanthawong Bangkok    
Telephone: 0-2226-0088, 0-2226-0680, 0-2226-6120-29   
Fax: 0-2224-7698, 0-2222-7497   
Web site: www.bangkoksteel.co.th


CAPETRONIC INTERNATIONAL: Securities Suspended from Trading
-----------------------------------------------------------
The Stock Exchange of Thailand (SET) has posted SP (Suspension)
sign to temporarily suspend trading on the securities of
Capetronic International Public Company Limited effective 16
November 2004 because the Company failed to submit its financial
statement for the period ending 30 September 2004 for at least
three consecutive delays.

The SET's Rules stipulate the conditions and procedures for the
temporary prohibition of trading of securities will take effect
on the day that the Company misses the third consecutive
deadline for submitting its financial statements.

CONTACT:

Capetronic International (Thailand) Pcl   
105 Moo 3,Bangna-Trat Road,
Thakham, Bang Pakong Chacherngsao    
Telephone:(038) 573161-72   
Fax: (038) 573173-4


DATAMAT: Issues Further Explanation on 3Q Performance
-----------------------------------------------------
Datamat Public Company Limited submitted to the Stock Exchange
of Thailand its financial statements for the third quarter,
2004, which has been reviewed by the Company's auditor and
approved by the Board of Directors.

The Company wishes to make further explanation to the
performance of the third quarter, in comparison to the third
quarter in year 2003, as follows.

The Company in the third quarter of 2004 made a consolidated net
profit of THB19.9 million or THB0.02 per share, a significant
increase of THB36.9 million or an increase of 216 percent from
the same period in the previous year.

Main reasons for the improvement of Company performance are:

(1) The Company managed to improve gross profit margin
significantly to 35 percent of sales with a cost of sales and
services of 65 percent of total sales and services revenue, as
against a cost of sale and services of 89 percent in the same
period last year.

(2) The Company recognized a gain from sale of investment in
Definitely Corporation of THB35.5 million.

(3) Interest expenses reduced from the same quarter last year of
THB1.7 million, due to repayments to creditors.

As reported in our previous quarterly report, the Company
managed to make higher sales recognition from big system
integration projects which were recognized as per percentage
completion of the work done.  Operational performance of the
group has been progressing well as anticipated.

Sincerely your,
Kusol Sangkananta
Director and Secretary of the Board

CONTACT:

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


SRITHAI FOOD: Applies for Exemption to Submit FS
------------------------------------------------
With reference to the order sent out by the Central Bankruptcy
Court on 3 September 2004, Srithai Food & Beverage Public
Company Limited entered into the reorganization process
according to the Bankruptcy Law.  The Company announced to the
Stock Exchange of Thailand (SET) that it is now under such
reorganization process.  

In this regard, the Company do hereby apply for the exemption
from submission of quarterly financial statements audited by
Certified Public Accountant to Office of Security and Exchange
Commission (SEC) from the quarter of 3/2547 ending at 30
September 2004 onwards whereby it shall prepare financial
reports for the first six months of accounting period including
explanations, financial status analysis and operating results
report to your office according to the Notification No. KorJor.
40/2540, clause 4(1) onwards of which such application for
exemption is pending for consideration from office of SEC.

For your information
Yours sincerely,
(Mr. Wichian Manapongpun)
Vice Company Director

CONTACT:

Srithai Food & Beverage Public Company Limited   
69 Moo 4 Watkingkaew Road,
Rajadhewa, Bang Plee, Samut Prakarn    
Telephone: 0-2312-4281-4, 0-2312-4289-300   
Fax: 0-2312-4285   
Web site: www.srithaifood.thailand.com
  



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

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

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

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

  JAPAN
  -----

Fujitsu Comp Ltd                6719       (-46.88)    316.07

  MALAYSIA
  --------

Faber Group Bhd                 FAB      (-94.49)      388.49
Kemayan Corp Bhd                KOP      (-353.12)      84.89
Panglobal Bhd                   PGL       (-41.07)     187.79
Sri Hartamas Bhd                SHB      (-138.37)      24.48
YCS Corporation Bhd             YCS         28.34      160.27

  PHILIPPINES
  -----------

Pilipino Telephone Co.          PLTL     (-400.56)     115.91


  SINGAPORE
  ---------

Pacific Century Regional
Developments Ltd                 PAC      (-176.29)    1050.46
Informatics Holdings Ltd         INFO        26.82      62.92

  THAILAND
  --------

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






                            *********


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

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

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

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without
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contained herein is obtained from sources believed to be
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subscription or balance thereof are $25 each.  For subscription
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