TCRAP_Public/041125.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

             Thursday, November 25, 2004, Vol. 7, No. 234

                            Headlines

A U S T R A L I A

AL GL: To Face Voluntary Winding Up Proceedings
AIR SAFE: Members Resolve to Wind Up Voluntarily
BALDINA INVESTMENTS: Names Richard James Wishart as Liquidator
DELWORLD PTY: To Undergo Winding Up Process
DURNCO PTY: Final Meeting Slated for November 29

GENERAL GOLD: To Declare Final Dividend on December 8
INTELLECT HOLDINGS: Reaches Agreement to Restructure Debt
JAMES HARDIE: Unions Endorse Global Boycott
JSV INVESTMENTS: Enters Winding Up Proceedings
OSBORNE'S ICEWORKS: Placed Under Voluntary Winding Up

PENELIAN PTY: To Voluntarily Wind Up
PRL PTY: Faces Winding Up Process
PRL SALES: Winds Up Voluntarily
RHW PTY: Voluntarily Winds Up
ROYAL INN: Court Appoints Steven Nicols as Liquidator

TIGER ENGINEERING: To Declare Final Dividend on November 30
VILLAGE ROADSHOW: Boosts Multiplex JV Finance
WHOLESALE RH: To Face Voluntary Winding Up Process
* Former Airlie Beach Accountant Jailed on Fraud Charges


C H I N A  &  H O N G  K O N G

BRILLIANCE CHINA: Auditor's Exit Hurt Shares
GOLDEN STRAW: Creditors Meeting Set December 13
GREATERCHINA TECHNOLOGY: Net Loss Shrinks to HK$51.354 Mln
JAPAN LEASING: Posts Notice of Annual Meetings
KENNING HOLDINGS: Creditors To Prove Debts by December 17

ON FING: Winding Up Order Made
PROWELL SERVICES: Issues Winding Up Notice
SCNIDER LIMITED: Court to Hear Bankruptcy Petition December 22
TOPO TECHNOLOGY: Releases Winding Up Notice


I N D O N E S I A

PERTAMINA: To Begin LPG Price Hike
PERTAMINA: To Get Update on Loan Disbursement by End of 2004
PERUSAHAAN LISTRIK: In Dispute Over Santos Gas Deal
SEMEN GRESIK: Unveils 2003 Financial Report
SEMEN GRESIK: Government Hopes For Out-of-Court Settlement


J A P A N

KOKUDO CORPORATION: New Chief Vows to Overhaul Seibu Group
MITSUBISHI MOTORS: Boosts Cooperation with Hunan Changfeng Motor
TOKAI ALUMINUM: Seeks JPY2.5-Bln in Financial Aid
UFJ HOLDINGS: Teams Up with Brazilian Bank
UFJ HOLDINGS: MTFG Counsel Defends Merger Deal


K O R E A

LG CARD: Creditors In Talks on Another Capital Infusion
THRUNET COMPANY: Dacom, Citigroup Most Likely to Join Forces


M A L A Y S I A

ACTACORP HOLDINGS: SC Rejects Restructuring Proposal
AMSTEEL CORPORATION: Details Debt Restructuring Exercise
AMSTEEL CORPORATION: Releases FY04 Unaudited Quarterly Results
CEPATWAWASAN GROUP: Issues Litigation Update
K&N KENANGA: Posts FY04 Unaudited Quarterly Results

KUMPULAN BELTON: Issues Default Status Update
LIEN HOE: Reveals Unaudited Quarterly Results
MALAYAN UNITED: Unveils FY04 Unaudited Quarterly Results
MALAYSIA PACIFIC: Discloses Unaudited Quarterly Results
PSC INDUSTRIES: Details Restructuring Proposal

SILVERSTONE CORPORATION: Updates Debt Restructuring Scheme
SILVERSTONE CORPORATION: Unveils November 23 AGM Results
SRIWANI HOLDINGS: Court To Clarify Injunction Matters
TT RESOURCES: Narrows 3Q/FY04 Net Loss to MYR436,000
TALAM CORPORATION: EGM Set For December 8

WCT ENGINEERING: Enters Into Share Sale Agreement With UOB


P H I L I P P I N E S

BAYAN TELECOM: To Expand Visayas, Mindanao Services
METRO PACIFIC: New PSE Unit Probes Deals
PHILIPPINE BANK: Reverses Losses, Posts Php13.7-Mln Profits


S I N G A P O R E

ADVERTISING AGENCY: Posts Intended Preferential Dividend Notice
JADE TECHNOLOGIES: Unveils Half-year, Full-year Results
PANPAC MEDIA: Terminates Acquisition Agreement
WEARNES INTERNATIONAL: Reveals Full-year Financial Results
WEE POH: Answers Shareholders' Queries


T H A I L A N D

ABICO HOLDINGS: Informs SET of Creditors' Meeting Results
DATAMAT: Unveils Results of Extraordinary Shareholders' Meeting
THAI GERMAN: Reduces Registered, Paid-up Capital
THAI GERMAN: Completely Changes Par Value Under Rehab Scheme
TONGKAH HARBOUR: Releases List of 2005 Annual Holidays

     -  -  -  -  -  -  -  -

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


AL GL: To Face Voluntary Winding Up Proceedings
-----------------------------------------------
At a general meeting of the members of AL GL Pty Ltd A.C.N. 076
129 201 (In Liquidation) held concurrently at 286 Horsley Road,
Milperra, NSW 2214 on 11 October 2004, special resolutions that
the Company be wound up voluntarily were passed.

David Clement Pratt
Simon John Cathro
Liquidator
Level 8, 201 Sussex Street,
Sydney NSW 1171


AIR SAFE: Members Resolve to Wind Up Voluntarily
------------------------------------------------
At a general meeting of the members of Air Safe Australia Pty
Ltd A.C.N. 078 880 681 (In Liquidation) held concurrently at 286
Horsley Road, Milperra, NSW 2214 on 11 October 2004, special
resolutions that the Company be wound up voluntarily were
passed.

David Clement Pratt
Simon John Cathro
Liquidator
Level 8, 201 Sussex Street,
Sydney NSW 1171


BALDINA INVESTMENTS: Names Richard James Wishart as Liquidator
--------------------------------------------------------------
At a General Meeting of Baldina Investments Pty Ltd (In
Voluntary Liquidation) A.C.N. 007 656 091 held on the 8th of
October 2004 at Level 3, 27 Leigh Street, Adelaide in the State
of South Australia, the following Special Resolution was duly
passed:

(1) That the Company be wound up voluntarily, and that Richard
James Wishart, Chartered Accountant of Level 3, 27 Leigh Street,
Adelaide be appointed Liquidator for the purpose of such winding
up, and

(2) After the satisfaction of all creditors' claims, costs of
winding up and Liquidator's fees, to sanction the distribution
of the assets of the Company, by the Liquidator, in specie as
between the members and further, that such values and specific
modes of distribution to be all as determined by the Liquidator
whose decision shall be final and binding.

Dated this 8th day of October 2004

Basil A. Kelly
Director


DELWORLD PTY: To Undergo Winding Up Process
-------------------------------------------
Take notice that at a Meeting of Members of Delworld Pty Ltd
duly convened and held at the offices of Melsom Robson, 241
Stirling Street, Perth on Monday, the 11th of October 2004, it
was resolved that the Company be wound up voluntarily and that
E.R. Verge and G.A. Lopez be appointed the Joint and Several
Liquidators.

At a meeting of creditors also held on the 11th of October 2004,
the appointment of Messrs Verge and Lopez as Joint and Several
Liquidators was confirmed.

Dated this 11th day of October 2004

A.A. Newbury
Director
Melsom Robson
Chartered Accountants
Colmel House, 241 Stirling Street,
Perth WA 6000


DURNCO PTY: Final Meeting Slated for November 29
------------------------------------------------
Notice is hereby given that a final combined meeting of the
members and creditors of Durnco Pty Ltd (In Liquidation) A.C.N.
089 002 782 will be held at the offices of Knights Insolvency
Administration, Level 27, The Chifley Tower, 2 Chifley Square,
Sydney on 29 November 2004 at 10:00 a.m.

AGENDA

(1) To receive an account made up by the Liquidator showing how
the winding up has been conducted and how the property of the
Company has been disposed of, and to receive any explanation
required thereof.

(2) Any other business, which may be lawfully considered with
the foregoing.

Dated this 12th day of October 2004

Adrian S. Duncan
Liquidator
Level 27, The Chifley Tower,
2 Chifley Square Sydney
NSW 2000


GENERAL GOLD: To Declare Final Dividend on December 8
-----------------------------------------------------
A first and final dividend is to be declared on 8 December 2004
in respect of unsecured creditors of General Gold Operations Pty
Ltd (Subject To Deed Of Company Arrangement) (GGO) A.C.N. 086
085 878 whose claims (as defined under the GGO Deed of Company
Arrangement) are more than AU$100,000.

Creditors whose debts or claims are more than AU$100,000 that
have not already been admitted were required on 9 November 2004
formally to prove their debts or claims. If they did not, they
would be excluded from the benefit of the dividend.

Dated this 19th day of October 2004

Mel Ashton
Deed Administrator
PPB
Level 1, 5 Mill Street,
Perth WA 6000


INTELLECT HOLDINGS: Reaches Agreement to Restructure Debt
---------------------------------------------------------
Intellect Holdings Limited (IHG) announced in a disclosure to
the Australian Stock Exchange (ASX) that it has reached in
principle agreement to restructure its existing debt, subject to
shareholder approval, and details of a proposed fully
underwritten renounceable rights issue to raise AU$18.14
million, as foreshadowed by the Company on October 1,2004.

The Notice of Meeting for the Company's Extraordinary General
Meeting (EGM), which is to be held on December 23, 2004, will
seek shareholder approval to the issue of shares to creditors
and convertible notes to replace short-term debt.  A copy of the
notice has been lodged with ASX separately on Wednesday.

Immediately following the EGM, and subject to shareholder
approval to the share and convertible note issues, the Company
intends to proceed with a renounceable rights issue to all
shareholders (excluding the shares to be issued to the banks and
major creditors) and the convertible noteholders offering 14 new
shares for every 10 shares (or share equivalents) held at the
record date at an issue price of 2.5 cents per share to raise
AU$18.14 million, Patersons Securities Limited intends to fully
underwrite the issue.

Proceeds from the rights issue will be used to settle the bank
and other creditor debt and provide working capital to allow the
Company to meet its substantial order book from major customers
globally.

Following completion of the rights issue, the debt restructure
and the recent TAFMO spin off, the Company will have a
significantly improved balance sheet.

The pro forma balance sheet immediately following the rights
issue is expected to show net assets increasing to approximately
AU$24.367 million or 1.95 cents per share.  The Company will
have cash reserves estimated at AU$17.2 million and the ability
to fulfill its order backlog.

Dr. Jos Haag, the chairman of Intellect, said that the
restructure and rights issue would see intellect emerge as a
vastly stronger Company.

To view a full copy of the disclosure, click
http://bankrupt.com/misc/INTELLECTHOLDINGS112404.pdf

CONTACT:

Intellect Holdings Limited
Level 3 , 554 Church Street ,
Richmond , Victoria,
Australia, 3121  
Telephone: (03) 9426 9000  
Fax: (03) 9426 9099  
Web site: http://www.intellect.com.au/


JAMES HARDIE: Unions Endorse Global Boycott
-------------------------------------------
Delegates at the Global Asbestos Congress backed calls for an
international ban on James Hardie Industries products, says the
Australian Financial Review.

Representatives from 40 countries yesterday endorsed a global
ban on James Hardie goods, a day after the Company warned that
boycotts in Australia were beginning to hurt its sales.

The Construction Forestry Mining and Energy Union said the
delegates approved a resolution that accused James Hardie of
misusing corporate law to deny compensation to asbestos victims.

The 1000 delegates who passed the resolution will now push for
boycotts in their home countries.

The embattled building materials Company is in negotiations with
union and asbestos victims' groups to find a solution to a AU$A1
billion (US$781.8 million) plus shortfall in funds to compensate
people sickened by the Company's products.

Meanwhile, the foundation that pays out compensation to James
Hardie's victims that it hasn't reached a decision yet whether
it would go into liquidation, a situation that could force
reduced compensation payouts to victims.

The Medical Research and Compensation Foundation was given until
today to make its decision, when it is due to report its
financial situation to the NSW Supreme Court.

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


JSV INVESTMENTS: Enters Winding Up Proceedings
----------------------------------------------
Take notice that at a Meeting of Members of JSV Investments Pty
Ltd duly convened and held at the offices of Melsom Robson, 241
Stirling Street, Perth on Thursday, 7 October, 2004, it was
resolved that the Company be wound up voluntarily and that P.M.
Melsom, G.A. Lopez and E.R. Verge be appointed the Joint and
Several Liquidators.

At a meeting of creditors also held on 7th October 2004, the
appointment of Messrs Melsom, Lopez and Verge as Joint and
Several Liquidators was confirmed.

Dated this 7th day of October 2004

V.A. Randell
Director
Melsom Robson
Chartered Accountants
Colmel House, 241 Stirling Street,
Perth WA 6000


OSBORNE'S ICEWORKS: Placed Under Voluntary Winding Up
-----------------------------------------------------
Notice is hereby given that an extraordinary general meeting of
members of Osborne's Iceworks Pty Ltd A.C.N. 007 549 573 was
held on the 30th of September 2004 at which it was resolved that
the Company be wound up voluntarily and that Dean G. Scott of D
G Scott & Co, Chartered Accountants of 2nd Floor Dowie House,
83-89 Currie Street Adelaide, South Australia 5000 be appointed
liquidator.

Dated this 30th day of September 2004

D.G. Scott
Liquidator
D.G. Scott & Co.
2nd Floor 83-89 Currie Street,
Adelaide SA 5000


PENELIAN PTY: To Voluntarily Wind Up
------------------------------------
At a general meeting of Penelian Pty Ltd A.C.N. 008 690 784,
duly convened and held at 14 Albert Street, Claremont on 5
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 8th day of October 2004

Alan R. Crawford
Liquidator
Stirling Partners
Chartered Accountants
First Floor, 278 Stirling Highway
Claremont WA 6010


PRL PTY: Faces Winding Up Process
---------------------------------
At a general meeting of the members of PRL Pty Ltd A.C.N. 004
321 493 (In Liquidation) held concurrently at 286 Horsley Road,
Milperra, NSW 2214 on 11 October 2004, special resolutions that
the Company be wound up voluntarily were passed.

David Clement Pratt
Simon John Cathro
Liquidator
Level 8, 201 Sussex Street,
Sydney NSW 1171


PRL SALES: Winds Up Voluntarily
-------------------------------
At a general meeting of the members of PRL Sales Pty Ltd A.C.N.
004 510 730 (In Liquidation) held concurrently at 286 Horsley
Road, Milperra, NSW 2214 on 11 October 2004, special resolutions
that the Company be wound up voluntarily were passed.

David Clement Pratt
Simon John Cathro
Liquidator
Level 8, 201 Sussex Street,
Sydney NSW 1171


RHW PTY: Voluntarily Winds Up
-----------------------------
At a general meeting of the members of RHW (SA) Pty Ltd A.C.N.
007 692 293 held concurrently at 286 Horsley Road, Milperra, NSW
2214 on 11 October 2004, special resolutions that the Company be
wound up voluntarily were passed.

David Clement Pratt
Simon John Cathro
Liquidator
Level 8, 201 Sussex Street,
Sydney NSW 1171


ROYAL INN: Court Appoints Steven Nicols as Liquidator
-----------------------------------------------------
On the 12th of October 2004, the Supreme Court of New South
Wales Equity Division made an Order that Royal Inn Hotel
(Waratah) Pty Ltd (In Liquidation) A.C.N. 089 390 385 be wound
up by the Court and appointed Steven Nicols to be Liquidator.

Steven Nicols
Level 2, 350 Kent Street,
Sydney NSW 2000


TIGER ENGINEERING: To Declare Final Dividend on November 30
-----------------------------------------------------------
A first and final dividend is to be declared on 30 November 2004
for Tiger Engineering Pty Ltd (In Liquidation) A.C.N. 009 410
477.

Creditors whose debts or claims have not already been admitted
were required on 16 November 2004 formally to prove their debts
or claims. If they did not, they would be excluded from the
benefit of the dividend.

Dated this 11th day of October 2004

Chris Munday
Joint and Several Liquidator
Pitcher Partners
10 Ord Street, West Perth WA 6005
Telephone: (08) 9322 2022,
Facsimile: (08) 9322 1262


VILLAGE ROADSHOW: Boosts Multiplex JV Finance
---------------------------------------------
On 29 September 2004, Village Roadshow Ltd (VRL) announced that
it had completed negotiations for an AU$60 million finance
facility led by ANZ Bank for the Company's interest in its
Australian Multiplex Joint Venture with Greater Union.

On 18 October 2004, VRL announced that it was seeking a further
AU$20 million under the facility and discussions with ANZ were
continuing to progress.

VRL announces that it has yesterday received commitments for a
further AU$20 million taking the facility limit up to AU$80
million. Part of this total facility will be drawn down to
assist in the funding of the current Ordinary Share buy back.

The Australian cinema facility is for a fixed term of 5 years,
with semi-annual principal reductions of AU$5 million commencing
June 2006 and a bullet of AU$45 million at the end of 5 years.

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/


WHOLESALE RH: To Face Voluntary Winding Up Process
--------------------------------------------------
At a general meeting of the members of Wholesale Rh Pty Ltd
A.C.N. 062 678 906 held concurrently at 286 Horsley Road,
Milperra, NSW 2214 on 11 October 2004, special resolutions that
the Company be wound up voluntarily were passed.

David Clement Pratt
Simon John Cathro
Liquidator
Level 8, 201 Sussex Street,
Sydney NSW 1171


* Former Airlie Beach Accountant Jailed on Fraud Charges
--------------------------------------------------------
Mr. Andrew James McKenzie, a 37-year-old former accountant from
Airlie Beach in Queensland, has been sentenced in the Mackay
District Court on nine charges brought by the Australian
Securities and Investments Commission (ASIC).

Mr. McKenzie, an undischarged bankrupt from Mackay Queensland,
was on Wednesday sentenced to four years imprisonment for
dishonestly applying funds. Judge Forde ordered that he be
recommended for parole after serving 16 months. Mr. McKenzie was
also sentenced to 16 months imprisonment, to be served
concurrently, for dishonestly using his position.

On 19 July 2004, Mr. McKenzie pleaded guilty to five counts of
dishonestly applying an additional total of $375,000 from the
trustee companies and Airlie Investment Corporation Pty Ltd
(Airlie Investment Corporation), for his personal use and by AJM
and Goldsky Holdings.

Also on 19 July 2004, Mr. McKenzie pleaded guilty to four counts
of dishonestly using his position as a director of Airlie
Properties Pty Ltd (Airlie Properties) and Cannonvale Markets
Pty Ltd (Cannonvale Markets). Each of these companies was a
trustee of various property investment unit trusts (the trustee
companies).

During 2001, Mr. McKenzie sold the various syndicated
properties, either wholly or in part, to several purchasers
without the prior approval of the unit holders. Only some of the
investors received a share of the profits from Mr. McKenzie.

Mr. McKenzie dishonestly used his position in the trustee
companies to gain a financial advantage of $595,000 for a number
of additional companies of which he was a director. The
companies included AJM Management and Consultancy Pty Ltd (AJM),
Goldsky Holdings Pty Ltd (Goldsky Holdings) and Landmark
Property Syndicates.

In 2002, Airlie Investment Corporation, Airlie Properties, and
Cannonvale Markets were placed into administration and/or
liquidation.

"ASIC will ensure that Company directors who dishonestly use
funds raised from investors, in good faith, are brought before
the Courts for appropriate punishment. The Courts treat acts of
dishonesty very seriously, and as this case shows, the
consequences of such offences can include significant jail
time," ASIC Deputy Executive Director of Enforcement, Mr. Allen
Turton said.

The matter was prosecuted by the Commonwealth Director of Public
Prosecutions.


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C H I N A  &  H O N G  K O N G
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BRILLIANCE CHINA: Auditor's Exit Hurt Shares
--------------------------------------------
Investors rushed to dump shares of Brilliance China Automotive
Holdings following the surprise exit of the firm's auditor,
PricewaterhouseCoopers (PwC) three weeks ago, according to The
Standard.

Speculations emerged that the Shanghai-based carmaker might be
in financial trouble. The rumors drove Brilliance China's share
price down by 10.86 per cent, or HK$0.19 to close at HK$1.56,
against a 0.1 per cent gain in the benchmark Hang Seng Index.

Brilliance, who also assembles BMW automobiles, announced last
Friday PwC that November 2 was the actual date of resignation of
the auditing firm. The Company also added that its 2004 earnings
have yet to be audited.

This would not be the first time that Brilliance China got
embroiled in controversy as last August four top executives
reportedly resigned.

Yang Rong the carmaker's chairman and chief executive fled to
the United States last June 202 when it was learned that he was
to be replace from his position due to a conflict over control
of the Company assets, later Yang was charged with unspecified
economic crimes and has countered with a civil suit to recover
seized assets. But in between controversy, the Company managed
to become the first mainland Company to list on the New York
Stock Exchange in 19994.

The trend of auditors and legal advisers resigning from listed
mainland companies due to the unwillingness of firms to pay for
quality services has been on the rise since mainland enterprise
made their presence felt. This is trend that not only happens to
small firms, as China's biggest general insurer, PICC Property
and Casualty Company appointed Ernst & Young as replacement for
KPMG four months after it listed on the main board because due
to consensus on the auditors' remuneration.


GOLDEN STRAW: Creditors Meeting Set December 13
-----------------------------------------------
Notice is hereby given that a meeting of the creditors of Golden
Straw Hotpot Restaurant Limited will be held at Unit 1602-3,
16th Floor, Yue Xiu Building, 160-174 Lockhart Road, Wanchai,
Hong Kong on 13 December 2004 at 10:00 a.m. for the purposes
provided for in Sections 241, 242, 243, 244, 255A and 283 of the
Companies Ordinance.

Creditors may vote either in person or by proxy.  Forms of proxy
to be used at the meeting may be obtained from the above-
mentioned address and must be lodged at the said address not
later than 4:00 p.m. on the day before the meeting or adjourned
meeting at which they are to be used.

Dated this 19th day of November 2004

Wu Wing Cheung, Hyphen
Director


GREATERCHINA TECHNOLOGY: Net Loss Shrinks to HK$51.354 Mln
----------------------------------------------------------
GreaterChina Technology Group Limited posted a net loss of
HK$51.354 million for the financial year ended July 31, compared
with the net loss of $129.226 million for the preceding
financial year. LPS was HK$0.063.

No final dividend was declared.

To see the entire article click on:
http://bankrupt.com/misc/tcrap_greaterchinatecnology112404.pdf


JAPAN LEASING: Posts Notice of Annual Meetings
----------------------------------------------
Notice is hereby given that pursuant to Section 247 of the
Companies Ordinance, Annual Meetings of the members of Japan
Leasing (Hong Kong) Limited will be held at 27th Floor,
Alexandra House, 16-20 Charter Road, Central, Hong Kong on the
8th day of December 2004 at 10:30 a.m.

The meeting will be followed by a meeting of the creditors of
the Company to be held at the same place at 11:00 a.m. for the
purpose of receiving an account of the liquidator's act and
dealings and of the conduct of the winding up of the Company
during the year to 30 September 2004.

A member or creditor entitled to attend vote at the above
meeting may appoint proxy to attend and vote instead of him. A
proxy need not be a member or creditor of the Company. Forms of
proxies for both meetings must be lodged at 27th Floor,
Alexandra House, 16-20 Charter Road Central, Hong Kong not later
than 4:00 p.m. on Tuesday, 7 December 2004.

Dated this 19th day of November 2004

Gabriel Ck Tam
Joint and Several Liquidator


KENNING HOLDINGS: Creditors To Prove Debts by December 17
---------------------------------------------------------
Notice is hereby given that the Creditors of Kenning Holdings
Limited, which is being voluntarily liquidated, are required on
or before the 17th day of December 2004 to send their names,
addresses and descriptions, full particulars of their debts or
claims, as well as the names and addresses of their solicitors
(if any) to the undersigned.

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

Dated this 11th day of November 2004

Lai Sin Tong, Thomas
Liquidator
28th Floor, Times Tower
393 Jaffe Road, Wanchai
Hong Kong


ON FING: Winding Up Order Made
------------------------------
On Fing Engineering Company Limited released a winding up notice
on The Standard on November 19, 2004.

Registered Office / Principal Place of Business: Rms 1552-1553,
15/F, Sui Fai Factory Est, 5-13 Shan Mei St, Fo Tan,
Shatin, Nt

Date of order: 10th November 2004

Date of Presentation of Petition: 4 October 2004

E T O'CONELL
Official Reciever


PROWELL SERVICES: Issues Winding Up Notice
------------------------------------------
Prowell Services Limited issued a winding up notice at The
Standard on November 19, 2004.

Registered Office / Principal Place of Business: 1/F, Lucky
Bldg, 39 Wellington St, Central, Hk

Date of Order: 10 November 2004

Date of Presentation of Petition: 4 October 2004

E T O'CONELL
Official Reciever


SCNIDER LIMITED: Court to Hear Bankruptcy Petition December 22
--------------------------------------------------------------
Notice is hereby given that a Petition for the Winding Up of
Scnider Limited by the High Court of Hong Kong Special
Administrative Region was on the 8th day of November 2004
presented to the said Court by Cit Financial (Hong Kong)
Limited, a Company incorporated in Hong Kong and carrying on
business at Suite 4301-5, RBS Tower, Time Square, 1 Matheson
Street, Causeway Bay, Hong Kong.

The said Petition will be heard before the Court at 9:30 a.m. 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.

Deacons
Solicitors for the Petitioner
5th Floor, Alexandra House
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 21st day of
December 2004.


TOPO TECHNOLOGY: Releases Winding Up Notice
-------------------------------------------
Topo Technology Trading Company Limited released a winding up
notice at The Standard on November 19, 2004.

Registered Office / Principal Place of Business: 12th Floor,
O.T.B. Bldg, 259-265 Des Voeux Rd, Central, Hk

Date of Order: 10 November 2004

Date of Presentation of Petition: 23 September 2004

E T O'CONELL
Official Reciever


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PERTAMINA: To Begin LPG Price Hike
----------------------------------
State oil and gas firm PT Pertamina will begin to raise the
price of liquefied petroleum gas (LPG) in the wake of the global
oil price hike, according to Asia Pulse.

Pertamina General Manager A. Faisal explained the price hike,
which is needed to offset losses in its LPG venture, will be
carried out in three phases.

The Company will still suffer a loss of around IDR820 per kg. in
the first phase, as the price hike will not be enough to cover
the surge in the price of gas.

However, the Company hopes to chalk up profits in the next two
phases.

The selling price of LPG by Pertamina is still lower than the
selling prices in other countries such as Vietnam, Malaysia, the
Philippines and Pakistan.

CONTACT:

PT Pertamina Tbk
Jalan Merdeka
Timur No. 1 A
Jakarta 10110
Phone: (62)(21) 3815111
Fax: 3846865/ 3843882
Web site: www.pertamina.com


PERTAMINA: To Get Update on Loan Disbursement by End of 2004
------------------------------------------------------------
The government might obtain information regarding the
disbursement of US$300-million loan to PT Pertamina by the end
of this year, Antara reports, quoting Minister of State
Enterprises Sugiharto.

Standard Chartered Bank, Bank Central Asia and Citibank have
granted the state oil and gas firm a total of US$500 million
loans. Of the total loan, US$200 million was already given to
Pertamina, while the remaining US$300 million is yet to be
disbursed.

The fund-facility will be used to secure domestic fuel oil
supplies.

Minister Sugiharto admitted that Pertamina has been facing
financial crisis due to soaring oil prices in the international
market, U.S. dollar appreciation, and the government-mandated
task to secure national fuel oil supply.

Also contributing to Pertamina's plight are annual losses worth
around IDR1.3 trillion in non-fuel businesses such as
Pertamax/Plus, LPG, Avtur and others.


PERUSAHAAN LISTRIK: In Dispute Over Santos Gas Deal
---------------------------------------------------
PT Perusahaan Listrik Negara (PLN) is in dispute with Australian
gas firm Santos Limited over a natural gas supply agreement,
Reuters says.

PLN Director Ali Herman confirmed the Indonesian Company is
still in talks with Santos on financial issues regarding gas
supply in East Java.

"We want an acceptable price," Mr. Ibrahim stressed.

In 2003, PLN inked a deal under which Santos would supply
between 40 million and 60 million cubic feet of natural gas
daily to PLN for a period of 10 years starting from 2005.
However, the dispute could hinder the deal's implementation.

The gas is destined for an 800-megawatt power plant in Grati,
East Java, which is currently using fuel oil.

CONTACT:

PT Perusahaan Listrik Negara (Persero)
Jalan Trunojoyo Blok M I No. 135, Kebayoran Baru
Jakarta, 12160, Indonesia
Phone: +62-21-725-1234
Fax: +62-21-722-1330
Web site: http://www.pln.co.id


SEMEN GRESIK: Unveils 2003 Financial Report
-------------------------------------------
PT Semen Gresik finally released its financial statement for
fiscal 2003 after a long delay in filing its audited accounts,
according to Dow Jones.

For the full year ending Dec. 2003, the Company booked a net
profit of IDR378.84 billion from IDR151.28 billion in 2002.
Sales rose to IDR5.45 trillion from IDR5.17 trillion.

Problems with its unit, PT Semen Padang, resulted in the
postponement of Semen Gresik's account filing.

Last year, the local management of Semen Padang barricaded their
offices and refused to hand over 2002 financial statements,
while demanding to be spun off from the rest of Semen Gresik.

In September 2003, Semen Gresik managed to regain control of its
rebellious unit after a local Court ordered Semen Padang's
management to leave the Company.

To view the Company's financial report, click on:
http://bankrupt.com/misc/TCRAP_SEMENGRESIK112404.pdf  

CONTACT:

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


SEMEN GRESIK: Government Hopes For Out-of-Court Settlement
----------------------------------------------------------
The government is bullish Mexican cement maker Cemex SA will
agree to settle out of Court the dispute over the purchase of
majority stake in PT Semen Gresik, according to AFX News.

Coordinating Minister of Economic Affairs Aburizal Bakrie said
the Indonesian state is hopeful there will be no arbitration,
noting the government will consider some alternatives proposed
by Cemex. He did not give further details.

The dispute sparked after Cemex failed to acquire another 51-
percent stake in Semen Gresik from the government as part of a
put-option deal signed at the time it purchased a 25.5-percent
stake back in 1998.

The prolonged uncertainty surrounding the sale prompted Cemex to
file an arbitration petition against the government at the
International Center for Settlement of Investment Disputes in
Washington last year.


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


KOKUDO CORPORATION: New Chief Vows to Overhaul Seibu Group
----------------------------------------------------------
Kokudo Corporation's new president pledged to build a new Kokudo
and clean up its scandal-mired unit, Seibu Railway, says The
Japan Times.

Kokudo President Toshiyuki Ono has vowed to break free from the
traditional ways by which former chief Yoshiaki Tsutsumi, who
stepped down Oct. 13, had ran the Company for decades.

Last week, the Tokyo Stock Exchange opted to delist shares of
Seibu Railway on Dec. 17 after discovering the Company had been
tampering with its shares-ownership reports for nearly 50 years,
under the direction of Kokudo.

Most of the 70 companies who recently bought Seibu Railway
shares from Kokudo are now demanding the Company to buy them
back.

Meanwhile, an advisory panel of outsiders tasked with reviewing
the Seibu group's entire operation held its first meeting
Monday.


MITSUBISHI MOTORS: Boosts Cooperation with Hunan Changfeng Motor
----------------------------------------------------------------
Mitsubishi Motors Corporation (MMC) has entrusted the production
of its new Pajero model to its Chinese partner Hunan Changfeng
Motor, according to Sinocast.

According to sources, the move is part of MMC's efforts to
survive by expanding the production and sales in other Asian
countries amid slumping sales in Japan.

In order to bolster business opportunities in China, ailing MMC
plans to up its investment ratio in Hunan Changfeng from 16
percent in March to 50 percent in the future.

Currently, the Chinese firm is selling the old Pajero model
named Leopard.

It is believed that MMC will launch in China the model produced
and sold in Japan now under its own brands.

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


TOKAI ALUMINUM: Seeks JPY2.5-Bln in Financial Aid
-------------------------------------------------
Tokai Aluminum Foil Company has requested its main lender, Bank
of Yokohama, for a JPY2.5 billion financial aid as the Company
fell into negative net worth at the end of September, reports
Jiji Press.

The Yokohama-based Company seeks for an assistance consisting of
a debt waiver totaling JPY2.3 billion and the conversion of debt
JPY200 million into shares in the Company.

Niipon Light Metal Company, Tokai Aluminum's top shareholder,
was also asked to purchase up to JPY1.3 billion of new shares.

Bank of Yokohama and Nippon Light have confirmed they have
agreed to grant Tokai's Aluminum's requests for monetary
support.

Tokai Aluminum tallied a group net loss of JPY4,349 million, and
reported a negative net worth amounting to JPY3.8 billion as of
Sept. 30. The Company also incurred an extraordinary loss of
JPY5,744 million for the first half because it employed
impairment accounting rules on fixed assets before the mandatory
introduction deadline.

CONTACT:

Tokai Aluminum Foil Co. Ltd.
Tokaipuraza5f, 21, Kitasaiwai, Nishi-Ku
Yokohama, Kanagawa, 220-0004
Phone: 0453138313
Fax: 0453138310  


UFJ HOLDINGS: Teams Up with Brazilian Bank
------------------------------------------
UFJ Holdings Incorporated has forged an agreement with Brazil's
Bradesco to offer financial services to Brazilians living and
working in Japan, Reuters reports.

The partnership will extend services such as checking accounts,
wire transfers and other banking services to around 300,000
Brazilians working in Japan.

Through the joint venture, Bradesco hopes to obtain larger
shares of the wire transfer market as the generally underbanked
Brazilian population spends approximately US$12 billion annually
for consumption, investment and wire transfers back home.

Bradesco and UFJ have shelled out US$20 million to set up a
service in UFJ's network across Japan.

CONTACT:

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


UFJ HOLDINGS: MTFG Counsel Defends Merger Deal
----------------------------------------------
The chairman of the law firm representing Mitsubishi Tokyo
Financial Group (MTFG) in its proposed business integration with
UFJ Holdings Incorporated has strongly defended the deal,
according to the Financial Times.

Chairman Rodgin Cohen of Sullivan & Cromwell refuted a paper by
Lawyer Stephen Givens, which argued that a U.S. Court would rule
UFJ's tactics were "illegal and invalid and UFJ's directors
would be liable to shareholders for breach of fiduciary duty".

MTFG and UFJ have already inked a basic accord to form the
world's largest banking group in terms of assets. However,
several UFJ shareholders have criticized UFJ's decision to
refuse a rival offer from Sumitomo Mitsui Financial Group (SMFG)
and the terms of certain deal protection features.

Earlier, SMFG offered a one-for-one share exchange valuing UFJ
at US$30 billion, while MTFG will wait until next year to
disclose its merger ratio. IF UFJ shareholders approve SMFG's
offer, MTFG will receive US$2 billion in compensation.

According to Mr. Cohen, criticism of the merger deal was
"fundamentally mistaken" and failed to take into account the
circumstances of MTFG's JPY700-billion (US$6.8 billion) capital
infusion into UFJ. He also stressed MTFG's deal protection
features do not violate any U.S. laws.

SMFG may launch a proxy fight to convince UFJ's shareholders to
reject MTFG's offer when they meet in June, part of which could
involve convincing UFJ's shareholders to take legal action.


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


LG CARD: Creditors In Talks on Another Capital Infusion
-------------------------------------------------------
The slow recovery of LG Card Co. after a KRW5-trillion infusion
of fresh funds in January would result to a tough negotiations
between LG Group and reluctant lenders on its planned provision
of additional funds, reports The Korea Herald.

Creditors of LG Card have begun talks to provide additional
funds for the near-bankrupt Company.  Last week, they concluded
that the Company needs KRW1.2 trillion and a 5.7 to 1 capital
write-down to stay listed on the Korea Stock Exchange.

"Following the evaluation, (main creditor) Korea Development
Bank (KDB) has been mediating between other creditors regarding
their possible contributions," said Park Nam-tae of Kookmin
Bank's workout team.  However Mr. Park did not disclose whether
Kookmin is willing to provide more assistance.

During the run-up to January's bailout, Kookmin Bank was most
vocal in opposing the government-engineered rescue program.  It
agreed to join the package only after attaching the condition
that lenders other than the state-run KDB be exempt from
providing additional aid.

Ku Yong-uk a credit-card sector analyst at Daewoo Securities Co.
said LG Card will have to go through a pretty tough negotiation.  
Its creditors will probably push LG Group to contribute as much
as possible so they can minimize their loads.

LG Group affiliates hold KRW1.18 trillion in bonds issued by LG
Card, while KDB wants them to swap KRW875 billion for equity.
But the LG Group is reportedly against carrying out such a large
debt-equity swap.

The issuer reported a third-quarter loss of KRW46.8 billion,
compared to a KRW270-billion loss in the year-earlier period.
Its delinquency rate is still higher than the industry average
at near 17 percent.

LG Card estimates its net loss to reach around KRW900 billion in
2004, less than an earlier forecast thanks to cost-cutting
measures and improved asset quality.

Deloitte & Touche LLP, which was hired by creditors to evaluate
LG Card's financial status, suggested that the Company write
down 82.5 percent of its outstanding shares and get KRW1.2
trillion in new capital in order to keep its shares tradable.

According to Ri Chae-won, a financial analyst at Goodmorning
Shinhan Securities Co., the improvement in LG Card's financial
health will help lenders believe that this will be the last
bailout and encourage them to think positively.

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
Website: http://www.hanaro.com


THRUNET COMPANY: Dacom, Citigroup Most Likely to Join Forces
------------------------------------------------------------
Dacom Corporation is in talks with a unit of Citigroup to
discuss on a joint bid for Thrunet Company, reports Asia Pulse.

"Citigroup has proposed us to join hands for the Thrunet
acquisition and we reviewed the offer positively," Ko Yeon-soon,
a Dacom spokesman, was quoted as saying.

Hanaro Telecom, Dacom Corp. and the Citigroup unit Citigroup
Financial Products Inc. have submitted their letters of intent
to creditors of Thrunet for a second tender to sell the heavily
indebted broadband Internet operator.

According to a recent report by TCR-Asia Pacific, Hanaro
questioned if Citigroup is qualified to bid for Thrunet.

"It seems inappropriate that a foreign fund with short-term
investment purpose reviews Thrunet's financial data for KRW5.5
million (US$4,980)," according to Oh Dong-joon, a spokesman at
Hanaro Telecom.

CONTACT:

Thrunet Co. Ltd.
Address:  1337-20 Seocho-2dong, Seochu-ku
Seoul 137-751, South Korea  
Phone: +82-2-3488-8114
Fax: +82-2-3488-8770


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


ACTACORP HOLDINGS: SC Rejects Restructuring Proposal
----------------------------------------------------
Actacorp Holdings Berhad (AHB) announced that as a result of the
rejection by the Securities Commission (SC) in respect to its
Proposed Restructuring Scheme, the Company agreed to rescind the
following:

i) Conditional Share Sale Agreement (CSSA) between AHB and PSC
Industries Berhad (PSCI) dated 27 December 2002, where the
condition precedent as set out in Clause 4.1 (b) which includes
obtaining the approval of the SC, has not been fulfilled;

ii) Share Sale Agreement (SSA) between AHB and Penang
Shipbuilding & Construction Sdn Bhd (PSCSB) dated 26 September
2003, where the condition precedent as set out in Clause 5.1 (d)
which includes obtaining the approval of the SC, has not been
fulfilled;

iii) Tenancy Agreement (TA) between AHB and PSCSB dated 26
September 2003 pursuant to Clause 3.2, where the TA is
interdependent with the SSA and if for any reason the TA is
rescinded or terminated, the TA will ipso facto by reason of
such rescission or termination, be rescinded.

Accordingly, after the Board of Directors of AHB having
deliberated the abovementioned matters, the aforesaid parties
have mutually agreed to rescind the CSSA, SSA ad TA and not to
proceed with the Proposed Acquisition of PSCA, Proposed
Acquisition of Shipyard and Proposed Tenancy.

c.c. Securities Commission
Datuk Kris Azman Abdullah

CONTACT:

Actacorp Holdings Berhad
Jalan 3/76D Desa Pandan
Kuala Lumpur, Selangor 55100
Malaysia
Telephone: +60 3 9282 1388
Telephone: +60 3 9284 7133

This announcement is dated 23 November 2004.


AMSTEEL CORPORATION: Details Debt Restructuring Exercise
--------------------------------------------------------
Reference is made to the announcement of 19 March 2003 made by
Amsteel Corporation Berhad (ACB) regarding, inter alia, the
issuance of the Bonds, repayment Date Of The Zero-Coupon
Redeemable Secured USD Denominated Consolidated And Rescheduled
Debts (SPV Debts) and the new ordinary shares by the ACB Group
to the ACB Scheme Creditors.

It is part of ACB's plans under the ACB Scheme to divest its
non-core and peripheral assets and businesses (Divestment
Assets) to raise cash to fund the redemption/repayment of the
Bonds/SPV Debts.

During the year 2004, the ACB Group has been actively involved
in the divestment of its non-core assets. The economic stimulus
package implemented by the Government has boosted the country's
economic fundamentals and spurred growth in the property and
construction sector.

Nonetheless, there is limited potential buyer for ACB assets as
most of the Divestment Assets are huge tracts of landed
properties. Despite the difficult environment, ACB has entered
into 2 conditional share sale and purchase agreements in respect
of the proposed disposal of Lion Ipoh Parade Sdn Bhd, a wholly-
owned subsidiary of Ayer Keroh Resort Sdn Bhd (AKR), which is in
turn a 70% owned subsidiary of ACB and the proposed disposal of
Lion Seremban Parade Sdn Bhd, a 70% owned subsidiary of Masbeef
Sdn Bhd, which is a wholly-owned subsidiary of AKR, for
RM158.852 million and RM63.448 million respectively.

The Board of Directors of ACB wishes to announce that the ACB
Group had issued notices of meetings dated 22 November 2004 to
the Bondholders and SPV Debt Holders to seek, inter alia, the
indulgence and the approval of the relevant Bondholders and SPV
Debt Holders to:

(1) Vary the redemption/repayment date for the Bonds/SPV Debts
on 31 December 2004 (Proposed Variation to Redemption/Repayment
Date); and

(2) Vary the calculation for the penalty interest (Proposed
Variation to the Calculation for Penalty Interest);

(The Proposed Variation to Redemption/Repayment Date and the
Proposed Variation to the Calculation for Penalty Interest shall
collectively be referred to as the "Proposed Variation).

DETAILS OF THE PROPOSED VARIATION

Proposed Variation to Redemption/Repayment Date
The Proposed Variation to Redemption/Repayment Date involves the
variation of the redemption date of 31 December 2004 for the
Bonds (Redemption Date) at the redemption amounts (Redemption
Amounts) as set out in Column II of Table I-Bonds below, to the
proposed redemption dates (Proposed Redemption Dates) and at the
proposed redemption amounts (Proposed Redemption Amounts) as
more particularly set out in Column III of Table I-Bonds;

The repayment date of 31 December 2004 for the SPV Debts
(Repayment Date) at the repayment amounts (Repayment Amounts) as
set out in Column II of Table II-SPV Debts below to the proposed
repayment dates (Proposed Repayment Dates) and at the proposed
repayment amounts (Proposed Repayment Amounts) as more
particularly set out in Column III of Table II-SPV Debts.

It is proposed that interest is payable for the delay in
redemption/repayment at 1% above the YTM rate for the Bonds/SPV
Debts per annum, calculated on such portion of the Redemption
Amounts/Repayment Amounts which is delayed from (and including)
31 December 2004 up to the Proposed Redemption Dates/Proposed
Repayment Dates (excluding the day upon which payment is made),
on a compound basis, details of which are set out in Table III-
Bonds and Table IV-SPV Debts below.

The aforesaid interest shall be paid together with the payment
of the Proposed Redemption Amounts/Proposed Repayment Amounts on
the Proposed Redemption Dates/Proposed Repayment Dates.

Proposed Variation to the Calculation for Penalty Interest

ACB proposes that commencing 1 January 2005, interest payable as
penalty for late redemption/repayment of any Redemption
Amount/Repayment Amount shall be calculated on a simple interest
basis instead of on a compound basis.

ACB is proposing such change for the reason that the proceeds of
the sale of the Divestment Assets are generally realized at
values lower than forecasted and therefore the amount of
Dedicated Cash flows for the redemption/repayment of the
Bonds/SPV Debts may be insufficient to service such compounded
interest.

APPROVALS FOR THE PROPOSED VARIATION

The Proposed Variation requires the approval from:

The Securities Commission (SC);

Bondholders and SPV Debt Holders at the respective meetings to
be convened; and

Bank Negara Malaysia (BNM) in respect of the SPV Debts.

Applications to the SC and BNM to seek the requisite approvals
will be submitted after receipt of approvals of the Bondholders
and SPV Debt Holders at the respective meeting to be convened
for the Proposed Variation.

The approvals from the SC and BNM must be obtained on or before
30 June 2005, failing which, the consent to the Proposed
Variation given by the Bondholders and SPV Debt Holders at the
respective meetings to be convened would be deemed to have
lapsed.

The meetings of the Bondholder and SPV Debt Holders are
scheduled to be held on 16 December 2004.

Unless the context otherwise requires, terms and conditions
defined in the Circular to the Shareholders dated 9 January 2003
in respect of the ACB Scheme shall have the meaning when used
herein.

For more information, go to
http://bankrupt.com/misc/tcrap_amsteel112404.doc

CONTACT:

Amsteel Corporation Berhad
165 Jalan Ampang
Kuala Lumpur, 50450
MALAYSIA
Phone: +60 3 2162 2155/2161 3166
Fax: +60 3 2162 3448


AMSTEEL CORPORATION: Releases FY04 Unaudited Quarterly Results
--------------------------------------------------------------
In a disclosure to Bursa Malaysia Securities Berhad, Amsteel
Corporation Berhad released its unaudited quarterly report for
the financial period ended September 30, 2004.

                 SUMMARY OF KEY FINANCIAL INFORMATION
                            30/09/2004

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

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

1  Revenue  
             92,486        580,574      92,486      580,574

2  Profit/(loss) before tax  
             -8,806         -5,507      -8,806      -5,507

3  Profit/(loss) after tax and minority interest  
             -14,983       -26,432     -14,983      -26,432

4  Net profit/(loss) for the period
             -14,983       -26,432     -14,983     -26,432

5  Basic earnings/(loss) per shares (sen)  
              -1.13         -1.99      -1.13       -1.99

6  Dividend per share (sen)  
               0.00          0.00       0.00        0.00

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

7 Net tangible assets per share (RM)  

             0.1000           0.1100

For a full copy of the interim report for the first quarter, go
to http://bankrupt.com/misc/tcrap_amsteel112404B.xls


CEPATWAWASAN GROUP: Issues Litigation Update
--------------------------------------------
Further to the announcement on 28 October 2004 regarding the
Civil Suit No D3-22-1168-2004 by Cepatwawasan Group Berhad (the
Company) and its subsidiary, Prolific Yield Sdn. Bhd. against
the following persons:

(1) Tengku Dato' Kamal Ibni Sultan Sir Abu Bakar (NRIC: 611008-
06-5021) - 1st Defendant

(2) Lt Kol Tengku Dato' Kamarul Zaman Ibni Sultan Sir Abu Bakar
(NRIC: 621104-06-5135) - 2nd Defendant

(3) Kassim bin Mohamed Ali (NRIC: 570718-10-5915) - 3rd
Defendant

(4) Abdul Rahim bin Sendiri (NRIC: 460708-06-5203) - 4th
Defendant

(5) Opti Temasek Sdn. Bhd. (Company No. 650698-D) - 5th
Defendant

(6) Yip Kum Wah (NRIC: 390923-08-5783) - 6th Defendant

(7) Lee Ah Lan (NRIC: 501002-05-5394) - 7th Defendant

(8) Sheikh Abdul Rahim bin Sheikh Hassan (NRIC: 681026-06-5133)
- 8th Defendant

(9) Yip Fook Yian (NRIC: 701106-08-5557) - 9th Defendant

(10) Yip Chee Meng (NRIC: 690422-08-5771) - 10th Defendant

(11) Yip Ha @ Yip See Khow (NRIC: 2708621) - 11th Defendant

For the recovery of RM13 million which was wrongfully and
fraudulently paid out by the former directors of Prolific Yield
Sdn. Bhd. to Opti Temasek Sdn. Bhd. as advance and RM3 million
which was wrongfully and fraudulently paid to a Sheikh Abdul
Rahim bin Sheikh Hassan (NRIC: 681026-06-5133) as advance with
no interest and no fixed term of repayment, the Board of
Directors of the Company wishes to announce that the Company has
been allowed by the Court to join:

i. Chew Poh Kong (also known as Paul Hew) (NRIC: 460810-08-5075)
ii. Hew Yen Fatt (also known as Patrick Hew) (NRIC: 550131-10-
5555) as the 12th and 13th Defendants to the suit.

The Company has by way of ex-parte obtained a Mareva Injunction
against the 11th, 12th and 13th Defendant to freeze their assets
up to an amount of RM13 million. The inter-parte hearing of the
Mareva Injunction is fixed on 13 December 2004.

The Court has directed all parties to file written submission
for the inter parte application for the Mareva Injunction
against 1st to 7th Defendant and the application of the 1st to
4th Defendant to set aside and stay the Mareva Injunction and
fixed 14 February 2005 for decision.

The Company has also applied to attach the assets of the 1st to
4th, 6th to 11th Defendant before judgment. The hearing of the
said application is fixed on 13 December 2004.

The Company has further obtained an extension of the Mareva
Injunction against 8th to 10th Defendants until 13 January 2005.

CONTACT:

Cepatwawasan Group Berhad
Lot 39-40, Block C
Taman Indah Jaya Shophouses
Mile 4, North Road
P O Box 1562
90717 Sandakan
Sabah
Phone: 089-271775/ 089-221569
Fax: 089-220881
Dated this 23rd day of November 2004


K&N KENANGA: Posts FY04 Unaudited Quarterly Results
---------------------------------------------------
In a disclosure to Bursa Malaysia Securities Berhad, K&N Kenanga
Bhd released its unaudited quarterly report for the financial
period ended September 30, 2004.

                 SUMMARY OF KEY FINANCIAL INFORMATION
                            30/09/2004

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

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

1  Revenue  
            3,983            2,248       12,923     5,215

2  Profit/(loss) before tax   
             -398               8         -194       -408

3  Profit/(loss) after tax and minority interest  
             -398               8         -194       -435

4  Net profit/(loss) for the period
              -398              8         -194       -435

5  Basic earnings/(loss) per shares (sen)  
             -0.53            0.01        -0.26      -0.58

6  Dividend per share (sen)  
             0.00             0.00         0.00        0.00

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

7  Net tangible assets per share (RM)  

           0.1306              0.1333

Contact:

K&N Kenanga
801, 8th Floor
Pernas International
Jalan Sultan Ismail
50250 Kuala Lumpur
Phone: 03-2162 1490
Fax: 03-2161 4990
Web site: http://www.kenanga.com.my


KUMPULAN BELTON: Issues Default Status Update
---------------------------------------------
The Board of Directors of Kumpulan Belton Berhad (Belton)
announced the following updates on the status of its default in
payment and involvement in litigation for the period from 21
October 2004 to the date of this announcement.

For more information, go to
http://bankrupt.com/misc/tcrap_kumpulan112404.doc

CONTACT:

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


LIEN HOE: Reveals Unaudited Quarterly Results
---------------------------------------------
Lien Hoe Corporation Berhad disclosed its unaudited quarterly
report for the financial period ended September 30, 2004.

                 SUMMARY OF KEY FINANCIAL INFORMATION
                            30/09/2004

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

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

1 Revenue  
            22,591           39,609       76,444     88,986

2 Profit/(loss) before tax  
            -2,439           -1,747        -5,584    -3,847

3  Profit/(loss) after tax and minority interest  
             -2,880           -2,247       -6,720     -5,197

4  Net profit/(loss) for the period
             -2,880           -2,247       -6,720     -5,197

5  Basic earnings/(loss) per shares (sen)  
              -0.96           -0.76        -2.25       -1.76

6  Dividend per share (sen)  
               0.00             0.00        0.00        0.00


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

7  Net tangible assets per share (RM)  

             0.8700           0.8900

CONTACT:

Lien Hoe Corporation Berhad
18th Floor, Menara Lien Hoe
No. 8, Persiaran Tropicana
Tropicana Golf & Country Resort
47410 Petaling Jaya
Phone: 03-7805 1331
Fax: 03-7805 3112
Web site: http://http://www.lienhoe.com.my


MALAYAN UNITED: Unveils FY04 Unaudited Quarterly Results
--------------------------------------------------------
Malayan United Industries Berhad released its unaudited
quarterly report for the financial period ended September 30,
2004.

                 SUMMARY OF KEY FINANCIAL INFORMATION
                            30/09/2004

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

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

1  Revenue  
             358,291         359,087    1,054,568   1,010,465

2 Profit/(loss) before tax  
             -37,522         -26,478    -40,985    -93,873

3  Profit/(loss) after tax and minority interest  
             -39,807         -35,594    -38,066    -124,782

4  Net profit/(loss) for the period
             -39,807         -35,594    -38,066    -124,782

5  Basic earnings/(loss) per shares (sen)  
               -2.05         -1.83       -1.96     -6.43

6  Dividend per share (sen)   
               0.00           0.00        0.00      0.00

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

7  Net tangible assets per share (RM)  

             0.2084           0.2286

CONTACT:

Malayan United Industries Berhad
14th Floor, MUI Plaza
Jalan P Ramlee
50250 Kuala Lumpur
Phone: 03-2148 2566
Fax: 03-2144 5209


MALAYSIA PACIFIC: Discloses Unaudited Quarterly Results
-------------------------------------------------------
In a disclosure to Bursa Malaysia Securities Berhad, Malaysia
Pacific Land Berhad released its unaudited quarterly report for
the financial period ended September 30, 2004.

                 SUMMARY OF KEY FINANCIAL INFORMATION
                            30/09/2004

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

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

1  Revenue  
             4,753         2,424        4,753       2,424

2 Profit/(loss) before tax  
             -1,836        -2,296       -1,836      -2,296

3  Profit/(loss) after tax and minority interest  
             -2,141        -2,470       -2,141      -2,470

4  Net profit/(loss) for the period
             -2,141        -2,470        -2,141     -2,470

5  Basic earnings/(loss) per shares (sen)  
              -1.29        -2.49          -1.29     -2.49

6  Dividend per share (sen)  
                0.00        0.00           0.00      0.00

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

7  Net tangible assets per share (RM)  

        1.1200               1.1500

For a copy of its condensed consolidated balance sheets, go to
http://bankrupt.com/misc/tcrap_malaysiapacific112404.xls
CONTACT:

Malaysia Pacific Land Berhad
21st Floor, Wisma HLA
Jalan Raja Chulan
50200 Kuala Lumpur
Phone: 03-20704488  
Fax: 03-20704489


PSC INDUSTRIES: Details Restructuring Proposal
----------------------------------------------
PSC Industries Berhad (PSCI) refers to its announcements dated
26 September 2003, 8 April 2004, 9 August 2004 and 8 October
2004 respectively in relation to the Proposals:

1) Proposed Disposal Of A Shipyard Comprising Two (2) Pieces Of
Land Together With Buildings Erected Thereon (Shipyard) By
Penang Shipbuilding & Construction Sdn Bhd (PSCSB), A Wholly-
Owned Subsidiary Of PSCI For A Sale Consideration Of RM41.0
Million (Proposed Shipyard Disposal);

2) Proposed Rental Of The Shipyard Back To PSCSB For A Period Of
Up To Twelve (12) Years (Proposed Tenancy); and

3) Proposed Disposal Of 100% Equity Interest In PSC Asset
Holdings Sdn Bhd (PSCA) (Proposed PSCA Disposal)

Avenue Securities Sdn Bhd on behalf of the Company, announced
that in view of the Securities Commission (SC)'s decision not to
approve the proposed restructuring scheme of Actacorp Holdings
Berhad (AHB) vide its letters dated 3 August 2004 and 4 October
2004, AHB had vide its letters dated 22 November 2004 informed
PSCI and PSCSB that it has decided to rescind the following
agreements relating to the Proposals which forms an integral
part of the proposed restructuring scheme of AHB:

Share Sale Agreement dated 27 December 2002 between PSCI and AHB
for the Proposed PSCA Disposal;

Sale and Purchase Agreement dated 26 September 2003 between
PSCSB and AHB for the Proposed Shipyard Disposal; and
Tenancy Agreement dated 26 September 2003 between PSCSB and AHB
for the Proposed Tenancy.

Accordingly, the Board of Directors of PSCI, after due
deliberation had on 23 November 2004 agreed to the above
rescission and not to proceed with the Proposed PSCA Disposal,
Proposed Shipyard Disposal and Proposed Tenancy.

CONTACT:

PSC Industries Berhad
Jalan Bukit Nanas
Kuala Lumpur, 50250
Malaysia
Phone: +60 3 201 6516
Fax: +60 3 232 6214

This announcement is dated 23 November 2004.


SILVERSTONE CORPORATION: Updates Debt Restructuring Scheme
----------------------------------------------------------
Reference is made to the announcement of 19 March 2003 made by
Silverstone Corporation Berhad (SCB) regarding the issuance of
the Bonds, Repayment Date Of The Zero-Coupon Redeemable Secured
USD Denominated Consolidated and Rescheduled Debts (SPV DEBTS)
and the new ordinary shares by the SCB Group to the SCB Scheme
Creditors.

It is part of SCB's plans under the SCB Scheme to divest its
non-core and peripheral assets and businesses (Divestment
Assets) to raise cash to fund the redemption/repayment of the
Bonds/SPV Debts.

However, the business conditions for some of SCB's joint venture
companies in China continue to remain difficult amid stiff
competition in the China motor vehicle and tyre industries.
Against the backdrop of concerns over the poor performance of
these joint venture companies and very limited prospective
buyers for these assets, the divestment will take longer time
frame than scheduled.

In order to raise funds in the immediate term to support the
redemption/repayment of the Bonds/SPV Debts due on 31 December
2004, SCB's only option would be to dispose of its assets at
forced sale prices. In that regard, only a small buffer was set
aside between the anticipated sale proceeds and the
Redemption/Repayment Amount and the disposal of SCB's assets at
forced sale prices would undermine SCB's ability to repay its
future redemption/repayment obligations, which would not be in
the interest of the Bondholders and SPV Debt Holders. In
addition, the Divestment Assets are basically non-core business
of the SCB Group and some of them require the management to
revive and turnaround before they become favourable for
divestment.

With the Proposed Variation to Redemption/Repayment Date (as
defined and particularised hereafter), the management of SCB
anticipates that it will be better placed to negotiate better
prices for the Divestment Assets in anticipation of the
improving financial performance of the overseas assets amid
strong growth in China domestic and global economy.

In respect of assets in China which have been divested, the
approvals from regulatory authorities to repatriate the
divestment proceeds has taken longer than expected due to
China's tight capital and monetary control policies. The timing
for the approvals to a large extent depends on the co-operation
and assistance of the joint venture partners. In this regard,
SCB has encountered difficulties in repatriating the divestment
proceeds of one of SCB's China assets i.e. Jiangxi Fuqi Motor
Co. Ltd of approximately RM9.67 million.

In addition to the above, three other sources of cashflow to
support the yearly redemption/repayment of the Bonds/SPV Debts
are the proceeds from the redemption of the Amsteel Corporation
Berhad Bonds (ACB Bonds) to be received by SCB on 31 December
2004, proceeds from disposal of Lion Asiapac Limited shares (LAL
Shares) and proceeds from the disposal of Amsteel Corporation
Berhad shares (ACB Shares).

However, the partial redemption of the ACB Bonds and the
prevailing low prices of LAL Shares and ACB Shares have also
contributed to the inability of SCB to pay its
Redemption/Repayment Amount in full on 31 December 2004.
The Board of Directors of SCB wishes to announce that the SCB
Group had issued notices of meetings dated 22 November 2004 to
the Bondholders and SPV Debt Holders to seek, inter alia, the
indulgence and the approval of the relevant Bondholders and SPV
Debt Holders to:

(1) Vary the redemption/repayment date for the Bonds/SPV Debts
on 31 December 2004 (Proposed Variation to Redemption/Repayment
Date);

(2) Vary the calculation for the penalty interest (Proposed
Variation to the Calculation for Penalty Interest); and

(3) Waive the early payment of redemption/repayment amounting to
RM4.78 million due on 31 December 2005 (Proposed Waiver of Early
Payment).

The Proposed Variation to Redemption/Repayment Date and the
Proposed Variation to the Calculation for Penalty Interest shall
collectively be referred to as the "Proposed Variation".

DETAILS OF THE PROPOSED VARIATION

Proposed Variation to Redemption and Repayment Date
The Proposed Variation to Redemption/Repayment Date involves the
variation of:

The redemption date of 31 December 2004 for the Bonds
(Redemption Date) at the redemption amounts (Redemption Amounts)
as set out in Column II of Table I-Bonds below, to the proposed
redemption dates (Proposed Redemption Dates) and at the proposed
redemption amounts (Proposed Redemption Amounts) as more
particularly set out in Column III of Table I-Bonds; and

The repayment date of 31 December 2004 for the SPV Debts
(Repayment Date) at the repayment amounts (Repayment Amounts) as
set out in Column II of Table II-SPV Debts below to the proposed
repayment dates (Proposed Repayment Dates) and at the proposed
repayment amounts (Proposed Repayment Amounts) as more
particularly set out in Column III of Table II-SPV Debts.
It is proposed that interest is payable for the delay in
redemption/repayment at 1% above the YTM rate for the Bonds/SPV
Debts per annum, calculated on such portion of the Redemption
Amounts/Repayment Amounts which is delayed from (and including)
31 December 2004 up to the Proposed Redemption Dates/Proposed
Repayment Dates (excluding the day upon which payment is made),
on a compound basis., details of which are set out in Table III-
Bonds and Table IV-SPV Debts below.

The aforesaid interest shall be paid together with the payment
of the Proposed Redemption Amounts/Proposed Repayment Amounts on
the Proposed Redemption Dates/Proposed Repayment Dates.

Proposed Variation to the Calculation for Penalty Interest

SCB proposes that commencing 1 January 2005, interest payable as
penalty for late redemption/repayment of any Redemption
Amount/Repayment Amount shall be calculated on a simple interest
basis instead of on a compound basis. The Penalty Interest which
is agreed to be paid by SCB on 31 December 2004 has been
calculated on a compound basis. Therefore, the Penalty Interest
for amount deferred from 31 December 2003 will be calculated on
a compound basis for the period from 31 December 2003 to 31
December 2004 and on a simple interest basis for the period from
1 January 2005 to date of payment.

SCB is proposing such change for the reason that the proceeds of
the sale of the Divestment Assets are generally realized at
values lower than forecasted and therefore the amount of
Dedicated Cashflows for the redemption/repayment of the
Bonds/SPV Debts may be insufficient to service such compounded
interest.

Proposed Waiver for Early Payment

Under the SCB Scheme, SCB is required, in the event of a
purchase of the Bonds or SPV Debts by SCB following a cash
tender exercise (Purchased Bonds/SPV Debts), to pay the full
Redemption/Repayment Amount in respect of the Purchased
Bonds/SPV Debts on each Redemption/Repayment Date falling on or
after the date of such Purchased Bonds/SPV Debts are purchased
and cancelled as if such Purchased Bonds/Debts were not
purchased and cancelled.

The Redemption/Repayment Amount in respect of the Purchased
Bonds/SPV Debts will be treated as surplus of Dedicated
Cashflows for early redemption/repayment of Bonds and SPV Debts.
In connection with the above, SCB had purchased and cancelled
net present value Class B and C SPV Debts of USD13.746 million
(equivalent to approximately RM52.23 million) from several of
the SPV Debt Holders via AMB Harta (L) Ltd (SPV) following a
cash tender exercise held in February 2003. Out of the total
USD13.746 million Class B and Class C SPV Debts purchased and
cancelled, the Bondholders and SPV Debt Holders had via one of
the meetings held on 12 January 2004 granted approvals to SCB
and SPV to waive the requirement to pay USD1.36 million
(equivalent to approximately RM5.18 million) on 31 December 2003
for the purpose of mandatory early redemption/repayment of Bonds
and SPV Debts due on 31 December 2004.

Owing to the shortfall in SCB's cashflows for the
redemption/repayment of the Bonds and SPV Debts due on 31
December 2004, a waiver to the requirement to pay the nominal
value sum of USD1.26 million (equivalent to approximately RM4.78
million) on 31 December 2004 as surplus funds for early
redemption/repayment of the Bonds and SPV Debts due on 31
December 2005 is sought by SCB from its Bondholders and SPV Debt
Holders.

APPROVALS FOR THE PROPOSED VARIATION

The Proposed Variation requires the approval from:

1) the Securities Commission (SC);
2) Bondholders and SPV Debt Holders at the respective meetings
to be convened; and
3) Bank Negara Malaysia (BNM) in respect of the SPV Debts.

Applications to the SC and BNM to seek the requisite approvals
will be submitted after receipt of approvals of the Bondholders
and SPV Debt Holders at the respective meeting to be convened
for the Proposed Variation.

The approvals from the SC and BNM must be obtained on or before
30 June 2005, failing which, the consent to the Proposed
Variation given by the Bondholders and SPV Debt Holders at the
respective meetings to be convened would be deemed to have
lapsed.

The meetings of the Bondholder and SPV Debt Holders are
scheduled to be held on 16 December 2004.

Unless the context otherwise requires, terms and conditions
defined in the Circular to the Shareholders dated 9 January 2003
in respect of the SCB Scheme shall have the meaning when used
herein.

CONTACT:

Silverstone Corporation Berhad
Level 46, Menara Citibank
165, Jalan Ampang
50450 Kuala Lumpur
Phone: 03-21622155
Fax: 03-21623448
Web site: http://www.lion.com.my


SILVERSTONE CORPORATION: Unveils November 23 AGM Results
--------------------------------------------------------
Silverstone Corporation Berhad announced that at the Twenty-
Sixth Annual General Meeting of the Company held on 23 November
2004, the shareholders have approved the following:

1. The re-appointment of Y. Bhg. Tan Sri Dato' Jaffar bin Abdul
who retired pursuant to Section 129(2) of the Companies Act,
1965 as Director of the Company; and

2. All other resolutions tabled thereat including the following
ordinary resolutions transacted as special business:

(a) Authority to Directors to issue shares

"THAT pursuant to Section 132D of the Companies Act, 1965 and
subject to the approval of all relevant authorities being
obtained, the Directors be and are hereby empowered to issue
shares in the Company at any time and upon such terms and
conditions and for such purposes as the Directors may, in their
absolute discretion deem fit, provided that the aggregate number
of shares issued pursuant to this resolution does not exceed 10%
of the issued capital of the Company for the time being and that
such authority shall continue in force until the conclusion of
the next annual general meeting of the Company."

(b) Proposed Shareholders' Mandate for Recurrent Related Party
Transactions

"THAT approval be given for the Company and its subsidiary
companies to enter into the recurrent related party transactions
of a revenue or trading nature which are necessary for its day-
to-day operations as detailed in paragraph 3.4 (Recurrent
Transactions) and with those related parties as detailed in
paragraph 3.2 of the Circular to Shareholders of the Company
dated 30 October 2004 subject to the following:

(i) the transactions are in the ordinary course of business and
are on terms not more favourable to the related parties than
those generally available to the public and are not to the
detriment of the minority shareholders of the Company; and

(ii) disclosure is made in the annual report of the breakdown of
the aggregate value of transactions conducted pursuant to the
shareholders' mandate during the financial year, amongst others,
based on the following information:

(a) the type of Recurrent Transactions made; and

(b) the names of the related parties involved in each type of
Recusrrent Transactions made and their relationship with the
Company; AND THAT authority conferred by this Ordinary
Resolution shall continue to be in force until:

(i) the conclusion of the next annual general meeting of the
Company at which time it will lapse, unless by a resolution
passed at the meeting, the authority is renewed;

(ii) the expiration of the period within which the next annual
general meeting after that date is required to be held pursuant
to Section 143(1) of the Companies Act, 1965 (but shall not
extend to such extension as may be allowed pursuant to Section
143(2) of the Companies Act, 1965); or

(iii) revoked or varied by resolution passed by the shareholders
in general meeting; whichever is the earlier, AND THAT the
Directors be authorized to complete and do all such acts and
things (including executing such documents as may be required)
to give effect to the transactions contemplated and/or
authorized by this Ordinary Resolution."


SRIWANI HOLDINGS: Court To Clarify Injunction Matters
-----------------------------------------------------
Sriwani Holdings Berhad refers to its announcements dated 11
October 2004, 26 October 2004 and 17 November 2004 in relation
to the Petition (No. D-26-88-2004) served on the Company.

Sriwani Holdings Berhad announced that at the hearing held on 23
November 2004 in relation to its application to strike out the
petition, the Court has directed all parties to file in written
submissions in respect of the injunction against Atlan Holdings
Bhd and/or Atlan Properties Sdn Bhd and striking out
applications by 16 December 2004 and the respective parties
submissions in reply by 7 January 2005.

The Court now fixes the matter for clarification on 28 January
2005.

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 23 November 2004.


TT RESOURCES: Narrows 3Q/FY04 Net Loss to MYR436,000
----------------------------------------------------
TT Resources Berhad posted a net loss of MYR436,000 in the third
quarter ended September 30, versus a net loss of MYR8.9 million
a year earlier, Dow Jones reports.

               3rd quarter ended Sep. 30:
             Figures are in Ringgit (MYR).

                                 2004               2003

Revenue                 MYR34,695,000      MYR36,565,000
Pretax Profit                 265,000         (8,517,000)
Net Profit                   (436,000)        (8,977,000)
Earnings Per Share          (0.60 Sen)        (13.62 Sen)
Dividend                      Omitted            Omitted

   9 months ended Sep. 30:
Revenue                    98,763,000        109,795,000
Pretax Profit                 545,000        (18,814,000)
Net Profit                 (1,124,000)       (19,633,000)
Earnings Per Share          (1.56 Sen)        (29.79 Sen)
Dividend                      Omitted            Omitted
($1=MYR3.80; MYR1=100 Sen)

(Figures in parentheses are losses.)
Results are based on Malaysian accounting standards and are
unaudited.
    
CONTACT:

TT Resources Berhad
Lot 302, 3rd Floor, Wisma Dijaya
No. 1A, Jalan SS 20/1
Damansara Utama
47400 Petaling Jaya
Selangor Darul Ehsan
Phone: 03-77268297
Fax: 03-77268076
Web site: http://www.ttrb.com.my


TALAM CORPORATION: EGM Set For December 8
-----------------------------------------
The Extraordinary General Meeting (EGM) of Talam Corporation
Berhad will be held at Perdana Ballroom, Pandan Lake Club, Lot
28, Jalan Perdana 3/8, Pandan Perdana, 55300 Kuala Lumpur on
Wednesday, 8 December 2004 at 10:30 in the morning, passing the
following resolutions, with or without any modifications:

ORDINARY RESOLUTION I

PROPOSED DISPOSAL BY TALAM CORPORATION BERHAD (TALAM) OF THE
ENTIRE ISSUED AND PAID-UP SHARE CAPITAL OF TALAM TRADING SDN BHD
(TALAM TRADING), A WHOLLY-OWNED SUBSIDIARY, TO KUMPULAN EUROPLUS
BERHAD (KEURO) FOR A DISPOSAL CONSIDERATION OF RM6,684,993 TO BE
SETTLED BY WAY OF A SET-OFF AGAINST THE TRADE RECEIVABLES DUE BY
THE TALAM GROUP TO THE KEURO GROUP AND/OR BY CASH (PROPOSED
TALAM TRADING DISPOSAL)

"THAT, subject to the conditions precedent to the Proposed Talam
Trading Disposal being fulfilled, approval be and is hereby
given for the Directors of Talam to dispose of the entire issued
and paid-up share capital of Talam Trading to KEURO for a
disposal consideration of RM6,684,993 subject to the conditions,
and upon the terms set out in the sale and purchase agreement
dated 30 August 2004,

AND THAT the Directors of Talam, be and are hereby authorized to
give effect to and implement the Proposed Talam Trading Disposal
with full powers to agree to any conditions, variations,
modifications and/or amendments as may be required by the
relevant authorities and to do all such acts, deeds and things
and to enter, sign and/or deliver on behalf of Talam all such
agreements, arrangements, undertakings, indemnities, transfers,
assignments and guarantees, as the case may be with KEURO and
any other relevant party or parties, as may be required in order
to implement, finalise, complete and give full effect to the
Proposed Talam Trading Disposal."

ORDINARY RESOLUTION II

PROPOSED DISPOSAL BY TALAM CORPORATION BERHAD (TALAM) OF THE
ENTIRE ISSUED AND PAID-UP SHARE CAPITAL OF TALAM LEASING SDN BHD
(TALAM LEASING), A WHOLLY-OWNED SUBSIDIARY, TO KUMPULAN EUROPLUS
BERHAD (KEURO) FOR A DISPOSAL CONSIDERATION OF RM9,615,001 TO BE
SETTLED BY WAY OF A SET-OFF AGAINST THE TRADE RECEIVABLES DUE BY
THE TALAM GROUP TO THE KEURO GROUP AND/OR BY CASH (PROPOSED
TALAM LEASING DISPOSAL)

"THAT, subject to the conditions precedent to the Proposed Talam
Leasing Disposal being fulfilled, approval be and is hereby
given for the Directors of Talam, to dispose of the entire
issued and paid-up share capital of Talam Leasing to KEURO for a
disposal consideration of RM9,615,001 subject to the conditions,
and upon the terms set out in the sale and purchase agreement
dated 30 August 2004,

AND THAT the Directors of Talam, be and are hereby authorized to
give effect to and implement the Proposed Talam Leasing Disposal
with full powers to agree to any conditions, variations,
modifications and/or amendments as may be required by the
relevant authorities and to do all such acts, deeds and things
and to enter, sign and/or deliver on behalf of Talam all such
agreements, arrangements, undertakings, indemnities, transfers,
assignments and guarantees, as the case may be with KEURO and
any other relevant party or parties, as may be required in order
to implement, finalize, complete and give full effect to the
Proposed Talam Leasing Disposal."

ORDINARY RESOLUTION III

PROPOSED DISPOSAL BY TALAM CORPORATION BERHAD (TALAM) OF THE
ENTIRE ISSUED AND PAID-UP SHARE CAPITAL OF AMBANG VISTA SDN BHD
(AMBANG VISTA), A WHOLLY-OWNED SUBSIDIARY, TO KUMPULAN EUROPLUS
BERHAD (KEURO) FOR A CASH CONSIDERATION OF RM1.00 (PROPOSED
AMBANG VISTA DISPOSAL)

"THAT, subject to the conditions precedent to the Proposed
Ambang Vista Disposal being fulfilled, approval be and is hereby
given for the Directors of Talam, to dispose of the entire
issued and paid-up share capital of Ambang Vista to KEURO for a
cash consideration of RM1.00 subject to the conditions, and upon
the terms set out in the sale and purchase agreement dated 30
August 2004,

AND THAT the Directors of Talam, be and are hereby authorized to
give effect to and implement the Proposed Ambang Vista Disposal
with full powers to agree to any conditions, variations,
modifications and/or amendments as may be required by the
relevant authorities and to do all such acts, deeds and things
and to enter, sign and/or deliver on behalf of Talam all such
agreements, arrangements, undertakings, indemnities, transfers,
assignments and guarantees, as the case may be with KEURO and
any other relevant party or parties, as may be required in order
to implement, finalize, complete and give full effect to the
Proposed Ambang Vista Disposal."

BY ORDER OF THE BOARD
LIM MEI YOONG
Secretary
Kuala Lumpur
23 November 2004

Notes:

(i) A member of the Company entitled to attend and vote at the
meeting may appoint one (1) proxy to attend and vote instead of
him. A proxy need not be a member of the Company and provision
of Section 149(1)(b) of the Companies Act, 1965 shall not apply
to the Company.

(ii) The instrument appointing a proxy shall be in writing
under the hand of the appointor or his attorney duly authorized
in writing or if the appointor is a corporation under its common
seal or the hand of its attorney.

(iii) All proxy forms should be deposited at the Company's
Registered Office at Suite 2.05, Level 2, Menara Maxisegar,
Jalan Pandan Indah 4/2, Pandan Indah, 55100 Kuala Lumpur not
less than forty-eight (48) hours before the time appointed for
holding the meeting or at any adjournment thereof.

CONTACT:

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


WCT ENGINEERING: Enters Into Share Sale Agreement With UOB
----------------------------------------------------------
WCT Engineering Berhad announced that it had on 19 November 2004
entered into a sale and purchase agreement (SPA) with United
Overseas Bank (Malaysia) Berhad (UOB) for the disposal of
RM60,000,000 WCTL CRDS A to UOB for a total cash consideration
that shall be determined later based on the formula set out in
Table 1 below (Sale Consideration).

THE PROPOSED DISPOSAL

Details Of The Proposed Disposal

Arising from the ongoing negotiations between WCT and UOB since
April 2003, the Company has finalized and executed the SPA on 19
November 2004 for the disposal of RM60,000,000 WCTL CRDS A for a
total cash consideration that shall be determined later based on
the formula set out in Table 1 below wherein WCT shall sell and
UOB shall purchase the WCTL CRDS A for the Sale Consideration to
be satisfied via cash.

The RM60,000,000 nominal value of the WCTL CRDS A had been
issued by WCTL to WCT at par as part settlement of the inter-
Company advances owing by WCTL to WCT, incurred over a period of
time as part of WCTL's business operations in the past.

Please refer to Table 2 for the principal terms and conditions
of the WCTL CRDS A.

Basis of Arriving at the Sale Consideration

The Sale Consideration was arrived at based on a willing-buyer
willing-seller basis.

Salient Terms of the SPA

The salient terms of the SPA include, inter-alia, the following:

(a) The sale and purchase is to take effect within two (2)
business days from the listing date of the WCTL CRDS A on Bursa
Malaysia Securities Berhad; and

(b) UOB irrevocably grants the Company the call option
exercisable during either of the Call Option Periods (Note 1),
to allow WCT to repurchase the RM60,000,000 WCTL CRDS A from UOB
at the Call Price (Note 2) based on the terms and conditions set
out in the SPA (Call Option).

Note 1:

Means the following two (2) periods:

(i) The period commencing from the opening of trading on the
twenty-third (23rd) market day prior to the early redemption
date (means the date falling three years and six months from the
issue date of the WCTL CRDS A and as determined in accordance
with the WCTL CRDS A trust deed) and expiring at the close of
trading on the twenty first (21st) market day prior to early
redemption date (First Call Option Period); and

(ii) The period commencing from the opening of trading on the
twenty-first (21st) market day prior to the maturity date (the
date falling five (5) years from the issue date of the WCTL CRDS
A) and expiring at the close of trading on such day (Second Call
Option Period).

Note 2:

Means (i) in relation to an exercise of the Call Option during
the First Call Option Period, the sum which 97.14% of the
aggregate nominal value of all the WCTL CRDS A which WCT calls
pursuant to the Call Option and (ii) in relation to an exercise
of the Call Option during the Second Call Option Period, the
aggregate nominal value of all the WCTL CRDS A which WCT calls
pursuant to the Call Option.

Utilization of Proceeds

The proceeds from the Proposed Disposal will be utilized for the
working capital requirements of the Company.

Liabilities to be Assumed by UOB

Save for the Sale Consideration, UOB will not assume any
liabilities pursuant to the Proposed Disposal.

INFORMATION ON UOB

UOB is a wholly owned subsidiary of United Overseas Bank Ltd and
has its presence in Malaysia since 1951.

Incorporated in 1993, UOB took over the operations of Lee Wah
Bank Limited in 1994 and merged with Chung Khiaw Bank (Malaysia)
Berhad on 7 June 1997. On 2 February 2002, UOB merged with
Overseas Union Bank (Malaysia) Berhad to form a single legal
entity, principally involved in the provision of banking and
related financial services.

The present authorized share capital of UOB is RM2,000,000,000
comprising 2,000,000,000 ordinary shares of RM1.00 each while
its issued and paid-up share capital is RM470,000,000 comprising
470,000,000 ordinary shares of RM1.00 each.

Rationale for the Proposed Disposal

The Proposed Disposal will allow the crystallization of part of
the inter-Company advances owing to WCT and/or its subsidiaries
by WCTL, which had been partly converted into the RM120,000,000
WCTL CRDS A pursuant to the corporate and debt restructuring
exercise undertaken by WCTL.

EFFECTS OF THE PROPOSED DISPOSAL

Share Capital

The Proposed Disposal will not have any effect on the issued and
paid-up share capital of WCT.

Substantial Shareholding Structure

The Proposed Disposal will not have any effect on the
substantial shareholding structure of the Company.

Earnings

The Proposed Disposal is not expected to have any material
effect on the earnings of the WCT group for the financial year
ending 31 December 2004.

Net Tangible Assets (NTA)

The Proposed Disposal is not expected to have any material
effect on the NTA of the WCT group for the financial year ending
31 December 2004.

APPROVALS REQUIRED

The Proposed Disposal is not subject to the approval of
shareholders of WCT or any other authorities.

DIRECTORS AND SUBSTANTIAL SHAREHOLDERS' INTEREST

None of the Director and/or substantial shareholders of WCT or
any other persons connected to them have any interest, either
direct or indirect, in the Proposed Disposal.

DIRECTORS' STATEMENT IN RELATION TO THE PROPOSED DISPOSAL

After considering the Proposed Disposal, the Board of Directors
of WCT is of the opinion that the Proposed Disposal is in the
best interest of the Company.

ESTIMATED TIME FRAME FOR COMPLETION

Barring unforeseen circumstances, the Proposed Disposal is
expected to be completed by the end of 2004.

DOCUMENTS FOR INSPECTION

The SPA is available for inspection at the registered Office of
WCT at No. 12, Jalan Majistret U1/26, Seksyen U1, Lot 44, Hicom-
Glenmarie Industrial Park, 40150 Shah Alam, Selangor Darul Ehsan
during normal business hours from Monday to Saturday (except for
public holidays) for a period of one (1) month from the date of
this announcement.

DEPARTURE FROM THE SC's POLICIES AND GUIDELINES ON ISSUE/OFFER
OF SECURITIES COMMISSION (SC GUIDELINES)

The Proposed Disposal is not subject to the approval of the
Securities Commission and does not fall under the SC Guidelines.

The formula For The Calculation Of Sale Consideration (Table 1)
can be accessed at http://bankrupt.com/misc/tcrap_wct112404.pdf

The Principle Terms And Conditions Of WCTL CRDS A (Table II) at
http://bankrupt.com/misc/tcrap_wct112404B.pdf

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 23 November 2004.


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


BAYAN TELECOM: To Expand Visayas, Mindanao Services
---------------------------------------------------
The National Telecommunications Commission (NTC) has granted
Bayan Telecommunications, Inc. (BayanTel) a provisional
authority to install, operate and maintain local exchange
carrier (LEC) services in provinces in Visayas and Mindanao,
reports the Business World.

BayanTel, which was initially assigned to cover Quezon City,
Malabon, Valenzuela, and Bicol, now provides LEC service to 60
percent of the country. It was given additional areas in 1997 to
cover Davao, General Santos, and Iloilo City.

The Corporate Rehabilitation Court earlier approved its debt
restructuring, which allows the firm to pay for its US$325
million debt for a period of 19 years. It will spend PhP1.3
billion in capital expenditure next year to improve its voice
and data units.

CONTACT:

Bayan Telecommunications Inc,
Investor Relations 3/F Bayantel
Corporate Center Maginhawa corner
Malingap Streets Teacher's Village East,
Diliman Quezon City 1101,
Web site: http://www.bayantel.com.ph/


METRO PACIFIC: New PSE Unit Probes Deals
----------------------------------------
The Market Integrity Board (MIB), the Philippine Stock
Exchange's independent governance unit, will further investigate
the alleged insider trading of Metro Pacific Corporation, ABS
CBN-News reports.

The PSE investigation is in relation to its parent company First
Pacific Co. Ltd.'s sale of its 5-percent stake in Metro Pacific.

The brokers alleged a foreign broker sold 610 million shares of
MPC a day before the Company made the disclosure on First
Pacific's plan to sell the 5-percent stake, or 930.2 million
common shares. The disclosure caused share prices to drop.

First Pacific said it was raising funds for Metro Pacific's
troubled shipping unit Negros Navigation Co. (Nenaco).

CONTACT:

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


PHILIPPINE BANK: Reverses Losses, Posts Php13.7-Mln Profits
-----------------------------------------------------------
The Philippine Bank of Communications (PBCom) earned PhP13.73
million during the third quarter of this year, versus a net loss
of Php146.42 million in the same period in 2003, Yehey Finance
reports.

The midsize commercial bank cited higher net interest income as
a result of aggressive spread management and better yields on
investment securities held by the bank.

However, the bank posted a bigger net loss of PhP177.32 million
during the first nine months of the year from PhP85.35 million
in the same period a year earlier.

CONTACT:

Philippine Bank of Communications
PBCom Tower, 6795 Ayala Ave. Cor. Herrera St., 1226 Makati City
Tel. No:  830-7000 (TL)
Fax No:  818-2576 (Telefax)
E-mail Address:  info@pbcom.com.ph
Web site:  http://www.pbcom.com.ph
Auditor:  SyCip, Gorres, Velayo & Company
Transfer Agent:  Securities Transfer Services, Inc.


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


ADVERTISING AGENCY: Posts Intended Preferential Dividend Notice
---------------------------------------------------------------
The Advertising Agency Pte Ltd. posted a notice of intended
preferential dividend at the Singapore Government Gazette on
November 19, 2004

Address of Registered Office: Formerly of 5 Ann Siang Road
Singapore 069688

Court: Supreme Court, Singapore

Number of Matter: Companies Winding Up No. 469 of 1999

Last Day for Receiving Proofs: 3 December 2004

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

Sunari Bin Kateni
Assistant Official Receiver


JADE TECHNOLOGIES: Unveils Half-year, Full-year Results
-------------------------------------------------------
Jade Technologies Singapore Ltd announced on November 23, 2004,
it tallied a total of SG$1,983 million in net profit.

Sales increased to SG$42,776 from SG$36,416 in the same period
last year.

To view the entire document, click on:
http://bankrupt.com/misc/tcrap_jadetechnologies112304.pdf


PANPAC MEDIA: Terminates Acquisition Agreement
----------------------------------------------
Panpac Media Group Limited refers to announcements dated 5
January 2004, 12 January 2004 and 3 July 2004, in relation to
the proposed Acquisition by our subsidiary, Auston International
Group Ltd, pursuant to the Acquisition Agreement as amended by
the Supplemental Agreement. Auston has also made similar
announcements in this respect on the same dates.

The Company wishes to inform that due to the non-fulfillment of
the conditions precedent in the Agreement and pursuant to the
mutual intention and agreement of the parties, the parties have
in accordance with the terms of the Agreement, by way of a
termination agreement dated 23 November 2004, agreed and
declared the Agreement terminated and of no further force and
effect save as provided below.

Submitted by:
Ricky Ang Gee Hing   
Group MD and CEO   


WEARNES INTERNATIONAL: Reveals Full-year Financial Results
----------------------------------------------------------
Wearnes International posted at the Singapore Stock Exchange its
full year financial statement along with its dividend
announcement.

To view the entire document click on:
http://bankrupt.com/misc/tcrap_wearnesinternational112204.pdf


WEE POH: Answers Shareholders' Queries
--------------------------------------
Wee Poh Holdings Limited has received some inquiries regarding
the substantial construction contracts mentioned by Chew Yin
What, a shareholder of the Company and a director who has been
temporarily relieved of his executive duties, in a letter he had
dispatched to shareholders on or about October 25, 2004.

The Company wishes to clarify and advise all shareholders that
none of the statements made by Chew Yin What are authorized by
the Company or the Board of Directors of the Company. Chew Yin
What's statements are not binding on the Company and do not
represent the views of the Board.

The Board notes that none of the purported S$1.48 billion
construction contracts mentioned by Chew Yin What have been
substantiated. No feasibility studies have been conducted, the
alleged returns have not been substantiated and no agreements
have been sighted. The Board has agreed in a board meeting that
Chew Yin What will be personally liable for the misleading and
unsubstantiated statements he made in his letter.

With regards to Chew's statement on the debt restructuring, the
Company wishes to reassure shareholders that an agreement had
already been reached with the banks and have been announced on
September 17, 2004.

Under this debt restructuring plan negotiated by the current
management of the Company, the banks had agreed to accept 65% of
the unsecured outstanding loans in shares. The net result of
this debt restructuring is a further strengthening of the
balance sheet of the Company.

The Company wishes to assure shareholders that Wee Poh's
financial position has improved substantially under the current
management. The Company is already cash flow positive and
expects its balance sheet to be considerably strengthened when
the Scheme of Arrangement is completed by early next year.

Submitted by:
Chan Wang Kin   
Managing Director   


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


ABICO HOLDINGS: Informs SET of Creditors' Meeting Results
---------------------------------------------------------
Abico Holdings Public Co., Ltd. as the planner for the business
restructuring the Company, informed the Stock Exchange of
Thailand (SET) that as the official receiver made an appointment
for the meeting of creditors to consider the debtor's business
restructuring plan on November 12,2004,at 9:30 a.m., it appeared
that the creditors' meeting had a resolution to accept the
restructuring plan under Section 90/46(2), 90/48 and Section 6
of Bankruptcy Act 2483, and had a resolution to approve the
restructuring plan with majority vote, totaling 63.74 percent.

The Central Bankruptcy Court sets the date of appointment for
considering the Restructuring Plan which obtained the acceptance
in the creditors' Meeting on November 29,2004, at 9:00 a.m.

Forwarded for you information.  The Company will inform the SET
on any progress of the plan.

Sincerely yours,
Abico Holdings Public Co., Ltd.
In the status of Planner
Chatchai  Boonyarat
Kitti Vilaivarangkul

CONTACT:

Abico Holdings Pcl   
Abico Tower, Floor 5, 401/1 Moo 8,
Phaholyothin Road Lam Luk Ka Pathum Thani    
Telephone: 0-2992-5858 (14 Lines)   
Fax: 0-2992-5878-9   
Website: www.abicogroup.com
  

DATAMAT: Unveils Results of Extraordinary Shareholders' Meeting
---------------------------------------------------------------
Datamat Public Company Limited advised the Stock Exchange of
Thailand that during the Company's Extraordinary shareholders
meeting held on November 22 at 2:00 p.m. held at Ballroom B, 7th
floor, The Westin Grande Sukhumvit, Hotel, the following details
were resolved:  

(1) The Meeting resolves to approve the Minutes of the Annual
General Shareholders' Meeting No. 36, held on May 26, 2004.

(2) The Meeting resolves not to approve the Company's capital
decrease by canceling the unsubscribed shares. There were 17
shareholders, who holds 201,649,503 shares totaling of 46.13
percent of shares of the shareholders who attended the Meeting
which did not approve the mentioned agenda.  And there were 147
shareholders who holds 235,187,143 shares, totaling 53.80
percent of shares of the shareholders attending the Meeting
disapproved, and there was 1 shareholder with 100,000 who did
not vote.

Due to the Meeting's resolution not to approve the Company's
capital decrease, the Meeting could not continue in the next
agenda since there were connected agendas, such as: the
Company's capital increase, the amendment of the Company's
Memorandum of Association and the issuance and offer of
Warrants.

Please be informed accordingly.

Yours faithfully,
Kusol Sangkananta
Director and Secretary to 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   
Website: www.datamat.co.th


THAI GERMAN: Reduces Registered, Paid-up Capital
------------------------------------------------
Thai German Products Public Company Limited (TGPRO) informed the
Stock Exchange of Thailand (SET) that it has completed the legal
process required for decreasing the Company's registered and
paid-up capital, by reducing the par value from THB10 to THB1
without any changes in the number of shares.

As a result of actions taken, there will be a subsequent
decrease in the Company's registered and paid-up capital in the
trading system, effective November 26, 2004 onwards.

Remark:

As TGPRO stocks are still suspended from trading, the stocks can
be traded under the new par value of 1 baht when the stocks are
allowed to resume for trading.

CONTACT:

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


THAI GERMAN: Completely Changes Par Value Under Rehab Scheme
------------------------------------------------------------
The Central Bankruptcy Court issued an order approving the
petition requesting the amendment of the business reorganization
plan of Thai German Products Public Company Limited on July 23,
2004, and The Central Bankruptcy Court also issued an order
approving the changing of registered capital of the Company on
August 4, 2004.

The Company, through PLV and Associates Company Limited, the
plan administration, hereby informs the Stock Exchange of
Thailand (SET) that the Company has completely changed its par
value as mentioned in the business reorganization plan number
6.5 (10).  

The Company has changed par value the changing par value of the
shares from THB10 per share to THB1 per share.  Therefore, the
registered capital of the Company was decreased from
THB3,416,666,670 to THB341,666,667 divided into 341,666,667
shares with the par value of one (1) THB per share and the paid-
up capital of the Company was decreased from THB3,245,833,330 to
THB324,583,333 divided into 324,583,333 shares with the par
value of THB1 per share.  

The Company completes filing of registration on the change in
registered capital and paid-up as mentioned to the Ministry of
Commerce on November 19, 2004.

Please be informed accordingly.

Yours Sincerely,
(Mr. Apinun Ratchatasombat)
Executive Planner Representation


TONGKAH HARBOUR: Releases List of 2005 Annual Holidays
------------------------------------------------------
Tongkah Harbour Public Company Limited and Group of Companies
advised the Stock Exchange of Thailand (SET) that it has set the
annual holidays for the year 2005.

(1) Monday       3 January      New Year Day
(2) Wednesday    23 February    Maka Bucha Day
(3) Wednesday    6 April        Chakri Day
(4) Wednesday    13 April       Songkran Day
(5) Thursday     14 April       Songkran Day
(6) Friday       15 April       Songkran Day
(7) Monday       2 May          National Labour Day
(8) Thursday     5 May          Coronation Day
(9) Monday       23 May         Visaka Bucha Day
(10) Friday      22 July        Buddhist Lent Day
(11) Friday      12 August      H.M. The Queen's Birthday
(12) Monday       24 October    Chulalongkorn Day
(13) Monday       5 December    H.M. The King's Birthday
(14) Monday       12 December   Constitution Day

Mr. Ronald Ng Wai Choi
Managing Director
18 November 2004

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   




                            *********


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
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