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

                     A S I A   P A C I F I C

             Thursday, December 9, 2004, Vol. 7, No. 244

                            Headlines

A U S T R A L I A

ABRAJON PTY.: To Wind Up Voluntarily
BIG KEV'S: Heads for Another Half-year Loss
BUNGAYE PTY: Enters Winding Up Proceedings
CHALRA PTY: Members Resolve To Wind Up Voluntarily
EDWARDS AUSTRALIA: Final Meeting Set December 14

G.T.C. METALS: To Undergo Winding Up Proceedings
HIH INSURANCE: APRA Announces Further Disqualification
HOCKNEY PTY: Voluntarily Winds Up
JINDALEE FARMS: Joint and Several Liquidators Appointed
MY HAIR: Final Meeting Slated for December 14

NATIONAL AUSTRALIA: Struggles to Keep Up Dividend
NATIONAL EXPRESS: Delays Declaration of First Dividend
OAKWOOD PROPERTY: Court Appoints Receivers and Managers
PARMALAT AUSTRALIA: Disposes of Coke Franchise
QUANTEST PTY: Sets December 14 as Date of Final Meeting

RUSKIN EXECUTIVES: To Hold Final Meeting on December 14
SPECIFIC ENGINEERING: Schedules Final Meeting on December 14
TKL CORPORATION: Court Appoints G.A. Crisp as Liquidator
V/LINE PASSENGER: Issues Notice to Postpone Dividend Declaration
WARATAH CREST: To Hold Final Meeting on December 14


C H I N A  &  H O N G  K O N G

FUNRISE INTERNATIONAL: Creditors to Prove Debts by Jan. 3
IXNET HONGKONG: Creditors Must Submit Claims by Dec. 17
MAJONE GARMENT: Creditors to Prove Debts by Dec. 24
MIL-FLOW LIMITED: Court to Hear Bankruptcy Petition on Nov. 24
SINO ZOOM: Schedules Creditors, Contributories First Meetings

WAH HIP: To Hold First Meetings on Jan. 4
* State to Bailout Two More Banks


I N D O N E S I A

ASIA PULP: Snags Debt Restructuring Approval
BANK PERMATA: Government Reaps US$126 Mln from 20% Stake Sale
SEMEN GRESIK: Government May Offer Cemex More Shares


J A P A N

ALL NIPPON: Opens New High-tech Terminal at Tokyo Haneda Airport
FUJIKANTORIOTAKIJOGORUFUKURABU Y.K.: Enters Bankruptcy
FUJIKANTORI TOMIOKA: Declared Bankrupt
JAPAN AIRLINES: To Launch New Style Lounges at Haneda Terminal
KANEBO LIMITED: Introduces New OTC Sinus Medicine to Market

MITSUBISHI MOTORS: Recalls 60,482 Vehicles for Faulty Brake Part
MITSUBISHI MOTORS: Back on Top-30 Best-Selling Car List
SAN-AI OIL: JCR Assigns BBB to Bonds
UFJ HOLDINGS: Denies Decision on Merging Leasing Arm With MTFG's


K O R E A

LG CARD: Group Could Reject New Bail Out Proposal
LG CARD: Delinquency Ratio Falls to 20.9%
* NTS Demands KRW27-Bln in Taxes from Four Banks


M A L A Y S I A

AOKAM PERDANA: Details Rescue Scheme Update
BUKIT KATIL: AGM Set for December 30
CONSOLIDATED FARMS: Court Oks Restraining Order Extension
CONSOLIDATED FARMS: Receives Writ of Summon
FABER GROUP: Lists Additional Shares

INNOVEST BERHAD: Details Restructuring Scheme Proposal
NALURI BERHAD: Appoints New Director
PARK MAY: Selling Properties to Kumpulan Kenderaan
PWE INDUSTRIES: Details Corporate Restructuring Proposal
SRI HARTAMAS: Schedules AGM on December 29

TRADEWINDS CORPORATION: Issues Expiry of Warrants Notice
TRU-TECH HOLDINGS: Posts Amended Restraining Order Notice


P H I L I P P I N E S

MAYNILAD WATER: Court Extends Rehab Deadline
NATIONAL POWER: Watchdog Head Says Losses Mounting
PHILIPPINE LONG: Issues Additional Listing Of Shares
* Fitch Revises Philippines' Outlook To Negative


S I N G A P O R E

CHINA AVIATION(S): Four Executives Hand In Passports
CHINA AVIATION(S): Faces Lawsuit by Indonesian Investors
PANPAC MEDIA: Notes Change in Shareholder's Interest
PANPAC MEDIA: Reveals Change in Shareholding
REGENCY LEISURE: Court Issues Winding Up Order

SIN YONG: Releases Notice of Winding Up Order
SINGAPORE PRESS: Channel I to Close January 1
SINGAPORE PRESS: Completes Staff Rationalization
TREND RESTAURANT: Receives Winding Up Order


T H A I L A N D

KRUNG THAI: Details Procedure of Rights Exercise

     -  -  -  -  -  -  -  -

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A U S T R A L I A
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ABRAJON PTY.: To Wind Up Voluntarily
------------------------------------
Notice is hereby given that at a Meeting of Members of Abrajon
Pty. Ltd. (Proposed Liquidation) A.C.N. 065 938 918 held on 19
October 2004, it was resolved that the Company be wound up
voluntarily and at a Meeting of the Creditors held on the same
day pursuant to Section 497 it was resolved that for such
purpose, Barry Keith Taylor, of B.K. Taylor & Co., 8th Floor,
608 St Kilda Road, Melbourne be appointed Liquidator.

Dated this 19th day of October 2004

Barry Keith Taylor
Liquidator


BIG KEV'S: Heads for Another Half-year Loss
-------------------------------------------
Troubled stain-removing firm Big Kev's Limited has warned it
would tally another huge first-half loss reaching AU$750,000,
according to The Age.

The Company made the warning three weeks after its excitable
founder, Kevin McQuay, resigned.

In a statement, Big Kev's said it was "discouraged" by a recent
investigation into the salability of its stock amid the prospect
of Woolworths and Coles no longer stocking Big Kev's Goo Remover
next year.

The new chair of the cleaning group, Bruce Judge, who once
presided over the biggest-ever corporate loss (AU$640 million)
in Australian history with Adriadne in 1988, said Big Kev's
could no longer rely on cleaning products alone.

Meanwhile, the Company said that AU$291,121 had been paid in
directors' fees in the first half.

CONTACT:

Big Kev's Limited
4/8 Reichert Drive,
Ernest, Queensland,
Australia, 4214  
Telephone: 07 5594 6233  
Fax: 07 5594 7811  


BUNGAYE PTY: Enters Winding Up Proceedings
------------------------------------------
Notice is now given that at meetings of members and creditors of
Bungaye Pty Ltd (In Liquidation) A.B.N. 82 079 168 362 convened
pursuant to Section 497(1)&(2) of the Corporations Act 2001 and
held on 15th October 2004, creditors resolved that the Company
be wound up and pursuant to Section 491(1) of the Corporations
Act 2001 R.A. Sutcliffe was appointed liquidator.

Dated this 15th day of October 2004

R.A. Sutcliffe
Liquidator
Ground Floor, 192-198 High Street,
Northcote Vic 3070
Telephone: (03) 9482 6277


CHALRA PTY: Members Resolve To Wind Up Voluntarily
--------------------------------------------------
At a General Meeting of Chalra Pty Ltd A.C.N. 004 917 195, duly
convened and held at 1st Floor, 589 Glenhuntly Road,
Elsternwick, Victoria on 15 October 2004 the following Special
Resolution passed:

(1) That the Company be wound up as a Members' Voluntary
Liquidation, and

(2) That the assets of the Company may be distributed in whole
or in part to the members in specie should the liquidators so
desire.

Dated this 15th day of October 2004

Robert H. Wald
Liquidator
Bell Partners Pty Ltd
1st Floor 589 Glenhuntly Road,
Elsternwick Vic 3185


EDWARDS AUSTRALIA: Final Meeting Set December 14
------------------------------------------------
Notice is given that pursuant to Section 509(1) of the
Corporations Law, a final meeting of members and creditors of
Edwards Australia Pty Ltd A.C.N. 084 975 413 (In Liquidation)
will be held in the Meeting Room, Judson & Co, 1st Floor, 10
Park Road, Cheltenham on the 14 December 2004 at 11:00 a.m.

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

Dated this 22nd day of October 2004

Richard Judson
Liquidator
Judson & Co
Chartered Accountants
1st Floor, 10 Park Road,
Cheltenham 3192
Telephone: 9585 5227


G.T.C. METALS: To Undergo Winding Up Proceedings
------------------------------------------------
Notice is now given that at a meeting of members and creditors
of G.T.C. Metals Pty Ltd (In Liquidation) A.B.N. 23 100 467 829
convened pursuant to Section 497(1)&(2) of the Corporations Act
2001 and held on the 19th of October 2004 creditors resolved
that the Company be wound up and pursuant to Section 491(1) of
the Corporations Act 2001 R.A. Sutcliffe was appointed
liquidator.

Dated this 19th day of October 2004

R.A. Sutcliffe
Liquidator
Ground Floor, 192-198 High Street,
Northcote Vic 3070
Telephone: (03) 9482 6277


HIH INSURANCE: APRA Announces Further Disqualification
------------------------------------------------------
In relation to the case of HIH Insurance Limited, the Australian
Prudential Regulation Authority (APRA) has announced the
disqualification of Mr. Milan Vukelic from being or acting as a
Director or senior manager of a general insurer or authorized
non-operating holding Company, or a senior manager or agent of a
foreign general insurer in Australia.

Mr. Vukelic was employed by the General Re (GR) group of
reinsurers and was involved in the implementation of a financial
reinsurance transaction between the group's Australian
subsidiary, General & Cologne Reinsurance Australia (GCRA), and
FAI Limited (FAI). The arrangement, which improperly boosted
FAI's 1997/98 Profit and Loss, was disguised as a number of
traditional reinsurance transactions with the risks for GCRA
removed through side letters.

Mr. Vukelic is currently the Chief Executive Officer of the
London-based Faraday Group (Faraday), which encompasses Faraday
Underwriting and Faraday Reinsurance Co. Ltd. Faraday is a
member of the GR group, a wholly owned subsidiary of Berkshire
Hathaway.

APRA has advised the Financial Services Authority in the United
Kingdom of its decision.

The Australian Prudential Regulation Authority (APRA) is the
prudential regulator of the financial services industry. It
oversees banks, credit unions, building societies, general
insurance and reinsurance companies, life insurance, friendly
societies, and most members of the superannuation industry.

APRA is funded largely by the industries that it supervises. It
was established on 1 July 1998.APRA currently supervises
institutions holding approximately AU$2.0 trillion in assets for
20 million Australian depositors, policyholders and
superannuation fund members.

Media and industry inquiries only: Susan Morey
Head of Public Affairs
Australian Prudential Regulation Authority
Telephone: 02 9210 3384
Mobile: 0438 124 524

All other inquiries: APRA Contact Centre
Telephone: 1300 131 060


HOCKNEY PTY: Voluntarily Winds Up
---------------------------------
At a general meeting of the members of Hockney Pty Ltd (In
Liquidation) A.C.N. 002 542 172 held at 7 Unwin Street,
Rosehill, NSW 2142 on 20 October 2004, a special resolution that
the Company be wound up voluntarily was passed.

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


JINDALEE FARMS: Joint and Several Liquidators Appointed
-------------------------------------------------------
Notice is hereby given that at a General Meeting of Members of
Jindalee Farms Pty Ltd (In Liquidation) A.C.N. 073 785 234 duly
convened and held at Level 6, 161 Collins Street, Melbourne on
25 October 2004, a Special Resolution that the Company be wound
up voluntarily was passed by members and Andrew Reginald Yeo and
Gess Michael Rambaldi were appointed Joint & Several
Liquidators.

Dated this 25th day of October 2004

A.R. Yeo
G.M. Rambaldi
Joint & Several Liquidators
Pitcher Partners
Level 6, 161 Collins Street,
Melbourne Vic 3000


MY HAIR: Final Meeting Slated for December 14
---------------------------------------------
Notice is given that pursuant to Section 509(1) of the
Corporations Law, a final meeting of members and creditors of
each of My Hair & Beauty Management Services Pty Ltd A.C.N. 081
963 028 (In Liquidation) will be held in the Meeting Room,
Judson & Co, 1st Floor, 10 Park Road, Cheltenham on the 14
December 2004 at 10:30 a.m.

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

Dated this 22nd day of October 2004

Richard Judson
Liquidator
Judson & Co
Chartered Accountants
1st Floor, 10 Park Road,
Cheltenham 3192
Telephone: 9585 5227


NATIONAL AUSTRALIA: Struggles to Keep Up Dividend
-------------------------------------------------
National Australia Bank (NAB) has paid Wednesday its second-half
dividend despite speculation that its financial plight will make
it hard to maintain, The Age reveals.

A fully franked dividend of 83 cents or AU$1.66 for the full
year was announced last month during the release of NAB's full-
year results.

However, sustainability of the dividend is bleak as it depends
on earnings of AU$2 billion, a tough target when earnings will
be under pressure during the first half of next year.

"This is 25 per cent above the most recent results," ABN Amro
banking analyst Jonathan Reoch said.

"We have serious concerns over NAB's momentum and ability to
return to this level within a couple of years. This will affect
NAB's ability to sustain dividend levels without adversely
impacting capital in the medium term."

Mr. Reoch believes that continued losses in market share and
intense competition in the industry will hamper NAB's recovery
during a period of uncertainty as a new management team employs
its new strategy.

CONTACT:

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


NATIONAL EXPRESS: Delays Declaration of First Dividend
------------------------------------------------------
The first dividend which was to be declared on 22 October 2004
for National Express Group Australia (Swanston Trams) Pty Ltd
A.C.N. 087 494 997 has been postponed until further notice.

Dated this 21st day of October 2004

Simon A. Wallace-Smith
Peter G. Yates
Deed Administrators
c/- Deloitte Touche Tohmatsu
Level 15, 505 Bourke Street,
Melbourne Vic 3000


OAKWOOD PROPERTY: Court Appoints Receivers and Managers
-------------------------------------------------------
Notice is given that the Supreme Court of Queensland has
appointed Receivers and Managers to the property described in
the schedule hereto of Oakwood Property Management Pty Ltd
A.C.N. 089 716 101.  The appointment was made on 12 October 2004
pursuant to Proceeding Matter No. BS8765 of 2004.

The persons appointed as Receivers and Managers are John Richard
Park and Robert William Hutson both registered liquidators of
KordaMentha (Qld), Level 1, 307 Queen Street, Brisbane
Queensland 4000.

SCHEDULE OF PROPERTY

The property in respect of which the appointment is made is the
debtors and other assets, property or effects belonging to the
Company.

Dated this 18th day of October 2004

J.R. Park
R.W. Hutson
Joint & Several Receivers & Managers
KordaMentha
Level 1, 307 Queen Street,
Brisbane Qld 4001
Telephone: 07 3225 4900,
Facsimile: 07 3225 4999


PARMALAT AUSTRALIA: Disposes of Coke Franchise
----------------------------------------------
Ailing Parmalat Australia has divested its Coca-Cola franchise
in the Northern Territory to Coca-Cola Amatil, reports The
Advertiser.

Amid rumors, the dairy firm insisted the sale was not a prelude
to a wider sale of the Company.

Parmalat managing director David Lord explained the recent
divestment was part of its "national strategy to focus on its
dairy products business".

He also stressed that the Company had no intention of selling
other assets and that the Coke franchise sale should not be
considered a sign that the whole Company was prepared for the
sale.

Parmalat's Italian parent company collapsed with debts of more
than US$12 billion (AU$15.5 billion) last December and its
administrators have since been selling some non-core assets.

Several firms, such as National Foods, New South Wales co-
operative Dairy Farmers and Coca-Cola Amatil, have been keen on
Parmalat's Australian venture but management has always insisted
that it is viable and not for sale.

CONTACT:  

Parmalat Australia
Katie Bickford
Phone: (07) 3230 5000
Or 0417 763 741
Damien Jones
Phone: (07) 3230 5000
Or 0413 339 727


QUANTEST PTY: Sets December 14 as Date of Final Meeting
-------------------------------------------------------
Notice is given that pursuant to Section 509(1) of the
Corporations Law, a final meeting of members and creditors of
each of Quantest Pty Ltd A.C.N. 052 500 295 (In Liquidation)
will be held in the Meeting Room, Judson & Co, 1st Floor, 10
Park Road, Cheltenham on the 14 December 2004 at 11:30 a.m.

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

Dated this 22nd day of October 2004

Richard Judson
Liquidator
Judson & Co
Chartered Accountants
1st Floor, 10 Park Road,
Cheltenham 3192
Telephone: 9585 5227


RUSKIN EXECUTIVES: To Hold Final Meeting on December 14
-------------------------------------------------------
Notice is given that pursuant to Section 509(1) of the
Corporations Law, a final meeting of members and creditors of
each of Ruskin Executives A.C.N. 091 094 754 (In Liquidation)
will be held in the Meeting Room, Judson & Co, 1st Floor, 10
Park Road, Cheltenham on the 14 December 2004 at 12:00 a.m.

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

Dated this 22nd day of October 2004

Richard Judson
Liquidator
Judson & Co
Chartered Accountants
1st Floor, 10 Park Road,
Cheltenham 3192
Telephone: 9585 5227


SPECIFIC ENGINEERING: Schedules Final Meeting on December 14
------------------------------------------------------------
Notice is given that pursuant to Section 509(1) of the
Corporations Law, a final meeting of members and creditors of
Specific Engineering Pty Ltd A.C.N. 051 157 307 (In Liquidation)
will be held in the Meeting Room, Judson & Co, 1st Floor, 10
Park Road, Cheltenham on the 14 December 2004 at 10:00 a.m.

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

Dated this 22nd day of October 2004

Richard Judson
Liquidator
Judson & Co
Chartered Accountants
1st Floor, 10 Park Road,
Cheltenham 3192
Telephone: 9585 5227


TKL CORPORATION: Court Appoints G.A. Crisp as Liquidator
--------------------------------------------------------
On the 20 October, 2004 the Supreme Court of Victoria in
Proceeding No. 7890 of 2004, ordered the winding up of TKL
Corporation Pty Ltd and G.A. Crisp was appointed as official
liquidator of the Company.

Dated this 25th day of October 2004

G.A. Crisp
Official Liquidator
c/- RSM Bird Cameron Partners
Level 8, 525 Collins Street,
Melbourne Vic 3000


V/LINE PASSENGER: Issues Notice to Postpone Dividend Declaration
----------------------------------------------------------------
The first dividend which was to be declared on 22 October 2004
for V/Line Passenger Pty Ltd formerly known as National Express
Group Australia (V/Line Passenger) Pty Ltd (Subject To Deed Of
Company Arrangement) A.C.N. 087 425 269 has been postponed until
further notice.

Dated this 21st day of October 2004

Simon A. Wallace-Smith
Peter G. Yates
Deed Administrators
c/- Deloitte Touche Tohmatsu
Level 15, 505 Bourke Street,
Melbourne Vic 3000


WARATAH CREST: To Hold Final Meeting on December 14
---------------------------------------------------
Notice is given that pursuant to Section 509(1) of the
Corporations Law, a final meeting of members and creditors of
Waratah Crest Pty Ltd A.C.N. 067 787 928 will be held in the
Meeting Room, Judson & Co, 1st Floor, 10 Park Road, Cheltenham
on the 14 December 2004 at 9:30 a.m. indicated above.

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

Dated this 22nd day of October 2004

Richard Judson
Liquidator
Judson & Co
Chartered Accountants
1st Floor, 10 Park Road,
Cheltenham 3192
Telephone: 9585 5227


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C H I N A  &  H O N G  K O N G
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FUNRISE INTERNATIONAL: Creditors to Prove Debts by Jan. 3
---------------------------------------------------------
Notice is hereby given that the creditors of Funrise
International Limited, which is being wound up voluntarily, are
required on or before 3 January 2005 to send their names and
addresses, with full particulars of their debts or claims, and
the names and addresses of their solicitors, if any, to the
undersigned.

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

Dated this 3 December 2004

(Sd.) Cheng Kwok Wai David
Cheng Kwok Wai DavidJoint and Several LiquidatorFunrise
International Limited6th Floor, Wheelock House20 Pedder Street,
CentralHong Kong


IXNET HONGKONG: Creditors Must Submit Claims by Dec. 17
-------------------------------------------------------
Notice is hereby given that the creditors of Ixnet HongKong
Limited, which is being wound up by the Court, are required on
or before the 4:00 p.m. on 17 December 2004, if they have not
already done so, to prove their debts or claims by filing a
proof of debt at the Official Receiver's Office at the 10th
Floor, Queensway Government Offices, 66 Queensway, Hong Kong and
establish any title that they may have to priority under under
Section 265 of the Companies Ordinance or in default thereof.

They will be excluded from the benefit of the distribution made
next after that date and from the benefit of the distribution
made next after that date and from the benefit of any previous
distribution or as the case maybe from objecting to such
distribution.

Dated this 3rd day of December 2004.

Wong Kwok Man
Joint and Several Liquidators
13th Floor, Gloucester Tower
The Landmark
11 Pedder Street Central
Hong Kong


MAJONE GARMENT: Creditors to Prove Debts by Dec. 24
---------------------------------------------------
Notice is hereby given that the creditors of Majone Garment
Factory Limited, which is being wound up by the Court, (if they
have not already done so), are required on or before 4:30 p.m.
on 24th December 2004, to send in their names, addresses and
particulars of their debts or claims, and the name and address
of their solicitors, if any, to the Official Receiver's Offices,
66 Queensway, Hong Kong.

In order to establish any title they may have to priority under
Section 265 of the Companies Ordinance or in default thereof
they will be excluded from the benefit of the distribution made
next after 24th December 2004 as the case may be from objecting
to such distribution.

Dated this 3rd day of December 2004

Darach E. Haughey
Joseph K. C. Lo
Joint and Several Liquidators
26th Floor, Wing On Centre
111 Connaught Road Central
Hong Kong


MIL-FLOW LIMITED: Court to Hear Bankruptcy Petition on Nov. 24
--------------------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Mil-Flow Limited by the High Court of Hong Kong Special
Administrative Region was on the 24th day of November 2004
presented to the said Court by Tai Hing Linings Company Limited
whose registered office is situated at Basement, Kwong Loong Tai
Building, 1016-1018 Tai Nam West Street, Kowloon, Hong Kong.

The said Petition will be heard before the Court at 9:30 am on
the 26th day of January 2005.

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

Messrs. King & Co.
Solicitors for the Petitioner
12th Floor, New World Tower II
18 Queen's Road Central
Hong Kong

Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention to do so. The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the above named not
later than six o'clock in the afternoon of the 25th day of
January 2005.


SINO ZOOM: Schedules Creditors, Contributories First Meetings
-------------------------------------------------------------
Sino Zoom Limited will hold its firsts meetings of its creditors
and contributories on December 15, 2004 at 10:00 a.m. and 11:00
a.m. respectively.

Address: At the Official Receiver's Office, 10th floor,
Queensway Government Offices, 66 Queensway, Hong Kong.

Dated this 3rd day of December 2004

E T O'CONNELL
Official Receiver & Provisional Liquidator


WAH HIP: To Hold First Meetings on Jan. 4
-----------------------------------------
Wah Hip Engineering Company Limit will hold its first meetings
of its creditors and contributories on January 4, 2005 at 2:30
p.m. and 3:30 p.m. respectively.

Place: The Official Receiver's Office, 10th Floor, Queensway
Government Offices, 66 Queensway, Hong Kong.

Dated this 3rd day of December 2004

E T O'CONNELL
Official Receiver & Provisional
Liquidator


* State to Bailout Two More Banks
---------------------------------
After injecting finances into China Construction Bank and
Agricultural bank, China is once again set to bail 2 other state
banks, namely Agricultural Bank of China (ABC) and Industrial
and Commercial Bank (ICBC), Xinhuanet reports.

Vice Minister of Finance Lou Jiwei said that the Chinese
government is prepared to inject money into the Industrial and
Commercial Bank of China (ICBC) and the Agricultural Bank of
China (ABC). He made the remark just two days after China
Banking Regulatory Commission chairman Liu Mingkang said that
the two banks are crucial in the banking sectors' overhaul.
However, Lou did not state when and how much money would be
released to the two banks.

If the plan pushes through, this would be the second bailout
since the end of 2003, when the state granted CNY45 billion to
both Construction Bank and Bank of China.

Mr. Lou said that the capital injection would aid spin off non-
performing loans (NPL) from the banks and create a new corporate
governance structure.

China, which is known for over-regulation, will try to keep its
regulations in check in driving the banks to reform, as the
regulators role now is to affirm the genuineness of financial
information published by the companies.

Of China's Big Four banks, ICBC and ABC have long been seen as
the weaker of the state banks and are also burdened with
billions of dollars of non-performing loans. According to
government figures, at the end of September CNY1.7 trillion
(US$205 billion) of NPL increasing from CNY1.66 trillion at the
end of June.

China hopes to reform the banking system in order to be
competitive when the banking sector is opened in early 2007.


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


ASIA PULP: Snags Debt Restructuring Approval
--------------------------------------------
After prolonged negotiations, embattled Asia Pulp & Paper
Limited has finally obtained the approval of 93 percent of its
creditors to carry out the debt restructuring of its Indonesian
subsidiaries, according to Asia Pulse.

The master restructuring agreement (MRA), which was already
signed by several creditors on Oct. 20, 2003, will be fully
effective from Jan. 31, 2005, during which the first installment
will be paid.

Debt owed by APP units Indah Kiat Pulp and Paper, Pabrik Kertas
Tjiwi Kimia and Pindo Deli and Paper Mills, would be covered in
the repayment schedule. The US$4.7 billion would not include 800
million in bonds issued by Indah Kiat and APP's fourth
Indonesian unit Lontar Papyrus, which is facing litigation
proceedings in Jakarta and New York courts.

Under the restructuring scheme, APP is expected to concentrate
more on boosting its performance.

APP, the largest corporate defaulter in merging markets history,
has total debts of US$13 billion, including some US$6 billion
owed by its Indonesian units.

The cash-strapped pulp and paper firm is owned by the Sinar Mas
Group, one of the country's largest conglomerates before the
economic crisis.

CONTACT:

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


BANK PERMATA: Government Reaps US$126 Mln from 20% Stake Sale
-------------------------------------------------------------
The government gained IDR1.161 trillion (around US$126 million)
from the sale of its 20-percent stake in PT Bank Permata, Asia
Pulse says.

The Asset Management Agency (PPA) sold the stake at IDR750 per
share, reflecting 2.91 times the price-to-book value (PBV) of
Permata shares by June 2004.

According to PPA President Mohammad Syahrial, the sale price was
higher than the IDR703 price paid by a consortium of Standard
Chartered Bank and PT Astra International when it bought a 51-
percent stake in the bank last month.

PPA will give the money earned from the payment of Bank Permata
divestment to the government account as additional PPA payment
for funding the 2004 State Budget.

CONTACT:

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


SEMEN GRESIK: Government May Offer Cemex More Shares
----------------------------------------------------
The government said it plans to offer Mexican cement giant Cemex
SA a majority stake in state-owned Semen Gresik, in a bid to
resolve the protracted investment dispute between them, reports
The Jakarta Post.

The announcement came after the option of buying back Cemex's
shares in Semen Gresik expired.

"Cemex has said that it will not sell its shares, so any notion
of the government buying them back is now out of the question,"
Coordinating Minister for Economy Aburizal Bakrie said. "The
government also has no money."

It is understood that the government will not pay any
compensation claims to resolve the dispute out of Court. One of
the possible options for settlement, therefore, was to let Cemex
buy more shares in Gresik.

Mr. Aburizal said Gresik could sell 49 percent to 51 percent of
its shares to Cemex as long as they are sold at a good price.

Cemex currently has a 25.53 percent stake in the publicly listed
SG, while the government has a 51.01 percent stake. The
remaining 23.46 percent is held by the investing public.

Previously, the government has offered to repurchase Cemex
shares in Gresik to settle the dispute. But the plan was never
realized.

A source at the Office of the State Minister for State
Enterprises said Cemex had asked the government to buy back its
shares at a price of at least IDR14,500 per share, or about
IDR4.5 trillion (US$500 million) for the full stake.

Cemex had earlier filed a lawsuit against Indonesia with the
Washington-based International Centre for Settlement of
Investment Disputes (ICSID) for having reneged its obligation to
execute its put option to sell its 51 percent stake in Semen
Gresik to Cemex.

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/


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


ALL NIPPON: Opens New High-tech Terminal at Tokyo Haneda Airport
----------------------------------------------------------------
All Nippon Airways (ANA) last week moved its main domestic hub
operation at Tokyo Haneda Airport, through which more than 60%
of its passengers move, to the new Terminal 2.

The JPY67 billion (approximately US$650 million) terminal
building covers 51,000 square meters, or about 550,000 square
feet, and has five levels above ground plus one below. The new
terminal has 15 gates, from which up to 90% of flights will
operate. Total space in the building is 180,000 square meters,
or nearly two million square feet.

At a ceremony to mark the new terminal's opening this morning,
ANA President and CEO Yoji Ohashi said: "This magnificent new
building is yet another milestone in ANA's drive to make one of
Asia's best airlines even better by providing our customers with
airport facilities that equal the best in the world."

The Keikyu railway serves the new building from the existing
station that also serves Terminal 1, connecting Haneda to
Shinagawa Station in central Tokyo in less than 30 minutes. A
new monorail station also is being built beneath Terminal 2.
Haneda Airport is located just 20 minutes by monorail from JR
Hamamatsucho Station in Tokyo.

A new hotel, the 387-room Tokyu Excel, is connected to the
terminal on the departure level. International flights from
Haneda will continue to operate from the International Terminal,
adjacent to Terminal 2.

The new building, which faces Tokyo Bay, features a bright and
open design. In ANA advertising it is dubbed "the airport with
the private beach." The entire facility reflects that design
theme, in the color of the floor tiles and carpets, the check-in
counters and the structure itself, which has a wave design. Even
the observation platform has a wooden deck and tables and chairs
from which to enjoy views of the aircraft coming and going.

For ANA, the move signifies even greater differentiation from
its competitors. It now offers passengers a more convenient and
user-friendly facility designed for universal access. Physical
disability should be no barrier: everything from the height of
the counters to the position of the signs and information
screens, to wider moving walkways allowing people to pass
alongside wheel chairs is in place.

This is Japan's first airport terminal to have electric carts at
passengers' disposal. Similarly, everything is designed to allow
ease of flow for arriving and departing passengers, who are
segregated once airside, thus avoiding bottlenecks, confusion
and security risks.

To speed the check-in process, ANA has installed 52 Self Check-
in Machines that allow passengers to print boarding passes with
no more than a touch of their mobile phone to a sensor on the
machine. This reduces check-in time from an average of 50
seconds to just eight seconds, compared with manual check-in,
which takes two minutes on average. This is made possible by
Felica RF chip technology, which also enables check-in by mobile
phone or computer prior to arriving at the airport.

In another change, ANA will x-ray check-in baggage after
passengers have checked in. Until now this has taken place
before going to the counter and has resulted in long lines at
busy times, and bottlenecks on the departure level.

An interesting innovation for arriving passengers is the use of
right-side departing bridges at some gates. Normally passengers
exit via one or two boarding bridges, always on the left side of
the aircraft. ANA can now attach three boarding bridges -- two
on the left and one on the right -- to a 747 (seating 569
passengers in a domestic configuration), which means they can
get off more quickly. It's easier for passengers and better for
ANA, which can turn the plane around quicker.

There are also many innovations on the passenger services side
to make life easier for airport staff. For example when
passengers pass through security, their boarding passes are
swiped through a card reader so it is known if they are
"airside." This makes it much easier to find passengers who fail
to board flights after checking in. Similarly, large illuminated
signs listing all the departure gates, located at the exits from
security, will make it less likely that passengers will lose
their way, again assisting on-time departures.

Also new from today, ANA has upgraded its Super Seat service to
Super Seat Premium. Passengers traveling on select ANA domestic
flights can enjoy a separate cabin with larger seats, more
legroom and superior service. Service includes hot towel,
slippers, sumptuous bento lunches and dinners (among other
menus), plus a selection of alcoholic and non-alcoholic
beverages.

The experience begins on the ground with separate check-in and a
luggage allowance of 35 kilos. Super Seat Premium has its own
booking class, whereas Super Seat was booked as an Economy seat
with a supplementary tariff, making pricing more transparent for
the customer.

CONTACT:

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


FUJIKANTORIOTAKIJOGORUFUKURABU Y.K.: Enters Bankruptcy
------------------------------------------------------
Golf course operator Fujikantoriotakijogorufukurabu Y.K. has
entered bankruptcy, according to Teikoku Databank America.

The firm, based in Chuo-ku, Tokyo 104-0031, left a total of
US$268.63 million in liabilities.

For more information, visit http://www.teikoku.com/or contact  
office@teikoku.com or +1-212-421-9805.


FUJIKANTORI TOMIOKA: Declared Bankrupt
--------------------------------------
Fujikantori Tomioka Kurabu K.K. has been declared bankrupt,
leaving a total of US$343.14 million in liabilities, says
Teikoku Databank America.

The golf course operator is based in Naka-ku Nagoya-Shi, Aichi
460-0003.

For more information, visit http://www.teikoku.com/or contact  
office@teikoku.com or +1-212-421-9805.


JAPAN AIRLINES: To Launch New Style Lounges at Haneda Terminal
--------------------------------------------------------------
The Japan Airlines Group, now in the process of renewing and
expanding domestic services at Tokyo Haneda Airport Terminal
One, plans three new luxury lounges - Diamond Premier Lounges -
for the exclusive use of JAL Mileage Bank (JMB) Diamond
cardholders - the highest JMB membership category - and Premier
category members of the JAL Global Club.

The new lounges, each with its own security gate access, will
open in May 2005 and are part of a wide-reaching renewal of
facilities in Haneda's Terminal One that includes expansion of
JAL Group check-in counters, a doubling of the number of
boarding bridges to 24, a 20% increase in self check-in machines
to 62 and eight additional security gates increasing the total
to 30 to improve the flow through inspections.

Up to December 1st JAL occupied only the South Wing of the West
Terminal. With the opening of the new Terminal 2 at Haneda, JAL
is expanding domestic services into the North Wing where the
airline will have double the space available now for passenger
check in operations, and will operate a much more customer
friendly and spacious facility.

Access to the new Diamond Premier Lounges will be through
dedicated security gates directly behind JAL Global Club
counters in the North and South wings of Terminal One. There
will be one 50-seat capacity Diamond Premier Lounge in the South
Wing and two in the North Wing, with 50-seats and 80 seats
respectively. The lounges have direct access to the main
passenger concourse where boarding gates are located.

Members of the JAL Mileage Bank achieve Diamond status through
the accumulation of FLY ON points that are added automatically
to flight miles earned. Depending on the total of FLY ON points,
the more a JMB member flies, the more services are available. To
be a JMB Diamond member needs at least 100,000 FLY ON points or
120 eligible flights.

To qualify as a JAL Global Club Premier member, a traveler must
accrue 70,000 or more FLY ON points or board 80 or more eligible
JAL Group flights in one calendar year.

CONTACT:

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


KANEBO LIMITED: Introduces New OTC Sinus Medicine to Market
-----------------------------------------------------------
Kanebo Limited has announced that its pharmaceutical division
will bring to market an over-the-counter (OTC) drug for sinus
infection at pharmacies and drug stores nationwide on December
7.

Bell MP Rhinitis PE Capsule effectively alleviates allergy
symptoms such as runny and stuffy nose with a twice-a-day
dosage.

The Company aims to achieve JPY200 million (US$1.9 mil) in sales
in the first year.

CONTACT:

Kanebo Limited
3-20-20, Kaigan
Minato-Ku, Tokyo, 108-0022
Phone: 0354463002
Fax: 0354463003
Web site: http://www.kanebo.co.jp/english/Index.htm


MITSUBISHI MOTORS: Recalls 60,482 Vehicles for Faulty Brake Part
----------------------------------------------------------------
Embattled Mitsubishi Motors Corporation is recalling three
vehicle models to fix a defective brake part, which was left
unattended for more than a decade, relates Jiji Press.

The carmaker has notified the transport ministry that it will
call back for free repair a total of 60,482 units of the RVR
station wagon and two other models that were produced between
January 1991 and November 1992.

Struggling MMC has received 12 reports of a faulty brake pipe in
vehicles, including one case that led to an accident in August
1998 in Aichi Prefecture.

In December 1992, MMC changed the design of the brake part.
While the Company continued to receive complaints after the
design change, it opted not to launch a recall, judging that the
defects would come to light through compulsory auto inspections.

In addition to the latest recall on defective brake pipes, MMC
is planning three more recall programs over engines and other
parts.

As a result of its extended investigation, the automaker has
declared a total of 39 recall programs out of 316 cases of in-
house directives to fix faulty defective vehicle parts that
concealed from the public, dating back to 1979.

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


MITSUBISHI MOTORS: Back on Top-30 Best-Selling Car List
-------------------------------------------------------
One of Mitsubishi Motors Corporation's cars was back on the top-
30 list of best-selling cars in Japan in November, says Jiji
Press, citing the Japan Automobile Dealers Association.

Driven by the popularity of the Colt Plus Wagon launched in late
October, MMC mainstay compact car Colt made it to rank 28th.

Due to a series of defect cover-up scandals, Mitsubishi cars
failed to make the top 30 from April to October.

Meanwhile, orders for the Colt models topped 6,000 by the end of
November, but the unit sales figure was much smaller than that
due to delays in their registrations.


SAN-AI OIL: JCR Assigns BBB to Bonds
------------------------------------
The Japan Credit Rating Agency Limited (JCR) has assigned BBB
ratings to the bonds of San-Ai Oil Co., Ltd.

Issues      Amount(bln)  Issue Dates   Due Date       Coupon
bonds no.3  JPY7         Dec. 20, 2004 Dec. 18, 2009  1.14%
bonds no.4  JPY3         Dec. 20, 2004 Dec. 20, 2011  1.66%
Covenants: Negative Pledge
Commissioned Company: No

Rationale:
San-Ai Oil is a major trading firm for fuels and energy of Ricoh
group. It announced on September 17 that it would buy all the
shares of Kygnus Sekiyu, oil distributor, from TonenGeneral
Sekiyu and Nichimo to expand the sales network and to stabilize
the procurement of petroleum products.

San-Ai Oil's acquisition of the shares was completed on December
1. JCR downgraded the long-term rating for San-Ai Oil from #BBB+
to BBB, removing it from Credit Monitor, on November 12. JCR
revised the rating, taking into account impact of acquisition on
San-Ai Oil.

San-Ai Oil then announced the operating results for the first
half of fiscal 2004 ended September 30, 2004. The pretax profit
before extraordinary items for the half year was above the
originally forecasted amount. The earnings power and financial
stability of the Company remain unchanged. The proceeds from
sales of bonds are expected to repay the borrowings and
redemption of the outstanding bonds as well as acquisition of
Kygnus Sekiyu.

CONTACT:

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


UFJ HOLDINGS: Denies Decision on Merging Leasing Arm With MTFG's
----------------------------------------------------------------
UFJ Holdings Incorporated and Mitsubishi Tokyo Financial Group
(MTFG) said no decision was made to combine their leasing and
investment trust units, Reuters says.

The two banking groups, which plan to merge in October next
year, denied a report by the Nihon Keizai business daily that
they would combine Diamond Lease Company Limited and UFJ Central
Leasing Company Limited to form Japan's third-ranked leasing
firm.

The newspaper also reported that Mitsubishi Asset Management
Company and UFJ Partners Asset Management Company would merge to
expand their range of financial products.

In August, MTFG signed a basic agreement to effectively takeover
ailing UFJ. Facing a rival bid for UFJ from Sumitomo Mitsui
Financial Group Inc., the merging companies have been quick to
seal their alliance.

MTFG and UFJ plan to create a holding company and combine their
commercial and trust bank units as well as their securities
units. They are also jointly recruiting staff.

CONTACT:

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


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


LG CARD: Group Could Reject New Bail Out Proposal
-------------------------------------------------
LG Group would most likely deny the call to inject additional
funds in order to rescue the embattled LG Card Co., Agence
France Presse relates.

In January of this year, LG Card has benefited from a huge
rescue package.  LG Group said it would be too much if the card
issuers' creditors ask for more.

So far, LG Group has provided KRW1.175 trillion in financial aid
to LG Card in the form of buying KRW300 billion of corporate
bonds and KRW875 billion worth of commercial paper from the card
issuer.

The state-run Korea Development Bank, LG Card's largest
creditor, has been seeking to convert some KRW1.2 trillion (1.1
billion dollars) of LG Card's debt into equity and has pursued a
massive capital write-down.

LG Group was urged by the Korea Development Bank (KDB) and other
creditors of LG Card to convert KRW875 billion (US$835 million)
of debt to equity.  Creditors plan to take on the remaining
KRW325 billion as part of a new bailout package led by KDB.

According to LG Group the Board is composed mostly of
independent outside directors and is strongly against the
request for a new bailout package.

The Korea Stock Exchange has placed LG Card under surveillance.  
If it were to be delisted, the more difficult it would be for
the card Company to attract potential buyers.

LG posted a recurring profit of KRW23.4 billion in November,
down from KRW17.3 billion in October mainly attributed to the
bailout and its efforts to reduce bad assets.

CONTACT:

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


LG CARD: Delinquency Ratio Falls to 20.9%
-----------------------------------------
Embattled credit card issuer LG Card Co. Ltd said overdue card
ratio dropped in November from a month ago, Reuters relates.  
More cardholders now have honored their bills and have tighter
credit control.

In a filing to the Korea Stock Exchange LG Card disclosed that
the ratio of credit card payments overdue for more than one
month stood at 20.9 percent at the end of November, down from
24.3 percent a month earlier.

The ratio improved following the discussion between LG Card and
its creditors to infuse additional aid to shore up the debt-
ridden Company's capital and avoid delisting.  LG Card creditors
are pushing the former parent group to shoulder the bulk of a
proposed KRW1.2 trillion bailout.

The card issuer also posted KRW23.4 billion (US$22.5 million) in
recurring profits in November against 17.3 billion in October.  

"The numbers were positive and it looks like on an operational
basis they are approaching normalization. Their existing
provisioning basis also seems big enough by now to cover a
reasonable case of asset quality problems," said Bryan Song, an
analyst at Merrill Lynch.

Last month LG Card wrote off KRW373.4 billion worth of
distressed assets down from KRW549.4 billion in October.


* NTS Demands KRW27-Bln in Taxes from Four Banks
------------------------------------------------
Tax authorities will collect around KRW27 billion in combined
taxes from four banks, reports Asia Pulse.

Kookmin Bank is asked to pay the National Tax Service (NTS)
KRW3.9 billion, KorAm Bank for KRW11 billion, Hana Bank for
KRW6.8 billion and KRW4.6 billion from Shinhan.

The taxes were imposed on the banks as a result of undervaluing
their holdings in Samsung Life Insurance Co.'s stocks. The banks
said they will immediately appeal the case to the National Tax
Tribunal.

The tax office found out in its investigation that they
calculated one share of Samsung insurance firm valued between
KRW270,000 and KRW350,000 which is just about the half of the
price when they received their shares in July and August this
year.

The office set the price of one share of the insurance firm at
KRW700,000, in accordance with the price calculated by Samsung
Chairman Lee Kun-hee when he admitted to having mismanaged the
firm and donated his shares to the banks and creditors of
Samsung Motors in 1999.

According to the banks, the shares' going price should be
between KRW300,000 and KRW320,000 in consideration of the price
traded on the unlisted share market.


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


AOKAM PERDANA: Details Rescue Scheme Update
-------------------------------------------
The Board of Directors of Aokam Perdana Berhad has submitted an
application to Bursa Malaysia Securities Berhad to seek for an
extension of time up to 13 December 2004 in order to facilitate
the re-quotation and listing of the Company pursuant to the
rescue scheme.

CONTACT:

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

This announcement is dated 7 December 2004.


BUKIT KATIL: AGM Set for December 30
------------------------------------
Notice is hereby given that the Eighty-Ninth Annual General
Meeting (AGM) of Bukit Katil Resources Berhad will be held on
Thursday, 30 December 2004 at 10 a.m. at Sultan Ballroom 1, Le
Meridien Kuala Lumpur, No. 2, Jalan Stesen Sentral, Kuala Lumpur
Sentral, 50470 Kuala Lumpur for the following purposes:

AGENDA

1. To receive the Audited Financial Statements for the financial
year ended 30 June 2003 together with the Directors' Report and
Auditors' Report thereon. (Resolution 1)
   
2. To re-elect the following Directors who shall retire in
accordance with Article 90 of the Company's Articles of
Association and who being eligible, offered themselves for re-
election:

(a) Datuk Dr. Haji Sallehuddin bin Kassim
(b) Encik Mohammad Siva bin Abdullah
(c) Mr. Alegesam Thangiah
(d) Mr. Lam Yik Meng (Resolution 2)
(Resolution 3)
(Resolution 4)
(Resolution 5)
   
3. To re-elect Encik Kamil bin Datuk Haji Abdul Rahman who shall
retire in accordance with Article 97 of the Company's Articles
of Association and who being eligible, offered himself for re-
election. (Resolution 6)
   
4. To appoint Auditors and to authorise the Directors to fix
their remuneration.

Notice of Nomination pursuant to Section 172 (11) of the
Companies Act, 1965, a copy of which is annexed on page 90 have
been received by the Company for the nomination of Messrs.
Monteiro & Heng, who have given their consent to act, for
appointment as Auditors and of the intention to propose the
following ordinary resolution:

"That Messrs. Monteiro & Heng be and are hereby appointed as
Auditors of the Company in place of the retiring Auditors,
Messrs. Evatt & Co. who do not wish to seek for re-appointment
as Auditors of the Company, to hold office until the conclusion
of the next Annual General Meeting at a remuneration to be
agreed between the Directors and the Auditors." (Resolution 7)  
   
5. As Special Business:

To consider and, if thought fit, to pass the following
resolution:

Ordinary Resolution
- Authority to directors to allot and issue shares

"That, subject always to the Companies Act, 1965, the Articles
of Association of the Company and the approvals of the relevant
governmental/regulatory authorities, the Directors be and are
hereby authorised pursuant to Section 132D of the Companies Act,
1965 to issue and allot shares in the Company at any time until
the conclusion of the next Annual General Meeting 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 to be issued does not exceed ten per
centum of the issued share capital of the Company for the time
being." (Resolution 8)  
   
6. To consider any other business for which due notice shall
have been given.  

By Order of the Board
CHUA SIEW CHUAN (MAICSA 0777689)
LIM YEW HEANG (MAICSA 7007653)
Company Secretaries
Kuala Lumpur
8 December 2004

CONTACT:

Bukit Katil Resources Berhad
Damasara Town Centre
Jalan Damanlela Pusat Bandar Damansara,
Damansara Heights, Kuala Lumpur
50490 MALAYSIA
Telephone: +60 3 2095 7077
Telephone: +60 3 2094 9940


CONSOLIDATED FARMS: Court Oks Restraining Order Extension
---------------------------------------------------------
Consolidated Farms Berhad and its subsidiaries, namely
Consolidated Feedmill Sdn Bhd, Consolidated Breeder Farms Sdn
Bhd, Consolidated Liquid Eggs Sdn Bhd and Consolidated Organic
Fertiliser Sdn Bhd have been granted a restraining and stay
order (RO) for a period of 90 days effective from 6 December
2004 to 5 March 2005 by the High Court of Malaya at Kuala Lumpur
pursuant to Section 176(10) of the Companies Act, 1965.

The aforesaid RO was applied for in order to facilitate the
Proposed Restructuring Scheme, which was announced on 11 October
2004. Upon extraction of the sealed RO from the High Court, the
RO will be deemed personally served on all persons affected by
the RO by way of advertising the RO in both the Star and Berita
Harian newspapers.

The Company does not expect the RO to have any material effect
on the financial and operational matters of ConsFarm and the
Subsidiaries.

CONTACT:

Consolidated Farms Berhad
24-1 Jalan 24/70A,
Desa Sri Hartamas,
50480 Kuala Lumpur
Telephone: 03-23001199
Fax: 03-23002299

This announcement is dated 7 December 2004.


CONSOLIDATED FARMS: Receives Writ of Summon
-------------------------------------------
The Board of Directors of Consolidated Farms Berhad announced
that the Company had been named as defendant in Writ of Summon,
dated 25 November 2004, filed by Superkad Services Sdn. Bhd.
(Superkad) in the Session Court of Kuala Lumpur and served on
Confarm on 7 December 2004.

The suit is in respect of the Shell Card facilities rendered and
delivered to Confarm. Superkad had claimed for the amount of
RM25,445.14 from Confarm, together with late payment charges of
1.5% per month, from 22 July, 2004 until date of judgment and
interest of 8% per annum from the date of judgment until full
resolution, indemnity costs and any other relief to be granted
by the Court and the mention date for the suit has been fixed on
10 January, 2005.

The Company will be appointing lawyers to defend the suit. The
Company will seek the indulgence of the plaintiff for an
abeyance in the proceedings pending the review by the Board of
Directors of Confarm to ascertain its financial position before
deciding the way forward for the Confarm Group.

This announcement is dated 7 December 2004.


FABER GROUP: Lists Additional Shares
------------------------------------
Faber Group Berhad's additional 288,900 new ordinary shares of
RM1.00 each arising from conversion of RM577,800 nominal value
of 2000/2005 irredeemable convertible unsecured loan stocks into
288,900 new ordinary shares will be granted listing and
quotation with effect from 9 a.m., Thursday, 9 December 2004.

CONTACT:

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


INNOVEST BERHAD: Details Restructuring Scheme Proposal
------------------------------------------------------
Innovest Berhad refers to its announcements dated 3 and 8
September 2004 in relation to the application to the Bursa
Malaysia Securities Berhad for an extension of time of up to two
(2) months from 3 September 2004 for the Company to make
applications to the relevant authorities and thereafter another
four (4) months to obtain the approvals from the authorities for
the proposed restructuring scheme.

The Company announced that Bursa Securities, via its letter
dated 6 December 2004, informed the Company that the Bursa
Securities will await the outcome of Innovest's application to
the relevant authorities in relation to the proposed
restructuring scheme.

Bursa Securities' decision is without prejudice to Bursa
Securities' right to proceed to de-list the securities of
Innovest from the Official List of Bursa Securities in the event
Innovest fails to obtain any of the relevant authorities'
approvals necessary for the implementation of its regularization
plans.

In the event that Innovest obtains all the relevant authorities'
approvals necessary for the implementation of its regularization
plans, Innovest must proceed to implement its regularization
plans expeditiously within the time frames stipulated by the
relevant authorities. Bursa Securities' decision is without
prejudice to Bursa Securities' right to proceed to de-list the
securities of Innovest from the Official List of Bursa
Securities in the event that Innovest fails to implement its
regularization plans within the time frame or extended time
frames stipulated by the relevant authorities.

Where any of the following occurs:

(a) Innovest fails to obtain the relevant authorities' approval
of its regularization plans; or

(b) Innovest has obtained the relevant authorities' approval but
fails to implement its regularization plans within the time
frames prescribed by the relevant authorities,

Bursa Securities will consider any written representations that
are filed by Innovest (if any) provided that the same is made
within seven (7) days from the occurrence of any one of the
events above and then proceed to decide on whether the
securities of Innovest should be de-listed from the Official
List of Bursa Securities.

CONTACT:

Innovest Berhad
2 Lorong Dungun Kiri Damansara Heights
Kuala Lumpur, Kuala Lumpur 50490
MALAYSIA
+60 3 2093 3373
+60 3 2094 3733

This announcement is dated 7 December 2004.


NALURI BERHAD: Appoints New Director
------------------------------------
Naluri Berhad announced that Dato' Sri Adam Sani Abdullah was
appointed to act as an Executive Director of the Company with
effect from 12 December 2004.

Date of change: 07/12/2004  

Type of change: Appointment

Designation: Director

Directorate: Executive

Name: Dato' Sri Adam Sani Abdullah (formerly Maung Ng We@Lim
Yong Tong)

Age: 48

Nationality: Malaysian

Qualifications: Mid Cornwall College of Further Education,
United Kingdom

Working experience and occupation: 1979-1980

Worked with the Bank of China in London, United Kingdom.

1980-1986
Managed his family's Malaysian business in stock-broking,
leasing, manufacturing and commodity trading.

1987-1999
Invested in residential properties and hotels in London, New
York, Hong Kong and Singapore and was involved in the stock-
broking and other business.

2000-present

Chairman and Non-Executive Director of Atlan Holdings Bhd.
Directorship of public companies (if any): Atlan Holdings Bhd
Family relationship with any director and/or major shareholder
of the listed issuer: Nil

Details of any interest in the securities of the listed issuer
or its subsidiaries: He is indirectly interested in 220,965,222
ordinary shares of RM1.00 each in Naluri Bhd representing 32% of
equity interest in Naluri Bhd by Atlan Properties Sdn Bhd by
virtue of his deemed substantial shareholding in Atlan Holdings
Bhd. Atlan Holdings Bhd in turn holds 70% equity interest in
Atlan Properties Sdn Bhd.


CONTACT:

Naluri Berhad
161B Jalan Ampang
Kuala Lumpur, 50450
Malaysia
Telephone: +60 3 2162 0878
Fax: +60 3 2162 0676


PARK MAY: Selling Properties to Kumpulan Kenderaan
--------------------------------------------------
Park May Berhad has sold two plots of land and buildings to MHSB
Development Sdn Berhad for RM14.54 million, The Star reports.

The Company sold a four-story commercial building and other
smaller structures on a 10,626-sq-m leasehold site in Kuala
Lumpur. It also sold a 22,182-sq-m industrial freehold land with
some temporary structures in Klang for RM4.54 million. Park May
previously occupied the Kuala Lumpur building as its head
office.

The current net book value of the Kuala Lumpur and Klang
properties were RM9.8 million and RM2 million respectively.  

The sales, expected to complete in the first quarter of next
year, will enable the Company to raise cash to reduce
borrowings, resulting in annual interest savings of about
RM720,000 based on an average interest rate of 6 percent a year.

MHSB is a unit of Kumpulan Kenderaan Malaysia Berhad.

CONTACT:

Park May Berhad
Lot 18115 Batu 5
Jalan Kelang Lama, Kuala Lumpur 58100
Malaysia
Phone: +60 3 7982 7060
Fax: +60 3 7625 4987


PWE INDUSTRIES: Details Corporate Restructuring Proposal
--------------------------------------------------------
PWE Industries Berhad refers to its previous announcements dated
16 July 2003, 10 October 2003, 20 January 2004, 16 February
2004, 28 June 2004, 23 July 2004, 4 August 2004 and 23 September
2004 in relation to the Proposed Corporate Restructuring of PWE.

The Company announced that the Securities Commission (SC) has,
vide its letter dated 1 December 2004 (which was received on 3
December 2004), stated that it has considered the appeal against
the SC's earlier decision not to approve the Proposed Corporate
Restructuring of PWE and has arrived at the following decisions:

(a) The appeal which was submitted by PM Securities, on behalf
of the Company on 23 July 2004 has been approved based on the
justifications given, amongst others, the latest developments in
the business of Bintang Bulk Mover Sdn Bhd (BBMSB) Group, which
is to be listed via Bintang Mover Berhad (BMB). The approval of
the SC under Section 32 (5) of the Securities Commission Act,
1993 is subject to the terms and conditions as set out in the
ensuing sections;

(b) The application by PM Securities, on behalf of the Company
for an exemption from complying with Paragraph 12.09 of the SC's
Policies and Guidelines on Issue/Offer of Securities has also
been approved. The aforesaid exemption would facilitate the
transfer of the shares in BMB which are under moratorium to the
stakeholders in relation to the proposed provision of profit
guarantee in respect of the profit after tax of BBMSB Group for
the financial years between 2004 to 2006; and

(c) The application pursuant to the Foreign Investment
Committee's Guidelines on Acquisition of Interests, Mergers and
Take-overs by Local and Foreign Interests has also been
approved.

The approval by the SC for the Proposed Corporate Restructuring
is subject to the following terms and conditions:

1. Terms

(i) Proposed acquisitions by Bintang Mover Berhad (BMB) as
follows (Proposed Acquisitions):

Acquiree Company: Bintang Bulk Mover Sdn Bhd (BBMSB)

Effective Equity interest to be acquired (%): 100.00
Purchase consideration RM: 95,117,949
To be satisfied by issuance (New BMB ordinary shares):
168,235,898
To be satisfied by issuance (New BMB RCPS): 22,000,000

Acquiree Company: Agenda Wira Sdn Bhd (AWSB)

Effective Equity interest to be acquired (%): 30
Purchase consideration RM: 4,420,068
To be satisfied by issuance (New BMB ordinary shares): 8,840,136
To be satisfied by issuance (New BMB RCPS): -

Acquiree Company: Jitu Transport Sdn Bhd (JTSB)

Effective Equity interest to be acquired (%): 45.98
Purchase consideration RM: 342,099
To be satisfied by issuance (New BMB ordinary shares): 684,198
To be satisfied by issuance (New BMB RCPS): -

TOTAL:  
Purchase consideration RM: 100,000,000
To be satisfied by issuance (New BMB ordinary shares):
178,000,000
To be satisfied by issuance (New BMB RCPS): 22,000,000

1 Ordinary shares of RM0.50 each in BMB.
2 Redeemable convertible preference shares of RM0.50 each in
BMB.

(ii) Proposed special issue of 27,000,000 new BMB ordinary
shares of RM0.50 each to Ahmad Shalimin Ahmad Shafie, at par,
for a total consideration of RM13,500,000 (Proposed Special
Issue);

(iii) Proposed share exchange involving the exchange of
42,000,000 PWE ordinary shares of RM1.00 each held by the
existing shareholders of PWE with 19,849,286 BMB ordinary shares
of RM0.50 each after the Proposed Acquisitions and Proposed
Special Issue, on the basis of approximately 47 new BMB ordinary
shares for every 100 PWE ordinary shares held pursuant to a
scheme of arrangement between PWE and its shareholders under
section 176 (1) of the Companies Act 1965 (Proposed Share
Exchange);

(iv) Proposed settlement and compromise of the shortfall in the
profit guaranteed by and receivable from Equatorial Timber
Marketing Sdn Bhd (ETM) amounting to RM6,978,359 pursuant to the
profit guarantee agreement dated 26 March 1997 between ETM and
PWE via the issuance of 34,712,688 warrants in BMB to the
shareholders of BMB after the Proposed Share Exchange (excluding
Tan Sri Dato' Paduka Dr Ting Pek Khiing, his nominees, the
subscriber shareholders of BMB and the vendors of the BBMSB
Group) on the basis of 4 warrants for every 1 BMB share held
(Proposed Settlement). Yap Hock Sing and Yap Hock Tian, 2 of the
promoters of BBMSB, will offer, for a period of 10 market days,
to purchase the BMB warrants issued to the minority shareholders
of PWE at a price of 20.1 sen per warrant (Proposed Warrants
Offer);

(v) Proposed private placement of up to 32,000,000 BMB ordinary
shares to persons prescribed under Schedule 2 of the Securities
Commission Act 1993 by Yap Hock Sing and Yap Hock Tian (Proposed
Placement), after the Proposed Acquisitions, Proposed Special
Issue and Proposed Share Exchange, at a price to be determined
later to meet the public shareholding spread requirement as
stipulated in the listing requirements of Bursa Malaysia
Securities Berhad (Bursa Malaysia);

(vi) Proposed transfer of the listing status of PWE on the
Second Board of Bursa Malaysia to BMB via the de-listing of PWE
and listing of BMB in its place; and

(vii) Proposed listing of and quotation for the new BMB ordinary
shares that would be issued pursuant to the Proposed
Acquisitions, Proposed Special Issue and Proposed Share
Exchange, the warrants that would be issued pursuant to the
Proposed Settlement, and the new ordinary shares that would be
issued following the exercise of the warrants and conversion of
the RCPS to be issued pursuant to the Proposed Settlement and
Proposed Acquisitions, respectively, on the Second Board of
Bursa Malaysia.

2. Conditions

(i) PWE/BMB is required to appoint an independent audit firm
(with the requisite experience in undertaking investigative
audits), which is not the existing or past auditor of PWE,
within 2 months of the date of the SC's approval for the purpose
of undertaking an investigative audit into PWE's historical
losses. The directors and management of PWE are to provide full
assistance for the completion of the investigative audit and
PWE/BMB is required to take the necessary/relevant action to
recover the losses suffered by PWE. Based on the findings of the
investigative audit, which have to be announced to Bursa
Malaysia, PWE/BMB is required to make a report to the relevant
authorities should there have been any transgression of any
relevant laws, regulations, guidelines or the Memorandum &
Articles of PWE by PWE's Board of Directors and/or any other
party that resulted in the said losses. The investigative audit
has to be completed within 6 months of the date of appointment
of the independent audit firm. The independent audit firm
appointed is required to consult the SC on the scope of the work
to be undertaken prior to commencing the investigative audit.
Four copies of the investigative audit report are to be
forwarded to the SC;

(ii) The following matters are to be fully disclosed in the
Explanatory Statement/Circular to Shareholders of PWE in respect
of the proposed restructuring scheme:

(a) The reasons why, historically, the BBMSB Group's tax
returns, settlement of taxes and Employees Provident Fund
contributions were not made on a timely basis, and comments by
the directors of BBMSB/BMB as to how they propose to improve the
Group's corporate governance;

(b) The terms of the Business Collaboration Agreements (BCA)
entered into for the use of commercial vehicle licences, the
accounting treatment in relation to the commercial vehicles
operated under the BCA, and the legal opinion on the legality of
the arrangement;

(c) The BBMSB Group's latest available creditors position and
comments by the directors of BBMSB on the payments of trade
creditors; and

(d) The BBMSB Group's latest available debtors position and
comments by the directors of BBMSB on the payments by trade
debtors;
(iii) In relation to Lot No. 1241, Mukim of Rawang, District of
Gombak -

(a) BMB is to provide an undertaking to use its best endeavour
to obtain approvals for the land use conversion and the building
plans together with the certificate of fitness for occupation
within 12 months of SC's approval letter;

(b) BMB is to make quarterly announcements to Bursa Malaysia on
the status of the application for the above approvals; and

(c) BMB is to update the SC on the status of the application
when such announcements are made to Bursa Malaysia;

(iv) BMB is to ensure that the rental terms for Lot 444, Grant
No 5964, Town of Kuala Lumpur are in line with commercial rates
and this fact is to be confirmed by an independent firm of
qualified valuers;

(v) The promoters/directors/shareholders of the acquiree
companies are required to furnish the SC with written
irrevocable undertakings that they will not involve themselves
in any competing or similar business to that of the BMB Group.
In the case of the companies which are party to the BCA, Yap
Hock Sing and Yap Hock Tian are required to dispose of their
interests once BBMSB has secured licences in its own right to
operate the 140 affected vehicles;

(vi) All non-trade debts owing to the BBMSB Group by its
directors/substantial shareholders and companies controlled by
the directors and shareholders must be settled prior to the
implementation of the proposed restructuring scheme. All trade
debts owing to the BBMSB Group by companies controlled by the
directors and substantial shareholders which exceed the normal
credit period must be settled prior to the implementation of the
proposed restructuring scheme;

(vii) All transactions between the BMB Group and related parties
are required to be on an "arm's length" basis;

(viii) Yap Hock Sing and Yap Hock Tian are required to provide
written confirmation that they have adequate financial resources
to undertake the Proposed Warrants Offer. This is to be
independently verified by PM Securities;
(ix) A moratorium is to be imposed on the disposal of 50% of
each class of consideration securities to be issued to the
vendors of the acquiree companies, whereby the vendors will not
be allowed to sell, transfer or assign his holdings of
securities for 1 year from the date the securities are listed on
Bursa Malaysia. PM Securities is to inform the SC of the vendors
who will be subject to the moratorium condition and their
affected shareholdings;

(x) Yap Hock Sing and Yap Hock Tian are, in their personal
capacity, to guarantee that the cumulative profit after tax and
minority interest (PAT & MI) of the BBMSB Group for the
financial years (FYs) ended/ending 29 February 2004 and 28
February 2005 will not be less than RM22,000,000, and the
consolidated PAT & MI of the BBMSB Group for the FY ending 28
February 2006 will not be less than RM11 million, as proposed;

(xi) The allocation of shares to Bumiputera parties by way of
the Proposed Special Issue and Proposed Placement is to be
approved by the Ministry of International Trade and Industry to
comply with National Development Policy (NDP) requirements for
the listing of BMB; and

(xii) PMSec/BMB should inform the SC of the status of compliance
with the NDP requirements upon completion of the listing of BMB.

3. Effect of the Proposal on the Equity Structure of PWE/BMB

The equity structure relating to Bumiputera, non-Bumiputera and
foreign shareholdings would change arising from the
implementation of the proposed restructuring scheme, as follows:

Shareholders: Bumiputra
Before proposals %: 10.02%
After proposals %: 31.47%

Shareholders: Non-Bumiputra
Before proposals %: 88.98%
After proposals %: 68.44%

Shareholders: Foreigners
Before proposals %: 1.00%
After proposals %: 0.09%

TOTAL:
Before proposals %: 100%
After proposals %: 100%

1 After the proposed placement and before the
conversion/exercise of the RCPS and warrants.

c.c.: Securities Commission
Attn: Datuk Kris Azman Abdullah

CONTACT:

PWE Industries Berhad
Level 16, Wisma Ting Pek Khiing
No. 1 Jalan Padungan
93100 Kuching, Sarawak
Phone: 082-236908
Fax: 082-236922

This announcement is dated 6 December 2004.


SRI HARTAMAS: Schedules AGM on December 29
------------------------------------------
Notice is hereby given that the Thirty-Fourth Annual General
Meeting (AGM) of Sri Hartamas Berhad will be held at Damai Utama
Ballroom, Kelab Century Paradise, Jalan Melawati 3, Taman
Melawati, 53100 Kuala Lumpur on Wednesday, 29 December 2004 at
10 a.m. for the following purposes:

AGENDA

(1) To receive and adopt the Audited Accounts for the financial
year ended 30 June 2004 together with the Reports of the
Directors and Auditors thereon.
(Resolution 1)

(2) To re-elect Tan Sri Dato' (Dr) Elyas Bin Omar who retires
pursuant to Article 101 of the Company's Articles of
Association.
(Resolution 2)

(3) To re-appoint Messrs. Ernst & Young as Auditors of the
Company and to authorie the Special Administrators to fix their
remuneration. (Resolution 3)

(4) To transact any other ordinary business of which due notice
shall have been given.  

By Order of the Special Administrators
Ooi Woon Chee
Special Administrator
Kuala Lumpur
7 December 2004

NOTES

1. A member entitled to attend and vote is entitled to appoint a
proxy to attend and vote in his stead. A proxy need not be a
member of the Company but in accordance with Section 149 of the
Companies Act, 1965, a member shall not be entitled to appoint a
person who is not a member of the Company as his proxy unless
that person is an advocate, an approved Company auditor or a
person approved by the Companies Commission of Malaysia in a
particular case.

2. If the appointer is a corporation the proxy should be
executed under its Common Seal or under the hand of a person
duly authorized.

3. The instrument appointing a proxy must be deposited at the
Registered Office at Suite 33.01, Level 33, Bangunan AmFinance,
8 Jalan Yap Kwan Seng, 50450 Kuala Lumpur not less than 48 hours
before the time appointed for holding the meeting, or any
adjournment thereof.

CONTACT:

Sri Hartamas Berhad
8 Jalan Yap Kwan Seng
Kuala Lumpur, Kuala Lumpur 50450
Malaysia
Phone: +60 3 2167 0600
Fax: +60 3 2162 0212


TRADEWINDS CORPORATION: Issues Expiry of Warrants Notice
--------------------------------------------------------
Tradewinds Corporation Berhad issued a notice to warrant holders
1995/2005 in relation to the expiry and final exercise of the
40,778,965 warrants 1995/2005.

Pursuant to the conditions stipulated in the Deed Poll dated 7
January 1995, Supplemental Deed Poll dated 1 April 1995,
Supplemental Deed Poll No. 2 dated 19 August 1997 and
Supplemental Deed Poll No. 3 dated 13 September 1999 governing
the terms and conditions of the Warrants 1995/2005, the
subscription rights of the Warrants 1995/2005 will expire at
5.00 p.m. on Monday, 10 January 2005 (Expiry Date).

The total number of Warrants 1995/2005 issued is 186,406,242 and
total Warrants 1995/2005 outstanding is 40,778,965.

Warrant 1995/2005 Holders should note that Warrants 1995/2005
not exercised by 5.00 p.m. on the Expiry Date will lapse and
cease thereafter to be valid for any purpose.

Accordingly, the Warrants 1995/2005 will be removed from the
Official List of Bursa Malaysia Securities Berhad (Bursa
Securities) with effect from 9.00 a.m. on Tuesday, 11 January
2005.

Warrant 1995/2005 Holders are therefore advised to carefully
note the procedures set out below:-

1. Suspension of Trading and Last Day for Trading

To facilitate an orderly exercise of the subscription rights of
the Warrants 1995/2005, trading of the Warrants 1995/2005 on the
Bursa Securities will be suspended with effect from 9.00 a.m. on
Friday, 24 December 2004 up to the Expiry Date.  Hence, the last
day for trading of the Warrants 1995/2005 shall be Thursday,  23
December 2004.  

2. Exercise Price

The Exercise Price of the Warrants 1995/2005 is RM2.10 pursuant
to Deed Poll dated 7 January 1995 for each new ordinary share of
RM1.00 each in Tradewinds Corporation.  Accordingly, if you
subscribe for 1,000 new ordinary shares, the Exercise Price
shall be RM2,100.00.

The Exercise Price is defined as Ringgit Malaysia Two and Ten
Sen (RM2.10) only payable in respect of each new ordinary share
of RM1.00 each to which a Warrant holder will be entitled to
subscribe upon exercise of the subscription rights represented
thereby.

3. Payment of Exercise Price

The Exercise Price for the new ordinary shares of RM1.00 each in
Tradewinds Corporation is to be made payable in Ringgit Malaysia
by banker's draft or cashier's order drawn on a bank operating
in Malaysia and to be made out in favor of "Tradewinds
Corporation Berhad's 1995/2005 Warrant Exercise Account" crossed
"A/C Payee Only" and endorsed on the reverse side with the name
and address of the holders of the Warrants 1995/2005.

4. Exercise of Subscription Rights

4.1 If you are a holder of deposited Warrants 1995/2005 and wish
to exercise your subscription rights, you should:

4.1.1 complete and sign the Subscription Form.

The Subscription Form can be obtained from the Company's
Registrar, Symphony Share Registrars Sdn Bhd, Level 26 Menara
Multi Purpose, Capital Square, No. 8 Jalan Munshi Abdullah,
50100 Kuala Lumpur.

4.1.2 deliver to the Company's Registrar, the following
documents not later than 5.00 p.m. on Monday, 10 January 2005:

a. the Subscription Form duly executed by you;

b. remittance for the full Exercise Price;

c. photocopy of Identity Card/Passport/Certificate of
Incorporation (whichever is applicable); and

d. the latest copy of the statement relating to the relevant
Securities Accounts from the Bursa Malaysia Depository Sdn Bhd
(Bursa Depository).

4.2 Pursuant to the Listing Requirements of the Bursa
Securities, all new issues of securities by public listed
companies must be made by way of crediting the securities into
the Central Depository System (CDS) Accounts of the securities
holders with Bursa Depository.  Therefore, all new ordinary
shares of RM1.00 each in Tradewinds Corporation to be issued
pursuant to the exercise of the Warrants 1995/2005 will be
credited into the respective Warrant 1995/2005 Holders' CDS
Accounts.  The Company shall within Ten (10) market days of the
date of receipt of the Subscription Forms together with the
requisite payments or such other period as may be prescribed by
the Bursa Securities, undertake the following:-

a. allot and/or issue the new ordinary shares arising from the
exercise of the Warrants 1995/2005;

b. dispatch a notice of allotment to holders of the Warrants
1995/2005; and

c. make an application for the quotation of such new ordinary
shares.

5. FURTHER NOTICE IS HEREBY GIVEN THAT in relation to the
deposited Warrants 1995/2005:

5.1 Bursa Depository will not be accepting any request for the
ordinary transfer for the period commencing 4 p.m. on Monday, 3
January 2005 to Monday, 10 January 2005.

5.2 A depositor shall qualify for entitlement to subscribe for
new ordinary shares of RM1.00 each in Tradewinds Corporation in
respect of the following:-

a. Warrants 1995/2005 transferred into the depositor's CDS
Account with Bursa Depository before 4.00 p.m. on 3 January
2005; and

b. Warrants 1995/2005 bought on the Bursa Securities on or
before 23 December 2004 (that is, the last day of trading of the
Warrants 1995/2005).  

5.3 All deposited Warrants 1995/2005 in a depositor's CDS
Account with Bursa Depository as at 10 January 2005 will be
debited from the respective depositor's CDS Account on 11
January 2005.

6. Existing Warrants not deposited with Bursa Depository and
have been transferred to Minister Of Finance (MOF)

Further to Section 29 of the Securities Industries (Central
Depositories) (Amendment No. 2) Act, 1998, all persons who hold
securities that are listed on Bursa Securities are required to
have deposited their securities with Bursa Depository by 1
December 1998. If you are a Warrant Holder who have failed to
deposit your Warrants by the aforementioned date, your Warrants
would have been transferred to the MOF without reference to you.
The last date for appeals to reclaim the Warrants transferred to
the MOF had expired on 31 May 2000.

Pursuant to Section 25 (5) of the Securities Industry (Central
Depositories) (Amendment) Act 1998, the MOF has the authority to
sell or dispose any such unclaimed securities and any proceeds
from the said sale will be dealt with in accordance with the
Unclaimed Moneys Act, 1965.

Warrant Holders, who have failed to make an appeal by 31 May
2000, may submit their claims to the Registrar of Unclaimed
Moneys to recover the proceeds for the sale of the unclaimed
Warrants, after the sale has been carried out by the MOF.
However, a written confirmation from the Jabatan Akauntan Negara
Malaysia is required before any claims for refund is made.

Warrant Holders who have made an appeal on or before 31 May 2000
but have not got their Warrants transferred to their CDS account
and Warrant Holders who have not appealed on or before 31 May
2000 may write to the Jabatan Akauntan Negara Malaysia at the
following address for enquiries:

Jabatan Akauntan Negara Malaysia
Seksyen Pengurusan Sekuriti
Tingkat 42, Menara Maybank
No. 100, Jalan Tun Perak
50050 Kuala Lumpur
Phone: 03-2034 1850
Fax: 03-2026 7430

7. Contact Details for Enquiries

All enquiries concerning the above notice should be addressed to
the Registrar at:
   
Symphony Share Registrars Sdn Bhd
Level 26, Menara Multi Purpose
Capital Square
No. 8 Jalan Munshi Abdullah
50100 Kuala Lumpur
Tel: 03-27212222
Fax: 03-27212530/1

DIRECTORS' RESPONSIBILITY STATEMENT

This notice has been seen and approved by the Directors and that
they collectively and individually accept full responsibility
for the accuracy of the information contained in the Notice to
Warrant holders 1995/2005 and confirm that, after having made
all reasonable enquiries and to the best of their knowledge and
belief, there are no other facts, the omission of which, would
make any statement therein misleading.

By Order of the Board
CHAN CHOY LIN
(MIA 3930)
Company Secretary
Dated this 8 December 2004
Kuala Lumpur

CONTACT:

Tradewinds Corporation Berhad      
21st Floor  Wisma Zelan
No. 1 Jalan Tasik Permaisuri
2 Bandar Tun Razak
Cheras, 56000 Kuala Lumpur


TRU-TECH HOLDINGS: Posts Amended Restraining Order Notice
---------------------------------------------------------
Tru-Tech Holdings Berhad refer to its announcement dated 6
December 2004 in relation to the restraining order notice and
wishes to inform that the first paragraph of the said
announcement should read as follows:

"Further to the announcement dated 24 November 2004, Avenue
Securities Sdn Bhd, on behalf of the Board of Directors of Tru-
Tech, announced that Tru-Tech and its subsidiaries, namely Tru-
Tech Electronics (M) Sdn Bhd and Tru-Tech Technology Sdn Bhd
were granted an extension of restraining and stay order for a
period of 120 days effective from 25 November 2004 up to 24
March 2005 by the Johor Bahru High Court (Court) on 2 December
2004."

CONTACT:

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

This announcement is dated 7 December 2004.


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


MAYNILAD WATER: Court Extends Rehab Deadline
--------------------------------------------
The Quezon City Regional Trial Court has approved a petition to
extend the deadline for the submission of a new rehabilitation
plan for Maynilad Water Services, Inc., the Business World
reports.

The Court-appointed rehabilitation receiver, Rosario Bernaldo,
said they were given until December 15 to file the revised plan.

Based on Maynilad's revised rehabilitation plan, the creditor
banks will be paid in two tranches. Those who extended a
syndicated loan of US$43 million will be reimbursed based on
cash flow over seven years with a one-year grace period, while
pure bridge lenders that extended a US$3 million loan will be
paid only within one year starting 2004.

Maynilad is a unit of Benpres Holdings Corp. (BPC.PH).

CONTACT:

Maynilad Water Services Inc.
Building G/F MWSI Building Street Katipunan Road
Area MWSS Compound, Balara
Town Quezon City
Philippines


NATIONAL POWER: Watchdog Head Says Losses Mounting
--------------------------------------------------
National Power Corporation (Napocor) has possibly incurred about
Php8 billion in losses since October after the Energy Regulatory
Commission allowed it only a partial rate increase, The
Philippine Daily Inquirer reports, citing Consumer and Oil Price
Watch Chairman Raul Concepcion.

Mr. Conception said the ERC's approval of a rate increase of
Php0.98 per kilowatt-hour did little to alleviate its cash
problems.
  
The state-utility had asked for a rate increase of Php1.87 per
kilowatt-hour to help resolve its financial difficulties. The
ERC had scheduled a final public hearing on the full rate
increase for December 16.

Mr. Concepcion added that consumers would have a little less to
worry about in terms of Napocor rates because the government had
absorbed Php200 billion of Napocor's debts, which means the debt
principal and interest would be taken off Napocor's books and
therefore no longer considered in succeeding rate hike
petitions.

CONTACT:

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


PHILIPPINE LONG: Issues Additional Listing Of Shares
----------------------------------------------------
The Philippine Stock Exchange approved on June 14, 2000, the
application submitted by Philippine Long Distance Telephone
Company to list additional 1,289,745 common shares, with a par
value of P5.00 per share, to cover the Executive Stock Option
Plan (ESOP) of the Company, at an exercise price of P814.00 per
share.

In this connection, a total of 863 common shares have been
availed of and fully paid by the optionee under the Company's
ESOP.

In view thereof, the listing of the 863 common shares is set for
Wednesday, December 8, 2004. This brings the number of common
shares listed under the ESOP to a total of 320,533 common
shares.

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

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


* Fitch Revises Philippines' Outlook To Negative
------------------------------------------------
Fitch Ratings has affirmed the Republic of the Philippines'
long-term foreign currency and long-term local currency ratings
of 'BB' and 'BB+' respectively, but revised the Outlook on both
ratings to negative from stable.

The Short-term foreign currency rating is affirmed at 'B'. The
Outlook revision reflects increased concerns about prospects for
fiscal policy adjustment. These come against a backdrop of
sharply diminishing fiscal flexibility that leaves the public
finances vulnerable to shocks, including from domestic interest
rate increases, exchange rate pressures or contingent
liabilities emanating from the wider public sector or from
banking system weaknesses.

"Sizeable front loaded tax policy adjustments are needed to set
public debt ratios on a firmly downward trend over the medium
term," says Brian Coulton, Senior Director of Fitch's Sovereigns
Group in Asia. Mr. Coulton adds it will be crucial to see
sharply accelerated progress in implementation over the next
three to six months.

Concerns about the health of the public finances have been
undermining the Philippines' creditworthiness. While the
national government deficit has improved this year, the broader
non-financial public sector deficit is expected to remain at an
historically high 6.3% of GDP, reflecting financial problems at
the National Power Corporation (NPC). National government debt
increased to 78% at end-2003 from 66% of GDP at end-2001 and is
expected to rise further to 82% of GDP this year following the
transfer of debts from NPC. Public debt as a share of GDP is
high relative to 'BB' norms and extremely high as a share of
revenue at 570%. The intensifying burden of servicing this debt
is reflected in the ratio of interest to total expenditure which
is set to reach 32% in 2005, placing strains on expenditure
management and exceeded in only a few low rated sovereigns,
including Lebanon and Turkey.

The policy response witnessed to date has entailed increased
electricity tariffs, a pre-announced hike in import duties on
fuel, efforts to improve tax collection and a squeeze in non-
interest expenditure to a historically low level of 13% of GDP
in 2004. However with public infrastructure spending having been
cut to the bone and notable improvements in tax administration
having served only to stabilise the revenue to GDP ratio, Fitch
believes the key to restoring fiscal health lies with tax policy
measures. Unfortunately, progress in implementing the planned
set of eight tax measures has been very slow, with Congress
likely to have passed only the sin tax measure and possibly one
or two other smaller revenue raising items by the end of the
year. The petroleum excise tax, one of the larger measures,
appears to be meeting strong political resistance, though Fitch
understands that the government is now seeking to implement an
across the board two percent increase in VAT early in 2005.

A number of factors continue to buttress the Philippines'
creditworthiness in the near term including strong macroeconomic
performance, current account surpluses supported by hefty
remittances from offshore Filipino workers and an external
balance sheet which continues to sit comfortably with 'BB' rated
peers. Net external debt as a proportion of current external
receipts is expected to decline to 72% at end 2004, while the
international liquidity ratio is projected at 147% in 2005
despite recent mild downward pressure on official foreign
currency reserves. The maturity structure of the government's
external debt is also helping to limit external financing
pressures, reflecting the fact that over half is owed to
official creditors. The government's capacity to switch to the
domestic market for its financing requirements also supports the
rating.

While these considerations suggest there is some breathing space
for the authorities, Fitch emphasizes that a muddle-through
approach entailing a half-hearted tax policy effort would not be
sufficient to forestall a downgrade. "Unless the government debt
burden falls significantly over the medium term, public finances
will remain highly vulnerable to shocks. Increased concerns over
the health of the banking sector, where balance sheets are weak
and underlying profitability is poor, amplify these worries,"
says Mr. Coulton. He adds that with half of public debt
external, any significant depreciation in the real value of the
peso would do considerable damage to the government's balance
sheet, placing a high premium on the maintenance of monetary
stability.

CONTACT: Brian Coulton, Hong Kong +852 2263 9797; Ai Ling Ngiam
+ 852 2263 9913.

Media Relations: Ching-Yuen Lock, Singapore, Tel: +65 6238 7301.


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


CHINA AVIATION(S): Four Executives Hand In Passports
----------------------------------------------------
Four executives of China Aviation Oil Singapore Corp. have
surrendered their passports to the Singapore police as the
country's worst financial fiasco continues, according to Dow
Jones Newswires.

The embattled Company refused to identify the executives, but
oil-pricing service Platts Global Alert reported disclosed the
executives include Gerard Rigby, deputy head of trading for jet
fuel, and Abdallah Kharma, deputy head of international trading.

The Commercial Affairs Department is looking into what may be
Singapore's biggest oil financial debacle, the worst in nearly a
decade. China Aviation reported SG$550 million in losses in some
bad calls over oil future contracts.

Meanwhile, suspended Chief Executive Chen Jui Lin is expected to
return to Singapore to help in the investigations. He previously
went back to China due to family matters. Mr. Chen returned to
China after asking for protection from the Singapore High Court
against its creditors, which include Goldman Sachs Group Inc.
(GS) and Mitsui & Co. (MITSY).

China Aviation may possibly face fines for not disclosing its
losses until last week. Aside from this, a probe is also being
made in to its controversial share sale in October when its
parent Company, China Aviation Oil Holdings Corp., sold 15% in
the Singapore firm in order to cover growing trading losses at
the unit.

Mr. Chen, who filed an affidavit at the High Court of Singapore
before leaving, alleged that CAOs parent knew of the losses 10
days before the sale to investors, which included Temasek
Holdings Pte. Ltd.

A proper due diligence was conducted by Deutsche Bank AG, before
it sold the share of CAO at a 14% discounted rate. The diligence
included the questioning of the firms' financial situation and
an assessment on its current business or financial standing.


CHINA AVIATION(S): Faces Lawsuit by Indonesian Investors
--------------------------------------------------------
Sataya Capital Limited, a consortium of Indonesian investors,
has filed a Court order against stricken China Aviation Oil
(CAO) Singapore Corp. Lt. and its Beijing-based parent, Reuters
relates.

The consortium lodged the writ of summons Tuesday after CAO
announced it was seeking Court protection on Nov. 30 following
massive losses of US$550 million in speculative oil trading.

In August, CAO said it would buy a 20.6 percent stake in
Singapore Petroleum Co. (SPC) from Satya Capital Ltd. for S$227
million ($138.9 million) in cash plus warrants, which would have
allowed Satya to purchase shares in CAO. The deal was blocked by
the Beijing-based parent on Nov. 24.


PANPAC MEDIA: Notes Change in Shareholder's Interest
----------------------------------------------------
Panpac Media Group Limited released a notice on December 07,
2004, at the Singapore Stock Exchange pertaining to the change
in the Percentage Level of the Interest of Legg Mason Asset
Management (Asia) Pte Ltd.

PART I

1) Date of notice to issuer: December 07, 2004   

2) Name of Substantial Shareholder: Legg Mason Asset Management
(Asia) Pte Ltd  

3) Please tick one or more appropriate box(es): *
Notice of a Change in the Percentage Level of a Substantial
Shareholder's Interest or Cessation of Interest. (Please
complete Part III and IV)

Part II  

1) Date of change of Interest

2) Name of Registered Holder   

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

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

No. of [Select Option] held before the change   
As a percentage of issued share capital %  

No. of N.A. which are subject of this notice   
As a percentage of issued share capital %  

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


No. of N.A. held after the change   
As a percentage of issued share capital %  

Part III  

1) Date of change of Deemed Interest: December 06, 2004   

2) The change in the percentage level from 5.16 % To 4.47 %  

3) Circumstance(s) giving rise to the interest or change in
interest Sales in Open Market at Own Discretion   
- Please specify details the change in percentage level is the
result of a sale of 464,000 shares and 3,336,000 shares on
03/12/2004 and 06/12/2004 respectively.    
  
4) A statement of whether the change in the percentage level is
the result of a transaction or a series of transactions: The
change in the percentage level is the result of a series of
transactions.    

Part IV  

1) Holdings of Substantial Shareholder, including direct and
deemed interest:  

                                          Direct       Deemed
No. of shares held before the change           0   28,293,000   
As a percentage of issued share capital        0%       5.16%  
No. of shares held after the change            0   24,493,000   
As a percentage of issued share capital        0%       4.47%  


Footnotes Percentage shareholding is calculated based on the
following: 548,276,821 shares in issue as at 6 December 2004.    

Submitted by:
Tan Min-Li   
Company Secretary   


PANPAC MEDIA: Reveals Change in Shareholding
--------------------------------------------
Panpac Media Group Limited released a notice on December 7,
2004, at the Singapore Stock Exchange pertaining to the change
in the Percentage Level of the Interest of Legg Mason Asset
Management (Asia) Pte Ltd.

Part I

1) Date of notice to issuer: December 3, 2004   

2) Name of Substantial Shareholder: Legg Mason Asset Management
(Asia) Pte Ltd  

3). Please tick one or more appropriate box(es): *
Notice of a Change in the Percentage Level of a Substantial
Shareholder's Interest or Cessation of Interest. [Please
complete Part III and IV]

Part II  

1) Date of change of Interest   

2) Name of Registered Holder   

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

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

No. of [Select Option] held before the change   
As a percentage of issued share capital %  

No. of N.A. which are subject of this notice   
As a percentage of issued share capital %  


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

No. of N.A. held after the change   
As a percentage of issued share capital %  

Part III  

1) Date of change of Deemed Interest 02-12-2004   

2) The change in the percentage level From 5.52 % To 5.16 %  

3) Circumstance(s) giving rise to the interest or change in
interest Sales in Open Market at Own Discretion   
- Please specify details the change in percentage level is the
result of a sale of 1,600,000 shares on 2 December 2004.    
  
4) A statement of whether the change in the percentage level is
the result of a transaction or a series of transactions: The
change in the percentage is the result of a transaction.    
  
Part IV  

1) Holdings of Substantial Shareholder, including direct and
deemed interest:  
                                            Direct   Deemed
No. of shares held before the change             0   29,893,000   
As a percentage of issued share capital          0%  5.52%  
No. of shares held after the change              0   28,293,000   
As a percentage of issued share capital          0%  5.16%  

Footnotes percentage shareholding is based on the following:
541,154,314 shares in issue as at 1 December 2004
548,276,821 shares in issue as at 2 December 2004
   
Submitted by:
Tan Min-Li   
Company Secretary   


REGENCY LEISURE: Court Issues Winding Up Order
----------------------------------------------
In the matter of Regency Leisure Development Private
Limited, a Winding Up Order was made on the 19th day of November
2004.

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

Ling Das & Partners
Solicitors for the Petitioner

This Singapore Government Gazette notice is dated December 3,
2004.


SIN YONG: Releases Notice of Winding Up Order
---------------------------------------------
In the Matter of Sin Yong Contractor Pte Ltd., a Winding Up
Order was made on the 12th day of November 2004.

Name and address of Liquidator: The Official Receiver of
URA Centre (East Wing),
45 Maxwell Road #05-11/#06-11
Singapore 069118

Messrs Rajah & Tann
Solicitors for the Petitioner

This Singapore Government Gazette notice is dated December 3,
2004.


SINGAPORE PRESS: Channel I to Close January 1
---------------------------------------------
Singapore Press Holdings Limited announced at the Singapore
Stock Exchange the closing of Channel I on 1 January 2005 with
Channel U and Channel 8 to have complementary programming.

Following the announcement by MediaCorp and Singapore Press
Holdings (SPH) to merge their mass market TV and free newspaper
operations, the commercial viability of Channel i, the English
language channel of SPH MediaWorks has been reviewed.

After careful consideration, the decision, jointly made by both
MediaCorp and SPH MediaWorks, is to close down Channel i. Both
parties have concluded that Channel i is not commercially viable
because of the fragmented and small English language TV market.
Since Channel i started more than 3 years ago, advertising
support had been weak. Turnaround in its operations is not
expected any time soon.

Channel i will cease transmission on 1 January 2005.
Following the merger, the new holding Company MediaCorp TV
Holdings Pte Ltd, comprising MediaCorp TV Pte Ltd (MCTV) and
MediaCorp Studios Pte Ltd, will operate four channels, namely
Channels 5, 8, U and TV Mobile. The merger is expected to be
legally completed by the end of this year, after which the
holding Company will be 80 per cent owned by MediaCorp and 20
per cent by SPH.

There will be minor interim changes to the programming schedule
of Channel U in the first quarter of 2005 until MCTV introduces
new complementary schedules for Channels 8 and U. These interim
changes will be announced before 1 January 2005.

The other TV channels within the MediaCorp stable, such as
Channel NewsAsia, Suria and Central, will continue to be 100 per
cent owned by MediaCorp and run separately. Their operations
will be unaffected by the merger.

Issued by MediaCorp and SPH MediaWorks Ltd

For more information, please contact:
MediaCorp
Genevieve Woo
Director, Group Communications
Tel: 6357 5656
Fax: 6251 5628
Email: genevieve@mediacorp.com.sg

SPH MediaWorks Ltd
Irene Ngoo
Assistant Vice President
Corporate Relations
Tel: 6319 1216
Fax: 6319 8150
Email: ingoo@sph.com.sg


SINGAPORE PRESS: Completes Staff Rationalization
-------------------------------------------------
Singapore Press Holdings Limited (SPH) in a disclosure to the
Singapore Stock Exchange, announced the completion of its
MediaCorp and SPH complete staff rationalization exercise.

MediaCorp and Singapore Press Holdings have completed the staff
rationalization exercise following their agreement to merge
their mass market TV and free newspaper operations.

The exercise, lasting about two months, involved the selection
of staff needed to run the merged TV and Studio operations in
which MediaCorp owns 80 per cent and SPH 20 per cent. It was
undertaken by a Manpower Synergy Committee chaired by MediaCorp
independent board member, Mr. Soo Kok Leng, and comprised heads
of the Human Resources Divisions, Mr Wee Leong How of SPH and Mr
Chua Hoe Sing of MediaCorp.

The Committee reviewed about 1,200 staff from both SPH
MediaWorks (SPHMW) and two companies in the MediaCorp group,
namely MediaCorp TV (MCTV) and MediaCorp Studios (MSD).

The rationalization affects a total of 429 staff from SPH, the
majority of whom are from SPHMW. Of these, 200 will be
transferred to MediaCorp, 97 will be absorbed by SPH and 132
will be retrenched.

Besides the rationalization of MCTV and MSD's manpower
undertaken by the Committee, MediaCorp separately reviewed its
own staffing level with a view to enhancing efficiency further.
Altogether, MediaCorp will be releasing 72 staff from across the
group. On the rationalization of the merged TV and Studio
operations, Mr. Soo Kok Leng, Chairman of the Committee, said:
"We evaluated staff from both parties on the principle of `best
person for the job', that is, people who can adapt, respond,
anticipate and deliver to meet the future needs of the merged
businesses. The individual's performance is one of the key
assessment criteria that we used. "The process was open and
transparent, with both sides taking a consultative approach at
all times. I'm happy to report that the Committee has done its
best in ensuring that the process has been fair, rigorous and
thorough."

Mr. Wee Leong How, Executive Vice President of SPH's Human
Resources Division, said: "I am satisfied that the Committee has
done its best to save the maximum number of jobs. We have
managed to secure jobs in the joint venture Company for as many
MediaWorks employees as we could. Separately, SPH has also
managed to absorb almost a quarter of the affected MediaWorks
and SPH TV News staff, who will be redeployed to other parts of
the Group."  Added Mr. Chua Hoe Sing, Executive Vice President,
Group Human Resource and Corporate Services of MediaCorp: "We
had taken some time to conduct the review to ensure that the
process was thorough, and that due consideration was given so
that the right job goes to the right person."

The National Trades Union Congress has formed a task force under
its Assistant Secretary General Mr. Seng Han Thong, which is
facilitating the consultations between union and management on
manpower rationalization issues at the two media groups.

Issued by MediaCorp and Singapore Press Holdings
For more information, please contact:

MediaCorp
Genevieve Woo
Director, Group Communications
Tel: 6357 5656
Fax: 6251 5628
Email: genevieve@mediacorp.com.sg
Singapore Press Holdings

Irene Ngoo
Assistant Vice President
Corporate Relations
Tel: 6319 1216
Fax: 6319 8150
Email: ingoo@sph.com.sg


TREND RESTAURANT: Receives Winding Up Order
-------------------------------------------
In the matter of Trend Restaurant & Management Pte Ltd., a
Winding Up Order was made on the 19th day of November 2004.

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

Messrs Loh Lin Kok
Solicitors for the Petitioner
Wan Kee Trading (suing as a firm)

This Singapore Government Gazette notice is dated December 3,
2004.


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


KRUNG THAI: Details Procedure of Rights Exercise
------------------------------------------------
Krung Thai Bank Public Company Limited informed the Stock
Exchange of Thailand (SET) about the details of the procedures
On exercise of rights to buy the Bank's ordinary shares under
the issued warrant certificates for the fourth and last time.

(1) Schedule for closing of warrant register: 15 December 2004

(2) Notification period and place for exercise of rights:       
December 16 to 29, 2004 9:30 a.m. to 3:30 p.m. at the
Shareholders Management and Coordination with Supervisory
Organizations Division, Office of the Board of Directors and
Shareholders, Krung Thai Bank Public Company Limited, Building 1
(Na Na Nua), 8th Floor, No. 35 Sukhumvit Road, Klong Toey Nua
Subdistrict, Wattana District, Bangkok 10110 Tel. 0-2208-4139,
4146-7

(3) Date for exercising rights: Thursday 30 December 2004 during
9:30 a.m. to 3:30 p.m.

(4) Exercise ratio and exercise price: One warrant certificate
enables its holder to subscribe to one ordinary share at par
value of THB10.

(5) Documents required for submission:

(5.1) Completed subscription form showing intention to subscribe
to ordinary shares

(5.2) Warrant certificates
     
(5.3) Certified true copy of identification card of warrant
holder

(5.4) Cheque, cashier's cheque or bank bill of exchange
(collectible in Bangkok Metropolis)

(6) Other conditions:

The warrant holder must exercise the rights to subscribe to at
least 100 ordinary shares and in full amount at one time.  In
case the warrant holder has the right to exercise less than or
equal to 100 ordinary shares, such holder must exercise in full
amount at one time only.

Please be informed accordingly,
Yours sincerely,
Krung Thai Bank Public Company Limited
(Mr. Somgiat Sangsurane)
Secretary to the Board of Directors

CONTACT:

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





                            *********


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

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

This material is copyrighted and any commercial use, resale or
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