TCRAP_Public/050111.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

                     A S I A   P A C I F I C

             Tuesday, January 11, 2005, Vol. 8, No. 7

                            Headlines


A U S T R A L I A

AMARNI PTY: To Wind Up as Creditors Voluntary Liquidation
BUNGE AUSTRALIA: Members Agree to Wind Up Company
CLARKE'S BUILDING: Receiving Proofs of Claims Until January 21
DEVON CONSTRUCTIONS: To Convene Final Meeting January 19
GLENPERRO PTY: Sets General Meeting January 20

IFB INVESTMENTS: Final Meeting Slated for January 14
J WALCH: To Hold Members Meeting January 20
LANGS SMITH: Final Dividend to be Declared January 25
LAZZARICH HOLDINGS: Creditors Resolve to Wind Up Company
LUMEAH OFFICE: Secured Creditors Appoint Receivers and Managers

M&H SHEETMETAL: Appoints Liquidator for Winding Up Purposes
MOKA NOMINEES: Final Meeting Set January 14
NICMAT PTY: Creditors Must Submit Proofs of Claim by Jan. 21
NORTHLAKE INVESTMENTS: Members, Creditors to Meet January 20
PERSONAL CONSULTATION: Members Resolve to Voluntarily Wind Up

PURPORT PTY: Meeting Confirms Appointment of Liquidators
QANTAS AIRWAYS: Hikes Phone Fare Booking Fee
QANTAS AIRWAYS: Facing Tougher Competition
ROSEGROVE PTY: Names Liquidator for Purpose of Winding Up
SUMICH GROUP: Creditors Given Until Jan. 16 to Prove Claims

WINTON TRADERS: Joint Final Meeting Slated for January 13
ZOOLANDER PTY: To Hold Final Meeting January 14


C H I N A  &  H O N G  K O N G

BEST TONE: Winding Up Hearing Set January 26
CENTURY ASIA: Receiving Proofs of Debt Until January 21
HONGKONG BUS: Delivers Notice to Creditors
KIEN PING: Court Issues Winding Up Notice
RIGHTIME SHIPPING: Sets Winding Up Hearing on January 26

YAU FUNG: Creditors to Submit Debt Claims by January 21
YICK SHING: Winding Up Hearing Slated for January 19
WING TAK: Schedules Members Meeting on January 13


I N D O N E S I A

INDOFOOD SUKSES: Fails in Second US$280 Mln Bond Buy Back Bid
TELEKOMUNIKASI INDONESIA: To Pay US$112 Mln Debt Installment
SEMEN GRESIK: Government to Settle Cemex Dispute Out of Court


J A P A N

ALL NIPPON: To Start Code-share Operations with Asiana
ALL NIPPON: Introduces Fuel Surcharge for International Flights
DAIEI INCORPORATED: Set to Brief Creditors Today
DAIEI INCORPORATED: Aims to Seek Waiver on Most Unsecured Debt
MATSUSHITA ELECTRIC: Mulls Sale of Unprofitable Unit

MITSUBISHI MOTORS: To Supply Cars to Peugeot, Nissan
SEIBU RAILWAY: Stock Scandal Spurs Reform Panelist Resignation


K O R E A

THRUNET COMPANY: Hanaro to Ink Takeover Contract January 20
* Debt Workout Programs Rescue 1.01Mln Credit Defaulters


M A L A Y S I A

AYER HITAM: Appoints Financial Advisors
FABER GROUP BERHAD: Granted Listing of Additional Shares
KUB MALAYSIA: SC Approves Proposal Revision
LION CORPORATION: Lists Additional Shares
LION INDUSTRIES: Notes Additional Listing of Shares

LITYAN HOLDINGS: Issues Default Status Update
MMC CORPORATION: Details Disposal of Shares
NAUTICALINK BERHAD: Names New Director
NAUTICALINK BERHAD: Unveils January 5 EGM Resolutions
PAN MALAYSIA: Unveils Shares Disposal of Subsidiary Company

POS MALAYSIA: Notes Additional Listing of Shares
REKAPACIFIC BERHAD: Releases Monthly Status Update
WOO HING: Seeks Proposal Extension


P H I L I P P I N E S

BENPRES HOLDINGS: Shareholder Furnishes SEC Form 23-B
COLLEGE ASSURANCE: To Buy Out Plans, Bring in New Investors
COLLEGE ASSURANCE: Deal With Investor Still Up for Review
NATIONAL POWER: Hopes to Save on Auction with E-bidding System
PHILIPPINE LONG: Posts Changes in Beneficial Securities

PHILIPPINE REALTY: Unveils FY04 Board Meeting Attendance
VICTORIAS MILLING: Director Furnishes SEC Form 23-A


S I N G A P O R E

AKZO NOBEL: Creditors to Submit Claims by February 7
CHINA AVIATION: Details Shareholders' U.S. Class Action
HO WAH: Enters Share Subscription Agreement
HO WAH: Details Proposed Capital Reduction
HONG LEONG: Presents Change in Director's Interest

JURONG REPTILE: Contributories Meeting Set January 20
JURONG REPTILE: Schedules Creditors Meeting January 20
PANPAC MEDIA: Rectifies Executive Director, CEO Announcement
SIFORTEL SOLUTIONS: Presents EGM Resolutions


T H A I L A N D

JASMINE INTERNATIONAL: Unveils Capital Increase Utilization
SAFARI WORLD: Unit Shuts Down Ops for 10 Days Due to Tsunami
SIAM AGRO: Posts Resolution of Board Meeting
BOND PRICING: For the Week 10 January to 14 January 2005

     -  -  -  -  -  -  -  -

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


AMARNI PTY: To Wind Up as Creditors Voluntary Liquidation
---------------------------------------------------------
Notice is hereby given that at an extraordinary general meeting
of the members of Amarni Pty Ltd A.C.N. 103 636 693 held on
November 30, 2004 it was resolved that the Company be wound up
voluntarily as a Creditors Voluntary Liquidation.

Dated this 30th day of November 2004

V.A. Smith
C.J. Munday
Joint and Several Liquidators
c/- Pitcher Partners
Chartered Accountants
10 Ord Street, West Perth WA 6005
Telephone: (08) 9322 2022
Facsimile: (08) 9322 1262


BUNGE AUSTRALIA: Members Agree to Wind Up Company
-------------------------------------------------
Notice is hereby given that at a general meeting of members of
Bunge Australia Holdings Pty Ltd (In Liquidation) A.C.N. 078 597
074 held on December 21, 2004, it was resolved that the Company
be wound up as a members' voluntary winding up.

Dated this 6th day of December 2004

Richard G. Mansell
Liquidator


CLARKE'S BUILDING: Receiving Proofs of Claims Until January 21
--------------------------------------------------------------
A final dividend is to be declared on February 25, 2005 for
Clarke's Building Contractors Pty Ltd (In Liquidation) formerly
trading as Jadepoint Holdings Pty Ltd A.C.N. 078 203 460.

Creditors whose debts or claims have not already been admitted
are required on January 21, 2005 formally to prove their debts
or claims. If they do not, they will be excluded from the
benefit of the dividend.

Dated this 3rd day of December 2004

K.S. Wallman
Liquidator
PO Box 4055, Wembley WA 6014


DEVON CONSTRUCTIONS: To Convene Final Meeting January 19
--------------------------------------------------------
Notice is given that a Final Meeting of the Members and
Creditors of Devon Constructions Australia Pty Ltd (In
Liquidation) A.C.N. 008 286 468 will be held on Wednesday,
January 19, 2005 at Freer Parker & Associates, 40 Sturt Street
Adelaide, at 10:00 a.m.

AGENDA

(1) To lay before the Meeting an account showing how the winding
up has been conducted and the property of the Company has been
disposed of.

(2) Any other business.

Dated this 6th day of December 2004

Richard George Freer
Liquidator
Freer Parker & Associates
40 Sturt Street, Adelaide SA 5000
Telephone: (08) 8211 7177
Facsimile: (08) 8212 6177


GLENPERRO PTY: Sets General Meeting January 20
----------------------------------------------
Notice is given that a general meeting of members of Glenperro
Pty Ltd (In Liquidation) will be held at the offices of Messrs
Wise Lord & Ferguson, Chartered Accountants, 160 Collins Street,
Hobart 7000 on January 20, 2005 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 disposed of, and for hearing any
explanation that may be given by the Liquidator.

Dated this 6th day of December 2004

Robert P. Whitehouse
Liquidator
Glenperro Pty Ltd (In Liquidation)
Wise Lord & Ferguson
Chartered Accountants
1st Floor, 160 Collins Street,
Hobart Tas 7000
Telephone: (03) 6223 6155


IFB INVESTMENTS: Final Meeting Slated for January 14
----------------------------------------------------
Notice is hereby given that pursuant to Section 509 of the
Corporations Act a final meeting of IFB Investments Pty Ltd (In
Voluntary Liquidation) A.C.N. 004 486 293 will be held at 248
Flinders Street, Adelaide on January 14, 2005 at 9:00 a.m. for
the purpose of laying before the meeting an account showing how
the winding up has been conducted, and how the assets have been
disposed of.

Dated this 29th day of November 2004

Russell Heywood-Smith
Liquidator
BDO
Chartered Accountants & Advisers
248 Flinders Street, Adelaide SA 5000


J WALCH: To Hold Members Meeting January 20
-------------------------------------------
Notice is given that a general meeting of members of J Walch &
Sons Proprietary Ltd (In Liquidation) will be held at the
offices of Messrs Wise Lord & Ferguson, Chartered Accountants,
160 Collins Street, Hobart 7000 on January 20, 2005 at 9:30 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 disposed of, and for hearing any
explanation that may be given by the Liquidator.

Dated this 6th day of December 2004

Robert P. Whitehouse
Liquidator
J Walch & Sons Proprietary Ltd (In Liquidation)
Wise Lord & Ferguson
Chartered Accountants
1st Floor, 160 Collins Street,
Hobart Tas 7000
Telephone: (03) 6223 6155


LANGS SMITH: Final Dividend to be Declared January 25
-----------------------------------------------------
A final dividend is to be declared on January 25, 2005 for Langs
Smith Australia Pty Ltd (In Liquidation) - Members' Voluntary
A.C.N. 054 556 777.

Creditors whose debts or claims have not already been admitted
are required today, January 11, 2005 formally to prove their
debts or claims. If they do not, they will be excluded from the
benefit of the dividend.

Dated this 7th day of December 2004

Anthony Stevens Smith
Timothy Paul Burfield
Joint and Several Liquidators
Langs Smith Australia Pty Ltd (in liquidation)
Ernst & Young
Level 21, 91 King William Street,
Adelaide SA 5000
Telephone: (08) 8233 7111


LAZZARICH HOLDINGS: Creditors Resolve to Wind Up Company
--------------------------------------------------------
Notice is hereby given that at a general meeting of Creditors of
Lazzarich Holdings Pty Ltd A.C.N. 095 721 332 held on December
3, 2004, it was resolved that the Company would be wound up
voluntarily and that for such purpose Graeme Trevor Lean, FCPA,
of G T Lean and Associates, The Fitzgerald Centre, 424
Fitzgerald Street, North Perth WA 6006 be appointed Liquidator.

Dated this 3rd day of December 2004

G.T. Lean
Liquidator


LUMEAH OFFICE: Secured Creditors Appoint Receivers and Managers
---------------------------------------------------------------
William James Harris and John Patrick Cronin were appointed
Receivers and Managers of Lumeah Office Management Pty Ltd
(Receivers And Managers Appointed) A.C.N. 007 197 597 by a
secured creditor of the Company on November 29, 2004.

John Patrick Cronin
William James Harris
Receivers and Managers
McGrathNicol+Partners
Level 32, 345 Queen Street,
Brisbane Qld 4000


M&H SHEETMETAL: Appoints Liquidator for Winding Up Purposes
-----------------------------------------------------------
Notice is hereby given that at a general meeting of members of
M&H Sheetmetal Products Pty Ltd (In Liquidation) trading as
Paul's Patios A.C.N. 052 909 994 held on December 1, 2004, it
was duly resolved that the Company be wound up voluntarily and
that Richard Cacho and Adrian Stewart Duncan of Knights
Insolvency Administration, Level 12 London House, 216 St Georges
Terrace, Perth be and are appointed Joint & Several Liquidators
for the purposes of such winding up.

Dated this 2nd day of December 2004

Richard Cacho
For and on behalf of the members of Personal
Consultation Pty Ltd


MOKA NOMINEES: Final Meeting Set January 14
-------------------------------------------
Notice is given that pursuant to Section 509(1) of the
Corporations Act, a final meeting of members and creditors of
Moka Nominees Pty Ltd (In Liquidation) A.C.N. 008 881 954 will
be held at the offices of PPB, Level 1, 5 Mill Street, Perth WA
on Friday, January 14, 2005 at 11:00 a.m.

AGENDA

(1) Present to members and creditors an account of how the
winding up has been conducted and how the property of the
Company has been disposed.

(2) Any other business, which may arise.

Dated this 14th day of December 2004
Cliff Rocke
Liquidator
c/- PPB
Chartered Accountants
Level 1, 5 Mill Street, Perth WA


NICMAT PTY: Creditors Must Submit Proofs of Claim by Jan. 21
------------------------------------------------------------
A final dividend is to be declared on February 25, 2005 for
Nicmat (Wa) Pty Ltd (In Liquidation) formerly known as Clarke's
Building Contractors Pty Ltd as Trustee for The Clarke Family
Trust A.C.N. 065 284 424.

Creditors whose debts or claims have not already been admitted
are required on or before January 21, 2005 formally to prove
their debts or claims. If they do not, they will be excluded
from the benefit of the dividend.

Dated this 3rd day of December 2004

K.S. Wallman
Liquidator
PO Box 4055, Wembley WA 6014


NORTHLAKE INVESTMENTS: Members, Creditors to Meet January 20
------------------------------------------------------------
Notice is hereby given pursuant to section 509 of the
Corporations Act that a general meeting of the members and
creditors of Northlake Investments Pty Ltd (In Liquidation)
A.C.N. 075 922 922 will be held at the offices of Taylor
Woodings, Chartered Accountants, Level 6, 30 The Esplanade,
Perth, WA 6000 on Thursday, January 20, 2005 at 10:00 a.m. for
the purpose of having an account laid before them showing the
manner in which the winding up has been conducted and the
property of the Company disposed of and of hearing any
explanation that may be given by the liquidator.

Dated this 6th day of December 2004

A.L.J. Woodings
Liquidator
Taylor Woodings
Chartered Accountants
Level 6, 30 The Esplanade,
Perth WA 6000
Telephone: (08) 9321 8533
Facsimile: (08) 9321 8544


PERSONAL CONSULTATION: Members Resolve to Voluntarily Wind Up
-------------------------------------------------------------
Notice is hereby given that at a general meeting of members of
Personal Consultation Pty Ltd (In Liquidation) A.C.N. 069 327
304 held on December 1, 2004, it was duly resolved that the
Company be wound up voluntarily and that Richard Cacho and
Adrian Stewart Duncan of Knights Insolvency Administration,
Level 12 London House, 216 St Georges Terrace, Perth be and are
appointed Joint & Several Liquidators for the purposes of such
winding up.

Dated this 2nd day of December 2004

Richard Cacho
For and on behalf of the members of Personal
Consultation Pty Ltd


PURPORT PTY: Meeting Confirms Appointment of Liquidators
--------------------------------------------------------
Take notice that at a Meeting of Members of Purport Pty Ltd (In
Liquidation) A.C.N. 073 940 799 duly convened and held at the
offices of Melsom Robson, 241 Stirling Street, Perth on Tuesday,
30th November, 2004, it was resolved that the Company be wound
up voluntarily and that P. M. Melsom, G. A. Lopez and E. R.
Verge be appointed the Joint and Several Liquidators.

At a meeting of creditors also held on November 30, 2004, the
appointment of Messrs Melsom, Lopez and Verge as Joint and
Several Liquidators was confirmed.

Dated this 30th day of November 2004

John D. Hogan
Director
Melsom Robson
Chartered Accountants
Colmel House, 241 Stirling Street,
Perth WA 6000


QANTAS AIRWAYS: Hikes Phone Fare Booking Fee
--------------------------------------------
Qantas Airways has raised by 50 percent the fee for booking a
flight over the telephone, reports The Age.

The AU$15 fee increase is understood to be part of the airline's
efforts to encourage Internet bookings, which are most cost-
effective for the airline.

Prior to Dec. 1, passengers booking flights over the telephone
paid AU$10 extra for their fare, while Internet users are not
charged of the fee.

Less than 10 percent of customers book fares over the telephone
and through Qantas retail stores.

CONTACT:

Qantas Airways
Qantas Centre, Level 9,
Building A, 203 Coward Street,
Mascot, NSW, Australia, 2020
Head Office Telephone: (02) 9691 3636
Head Office Fax: (02) 9691 3339
Web site: http://www.qantas.com


QANTAS AIRWAYS: Facing Tougher Competition
------------------------------------------
Qantas Airways is bound to face tougher competition as Singapore
Airlines is calling for the Federal Government to allow it to
compete against the Australian carrier on the lucrative
Australia-U.S. route, reports News Interactive.

The request was made while Qantas has again defended its service
standards. The Australian carrier is protected from competition
on the U.S.-Australia trade route due to restricted-sky
agreements between the Australian and Singaporean governments.

However, Singapore Airlines has expressed its interest to share
the route, which has helped beef up Qantas' earnings to AU$648.8
million in 2004.

An open-skies agreement would give Singapore Airlines the right
to fly from Australia to the U.S. as well as giving Qantas
unlimited rights to fly to and from Singapore and other Asian
cities.

Meanwhile, Qantas Chief Executive Geoff Dixon said an open-skies
arrangement would deliver an unfair advantage to Singapore
Airlines.

"Open skies with Singapore would not deliver reciprocal
opportunities for Australian carriers such as Qantas due to
restrictions in Australia's bilateral agreements with third
countries," Mr. Dixon said.


ROSEGROVE PTY: Names Liquidator for Purpose of Winding Up
---------------------------------------------------------
Notice is given that at a general meeting of members of the
above Company held on November 22, 2004, it was resolved by
special resolution that Rosegrove Pty Ltd A.C.N. 010 563 925 be
wound up in a members' voluntary winding up and that for such
purpose Allan Johnson be appointed Liquidator.

Allan Johnson
c/- Hunt & Hunt Lawyers
GPO Box 834, Brisbane Qld 4001
Telephone: (07) 3231 2957
Facsimile: (07) 3231 8957


SUMICH GROUP: Creditors Given Until Jan. 16 to Prove Claims
-----------------------------------------------------------
A final dividend is to be declared on January 17, 2005 for the
former creditors of Sumich Group Ltd A.C.N. 009 232 026 who are
now beneficiaries of the Sumich Group Limited creditors Trust
Deed executed on November 29, 2000.

Creditors whose debts or claims have not already been admitted
are required on or before January 16, 2005 to formally prove
their debts or claims. If they do not, they will be excluded
from the benefit of the dividend.

Dated this 3rd day of December 2004

Vincent Smith
Joint and Several Liquidator
Pitcher Partners
10 Ord Street, West Perth WA 6005
Telephone: 08 9322 2022
Facsimile: 08 9322 1262


WINTON TRADERS: Joint Final Meeting Slated for January 13
---------------------------------------------------------
Notice is now given that a joint final meeting of members and
creditors of Winton Traders Pty Ltd (In Liquidation) (The
Company) formerly trading as Statewide Sheds And Garages A.C.N.
068 854 679 will be held at the offices of Pitcher Partners, 10
Ord Street, West Perth in the State of Western Australia on
Thursday, January 13, 2005 at 9:00 a.m.

AGENDA

General

Discuss the conduct of the Liquidation; and
Table the accounts of the Liquidation for inspection.

Dividends

There are no funds available for distribution in the
liquidation. Accordingly, no dividend will be paid to unsecured
creditors of the Company.

Dated this 3rd day of December 2004

Chris Munday
Joint and Several Liquidator
c/- Pitcher Partners
10 Ord Street, West Perth WA 6000
Telephone: (08) 9322 2022
Facsimile: (08) 9322 1262


ZOOLANDER PTY: To Hold Final Meeting January 14
-----------------------------------------------
Notice is given that pursuant to Section 509(1) of the
Corporations Act, a final meeting of members and creditors of
Zoolander Pty Ltd (In Liquidation) (Zoolander) A.C.N. 008 828
822 will be held at the offices of PPB, Level 1, 5 Mill Street,
Perth WA 6000 on Friday, January 14, 2005 at 9:00 a.m.

AGENDA

(1) Present to members and creditors an account of how the
winding up has been conducted.

(2) Any other business, which may arise.

Dated this 14th day of December 2004

Cliff Rocke
Liquidator
c/- PPB
Level 1, 5 Mill Street, Perth WA 6000


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


BEST TONE: Winding Up Hearing Set January 26
--------------------------------------------
Notice is hereby given that a petition for the winding up of
Best Tone Investments Limited by the High Court of Hong Kong
Special Administrative Region was on December 3, 2004 presented
to the said Court by Bank of China (Hong Kong) Limited (the
successor banking corporation to Kincheng Banking Corporation
pursuant to Bank of China (Hong Kong) Limited (Merger) Ordinance
whose registered office is situated at the 14th Floor, Bank of
China Tower, 1 Garden Road, Hong Kong.

The said Petition will be heard before the Court at 9:30 a.m. on
January 26, 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.

Kao, Lee & Yip
Solicitors for the Petitioner
17th Floor, Gloucester Tower
The Landmark
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.

This notice is dated December 31, 2004.


CENTURY ASIA: Receiving Proofs of Debt Until January 21
-------------------------------------------------------
Notice is hereby given that the creditors of Century Asia
Enterprises Limited, which is in Members' Voluntary Liquidation,
are required (if they have not already done so) on or before
January 21, 2005, 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 Joint and Several
Liquidators of the companies at Messrs. Kennic L. H. Lui & Co.,
5th Floor, Ho Lee Commercial Building, 38-44 D'Aguilar Street,
Central, Hong Kong.

If so required by notice in writing from the said Liquidators,
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. In default thereof, they will be
excluded from the benefit of any distribution before such debts
are proved.

Kennic Lai Hang Lui
Leung Mun Yee Ruby
Joint and Several Liquidators

This notice is dated December 31, 2004.


HONGKONG BUS: Delivers Notice to Creditors
------------------------------------------
Notice is hereby given that the creditors of HongKong Bus
Company Limited, which is in Members' Voluntary Liquidation, are
required (if they have not already done so) on or before January
21, 2005, 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 Joint and Several Liquidators of the
companies at Messrs. Kennic L. H. Lui & Co., 5th Floor, Ho Lee
Commercial Building, 38-44 D'Aguilar Street, Central, Hong Kong.

If so required by notice in writing from the said Liquidators,
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. In default thereof, they will be
excluded from the benefit of any distribution before such debts
are proved.

Kennic Lai Hang Lui
Leung Mun Yee Ruby
Joint and Several Liquidators

This notice is dated December 31, 2004.


KIEN PING: Court Issues Winding Up Notice
-----------------------------------------
Notice is hereby given that a petition for the winding up of
Kien Ping Trading (Hong Kong) Limited by the High Court of Hong
Kong was on December 6, 2004, presented to the said Court by
Chow Siu Ping of Room A, 12/F, Block 4, Tsui Ning Garden, Tuen
Mun, New Territories.

The said petition will be heard before the Court at 9:30 a.m. on
January 26, 2005.

Any creditor or contributory of the said Company desirous to
support or oppose the making of an Order of the said petition
may appear at the time of hearing by himself or his counsel for
that purpose.

A copy of the petition will be furnished to any creditor or
contributory of the said Company requiring the same by the
undersigned on payment of the regulated charge for the same.

Betty Chan
for Director of Legal Aid
34/F, Hopewell Centre
183 Queen's Road East
Wanchai, Hong Kong

Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention to do so. The notice must
state the name and address of the person, or if a firm, the name
and address of the firm, and must be signed by the person or
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
January 25, 2005.

This The Standard notice is dated January 7, 2005.


RIGHTIME SHIPPING: Sets Winding Up Hearing on January 26
--------------------------------------------------------
Notice is hereby given that a petition for the winding up of
Rightime Shipping Limited by the High Court of Hong Kong Special
Administrative Region was on the December 3, 2004 presented to
the said Court by Bank of China (Hong Kong) Limited whose
registered office is situated at 14th Floor, Bank of China
Tower, 1 Garden Road, Hong Kong.

The said Petition will be heard before the Court at 9:30 a.m. on
January 26, 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.

Kao, Lee & Yip
Solicitors for the Petitioner
17th Floor, Gloucester Tower
The Landmark
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 January 25, 2005.


YAU FUNG: Creditors to Submit Debt Claims by January 21
-------------------------------------------------------
Notice is hereby given that the creditors of Yau Fung Tours And
Transportation Company Limited, which is in Members' Voluntary
Liquidation, are required (if they have not already done so), on
or before January 21, 2005, 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 Joint and Several
Liquidators of the companies at Messrs. Kennic L. H. Lui & Co.,
5th Floor, Ho Lee Commercial Building, 38-44 D'Aguilar Street,
Central, Hong Kong.

If so required by notice in writing from the said Liquidators,
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. In default thereof, they will be
excluded from the benefit of any distribution before such debts
are proved.

Kennic Lai Hang Lui
Leung Mun Yee Ruby
Joint and Several Liquidators

This notice is dated December 31, 2004.


YICK SHING: Winding Up Hearing Slated for January 19
----------------------------------------------------
Notice is hereby given that a petition for the winding up of
Yick Shing Transportation Company Limited by the High Court of
Hong Kong was on November 29, 2004 presented to the said Court
by Lai Kin Wai Anthony of Room B3201, Wun Wah House, Lok Wah
Estate, Ngau Tau Kok, Kowloon, Hong Kong.

The said petition will be heard before the Court at 9:30 a.m. on
January 19, 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.

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

Note: Any person who intends to appear at the hearing of the
said petition must serve on or send by post to the above named,
notice in writing of his intention to do so.  The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the above named not
later than six o'clock in the afternoon of January 18, 2005.

This notice is dated December 31, 2004


WING TAK: Schedules Members Meeting on January 13
-------------------------------------------------
Notice is hereby given that pursuant to Section 247 of the
Companies Ordinance, a meeting of the members of Wing Tak
Wholesale, Import And Export Limited will be held at 26th Floor,
Wing On Centre, 111 Connaught Road Central, Hong Kong on January
13, 2005 at 2:30 p.m.

To be followed by a meeting of the creditors of the Company to
be held at the same place at 2:45 p.m. for the purpose of
receiving an account of the liquidator's act and dealings and of
the conduct of the winding up of the Company during the year
ended October 15, 2004.

A member or creditor entitled to attend vote at the above
meeting may appoint proxy to attend and vote instead of him. A
proxy need not be a member or creditor of the Company. Forms of
proxies for both meetings must be lodged at 26th Floor, Wing One
Centre, 111 Connaught Road Central, Hong Kong not later than
4:00 p.m. on the day before the meetings.

Lai Kar Yan (Derek)
Darach E. Haughey
Joint and Several Liquidators

This notice is dated December 31, 2004


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


INDOFOOD SUKSES: Fails in Second US$280 Mln Bond Buy Back Bid
-------------------------------------------------------------
PT Indofood Sukses Makmur's bondholders failed to approve the
proposed repurchase of US$280 million in international bonds
maturing in 2007, Dow Jones reports.

Indofood's failure to obtain approval has paved the way for a
court bid to get permission for the planned buy back.

Previously, the instant noodle maker has announced its intention
to go to the U.K. courts to secure consent to redeem the bonds
at par if bondholders failed to give their approval.

Holders of 42.8 percent of the bonds gathered in Singapore
Friday morning, meeting the minimum requirement of a 25 percent
quorum, but only 21.64 percent of those represented voted in
favor of the buyback, far less than the 75 percent approval
needed.

Indofood aims to repay the bonds early due to the termination of
a double taxation agreement between Indonesia and Mauritius at
the beginning of the year. Ending the treaty means a doubling of
withholding tax to 20 percent for bonds such as Indofood's 2007
notes sold via the African island state.

The Company has already obtained a US$280 million six-month loan
to finance the cost of the bond repayment. It intends to sell
rupiah-denominated bonds later in the year to repay the loan.

CONTACT:

PT Indofood Sukses Makmur Tbk.
Ariobimo Sentral Bldg., 12th Fl.,
Jl. H.R. Rasuna Said X-2 Kav 5, Kuningan
Jakarta, 12950, Indonesia
Phone: +62-21-522-8822
Fax: +62-021-522-6014
Web site: http://www.indofood.co.id


TELEKOMUNIKASI INDONESIA: To Pay US$112 Mln Debt Installment
------------------------------------------------------------
State telecommunications Company PT Telekomunikasi Indonesia
(Telkom) has declared it will pay US$112 million in debt
installments in the first quarter of 2005.

According to Telkom Finance Director Rinaldi Firmansyah, the
repayment will reduce the firm's debt to US$638 million.

Mr. Firmansyah said earlier that Telkom reduced its foreign
exchange debt by US$100 million using funds it raised from
medium term notes. Recently, Telkom issued medium tern notes
valued at IDR1.125 trillion (US$125 million) to refinance debts.

CONTACT:

P.T. Telekomunikasi Indonesia (Persero)
Jalan Japati No 1
Bandung 40133
Indonesia
Phone: +62 22 452 1108
Fax: +62 22 452 1408
Web site: http://www.telkom.co.id/


SEMEN GRESIK: Government to Settle Cemex Dispute Out of Court
-------------------------------------------------------------
Cemex Asia has agreed to suspend the arbitration process for its
dispute with the government over PT Semen Gresik, according to
Asia Pulse.

The next arbitration hearing was set to be held today, but the
government and Mexico-based Cemex have agreed to resolve the
protracted dispute out of court.

State Enterprises Minister is optimistic a solution to the
problem could be found in the next few weeks.

Cemex, which already holds around 25 percent of the shares of
Gresik, has earlier filed a suit with an international
arbitration court accusing the government of failing to meet the
contract under which it is given the right to buy the government
stake in state-owned Semen Gresik.

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: To Start Code-share Operations with Asiana
------------------------------------------------------
All Nippon Airways (ANA) and Asiana have announced that they
have filed for permission to extend their current code-sharing
agreement and begin code-sharing flights between Central Japan
International Airport (Centrair) in Nagoya and Seoul's Incheon
Airport, from February 17, 2005

Twenty-one flights per week will be covered by the agreement:
seven operated by ANA, using 166 seat Airbus A320 aircraft in a
single class configuration; 14 operated by Asiana using 177 seat
Airbus A321 aircraft and 260 seat Boeing 767-300 aircraft, both
in a two class configuration.

Asiana will also put its code on ANA operated domestic flights
from Centrair to Sapporo (Chitose) from the same date. This will
be in addition to the Tokyo (Haneda) to Osaka (Kansai) and
Fukuoka flights operated by ANA on which the airlines already
code-share.

ANA and Asiana first began code-sharing operations on December
27, 2000. The extended agreement will bring the total number of
code-sharing flights operated by both airlines between the
Japanese cities of Tokyo, Osaka, Nagoya, Fukuoka and the Korean
capital to 91 flights per week: 21 by ANA, 70 by Asiana.

CONTACT:

All Nippon Airways Co Ltd
5-10 Hanedakuko 3-Chome
Ohta-Ku 144-0041, Tokyo 100-6027
Japan
Phone: +81 3 5756 5665
Fax: +81 3 5756 5679
Web site: http://www.ana.co.jp/eng/index.html


ALL NIPPON: Introduces Fuel Surcharge for International Flights
---------------------------------------------------------------
Effective this Feb. 1, All Nippon Airways (ANA) will add a
surcharge to all international fares to combat the long-term
effects of increased oil prices.

ANA will continue its own efforts to curb rising costs, and will
discontinue the surcharge if the average monthly price of
Singapore kerosene drops below US$40.

A rise in domestic fares of JPY200-300 with effect from January
11, 2005, was also previously announced in November last year.

Details of the International Fuel Surcharge are as follows:

Route                             Surcharge (per sector, person)

Japan=Europe, North America
(including Hawaii), South America      JPY2,500

Japan=Thailand, Singapore, Vietnam,
Malaysia                               JPY1,800

Japan=China, Hong Kong, Taiwan, Guam   JPY1,000
Japan=Korea 500

Conditions:

(1) Applies to all fares, including discount fares. The
surcharge is not subject to any discount whatsoever.
(2) Does not affect conditions applicable to the ticket
purchased.
(3) In case of reimbursement of a ticket, the surcharge will be
reimbursed in full and is not subject to any penalty payments.


DAIEI INCORPORATED: Set to Brief Creditors Today
------------------------------------------------
Troubled firms Daiei Incorporated and Misawa Homes Holdings
Incorporated are set to hold briefings for creditors today,
relates Kyodo News.

The move comes after the state-backed Industrial Revitalization
Corporation of Japan (IRCJ) decided Dec. 28 to help revive the
businesses of the retail giant and the homebuilder.

Daiei and Misawa, both rehabilitating under the auspices of the
IRCJ, have said they will request financial assistance from
creditors.

CONTACT:

The Daiei Incorporated
4-1-1, Minatojima Nakamachi,
Chuo-ku, Kobe, 650-0046
Japan
Phone: +81-78-302-5001
Fax: +81-78-302-5572
Web site: www.daiei.co.jp


DAIEI INCORPORATED: Aims to Seek Waiver on Most Unsecured Debt
--------------------------------------------------------------
Daiei Incorporated and the state-backed Industrial
Revitalization Corporation of Japan (IRCJ) are keen on asking
the ailing retailer's main creditor banks to waive 81 percent of
its unsecured debt, Reuters says, citing the Nihon Keizai
Shimbun.

The proposal is scheduled for presentation to the firm's major
lenders today along with an outline of the firm's rehabilitation
plan.

The IRCJ says estimated the total debt waivers to reach JPY405
billion, some 81 percent of the unsecured portion of the
retailer's debt. The corporate turnaround body has also
concluded that Daiei's debt is comparatively high based on its
earnings ability, which prompted it to decide to ask lenders to
forgive a large portion of its debt.

After protracted negotiations, the IRCJ finally approved on Dec.
28 a restructuring program for Daiei that would see the
retailer's banks provide nearly US$6 billion in aid.


MATSUSHITA ELECTRIC: Mulls Sale of Unprofitable Unit
----------------------------------------------------
Matsushita Electric Industrial Co. said it plans to offload its
debt-laden property arm Matsushita Development and Investment
Co. (MDIC), Reuters reports, citing the Nihon Keizai Shimbun.

Matsushita Electric is currently in talks with main lender,
Sumitomo Banking Corp., the Matsushita group and others, asking
for some JPY100 billion (US$953.2 million) in financial aid to
cover latent losses suffered by the unit.

The firm may also ask further financing from its lenders if
Sumitomo Mitsui agrees to extend financial support.

It is expected that Sumitomo Mitsui be forced to provide
financing after the Financial Services Agency set Japan's major
banks a target of halving their bad debts by the end of the
financial year in March.

Daiwa House Industry Company Limited was tipped to be the strong
contender to buy MDIC.

CONTACT:

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


MITSUBISHI MOTORS: To Supply Cars to Peugeot, Nissan
----------------------------------------------------
Embattled automaker Mitsubishi Motors Corporation (MMC) has
inked deals to supply cars to Japan's Nissan Motor and France's
Peugeot SA starting 2006, reports the Yomiuri Shimbun.

On an original equipment manufacturing (OEM) basis, MMC will
sell mini vehicles to Nissan and sports utility vehicles to
Peugeot. The OEM deals will be included in MMC's new
revitalization plan to be unveiled later this month.

The ailing Japanese carmaker has postponed the release of its
revival plan, saying it needed more time to refine corporate
tie-ups and alliances as well as capital enhancement to boost
its financial health.

Earlier, Nissan has confirmed it is keen on a tie-up with MMC.
Peugeot, on the other hand, said it had no alliance plans and no
active cooperation project with MMC.

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


SEIBU RAILWAY: Stock Scandal Spurs Reform Panelist Resignation
--------------------------------------------------------------
A management reform panelist for Seibu Railway Company resigned
Friday after it was found that he was aware of irregularities
involving the Company's stock ownership in 2003, reports The
Japan Times.

Atsushi Ikeda stepped down as secretary general of the
management reform panel but is expected to carry on as managing
director. Mr. Ikeda reportedly attended a meeting of group
executives in 2003 in which they discussed how to deal with the
irregularities.

In November, the Company insisted that its incumbent executives
were not aware of the problem.

Seibu Railway admitted on Oct. 13 that it had underreported the
stakes held in it by major shareholders, including Kokudo Corp.,
a private firm that effectively controls the Seibu Railway
group. The railway company also revealed that the practice has
been going on for more than 40 years.

Mr. Ikeda's sudden departure from the reform panel is expected
to cause a delay in the panel's plan to release a management
improvement plan by the end of this month.

CONTACT:

Seibu Railway Co Ltd
11-1 Kusunokidai 1-Chome
Tokorozawa 359-8520, Saitama 359-8520
Japan
Phone: +81 42 926 2081
Fax: +81 42 926 2237
Web site: http://www.seibu-group.co.jp/


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


THRUNET COMPANY: Hanaro to Ink Takeover Contract January 20
-----------------------------------------------------------
Hanaro Telecom Inc. will seal the deal to purchase Thrunet Co.
Ltd. around January 20, reports Asia Pulse.

Creditors are expected to set the price Monday before Hanaro
would sign the formal contract to takeover Thrunet, a Hanaro
Official, who prefers anonymity said.

The official's statement came out after a local media reported
Hanaro may delay the signing of the formal contract to acquire
Thrunet due to price differences.

Under an agreement between Hanaro and Thrunet last month,
following the selection of Hanaro as the prime bidder, Thrunet's
creditors led by the Korea Development Bank (KDB) must complete
fine-tuning the price by January 19, and will execute the
signing of contract five days after which falls on January 24.

Hanaro, controlled by U.S. investors American International
Group and private equity firm Newbridge Capital offered about
KRW480 billion won in the Thrunet bidding December 13.  It
outbid Dacom Corp. in an alliance with Merril Lynch.

Thrunet has 1.29 million broadband subscribers, which
constitutes 11 percent of the local market.  The completion of
the deal would enable Hanaro increase its current 24 percent
holding in the broadband Internet market. KT Corporation
dominates the market with a 51 percent holding.

CONTACT:

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


* Debt Workout Programs Rescue 1.01Mln Credit Defaulters
--------------------------------------------------------
An estimated 1.01 million debt defaulters were reportedly taken
off the credit blacklist in 2004 through various debt workout
program, relates The Korea Times, citing the Ministry of Finance
and Economy (MOFE).

Credit Consulting & Recovery Service received last year around
288,000 applicants seeking for debt rescheduling programs, an
alarming increase from 505 in year 2002 and 63,000 delinquents
in 2003.

Credit Consulting is an arbitration body founded by a group of
local financial services companies in October 2002.

According to the MOFE, about 187,000 of the 211,000 credit
defaulters who applied for the rescheduling through the "bad
bank" were taken off the blacklist by paying three percent of
their debts.  Bad banks acted as an agent for the collection of
financial services companies' overdue loans from May through
November last year.

About 115,000 credit delinquents resumed their financial
activities through the debt workout program jointly run by the
Industrial Bank of Korea and LG Investment & Securities in 2004.

Another 400,000 credit defaulters could be freed from the
blacklist with the help of various debt-rescheduling services
operated by other local financial services companies last year.

The government aims to further reduce the number of credit
defaulters by establishing a "joint debt collection firm" in the
near future.  The collection company could not only help improve
lenders' financial health, it could also provide credit
defaulters to practically be debt free, MOFE officials said.

At the end of November last year, the number of credit
defaulters dropped to about 3.65 million from a record high of
3.97 million in April, the officials added.


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


AYER HITAM: Appoints Financial Advisors
---------------------------------------
Pursuant to the announcement on 28 October 2004 that Ayer Hitam
Tin Dredging Malaysia Berhad (AHTIN) is an affected listed
issuer under Practice Note 4/2001 of the Bursa Malaysia Listing
Requirements, the Company is required to regularize its
financial condition within the time frame stipulated in
Paragraph 5.1 of the said Practice Note.

The Company announces that it has appointed Avenue Securities
Sdn Bhd to advise the Company in formulating and implementing an
appropriate restructuring/workout scheme to turnaround its
business operations and financial position.

This announcement is dated January 7, 2005.

CONTACT:

Ayer Hitam Tin Dredging Malaysia Berhad
No 8 Jalan Raja Chulan
Kuala Lumpur, 50200
MALAYSIA
Phone: +60 3 2031 9633
Fax: +60 3 2031 6920


FABER GROUP BERHAD: Granted Listing of Additional Shares
--------------------------------------------------------
Faber Group Berhad's additional 4,693,575 new ordinary shares of
RM1.00 each arising from the conversion of RM9,387,150 nominal
value of 2000/2005 irredeemable convertible unsecured loan
stocks into 4,693,575 new ordinary shares will be granted
listing and quotation from 9:00 a.m. Thursday, 11 January 2005.

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


KUB MALAYSIA: SC Approves Proposal Revision
-------------------------------------------
KUB Malaysia Berhad (KUB) refers to its announcements dated 26
May 2004, 30 June 2004 and 4 November 2004.

KUB Malaysia Berhad had on 10 November 2004 and 22 December 2004
sought the approval of Securities Commission (SC) for removal of
the following condition as imposed by the SC in its approval
letter dated 28 October 2004 on the Proposals:

(i) The adviser/KUB to highlight in the circular to shareholders
the financial impact of the proposal on KUB and analyze the
future plans vis-.-vis KUB and AWM (Condition 1).

The Company announces that the SC had via its letter dated 30
December 2004 (which was received on 7 January 2005) approved
the application for the removal of Condition 1.

Arising from the proposed scheme of arrangement under section
176 of the companies act, 1965 between AWM, a wholly owned
subsidiary of KUB via its shareholding in Restoran Kualiti Sdn
Bhd and its scheme creditors.

Hereinafter collectively referred to as the "Proposals."

(i) Proposed Issuance Of 1,706,776 New Redeemable Convertible
Preference Shares of KUB of RM0.10 each at an issue price of
RM1.00 each to scheme A creditor of A&W (Malaysia) Sdn Bhd
(AWM);

(ii) Proposed issuance of 15,425,053 new redeemable convertible
preference shares of KUB Of RM0.10 each at an issue price of
RM1.00 each to scheme B creditors of AWM;

(iii) Proposed issuance of 10,741,651 new ordinary shares of kub
of rm1.00 each at an issue price of rm1.00 each to scheme C
creditors of AWM; and

(iv) Proposed issuance of up to 20,216,840 new ordinary shares
of KUB of RM1.00 each at a minimum issue price of RM1.00 each to
scheme A creditor and scheme B creditors of AWM Upon Conversion
of their respective redeemable convertible preference shares,
inclusive of up to 3,085,011 new ordinary shares of KUB Of
RM1.00 each arising from the dividend payments payable to scheme
B creditors in lieu of cash;

CONTACT:

KUB Malaysia Berhad
No. 6, Block H
Jalan 65C
Off Jalkan Pahang Barat
53000 Kuala Lumpur
Phone: 03-421 4121
Fax: 03-423 3090

This announcement is dated January 7, 2005.


LION CORPORATION: Lists Additional Shares
-----------------------------------------
Lion Corporation Berhad's additional 209,000 new ordinary shares
of RM1.00 each issued pursuant to the executive share option
scheme will be granted listing and quotation with effect from
9:00 a.m., Tuesday, 11 January 2004.

CONTACT:

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


LION INDUSTRIES: Notes Additional Listing of Shares
---------------------------------------------------
Lion Industries Corporation Berhad's additional 592,000 new
ordinary shares of RM1.00 each issued pursuant to the executive
share option scheme will be granted listing and quotation with
effect from 9:00 a.m., Tuesday, 11 January 2004.

CONTACT:

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


LITYAN HOLDINGS: Issues Default Status Update
---------------------------------------------
With reference to the monthly default announcement dated 3
January 2005, Lityan Holdings Berhad (LHB) announced that the
Company and its subsidiary Lityan Systems Sdn Bhd (LSB) had
received the Writ of Summons and Statement of Claim (Kuala
Lumpur High Court Summons No. D3-22-1676-2004) from the RHB Bank
Berhad (RHB) for default in payment of the overdraft facility
granted by RHB to LSB.

CONTACT:

Lityan Holdings Berhad
Bangunan Lityan,
Peremba Square Saujana Resort,
Section U2
40150 Shah Alam
Selangor Darul Ehsan Malaysia
Phone: + 603-7622-1188
Fax: +603-7666-6870
E-mail: enquiry@lityan.com.my

This announcement is dated January 7, 2005.


MMC CORPORATION: Details Disposal of Shares
-------------------------------------------
MMC Corporation announced that Anglo-Oriental had on 7 January
2005 disposed of 50,000,000 ordinary shares of RM0.50 each in
Sime Darby (Sime Darby Shares), representing approximately 2.12%
equity interest in Sime Darby, for a total cash consideration of
RM285,000,000 or RM5.70 per share to Lembaga Tabung Haji.

The disposal price of RM5.70 represents a 9.38% discount to the
five (5)-day volume weighted average market price of Sime Darby
Shares up to 6 January 2005 of RM6.29. The disposal was effected
by way of a direct business transaction in accordance with the
rules and regulations of Bursa Malaysia Securities Berhad (Bursa
Securities).

Any future transactions for the balance of up to 41,082,047 Sime
Darby Shares, representing 1.75% equity interest in Sime Darby
pursuant to the Disposal, will be announced to Bursa Securities
accordingly.

CONTACT:

MMC Corporation Berhad
10th Floor, Block B, HP Towers
No. 12, Jalan Gelenggang, Damansara Heights
50490 Kuala Lumpur
Malaysia
Phone: +603 2092 5588
Fax: +603 2093 9917

This announcement is dated January 7, 2005.


NAUTICALINK BERHAD: Names New Director
--------------------------------------
Nauticalink Berhad has appointed Mr. Low Chan Fai as its new
Director on January 7, 2004.

Date of change: 05/01/2005

Type of change: Appointment

Designation: Non-Executive Director

Directorate: Non Independent & Non Executive

Name: Low Chan Fai

Age: 36

Nationality: Malaysian

Qualifications: Associate Member of The Chartered Institute of
Management Accountants (UK)

Working experience and occupation: Occupation as Company

Director with working experience as follows:
2002 to present - CEO/Executive Director of House of Woohing Sdn
Bhd

May 1999 to March 2002 - Executive Director of Woo Hing Brothers
(M) Berhad

Jan 1996 to May 1999 - General Manager, Corporate Finance &
Corporate Planning with Arus Murni Corporation Berhad

Jan 1998 to 2002 - COO/Executive Director of Giltedged Options
And Futures Sdn Bhd

Directorship of public companies (if any): Nil

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: Nil

CONTACT:

Nauticalink Berhad
8th Flr, Tower Block
Plaza Pekeliling
2, Jln Tun Razak
50400 Kuala Lumpur
Phone: 03-40431005
Fax: 03-40431058


NAUTICALINK BERHAD: Unveils January 5 EGM Resolutions
-----------------------------------------------------
The Extraordinary General Meeting (EGM) of the shareholders of
Nauticalink Berhad (NB) held on Wednesday, January 5, 2005,
passed the following four (4) ordinary resolutions:

(1) "That N. Sivagurunathan A/L V. Narayanasamy (NRIC No.
600618-07-5047) be and is hereby appointed a Director of the
Company with immediate effect."

(2) "That Ng Kay Eng (NRIC No. 640803-10-6913) be and is hereby
appointed a Director of the Company with immediate effect."

(3) "That Paul Foo Chee Kin (NRIC No. 680707-07-5527) be and is
hereby appointed a Director of the Company with immediate
effect."

(4) "That Low Chan Fai (NRIC No. 690610-10-5215) be and is
hereby appointed a Director of the Company with immediate
effect."

The motions to remove the four existing Directors, namely,
Hamdan bin Sulaiman, Wan Azizul bin Wan Yusoff, Ismail bin
Yaacob and Abdul Ghafar bin Abd Samat (in that order) were not
carried.

Nauticalink Berhad announced that there had been no new
appointments on the Board of NB between 8 November 2004, being
the date of the requisition notice, and before the beginning of
this EGM. Hence, the motion stated as proposed "Resolution No.
9" in the EGM Notice was not put to vote.

CONTACT:

Nauticalink Berhad
8th Flr, Tower Block
Plaza Pekeliling
2, Jln Tun Razak
50400 Kuala Lumpur
Phone: 03-40431005
Fax: 03-40431058


PAN MALAYSIA: Unveils Shares Disposal of Subsidiary Company
-----------------------------------------------------------
Pan Malaysia Corporation Berhad (PMC) announced that its
subsidiary, Lembaran Megah Sdn Bhd, disposed of/sold all its
shares to the Chemical Company of Malaysia Berhad (CCM). Here
are details on the disposal:

1. INTRODUCTION

The Company announced that, on 7 January 2005, Lembaran Megah
Sdn Bhd (LMSB) disposed of its entire shareholding of 82,303,000
ordinary shares of RM1.00 each (hereinafter referred to as the
Sale Shares) representing 22.3% of the issued and paid-up share
capital of CCM, at RM2.35 per share for a total gross cash
consideration of RM193.4 million (excluding brokerage and
commission charges) through a stockbroker by way of Direct
Business Transaction via Bursa Malaysia Securities Berhad
(hereinafter referred to as the "Disposal).

2. DETAILS OF THE DISPOSAL

LMSB is a wholly owned subsidiary of PMC.

The Disposal was made in the open market through a stockbroker
by way of Direct Business Transaction via Bursa Malaysia
Securities Berhad. There were no liabilities assumed by the
purchaser pursuant to the Disposal. The Sale Shares were sold
free from all liens and encumbrances, and together with all
rights and benefits attaching thereto as at disposal date.

The Sale Shares were acquired by LMSB over a period of time
since 1996 at an average aggregate cost of RM217.4 million.

With the Disposal, CCM ceases to be an associate of PMC Group.

3. BACKGROUND INFORMATION ON CCM

CCM was incorporated in Malaysia on 7 August 1963. As at 30
November 2004, CCM has an authorized share capital of
RM800,000,000 comprising 800,000,000 ordinary shares of RM1.00
each, and the issued and paid-up share capital was RM374,685,866
comprising of 374,685,866 ordinary shares of RM1.00 each. CCM is
principally an investment holding and management Company with
subsidiaries and associated companies engaged in the manufacture
and marketing of fertilizers, chlor-alkali products,
pharmaceuticals and healthcare products and the marketing of a
wide range of chemicals. CCM shares are listed and traded on
Bursa Malaysia Securities Berhad.

Based on the latest audited consolidated accounts of CCM as at
31 December 2003, the net tangible assets of CCM was RM478.6
million. For the financial year ended 31 December 2003, the CCM
Group recorded a pre-tax profit of RM58.2 million.

4. APPROVAL REQUIRED

The Disposal is not subject to approval of the shareholders and
any governmental authorities.

5. EFFECTS OF THE DISPOSAL

On Share Capital and Substantial Shareholders' Shareholdings

The Disposal has no effect on the share capital and substantial
shareholders' shareholdings of PMC.

On Earnings and Net Tangible Assets

The average aggregate cost of the Sale Shares was RM217.4
million. However, after taking into account the post-acquisition
reserves of CCM, the Disposal is expected to result in a loss of
approximately RM44.96 million to PMC Group, which decrease the
earnings per share and net tangible assets per share of PMC
Group by approximately 5.4 sen respectively for the current
financial year ending 31 December 2005.

6. RATIONALE

As part of the rationalization exercise of the PMC Group, the
Disposal will enable the PMC Group to raise substantial proceeds
to reduce borrowings and channel additional working capital for
its business operations and also for business expansion. The
reduction in borrowings will result in interest savings for the
PMC Group.

7. DIRECTORS' AND MAJOR SHAREHOLDERS' INTERESTS

None of the Directors, major shareholders and persons connected
with the Directors and major shareholders of PMC has any
interest, direct or indirect, in the Disposal.

Mr Tan Peng Hock, who is a Director of PMC, also sits on the
board of CCM.

8. DIRECTORS' STATEMENT

The Directors are of the opinion that the Disposal is in the
best interests of the Company.

CONTACT:

Pan Malaysia Industries Berhad
14/F MUI Plaza, Jalan P. Ramlee,
50250 Kuala Lumpur
Malaysia
Telephone: (60) 3244-1470
Fax: (60) 3244-7789


POS MALAYSIA: Notes Additional Listing of Shares
------------------------------------------------
POS Malaysia & Services Holdings Berhad's additional 100,000 new
ordinary shares of RM1.00 each issued pursuant to the executive
share option scheme will be granted listing and quotation with
effect from 9:00 a.m., Tuesday, 11 January 2004.

CONTACT:

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


REKAPACIFIC BERHAD: Releases Monthly Status Update
--------------------------------------------------
The Board of Directors of RekaPacific Berhad released its forty-
sixth monthly status update as follows:

1. In respect of the Company's judicial review proceedings
against Bursa Malaysia Securities Berhad (The Exchange) and the
Securities Commission in their first decision to de-list the
Company on 12 December 2001, the developments are:

i. On 8 December 2004, the Exchange's application for
clarification of the Stay Order dated 24 December 2001 has been
vacated before the Honorable of court;

ii. On 8 December 2004, the Exchange's application to strike out
the Company's judicial review proceedings has been vacated
before the Honorable court;

iii. On 22 November 2004, the Company's appeal to the Court of
Appeal against the dismissal of its applications for discovery
and interrogatories, and leave to cross-examine (Enclosure 11
and 18 respectively) were dismissed with costs; and

iv. On 22 November 2004, the Exchange's appeal against the stay
order dated 10 February 2003 to stay the hearing of the
substantive judicial review application (Enclosure 9) pending
final disposal of the Company's appeal to the Court of Appeal
against the dismissal of its applications for discovery and
interrogatories, and leave to cross-examine (Enclosure 11 and 18
respectively) was granted by the Courts of appeal with costs.

2. In respect of the second decision of the Exchange to de-list
the Company on 26 March 2004, the Company was granted leave to
institute judicial review proceedings against the Exchange's
second decision. Nevertheless at the same hearing, the Company's
application for a stay of the Exchange's second decision was
disallowed.

Yours faithfully,
For and on behalf of
BOARD OF DIRECTORS OF REKAPACIFIC BERHAD

CONTACT:

RekaPacific Berhad
77-1 Jl Setiabakti Bukit Damansara
Kuala Lumpur, 50490
MALAYSIA
Phone: +60 3 2094 2260
Fax: +60 3 2094 2335


WOO HING: Seeks Proposal Extension
----------------------------------
Woo Hing Brothers (Malaya) Berhad announced that the deadline
for the implementation of its "Kamdar Proposals" expired on 6
January 2005.

The Special Administrator of the Company submitted an
application to the Securities Commission (SC) to seek for an
extension of time of an additional four (4) months up to 6 May
2005 for the implementation of the Kamdar Proposals. To date,
the said application is still pending approval from the SC.

Collectively Referred To As The "Kamdar Proposals"

1) Proposed Acquisitions;
2) Proposed Share Swap;
3) Proposed Restricted Offer For Sale;
4) Proposed Placement;
5) Proposed Listing Transfer;
6) Proposed Main Board Transfer; And
7) Proposed Disposal Of WHB

CONTACT:

Woo Hing Brothers (Malaya) Berhad
179 Jalan Bukit Bintang
Kuala Lumpur, 55100
Malaysia
Phone: +60 3 2144 1233
Fax: +60 3 2142 2228

This announcement is dated January 7, 2005.


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


BENPRES HOLDINGS: Shareholder Furnishes SEC Form 23-B
-----------------------------------------------------
A shareholder of Benpres Holdings Corporation (BPC) furnished
the Philippine Stock Exchange a copy of its SEC Form 23-B
(Statement of Changes in Beneficial Ownership of Securities).

For a copy of the said document, go to
http://bankrupt.com/misc/tcrap_benpres011005.pdf

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

CONTACT:

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


COLLEGE ASSURANCE: To Buy Out Plans, Bring in New Investors
-----------------------------------------------------------
Struggling Company College Assurance Plans (Philippines) Inc.
(CAP) is set to present a formal proposal to buy out the
educational plans of its plan holders to the Securities and
Exchange Commission (SEC) this week, ABS CBN News reports.

According to industry sources, CAP had already informed the Sec
of its proposal last week, with the help of a group of private
investors. With the pretermination of the plans, plan holders
can recover the amount they used to buy the plans, but the
amount will depend on the year of termination (of the plans).

According to industry sources, CAP would convert its trust fund
liabilities into equity after the buy-out, involving
transferring the trust fund to the private investors, who can
either sell or develop them. As of last year, CAP's trust fund
was worth Php8.95 billion, divided among MRT bonds, real estate,
stocks fixed income placements and receivables. However, the
actuarial reserve liability (ARL) or the present value of the
firm's future liabilities is worth Php25.7 billion; the trust
fund is not enough to cover its liabilities, with a deficit of
Php17.2 billion, prompting the question of how the firm will
meet future obligations to its 780,000 plan holders.

At present, CAP still cannot sell new pre-need plans since its
dealer's license has not been renewed; SEC is waiting for the
firm to fulfill its promise of bringing in new investors to
improve its financial situation. Officials said that the firm is
in talks with a U.S.-based investor for a loan of up to $300
million.

The Company is questioning the basis for the actuarial reserve
liability (ARL) imposed by the SEC on all pre-need firms.
According to CAP officials, the firm's ARL of Php27.5 billion is
grossly overstated.

The ARL is computed on the basis of assumptions on interest
rates, inflation rates, and percentage of lapsed plans or
contracts cancelled due to incomplete payment and, in the case
of educational plans, tuition increases.

CAP is expected to submit its proposed changes to the ARL
computation to the commission next week.

CONTACT:

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


COLLEGE ASSURANCE: Deal With Investor Still Up for Review
---------------------------------------------------------
The US$300 million loan agreement between the College Assurance
Plans Inc. (CAP) and First American Investment Ltd. is still up
for review as the Securities and Exchange Commission (SEC)
awaits for "certain details" of the deal, Yehey Finance reports.

Earlier reports said the pre-need firm and a foreign fund
manager had agreed on the terms and conditions of the infusion
by First American.

The loan, convertible into equity if not paid, is reportedly
payable in 10 years and carries an annual interest of 10 percent
with a grace period of four years.

In a recent TCR-AP report, the Company has total assets of
Php18.5 billion versus liabilities of Php23.4 billion. CAP's
trust fund, which stood at Php8.5 billion as of end-2003, also
has a "seemingly insurmountable" deficit of Php17.2 billion.

The Company had been disputing the SEC's computation of its ARL,
arguing that the regulatory body overstated it by 41 percent in
2003.

CONTACT:

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


NATIONAL POWER: Hopes to Save on Auction with E-bidding System
--------------------------------------------------------------
Government firm National Power Corporation (Napocor) used its
electronic bidding system (normally used to obtain fuel) in a
construction bid, according to The Business World.

The auction was for the construction of a drainage system and
slope protection for an access road to the Angat hydroelectric
plant in Bulacan, Business World reports. Twintech Builders and
Developers, Inc. won the bid, with an offer of Php9.6 million.
According to Napocor, the bid was significantly lower than its
approved budget of Php12.19 million, but did amount to a savings
of more than Php2.5 million.

Twintech will have to furnish all superintendence, labor,
materials, supplies, equipment necessary to restore reliability
and safety of the 9.7-kilometer access road. The firm is
expected to complete the project by July.

According to the firm, the e-bidding method was set up in 2003
for infrastructure projects, but has not submitted successful
results until the Angat project.

Napocor is the first government corporation in the Philippines
to use the e-bidding system. Pursuant to Republic Act 8792 or
the Electronic Commerce Act of 2000, it began the development of
the e-bidding system as early as June 2001.

Aside from creating savings for Napocor by attracting
competitive bids, the e-bidding method has boosted the integrity
of the bidding process and promoted transparency and
effectiveness in its procurement system, the firm said.

CONTACT:

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


PHILIPPINE LONG: Posts Changes in Beneficial Securities
-------------------------------------------------------
In compliance with Section 13 of the Revised Disclosures Rules
of the Philippine Stock Exchange, the Philippine Long Distance
Telephone Co. announced the changes that have taken place in the
shareholdings of Mr. George N. Lim as follows:

Name: George N. Lim
Position: Senior Vice President

Date of Transaction: January 10, 2005

No. of shares acquired:

No. of shares disposed: 1,000 shares

Price: Php1,355.00

No. of shares Beneficially owned: 700

CONTACT:

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


PHILIPPINE REALTY: Unveils FY04 Board Meeting Attendance
--------------------------------------------------------
The Philippine Realty and Holdings Corporation announced the
board meeting attendance of its Directors for the calendar year
2004.

Directors                   Meetings       Meeting
                             Present       Absent

Mr. Gerardo O. Lanuza Jr.      13            0
Mr. Juan Antonio O. Lanuza     12            1
Mr. Antonio O. Olbes           10            3
Mr. Walter W. Brown            10            3
Mr. Annabelle P. Brown          9            4
Mr. Amador C. Bacani           13            0
Mr. Jose Ma. R. Francisco      13            0
Mr. Gerarld H. Brimo            0           13
Mr. Miguel M. Ortigas Jr.      13            0
Mr. Manuel O. Orros *           8            5
Mr. Ramon Cuervo III *          7            6

* Independent Director

Jose Ma. R. Francisco
Corporate Secretary
January 7, 2004.

CONTACT:

Philippine Realty & Holdings Corporation
3/F Magnitude Building
186 E. Rodriguez, Jr. Avenue
Libis, Quezon City
Phone No:  631-3179 to 80
Fax No:  634-1504
E-mail Address:  philrltv@info.com.ph
Auditor:  C.L. Manabat & Company
Transfer Agent:  Fidelity Stock Transfer, Inc.


VICTORIAS MILLING: Director Furnishes SEC Form 23-A
---------------------------------------------------
Further to Circular for Brokers No. 5341-2004 dated December 10,
2004, Mr. Tubio Hubert, a newly elected Director of Victorias
Milling Company, Inc. (VMC), furnished the Philippine Stock
Exchange a copy of his SEC Form 23-A (Initial Statement of
Beneficial Ownership of Securities).

A copy of the said document shall be made available at
http://bankrupt.com/misc/tcrap_vmc011005.pdf

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

CONTACT:

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


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


AKZO NOBEL: Creditors to Submit Claims by February 7
----------------------------------------------------
Notice is hereby given that the creditors of Akzo Nobel Coatings
Pte Ltd, which is being wound up voluntarily, are required on or
before February 7, 2005 to send in their names and addresses and
particulars of their debts or claims, and the names and
addresses of their solicitors (if any) to the undersigned, the
liquidator of the said Company.

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

Peter Ulf Renmarker
Liquidator.
14 Sungei Kadut Way
Singapore 728788.

This Singapore Government Gazette notice is dated January 7,
2005.


CHINA AVIATION: Details Shareholders' U.S. Class Action
-------------------------------------------------------
China Aviation Oil (S) Corp Ltd details on the shareholders'
class-action suit in the U.S. against CAO at the Singapore Stock
Exchange.

With reference to recent media reports, China Aviation Oil
(Singapore) Corporation Ltd would like to state that it has not
been served any legal papers regarding the abovementioned
Shareholders' Class Action Suit.

Submitted by:
Adrian Chang
Company Secretary


HO WAH: Enters Share Subscription Agreement
-------------------------------------------
Ho Wah Genting International Limited has entered into a share
subscription agreement with Mr. Lee Boon Hong on January 3, 2005
and with Ms. Wong Lee Juan and Mr. Lim Lian Hin on January 5,
2005, pursuant to which Mr. Lee, Ms. Wong and Mr. Lim have
agreed to subscribe for new ordinary shares in the capital of
the Company.

To view the entire document click on:
http://bankrupt.com/misc/tcrap_howah010705.pdf

Submitted by:
Wong Chin Chong David
Director


HO WAH: Details Proposed Capital Reduction
------------------------------------------
Ho Wah Genting International Limited detailed its proposed
capital reduction at the Singapore Stock Exchange last January
7, 2005.

The proposed capital reduction exercise is to reduce the par
value of each ordinary share in the share capital of the Company
from SG$0.25 to SG$0.10.

Further to the announcement made by the Company on December 13,
2004 wherein it was announced that the shareholders of the
Company had at the extraordinary general meeting of the Company
held on December 13, 2004 approved inter alia, the Capital
reduction, the Board of Directors is pleased to announce that
the High Court of Singapore has on January 5, 2005 granted an
order to confirm the capital Reduction.

By Order of the Board
Wong Chin Chong David
Director

This notice is dated January 7, 2004.


HONG LEONG: Presents Change in Director's Interest
--------------------------------------------------
Hong Leong Asia Ltd. released a notice on January 07, 2005, at
the Singapore Stock Exchange pertaining to the change in the
Percentage Level of Wrixon Frank Gasteen's Interest, a director.

Part I

(1) Date of notice to issuer:  January, 07, 2005

(2) Name of Director: Wrixon Frank Gasteen

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

Part II

(1) Date of change of Interest January 01, 2005

(2) Name of Registered Holder: Wrixon Frank Gasteen

(3) Circumstance(s) giving rise to the interest or change in
interest: Others
- Please specify details Options lapsed

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

No. of Options held before the change 200,000
As a percentage of issued share capital 0 %

No. of Options which are subject of this notice 200,000
As a percentage of issued share capital 0 %

Amount of consideration (excluding brokerage and stamp duties)
per share paid or received 0

No. of Options held after the change 0
As a percentage of issued share capital 0 %

Part III

(1) Date of change of [Select Option]

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

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

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

Part IV

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

                                               Direct     Deemed
No. of shares held before the change                0     0
As a percentage of issued share capital             0%    0%
No. of shares held after the change                 0     0
As a percentage of issued share capital             0%    0%

Submitted by:
Ng Siew Ping, Jaslin
Company Secretary


JURONG REPTILE: Contributories Meeting Set January 20
-----------------------------------------------------
Take notice that a meeting of contributories of Jurong Reptile
Park Pte Ltd will be held at 18 Cross Street, #08-01 Marsh &
McLennan Centre, Singapore 048423 on January 20, 2005
(Thursday), at 10:00 in the morning.

Agenda

(1) To update on the status of liquidation.

(2) To consider and if thought fit to appoint a committee of
inspection.

(3) Any other business.

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

Proxies to be used at the meeting must be lodged not later than
4:00 pm on January 19, 2005.

This Singapore Government Gazette notice is dated January 5,
2005.


JURONG REPTILE: Schedules Creditors Meeting January 20
------------------------------------------------------
Take notice that a meeting of creditors of Jurong Reptile Park
Pte Ltd will be held at 18 Cross Street, #08-01 Marsh & McLennan
Centre, Singapore 048423 on January 20, 2005 (Thursday), at
10:30 in the morning.

Agenda
(1) To update on the status of liquidation.

(2) To consider and if thought fit to appoint a committee of
inspection.

(3) Any other business.

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

(1) Proxies to be used at the meeting must be lodged not later
than 4:00 pm on January 19, 2005.

(2) To entitle you to vote thereat, your proof must be lodged
with the liquidators not later than 4:00 p.m on January 18, 2005
if you have not submitted your proof earlier to the liquidators.

This Singapore Government Gazette notice is dated January 5,
2005.


PANPAC MEDIA: Rectifies Executive Director, CEO Announcement
------------------------------------------------------------
Panpac Media Group Limited issued a clarifying and rectifying
statement on its announcement on the appointment of its
Executive Director and Chief Executive Officer at the Singapore
Stock Exchange.

The Board of Directors of Panpac Media Group Limited refers to
its earlier announcement dated January 4, 2005 in respect of the
appointment of Mr. Chen Xiaotao as an executive director and
chief executive officer of the Company.

The educational background and working experience of Mr. Chen
has been disclosed incorrectly in the said announcement due to
clerical error. The relevant information relating to Mr. Chen
should have been as follows:

Mr. Chen studied at The Foreign Language Institute of People's
Liberation Army and joined Stone Group in 1989 working as a
manager, General Manager, Assistant to President and Vice-
President. His work experiences include international trading,
investment portfolio management, group purchase and logistics
management and also nationwide distribution operation.

Mr. Chen also possesses extensive experience in operations
management and business development. He was the leader and chief
negotiator in the acquisition of a famous healthcare Company
that has the renowned brand "Nao Bai Jin" and the largest
network of healthcare products in the PRC. The value of the
healthcare Company is about US$200 million.

Mr. Chen also led and coordinated the investment into one of the
leading cable networks in the PRC that now has a value of more
than CNY 1 billion.


SIFORTEL SOLUTIONS: Presents EGM Resolutions
--------------------------------------------
At an Extraordinary General Meeting of Sifortel Solutions Pte.
Ltd. duly convened and held at 101A Upper Cross Street, #11-22
People's Park Centre, Singapore 058358 on Thursday, December 30,
2004 at 11:00 a.m. the following Resolutions were passed and
duly confirmed, viz:

As Special Resolution
That it has been proven to the satisfaction of this Meeting that
the Company cannot by reason of its liabilities continue its
business and accordingly, the Company should pursuant to section
290 (1) (b) of the Companies Act, Cap. 50 be wound up
voluntarily.

As Ordinary Resolutions
(a) That pursuant to section 297 (1) of the Companies Act, Cap.
50, Ms. Lo Wei Min and Ms. Lo Wei Shih of 101A Upper Cross
Street, #11-22 People's Park Centre, Singapore 058358 be
appointed as the joint and several liquidators of the Company
for the purpose of the winding up.

(b) That the liquidators be indemnified by the Company against
all costs, charges, losses, expenses and liabilities incurred or
sustained by them in the execution and discharge of their duties
in relation thereto.

(c) That the bank account necessary for the orderly winding up
of the Company be opened with a bank by the liquidators and the
authorized signatories of such bank account be appointed by the
liquidators.

Andrew Teo Ban Seng
Chairman of Meeting

This Singapore Government Gazette notice is dated January 7,
2005.


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


JASMINE INTERNATIONAL: Unveils Capital Increase Utilization
-----------------------------------------------------------
Chaengwatana Planner Company Limited, as the Plan Administrator
of Jasmine International Public Company Limited advised the
Stock Exchange of Thailand (SET) on the utilization of funds
from capital increase which occurred from the conversion of
warrants offered to the existing shareholders (JAS-W, JAS-W2)
and to directors and/or employees of the Company and its
subsidiaries (ESOP).

(1) Amount received from conversion of warrants (JAS-W, JAS-W2
and ESOP) since July 2004 to December 2004 is THB375,817.94.

(2) The abovementioned money will be utilized as working capital
of the Company.

Please be informed accordingly.
Yours sincerely,
Authorized director
(Mr.Somboon Patcharasopak)
Chaengwatana Planner Co., Ltd., the Plan Administrator of
Jasmine International Public Company Limited
Praful Shah
Managing Director

CONTACT:

Jasmine International Public Company Limited
200 Fl. 30, Moo 4, Chaengwatthana Rd.,
Pak Kret, Nonthaburi
Telephone: 0-2502-3000-7
Fax: 0-2502-3150-2
Web site: http://www.jasmine.co.th


SAFARI WORLD: Unit Shuts Down Ops for 10 Days Due to Tsunami
------------------------------------------------------------
The recent tsunami is projected to take its toll on the total
income of Safari World Plc, which is expected to decline by 25
percent in 2005, Business Day relates.

The previous 3,000 to 6,000 daily customers were reduced to 10
to 15 visits a day on Safari's affiliate Phuket FantaSea
amusement park.  With the slump in daily customer visits, Safari
decided to temporarily halt its operations from January 8 to 18.

The recent tsunami disaster drove foreigners away from affected
areas and made several tour operators cancel their programs.

"We have not yet recovered from the impacts of the avian flu
virus and now we are facing a severe impact from the tsunami
disaster," Safari World owner Pin Kewkacha said.

The tentative date for the resumption of Phuket FantaSea's
operation is January 18.  But Mr. Pin said it would still wait
until the government gives a clearer picture on its financial
assistance scheme to be given to tourism business operations in
Phuket.

In 2003, Safari and its affiliate reported a total income of
THB970.91 million. Safari is the owner of Safari World in
Bangkok, a South Africa-styled open zoo, and the Phuket FantaSea
entertainment complex at Phuket's Kamala Bay. Safari holds a
99.97 percent stake in Phuket FantaSea.

CONTACT:

Safari World Public Company Limited
99 Moo 7, Liabkhlongsong Road,
Samwatawuntok,Min Buri, Bangkok
Telephone: 0-2518-1000-19
Fax: 0-2518-1022
Web site: http://www.safariworld.com


SIAM AGRO: Posts Resolution of Board Meeting
--------------------------------------------
Siam Agro Industry Pineapple and Others Public Company Limited
advised the Stock Exchange of Thailand (SET) that during its
Board of Directors meeting No. 1/2005 held on 7 January 2005,
the following resolutions were passed:

(1) To amend the agenda of Extra Ordinary Shareholders Meeting
No. 1/2005 previously notified on 17 December 2004 due to the
fact that the Board of Directors meeting of 17 December 2004 had
not considered the agenda item in respect of 5.2 before the
amendment:

Before Amendment

(5) That the Extra Ordinary Shareholders Meeting No. 1/2005
should consider the following:

(5.1) To certify the Minutes of the Ordinary General Meeting of
Shareholder No. 1/2004 held on 27 April 2004.

Board of directors' Opinion:

Board of directors considers that it is appropriate for the
Meeting to certify the said minutes.

(5.2) To consider and approve the expansion and the appointment
of Ms. Shirley Alice C. Chan as director and Vice Chairman No. 3
of the Board of Directors of the Company and Mr. Carlos Q.
Barquero, Mr. Yoshio Shiina and Mr. K. H. Kang as directors of
the Board of Directors of the Company.

Board of directors' Opinion:

Board of directors to re-consider this agenda at a future
meeting to be held prior to the said Extra Ordinary Shareholders
Meeting.

(5.3) To consider and approve the Amendment to Article 3 of the
Articles of Association of the Company as:

"Article 3: The shares of the Company shall be ordinary shares
and shall be fully paid in money.  The Company is unable to
issue the share certificate entered to the bearer.

The Company may issue debentures or convertible debentures or
preferred shares and other securities in accordance with
Securities and Exchange Law and offer such securities to the
public or any person and the Company's shareholders.  Preference
shares or convertible debentures may be converted to ordinary
shares under the relevant laws.

Shares of the Company shall be freely transferable except the
transfer of shares resulting in the foreign shareholding ratio
exceeding 80 percent of total issued shares of the Company.

The Company is prohibited from owning or accepting pledge of its
own shares."

Board of directors' Opinion:

Following the Tender Offer of Del Monte Fresh Produce (Thailand)
Inc., the Board of director consider that it is appropriate for
the Meeting to approve the said Amendment to Article 3 of the
Articles of Association that will expand the foreign
shareholding ratio from 51 percent to 80 percent of the total
issued shares and delete the condition of the current foreign
shareholding limitation which is up to 80 percent of the total
issued share from the exercising of the right of warrants.

(5.4) To transact such other business as may be transacted at
the Extra Ordinary Shareholder's Meeting.."

After Amendment

"(5) That the Extra Ordinary Shareholders Meeting No. 1/2005 to
consider the following:

(5.1) To certify the Minutes of the Ordinary General Meeting of
Shareholder No. 1/2004 held on 27 April 2004

Board of directors' Opinion:

Board of directors considers that it is appropriate for the
Meeting to certify the said minutes.

(5.2) To consider and approve the Amendment to Article 3 of the
Articles of Association of the Company as follows:

"Article 3: The shares of the Company shall be ordinary shares
and shall be fully paid in money.  The Company is unable to
issue the share certificate entered to the bearer.

The Company may issue debentures or convertible debentures or
preferred shares and other securities in accordance with
Securities and Exchange Law and offer such securities to the
public or any person and the Company's shareholders.  Preference
shares or convertible debentures may be converted to ordinary
shares under the relevant laws.

Shares of the Company shall be freely transferable except the
transfer of shares resulting in the foreign shareholding ratio
exceeding 80 percent of total issued shares of the Company.

The Company is prohibited from owning or accepting pledge of its
own shares."

Board of directors' Opinion:

Following the Tender Offer of Del Monte Fresh Produce (Thailand)
Inc., the Board of director consider that it is appropriate for
the Meeting to approve the said Amendment to Article 3 of the
Articles of Association that will expand the foreign
shareholding ratio from 51 percent to 80 percent of the total
issued shares and delete the condition of the current foreign
shareholding limitation which is up to 80 percent of total
issued share from the exercising of the right of warrants.

(5.3) To transact such other business as may be transacted at
the Extra Ordinary Shareholder's Meeting.."

(2) The Company has agreed to the proposals by the Company's
major creditor in jointly filing a rehabilitation program for
the Company.

CONTACT:

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




BOND PRICING: For the Week 10 January to 14 January 2005
--------------------------------------------------------

Issuer                            Coupon   Maturity  Price
------                            ------   --------  -----


AUSTRALIA
---------

Ainsworth Game                        8.000%    12/31/09    1
Amcom Telecommunications Ltd         10.000%    10/28/07    2
APN News & Media Ltd                  7.250%    10/31/08    5
A&R Whitcoulls Group                  9.500%    12/15/10    8
BIL Finance Ltd                       8.000%    10/15/07    9
BIL Finance Ltd                       8.750%    10/15/05    9
BIL Finance Ltd                       9.250%    10/15/06    9
Capital Properties NZ Ltd             8.500%     4/15/05    8
Capital Properties NZ Ltd             8.500%     4/15/07    8
Capital Properties NZ Ltd             8.500%     4/15/09    8
CBH Resources                         9.500%    12/16/09    1
Citigold Corp.                       12.000%     3/29/07    1
Consolidated Minerals Ltd            11.250%     3/31/05    2
Djerriwarrh Investments Ltd           6.500%     9/30/09    4
Evans & Tate Ltd                      8.250%    10/29/07    1
Fletcher Building Ltd                 7.800%     3/15/09    8
Fletcher Building Ltd                 7.900%    10/31/06    8
Fletcher Building Ltd                 8.300%    10/31/06    8
Fletcher Building Ltd                 8.600%     3/15/08    8
Fletcher Building Ltd                 8.750%     3/15/06    7
Fletcher Building Ltd                 8.850%     3/15/10    8
Fletcher Building Ltd                10.500%     4/30/05    7
Fernz Corp Ltd                        8.560%    10/15/06    8
Futuris Corporation Ltd               7.000%    12/31/07    2
Gympie Gold Ltd.                      8.500%     9/30/07    1
Hy-Fi Securities Ltd                  7.000%     8/15/08    8
Hy-Fi Securities Ltd                  8.750%     8/15/08   11
Hutchison Telecoms Australia          5.500%     7/12/07    1
Infrastructure and Utility            8.500%     9/15/13    8
Nuplex Industries Ltd                 9.300%     9/15/07    8
Pacific Print Group Ltd.             10.250%    10/15/09   10
Powerco Ltd                           8.150%     9/01/07    7
Prime Life Corp.                      9.500%     12/8/06    1
Salomon SB Australia                  4.250%     2/01/09    8
Sapphire Securities                   9.160%     9/20/35    9
Sherlock Bay Nickel                  12.000%      9/1/07    1
Sky Network Television Ltd            9.300%    10/29/49    7
Software of Excellence                7.000%     8/09/07    2
Strathfield Group                    11.000%    12/31/05    1
Structural Systems Ltd               11.000%     6/30/07    1
Sydney Gas Company                   12.000%     4/1/06     1
Tower Finance Ltd                     8.650%    10/15/09    8
Tower Finance Ltd                     8.750%    10/15/07    8
TrustPower Ltd                        8.300%     9/15/07    8
TrustPower Ltd                        8.500%     9/15/12    8
TrustPower Ltd                        8.500%     3/15/14    8
Urbus Properties Ltd                  9.250%     3/10/07    1
Vision Systems Ltd                    9.000%    12/15/08    2


CHINA
-----

China Government Bond                  2.900%    5/24/32    68


KOREA
-----

Korea Electric Power Corporation       7.950%       4/1/96   70


MALAYSIA
--------

Asian Pac Holdings Bhd                 4.000%     12/22/05    1
Artwright Holdings Bhd                 5.500%      3/05/07    1
Berjaya Group Bhd                      5.000%     10/17/09    1
Berjaya Land Bhd                       5.000%     12/30/09    1
Berjaya Sports Toto Bhd                8.000%      8/04/12    4
Camerlin Group Bhd                     5.500%      7/15/07    1
Crescendo Corporation Bhd              3.000%      8/25/07    1
Crest Builder                          3.000%      2/25/06    2
Dataprep Holdings Bhd                  4.000%       8/5/05    1
Dataprep Holdings Bhd                  4.000%       8/6/07    1
Eden Enterprises (M) Bhd               2.500%      12/2/07    1
Fountain View Development Sdn Bhd      3.500%      11/3/06    5
Furqan Business Organization           2.000%     12/19/05    1
Gadang Holdings Bhd                    2.000%     12/24/08    1
Grand Central Enterprises Bhd          5.000%      2/17/05    1
Greatpac Holdings Bhd                  2.000%     12/11/08    1
Gula Perak Bhd                         6.000%      4/23/08    1
Hong Leong Industries Bhd              4.000%      6/28/07    1
I-Bhd                                  5.000%      4/30/07    1
Insas Bhd                              8.000%      4/19/09    1
Integrax Bhd                           3.000%     12/24/05    1
Killinghall Bhd                        5.000%      4/13/09    1
Kretam Holdings Bhd                    1.000%      8/10/10    1
Kumpulan Jetson                        5.000%     11/28/12    1
LBS Bina Group Bhd                     4.000%     12/31/06    1
LBS Bina Group Bhd                     4.000%     12/31/07    1
LBS Bina Group Bhd                     4.000%     12/31/08    1
Lebar Daun Bhd                         2.000%       1/6/07    6
Lion Diversified Holdings Bhd          2.000%       6/1/09    1
Media Prima Bhd                        2.000%      7/18/08    1
Mithril Bhd                            3.000%       4/5/12    1
Mithril Bhd                            8.000%       4/5/09    1
Mutiara Goodyear Development Bhd       2.500%      1/15/07    1
Naim Indah Corp.                       0.500%      8/24/06    1
NAM Fatt Corporation Bhd               2.000%      6/24/11    1
Orlando Holdings Bhd                   3.000%      3/16/05    1
OSK Holdings Bhd                       3.500%       3/1/05    1
OSK Holdings Bhd                       6.000%       3/1/05    1
Patimas Computer Bhd                   6.000%      2/19/06    1
Poh Kong Holdings                      3.000%      1/20/07    1
Prinsiptek Corporation Bhd             2.000%     11/20/06    1
Puncak Niaga Holdings Bhd              2.500%     11/20/16    1
Rashid Hussain Bhd                     0.500%     12/23/12    1
Rashid Hussain Bhd                     1.500%     6/30/07    75
Rashid Hussain Bhd                     3.000%     12/23/12    1
Rhythm Consolidated Bhd                5.000%     12/17/08    1
Silver Bird Group Bhd                  1.000%      2/15/09    1
Southern Steel Bhd                     5.500%      7/31/08    2
Tanah Emas Corporation Bhd             2.000%      12/9/06    1
Talam Corporation Bhd                  7.000%      7/19/05    1
Talam Corporation Bhd                  7.000%      4/19/06    1
Tap Resources Bhd                      2.000%      6/29/06    1
Tenaga Nasional Bhd                    3.050%      5/10/09    1
Time Engineering Bhd                   2.000%     12/25/05    1
VTI Vintage Bhd                        4.000%      8/22/06    1
WCT Land Bhd                           3.000%      8/02/09    1
Wah Seong Corp                         3.000%      5/21/12    3


SINGAPORE
---------

CSC Holdings Ltd                       6.500%      4/27/05    1
Rabobank Singapore                     1.000%      1/15/13   74
Sengkang Mall                          8.000%     11/20/12    1
Tampines Assets Ltd                    5.625%      12/7/06    1
Tincel Ltd                             5.000%      6/13/11    1
Tincel Ltd                             7.400%      6/13/11    1











                            *********


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

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

Copyright 2005.  All rights reserved.  ISSN: 1520-9482.

This material is copyrighted and any commercial use, resale or
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                 *** End of Transmission ***