TCRAP_Public/050207.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

             Monday, February 7, 2005, Vol. 8, No. 26

                            Headlines

A U S T R A L I A

B.B.S. FINANCIAL: Members General Meeting Slated for February 21
BENDIGO CAPITAL: General Meeting Set February 21
BONFAME PTY: Members to Meet February 17
CABLE & WIRELESS: Members Pass Resolution to Wind Up Company
COLPER PTY: Sets February 11 as Date of Final Meeting

FAMIT PTY: Creditors' Claims Due February 14
F.P. HOLDINGS: To Hear Liquidator's Report During Meeting
HARRIS SCARFE: Former Chairman Pleads Not Guilty
HENRY WALKER: Union Strives to Protect Jobs
HOGER DEVELOPMENTS: To Declare Final Dividend February 14

IMAC SUPPORT: Liquidator to Explain Manner of Winding Up
JPR MANAGEMENT: Lays Out Agenda for Combined Meeting
K.W. LEE: Appoints Liquidators to Wind Up Company
LINCRAFT: Plunges Into Receivership with AU$10-Mln Debt
N.B. & L.: Receiving Proofs Of Claims Until February 14

N.B.S. HOLDINGS: To Convene General Meeting February 21
NATIONAL AUSTRALIA: Establishes Utility for Cheque Processing
NIXCOM INVESTMENTS: Creditors Should Prove Claims by February 7
ORMADALE INVESTMENTS: Lays Out Agenda for Final Meeting
PHELAN GROUP: To Declare Final Dividend February 11

ROBERT G CLARKE: Members Agree to Wind Up Company
S.L. TANG: To Undergo Voluntary Winding Up Process
SPANFURKEL PTY: To Declare Dividend February 14
TARLOMEENE PTY: Sets Final Meeting on February 17


C H I N A  &  H O N G  K O N G

ASIA UNION: Court to Hear Winding Up Petition on March 2
DIAMOND LINK: Creditors to Prove Debt by February 18
FOOK KIN: Receiving Proofs of Debt Until February 18
FORDIT LIMITED: Creditors Meeting Set February 22
HEALTH FAMILY: Members, Creditors Meetings Fixed March 4

LIGHT FAIR: Court Issues Winding Up Order
MARGAUX FINANCE: Enters Bankruptcy Proceedings
SEAPOWER CONSORTIUM: Creditors to Meet February 22
SHEEN FAITH: Creditors Meeting Slated for February 5
SPREAD VANTAGE: Receives Winding Up Order

TELHOPE INFORMATION: Appoints Joint and Several Liquidators
YIEN YIEH: Creditors to Submit Proofs of Debt by March 7


I N D O N E S I A

PERUSAHAAN LISTRIK: In Talks with New Gas Supplier


J A P A N

FUJITSU LIMITED: To Use Biodegradable Materials for Products
HAJIME SEKKEI: Begins Bankruptcy Proceedings
JAPAN AIRLINES: To Add 30 Boeing 737s to Fleet
JAPAN AIRLINES: To Merge with Holding Firm by March 2007
KAWASAKI HEAVY: METI Approves Business Restructuring Plan

K.K. MANDEN: Enters Bankruptcy
MILLENNIUM RETAILING: METI OKs Changes to Restructuring Scheme
UFJ HOLDINGS: SMFG Says it Will Pursue Merger Bid
UFJ HOLDINGS: Creation of World's Top Bank Nears


K O R E A

KOOKMIN BANK: Turns Around with Net Profit of KRW555 Bln
KOOKMIN BANK: Early Retirement Offer Lures the Wrong People
LG CARD: Creditors Must be Given First Priority in Takeover
THRUNET COMPANY:  Hanaro Slashes Takeover Price by 5%


M A L A Y S I A

ANTAH HOLDINGS: Bourse Halts Trading of Shares
BUKIT KATIL: Still Mapping Out Restructuring Plan
CONSOLIDATED FARMS: Seeks to Regularize Financial Condition
INNOVEST BERHAD: Awaits Approval of Restructuring Scheme
JIN LIN: SC Reviews Rehab Scheme for FIC

KEMAYAN CORPORATION: Seeks to Obtain Creditors' Approval
KILANG PAPAN: Aims to Secure OK on Revised Restructuring Scheme
K.P. KENINGAU: Forming Strategy to Stabilize Finances
MENTIGA CORPORATION: To Present Proposals to SEC by End-February
OCEAN CAPITAL: Searching for Potential White Knight

OLYMPIA INDUSTRIES: Application on Extension Awaits SC Approval
OMEGA HOLDINGS: Sees No Development in Regularization Plan
PANGLOBAL BERHAD: Issues Monthly Status Update
PARK MAY: Seeks Extension on Proposed Restructuring Scheme
TRU-TECH HOLDINGS: Aims to Regularize Financial Status

UNITED CHEMICAL: Restructuring Scheme Subject to Bursa Clearance


P H I L I P P I N E S

COLLEGE ASSURANCE: PICPA Contests Stand on Liabilities
COLLEGE ASSURANCE: SEC OKs Move to Secure US$300-Mln Loan
FILHOMES SAVINGS: PDIC Services Claims for Insured Depositors
NATIONAL POWER: Bidder Needs US$440 Mln to Buy Four Power Plants
MANILA ELECTRIC: Broadcast Firm Opposes Refund Scheme


S I N G A P O R E

APEX INTERNATIONAL: Receives Winding Up Order
CHINA AVIATION (S): Japanese Firm Files Legal Action
CHINA AVIATION (S): Unit Seals Jet Fuel Bid for March, April
DORTECHNIC PRIVATE: Posts Notice Of Preferential Dividend
KEISO GIKEN: Issues Intended Dividend Notice

MISNET SINGAPORE: To Declare First & Final Preferential Dividend


T H A I L A N D

PACIFIC ASSETS: Releases Additional Info on Meeting Resolution
TONGKAH HARBOUR: SET Halts Trading of Securities
TONGKAH HARBOUR: Proposes Capital Increase

     -  -  -  -  -  -  -  -

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


B.B.S. FINANCIAL: Members General Meeting Slated for February 21
----------------------------------------------------------------
Notice is given that a general meeting of members of B.B.S.
Financial Planners Pty Ltd (In Liquidation) will be held at the
offices of AFS & Associates Pty Ltd, Chartered Accountants, 61
Bull Street, Bendigo 3550 on February 21, 2005 at 1:30 p.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 23rd day of December 2004

D.C. Hutchings
Liquidator
AFS & Associates Pty Ltd
61 Bull Street, Bendigo 3550


BENDIGO CAPITAL: General Meeting Set February 21
------------------------------------------------
Notice is given that a general meeting of members of Bendigo
Capital Markets Pty Ltd (In Liquidation) will be held at the
offices of AFS & Associates Pty Ltd, Chartered Accountants, 61
Bull Street, Bendigo 3550 on February 21, 2005 at 12:00 noon.

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 23rd day of December 2004

D. C. Hutchings
Liquidator
AFS & Associates Pty Ltd
61 Bull Street, Bendigo 3550


BONFAME PTY: Members to Meet February 17
----------------------------------------
Notice is given that pursuant to Section 509(1) of the
Corporations Law, a final meeting of members of Bonfame Pty Ltd
(In Liquidation) A.C.N. 069 169 375 will be held in the Meeting
Room, Members Voluntarys Pty Ltd 1st Floor, 10 Park Road,
Cheltenham on February 17, 2005 at 1:00 p.m.

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

Dated this 22nd day of December 2004

Richard Judson
Liquidator
Members Voluntarys Pty Ltd
1st Floor, 10 Park Road,
Cheltenham 3192


CABLE & WIRELESS: Members Pass Resolution to Wind Up Company
------------------------------------------------------------
At a general meeting of the members of Cable & Wireless Pty
Limited (In Liquidation) A.C.N. 000 125 780 held at 3 Spring
Street, Sydney NSW 2000 on December 29, 2004 a special
resolution that the Company be wound up voluntarily was passed.

David Clement Pratt
Timothy James Cuming
Liquidator
Level 15, 201 Sussex Street,
Sydney NSW 1171


COLPER PTY: Sets February 11 as Date of Final Meeting
-----------------------------------------------------
Notice is hereby given pursuant to Section 509 of the
Corporations Act that the Final Meeting of Members of Colper Pty
Ltd (Members' Voluntary Liquidation) A.C.N. 004 386 681 will be
held at the offices of WHK Smith Read, Level 3, 293 Camberwell
Road, Camberwell Vic 3124 on Friday, February 11, 2005 at 11:00
a.m. for the purposes of showing the manner in which the winding
up has been conducted and the property of the Company disposed
and hearing any explanations that may be given by the
liquidator.

Dated this 20th day of December 2004

A. Thomas Fernandez
Liquidator
Fernandez Partners
Chartered Accountants
PO Box 711, Glen Waverley 3150
Telephone: (03) 9886 1200
Facsimile: (03) 9803 6465


FAMIT PTY: Creditors' Claims Due February 14
--------------------------------------------
A first and final dividend is to be declared on February 14,
2005 for Famit Pty Ltd A.C.N. 005 077 181 (In Liquidation).

Creditors whose debts or claims have not already been admitted
are required on or before February 14, 2005 formally to prove
their debts or claims. If they do not, they will be excluded
from the benefit of the dividend.

Dated this 22nd day of December 2004

Richard Judson
Liquidator
Members Voluntarys Pty Ltd
1st Floor, 10 Park Road,
Cheltenham 3192


F.P. HOLDINGS: To Hear Liquidator's Report During Meeting
---------------------------------------------------------
Notice is given that a general meeting of members of F.P.
Holdings (Building Society) Limited (In Liquidation) will be
held at the offices of AFS & Associates Pty Ltd, Chartered
Accountants, 61 Bull Street, Bendigo 3550 on February 21, 2005
at 11:30 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 23rd day of December 2004

D. C. Hutchings
Liquidator
AFS & Associates Pty Ltd
61 Bull Street, Bendigo 3550


HARRIS SCARFE: Former Chairman Pleads Not Guilty
------------------------------------------------
The former chairman of Harris Scarfe has on Monday has pleaded
not guilty to a string of dishonesty offences related to the
retailer's downfall, says the Australian Associated Press.

Adam Trescowthick has entered the plea on Jan. 31 before the
South Australian District Court. Mr. Trescowthick is facing 26
charges including multiple counts of failing to act honestly as
officer of a Company, failing to discharge his duties in good
faith and giving out false information.

During a committal hearing in the Adelaide Magistrates Court
last year prosecutors alleged Trescowthick instructed Harris
Scarfe's chief financial officer Alan Hodgson to falsely inflate
profits by about AU$36 million between 1998 and 2000.

Harris Scarfe was placed into voluntary administration in April
2001, owing AU$93 million to unsecured creditors and AU$50
million in Company debt.

A management buyout of the Company's assets in November 2001
secured the future of the retailer's 23 stores in South
Australia, Victoria and Tasmania as well as the jobs of 1700
employees.

CONTACT:

Harris Scarfe Holdings Limited
81 Rundle Mall
Adelaide, Southern Australia 5000
Australia
Phone: +61 8 8203 4444
Fax: +61 8 8223


HENRY WALKER: Union Strives to Protect Jobs
-------------------------------------------
A major union is working to protect hundreds of its members who
are working at failed Henry Walker Eltin, says the Australian
Associated Press.

The Australian Workers' Union (AWU) is stepping up efforts to
ensure that everything possible is done to save the jobs and
protect entitlements of employees at Henry Walker, which fell
into administration early last week.

AWU declared it would represent hundreds of AWU members at the
first creditors meeting scheduled this week. The union,
likewise, offered to represent workers hired on non-union
individual contracts or Australian Workplace Agreements.

The AWU has about 300 members at HWE mining operations in South
Australia, Western Australia, Victoria and Queensland.

Henry Walker, which has around 4,000 employees in Australia, has
appointed Anthony McGrath, Scott Kershaw, Joseph Hayes and Shaun
Fraser of McGrath Nicol & Partners as voluntary administrators,
after the original administrators, John Gibbons, Jack Crumlin
and Keiran Hutchison of Ernst & Young resigned the day after
they were hired.

The Company called in an administrator after Glencore Finance AG
withdrew an AU$100 million recapitalization plan. The Company's
shares have been suspended from trading.

CONTACT:

Henry Walker Eltin Group Limited
33 Paul Street North
North Ryde, New South Wales 2113
Australia
Phone: +61 02 9887 6400
Fax: +61 02 9805 0945
Web site: http://www.hwe.com.au/


HOGER DEVELOPMENTS: To Declare Final Dividend February 14
---------------------------------------------------------
A first and final dividend is to be declared on February 14,
2005 for Hoger Developments Pty Ltd A.C.N. 105 663 367 (In
Liquidation).

Creditors whose debts or claims have not already been admitted
are required on or before February 14, 2005 formally to prove
their debts or claims. If they do not, they will be excluded
from the benefit of the dividend.

Dated this 22nd day of December 2004

Richard Judson
Liquidator
Members Voluntarys Pty Ltd
1st Floor, 10 Park Road,
Cheltenham 3192


IMAC SUPPORT: Liquidator to Explain Manner of Winding Up
--------------------------------------------------------
Notice is given that pursuant to Section 509 of the Corporations
Act, a general meeting of the members of IMAC Support Services
Pty Ltd (In Voluntary Liquidation) A.C.N. 011 022 398 will be
held at the offices of Horwath Jefferson Stevenson, Level 4, 370
Queen Street, Brisbane Qld 4000, on February 15, 2005, at 10:00
a.m. for the purposes 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
explanations that may be given by the Liquidators.

Dated this 15th day of December 2004

Matthew L. Joiner
Liquidator
c/- Horwath Jefferson Stevenson
Level 4, 370 Queen Street,
Brisbane Qld 4000


JPR MANAGEMENT: Lays Out Agenda for Combined Meeting
----------------------------------------------------
Notice is hereby given that a final combined meeting of the
members and creditors of JPR Management Pty Ltd (In Liquidation)
A.C.N. 085 334 309 will be held at the offices of Knights
Insolvency Administration, 14th Floor, Brisbane Club Tower, 241
Adelaide Street, Brisbane Qld 4001 on Friday, February 21, 2005
at 3:00 p.m.

AGENDA

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

(2) Any other business.

Dated this 20th day of December 2004

Jonathan Mcleod
Joint and Several Liquidator


K.W. LEE: Appoints Liquidators to Wind Up Company
-------------------------------------------------
Notice is hereby given that at general meetings of the members
of K.W. Lee & Co. Pty. Limited A.C.N. 050 028 656 (Voluntary
Winding Up By Members) held on November 30, 2004, it was
resolved that the Company be wound up voluntarily by the members
and that, Richard Herbert Judson of Members Voluntarys Pty Ltd
be appointed liquidator.

Dated this 30th day of November 2004

Richard Judson
Members Voluntarys Pty. Ltd.
PO Box 819, Moorabbin Vic 3189


LINCRAFT: Plunges Into Receivership with AU$10-Mln Debt
-------------------------------------------------------
One of the country's oldest fabric chains, Lincraft, has been
placed under receivership last week with debt of around AU$10
million, relates the Australian Financial Review.

The fabric, haberdashery and craft retailer has collapsed after
a four-year rescue scheme failed to keep the Company afloat.

ANZ Bank, Lincraft's biggest shareholder and believed to be owed
around AU$10 million, has appointed Mark Mentha and Craig
Shepard from KordaMentha as receivers and managers for the
Company.

Lincraft, which employs more than 1000 staff across Australia,
operates 39 stores around Australia and generates annual sales
of around AU$100 million.

KordaMentha is hoping to sell the business as a going concern.

CONTACT:

Lincraft
http://www.lincraft.com.au/


N.B. & L.: Receiving Proofs Of Claims Until February 14
-------------------------------------------------------
A first and final dividend is to be declared on February 14,
2005 for N. B. & L. Pty Ltd A.C.N. 009 850 248 (In Liquidation).

Creditors whose debts or claims have not already been admitted
are required on or before February 14, 2005 formally to prove
their debts or claims. If they do not, they will be excluded
from the benefit of the dividend.

Dated this 22nd day of December 2004

Richard Judson
Liquidator
Members Voluntarys Pty Ltd
1st Floor, 10 Park Road, Cheltenham 3192


N.B.S. HOLDINGS: To Convene General Meeting February 21
-------------------------------------------------------
Notice is given that a general meeting of members of N.B.S.
Holdings (Building Society) Limited (In Liquidation) will be
held at the offices of AFS & Associates Pty Ltd, Chartered
Accountants, 61 Bull Street, Bendigo 3550 on February 21, 2005
at 11:00 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 23rd day of December 2004

D. C. Hutchings
Liquidator
AFS & Associates Pty Ltd
61 Bull Street, Bendigo 3550


NATIONAL AUSTRALIA: Establishes Utility for Cheque Processing
-------------------------------------------------------------
National Australia Bank, Westpac Banking Corporation and the
Commonwealth Bank announced that they have awarded a contract to
Fiserv to provide cheque-processing services for the three banks
from April 2005.  The contract is worth in excess of AUD$600m
over a term of 12 years. Fiserv will supply Day One cheque
processing and image archive services to the banks.

In addition to providing technology improvements, the contract
with Fiserv is expected to deliver scale and efficiency benefits
in the face of declining cheque volumes.

Regional General Manager of Operations, Mark Steyn, said "with
volumes in Australia declining at about 5% per annum, the
National faced the need to reinvest in cheque processing
capabilities in a declining market.  By entering into the
utility we have been able to avoid the cost of that investment
whilst ensuring that all our staff have been offered jobs and
that our high customer service levels are maintained."

All existing bank employees that work in the cheque processing
areas will be offered positions with Fiserv, on at least similar
terms and conditions to those that they are currently employed
under.

About Fiserv

Fiserv, Inc. (Nasdaq: FISV) provides information management
systems and services to the financial industry, including
transaction processing, outsourcing, business process
outsourcing and software and systems solutions.  The Company
serves more than 15,000 clients worldwide, including banks,
credit unions, financial planners/investment advisers, insurance
companies and agents, self-funded employers, lenders and savings
institutions.  Headquartered in Brookfield, Wis., Fiserv
reported US$3.4 billion in processing and services revenues for
2004.  Fiserv can be found on the Internet at www.fiserv.com.

CONTACT:

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


NIXCOM INVESTMENTS: Creditors Should Prove Claims by February 7
---------------------------------------------------------------
A first and final dividend is to be declared on February 14,
2005 for Nixcom Investments Pty Ltd A.C.N. 085 335 888 (In
Liquidation).

Creditors whose debts or claims have not already been admitted
are required on or before February 14, 2005 formally to prove
their debts or claims. If they do not, they will be excluded
from the benefit of the dividend.

Dated this 22nd day of December 2004

Richard Judson
Liquidator
Members Voluntarys Pty Ltd
1st Floor, 10 Park Road,
Cheltenham 3192


ORMADALE INVESTMENTS: Lays Out Agenda for Final Meeting
-------------------------------------------------------
Notice is hereby given that a final meeting of the members of
Ormadale Investments Pty Ltd (In Voluntary Liquidation) A.C.N.
009 821 023 will be held at the offices of SV Partners, Level
16, 120 Edward Street, Brisbane Qld 4000 on February 8, 2005 at
10:00 a.m.

AGENDA

(1) Receive a report by the Liquidators on how the winding up of
the Company has been conducted and the property of the Company
has been disposed of.

(2) General business.

Dated this 15th day of December 2004

Paul D. Sweeney
Terry G. Van Der Velde
Liquidators
c/- SV Partners
Level 16, 120 Edward Street,
Brisbane Qld 4000


PHELAN GROUP: To Declare Final Dividend February 11
---------------------------------------------------
A first and final dividend is to be declared on February 11,
2005 for The Phelan Group Pty Ltd A.C.N. 074 526 471 A.B.N. 49
074 526 471.

Creditors who were not able to formally prove their debt or
claims will be excluded from the benefit of the dividend.

Dated this 15th day of December 2004

M. G. Mccann
Liquidator
Grant Thornton
Grant Thornton House, Level 4,
102 Adelaide Street,
Brisbane Qld 4000


ROBERT G CLARKE: Members Agree to Wind Up Company
-------------------------------------------------
Notice is hereby given that at a general meeting of the members
of Robert G Clarke Pty Ltd A.C.N. 001 238 875 (Voluntary Winding
Up By Members) held on November 30, 2004, it was resolved that
the Company be wound up voluntarily by the members and that,
Richard Herbert Judson of Members Voluntarys Pty Ltd be
appointed liquidator.

Dated this 30th day of November 2004

Richard Judson
Members Voluntarys Pty. Ltd.
PO Box 819, Moorabbin Vic 3189


S.L. TANG: To Undergo Voluntary Winding Up Process
--------------------------------------------------
Notice is hereby given that at general meetings of the members
of S.L. Tang Holdings Pty. Limited A.C.N. 050 028 647 (Voluntary
Winding Up By Members) held on November 30, 2004, it was
resolved that the Company be wound up voluntarily by the members
and that, Richard Herbert Judson of Members Voluntarys Pty Ltd
be appointed liquidator.

Dated this 30th day of November 2004

Richard Judson
Members Voluntarys Pty. Ltd.
PO Box 819, Moorabbin Vic 3189


SPANFURKEL PTY: To Declare Dividend February 14
-----------------------------------------------
A first and final dividend is to be declared on February 14,
2005 for Spanfurkel Pty Ltd A.C.N. 086 525 153 (In Liquidation).

Creditors whose debts or claims have not already been admitted
are required on or before February 14, 2005 formally to prove
their debts or claims. If they do not, they will be excluded
from the benefit of the dividend.

Dated this 22nd day of December 2004

Richard Judson
Liquidator
Members Voluntarys Pty Ltd
1st Floor, 10 Park Road,
Cheltenham 3192


TARLOMEENE PTY: Sets Final Meeting on February 17
-------------------------------------------------
Notice is given that pursuant to Section 509(1) of the
Corporations Law, a final meeting of members for each of
Tarlomeene Pty Ltd A.C.N. 007 785 506 (In Liquidation) will be
held in the Meeting Room, Members Voluntarys Pty Ltd 1st Floor,
10 Park Road, Cheltenham on February 17, 2005 at 10:30 a.m.

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

Dated this 22nd day of December 2004

Richard Judson
Liquidator
Members Voluntarys Pty Ltd
1st Floor, 10 Park Road, Cheltenham 3192


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


ASIA UNION: Court to Hear Winding Up Petition on March 2
--------------------------------------------------------
Notice is hereby given that a Petition for the winding up of
Asia Union Survey Services Limited by the High Court of Hong
Kong was on Dec. 8, 2004 presented to the said Court by John
Edward Haworth of Flat A, 1st Floor, 66C Peak Road, Cheung Chau,
Hong Kong.

The said Petition will be heard before the Court at 9:30 a.m. on
Mar. 2, 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.

Tsui & Co.
Solicitors for the Petitioner
Unit F, 7/Floor
Neich Tower
128 Gloucester Road
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 Mar. 1, 2005.

This notice is dated Feb. 3, 2005.


DIAMOND LINK: Creditors to Prove Debt by February 18
----------------------------------------------------
Notice is hereby given that the Creditors of Diamond Link
Holdings Limited, whose debt or claims have not already been
admitted, are required on or before Feb. 18, 2005 to prove their
debt or claims by sending in their names, addresses and
descriptions and full particulars of their debt or claims to the
Liquidators of the Company.

If so required by notice in writing from the Liquidators, the
creditors of the Company must personally or by their Solicitors
or duly authorized Representative, prove their said debts or
claims and establish any title they may have to priority at such
time and place as shall be specified in such notice.

In default of complying with this Notice, creditors will be
excluded from the benefit of any distribution made before their
debts or claims are proved and from objecting to any
distribution made before their priorities are established.

William Nicholas Giles
Joint and Several Liquidator
16/F On Hing Building
1 On Hing Terrace
Central, Hong Kong

This Quamnet notice is dated Jan. 28, 2005.


FOOK KIN: Receiving Proofs of Debt Until February 18
----------------------------------------------------
Fook Kin Enterprises Company Limited with liquidators Messrs.
Tan Man Kou and Dermot Agnew of 126th Floor, Wing On Centre 111
Connaught Road Central, Hong Kong has set Feb. 18, 2005 as the
last day for receiving proofs.

Tan Man Kou
Dermot Agnew
Joint & Several Liquidators

This notice is dated Jan. 28, 2005.


FORDIT LIMITED: Creditors Meeting Set February 22
-------------------------------------------------
Notice is hereby given that, pursuant to section 241 of the Hong
Kong Companies Ordinance, a Meeting of Creditors of Fordit
Limited will be held at 5/F, Allied Kajima Building, 138
Gloucester Road, Wanchai, Hong Kong on Feb. 22, 2005
respectively at 11:30 a.m. for the purpose of considering and,
if thought fit, approving the voluntary winding up of the
Company and the appointment of Joint and Several Liquidators of
the Company and considering further matters in relation to
sections 241, 242, 243, 244, 251, 255A(2) and 283 of the
Companies Ordinance.

Creditors may vote either in person or by proxy.

Proxies must be lodged at 7th Floor, Allied Kajima Building, 138
Gloucester Road, Wanchai, Hong Kong not later than 4:00 p.m. on
Feb. 21, 2005.

Cosimo Borrelli
Director
Fordit Limited

This Quamnet notice is dated Jan. 28, 2005.


HEALTH FAMILY: Members, Creditors Meetings Fixed March 4
--------------------------------------------------------
Notice is hereby given that pursuant to Section 247 of the
Companies Ordinance, an Annual General Meetings of the members
of Health Family International Company Limited will be held at
Rooms. 2005-7, Bank Centre, 636 Nathan Road, Kowloon, Hong Kong
at 10:00 a.m. on March 4, 2005.

It will be followed by a meeting of the creditors of the Company
to be held at the same place at 10:30 a.m. respectively for the
purpose in each case, of having an account laid before the
meeting by liquidators an accounts of their acts and dealings
and of the conduct of the winding-up during the year ended Jan.
26, 2005.

Lee Sik Wai Benjamin
Liquidator

This notice is dated Jan. 21, 2005.


LIGHT FAIR: Court Issues Winding Up Order
-----------------------------------------
Light Fair Limited of Rm. 117, Hollywood Plaza, 610 Nathan Rd,
Mongkok Klm, has received a winding up order from the High Court
on Jan. 19, 2005.

The winding-up petition was presented on Dec. 1, 2004.

E T O'CONNELL
Official Receiver

This The Standard notice is dated Jan. 28, 2005.


MARGAUX FINANCE: Enters Bankruptcy Proceedings
----------------------------------------------
Notice is hereby given that a Petition for the winding up of
Margaux Finance Limited by the High Court of Hong Kong Special
Administrative Region was on Jan. 6, 2005 presented to the said
Court by Messrs. Tsang Chau and Shuen.

The said Petition will be heard before the Court at 9:30 a.m. on
Mar. 9, 2005.

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

Messrs. Tsang Chau And Shuen
Solicitors for the Petitioner
8th Floor, Chuang's Tower
30-32 Connaught Road Central
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 Mar. 8, 2005.


SEAPOWER CONSORTIUM: Creditors to Meet February 22
--------------------------------------------------
Notice is hereby given that, pursuant to section 241 of the Hong
Kong Companies Ordinance, a Meeting of Creditors of Seapower
Consortium Company Limited will be held at 5/F, Allied Kajima
Building, 138 Gloucester Road, Wanchai, Hong Kong on Feb. 22,
2005 respectively at 10:00 a.m. for the purpose of considering
and, if thought fit, approving the voluntary winding up of the
Company and the appointment of Joint and Several Liquidators of
the Company and considering further matters in relation to
sections 241, 242, 243, 244, 251, 255A(2) and 283 of the
Companies Ordinance.

Creditors may vote either in person or by proxy.

Proxies must be lodged at 7th Floor, Allied Kajima Building, 138
Gloucester Road, Wanchai, Hong Kong not later than 4:00 p.m. on
Feb. 21, 2005.

Cosimo Borrelli
Director
Seapower Consortium Company Limited

This Quamnet notice is dated Jan. 28, 2005.


SHEEN FAITH: Creditors Meeting Slated for February 5
----------------------------------------------------
Notice is hereby given that pursuant to Section 241 of the
Companies Ordinance, that a meeting of the creditors of Sheen
Faith Enterprises Limited will be held at Room 209, 2nd Floor,
Duke of Windsor Social Service Building, 15 Hennessy Road, Hong
Kong on Feb. 5, 2005 at 10:30 a.m. for the purposes provided for
in Sections 241, 242, 243, 244 of the Companies Ordinance.

Creditors may vote either in person or by proxy. Proxies used at
the meeting must be lodged at Rm. 1304, 13th Floor, C. C. Wu
Building, 302-8 Hennessy Road, Wanchai, Hong Kong not later than
4:00 p.m. of Feb. 4, 2005.

By Order Of The Board
Wong Tak Yan
Director

This notice is dated Jan. 28, 2005.


SPREAD VANTAGE: Receives Winding Up Order
-----------------------------------------
Spread Vantage Limited of Commercial Complex Level 5, Shop 1a &
6b & Level 6, Greenwood Terrace, Cwil 118 Hong Man St, Chai Wan,
HK, has received a winding up order from the High Court on Jan.
19, 2005.

The winding-up petition was presented on Nov. 30, 2004.

This The Standard notice is dated Jan. 28, 2005.

E T O'CONNELL
Official Receiver


TELHOPE INFORMATION: Appoints Joint and Several Liquidators
-----------------------------------------------------------
Notice is hereby given that Mr. Nicholas Timothy Cornforth Hill
and Mr. Stephen Briscoe both of 7/F., Allied Kajima Building,
138 Gloucester Road, Wanchai, Hong Kong, were appointed as the
Joint and Several Liquidators of Telhope Information Development
Company Limited by an order made by Master S. Kwang of the High
Court of the Hong Kong Special Administrative Region on Jan. 13,
2005.

Nicholas Timothy Cornforth Hill
Stephen Briscoe
Joint and Several Liquidators

Presented by RSM Nelson Wheeler Corporate Advisory Services
Limited

This notice is dated Jan. 28, 2005.


YIEN YIEH: Creditors to Submit Proofs of Debt by March 7
--------------------------------------------------------
Notice is hereby given that the Creditors of The Yien Yieh
Finance Company Limited, which is being voluntarily wound up,
are required on or before Mar. 7, 2005 to send their names,
addresses and descriptions, full particulars of their debts or
claims, as well as the names and addresses of their solicitors
(if any) to the Liquidators of the said Company.

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

Leung Fung Yee, Alice
Liquidator
5th Floor, Jardine House
1 Connaught Place, Central
Hong Kong

This notice is dated Feb. 1, 2005.


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


PERUSAHAAN LISTRIK: In Talks with New Gas Supplier
--------------------------------------------------
PT Perusahaan Listrik Negara (PLN) is currently conducting
negotiations with Petronas Cagliari of Malaysia to purchase 145
million cubic feet of gas per day from the Kepodang gas field,
relates Asia Pulse.

The duration of the deal is 12 years and is expected to take
effect later this month.  PLN will pay US$2.78 per MMBTU, the
agreement states.

The gas will be utilized to fuel a power plant in Tambak Lorok,
Central Java.  Compared to the previous fuel which is diesel oil
used in the power plant, gas is much cheaper and more efficient.
With the new gas supply, the power plant is expected to resume
operations after being left idle since 2002 due to its
inefficiency.

CONTACT:

PT Perusahaan Listrik Negara (Persero)
Jl. Trunojoyo Blok M-1 No. 135, Kebayoran Baru
Jakarta, 12160, Indonesia
Phone: +62-21-725-1234
Fax: +62-21-722-1330
Web site: http://www.pln.co.id


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

FUJITSU LIMITED: To Use Biodegradable Materials for Products
------------------------------------------------------------
Fujitsu Limited announced that it will shift completely to the
use of biodegradable plant-based materials for the manufacture
of embossed carrier tape(1), used for packing large-scale
integrated circuit chips (LSIs) when shipping them on reels
(Figure 1, Figure 2). Fujitsu expects an 11% reduction in carbon
dioxide (CO2) emissions by employing biodegradable plant-based
materials to produce embossed carrier tape, in place of
polystyrene, a material which was conventionally used in the
industry.

Fujitsu leads the IT industry with this biodegradable plant-
based embossed carrier tape initiative, in view of objectives
for reducing carbon dioxide emissions set forth in the Kyoto
Protocol(2), which will go into effect on February 16, 2005.
Through initiatives such as this, Fujitsu continues to
contribute significantly to the reduction of both environmental
burden and the consumption of petroleum resources.

Fujitsu Limited and Fujitsu Laboratories jointly developed this
biodegradable plant-based embossed carrier tape, and in 2000
Fujitsu became the first Company in the world to begin using
plant-based embossed carrier tape as a packaging material of
certain LSI products for mobile phones. At the same time, the
biodegradable plant-based embossed carrier tape which Fujitsu
invented as a new material has won high customer confidence for
features such as its durability, protection against
electrostatic discharge, and its ability to maintain accurate
dimensions.

The plant-based embossed carrier tape is manufactured using
polylactic acid derived from corn, and has such uses as packing
material for shipment of LSI products. The tape is eco-friendly
in that in addition to being biodegradable, it does not produce
toxic emissions when incinerated.

Fujitsu had been employing this biodegradable plant-based
embossed carrier tape for approximately 20% of its total
production of embossed carrier tape, and from February this year
Fujitsu will raise its usage rate to 100% and thereby use this
plant-based embossed carrier tape for all of the LSI products it
offers.

Because the polylactic acid used in Fujitsu's embossed carrier
tape is plant-based, in comparison to plastic that was
conventionally used in the past, the energy required for
necessary resin production can be reduced by approximately 18%.
In addition, in terms of lifecycle assessment (LCA)(3) taking
into consideration its impact on landfills and incineration
waste, the plant-based embossed tape enables a reduction of
carbon dioxide emissions by approximately 11%.

These initiatives are reported in the "Research Report for
Biodegradable Embossed Carrier Tape" published by the Japan
Electronics and Information Technology Industries Association
(JEITA), of which Fujitsu is a member.

Glossary and Notes

(1) embossed carrier tape: A packing material that protects
semiconductors from shock and static electricity when they are
transported on reels from semiconductor factories to printed-
circuit-board factories. In addition, on packaging lines of
printed-circuit-board factories in which LSIs are embedded into
customer's products (circuit boards), LSI products which are
packed with embossed carrier tape and wound on reels are
attached to packaging equipment.

(2) Kyoto Protocol: A protocol adopted in December 1997, which
sets forth objectives for the reduction of greenhouse gas
emissions, which have a significant impact on global warming.
The Kyoto Protocol will become legally binding to its 128
parties on February 16, 2005. The Protocol sets forth Japan's
target to reduce its greenhouse gas emission volumes between
2008 and 2012 by 6% in comparison to emission volumes of 1990.

(3) lifecycle assessment (LCA): A method that quantitatively
evaluates the environmental burden of a product across the
product's entire lifecycle, from mining of resources, to
manufacturing and through until disposal.

About Fujitsu Limited

Fujitsu is a leading provider of customer-focused IT and
communications solutions for the global marketplace. Pace-
setting technologies, highly reliable computing and
communications platforms, and a worldwide corps of systems and
services experts uniquely position Fujitsu to deliver
comprehensive solutions that open up infinite possibilities for
its customers' success. Headquartered in Tokyo, Fujitsu Limited
(TSE:6702) reported consolidated revenues of JPY4.7 trillion
(US$45 billion) for the fiscal year ended March 31, 2004.

CONTACT:

Fujitsu Limited
1-1, Kami-kodanaka 4-Chome
Marunouchi Center Building
Nakahara-ku, Kawasaki-City 211-0053,
Kanagawa 100-8211
Japan
Phone: +81 44 777 1111
Fax: +81 3 32169365
Web site: http://www.fujitsu.com/


HAJIME SEKKEI: Begins Bankruptcy Proceedings
--------------------------------------------
Hajime Sekkei Konsarutanto K.K., a firm engaged in civil
engineering and construction services, has begun bankruptcy
proceedings, says Teikoku Databank America.

The Company, based in Hiroshima-shi, Hiroshima 730-0045, has
total liabilities of US$42.14 million.

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


JAPAN AIRLINES: To Add 30 Boeing 737s to Fleet
----------------------------------------------
At a board meeting February 4 in Tokyo, Japan Airlines decided
to introduce the Boeing 737NG - New Generation - aircraft on the
airline's domestic network, settling the carrier's selection of
a new type of small, single aisle airplane for future fleet
development.

JAL aims to conclude an agreement on the purchase of 30 aircraft
and 10 options in spring this year. The 737Next-Generation
series includes the 737-700, -800, and -900X types.

JAL is ordering the new aircraft in response to increased
departure and arrival slots resulting from Tokyo's Haneda
Airport's continued expansion and in anticipation of its
forthcoming new fourth runway, together with corresponding
increases in demand for flight frequency. Factors contributing
to the choice are JAL's need to minimize the number of aircraft
types in the fleet and overall business efficiency.

Currently JAL operates 65 single aisle small aircraft of this
capacity, including 23 B737-400s, 18 MD-81s, 8 MD-87s and 16 MD-
90s (as of February 1, 2005). JAL plans to introduce its first
737Next-Generation series in 2006.

CONTACT:

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


JAPAN AIRLINES: To Merge with Holding Firm by March 2007
--------------------------------------------------------
The JAL Group announced that the key elements of the group's new
medium range plan for the three-year period April 2005 through
March 2008 would be the unification at the earliest opportunity
of the group's holding Company with key business units and a
wide-ranging management reform programme. The unification target
is by the end of FY2006.

Currently, the main companies in Asia's biggest air transport
group are the holding Company, Japan Airlines Corporation, two
major airlines - JAL International and JAL Domestic - and a
group sales Company, JAL Sales.

Following the integration of Japan Airlines and Japan Air
Systems (JAS), which took from October 2002 to April 2004, the
group has concentrated on enhancing collective strength and
corporate value. But this has been negatively impacted by a
series of adverse global events: terrorism, the war in Iraq,
SARS outbreaks and most recently by record-breaking fuel prices.

In addition, market structure is undergoing change due the low
birth rate and the aging society in Japan, JAL's traditional
market. Accordingly the Company feels that its medium range
business plan must respond to the development of the steadily
growing Asia and China markets and airport expansion at the key
airports in the Tokyo metropolitan area, Haneda and Narita.

Under a streamlined administrative structure, the new
organisation will be capable of flexibly coping with the
continued upheaval in the international business environment.

JAL plans to announce more details in March in the full version
of the new medium range plan, including drastic business re-
structuring, cost structure reform, and measures for increased
financial stability.

Fundamental Features of the Medium Range Plan

- The JAL Group will aim at providing simplified, easy to
understand products and services for customer convenience

- The main sales focus will be on significant growth markets

- There will be expansion of out-sourcing especially to overseas
locations

- JAL will rationalize the number of aircraft types and aircraft
configurations and develop its fleet of small aircraft.

- The group will expand use of IT to simplify the business
process

Management Structure Reforms

- Unification of the holding Company and the business units will
be pursued as soon as possible with the end of FY2006 as a
target, to speed up decision-making and improve communication
between head office and service branches.

- From FY2005 Corporate planning and marketing functions, now
separated among group companies to some extent, will be unified
to eliminate job duplication, in practice creating a single
Company structure.

- In 2005 the JAL Group will reduce the number of board members
and executive officer positions by 30 percent

- From the end of FY2004 the special retirement payments for
board members and executive officers will be abolished.

(NOTE: as a special measure the salaries of board members and
executive officers will be cut by 20-35% in FY2005)


KAWASAKI HEAVY: METI Approves Business Restructuring Plan
---------------------------------------------------------
A business restructuring plan submitted to the Ministry of
Economy Trade and Industry (METI) by Kawasaki Heavy Industries,
Ltd. (KHI) was approved on January 28.

This plan is to enhance the profitability of Kawasaki Heavy
Industries Group by integrating design, construction and sales
operations into Kawaju Plant Co., Ltd. (provisional translation)
which is a wholly owned subsidiary of KHI.

The Group's principal activities are the manufacture of a wide
range of industrial products. Operations are carried out through
the following divisions: General machinery (motorcycles, jet-
skis, buggies and gasoline engines); Industrial plant
(industrial machinery, boiler and environment equipment); Gas
turbine (jet engines, general gas turbines and motors);
Aerospace (air planes); Transportation equipment (trains,
construction machinery and precision machinery); Shipbuilder and
Other. General machinery accounted for 25 % of fiscal 2002
revenues; industrial plant, 20%; gas turbine, 15%; aerospace;
14%; transport equipment; 11%; shipbuilder, 8% and other, 7%.

CONTACT:

Kawasaki Heavy Industries, Ltd.
1-3, Higashi-kawasakicho 1-Chome
KOBE CRYSTAL TOWER
Chuo-Ku, Kobe-City 650-8680, Hyogo 650-8680
JAPAN
Phone: +81 78 371 9551
Fax: +81 3 3432 4759
Web site:  http://www.khi.co.jp/


K.K. MANDEN: Enters Bankruptcy
------------------------------
K.K. Manden has entered bankruptcy with total liabilities of
US$96.15 million, according to Teikoku Databank America.

The electrical equipment wholesaler is headquartered in Osaka-
shi, Osaka 530-0047.

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


MILLENNIUM RETAILING: METI OKs Changes to Restructuring Scheme
--------------------------------------------------------------
Changes to the business restructuring plan, originally submitted
to the Ministry of Economy, Trade and Industry (METI) by
Millennium Retailing Inc. and approved on June 15, 2004,
pursuant to Article 3, Paragraph 6 of the Law on Special
Measures for Industrial Revitalization, were examined and found
to fulfill the requirements of Article 4, Paragraph 5 of the
said law.

Changes were consequently approved.

Millennium Retailing is a holding Company formed by the merger
of Seibu Department Stores and Sogo Co. in mid-2003. Together
Seibu, which operates 21 stores, and Sogo, with 11 stores, form
the second-largest department store operator in Japan.

CONTACT:

Millennium Retailing Inc
1-1-2, Marunouchi, Chiyoda-ku
Tokyo 100-0005, Japan
Phone: +81-3-6213-7152
Fax: +81-3-6213-7159


UFJ HOLDINGS: SMFG Says it Will Pursue Merger Bid
-------------------------------------------------
Sumitomo Mitsui Financial Group (SMFG) denied media reports that
it was considering giving up on its bid to merge with UFJ
Holdings Incorporated, Reuters reports.

The Mainichi Shimbun newspaper reported SMFG would abandon its
attempt to seek an integration with UFJ.

The paper also said that SMFG had judged that UFJ shareholders
were unlikely to reject a merger proposal between UFJ and
Mitsubishi Tokoy Financial Group Incorporated at their meeting
slated for June.

SMFG, likewise, denied a report by the Asahi Shimbun that SMFG
would possibly lower its earnings forecast due to an additional
JPY200 billion (US$1.93 billion) in loan-loss charges.

CONTACT:

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


UFJ HOLDINGS: Creation of World's Top Bank Nears
------------------------------------------------
In line with its goal to create the world's largest bank in
terms of assets, Mitsubishi Tokyo Financial Group (MTFG) is
close to offering US$29 billion in shares for rival UFJ Holdings
Incorporated, Reuters relates, citing the Mainichi Shimbun.

The offer is believed to be worth about 20 percent less than a
competing bid by Sumitomo Mitsui Financial Group (SMFG), whose
attempt to block MTFJ's merger bid for UFJ has been rejected, so
far.

MTFG's reported offer price is more or less in line with
expectations and would likely get the approval of UFJ
shareholders. However, the possibility of UFJ securing a
slightly higher final price remains.

MTFG has been under pressure for months to come up with specific
takeover terms after SMFG announced its unsolicited bid in
August. Without a concrete offer, MTFG worked to further
strengthen ties with UFJ by infusing JPY700 billion in UFJ's
undercapitalized core banking unit in September.

SMFG could still take its offer directly to UFJ investors at a
June shareholders' meeting. The bank has acquired a small JPY150
million (US$1.37 million) stake in UFJ, enough to give it the
right to propose a merger at the meeting.

A final decision on the merger ratio is expected to be announced
as early as the week of Feb. 14.


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


KOOKMIN BANK: Turns Around with Net Profit of KRW555 Bln
--------------------------------------------------------
Kookmin Bank has booked a net profit of KRW555.2 billion for
fiscal 2004, reversing a loss of KRW640.6 billion in 2003,
according to the Financial Times.

Mr. Kang Chung-won, Kookmin's Chief Executive Officer, said the
bank would focus on improving its asset quality this year rather
than boosting the amount of assets. The bank's conservative
asset management policy was reflected into its latest quarterly
performance.

Kookmin reported the only fourth-quarter loss of KRW127 billion
among the nation's four biggest lenders namely Shinhan Financial
Group Ltd., Woori Bank and Hana Bank, as it sets aside higher
provisions to deal with bad loans.

At a meeting aired live to overseas investors accounting for 76
percent of the bank's shares, chief financial officer Shin Hyun-
kap said that "the figures may not be impressive but still it's
a meaningful turnaround".

Mr. Kang said Kookmin would take aggressive policies in the
second half of the year only after it meets the coverage ratio
to 100 percent.

CONTACT:

Kookmin Bank
9-1 Namdaemoonro 2-ga
Chung-gu, Seoul 100-092
South Korea
Phone: +82 2 317 2114
Fax:   +82 2 776 5637


KOOKMIN BANK: Early Retirement Offer Lures the Wrong People
-----------------------------------------------------------
Over 500 competent female staffers in their thirties applied for
early retirement at Kookmin Bank, which is conducting a large-
scale layoff, according to Chosun News.

Most of the staff who took advantage of the offer are mothers
who were persuaded by the 24-month severance pay and support
with children's tuition.

A total of 2,196 employees had applied for early retirement, 386
in excess of the 1,800 the bank anticipated. Of the applicants,
more than 1,500 were being targeted in the layoff, but over 700
applied for early retirement despite excellent performances.

Some officials were worried about the situation saying, "many of
the married women who applied for early retirement were in their
early 30's, excellent people who worked hard". Although another
bank official said that they are planning to accommodate most of
those `young' staff who applied.


LG CARD: Creditors Must be Given First Priority in Takeover
-----------------------------------------------------------
Creditors of LG Card Co. must be given the priority in
a possible acquisition of the firm, according to Asia Pulse,
citing the chief of a creditor bank.

"The creditors have already injected KRW3 trillion into LG
Card," said Mr. Kim Seung-yu, the head of the third-largest Hana
Bank.

"Such a situation gives creditors a priority in their rights for
acquisition."

Many local financial institutions are reportedly targeting the
card issuer as its financial health is expected to improve after
two creditor-led bailouts.

Prospective buyers include Woori Financial Group, whose flagship
is main creditor Woori Bank, the National Agricultural
Cooperative Federation and Hana Bank.

In late 2004, creditors of LG Card, led by the state-run Korea
Development Bank (KDB), and LG Group affiliates agreed to pump
KRW1 trillion in the second bailout.

Bolstered by the fresh capital injection, LG Card's 2004
performance gradually improved. It posted a net profit of
KRW23.4 billion in November, the third consecutive month of
profit.

CONTACT:

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


THRUNET COMPANY:  Hanaro Slashes Takeover Price by 5%
-----------------------------------------------------
Hanaro Telecom Inc., South Korea's second-largest broadband
Internet operator, said it has cut its proposed price to buy
smaller rival Thrunet Co. by 5percent to KRW471.4 billion,
Yonhap News reports.

The price cut was endorsed at a board meeting on Feb. 4, Hanaro
said in a statement to the Korea Stock Exchange. A formal
contract for the Thrunet acquisition will be made after a court
approves the deal, it added.

Thrunet filed for court receivership in 2003 amid mounting debt
and stiff competition.

According to sources, Hanaro initially offered around KRW490
billion for the Company, but was pushing for the discount of 5
percent. Under the agreement, Hanaro will buy Thrunet shares and
corporate bonds.

CONTACT:

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


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


ANTAH HOLDINGS: Bourse Halts Trading of Shares
----------------------------------------------
Bursa Malaysia Securities Berhad suspended the shares of Antah
Holdings Berhad on Feb. 2 for the failure to submit on time its
audited accounts for fiscal year 2004, Business Times reports.

The Company was unable to meet an October 31 deadline last year
and had asked the stock exchange for an extension to January 31,
saying that its external auditor, BDO Binder, required more time
to "review certain aspects" of its financial statements.

The shares were halted at 24 sen after it failed to meet the
extended deadline. The suspension will only be lifted the day
after it finally submits its audited accounts.

Antah also got into trouble with the exchange earlier this year
for not distributing its 2004 annual report to shareholders
within the stipulated time-frame of Dec. 31, 2004. Its shares
risk being suspended again if the annual report is not
distributed by March 31.

Antah Holdings Berhad is controlled by the Negri Sembilan royal
family. The group last posted a net loss of RM14.3 million for
the first quarter ended Sept. 30 2004, from a profit of RM4.8
million in the same quarter in 2003.

The Company is in the midst of a massive restructuring to settle
a RM259.7 million debt, for which its key creditors expressed
support last December.

CONTACT:

Antah Holdings Berhad
Level 7, Menara Milenium,
Jalan Damanlela,
Pusat Bandar Damansara,
Damansara Heights 50490
Kuala Lumpur, Malaysia
Phone: 03-20849000
Fax:   03-20949940


BUKIT KATIL: Still Mapping Out Restructuring Plan
-------------------------------------------------
Pursuant to Paragraph 4.1(b) of the Practice Note No. 4/2001,
Bukit Katil Resources Berhad announced that there has been no
material change in the status of the Company's plan to
regularize its financial conditions since the last announcement
dated Dec. 31, 2004.

The Company is still in the midst of formulating a restructuring
plan to regularize its financial condition and is currently in
talks with prospective investors on potential assets for
injection.

The details of the restructuring plan will be announced once it
is finalized and agreed upon by all parties concerned and in any
event, not later than six months from the date of the First
Announcement.

CONTACT:

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

This announcement is dated Feb. 2, 2005.


CONSOLIDATED FARMS: Seeks to Regularize Financial Condition
-----------------------------------------------------------
Consolidated Farms Berhad (Confarm) advised Bursa Malaysia on
the following:

1. Monthly Status Announcement: Practice Note No. 1/2001

The Confarm Group had not been able to pay the amount of
principal and/or interest in respect of its credit facilities as
at Jan. 31, 2005 as set out in Table 1.

2. Monthly Status Announcement: Practice Note No. 4/2001

Further to the Announcement dated Jan. 4, 2005, the Company
announces that there has been no material development in respect
of the Company's plan to regularize its financial position.

The Company is in the midst of finalizing the details of the
submission to the Securities Commission and other relevant
authorities within the stipulated timeframe.

To view Table 1, click on:

http://bankrupt.com/misc/tcrap_consolidated020305.doc

CONTACT:

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

This announcement is dated Feb. 2, 2005.


INNOVEST BERHAD: Awaits Approval of Restructuring Scheme
--------------------------------------------------------
Further to the announcement made on Jan. 3, 2005, Innovest
Berhad disclosed the status of its plan to regularize its
financial position (Proposed Restructuring Scheme).

There are no material changes to the status of the Company's
plan to regularize its financial condition since its last
announcement.

The Proposed Restructuring Scheme is currently pending the
approval of the Securities Commission, the Foreign Investment
Committee and Company shareholders of in a court convene scheme
meeting to be held on a later date.

CONTACT:

Innovest Berhad
2 Lorong Dungun Kiri Damansara Heights
Kuala Lumpur, Kuala Lumpur 50490
Malaysia
Phone: +60 3 2093 3373
Fax:   +60 3 2094 3733

This announcement is dated Feb. 2, 2005.


JIN LIN: SC Reviews Rehab Scheme for FIC
----------------------------------------
In compliance with PN4 paragraph 4.1(b) of the Bursa Securities
Listing Requirements, Jin Lin Wood Industries Berhad (JLWIB)
announced that its Proposed Restructuring Scheme submitted to
the Securities Commission (SC) on June 30, 2004 is still being
evaluated by SC. SC is also evaluating on behalf of the Foreign
Investment Committee.

CONTACT:

Jin Lin Wood Industries Berhad
177, 2nd Floorn
Taman Sri Dagang
P O Box 3181
97013 Bintulu, Sarawak
Malaysia
Phone: 086-334661/335570
Fax:   086-330866/334808

This announcement is dated Feb. 2, 2005.


KEMAYAN CORPORATION: Seeks to Obtain Creditors' Approval
--------------------------------------------------------
Further to the announcement dated Jan. 4, 2005, Kemayan
Corporation Berhad (KCB) advised that the Company is still
preparing the necessary documents to obtain approvals of the
Scheme Creditors and shareholders of KCB at the relevant
meetings to be convened.

Further developments in relation to the Proposed Restructuring
Scheme will be made to the Exchange in due course.

CONTACT:

Kemayan Corporation Berhad
Taman Tasek
Johor Bahru, Johor Bahru 80200
Malaysia
Phone: +60 7 236 2390
Fax:   +60 7 236 5307

This announcement is dated Feb. 2, 2005.


KILANG PAPAN: Aims to Secure OK on Revised Restructuring Scheme
---------------------------------------------------------------
Further to the announcement dated Jan. 3, 2005, Kilang Papan
Seribu Daya Berhad (KPSD) announced that it is currently waiting
for approvals from the Securities Commission and Foreign
Investment Committee on its revised Proposed Restructuring
Scheme.

Save as disclosed above, there is no material change to the
Company's plan to regularize its financial condition.

CONTACT:

Kilang Papan Seribu Daya Berhad
Lot 1 Harmoni Industrial Estate
Kolombong, Inanam 88100
Malaysia
Phone: +60 88 423 385
Fax:   +60 88 423 287

This announcement is dated Feb. 2, 2005.


K.P. KENINGAU: Forming Strategy to Stabilize Finances
-----------------------------------------------------
Pursuant to Practice Note 4/2001, K.P. Keningau Berhad announced
that there is no new development since the date of the last
Company announcement and, the Company is still assessing various
options to regularize its financial condition.

CONTACT:

K.P. Keningau Berhad
Lot 10, The Highway Centre
Jln 51/205 46050 Petaling Jaya,
Selangor
Telephone: 03-7784 3922
Fax: 03-7784 1988

This announcement is dated Feb. 2, 2005.


MENTIGA CORPORATION: To Present Proposals to SEC by End-February
----------------------------------------------------------------
Further to the status report made on 3 January 2005, Mentiga
Corporation Berhad announced the following:

1. Mentiga had on Jan. 6, 2005 announced that it received a
notice to show cause on de-lisitng of Securities of the Company
from Bursa Securities and the Company was requested to make
written representation to Bursa Securities within 14 days from
the date of receipt of the said notice;

2. On Jan. 19, 2005, the following announcements were made:

- The Company made written representation to Bursa Securities as
to why the Securities of the Company should not be de-listed
from the Official List of Bursa Securities; and

- The Company, via its advisers, Commerce International Merchant
Bankers Berhad had announced that Selat Bersatu Sdn Bhd (SBSB),
a 56% owned subsidiary of the Company and Mr Karli Boenjamin,
have on Jan. 18, 2005 entered a Share Sale Agreement with
Delloyd Plantation Sdn Bhd and Taipan Hectares Sdn Bhd (THSB)
for Proposed disposal of the following:

(i) 18,900 PT Rebinmas Jaya Shares representing SBSB's entire
90% equity interest in PTRJ to the purchasers for a cash
consideration of RM61,200,000; and

(ii) 1,050 PTRJ Shares representing Mr Karli Boenjamin's 5%
equity interest in PTRJ to THSB for a cash consideration of
RM6,800,000.

The Company is in the midst of preparing a revised comprehensive
proposal incorporating the above said Proposed disposal and the
said Proposal is expected to be submitted to the Securities
Commission by the end of February 2005 for approval.

CONTACT:

Mentiga Corporation Berhad
Jalan Kampar Off Jalan Tun Razak
Kuala Lumpur, 50400
Malaysia
Phone: +60 3 40439411
Fax:   +60 3 40431233


OCEAN CAPITAL: Searching for Potential White Knight
---------------------------------------------------
Ocean Capital Berhad announced that the Company is still looking
for another potential "White Knight" to regularize its financial
conditions. Since then, there has been no change on the status
of the Company.

CONTACT:

Ocean Capital Berhad
No. 43B, 2nd Floor Changkat
Bukit Bintang 50200 Kuala Lumpur
Malaysia
Phone: 03-21480700
Fax:   03-21454825

This announcement is dated Feb. 2, 2005.


OLYMPIA INDUSTRIES: Application on Extension Awaits SC Approval
---------------------------------------------------------------
Olympia Industries Berhad (OIB) announced that there has been no
major development in relation to the implementation of the
Company's Proposed Restructuring Scheme since its last monthly
status announcement on Jan. 3, 2005.

The Company's application for an extension of time for the
completion of the said Scheme is still pending
consideration/approval from the Securities Commission.

CONTACT:

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

This announcement is dated Feb. 2, 2005.


OMEGA HOLDINGS: Sees No Development in Regularization Plan
----------------------------------------------------------
Omega Holdings Berhad refers to the announcements made on Jan.
3, 2005 and Dec. 27, 2004. Save as announced, and pursuant to
Practice Note 4/2001, there have been no material developments
in respect of the Company's plan to regularize its financial
position.

CONTACT:

Omega Holdings Berhad
Jalan Semantan Damansara Heights
50490 Kuala Lumpur, Selangor Darul Ehsan 46050
Malaysia
Phone: +60 3 2713 2160
Fax:   +60 3 2713 2170

This announcement is dated Feb. 2, 2005.


PANGLOBAL BERHAD: Issues Monthly Status Update
----------------------------------------------
Panglobal Berhad announced that there has been no new
development in its financial status since its previous monthly
announcement on Jan. 3, 2005.

CONTACT:

Panglobal Berhad
8 Lorong P Ramlee
Kuala Lumpur, 50250
Malaysia
Phone: +60 3 2031 9199
Fax:   +60 3 2032 3977

This announcement is dated Feb. 2, 2005.


PARK MAY: Seeks Extension on Proposed Restructuring Scheme
----------------------------------------------------------
In line with PN4 of the Bursa Securities' Listing Requirements,
Park May Berhad advised that the Company is in the midst of
submitting an application to the High Court of Malaya for an
extension of time to convene the court-convened meeting of its
shareholders for the purposes of considering and, if thought
fit, approving with or without modification a proposed
shareholders' scheme, which forms an integral part of the
Company's plan to regularize its group of companies' financial
position, pursuant to Section 176 (1) of the Companies Act, 1965
by March 31, 2005.

In addition, the Company is finalizing the Explanatory
Statement/Circular to be dispatched to its shareholders for the
purposes of the Proposed Restructuring Scheme.

CONTACT:

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

This announcement is dated Feb. 2, 2005.


TRU-TECH HOLDINGS: Aims to Regularize Financial Status
------------------------------------------------------
Further to the announcement dated Jan. 3, 2005, Tru-Tech
Holdings Berhad announced that there has been no material
development in respect of the Company's plan to regularize its
financial position.

The Company's applications to regularize its financial condition
which were submitted to the Securities Commission, Foreign
Investment Committee and Ministry of International Trade and
Industry on Dec. 31, 2004 are currently pending approvals from
the relevant authorities.

CONTACT:

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

This announcement is dated Feb. 2, 2005.


UNITED CHEMICAL: Restructuring Scheme Subject to Bursa Clearance
----------------------------------------------------------------
United Chemical Industries Berhad (UCI) announced that its
Proposed Restructuring is currently subject to the clearance of
Bursa Malaysia Securities Berhad for the issuance of Explanatory
Statement-Cum-Circular to shareholders and creditors of the
Company.

Save for the above, there is no further development to the
Proposed Restructuring of UCI.

CONTACT:

United Chemical Industries Berhad
10th Floor, Wisma MCA
Jalan Ampang
50450 Kuala Lumpur, WP
Malaysia
Phone: 603-2619055
Fax: 603-2610502

This announcement is dated Feb. 2, 2005.


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


COLLEGE ASSURANCE: PICPA Contests Stand on Liabilities
------------------------------------------------------
A group of certified public accountants challenged College
Assurance Plan's (CAP) stand that its accrued obligations should
not be reflected in its financial statements, according to
Business World.

The Philippine Institute of Certified Public Accountants (PICPA)
believes that CAP's actuarial reserve liability (ARL) meets all
conditions to be considered a liability in the financial
statements.

The ARL is the measure of the liabilities of pre-need companies
for in-force plans or lapsed plans as of valuation date. It
represents the accrued net liabilities of the pre-need Company
to its planholders, as certified by an actuary. Omitting the ARL
in the financial statements of pre-need firms will "materially
misrepresent what the pre-need Company's real obligation is.

Earlier, CAP Chief Finance Officer Rafael C. Bueno submitted a
letter to the Securities and Exchange Commission (SEC), saying
the ARL should not be considered as a liability in the pre-need
firm's financial reports because it does not meet all conditions
for liabilities.

CONTACT:

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


COLLEGE ASSURANCE: SEC OKs Move to Secure US$300-Mln Loan
---------------------------------------------------------
Embattled College Assurance Plans Philippines Incorporated (CAP)
will finally secure US$300 million from California-based First
American Investment Limited, Business World reports.

The pre-need firm will now be able to pursue the loan deal with
the U.S. Company after the Securities and Exchange Commission
(SEC) authorized the move. In fact, CAP had already secured
SEC's clearance on the memorandum of agreement for the loan.

Under the deal, CAP's loan will be backed by assets, including
its Metro Rail Transit (MRT) bonds worth Php3 billion.
Philippine Veterans Bank, the trustee bank for the transaction,
will issue an asset safekeeping receipt for the MRT bonds. The
safekeeping receipt will serve as the collateral for the loan.

CAP, which has had problems meeting obligations after the SEC
suspended its rights to sell plans, believes the US$300-million
loan will address its liquidity issues.

Once the loan is completed, CAP plans to pursue negotiations
with a Canadian Company for another loan worth US$100 million.


FILHOMES SAVINGS: PDIC Services Claims for Insured Depositors
-------------------------------------------------------------
The Philippine Deposit Insurance Corporation (PDIC) will start
its operations for the servicing of claims for insured deposits
in the closed FilHomes Savings & Loan Bank (Cabanatuan City),
Inc. (FSLBI) on Friday, January 28, 2005.

Depositors are requested to proceed directly to the FSLBI
Office/Branch where they maintained their deposits, which have
been designated as payoff sites (please refer to the table
below). PDIC representatives are stationed at these payoff sites
to accept claims and entertain queries of depositors during
office hours, from Monday to Friday.

FSLBI Office/Branch: Head Office & Money Shop (Cabanatuan City)
Payoff Site Address:  Burgos Street, Cabanatuan City, Nueva
Ecija
Duration of Initial Operations:  January 28 to February 11, 2005

FSLBI Office/Branch : Talavera Branch
Payoff Site Address: Poblacion, Talavera, Nueva Ecija
Duration of Initial Operations: January 28 to February 8, 2005

After the said date, all depositors can file their claims
personally at the PDIC Claims Counter, 6th Floor, SSS BLDG,
Ayala Avenue corner V.A. Rufino St., Makati City from Monday to
Friday, 8:00 A.M. to 5:00 P.M. or by mail to:

The Manager
Claims Processing Department
Philippine Deposit Insurance Corporation
2228 Chino Roces Avenue
1231 Makati City

Depositors are advised to present the following requirements to
the PDIC representatives when filing their claims:

a. Original evidence of deposit such as Savings Passbook and/or
Certificate of Time Deposit.

b. Two (2) latest identification cards/documents (IDs) with
depositor's signature.

Other documents maybe required by the PDIC representatives in
the course of their processing of claims filed.

Pursuant to the provision of R.A. 3591, as amended by R.A. 9302,
the prescriptive date (last day) for filing claims for insured
deposits in the closed FilHomes Savings & Loan Bank (Cabanatuan
City), Inc. is January 20, 2007.  After January 20, 2007, PDIC
as insurer, shall no longer accept any claim for insured
deposits maintained with the said closed bank.


NATIONAL POWER: Bidder Needs US$440 Mln to Buy Four Power Plants
----------------------------------------------------------------
The geothermal arm of the Philippine National Oil Company (PNOC)
said it will need some US$440 million to acquire four power
plants owned by the struggling National Power Corporation
(Napocor), Today reports.

PNOC-Energy Development Corporation (PNOC-EDC) is keen on the
150-megawatt (MW) Bacon-Manito geothermal facility, Bacman I,
110 MW, and Bacman II, 40 MW, which are set to be sold in
August. The Company is also interested in the 180-MW Palinpinon
I and II power plants and 112.5-MW Tongonan I, which will be
sold in October and November this year.

PNOC-EDC said it has the cash to pay for Bacman I and II in the
auction. The amount it generates from the intended privatization
will then be used to fund EDC's bid in the three other power
facilities.

PNOC-EDC explained it needed to bid for Napocor's assets, as it
has to operate both the geothermal steam fields and the power
plants.

CONTACT:

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


MANILA ELECTRIC: Broadcast Firm Opposes Refund Scheme
-----------------------------------------------------
GMA Network Incorporated on Wednesday filed a case with the
Court of Appeals to force Manila Electric Company (Meralco) to
pay interest on its court-ordered refund, Business World
reports.

The broadcast Company has questioned the recent order of the
Energy Regulatory Commission (ERC) exempting Meralco from paying
interest on the refund for over-billings since 1994.

GMA opposed Meralco's refund scheme and called it "arbitrary and
illegal". It stressed the utility firm must immediately execute
the Supreme Court decision to refund some Php30 billion ion
excess billings.

The network wants Meralco to pay them an interest of 6 percent a
year between 1994 to April 2002 and 12 percent a year after
that, making the refunds reach Php6.48 million.

The over-billings came about when regulators took back after
four years a power rate hike in 1994. The Supreme Court ordered
Meralco to refund the over-billings in April 2002.

Meralco is controlled by the Lopez family, which also owns GMA
Network's main rival, ABS-CBN Broadcasting Corp.

CONTACT:

Manila Electric Co.
Lopez Building
Ortigas Avenue, Pasig City
Phone:  16220 (TL); 633-4553 (Corp. Sec.)
Fax:  (0632) 631-5572
E-mail Address: corcom@meralco.com.ph
Web site: http://www.meralco.com.ph


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


APEX INTERNATIONAL: Receives Winding Up Order
---------------------------------------------
In the matter of Apex International (S) Pte Ltd., a Winding Up
Order was made on Jan. 28, 2005.

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

Chan & Goh
Solicitors for the Petitioners

Note:

(a) All creditors of the above named Company should file their
proof of debt with the liquidator who will be administering all
affairs of the Company.

(b) All debts due to the above named Company should be forwarded
to the liquidator.

This Singapore Government Gazette notice is dated Jan. 28, 2005.


CHINA AVIATION (S): Japanese Firm Files Legal Action
----------------------------------------------------
Japan's Sumitomo Mitsui Banking Corporation has filed a lawsuit
against ailing China Aviation Oil (Singapore) Corporation (CAO),
seeking payment for damages worth US$26.4 million, Kyodo News
reports.

The Singapore branch of Sumitomo Mitsui Banking, the fourth
largest creditor of China Aviation Oil (CAO), lodged the suit
with Singapore's High Court against the jet fuel procurement
Company, its Beijing-backed parent China Aviation Oil Holding
Co. and former CAO chief executive Chen Juilin.

Sumitomo Mitsui claimed that Mr. Chen and CAO's parent Company
should have known about CAO's losses and that the three parties
deliberately attempted to mislead the Japanese bank.

CAO lost US$550 million late last year in oil trade derivative
and then later filed court protection from its liquidators. CAO
submitted its restructuring plan to the Singapore High Court
last Jan. 24. Its creditors are expected to convene on June 10
to go against or in favor of the restructuring strategy.

CONTACT:

China Aviation Oil (S) Corp.
Phone: (65)6334 8979
Fax: (65)6333 5283
Web site: http://www.caosco.com/


CHINA AVIATION (S): Unit Seals Jet Fuel Bid for March, April
------------------------------------------------------------
China Aviation Oil (Singapore) Corporation Ltd (CAO) announced
at the Singapore Stock Exchange that its wholly owned
subsidiary, China Aviation Oil Trading Pte Ltd, has closed its
second physical Jet Fuel tender for deliveries in March/April
2005.

CAOT's second tender was highly successful and received an
overwhelming response from 10 physical jet fuel suppliers
(tenderers) that submitted tenders, which included both the oil
majors and major trading houses.

In aggregate, based on the March/April 2005 volume requirements
of 350,000 metric tones of Jet A-1 Fuel, the tender was
approximately 5 times oversubscribed.

In accordance with its normal practices, CAOT will award the
mandates to the most competitive tenderers. CAOT is pleased to
note that the tenders that were received were very competitive
and complied with

CAOT's standard terms and conditions.

Mdm Gu Yanfei, Non-Executive Director of CAO and Special Task
Force Leader said: "I am pleased to note that the CAOT has
received a good response and support from the market in its
latest tender, as it augurs well for long term continuation of
our Jet Fuel business, especially after our restructuring is
completed."

CAO, on behalf of CAOT, wishes to express its appreciation and
thanks to all tenderers for their continued support of its jet
fuel procurement business and is confident that the next
physical jet fuel tender to be conducted will be equally
successful.

For media enquiries, please contact:

Mr. Gerald Woon, Director, Cogent Communications Pte Ltd
Phone: 6323-1060
Mobile: 9694-8364
E-mail: woon@cogentcomms.com


DORTECHNIC PRIVATE: Posts Notice Of Preferential Dividend
---------------------------------------------------------
Dortechnic Private Ltd. with address of registered office at
Formerly of 200 Jalan Sultan #03-03 Singapore 199018 made its
notice of preferential dividend.

Court: Supreme Court, Singapore

Number of Matter: Companies Winding Up No. 453 of 1999

Amount Per Centum: 80.48%

First and Final or otherwise: First & Final Preferential
Dividend

When Payable: Jan. 17, 2005

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

Karen Loh
Assistant Official Receiver

Dated this 28th day of January 2005.


KEISO GIKEN: Issues Intended Dividend Notice
--------------------------------------------
Keiso Giken Kaisha Instrumentation Pte Ltd. with address of
registered office at Formerly of 531A Upp Cross St. #04-100 Hong
Lim Complex Singapore 051531 issued a notice of intended
dividend.

Court: Supreme Court, Singapore

Number of Matter: Companies Winding Up No. 216 of 1993

Last Day for Receiving Proofs: Feb. 11, 2005

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

Sunari Bin Kateni
Assistant Official Receiver

This Singapore Government Gazette notice is dated Jan. 28, 2005.


MISNET SINGAPORE: To Declare First & Final Preferential Dividend
----------------------------------------------------------------
Misnet Singapore Pte Ltd. with address of registered office at
Formerly of 15 McCallum Street #13-03 Singapore 069045 posted
its notice of first and final preferential dividend.

Court: Supreme Court, Singapore

Number of Matter: Companies Winding Up No. 358 of 1999

Amount Per Centum: 37%

First and Final or otherwise: First & Final Preferential
Dividend

When Payable: Jan. 25, 2005

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

Kamala Ponnampalam
Assistant Official Receiver

This Singapore Government Gazette notice is dated Jan. 28, 2005.


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


PACIFIC ASSETS: Releases Additional Info on Meeting Resolution
--------------------------------------------------------------
Following the Board of Directors' meeting No. 1/2005 held on
February 2, 2005, Pacific Assets Public Company Limited provided
the Stock Exchange of Thailand (SET) additional information of
its resolution:

(1) To acknowledge the resignation of Mr. Sermsin Samalapa as
the Chairman of the Board. However, he still maintains a
position of a director of the Company with effect on February 2,
2005.

(2) To appoint Dr. Srisook Chandrangsu as new Director of the
Company and Chairman of the Board in replacement of Mr. Sermsin
Samalapa.

Yours sincerely,

Pacific Assets Public Company Limited
Alex Te-Heng Ho
Chief Executive Officer

CONTACT:

Pacific Assets Public Company Limited
Two Pacific Place, Floor 23,
142 Sukhumvit Road,
Khlong Toei, Bangkok
Telephone: 0-2254-9900
Fax: 0-2254-9909, 0-2254-9287


TONGKAH HARBOUR: SET Halts Trading of Securities
------------------------------------------------
The Stock Exchange of Thailand (SET) has ordered the trading
halt of Tongkah Harbour Public Company Limited (THL) because THL
has announced its resolution of the Board of Director's Meeting
about increasing of capital amounting to 151,387,893 shares
offer to existing shareholders, but failed to disclose the
important details of such capital increase that might affect on
the decision making of trading of its securities.

Therefore, the SET has temporarily halted trading of the
Company's securities, effective from the morning trading session
of February 3,2005 until the Company has clarified or disclosed
this material information to the SET.

CONTACT:

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


TONGKAH HARBOUR: Proposes Capital Increase
------------------------------------------
Tongkah Harbour Public Company Limited advised the Stock
Exchange of Thailand (SET) on the resolution of the Board of
Directors Meeting No. 1/2005 on February 2, 2005 from 10:00 a.m.
to 11:15 a.m. regarding the capital increase/new shares
allocation as follows:

(1) Capital Increase

The Board of Directors recommended for approval by shareholders
the increase of the Company's registered capital from
605,551,570 shares to 756,939,463 shares by issuing new common
shares totaling 151,387,893 at THB1 par value per share totaling
THB151,387,893.

(2) New Shares Allocation

The Board of Directors Meeting recommended for approval by
shareholders to allocate new common shares 151,387,893 shares
with par value of THB1 per share totaling THB151,387,893 as
follows:

(2.1) Allocation Details

Allocate to  Amount of  Ratio  Price per  Subscription Remarks
shares                  old: New) share   period
Right                   (Baht)
Issue

151,387,893     4:1       1.71        24-30 March  (a) (as per
                                                   2005 book
                                                   value)

(a) Unsubscribed shares will be allocated to the subscribers
proportionately: period 18-21 April 2005

(2.2) The Company will close the registration book for the
rights issue subscription on March 14, 2005 at 12:00 p.m.

(2.3) The Company's process in case of odd shares left from
calculation:

Odd shares occur from calculation shall be eliminated.

(2.4) Amount of unallocated common shares: none

(3) Date of Shareholders' Meeting to approve the capital
increase/shares allocation

The Shareholder's Meeting No. 11/2005 will be held on Friday,
March 4, 2005 at 9:30 a.m. at Ampornpimarn Room, 4th Floor, The
Grand Hotel. The closing date of the registration book to attend
the Shareholders' Meeting is on Thursday, February 17, 2005 at
12:00 p.m. until the Shareholders Meeting is finished.

(4) Permission required to increase capital/allocate new common
shares from related government departments and conditions. (if
any): none

(5) Purpose and Usage of Capital Increase Fund

To meet the additional bank requirement over and above
THB150,000,000 capital increase of TKL and to acquire additional
machinery and equipment to step up the recovery of gold from the
primary ore which additional investment is justified by current
buoyant gold price.

(6) Benefits that the Company will receive from the capital
increase/shares allocation

(6.1) Having sufficient fund for development and stepping up
gold recovery from primary ore of the Gold Mining Project in
Loei.

(6.2) Improving the Company's performance due to higher recovery
of the gold Mining project.

(6.3) Increasing the Company's Liquidity.

(7) Benefits that the shareholders will receive from the capital
increase/shares allocation.

(7.1) Dividend Policy: Depending on Company's performance.

(7.2) Operational period that the rights issued will be eligible
for dividend: Depending on the Company's performance.

(7.3) Others: None

(8) Other necessary information for shareholders in making
decision to approve the capital increase/shares allocation

(8.1) Capital Increase to Existing Shareholders

If the shareholders do not take up their rights entitlement, it
will make the existing shareholder proportion decrease by 20% of
registered capitals after Capital Increase.

(9) Schedule in the event the Board of Directors approve the
capital increase/share allocation.

The Company certifies that the Company information in this
report is true and correct.

Managing Director
Mr. Ronald Ng Wai Choi

Date                  Procedure

2 February 2005       Board of Directors approves for the
                      capital increase/shares allocation.

17 February 2005      Date of closing registration book for
                      shareholders' Meeting No.11/2005

4 March 2005          Shareholders' Meeting No. 11/2005 to
                      approve for capital increase / shares
                      allocation.

14 March 2005         Date of closing registration book for
                      rights subscription.

24-30 March 2005      Subscription Period

18-21 April 2005      Subscription Period for subscribers
                      allocated for shares not subscribed.




                            *********


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

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

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