TCRAP_Public/050208.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, February 8, 2005, Vol. 8, No. 27

                            Headlines

A U S T R A L I A

AMP LIMITED: ANZ Bank Denies Takeover Rumors
AVAIL SUPERANNUATION: To Hold General Meeting February 21
BELL PTY: Sets February 14 as Date of Final Meeting
BOBWAY PTY: Final Meeting Slated for February 11
BOUNTY PTY: To Declare Final Dividend February 11

CASTLE ROSE: Members Pass Resolution During Meeting
DIPLOID PTY: Faces Voluntary Winding Up Proceedings
DOONAN DEVELOPMENTS: Lays Out Agenda for Final Combined Meeting
FAMIT PTY: Final Meeting Slated for February 17
FIRMA ENTERPRISES: Members Resolve to Wind Up Company

GE & JR: Members to Meet February 14
JOMASU PTY: To Hold Final Meeting February 21
KALMAR PROPERTIES: To Hear Liquidator's Report During Meeting
KELLY FARMING: Appoints Liquidator for Winding Up Purposes
LITTLE BIG: Liquidators Appointed to Wind Up Company

M&S CLASSIC: Lays Out Agenda for Final Meeting
M&T HIDDING: Appoints Liquidator from KPMG
NORMANS WINES: Former Secretary in Court on Fraud Counts
NORMANS WINES: To Declare Final Dividend March 8
PRECOL PTY: Members to Meet February 11

TARLOMEENE PTY: To Declare Final Dividend February 14
WALTER CONSTRUCTION: Collapse Imperils 1,000 Jobs
WILLIAMS EARTHMOVING: Members Agree to Wind Up Company


C H I N A  &  H O N G  K O N G

CREATE DEAL: To Undergo Winding Up Proceedings
CYGNE INTERNATIONAL: Creditors Invited to Prove Debts, Claims
DESMOND: Creditors Should Prove Claims February 28
HEROPLAN GARMENTS: Faces Winding Up Proceedings
HIGH POLYMERS: Receives Winding Up Order from Court

KONG WAH: Sets Creditors, Members Meeting February 18
LIN'S MEDICINE: Petition for Winding Up to be Heard March 9
MAXWAY HONG: Receives Winding Up Order from Court
MIL-FLOW: Court Issues Winding Up Order
ZHUANG PP: Court to Hear Winding Up Petition March 23


I N D O N E S I A

PERTAMINA: Aceh Oil Production Back to Normal
TOTAL E&P: Bankruptcy Case Could Scare Investors Away


J A P A N

ASHIKAGA BANK: Former Execs Face Suit for Window Dressing
DAIEI INCORPORATED: Plans to Withdraw from Offshore Operations
FUJITSU LIMITED: Mulls Sale of LCD-Panel Unit
KII KOGEN: Falls Into Bankruptcy
SOJITZ HOLDINGS: Revises Conversion Price of Convertible Bonds

TOHOKU MISAWA: JCR Downgrades Long-term Debt to BB-
UFJ HOLDINGS: Posts Net Loss of JPY814.1 Bln


K O R E A

JINRO LTD: Bidders Seek Partners to Make Joint Bid
KOREA EXCHANGE: Nets Profit, Reverses Losses in 2004


M A L A Y S I A

ACTACORP HOLDINGS: Bourse to Delist Securities on Feb. 17
AKTIF LIFESTYLE: Seeking New Core Businesses
BOUSTEAD HOLDINGS: Requests Suspension of Shares Trading
GOLDEN FRONTIER: Notes Listing of Additional Shares
GULA PERAK: Lists Additional Shares

I-BERHAD: Releases Shares Buy Back Notice
MALAYSIAN INDUSTRIAL: Unveils Employee Share Option Scheme
NAM FATT: Releases Listing of Additional Shares
PADIBERAS NASIONAL: Discloses Additional Shares Listing
PAN PACIFIC: Proposed Restructuring Scheme Pending Approval

POS MALAYSIA: Resells 200,000 Treasury Shares
RHB CAPITAL: Unit Director Disposes of Property Upon Retirement
SATERAS RESOURCES: Amends Feb. 2 Disclosure
TALAM CORPORATION: Redeems Outstanding Bonds
WCT ENGINEERING: Lists 30,400 New Shares


P H I L I P P I N E S

COLLEGE ASSURANCE: Senator Threatens to Bust Execs
NATIONAL POWER: YNN Intends to Operate Masinloc
PILIPINO TELEPHONE: Calls for Ban on Sun's Unlimited Calls Promo
PILIPINO TELEPHONE: Director Steps Down
SANITARY WARES: Court Declares Insolvency


S I N G A P O R E

CAMILLIA ENTERPRISE: Requests to be Struck Off
ELOGICITY INTERNATIONAL: To Undergo Winding Up Proceedings
HOOKED ON: Receives Winding Up Order
KOH BROTHERS: Sets EGM March 2
MEDIASTREAM LIMITED: Nominates Timothy Reid as Judicial Manager

PCS MOBILE: Creditors Given Until March 4 to Prove Claims, Debts
STAR CRUISE: Creditors Given Until March 4 to Prove Claims
THAKRAL CORPORATION: Issues Request for Trading Halt
WEE POH: Requests Trading Halt
WELLMAC INTERNATIONAL: Court Issues Winding Up Order


T H A I L A N D

THAI WAH: Releases Audited, Consolidated Yearly FS
THAI WAH: Meeting Resolves Not to Pay Dividend
THAI WAH: Issues Explanation for Variance of Profit
TONGKAH HARBOUR: Clarifies Khao Hun News Article
BOND PRICING: For the Week 31 January to 04 February 2005

     -  -  -  -  -  -  -  -

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


AMP LIMITED: ANZ Bank Denies Takeover Rumors
--------------------------------------------
ANZ Bank Limited stressed that it is not currently keen on
making a takeover bid for AMP Limited, according to Asia Pulse.

ANZ dismissed speculations that it was considering a takeover
bid for the financial services group, saying the bank is not
interested in making "dilutive acquisitions" for fund managers
at present.

But analysts believe that ANZ was discouraged by AMP's price,
which had become too expensive even for the big banks.

On AMP's current share price, an acquisition would be earnings
dilutive for any of the local big banks, which are trading on
lower price-to-earnings multiples than AMP.

The ANZ is on a price/earnings multiple of about 12, whereas AMP
is at about 18.

Investors have been anticipating AMP's AU$1 billion (US$775.45
million) buyback, which is to be announced on February 17 along
with AMP's full year results.

CONTACT:

AMP Limited
Level 24, 33 Alfred St.
Sydney 2000, Australia
Phone: +61-2-9257-5000
Fax: +61-2-8275-0199


AVAIL SUPERANNUATION: To Hold General Meeting February 21
---------------------------------------------------------
Notice is given that a general meeting of members of Avail
Superannuation 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 2:00 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 Vic 3550


BELL PTY: Sets February 14 as Date of Final Meeting
---------------------------------------------------
Notice is given that pursuant to Section 509 of the Corporations
Act, the final meeting of the members of Bell (Eskdale South)
Pty Ltd (In Voluntary Liquidation) A.C.N. 009 775 115 will be
held in the meeting room of SimsPartners, Level 11, 145 Eagle
Street, Brisbane, Queensland, on February 14, 2005 at 9:00 a.m.

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

(2) Any other business.

Dated this 22nd day of December 2004

Maree Henry
Ray Richards
Joint and Several Liquidators
SimsPartners
Level 11, 145 Eagle Street,
Brisbane Qld 4000
Telephone: (07) 3831 2700


BOBWAY PTY: Final Meeting Slated for February 11
------------------------------------------------
Notice is hereby given that pursuant to Section 509 of the
Corporations Act a final meeting of Bobway Pty Ltd (In Voluntary
Liquidation) A.C.N. 007 657 598 will be held at 248 Flinders
Street, Adelaide on February 11, 2005 at 10:00 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 23rd day of December 2004

George Divitkos
Liquidator
BDO
Chartered Accountants & Advisers
248 Flinders Street, Adelaide SA 5000


BOUNTY PTY: To Declare Final Dividend February 11
-------------------------------------------------
A final dividend is to be declared on February 11, 2005 for
Bounty (Victoria) Pty Ltd (Subject To Deed Of Company
Arrangement) A.C.N. 089 020 860.

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

Dated this 23rd day of December 2004

Martin Jones
Joint and Several Deed Administrator of Bounty
(Victoria) Pty Ltd
Ferrier Hodgson
Chartered Accountants
Level 26, BankWest Tower,
108 St George's Terrace,
Perth WA 6000


CASTLE ROSE: Members Pass Resolution During Meeting
---------------------------------------------------
At a general meeting of the members of Castle Rose Park Estate
Pty Ltd A.C.N. 008 714 734 duly convened and held at 8 St
Georges Terrace, Perth WA, on December 30, 2004 the special
resolutions set out below were duly passed:

That the Company be wound up under the provisions applicable to
a Members' Voluntary Liquidation and that Angela Ann Gaffney be
and is hereby appointed Liquidator of the Company.

That the Liquidator is hereby authorized to distribute in specie
such of the assets as she sees fit and on such conditions as she
deems necessary to any one or more of the members of the
Company.

Dated this 30th day of December 2004

B. P. Kakulas
Director
RSM Bird Cameron
1st Floor, 8 St Georges Terrace,
Perth WA 6000


DIPLOID PTY: Faces Voluntary Winding Up Proceedings
---------------------------------------------------
Notice is hereby given that pursuant to Section 509 of the
Corporations Act a final meeting of Diploid Pty Ltd (In
Voluntary Liquidation) A.C.N. 009 643 681 will be held at 248
Flinders Street, Adelaide, on February 11, 2005 at 9:30 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 21st day of December 2004

George Divitkos
Liquidator
BDO
Chartered Accountants & Advisers
248 Flinders Street, Adelaide SA 5000


DOONAN DEVELOPMENTS: Lays Out Agenda for Final Combined Meeting
---------------------------------------------------------------
Notice is hereby given that a final combined meeting of the
members and creditors of Doonan Developments Pty Ltd (In
Liquidation) A.C.N. 081 785 122 will be held at the offices of
Knights Insolvency Administration, 14th Floor, Brisbane Club
Tower, 241 Adelaide Street, Brisbane Qld 4000 on Friday,
February 11, 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 21st day of December 2004

Jonathan Mcleod
Joint & Several Liquidator


FAMIT PTY: Final Meeting Slated for February 17
-----------------------------------------------
Notice is given that pursuant to Section 509(1) of the
Corporations Law, a final meeting of members for each of Famit
Pty Ltd A.C.N. (In Liquidation) 005 077 181 will be held in the
Meeting Room, Members Voluntarys Pty Ltd 1st Floor, 10 Park
Road, Cheltenham on February 17, 2005 at 10:15 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


FIRMA ENTERPRISES: Members Resolve to Wind Up Company
-----------------------------------------------------
At an Extraordinary General Meeting of the Companies held on
December 22, 2004, Firma Enterprises Ltd Pty Ltd (In
Liquidation) A.C.N. 112 014 785 members resolved to wind up the
Companies voluntarily and to appoint Anthony Stevens Smith and
Timothy Paul Burfield of Ernst & Young, 91 King William Street,
Adelaide, South Australia, as joint and several Liquidators of
the Company.

Dated this 23rd day of December 2004

Anthony Stevens Smith
Timothy Paul Burfield
Joint and Several Liquidators
Ernst & Young
91 King William Street,
Adelaide SA 5000
Telephone: 8233 7111


GE & JR: Members to Meet February 14
------------------------------------
Notice is hereby given that pursuant to section 509 of the
Corporations Act 2001, the final meeting of members of GE & JR
Harvey Pty Limited (In Liquidation) A.C.N. 007 986 003 will be
held at the offices of the liquidator of 28 Lower Portrush Road,
Marden, SA 5070, on February 14, 2005 at 10 o'clock in the
morning for the purpose of laying before the meeting the
liquidator's final account and report and giving any explanation
thereof.

Dated this 23rd day of December 2004

Anthony John Ryan
Liquidator
28 Lower Portrush Road, Marden SA 5070


JOMASU PTY: To Hold Final Meeting February 21
---------------------------------------------
Notice is hereby given that pursuant to Section 509 of the
Corporations Law the final meeting of the members of Jomasu Pty
Ltd (In Liquidation) A.C.N. 007 632 359 will be held at 305
Unley Road, Malvern, South Australia, on February 21, 2005 at
3:00 p.m. for the purpose of laying before the meeting the
liquidator's final account and report and giving any explanation
thereof.

Dated this 29th day of December 2004

J. J. Boyce
Liquidator
Walsh Boyce Key
Chartered Accountants
305 Unley Road, Malvern SA 5061


KALMAR PROPERTIES: To Hear Liquidator's Report During Meeting
-------------------------------------------------------------
Notice is hereby given that pursuant to Section 509 of the
Corporations Act, a final meeting of Kalmar Properties Pty Ltd
(In Voluntary Liquidation) A.C.N. 004 265 445 will be held at
248 Flinders Street, Adelaide on February 11, 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 20th day of December 2004

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


KELLY FARMING: Appoints Liquidator for Winding Up Purposes
----------------------------------------------------------
Notice is hereby given that at a General Meeting of Kelly
Farming Co. Pty Ltd A.C.N. 008 725 568 held on December 23, 2004
it was resolved that the Company be wound up voluntarily as a
Members' Voluntary Winding up and that for such a purpose, Mark
William Thornton be appointed liquidator.

Dated this 23rd day of December 2004

Mark William Thornton
Liquidator


LITTLE BIG: Liquidators Appointed to Wind Up Company
----------------------------------------------------
Notice is hereby given that at a Meeting of Members of Little
Big Top Circus Inc. (In Liquidation) Org No: A0025694H held on
December 23, 2004, it was resolved that the incorporated
association be wound up voluntarily and at a Meeting of the
Creditors held on the same day pursuant to Section 497, it was
resolved that for such purpose, Barry Keith Taylor, of B.K.
Taylor & Co., 8th Floor, 608 St Kilda Road, Melbourne be
appointed Liquidator.

Dated this 23rd day of December 2004

Barry Keith Taylor
Liquidator


M&S CLASSIC: Lays Out Agenda for Final Meeting
----------------------------------------------
Notice is hereby given that a final meeting of creditors of M&S
Classic Furniture Pty Limited (In Liquidation) A.C.N. 081 893
987 will be held at Bernardi Martin, Level 1, 195 Victoria
Square, Adelaide on February 9, 2005 at 4:00 p.m.

AGENDA

To consider how the winding up of the Company has been
conducted, how the property of the Company has been disposed of
and the destruction
of the Company's books & records after 6 months.

Dated this 20th day of December 2004

Hugh Martin
Liquidator

Accounts in the form prescribed by section 539 of the
Corporations Act have been made up and have been filed with the
Australian Securities and Investments Commission.


M&T HIDDING: Appoints Liquidator from KPMG
------------------------------------------
Notice is hereby given that at a General Meeting of Members of
M&T Hidding Pty Limited (In Voluntary Liquidation) A.C.N. 009
520 950 duly convened and held at Wielangta, Jetty Road, Legana,
Tasmania on December 17, 2004, a Special Resolution that the
Company be wound up voluntarily was passed by members and
Michael Henry Cooke was appointed Liquidator.

Dated this 20th day of December 2004

Michael Henry Cooke
Liquidator
c/- KPMG
Level 2, 33 George Street,
Launceston Tas 7250


NORMANS WINES: Former Secretary in Court on Fraud Counts
--------------------------------------------------------
The former Company Secretary of Normans Wines Limited (In
Liquidation) (Normans Wines), Mr. Robert Mark Horlin-Smith today
appeared in the Adelaide Magistrates Court on seven charges
arising from an investigation by the Australian Securities and
Investments Commission (ASIC).

Mr. Horlin-Smith, 46 years, of Erindale in South Australia, was
the Company Secretary of Normans Wines between 18 October 1994
and 24 December 1999.

As a result of an investigation, ASIC alleges that between June
1999 and October 1999, Mr. Horlin-Smith:

- failed to act honestly in the exercise of his powers and the
discharge of the duties of his office with the intention to
deceive or defraud the auditor of Normans Wines;

- as a secretary and employee of Normans Wines, supplied
misleading information to the Company's auditor;

- as a secretary and employee of Normans Wines, supplied
misleading information to the Australian Stock Exchange about
the Company; and

- authorized the making of a statement in a document lodged with
ASIC which was false or misleading.

- The charges are being prosecuted by the Commonwealth Director
of Public Prosecutions.

Mr. Horlin-Smith was required to enter into a bail agreement in
the sum of $1,000.

Mr. Horlin-Smith has been remanded to re-appear in the Adelaide
Magistrates Court on 18 March 2005 for declarations to be filed,
and again on 15 April 2005 to answer charges.  

CONTACT:

Normans Wines Limited
Level 1, 28 Dequetteville Tce
Kent Town 5056
P.O. Box 62, Kent Town DC
South Australia 5071
Phone: +618 8331 3000
Fax: +618 8331 3377


NORMANS WINES: To Declare Final Dividend March 8
------------------------------------------------
A first dividend is to be declared on March 8, 2005 for Normans
Wines Limited (In Liquidation) (Normans) A.C.N. 007 206 484.

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

Dated this 4th day of January 2005

Anthony Stevens Smith
Timothy Paul Burfield
Joint Liquidators
Ernst & Young
Chartered Accountants
Level 21, 91 King William Road,
Adelaide SA 5000
Telephone: 8233 7111


PRECOL PTY: Members to Meet February 11
---------------------------------------
Notice is hereby given pursuant to Section 509 of the
Corporations Act that the Final Meeting of Members of Precol Pty
Ltd (Members' Voluntary Liquidation) A.C.N. 004 791 379 will be
held at the offices of WHK Smith Read, Level 3, 293 Camberwell
Road, Camberwell Vic 3124 on Friday, February 11, 2005 at 10:30
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


TARLOMEENE PTY: To Declare Final Dividend February 14
-----------------------------------------------------
A first and final dividend is to be declared on February 14,
2005 for Tarlomeene Pty Ltd (In Liquidation) A.C.N. 007 785 506.

Creditors whose debts or claims have not already been admitted
are required on 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


WALTER CONSTRUCTION: Collapse Imperils 1,000 Jobs
-------------------------------------------------
Around 1,000 workers hired by the failed Walter Construction
Group face unemployment after the Company followed its German
parent into liquidation last week, relates The Age.

The construction and mining firm's workforce is now fighting for
entitlements worth an estimated AU$20 million.

Following Walter's collapse, Construction Forestry Mining and
Energy Union (CFMEU) members and subcontractors stopped work at
Walter sites, urging the federal government to guarantee payment
of their claims.

Meanwhile, Leighton Holdings and other major builders are tipped
to acquire Walter's assets.

Two years ago, Leighton tried to buy a portion of Walter's
business at a cheaper price. With Walter's present status,
Leighton companies now have a bigger chance to take on parts of
Walter's businesses.

Walter Construction was forced into voluntary administration
Tuesday last week after its German parent, Walter Bau, filed for
insolvency when it failed to secure a line of credit from its
financiers. Martin Madden and David Winterbottom, from
KordaMentha, were appointed as administrators.


WILLIAMS EARTHMOVING: Members Agree to Wind Up Company
------------------------------------------------------
Notice is given under Subsection 491(2)(b) that at a meeting of
members held on December 22, 2004, the members of Williams
Earthmoving Queensland Pty Ltd (In Liquidation) A.C.N. 083 311
362 resolved that the Company be wound up and that Gerald T.
Collins and Matthew L. Joiner be nominated as Joint and Several
Liquidators, and that at a separately convened meeting of
creditors held later the same day, the creditors confirmed the
appointment.

Dated this 22nd day of December 2004

Matthew L. Joiner
Joint and Several Liquidator
Horwath Jefferson Stevenson
Chartered Accountants
Level 4, 370 Queen Street,
Brisbane Qld 4000


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C H I N A  &  H O N G  K O N G
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CREATE DEAL: To Undergo Winding Up Proceedings
----------------------------------------------
A winding up order has been issued for Create Deal International
Limited of Room 1903, 19/F, Kaiyue Commercial Bldg, 2c Argyle
Street, Mongkok, KLN on January 26, 2005 by the High Court of
the Hong Kong Special Administrative Region Court Of First
Instance.

The winding up petition was presented December 2, 2004.


CYGNE INTERNATIONAL: Creditors Invited to Prove Debts, Claims
-------------------------------------------------------------
Notice is hereby given that the creditors of Cygne International
(Hong Kong) Company Limited (In Creditors' Voluntary
Liquidation), which is being voluntarily wound up, are required
on or before February 25, 2005 to send in their names and
addresses, full particulars of their debts and claims.

The creditors should also submit the names and addresses of
their solicitors (if any) to the Joint and Several Liquidators
of the Company at Messrs. Kennic L. H. Lui & Co., 5th Floor, Ho
Lee Commercial Building, 38-44 D'Aguilar Street, Central, Hong
Kong.

They must also and if so required by notice in writing from the
said Joint and Several Liquidators, either by themselves or by
their solicitors to come in and prove their said debts or claims
at such time and place as shall be specified in such notice, or
in default thereof, they will be excluded from the benefit of
any distribution before such debts are proved.

Dated this 4th day of February 2005

Kennic Lai Hang Lui
Lau Wu Kwai King Lauren
Joint and Several Liquidators


DESMOND: Creditors Should Prove Claims February 28
--------------------------------------------------
Notice is hereby given, pursuant to Rule 4, 192A of the
Insolvency Rules (N1) 1991, that the Joint Liquidators of
Desmond & Sons Limited (In Members' Voluntary Liquidation)
intend making a final distribution to creditors.

Creditors of the Company, who have not already done so, are
required to prove their debts before 28 February 2005, by
sending to Thomas Martin Keenan, Joint Liquidator, at 19 Bedford
Street, Belfast, BT2 7EJ, written statements of the amount they
claim to be due to them form the Company.

They must also, if so requested, provide such further details or
produce such documentary or other evidence as may appear to the
Joint Liquidators to be necessary. A creditor who has not proved
his debt before 28 February 2005, or who increases the claim in
his proof after that date, will not be entitled to disturb the
intended final distribution.

The Joint Liquidators may make the intended distribution without
regard to the claim of any person in respect of a debt not
proved by that date.

The Joint Liquidators intend that, after paying or providing for
a final distribution in respect of the claims of all creditors
who have proved their debts, the funds remaining in the hands of
the Joint Liquidators shall be distributed to shareholders
absolutely.

Dated this 21st day of January 2005

Thomas Martin Keenan and John Charles Reid
Joint Liquidator
Deloitte & Touche LLP,
19 Bedford Street, Belfast BT2 7EJ and
Saltire Court, 20 Castle Terrace,
Edinburgh EH1 2DB


HEROPLAN GARMENTS: Faces Winding Up Proceedings
-----------------------------------------------
The High Court Of The Hong Kong Special Administrative Region
Court Of First Instance has issued a winding up order for
Heroplan Garments Limited of Blk A, 3rd Floor, Wah Hung Center,
41 Hung To Rd, Kwun Tong, KLN on January 26, 2005.

The winding up petition was presented December 2, 2004.


HIGH POLYMERS: Receives Winding Up Order from Court
---------------------------------------------------
The High Court Of The Hong Kong Special Administrative Region
Court Of First Instance has issued a winding up order for High
Polymers Pacific Limited of Unit 2, 4/F, Blk A Ko Fai Industrial
Bldg, No 7 Ko Fai Road, KLN on January 26, 2005.

The winding up petition was presented December 2, 2004.


KONG WAH: Sets Creditors, Members Meeting February 18
-----------------------------------------------------
Notice is hereby given that pursuant to Section 247 of the
Companies Ordinance (Chapter 32), Annual Meeting of the Members
and Creditors of Kong Wah Electronic Enterprises Limited (In
Creditors' Voluntary Liquidation) will be held at 7th Floor,
Allied Kajima Building, 138 Gloucester Road, Wanchai, Hong Kong
on February 18, 2005 at 11:00 a.m. for the members.

Creditors of the Company will hold also hold a meeting at the
same place at 11:30 a.m. for the purpose of receiving an account
of the liquidator's act and dealings and of the conduct of the
winding up of the Company during the year ended 22nd November
2004.

Forms of proxies for both meetings must be lodged at 7th Floor,
Allied Kajima Building, 138 Gloucester Road, Wanchai, Hong Kong
not later than 4:00 p.m. on the day before the meeting or
adjourned meeting at which it is to be held.

Dated this 4th day of February 2005

Nicholas Timothy Cornforth Hill
Joint and Several Liquidator
Presented by: RSM Nelson Wheeler Corporate Advisory Services
Limited


LIN'S MEDICINE: Petition for Winding Up to be Heard March 9
-----------------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Lin's Medicine and Health Care Manufacture Enterprise Limited by
the High Court of Hong Kong was on the 7th day of January, 2005
presented to the said Court by Wong Yuen Man of 2/F., 70 Fan
Leng Lau Village, Fanling, New Territories, Hong Kong.  

That the said petition is directed to be heard before the Court
at 9:30 a.m. on the 9th day of March 2005 and 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 abovenamed, 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
abovenamed not later than six o'clock in the afternoon of March
8, 2005.


MAXWAY HONG: Receives Winding Up Order from Court
-------------------------------------------------
Maxway Hong Kong Limited Of Unit A, 3rd Floor, Wah Hung Centre,
41 Hung To Rd, Kwun Tong, Kln has received a winding up order
from the High Court of the Hong Kong Special Administrative
Region Court of First Instance on January 26, 2005.

The winding up petition was presented December 2, 2004.


MIL-FLOW: Court Issues Winding Up Order
---------------------------------------
A notice of winding up order has been issued for Mil-Flow
Limited of Office 1 And 2, 13th Floor Bupa Centre, 143 Connaught
Rd West, HK on January 26, 2005 by the High Court of the Hong
Kong Special Administrative Region Court Of First Instance.

The winding up petition was presented November 24, 2004.


ZHUANG PP: Court to Hear Winding Up Petition March 23
-----------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Zhuang PP Holdings Limited by the High Court of Hong Kong
Special Administrative Region was on January 21, 2005 presented
to the said Court by International Bank of Asia Limited, whose
registered office is situated at International Bank of Asia
Building, 38 Des Voeux Road, Central, Hong Kong.  

That the said Petition is directed to be heard before the Court
at 9:30 a.m. on March 23, 2005 and 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.

Clifford Chance
Solicitors for the Petitioner
29th Floor, Jardine House
One Connaught Place
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 abovenamed, 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 abovenamed not later
than six o'clock in the afternoon of March 22, 2005.


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


PERTAMINA: Aceh Oil Production Back to Normal
---------------------------------------------
State oil and gas Company Pertamina's oil production in Aceh and
North Sumatra has returned to its normal level after falling by
50% in January, reports Antara News.
    
"Oil production declined due to floods. But now it has returned
to its normal level of above 5,000 bpd," the Company's general
manager for upstream operations (DOH) in Nanggroe Aceh
Darussalam and North Sumatra Ridwan Nyak Baik said on Feb. 3.
     
Under normal conditions, he said, Pertamina's oil output from
the areas could reach 5,100 to 5,200 bpd. The floods hampered
the Company's oil production operations in the Rantau fields as
four of its high-pressure compressor stations (HPCS) were
submerged, he said.
    
The HPCS provides lighting in the Company's housing complex and
to pump oil from the Rantau field to the Pangkalan Brandan
processing unit. "All those facilities were affected because the
HPCS could not be operated. But operations in another site
(Pangkalan Susu) were not disturbed although production there is
small," Mr. Ridwan said.
    
The Company increased its efforts to repair the damage to its
installation and stimulate production in shallow wells (around
400 meters below the earth's surface), in order to maintain
regional operations.
    
"The scenario to stimulate (production) in prospective shallow
zones would also be used as our operational strategy in 2005,"
Mr. Ridwan said.
    
Mr. Ridwan was happy with the success of the oil production
activity in Aceh and North Sumatra considering that oil wells in
the region are old ones that had been operated for more than 80
years.

CONTACT:

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


TOTAL E&P: Bankruptcy Case Could Scare Investors Away
-----------------------------------------------------
The legal battle involving Total E&P Indonesie and its
contractors has just began, and yet it is already sending a bad
sign about Indonesia's investment climate, according to the
Jakarta Post.

On Jan. 14, PT Istana Karang Laut and PT Sanggar Kaltim Jaya
filed a bankruptcy petition in the Jakarta Commercial Court
against the local affiliate of French oil giant Total SA,
accusing the Company of breaching a contract over a project by
failing to pay US$7.2 million in claims.

The Company denies the claim, saying there is no substantial
evidence of such debt and insists they have fulfilled all their
obligations to the contractors.

Indonesian Petroleum Association (IPA) President Chris B. Newton
expressed fears the case would scare away much-needed foreign
investment. He said that investors might find it puzzling that a
large, financially sound Company like Total could be declared
"bankrupt" in Indonesia over relatively small amounts of funds.  

However, the contractors' lawyer, O.C. Kaligis, argued that the
case should not be seen as a threat to foreign investors as all
companies operating in Indonesia must abide by the law, saying
that "this is a simple case of Total owing money that it has to
pay."

CONTACT:

Total E&P Indonesia
Plaza Kuningan Manara Utara
JL. H.R Rasuna Said Kav C.11-14
P.O Box 1010
12940 Jakarta, Indonesia
Phone: + 62 21 523 1999
Fax:   + 62 21 523 1888


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


ASHIKAGA BANK: Former Execs Face Suit for Window Dressing
---------------------------------------------------------
Rehabilitating Ashikaga Bank has on Friday sued three of its
former presidents and 10 other former executives for losses
allegedly incurred through their illegal practices, Japan Times
reports, citing Kyodo News.

In three separate lawsuits lodged with the Utsunomiya District
Court, the bank is seeking a total of JPY4.6 billion in damages
from the 13 defendants.

The Utsunomiya-based regional bank accused the executives of
making illegal dividend payouts and extended loans that were
deemed irrecoverable.

The bank alleged the defendants had made illegal dividend
payments of JPY1.1 billion to the holders of preferred shares by
window-dressing the bank's financial statements for fiscal 2000.

The bank also said the former executives had extended loans to
Shimoren, a construction materials trading Company in Tochigi
Prefecture which later went bankrupt, and Arakawa Kanko
Kaihatsu, a golf course operator in Saitama Prefecture, despite
knowing the loans would not be repaid.

Ashikaga Bank collapsed in 2001 after its officials mismanaged
and tampered with the bank's accounts. It was discovered that in
its financial statements submitted in June 2001, the bank
underreported future losses on bad loans and declared overly
optimistic earnings forecast.

CONTACT:

Ashikaga Bank Limited (The)
1-25 Sakura 4-Chome
Utsunomiya 320-8610, Tochigi 320-8610
Japan
Phone: +81 28 622 0111
Fax: +81 28 625 5546
Web site: http://www.ashikagabank.co.jp/


DAIEI INCORPORATED: Plans to Withdraw from Offshore Operations
--------------------------------------------------------------
Daiei Incorporated plans to pull out from its offshore ventures
in order to focus its management resources on local supermarket
operations, Kyodo News reports.

Under a revival scheme mapped out by the state-backed Industrial
Revitalization Corporation of Japan (IRCJ), the embattled
retailer will shut down 16 stores in China and Hawaii and
concentrate mainly in the greater Tokyo and Osaka areas.  

Daiei has been negotiating with Chinese administrative
authorities for the sale of its 12 outlets in China's Tianjin to
prospective buyer, Wumart Stores Incorporated.

The Company is likewise planning to dispose of four outlets in
Hawaii as they do not contribute significantly to the
performance of the Daiei group.

The IRCJ plans to shut down and divest 53 of Daiei's 263
existing outlets mainly general merchandise stores and open 100
new supermarkets in five years.

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: http://www.daiei.co.jp


FUJITSU LIMITED: Mulls Sale of LCD-Panel Unit
---------------------------------------------
Fujitsu Limited is considering selling its lackluster LCD-panel
business to Sharp Corporation, Reuters reports.

The move would jump-start the Japanese chips-to-computers
conglomerate's exit from the cutthroat competition in the flat-
panel market, which has been adversely affected by plunging
prices and dwindling consumer demand.

A Fujitsu spokesman, however, declined to confirm the reports,
saying the Company is in talks with Sharp but no agreement has
been reached yet.

Unlike Hitachi Limited, Fujitsu has been unable to profit from a
manufacturing-to-consumer business line since it doesn't sell
LCD television sets or plasma T.V. sets. Fujitsu has hinted on
selling a 30.1 percent stake in its 50-50 plasma joint venture
to existing partner, Hitachi, in April.

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/


KII KOGEN: Falls Into Bankruptcy
--------------------------------
Golf course operator Kii Kogen K.K. has entered bankruptcy,
according to Teikoku Databank America.

The firm, based in Ito-gun, Wakayama 649-7143, has total
liabilities of US$32.69 million.

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


SOJITZ HOLDINGS: Revises Conversion Price of Convertible Bonds
--------------------------------------------------------------
Sojitz Holdings Corporation has notified the revision of the
conversion price of 1st Series Unsecured Convertible Bonds Due
October 2006 as follows.

(1) Revision of conversion price

1st Series Unsecured Convertible Bonds Due October 2006
(guaranteed by Sojitz
Corporation)
Current conversion price: JPY402.4
Revised conversion price: JPY419.2

(2) Effective date: As from February 5, 2005

(3) Reasons for revision

The revision is made in accordance with the provisions as
specified in the terms and conditions.

CONTACT:

Sojitz Holdings Corporation
1-20 Akasaka 6-chome, Minato-ku
Tokyo, 107-8655, Japan
Phone: +81-3-5446-3600
Fax: +81-3-5446-1542
Web site: http://www.sojitz-holdings.com


TOHOKU MISAWA: JCR Downgrades Long-term Debt to BB-
---------------------------------------------------
The Japan Credit Rating Agency (JCR) has downgraded the rating
on the long-term debts of Tohoku Misawa Homes Co., Ltd. from BB+
to BB-.

Rationale:

Revenue of Tohoku Misawa Homes has been declining in the face of
severe business environment with the brand image lowering.
Support from the Industrial Revitalization Corporation of Japan
has been decided. The debts owed by Tohoku Misawa Homes to the
financial institutions will not be forgiven or discounted unlike
other debts owed by other group companies.

The revitalization plan aims to allocate the management
resources of the group to the housing division. This will reduce
the materials costs for Tohoku Misawa Homes. However, it will
take time to normalize the construction completion time of year.
There is also uncertainty over improvement in the impaired brand
image. The sales will not be increased until fiscal 2006 ending
March 31, 2007. Although it is unlikely that the financial
structure will deteriorate sharply in the future, it will be
weakened than before due to write-downs of the assets in line
with introduction of accounting for impaired fixed assets.

CONTACT:

Tohoku Misawa Homes Co., Ltd.
3-1 Chuo 1-Chome
Aoba-Ku, Sendai 980-6161, Miyagi 980-6161
Japan  
Phone: +81 22 724 3301
Fax: +81 22 724 3308  
Web site: http://www.t-misawa.co.jp/


UFJ HOLDINGS: Posts Net Loss of JPY814.1 Bln
--------------------------------------------
In the consolidated financial results for the 9 months ended
December 31, 2004, UFJ Holdings Incorporated posted a gross
operating profit of JPY1,153.9 billion, an ordinary loss of
JPY643.3 billion, and a net loss of JPY385.7 billion.

Gross operating profit decreased by JPY33.3 billion compared
with the same period of the previous year to JPY940.9 billion,
due to a decrease in gains on bonds. The performance of each
business division was steady.

General and administrative expenses declined by JPY23.7 billion
to JPY404.5 billion, largely due to the significant reduction in
employee bonuses.

As a result, business profit before net transfer to general
reserve decreased by JPY9.6 billion to JPY536.3 billion.
Business profit before net transfer to general reserve,
excluding gains on bonds, increased by JPY19.9 billion to
JPY455.5 billion.

The Company posted an ordinary loss of JPY814.1 billion for the
period. The major reasons are as follows.

(1) The Company recognized losses on stocks and other equity
securities of JPY224.2 billion, due to the impairment of certain
borrowers' preferred stocks which UFJ underwrote in the process
of supporting the borrowers' business revitalization.

(2) Credit costs totaling JPY1,022.8 billion were reported
because we needed to make additional reserves in order to
support large borrowers' significant revitalization, and also
because the Company promoted other activities, including loan
sales, to dispose of non-performing assets.

To view the entire financial information, click on:
http://bankrupt.com/misc/TCRAP_UFJHOLDINGS020705.pdf

CONTACT:

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


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


JINRO LTD: Bidders Seek Partners to Make Joint Bid
--------------------------------------------------
Bidders for Jinro Ltd. are on the lookout for a suitable
acquisition partner before a Feb. 14 deadline for submitting a
letter of intent, the Korea Herald reports.

According to industry sources, Lotte Group, Doosan Corp., CJ
Corp., Hite Brewery Co. and Taihan Electric Wire Co. are
searching for the most compatible partners to make a joint bid.

Jinro Ltd., which went under court receivership in 2003, was put
up for sale on Feb. 1. Because of its strong cash flow and
potential to grow into a global brand, it is considered as one
of the biggest takeover deals in Asia.

Industry sources said the competitors are expected to complete
their search by Feb. 10, the end of the official three-day Lunar
New Year celebration.

"We plan to choose our partners before the holiday is over, but
this is not for certain," said a spokesperson of a Company
interested in bidding. "All competing bidders could be fighting
till the very last minute to find the best partners."

After the letters of intent are received, Jinro will select
candidates for due diligence, which is scheduled from Feb. 17 to
March 29. Merril Lynch & Co. is managing the Company sale.

CONTACT:

Jinro Limited
1448-3 Seocho-dong Seocho-gu
Jinro Bldg
Seoul, SEOUL 137-866
South Korea
Phone: +82 2 520 3114; +82 2 520 3453
Web site: http://www.jinro.co.kr/


KOREA EXCHANGE: Nets Profit, Reverses Losses in 2004
----------------------------------------------------
Korea Exchange Bank (KEB) said it posted a net profit of
KRW522.1 billion last year, a major turnaround from the KRW213.8
billion loss it sustained in 2003, according to The Korea Times.

The bank attributed the reversal to falls in provisioning costs
to cover possible loan losses, adding that diverse banking
services developed by the Company also contributed to boosting
its earnings.

Operating profit jumped 121% to KRW453.4 billion, and revenue
increased 33.5% to KRW6.5 trillion. Operating income before
provisions rose from KRW673.6 billion in 2003 to KRW1.45
trillion. KEB set aside KRW231.8 billion as its costs to cover
bad loans.

Interest income, meanwhile, increased to KRW3.1 trillion from
KRW2.8 trillion, and commission income went up to KRW677.9
billion from KRW350.9 billion.

KEB's total assets, however, fell to KRW61.3 trillion last year
from KRW62.6 trillion in 2003, while recurring profit stood at
KRW513.9 billion, reversing a KRW219.6 billion loss.

The bank said it aggressively wrote off its bad assets in card
operations, and improving asset quality in its card operations
will make a greater contribution to its earnings this year.

KEB, South Korea's fifth-largest lender, is controlled by U.S.
equity fund Lone Star, which acquired a 51% stake in October
2003.

CONTACT:

Korea Exchange Bank
181 2-ga Ulchiro, Chung-gu
Seoul, 100-793, South Korea
Phone: +82-2-729-8000
Fax:   +82-2-752-3141
Web site: http://www.keb.co.kr/english/index.htm


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


ACTACORP HOLDINGS: Bourse to Delist Securities on Feb. 17
---------------------------------------------------------
After having considered all the facts and circumstances of the
matter and upon consultation with the Securities Commission,
Bursa Malaysia Securities Berhad (Bursa Securities) in the
exercise of its powers under paragraph 16.17 of Bursa
Securities' Listing Requirements, has decided to de-list the
securities of Actacorp Holdings Berhad from the Official List of
Bursa Securities as the Company does not have an adequate level
of financial condition to warrant continued listing on the
Official List of Bursa Securities.

Accordingly, please be informed that the securities of the above
Company will be removed from the Official List of Bursa
Securities on Thursday, Feb. 17, 2005, 9:00 a.m.

With respect to the securities of the Company which are
deposited with Bursa Malaysia Depository Sdn Bhd (Bursa
Depository), the securities of the Company will continue to
remain deposited with Bursa Depository notwithstanding the de-
listing of the securities of the Company from the Official List
of Bursa Securities. It is not mandatory for the securities of a
Company which has been de-listed to be withdrawn from Bursa
Depository.

Alternatively, shareholders of the Company who intend to hold
their securities in the form of physical certificates can
withdraw these securities from their Central Depository System
accounts maintained with Bursa Depository, at anytime after the
securities of the Company are de-listed from the Official List
of Bursa Securities by submitting the application form for
withdrawal in accordance with the procedures prescribed by Bursa
Depository.

Shareholders of the Company can contact any Participating
Organization of Bursa Securities and/or Bursa Depository's
helpline at 03-20347711 or 03-20347715 for information on the
withdrawal procedures.

CONTACT:

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


AKTIF LIFESTYLE: Seeking New Core Businesses
--------------------------------------------
Further to the Company announcement dated Jan. 3, 2005 on
Practice Note No. 4/2001, Aktif Lifestyle Corporation Berhad
informs that it is still continuing its efforts to seek and
acquire new core businesses to regularize its financial
condition.

CONTACT:

Aktif Lifestyle Corporation Berhad
Level 10, Grand Seasons Avenue, No. 72,
Jalan Pahang, 53000 Kuala Lumpur
Malaysia
Phone: (60) 3 2693 1828
Fax:   (60) 3 2691 2798


BOUSTEAD HOLDINGS: Requests Suspension of Shares Trading
--------------------------------------------------------
The Directors of Boustead Holdings Berhad announced that the
Company has submitted to the Bursa Malaysia Securities Berhad a
request for suspension of trading effective Feb. 4, 2005 to make
an announcement regarding the proposed acquisition of shares by
Boustead Mint Sdn Bhd and subscription of shares in Boustead
Mint Sdn Bhd.

CONTACT:

Boustead Holdings Berhad
18th Floor, Menara Boustead,
69 Jalan Raja Chulan,
50200 Kuala Lumpur
Malaysia
Phone: 03-2141 9044
Fax:   03-21430075
Web site: http://www.boustead.com.my


GOLDEN FRONTIER: Notes Listing of Additional Shares
---------------------------------------------------
Golden Frontier Berhad disclosed details of its shares buy back
on Feb. 3, 2005 to the Bursa Malaysia Securities Berhad.

Date of buy back: 03/02/2005

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

Total number of shares purchased (units): 3,400

Minimum price paid for each share purchased (RM):  0.655

Maximum price paid for each share purchased (RM):  0.660

Total consideration paid (RM): 2,254.32

Number of shares purchased retained in treasury (units): 3,400

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

Cumulative net outstanding treasury shares as at to-date
(units): 1,304,400

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

CONTACT:

Golden Frontier Berhad
No 11 Lorong Kinta
10400 Penang,
Malaysia
Phone: +60 4 226 2226
Fax:   +60 4 228 2890
  
This announcement is dated Feb. 3, 2005.


GULA PERAK: Lists Additional Shares
-----------------------------------
Gula Perak Berhad's additional 14,700 new ordinary shares of
RM1.00 each issued pursuant to the Conversion of 14,700
irredeemable convertible secured loan stocks 2000/2005 into
14,700 new ordinary shares were granted listing and quotation
effective Monday, Feb. 7, 2005, 9:00 a.m.

CONTACT:

Gula Perak Berhad
Level 7, Dynasty Hotel
Kuala Lumpur 218, Jln Ipoh,
51200 Kuala Lumpur
Malaysia
Phone: 03-4044 2828
Fax:   03-4044 6688


I-BERHAD: Releases Shares Buy Back Notice
-----------------------------------------
I-Berhad disclosed to the Bursa Malaysia Securities Berhad
details of its shares buy back on Feb. 3, 2005.

Date of buy back: 03/02/2005

Description of shares purchased: Ordinary shares of RM1.00 each

Total number of shares purchased (units): 3,200

Minimum price paid for each share purchased (RM): 0.840

Maximum price paid for each share purchased (RM):  0.840

Total consideration paid (RM): 2,708.21

Number of shares purchased retained in treasury (units): 3,200

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

Cumulative net outstanding treasury shares as at to-date
(units): 637,400

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

CONTACT:

I-Berhad
3, Jalan Astaka U8/84
Section U8
Bukit Jelutong
40150 Shah Alam
Selangor
Phone: 03-7845 4511
Fax: 03-7845 4514
Web site: http://www.i-digital.com

This announcement is dated Feb. 3, 2005


MALAYSIAN INDUSTRIAL: Unveils Employee Share Option Scheme
----------------------------------------------------------
Malaysian Industrial Development Finance Berhad's additional
1,337,000 new ordinary shares of RM1.00 each issued pursuant to
the Employee Share Option Scheme were granted listing and
quotation effective Monday, Feb. 7, 2005, 9:00 a.m.

CONTACT:

Malaysian Industrial Development Finance Berhad
Bangunan MIDF
195A Jalan Tun Razak
50400 Kuala Lumpur
P O Box 12110
50939 Kuala Lumpur
Malaysia
Phone: 03-2161 0066/1166
Fax:   03-2161 5973


NAM FATT: Releases Listing of Additional Shares
-----------------------------------------------
Nam Fatt Corporation Berhad's additional 20,000 new ordinary
shares of RM1.00 each issued pursuant to the Conversion of
RM20,000 irredeemable convertible unsecured loan stocks
2003/2011 into 20,000 new ordinary shares were granted listing
and quotation effective Monday, Feb. 7, 2005, 9:00 a.m.

CONTACT:

Nam Fatt Corporation Berhad
40B Persiaran Sultan Ibrahim
41300 Klang, Selangor Darul Ehsan 41300
Malaysia
Phone: +60 3342 0766
Fax:   +60 3342 7830


PADIBERAS NASIONAL: Discloses Additional Shares Listing
-------------------------------------------------------
Padiberas Nasional Berhad's additional 173,000 new ordinary
shares of RM1.00 each issued pursuant the Employees' Share
Option Scheme were granted listing and quotation effective
Monday, Feb. 7, 2005, 9:00 a.m.

CONTACT:

Padiberas Nasional Berhad
Level 8B, 10 & 19, CP Tower
No.11, Section 16/11
Jalan Damansara
46350 Petaling Jaya
Malaysia
Phone: 03-4604545
Fax:   03-4604646
Web site: http://www.bernas.com.my/


PAN PACIFIC: Proposed Restructuring Scheme Pending Approval
-----------------------------------------------------------
Pursuant to Practice Note 4/2001, Pan Pacific Asia Berhad (PPAB)
announced that the Company is still waiting for the approvals
from relevant authorities in relation to the Proposed
Restructuring Scheme of the Company.

CONTACT:

Pan Pacific Asia Berhad
Unit No. 602B, Level 6, Tower B,
Uptown 5, 5 Jalan SS21/39,
Damansara Uptown, 47400 Petaling Jaya,
Selangor, Malaysia
Phone: 03-77278168
Fax:   03-77271622


POS MALAYSIA: Resells 200,000 Treasury Shares
---------------------------------------------
In a disclosure to the Bursa Malaysia Securities Berhad, Pos
Malaysia & Services Holdings Berhad issued a notice of resale
and cancellation of treasury shares.

Date of transaction: 03/02/2005

Total number of treasury shares sold (units): 200,000

Total number of treasury shares cancelled (units):

Minimum price paid for each share sold (RM): 2.660

Maximum price paid for each share sold (RM): 2.680

Total amount received for treasury shares sold (RM): 534,000.00

Cumulative net outstanding treasury shares as at to-date
(units): 34,438,000

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

CONTACT:

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


RHB CAPITAL: Unit Director Disposes of Property Upon Retirement
---------------------------------------------------------------
Pursuant to paragraph 10.08 of the Bursa Malaysia Securities
Listing Requirements, RHB Capital Berhad announced that RHB Bank
Berhad (RHB Bank), a 70% owned Company subsidiary, had on Feb.
3, 2005 disposed of a laptop (model Toshiba Satellite Pro
4600XCDT - Pentium III) to Mr. Lim Cheng Yeow, a former Director
of RHB Bank, for a cash consideration of RM375.00.

1. Details of the Parties to the Transaction

RHB Bank was incorporated in Malaysia on Oct. 4, 1965 under the
Companies Ordinances, 1940 to 1946. RHB Bank is a commercial
bank licensed under the Banking and Financial Institutions Act,
1989. RHB Capital holds a 70% equity interest in RHB Bank.

Mr Lim Cheng Yeow was appointed to the Board of RHB Bank on
March 30, 1991 and he retired from the same on Oct. 1, 2004.

2. Purchase Consideration and Basis of Arriving at the Purchase
Consideration

The laptop was purchased by RHB Bank at the cost of RM8,972.26
on Aug. 16, 2001 and the estimated market value as of January
2005 is RM500.00.

The disposal price of RM375.00 was arrived at after taking into
account a discount of 25% from the estimated market value of the
laptop, consistent with the discount normally given for disposal
of fixed assets to a leaving/retiring director.

3. Interests of Directors, Major Shareholders and Persons
Connected with Them

Other than Mr Lim Cheng Yeow, none of the directors, major
shareholders of RHB Capital Group or parties connected with them
have any interest, direct or indirect, in the transaction which
may be regarded as a related party interest.

4. Rationale for the Transaction

The laptop had been used by Mr Lim Cheng Yeow while he was a
Director of RHB Bank and after his retirement, he had requested
to purchase the same. The Disposal was approved in recognition
of the past contributions and services of Mr Lim Cheng Yeow to
RHB Bank.

6. Financial Effects

The Disposal will not have any effect on the substantial
shareholders' shareholding, earnings, net tangible assets or
share capital in RHB Capital.

7. Approvals Required

Based on the consideration of RM375.00, the Disposal does not
require the approval of the shareholders of RHB Capital or RHB
Bank, nor any government authorities.

8. Statement by the Board of Directors of RHB Capital

In view of the rationale as stated in paragraph 5 above, the
Board of Directors of RHB Capital is of the opinion that the
Disposal is not to the detriment of RHB Capital Group.

CONTACT:

Rhb Capital Berhad
Jalan Tun Razak
Kuala Lumpur, 50400
Malaysia
Phone: +60 3 9287 8888
Fax:   +60 3 9280 6507

This announcement is dated Feb. 3, 2005.


SATERAS RESOURCES: Amends Feb. 2 Disclosure
-------------------------------------------
Further to the announcement made on 2nd February 2005 Sateras
Resources (Malaysia) Berhad clarified that the last line of the
Last paragraph should read as "and the said proposed scheme had
already been approved by SC (Securities Commission)" and not
otherwise (.the proposed scheme had already been approved by
KLSE and SC).

CONTACT:

Sateras Resources (Malaysia) Berhad
19 Jalan Pinang Kuala Lumpur,
Kuala Lumpur 50450
Malaysia Phone: +60 2162 5288
Telephone:      +60 2161 8529


TALAM CORPORATION: Redeems Outstanding Bonds
--------------------------------------------
Talam Corporation Berhad announced that the Company has on Jan.
28, 2005 made an early redemption of the entire outstanding
balance of the RM150 million nominal value of 5% Secured Serial
Bonds.

On June 19, 2000, the Company announced its proposal to issue
the Bonds with 107,650,000 detachable Warrants 2000/2005 on a
bought deal basis whereby a primary subscriber acquired the
entire issue of Bonds and Warrants at 100% of the nominal value
of the Bonds. The 107,650,000 Warrants were subsequently offered
to Company shareholders on the basis of one (1) Warrant for
every two (2) existing ordinary shares held.

The Company had on Nov. 9, 2000 issued the Bonds in various
tranches with the maturity period spreading over 7 years
expiring on Nov. 9, 2007.

CONTACT:

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


WCT ENGINEERING: Lists 30,400 New Shares
----------------------------------------
WCT Engineering Berhad's additional 30,400 new ordinary shares
of RM1.00 each issued pursuant to the Exercise of 30,400
Warrants 2000-2005 were granted listing and quotation effective
Monday, Feb. 7, 2005, 9:00 a.m.

CONTACT:

WCT Engineering Berhad
12, Jalan Majistret U1/26
Seksyen U1, Lot 44, Hicom-Glenmarie Industrial Park
40150 Shah Alam, Selangor Darul Ehsan, Malaysia
Phone: 603-7805 2266


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

COLLEGE ASSURANCE: Senator Threatens to Bust Execs
--------------------------------------------------
A senator has warned that he will perform a citizen's arrest on
College Assurance Plans (CAP) officials if the pre-need firm
fails to meet its obligations to plan holders, reports The
Manila Standard.

Opposition Senator Alfredo Lim, a former police general, vowed
to protect plan holders and personally arrest CAP's executives
if the Company will not honor claims of some 800,000
individuals.

Upon the senator's request, the Department of Justice (DoJ) said
it would order the National Bureau of Investigation (NBI) to
probe into the troubled pre-need firm for possible criminal
liability.

CAP is on the verge of ending its operations after an oversight
committee of the Securities and Exchange Commission (SEC)
recommended the Company's closure after discovering the firm
insolvent since September last year.

DoJ also feared CAP may not be able to generate funds to meet
its obligations especially that one of its investors, who is
expected to provide the Company its much-needed capital, is
facing illegal logging charges before the DoJ.

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


NATIONAL POWER: YNN Intends to Operate Masinloc
-----------------------------------------------
The winning bidder for National Power Corporation's (Napocor)
600-MW Masinloc coal-fired power plant said it intends to run
and keep the employees of the power facility, The Philippine
Star reports.

YNN Pacific Consortium Incorporated made the statement to pacify
several lawmakers who have raised concerns about YNN's
incapability to run the Masinloc plant.

Employees for the Talamo power plant raised their concerns.
Talomo was privatized last year and was turned over recently to
its new owner, Hedcor of the Aboitiz group.

With a US$9 million bond already paid, YNN is set to operate the
Masinloc plant. In fact, the consortium is planning to put up
their office inside the Zambales-based facility, which explains
why it does not have a Manila office.

The YNN Pacific official said plans to run the power plant and
maintain its employees are not even in the contract with the
Power Sector Assets and Liabilities Management Corp. (PSALM).

Under the sale structure for Masinloc, this would be an asset
sale and the winning bidder has no obligation to run the plant
and may remove, dismantle or transfer the asset.

Based on the sale agreement, the owner has flexible employee
arrangements and no obligation placed on investors with regard
to existing plant employees.

YNN Pacific is composed of a group of Filipino (YNN Holdings)
and Australian (Great Pacific Financial Group) investors.

The consortium is organized to enter into different
international and domestic partnerships for the main purpose of
pursuing power sector business opportunities, including the
acquisition, implementation or packaging of profitable power
generation projects anywhere in the Asia-Pacific region,
particularly in the Philippines.

CONTACT:

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


PILIPINO TELEPHONE: Calls for Ban on Sun's Unlimited Calls Promo
----------------------------------------------------------------
Pilipino Telephone Company (Piltel) has urged the National
Telecommunications Commission (NTC) to prohibit rival Sun
Cellular from continuing its "24/7" promotional scheme, reports
The Philippine Daily Inquirer.

Piltel claimed its rehabilitation is under "grave threat and
peril" due to Sun Cellular's 24/7 scheme, which gives
subscribers unlimited intra-network calls and text messaging for
a flat monthly rate of PHP250.

Piltel has accused Sun Cellular of predatory pricing for
offering the unlimited call and text credits. It requested the
NTC to issue a cease and desist order on the Plan and impose
sanctions to Sun's parent, Digital Telecommunications (Digitel),
for violating due process.

In response to Piltel's call, the NTC vowed to review all
telecom wireless and fixed-line pricing schemes to see if major
players were involved in predatory landline pricing at the
expense of smaller operators.

NTC Chairman Ronald Solis said the commission is not against the
lowering of telecom rates to benefit the public but it should
also protect smaller operators against unhealthy competition.

CONTACT:

Pilipino Telephone Corporation
G/F Mobiline Centre
6764 Ayala Avenue
1200 Makati City
Philippines
Telephone: 63 2 811 8888
Fax: 63 2 817 6888


PILIPINO TELEPHONE: Director Steps Down
---------------------------------------
Mr. Meliton V. Salazar resigned as director of Pilipino
Telephone Corporation effective on February 4, 2005.

Mr. Salazar's resignation is not anticipated to have a material
impact on the Company's current or future operations nor have
any impact on its financial position or results of operation.

DEBORAH ANNE N. TAN
Corporate Governance Compliance Officer

CONTACT:

Pilipino Telephone Corporation
G/F Mobiline Centre
6764 Ayala Avenue
1200 Makati City
Philippines
Telephone: 63 2 811 8888
Fax: 63 2 817 6888


SANITARY WARES: Court Declares Insolvency
-----------------------------------------
This in reference to Circular for Brokers No. 435-2005 dated
January 28, 2005, in connection with the Petition for Voluntary
Insolvency filed by Sanitary Wares Manufacturing Corporation  
(SWM or the Company) with the Regional Trial Court of Las Pinas
City.

The Company, in its letter dated February 4, 2005, advised that:

"We have (Friday) received a copy of the Order issued by Branch
253 of the Regional Trial Court of Las Pinas City dated February
2, 2005, in connection with SWMC'c Petition for Voluntary
Insolvency.

The Order found the petition filed by SWMC sufficient in form
and substance and has declared SWMC insolvent in accordance with
Section 18 of the Insolvency Law (Act No. 1956).

A creditors' meeting has been called by the court on March 7,
2005 at 2:00 p.m. for the purpose of choosing an assignee or
receiver of SWMC's properties. In the meantime, payment of any
debts due to SWMC and the transfer of any property by SWMC have
been forbidden, and all civil proceedings against SWMC have been
stayed."

The Philippine Stock Exchange shall inform the Trading
Participants and the investing public of further developments on
the matter.

For your information.

(Original Signed)
MA. PAMELA D. QUIZON-LABAYEN
Head, Disclosure Department

Noted by:

(Original Signed)
JURISITA M. QUINTOS
Senior Vice President

CONTACT:

Sanitary Wares Manufacturing Corporation
Concha Cruz Drive
Barrio Almanza, Las Pinas City
Tel. No: 842-8950 to 55; 842-8738 to 40
Fax No: 809-3617
E-mail Address: asi.ph@amstd.com
Auditor: SyCip, Gorres, Velayo & Company
Transfer Agent: Bank of the Philippine Islands


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


CAMILLIA ENTERPRISE: Requests to be Struck Off
----------------------------------------------
NatSteel Ltd announced to the Singapore Stock Exchange (SGX)
that its subsidiary Camillia Enterprise Pte Ltd has submitted an
application to the Accounting and Corporate Regulatory Authority
of Singapore to be struck off the register on the basis that it
is no longer carrying on business and that Camillia Enterprise
Pte Ltd will be struck off the register effective April 27,
2005.

This transaction does not have any material impact on the
earnings per share and net tangible assets of the NatSteel
Group.

By Order of the Board

Lim Su-Ling
Company Secretary


ELOGICITY INTERNATIONAL: To Undergo Winding Up Proceedings
----------------------------------------------------------
In the matter of Elogicity International Pte Ltd. a winding up
order was made for the Company on the 18th day of January 2005.

Mr. Chee Yoh Chuang and Mr. Lim Lee Meng both of
Messrs Chio Lim & Associates
18 Cross Street
#08-01 Marsh & McLennan Centre
Singapore 048423

Tsmp Law Corporation
Solicitors for the Petitioner
Friday, February 4, 2005 1


HOOKED ON: Receives Winding Up Order
------------------------------------
In the matter of Hooked On Steamboat Pte Ltd. a winding up order
was made for the Company on the 28th day of January 2005.

The Official Receiver
Insolvency & Public Trustee's Office
The URA Centre (East Wing)
45 Maxwell Road #06-11
Singapore 069118.

Dated this 4th day of February 2005.
Messrs Ramdas & Wong
Solicitors for the Petitioners

Note:

(a) All creditors of the abovenamed 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 abovenamed Company should be forwarded
to the Liquidator.


KOH BROTHERS: Sets EGM March 2
------------------------------
Notice is hereby given that an Extraordinary General Meeting of
Koh Brothers Group Limited will be held at 11 Lorong Pendek, Koh
Brothers Building, Singapore 348639 on 2 March 2005 at 10:00
a.m. for the purpose of considering and, if thought fit, passing
with or without any modifications the following ordinary
resolution:

The proposed acquisition by the Koh Brothers Group of property
located at 78 Andrew Road, Singapore as an ordinary resolution
That:

(a) Approval be and is hereby given to the Company or any of its
wholly-owned subsidiaries to acquire the Property (as defined in
the Company's Circular to Shareholder s dated 7 February 2005)
pursuant to the sale and purchase agreement dated 21 December
2004 entered into between Koh Brothers Development Pte Ltd and
Mr. Koh Tiat Meng (S&P Agreement); and

(b) The Independent Directors of the Company (as defined in the
Circular) and each of them be and is hereby authorized to
complete and to do all acts and things (including but not
limited to the execution of all such agreements and documents,
procurement of third party consents and approving of any
amendments whatsoever to the S&P Agreement) as they or he may
consider necessary, desirable or expedient in connection with
the S&P Agreement or the transactions contemplated by the S&P
Agreement or to give effect to this Resolution, as they or he
may think fit.

By Order Of The Board
Lee Suyin
Company Secretary
7 February 2005
Singapore

Notes:

(1) A member of the Company entitled to attend and vote at the
Extraordinary General Meeting is entitled to appoint not more
than two proxies to attend and vote on his stead. A proxy need
not be a member of the Company.

(2) If a proxy is to be appointed, the instrument appointing a
proxy must be duly deposited at the registered office of the
Company at 11 Lorong Pendek, Koh Brothers Building, Singapore
348639 not less than 48 hours before the time appointed for
holding the Extraordinary General Meeting.

(3) The instrument appointing the proxy must be under the hand
of the appointer or his attorney duly authorized in writing.
Where the instrument appointing a proxy is executed by a
corporation, it must be executed either under its seal or under
the hand of any officer or attorney duly authorized.


MEDIASTREAM LIMITED: Nominates Timothy Reid as Judicial Manager
---------------------------------------------------------------
Notice is hereby given that a petition for placing Mediastream
Limited, formerly known as Form Holdings Limited, under the
judicial management of Judicial Manager by the High Court was on
the 31st day of January 2005, presented by Overseas-Chinese
Banking Corporation Limited (RC No. 193200032W), the successor-
in-title to Four Seas Bank Limited (RC No. 190600018R) of 65
Chulia Street, #29-02/04 OCBC Centre, Singapore 049513, a
creditor, and the said Petition is directed to be heard before
the Court at 10.00 a.m. on Friday, the 25th day of February,
2005.

Timothy James Reid of Ferrier Hodgson has been nominated as the
Judicial Manager; and any person who intends to oppose the
making of an order under section 227 (B) (5) (b) or the
nomination of Judicial Manager under section 227 (B) (3) (c) may
appear at the time of the hearing by himself or his Counsel for
that purpose, and a copy of the said Petition will be furnished
to any creditor or contributory of the said Company requiring it
by the undersigned on payment of the regulated charge.

The Petitioner's address is 65 Chulia Street, #29-02/04 OCBC
Centre, Singapore 049513.

The Petitioner's Solicitors are Drew & Napier LLC of 20 Raffles
Place, #17-00 Ocean Towers, Singapore 048620.

Dated this 4th day of February 2005.

Drew & Napier Llc
Solicitors for the Petitioner

Note:

Any person who intends to appear at the hearing of the said
Petition must serve on or send by post to the abovenamed Drew &
Napier LLC, 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 Solicitors (if any) and must
be served, or if posted, must be sent by post in sufficient time
to reach the abovenamed not later than twelve o'clock noon of
the 24th day of February 2005 (the day before the day appointed
for the hearing of the Petition).

Friday, February 4, 2005 1


PCS MOBILE: Creditors Given Until March 4 to Prove Claims, Debts
----------------------------------------------------------------
Notice is hereby given that the creditors of PCS Mobile Private
Limited (In Members' Voluntary Liquidation), which is being
wound up voluntarily are required on or before March 4, 2005 to
send in their names and addresses and particulars of their debts
or claims.

They should also submit 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 by their solicitors or personally 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.

Dated this 4th day of February 2005.

Tan Seck Kang
Liquidator.
c/o 18 Cross Street
#08-01 Marsh & McLennan Centre
Singapore 048423.
Friday, February 4, 2005 1


STAR CRUISE: Creditors Given Until March 4 to Prove Claims
----------------------------------------------------------
Notice is hereby given that the creditors of Star Cruise
Shipping Agencies (S) Pte Ltd (In Member's Voluntary
Liquidation), which is being wound up voluntarily, are required,
on or before the 4th day of March, 2005 to send in their names
and addresses, with particulars of their debts and claims.

The creditors should also submit the names and addresses of
their solicitors (if any) to the undersigned, the liquidators of
the said Company.

If so required by notice in writing by the said liquidators,
they are to come 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 made before such debts are proved.

Dated this 4th day of February 2005.

Low Sok Lee Mona
Cheng Soon Keong
Liquidators.
c/o Low, Yap & Associates
4 Shenton Way
#04-01 SGX Centre 2
Singapore 068807.
Friday, February 4, 2005


THAKRAL CORPORATION: Issues Request for Trading Halt
----------------------------------------------------
Thakral Corporations Ltd. in a disclosure to the Singapore Stock
Exchange announced that it has requested for a trading halt
effective February 7, 2004 at 9:00 p.m. pending a material
announcement.  

George Lau   
Executive Vice President   


WEE POH: Requests Trading Halt
------------------------------
Wee Poh Holdings Ltd submitted to the Singapore Stock Exchange
(SGX) a request for trading halt effective February 7, 2005 at
2:00 p.m. pending a material announcement.

Wong Tek Kui   
Chairman/ Director   


WELLMAC INTERNATIONAL: Court Issues Winding Up Order
----------------------------------------------------
Notice is hereby given that on January 28, 2005, an Order of the
High Court for the Winding Up of Wellmac International Pte Ltd
was made and that the Official Receiver be appointed as the
Liquidator of the Company.

Insolvency & Public Trustee's Office
45 Maxwell Road #06-11
The URA Centre (East Wing)
Singapore 069118.

Dated this 28th day of January 2005.

Messrs Legiste Law Corporation
Solicitors for the Petitioners
Friday, February 4, 2005 1


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


THAI WAH: Releases Audited, Consolidated Yearly FS
--------------------------------------------------
Thai Wah Public Company Limited submitted to the Stock Exchange
of Thailand (SET) its Audited yearly and consolidated
statements.

Thai Wah Public Company Limited
Audited (In thousands) Ending December 31

                            For year        Year                       
                            2004            2003

Net profit (loss)           288,906         1,068,283

EPS (baht)                  3.84            18.30

Auditors Opinion:

Unqualified Opinion with an emphasis of matters

Comment:

(1) Please see details in financial statements, auditor's report
and remarks from SET SMART

"The Company hereby certifies that the information above is
correct and complete. In addition, the Company has already
reported and disseminated its financial statements in full via
the SET Electronic Listed Company Information Disclosure
(ELCID), and has also submitted the original report to the
Securities and Exchange Commission."

Mr.Kuan Chiet
Thai Wah Public Co., Ltd.
By Thai Wah Group Planner Co., Ltd.
as the Plan Administrator
Authorized to sign on behalf of the Company

For more information, click
http://bankrupt.com/misc/TWCE1.doc
http://bankrupt.com/misc/TWCE2.xls
http://bankrupt.com/misc/TWCE3.doc


THAI WAH: Meeting Resolves Not to Pay Dividend
----------------------------------------------
Thai Wah Group Planner Company Limited, as the Plan
Administrator of Thai Wah Public Company Limited (TWC), advised
the Stock Exchange of Thailand (SET) that it has passed the
following significant resolutions:

(1) Approved TWC's audited balance sheet as at December 31, 2004
and income statement for the year ended December 31, 2004 with
the auditor's report

(2) Approved not to pay dividend for the fiscal year ended
December 31, 2004.

(3) Approved to appoint Ernst & Young Office Limited,
represented by Mr. Sophon Permsirivallop C.P.A. No.3182 and/or
Ms. Rungnapa Lertsuwankul, C.P.A. No. 3516 and/or Mr. Ruth
Chaowanagawi, C.P.A. No. 3247 of Ernst & Young Office Limited,
to be the Company's auditor for the year 2005 at the auditing
fee not exceeding THB835,000 per year.

Sincerely yours,
Mr. Kuan Chiet
Class A Director
Thai Wah Group Planner Company Limited
As the Plan Administrator of
Thai Wah Public Company Limited


THAI WAH: Issues Explanation for Variance of Profit
---------------------------------------------------
Thai Wah Group Planner Company Limited, as the Plan
Administrator of Thai Wah Public Company Limited (TWC), issued
to the Stock Exchange of Thailand (SET) the following
significant reasons for the reduction in profit of THB779
million for the year ended December 31, 2004 as compared to the
same period of 2003.

(1) A THB84 million reduction in share of profit of associated
companies in equity accounting method resulting from the
transfer of two associated companies accounted for under the
equity method to long-term available-for-sale investments, since
the plan administrator intends to dispose of those investments
in the future.

(2) Decrease in foreign exchange gains of THB452 million
resulting from a THB69 million gain in the translation of USD
loans as compared to a gain of THB521 million in the same period
in 2003.

(3) Gross profit increased by THB80 million as compared to the
same period in the previous year and this is attributed to the
following major reasons:

(3.1) An increase in gross profit of tapioca flour amounted to
THB106 million. A 29% increase in sales volume increased      
gross profit by THB71 million.  Additionally, the average
selling price strengthened by 6%, although a unit cost of sale
increased by 2% as compared to the same period last year further
improved the gross profit by another THB35 million.

(3.2) The gross profit of an overseas subsidiary Company
producing tapioca flour decreased by THB19 million due to a 42
percent increase in tapioca root price, although the average
selling price increased by 29 percent. The tapioca root is the
subsidiary's primary raw material.

(4) Gross profit of hotel operations is THB44 million higher as
compared to the same period in 2003 due mainly to the increase
in occupancy rate and average room rate.

(5) A THB17 million increase in gain on debt restructuring.

The gain in 2004 amounted to THB86 million as compared to THB69
million in 2003.

(5.1) The gain in 2004 is due to compliance with the condition
of Incentive Debt under the amended and restated debt
restructuring agreement which forms part of the amended business
rehabilitation plan accepted by the Central Bankruptcy Court on
30 June 2003.

(5.2) The gain in 2003 is attributed to THB35 million in
compliance with Thai Accounting Standard No. 34 "Troubled
Debt Restructuring" and THB34 million in compliance with the
condition of Incentive Debt under the amended and restated debt
restructuring agreement, which forms part of the amended
business rehabilitation plan accepted by the Central Bankruptcy
Court on 30 June 2003.

(6) A THB68 million decrease in "gain on sale of investment"
arising from the one-off sale of an investment in a related
Company in 2003 which did not reoccur in the period under
review.

(7) Selling and administrative expenses increased by THB58
million over the same period last year due mainly to an increase
in sale transportation expenses (as a result of higher sales
volume) and an increase in financial advisory expenses of a
subsidiary Company.

(8)A THB26 million increase in a reversal of allowance for loss
on impairment of investment due to the settlement of convertible
loan stock and interest receivable.

(9) A THB44 million decrease in share of gain to minority
interest due to a decrease in share of gain of THB44 million in
2003.

(10) A THB324 million decrease in gain on asset revaluation due
to a decrease in gain on asset revaluation in 2003, which would
be reoccurred in every three years as described in the Company's
accounting policy.

We hope the above information would be beneficial to all
investors.

Very truly yours,
Mr. Kuan Chiet
Thai Wah Public Co., Ltd.
By Thai Wah Group Planner Co., Ltd.
as the Plan Administrator


TONGKAH HARBOUR: Clarifies Khao Hun News Article
------------------------------------------------
The Khao Hun Daily Thai newspaper dated February 4 to 6, 2005,
page 6, has incorrectly reported on Tongkah Harbour Public
Company Limited's (THL) capital increase information that in the
past year, THL drew funds from the existing shareholders three
times and the loan for the gold project has not yet been
approved.

The Company, in a disclosure to the Stock Exchange of Thailand
(SET), reminds all its shareholders, investors, and the SET,
that in the past year (2004), THL allocated 21.9 million shares
to directors and staff under the 2 years Company ESOP scheme in
2003.

Another capital increase of 100 million shares was for private
placement and not for the existing shareholders as stated in the
newspaper report.

The purpose for the private placement was not only for the gold
project but also for other's Company projects.

As for the loan for development of the Gold Project, the Boards
of both EXIM Bank (Thailand) and Bank Thai have already approved
the said loan since 16 December 2004.

Currently, Tungkum Limited's staff undertakes the works of local
infrastructure preparations, including earth works and civil
works. The team is rushing to complete most of the works such as
roads, dams, tailings pond and preparations for plant foundation
before the coming rainy season.

Please be informed accordingly.
Yours faithfully,
Mr. Chalermchai Martmuang
The Secretary to the Executive Board of Directors


BOND PRICING: For the Week 31 January to 04 February 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    9
BIL Finance Ltd                       8.000%    10/15/07    9
BIL Finance Ltd                       8.750%    10/15/05    8
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    3
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    7
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    8
Fernz Corp Ltd                        8.560%    10/15/06    7
Futuris Corporation Ltd               7.000%    12/31/07    3
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    7
Pacific Print Group Ltd.             10.250%    10/15/09    9
Powerco Ltd                           8.150%     9/01/07    8
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
Sapphire Securities                   9.250%    12/20/06    9
Sherlock Bay Nickel                  12.000%      9/1/07    1
Sky Network Television Ltd            9.300%    10/29/49    8
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    7
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
Tampines Assets Ltd                    5.625%     12/7/06    1


CHINA
-----

China Government Bond                  2.900%    5/24/32    69


KOREA
-----

Korea Electric Power Corporation       7.950%       4/1/96   46


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                          5.000%      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
LBS Bina Group Bhd                     4.000%     12/31/09    1
Lebar Daun Bhd                         2.000%       1/6/07    5
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
Sengkang Mall                          8.000%     11/20/12    1
Tampines Assets Ltd                    5.625%      12/7/06    1
Tampines Assets Ltd                    6.000%      12/7/06    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, Faith Marie Bacatan, Reiza Dejito and Erica Fernando,
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Copyright 2005.  All rights reserved.  ISSN: 1520-9482.

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                 *** End of Transmission ***