TCRAP_Public/050210.mbx                T R O U B L E D   C O M P A N Y   R E P O R T E R

                            A S I A   P A C I F I C

                Thursday, February 10, 2005, Vol. 8, No. 29

                                  Headlines

A U S T R A L I A

ARKINI PTY: To Convene Final Meeting February 15
ARTDEN PTY: Gives Creditors Until February 14 to Prove Claims
AUSTRALIAN GOAT: To Declare Final Dividend March 10
COMINDICO AUSTRALIA: Names Liquidator from Ferrier Hodgson
CLUCOR PTY: Picks Liquidator to Wind Up Company

GILLES PTY: To Hear Liquidator's Report During Meeting
HENRY WALKER: Acting Chief's Exit Adds to Woes
J AND B: Lays Out Meeting Agenda
JENALE PTY: Sets February 15 as Date of Final Meeting
KB REFRIGERATION: Members Agree to Wind Up Company

KOALA HYDROPONICS: Appoints Liquidator for Winding Up Purposes
KUR-RING-GAI: Members Resolve to Wind Up Company
LLEWYAS PTY: Enters Winding Up Proceedings
MELLOW PTY: Lays Out Agenda of Meeting
NATIONAL AUSTRALIA: Aims to Revitalize U.K. Operations

NATIONAL AUSTRALIA: Lawoko Takes on Key CRM Role
NULINE PROFILES: Final Dividend to be Declared March 10
PARIS NIGHTS: Final Meeting Slated for February 15
PRIMELIFE CORPORATION: Fails to Inform about Withdrawal Rights
QANTAS AIRWAYS: Regulator Allows Tie-up with British Airways

RANDFALL PTY: Members Pass Resolution to Wind Up Company
RICKO'S EXPRESS: To Declare Final Dividend March 14
SCHUPIC PTY: To Give Out Final Dividend
VIBRANT PTY: To Hear Liquidator's Report During Meeting
WESTBUS: Transport Official Allays Drivers' Fears

ZENWIN PTY: Members, Creditors to Meet February 15


C H I N A  &  H O N G  K O N G

BEST TONE: To Undergo Winding Up Process
FULL SCENE: Receives Winding Up Order from Court
KONG WAH: Members, Creditors to Meet February 18
KWOK LAI: Receiving Proofs of Debt Until February 19
NJI NO. 2: Falls Into Voluntary Liquidation

POON SIK: Creditors' Proofs of Claims Due February 19
SAINT POWER: Details Court-issued Order
SHEEN WEST: Court Issues Winding Up Order
STABLE WIDE: Sets First Meeting February 17
SURSON DEVELOPMENT: Court to Hear Petition on March 9


I N D O N E S I A

BANK PERMATA: Posts IDR620 Billion Net Profit in 2004
BUMI RESOURCES: To Issue US$600M Bond for Debt Refinancing
PERTAMINA: To Build Geothermal Power Plant in Kamojang


J A P A N

DAIKYO INCORPORATED: Shareholders Agree to Slash Capital by 99%
JAPAN AIRLINES: Boosts Flight Frequency Between Tokyo-Chicago
MITSUBISHI MOTORS: Plunges Deeper Into Red
MITSUBISHI MOTORS: Seals Compensation Deal with DaimlerChrysler
MITSUI BUSSAN: METI OKs Business Restructuring Plan

UFJ HOLDINGS: Unit Vows to Protect Depositors from Fraud


K O R E A

* South Korean Firms' Equity Investments Drop 52.2% in 2004


M A L A Y S I A

BOUSTEAD HOLDINGS: Lists Additional 730,000 Shares
INTAN UTILITIES: Extension on Public Spread Compliance Granted
LION CORPORATION: Notes Additional Shares Listing
LION INDUSTRIES: Updates Proposed Unit Disposal
LION INDUSTRIES: Repurchases Additional Shares

MECHMAR CORPORATION: Issues Default Status Update
METROPLEX BERHAD: Winding-Up Hearing Rescheduled
NAUTICALINK BERHAD: Restructuring Scheme to be Implemented Soon
OCEAN CAPITAL: Unit Awaits Winding-Up Order
PANTAI HOLDINGS: Repurchases Additional Shares

POS MALAYSIA: Lists Additional Shares
POS MALAYSIA: Resells 420,000 Treasury Shares
SATERAS RESOURCES: Amends Feb.3 Disclosure
TALAM CORPORATION: Posts Shares Buy Back Notice
UMW HOLDINGS: Notes Listing of Additional Shares

YCS CORPORATION: Still Assessing Financial Condition


P H I L I P P I N E S

ATLAS CONSOLIDATED: Clarifies The Manila Times Article
COLLEGE ASSURANCE: To Secure US$300-Mln Loan in 40 Days
HERMOSA SAVINGS: Falls Into the Hands of PDIC
MANILA ELECTRIC: Works Out Transition Supply Deal with Napocor
MAYNILAD WATER: Court Orders Revision of Rehab Plan

RB VINZONS: PDIC Pays Php4.89 Mln to Depositors


S I N G A P O R E

BINTAN LAGOON: Court to Hear Winding Up Petition February 18
DRESDNER KLEINWORT: Gives Creditors Until March 4 to Prove Debt
ENVIRONMENTAL ENGINEERING: Issues Notice to Declare Dividend
SHANGHAI TRAVEL: Creditors Should Prove Debt by March 7
SINO PEAK: Proofs of Claims Due February 23


T H A I L A N D

DATAMAT: Details Increase in Registered Capital
SRITHAI FOOD: Issues Progress Report of Business Reorganization
TANAYONG: Submits Business Reorganization Progress Report

     -  -  -  -  -  -  -  -

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


ARKINI PTY: To Convene Final Meeting February 15
------------------------------------------------
Notice is given that a final meeting of the members and
creditors of Arkini Pty Limited (In Liquidation) as trustee for
Arkini Trust A.C.N. 082 507 604 will be held at Rodgers Reidy,
Level 8, 333 George Street, Sydney on Tuesday, February 15, 2005
at 12:00 p.m.

The purpose of the meeting is:

(a) To receive an account from the Joint Liquidators.
(b) A resolution to destroy the books & records of the Company.
(c) To consider any other business.

Daniel Civil
Joint Liquidator
Rodgers Reidy
Level 8, 333 George Street,
Sydney NSW 2000


ARTDEN PTY: Gives Creditors Until February 14 to Prove Claims
-------------------------------------------------------------
A first and final dividend is to be declared on February 21,
2005 for Artden Pty Limited (Subject To Deed Of Company
Arrangement) A.C.N. 050 101 356.

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

Dated this 7th day of January 2005

Peter P. Krejci
Joint Administrator
GHK Green Krejci
Level 9, 179 Elizabeth Street,
Sydney NSW 2000


AUSTRALIAN GOAT: To Declare Final Dividend March 10
---------------------------------------------------
A first and final dividend is to be declared on March 10, 2005
for Australian Goat Breeders Limited (In Liquidation) A.C.N. 010
635 382.

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

Dated this 18th day of January 2005

Roderick Makay Sutherland
Liquidator
Jirsch Sutherland
Chartered Accountants
Level 2, 84 Pitt Street,
Sydney NSW 2000
Telephone: (02) 9233 2111
Facsimile: (02) 9233 2144


COMINDICO AUSTRALIA: Names Liquidator from Ferrier Hodgson
----------------------------------------------------------
Notice is hereby given that at a meeting of creditors of
Comindico Australia Pty Limited (In Liquidation) A.C.N. 092 630
852 convened pursuant to Section 439A of the Corporations Act
2001 held on December 17, 2004, it was resolved that the Company
be wound up.

Pursuant to Section 446A of the Corporations Act 2001, Steven
John Sherman and Peter Walker of Ferrier Hodgson, Chartered
Accountants, Level 17, 2 Market Street, Sydney NSW were
appointed Liquidators on that date.

Dated this 18th day of January 2005

Peter Walker
Joint Liquidator
Ferrier Hodgson
Chartered Accountants
Level 17, 2 Market Street,
Sydney NSW 2000


CLUCOR PTY: Picks Liquidator to Wind Up Company
-----------------------------------------------
Notice is hereby given that at a deemed meeting of creditors of
Clucor Pty Limited (Receivers And Managers Appointed) (In
Liquidation) A.C.N. 000 792 076 convened pursuant to Section
439A of the Corporations Act 2001 held on December 31, 2004, it
was resolved that the Company be wound up.

Pursuant to Section 446A(4) of the Corporations Act 2001, John
Frederick Lord of PKF, Chartered Accountants, Level 10, 1
Margaret Street, Sydney NSW 2000 was appointed Liquidator.

Dated this 5th day of January 2005

John Frederick Lord
Liquidator
PKF
Chartered Accountants
Level 10, 1 Margaret Street,
Sydney NSW 2000


GILLES PTY: To Hear Liquidator's Report During Meeting
------------------------------------------------------
Notice is hereby given that the final meeting of Gilles Pty
Limited (In Liquidation) A.C.N. 008 424 833 will be held at 9:00
a.m. on February 18, 2005, at 21 Caledonia Street, Paddington,
NSW, 2021, for the purpose of having laid before it by the
Liquidator an account showing how the winding up has been
conducted and the assets of the Company distributed and of
having an explanation of accounts of the Liquidator.

Gilles Thomas Kryger
Liquidator


HENRY WALKER: Acting Chief's Exit Adds to Woes
----------------------------------------------
The acting chief executive of failed mining contractor Henry
Walker Eltin (HWE) has quit a day after the Company's chairman
and joint founder Neville Walker died in a car accident, The Age
relates.

Administrator Scott Kershaw of McGrathNicol & Partners announced
Mr. Robert Cleary resigned without explanation.

Mr. Cleary's unexpected exit caps off a dramatic two weeks for
HWE, which went into voluntary administration on January 31, and
was then forced to replace its administrators at Ernst & Young
just a day after because of a potential conflict of interest.

HWE's creditors are claiming AU$570 million, with employee
entitlements still to be determined. The claims include AU$185
million from U.S. noteholders, AU$30 million in syndicated bank
debt and AU$125 million for trade and other creditors.

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/


J AND B: Lays Out Meeting Agenda
--------------------------------
Notice is given pursuant to Section 509(2) of the Corporations
Act 2001 that a Final Meeting of the Members and Creditors of J
And B Bricklayers (Nsw) Pty Limited (In Liquidation) A.C.N. 002
418 126 will be held at Ngan & Co, Level 5, 49 Market Street,
Sydney NSW 2000 on Tuesday, February 22, 2005 at 10:00 a.m.

AGENDA

(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) To consider any other business brought before the meeting.

Dated this 10th day of January 2005

P. Ngan
Liquidator


JENALE PTY: Sets February 15 as Date of Final Meeting
-----------------------------------------------------
Notice is given that a final meeting of the members and
creditors of Jenale Pty Limited (In Liquidation) A.C.N. 003 606
924 will be held at Rodgers Reidy, Level 8, 333 George Street,
Sydney on Tuesday, February 15, 2005 at 11:30 a.m.

The purpose of the meeting is:

(a) To receive an account from the Joint Liquidators.

(b) A resolution to destroy the books & records of the Company.

(c) To consider any other business.

Daniel Civil
Joint Liquidator
Rodgers Reidy
Level 8, 333 George Street,
Sydney NSW 2000


KB REFRIGERATION: Members Agree to Wind Up Company
--------------------------------------------------
Notice is hereby given that a general meeting of the members of
KB Refrigeration Pty Ltd A.C.N. 002 952 552 held on January 7,
2005, it was resolved that the Company be wound up voluntarily
and that for such purpose Mr. Ronald George Palmer of Palmers
Willoughby & Dunne Chartered Accountants be appointed as
liquidator.

Dated this 7th day of January 2005

Ronald Palmer
Liquidator


KOALA HYDROPONICS: Appoints Liquidator for Winding Up Purposes
--------------------------------------------------------------
Notice is hereby given that at a general meeting of the members
of Koala Hydroponics Limited (In Liquidation) A.C.N. 058 353 558
held on December 17, 2004, it was resolved that the Company be
wound up voluntarily and that, Martin John Green, Chartered
Accountant of GHK Green Krejci, Level 9, 179 Elizabeth Street,
Sydney NSW 2000 be nominated to act as Liquidator for the
purpose of the winding up.

Dated this 4th day of January 2005

Martin J. Green
Liquidator
GHK Green Krejci
Level 9, 179 Elizabeth Street,
Sydney NSW 2000


KUR-RING-GAI: Members Resolve to Wind Up Company
------------------------------------------------
Notice is hereby given that, at a general meeting of members of
Kur-Ring-Gai Bricklaying Pty Limited (In Liquidation) A.C.N. 090
834 496 held on January 5, 2005 it was resolved that the Company
be wound up voluntarily and that for such purpose Sule
Arnautovic, of Jirsch Sutherland Chartered Accountants be
appointed Liquidator. A meeting of creditors held later that day
confirmed this appointment.

Dated this 5th day of January 2005

Sule Arnautovic
Liquidator
Jirsch Sutherland
Chartered Accountants
Level 2, 84 Pitt Street,
Sydney NSW 2000
Telephone: (02) 9233 2111
Facsimile: (02) 9233 2144


LLEWYAS PTY: Enters Winding Up Proceedings
------------------------------------------
At a General Meeting of Llewyas Pty Limited (In Liquidation)
A.C.N. 000 720 365, duly convened and held at 150 Windsor
Street, Paddington NSW 2021 on December 23, 2004, the following
Special Resolution was passed:

That the Company be wound up voluntarily in accordance with the
provisions of Section 491(1) of the Corporations Act 2001 and
that the assets may be distributed in whole or part to the
members of the Company in specie should the liquidator so
desire.

Dated this 23rd day of December 2004

Peter C. Mattock
Liquidator
Saccasan Bailey Partners
Chartered Accountants
Level 15, 1 York Street,
Sydney NSW


MELLOW PTY: Lays Out Agenda of Meeting
--------------------------------------
Notice is given that a meeting of the members of Mellow Pty.
Limited (In Liquidation) A.C.N. 008 663 321 will be held
concurrently at Level 15, 201 Sussex Street, Sydney, NSW, 1171
on February 18, 2005 at 10:00 a.m.

AGENDA

(i) To lay the Liquidator's accounts before the members showing
how the winding up has been conducted and the property of the
companies has been disposed of, and to give any explanations as
required;

(ii) Any other business.

Dated this 4th day of January 2005

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


NATIONAL AUSTRALIA: Aims to Revitalize U.K. Operations
------------------------------------------------------
Group Chief Executive, John Stewart, has confirmed National
Australia Bank's (National) commitment to growing its banking
businesses in the United Kingdom following the sale of its Irish
banks.

Mr. Stewart told an analyst briefing in Sydney that the National
proposes to revitalize its two U.K. banking franchises,
Clydesdale Bank and Yorkshire Bank, and expand its operations
throughout the south-east of England.

"Following an extensive review, we have decided to stay and
build our banking franchises, Clydesdale and Yorkshire, because
the U.K. is an attractive market with a positive outlook," he
said.

"The U.K. is big enough for smaller banks to compete profitably
in niche markets. It is three times the size of the Australian
banking market and offers growth opportunities not available to
our Australian competitors."

The National's European Chief Executive, Mrs. Lynne Peacock,
told analysts that Clydesdale and Yorkshire had followed an
undifferentiated strategy from the major British High Street
banks, with multiple legal entities and complex operating
structures, significant inefficiencies and duplication,
distribution limitations, product pricing out of step with the
market and frequent management changes.

"In the past, our service delivery has not kept pace with
customer trends, our distribution network did not extend into
the south-east of England, we had no third party channels and
limited direct channel capability," she said.

"In addition, we lacked common products, processes and systems
and had separate banking and wealth management platforms."

Mrs. Peacock said that Clydesdale and Yorkshire are becoming
more nimble and customer focused so that they can develop a
sustainable presence in the U.K. banking market and provide
adequate returns to National shareholders.

"The change strategy we are implementing is building on the
strong foundations of Clydesdale and Yorkshire which include
quality brands that have secured a strong customer base in their
natural market area," she said.

"We also have good people with business and retail banking
skills that are being leveraged across our current franchises
and extended into our new banking business in the south-east of
England."

The new Clydesdale and Yorkshire banking presence in the U.K. is
based on:

- a re-aligned High Street presence in the U.K. with a
simplified and refreshed product set and small business banker
support in "flagship" branches;

- a new "light infrastructure" distribution network of
integrated financial solutions centers based around our business
and private customers;

- simplifying our product range, more product support and
actively managing our margins down to market levels;

- third party distribution of mortgage products; and

- a broad cost reduction program involving process
simplification, centralizing workloads, rationalizing management
structures and consolidating technology platforms.

Mrs. Peacock said the National recently completed the legal
entity merger of Clydesdale and Yorkshire banks which will
reduce duplication and improve efficiency and opened 12 new
integrated financial solutions centers in the south-east of
England.

"We will have over three integrated financial service centers
across the south-east and converted 39 Clydesdale and Yorkshire
locations in the midlands and northern U.K. into IFS centers by
the end of the year," she said.

"We will also shortly commence the conversion of 50 existing
Clydesdale and Yorkshire branches into flagship High Street
centers, strengthen our e-business capability and improve
processing of customer transactions."

Outlook

Mrs. Peacock said U.K. earnings will be lower in 2005 because of
the headwind created by margin decline, built-in cost growth and
ongoing investment.

"As part of our change strategy, we are aiming for a significant
reduction in our cost base, improved productivity, higher
volumes of new business and improved customer and staff
satisfaction," she said.

"We are already seeing some positive early results from
implementation of the new strategy. Clydesdale and Yorkshire are
recording a decrease in customer attrition and an increase in
new customers. This gives us confidence that a two to three year
turnaround is achievable."

CONTACT:

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


NATIONAL AUSTRALIA: Lawoko Takes on Key CRM Role
------------------------------------------------
The National Australia Bank (NAB) has consolidated
responsibility for customer relationship management projects
across its retail banking and wealth management arms in
Australia under one senior executive, relates ZDNet Australia.

Dr. Charles Lawoko, who had held the title of head of customer
relationship management at the NAB, confirmed he had been
appointed in late December as head of cross-marketing and
customer relationship management for the Australian region.

Dr. Lawoko's previous role, while also limited to Australia, had
also been restricted to the retail bank. His new role will
spread out into the wealth management area as the NAB shifts to
a regional business structure comprising units servicing
Australia, Europe and New Zealand. The regional units encompass
wealth management, the retail bank brands and the transactional
and custodial operations of the former corporate and
institutional banking division. The wealth management business,
which operated under the MLC brand, is being integrated into the
regional structure.

Dr. Lawoko said in his new role, he was managing a team
comprising staff from the retail bank and the wealth management
arm.

While Dr Lawoko declined to comment on the exact number of
people in the team, he said the wealth management arm had
previously run a small customer insight unit that did not
undertake analysis to the level of sophistication as did the
retail bank's customer relationship management team.

He reports to the NAB's general manager of marketing, whose
responsibility encompasses the Australian region.

Dr. Lawoko declined to provide specific details as to the
projects the team had in the pipeline for the coming year.

However, he cited the business drivers behind customer
relationship management projects as being "the use of customer
information to improve the way customers were managed by the
bank and increasing both the cross-sell rate and share of wallet
of the customer".

The NAB operates a healthy suite of customer relationship
management systems, including a Teradata warehouse and
relationship optimization tool on top of a Teradata database.

The NAB has been undergoing massive restructuring to streamline
its systems and culture since it lost AU$360 million in a
foreign exchange trading scandal in January 2003.


NULINE PROFILES: Final Dividend to be Declared March 10
-------------------------------------------------------
A first and final priority creditor dividend is to be declared
on March 10, 2005 for Nuline Profiles Pty Limited (In
Liquidation) traded as Duraform.

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

Dated this 18th day of January 2005

Roderick Mackay Sutherland
Liquidator
Jirsch Sutherland
Chartered Accountants
Level 2, 84 Pitt Street,
Sydney NSW 2000
Telephone: (02) 9233 2111
Facsimile: (02) 9233 2144


PARIS NIGHTS: Final Meeting Slated for February 15
--------------------------------------------------
Notice is given that a final meeting of the members and
creditors of Paris Nights Pty Limited (In Liquidation) A.C.N.
104 904 341 will be held at Rodgers Reidy, Level 8, 333 George
Street, Sydney on Tuesday, February 15, 2005 at 11:00 a.m.

The purpose of the meeting is:

(a) To receive an account from the Joint Liquidators.

(b) A resolution to destroy the books & records of the Company.

(c) To consider any other business.

Daniel Civil
Joint Liquidator
Rodgers Reidy
Level 8, 333 George Street,
Sydney NSW 2000


PRIMELIFE CORPORATION: Fails to Inform about Withdrawal Rights
--------------------------------------------------------------
Aevum Limited (Aevum) refers to the notice of variation
extending offer period dated January 31, 2005 (Notice) issued by
Primelife Corporation Limited (Primelife).

In the Notice, Primelife purports to extend the end of the offer
period for its off-market takeover offer date January 7, 2005
(Offer) from 7:00 p.m. (Eastern Daylight Saving Time) on
February 7, 2005 to 7:00 p.m. on March 9, 2005. In the Notice,
Primelife also gives notice that its Offer remains subject to
the conditions set out in its Offer.

The Notice is defective as it does not comply with the
requirement of section 650D(1)(a)(ii) of the Corporations Act
2001 to inform people about the right to withdraw acceptances
under section 650E (Withdrawal Rights). The Withdrawal Rights
arise because the extension of the offer period to March 9, 2005
postpones by more than 1 month the time by which Primelife must
satisfy obligations under the Offer.

Primelife has not issued any further notice informing people of
the Withdrawal Rights. Accordingly, unless Primelife seeks
remedial orders from the Court, Aevum considers that Primelife's
Offer be closed at 7:00 p.m. on February 7, 2005.

CONTACT:

Primelife Corporation Limited
Melbourne
Victoria, Victoria 3000
Australia
Phone: +61 3 9618 5500
Fax: +61 3 9618 5599
Web site: http://www.primelife.com.au/


QANTAS AIRWAYS: Regulator Allows Tie-up with British Airways
------------------------------------------------------------
The Australian Competition and Consumer Commission (ACCC) has
granted authorization to allow the continuation of an alliance
which has operated between Qantas and British Airways since
1995.

"The decision issued Tuesday recognizes that there is an overall
benefit associated with the alliance at this time," ACCC
Chairman, Mr. Graeme Samuel, said.

"Where there is a competitive environment such as the one that
exists in the Joint Services Agreement, or JSA, markets, there
is a strong possibility that cost savings made by Qantas and BA
under the JSA will end up, one way or another, in the hands of
the consumers."

The decision confirms a draft decision issued by the ACCC in
August last year proposing to authorize the alliance between the
two airlines for a further five years. Following the draft
decision, the ACCC held a conference at which it heard
submissions from Qantas BA and Virgin Atlantic, the main party
opposing the alliance and recent entrant on the Kangaroo Route.
The ACCC also accepted further written submissions on the draft
decision.

"The JSA has been authorized twice before, but in a dynamic
industry like international aviation there is a need to
regularly revisit such arrangements.

"The JSA allows agreement between competitors to coordinate
prices. This aspect requires very careful scrutiny by the ACCC
to ensure there is continuing overall benefit to the public.

"It is clear from submissions made to the ACCC that there has
been strong price competition on the Kangaroo Route,
particularly for leisure travelers, over recent years, and the
ACCC is satisfied that this price competition will continue.

"The JSA also allows Qantas and BA to coordinate scheduling,
marketing, sales, freight and customer service activities. The
coordination occurs on services between Australia and Europe,
including services between Australia and Europe and intermediate
points such as Bangkok and Singapore.

"The ACCC believes that the JSA does not result in a lessening
of competition in the market for business passengers between
Australia and Britain where the JSA partners hold 60 percent of
the market overall. The dominance of Qantas and BA in this
market is reinforced by slot constraints at Heathrow airport
which may provide barriers to market entry by new carriers and
expansion by existing carriers.

"The ACCC is of the view that the alliance does not result in a
significant lessening of competition in other business passenger
markets or in the markets for leisure passengers to Europe or
South East Asia. The leisure passenger markets in which the JSA
partners operate are very competitive with competitors including
Singapore Airlines, Thai International, Emirate and now Virgin
Atlantic."

Virgin Atlantic commenced operating services on the Kangaroo
Route via Hong Kong in December last year.

"Consumers in 2005 have more options outside the JSA for
accessing points in Europe through expanded Asian carriers'
route networks, increased access to European carriers at
midpoints such as Singapore and the proliferation of low cost
carriers providing intra Europe travel."

Mr. Samuel said that the ACCC is confident that any detriment
arising in the market for business passengers traveling between
Australia and Britain is outweighed by benefits arising from
cost savings, the availability of discount seats and schedule
connections.

CONTACT:

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


RANDFALL PTY: Members Pass Resolution to Wind Up Company
--------------------------------------------------------
At a General Meeting of Randfall Pty Limited (In Liquidation)
A.C.N. 000 247 076, duly convened and held at Level 15, 1 York
Street, Sydney, NSW 2000 on 21st December 2004, the following
Special Resolution was passed:

That the Company be wound up voluntarily in accordance with the
provisions of Section 491(1) of the Corporations Act 2001 and
that the assets may be distributed in whole or part to the
members of the Company in specie should the liquidator so
desire.

Dated this 21st day of December 2004

Peter C. Mattock
Liquidator
Saccasan Bailey Partners
Chartered Accountants
Level 15, 1 York Street,
Sydney NSW


RICKO'S EXPRESS: To Declare Final Dividend March 14
---------------------------------------------------
A First and Final Dividend is to be declared on March 14, 2005
for Ricko's Express Courier Service Pty Ltd (In Liquidation)
(Subject To Deed Of Company Arrangement) A.C.N. 067 492 880.

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

Dated this 10th day of January 2005

Geoffrey Mcdonald
Deed Administrator
Hall Chadwick
29th Floor, 31 Market Street,
Sydney NSW


SCHUPIC PTY: To Give Out Final Dividend
---------------------------------------
A first and final dividend is to be declared on February 21,
2005 for Schupic Pty Limited (In Liquidation) previously trading
as Brumby's Charlestown A.C.N. 101 743 328.

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

Dated this 16th day of December 2004

Peter Hicks
Liquidator
Forsythes
Level 5, 175 Scott Street,
Newcastle NSW 2300


VIBRANT PTY: To Hear Liquidator's Report During Meeting
-------------------------------------------------------
Notice is given that meetings of the members of Vibrant Pty.
Limited (In Liquidation) A.C.N. 008 659 603 will be held
concurrently at Level 15, 201 Sussex Street, Sydney, NSW, 1171
on February 18, 2005 at 10:00 a.m.

AGENDA

(i) To lay the Liquidator's accounts before the members showing
how the winding up has been conducted and the property of the
companies has been disposed of, and to give any explanations as
required;

(ii) Any other business.

Dated this 4th day of January 2005

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


WESTBUS: Transport Official Allays Drivers' Fears
-------------------------------------------------
A top transport bureaucrat assured drivers affected by the
downfall of Westbus that their jobs and entitlements are safe,
according to the Herald Sun.

Department of Transport Director-general Mark Duffy told bus
drivers from across New South Wales not to worry about losing
their jobs, saying Westbus' voluntary liquidation is more of "a
smooth, administered transition of a business where the
entitlements and employment will be cared for".

He said administrators of the Company had indicated Westbus has
sufficient assets to cover entitlements, noting that small
creditors and claims will be honored first.

Still, members of the Transport and Workers Union (TWU) said
they were doubtful jobs were secure, stressing the drivers
wanted stronger guarantees.

Westbus went into voluntary liquidation after failing to secure
a bank loan to continue operations.

The firm, which has 800 employees and runs a fleet of 520 buses,
is suffering from debts of AU$90 million (US$69.7 million), but
is considered by administrator Peter Yates, of Deloitte, to be
in a favorable cash flow position with substantial assets.

CONTACT:

Westbus Pty Ltd
Level 12, 100 George Street
Parramatta, NSW 2150
Web site: http://www.westbus.com.au


ZENWIN PTY: Members, Creditors to Meet February 15
--------------------------------------------------
Notice is given that a final meeting of the members and
creditors of Zenwin Pty Limited (In Liquidation) as trustee for
The Ornig Trust Estate formerly trading as Accurate Painting
Contractors A.C.N. 060 150 549 will be held at Rodgers Reidy,
Level 8, 333 George Street, Sydney on Tuesday, February 15, 2005
at 12:30 p.m.

The purpose of the meeting is:

(a) To receive an account from the Joint Liquidators.
(b) A resolution to destroy the books & records of the Company.
(c) To consider any other business.

Daniel Civil
Joint Liquidator
Rodgers Reidy
Level 8, 333 George Street,
Sydney NSW 2000


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


BEST TONE: To Undergo Winding Up Process
----------------------------------------
The High Court of the Hong Kong Special Administrative Region
Court of First Instance issued a winding up order for Best Tone
Investments Limited of 12th Floor, Silver Fortune Plaza, No 1
Wellington St, Central, HK on January 26, 2005.

The winding up petition was presented December 3, 2005.


FULL SCENE: Receives Winding Up Order from Court
------------------------------------------------
The High Court of the Hong Kong Special Administrative Region
Court of First Instance issued a winding up order to Full Scene
Limited of 12th Floor, Silver Fortune Plaza, No 1 Wellington St,
Central, HK on January 26, 2005.

The winding up petition was presented December 3, 2004.


KONG WAH: Members, Creditors to Meet 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 Estate 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 4:00 p.m. for the members.

A meeting of the creditors of the Company will also be held at
the same place at 4:30 p.m. for the purpose of receiving an
account of the liquidator's act and dealings and of the conduct
of the winding up of the Company during the year ended 9 January
2005.

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


KWOK LAI: Receiving Proofs of Debt Until February 19
----------------------------------------------------
Notice is hereby given that dividends are intended to be
declared for Kwok Lai Chuen.

Creditors who have not proved their debts by February 19, 2005
will be excluded from the above dividends.

Dated this 4th day of February 2005

E T O'Connell
Official Receiver & Trustee


NJI NO. 2: Falls Into Voluntary Liquidation
-------------------------------------------
Notice is hereby given that pursuant to Section 133(1)(b) of the
Companies Law (2004 Revision) NJI No. 2 Investment Fund was
placed into voluntary liquidation on January 1, 2005 and that
Messrs Hiroshi Yamada, Chew Cheng Keat and Chan Chun Hung
Vincent were appointed as Joint Voluntary Liquidators the
Company.

The creditors of the Company are required on or before 1st March
2005 to send in their names and addresses and the particulars of
their debts or claims and the names and addresses of their
attorneys-at-law (if any) to the undersigned, the attorneys-at-
law for the liquidators of the said Company.

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

Dated this 4th day of February 2005

Contact for enquiries:
Mr. Chew Cheng Keat
c/o JAFCO Investment (Asia Pacific) Ltd
6 Battery Road #42-01
Singapore 049909


POON SIK: Creditors' Proofs of Claims Due February 19
-----------------------------------------------------
Notice is hereby given that dividends are intended to be
declared for Poon Sik Wing.

Creditors who have not proved their debts by February 19, 2005
will be excluded from the above dividends.

Dated this 4th day of February 2005

E T O'Connell
Official Receiver & Trustee


SAINT POWER: Details Court-issued Order
---------------------------------------
Upon the application of the Solicitors for the Joint and Several
Provisional Liquidators for Saint Power Industrial Limited by
way of ex-parte application of the Provisional Liquidators filed
on September 22, 2004;

And upon hearing the Solicitors for the Joint and Several
Provisional Liquidators and Mr. Hsu Lap Foo, the creditor,
appearing in person;

And upon reading the Provisional Liquidators' report to Court in
support of an application for appointment of liquidators and
committee of inspection under Section 206 of the Companies
ordinance and the exhibits referred thereto filed on 22nd
September 2004, Memorandum of Advertisement of Gazetting filed
on 4th November 2004, and the Provisional Liquidators'
Supplemental Report to Court in support of an application for
appointment of liquidators and committee of inspection under
Section 206 of the Companies Ordinance and exhibits referred
thereto filed on 17th December 2004, the amended report of
result of meetings of contributories filed on 17th December 2004
and the Affirmation of Lam Ka Man filed on 31st December 2004

It is ordered that:

(1) The Provisional Liquidators, Mr. Stephen Liu Yiu Keung and
Mr. Yeo Boon Ann be appointed as Joint and Several Liquidators
of the Company;

(2) There be no appointment of Committee of Inspection'

(3) That the Joint and Several Liquidators be remunerated on
time-costs basis or such other basis as may be determined in
accordance with Section 196(2) of the Companies Ordinance and
such remunerations be paid out of the assets of the Company'

(4) The Joint and Several Liquidators do within 21 days from
today give security to the satisfaction of the Official Receiver
as provided under Section 195 of the Companies Ordinance;

(5) Notice of this order be advertised by the Joint and Several
Liquidators in one issue of the English newspaper and one issue
of the Chinese newspaper published and circulating in Hong Kong
and gazetted by the Official Receiver; and

(6) The Costs of this application be paid out of the assets of
the Company and in so far as to the costs of the Provisional
Liquidators are concerned, they shall form part of the costs in
this application.

Dated the 4th day of January 2005
Filed the 20th day of January 2005

P. C. WOO & CO.
Solicitors for the Joint and Several Liquidators
1225 Prince's Building
10 Chater Road
Central, Hong Kong

Telephone Number: 2533 7700  
Fax Number: 2525 5737
High Court Registry Box No. 655
Ref No. 93541:SPT (KKT): psm


SHEEN WEST: Court Issues Winding Up Order
-----------------------------------------
The High Court of the Hong Kong Special Administrative Region
Court of First Instance has issued a winding up order for Sheen
West International Limited of Flat E, 6/F, Neich Tower, 128
Gloucester Road, Wanchai, HK on January 26, 2005.

The winding up petition was presented December 3, 2004.


STABLE WIDE: Sets First Meeting February 17
-------------------------------------------
Stable Wide Development Limited disclosed in a notice that it
will hold a first meeting at the office of Lily Fenn & Partners,
Solicitors At Room D, 32nd Floor, Lippo Centre, Tower 1, 89
Queensway, Hong Kong on February 17, 2005 at 3:00 p.m. for
creditors and 4:30 p.m. for contributories.

Dated this 4th day of February 2005

Lily K. B. Fenn
Joint and Several Liquidator
Room D, 32nd Floor, Lippo Centre
Tower 1, 89 Queensway, Hong Kong


SURSON DEVELOPMENT: Court to Hear Petition on March 9
-----------------------------------------------------
Notice is hereby given that a Petition for the Winding up of
Surson Development Limited by the High Court of Hong Kong
Special Administrative Region was on January 4, 2005 presented
to the said Court by Shui On Building Contractors Limited whose
registered office is situate at 34th Floor, Shui On Centre, 6-8
Harbour Road, Hong Kong.  

The said Petition is directed to be heard before the Court at
9:30 am 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.

Lovells
Solicitors for the Petitioner
23rd Floor, Cheung Kong Center
2 Queen's Road Central
Central, Hong Kong
Ref: TH/TTW/P0826/00017
Telephone:+ 852 2219 0888
Fax: +852 2219 0222

Note:

Any person who intends to appear at the hearing of the said
petition must serve on or send by post to the above named,
notice in writing of his intention to do so.  The Notice must
state the name and address of the person, or if a firm or his or
their Solicitor (if any) and must be served or if posted, must
be sent by post in sufficient time to reach the above named not
later than six o'clock in the afternoon of the 8th day of March
2005.


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


BANK PERMATA: Posts IDR620 Billion Net Profit in 2004
-----------------------------------------------------
Bank Permata reported a net profit of IDR620 billion for last
year, up from IDR583 billion in 2003, reports Asia Pulse.

Permata President Agus Martowardojo said the bank's assets went
up from IDR27.4 trillion in 2003 to IDR31 trillion in 2004. With
a capital adequacy ratio of 12%, the bank has enough potential
to expand further in 2005, Mr. Agus added.

According to Mr. Agus, the bank is aiming for a 30% credit
increase this year, and will continue to focus on its credit
targets of small medium business and consumption sectors.

Bank Permata, the Indonesia's second largest credit provider for
small and medium enterprises, extends around 65% of its credits
to such businesses.

CONTACT:

Pt Bank Permata Terbuka
Jalan Jend Sudirman Kav 27
Jakarta, 12920
Indonesia
Phone: +62 21 523 7899
Fax:   +62 21 250 0680


BUMI RESOURCES: To Issue US$600M Bond for Debt Refinancing
----------------------------------------------------------
PT Bumi Resources Tbk (BUMI) is planning to emit bonds worth
US$600 million to repay its debts, reports Indoexchange.
According to news reports, the Company has appointed Merrill
Lynch to manage the bond emission. Fitch Ratings, meanwhile, has
yet to issue the bond's rating.

Bumi President Director Ari Saptari Hudaya explained that the
bond issuance was intended to support their business expansion
plan. However, he did not elaborate since the relevant
regulatory agency has yet to approve the proposal.

Earlier, BUMI and Credit Suisse First Boston (CSFB) signed an
agreement for refinancing its debt worth US$385 million. The
debt, which was incurred by Company subsidiary PT Kaltim Prima
Coal (KPC), is due in 2.5 years and bears a LIBOR + 4% interest
rate.

"Through the agreement, the parties agreed to lower the expenses
related to the interest rate, from around 12% to 6%, as a way to
boost Bumi's cash flow. Up to 2005, Bumi has paid US$40 million,
with half of the amount to be paid in the second quarter, sooner
than the earlier plan. At the same time, Bumi's market cap has
increased to USD1.6 billion, a rise of more than 40% since
January", Mr. Ari said.

CONTACT:

Pt Bumi Resources Terbuka
Midplaza 2, 11th floor
JI. Jend Sundirman, Kav 10-11
Jakarta 10220
Indonesia
Phone: +62 21 574-2050
Fax:   +62 21 573-3421


PERTAMINA: To Build Geothermal Power Plant in Kamojang
------------------------------------------------------
Indonesian oil and gas Company Pertamina opened a tender today
for the construction of a 60-megawatt geothermal power plant in
Kamojang, Asia Pulse reports.

According to PT Pertamina Geothermal General Manager Sukusen
Saemarinda, the fourth unit of Kamojang geothermal plant, with
an estimated cost of US$75 million, is to be completed in 2006.
PT Pertamina Geothermal is a subsidiary of PT Pertamina Tbk.

The Company already has three units of geothermal power plants
in Kamojang. Mr. Sukusen said Pertamina Geopthermal will sell
its power to state-owned electricity Company PLN.

Pertamina Geothermal has prepared six geothermal wells to feed
the fourth unit to be built in Kamojang.

CONTACT:

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


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


DAIKYO INCORPORATED: Shareholders Agree to Slash Capital by 99%
---------------------------------------------------------------
Shareholders in Daikyo Incorporated approved the ailing firm's
proposal to reduce its capital by 99 percent in a bid to revive
dismal operations, Japan Today reports, citing Kyodo News.

The plan is part of a rehabilitation scheme the troubled
condominium builder has worked out to receive assistance from
the state-backed Industrial Revitalization Corporation of Japan
(IRCJ).

Last week, Daikyo announced that it will finally start its
restructuring after the IRCJ appointed major leasing Company
Orix Corporation to sponsor its rehabilitation.

Under the scheme, Daikyo will issue new shares worth JPY23
billion for allotment to Orix in March. The share allotment will
make Orix the biggest shareholder with equity of 43.98 percent.
Orix will also acquire outstanding Daikyo shares worth JPY20
billion in face value from existing shareholders.

In addition, Daikyo is expected to receive JPY133.5 billion in
financial aid from creditors. The aid amount, which will include
JPY103.5 billion in debt waiver and JPY30 billion in debt-for-
equity swaps, is JPY43 billion less than the JPY176.5 billion it
originally requested.

UFJ Holdings Inc., one of Daikyo's three main creditor banks,
will forgive JPY81.5 billion in loans to the condominium
developer and acquire new Daikyo shares worth JPY30 billion on
March 25.

CONTACT:

Daikyo Incorporated
24-13 Sendagaya 4-Chome
Sendagaya No. 21 Daikyo Building
Shibuya-Ku 151-8506, Tokyo 151-8506
Japan
Phone: +81 3 3475 1111
Fax: +81 3 3475 3803
Web site: http://www.daikyo.co.jp/


JAPAN AIRLINES: Boosts Flight Frequency Between Tokyo-Chicago
-------------------------------------------------------------
JAPAN AIRLINES (JAL) has announced increases in the number of
flights on its Tokyo - Chicago and Tokyo - Qingdao routes, in
response to predicted continued expected growth in business
demand on routes between Japan, the USA and China.

From March 27, 2005, the current seven flights per week service
between Chicago and Tokyo will increase by three flights per
week making a total of 10 flights per week. The three new
flights will depart from Narita Airport at 14:40, providing
increased customer choice and convenience as they will make
possible same day connections to Chicago for travelers from
Beijing, Shanghai, Seoul and Taipei. The new schedule is a
response to the steady growth of passenger traffic between China
and the USA. The creation of an afternoon departure from Chicago
will also increase the selection of connections from many cities
across North America.

On July 1st, 2005 on China routes, JAL will increase the present
five weekly flights between Tokyo and Qingdao, China by an
additional two flights per week, creating a daily service.
Because of this increase in flights, JAL `s Japan-China network,
already the largest passenger network between Japan and China,
will operate 234 weekly flights on 28 routes linking 13 cities.
JAL plans to continue to increase its flights in the China
market, where sustained growth is expected, and further expand
the network.

On January 20 2005, the JAL Group announced in its Route & Fleet
plan for fiscal year 2005, increased flights on Russia routes,
together with increased flights, use of larger aircraft, flight
schedule changes on Korea and Taiwan routes. The flight
increases announced today on US routes are in response to strong
business demand, and on China routes, due to sustained growth in
the market.

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


MITSUBISHI MOTORS: Plunges Deeper Into Red
------------------------------------------
Mitsubishi Motors Corporation (MMC) on Tuesday announced its
financial results for the first nine months of the fiscal year
ending March 31, 2005.

MMC's consolidated net sales to the end of the third quarter
(April through December 2004) declined by JPY214 billion to
JPY1,617.9 billion (FY03: JPY1,831.9 billion). By region, net
sales in Europe grew JPY43.9 billion compared to the same period
last year boosted by new products such as the European Colt and
strong sales in Eastern Europe. Net sales in Japan, however,
dropped JPY145.2 billion, as a series of quality problems had a
strong effect on domestic sales. Sales in North America were
also down, declining by JPY104.9 billion as the Company
significantly reduced fleet sales. Maintaining favorable robust
sales in the Middle East, Africa, Latin America and ASEAN offset
for the most part the downturn in sales in Australia and China,
resulting in a slight decline for Asia and other regions of
JPY7.8 billion.

As for retail unit sales by region, the all-new Colt Plus,
launched on October 25, 2004, has had a positive effect on
domestic sales, which have made a steady recovery since
bottoming out in July 2004 when compared to the previous year.
However total units sold in Japan decreased by 103,000 units to
146,000. North American unit sales dropped by 78,000 units on
year to 131,000 units. European unit sales, meanwhile, increased
by 12,000 units to 171,000 led by increased sales in Eastern
Europe. Expanding sales in Latin America, the Middle East and
Africa were not able to cover a decline in sales in Australia
and China causing unit sales in Asia and other regions to slip
by 15,000 units to 503,000.

Operating results for the period decreased by JPY13.3 billion
year on year for an operating loss of JPY99.7 billion as a
nonrecurring JPY41.7 billion charge against financial services
operations in the US was more than offset by declines in unit
sales in Japan and North America. Ordinary profit declined by
JPY47.2 billion, affected by increased costs associated with the
issuance of new shares and the deterioration of equity method
affiliate investments, for an ordinary loss of JPY144.1 billion.
Net profit worsened by JPY125.6 billion after the appropriation
of extraordinary losses including restructuring costs, free
vehicle inspection service fees, the cancelled development of a
new model and asset impairment charges in the U.S. for a total
net loss of JPY228.2 billion.

Furthermore, inline with the Company's recent announcement,
fiscal year 2004 net sales are expected to total JPY2,035
billion with an operating loss of JPY132 billion, an ordinary
loss of JPY197 billion and a net loss of JPY472 billion. This
substantial loss forecasted for fiscal year 2004 includes
additional extraordinary losses from restructuring and asset
impairment charges. However, employees will be devoting
unconditional drive to implement and realize all measures in the
"Mitsubishi Motors Revitalization Plan" which sets out to regain
the trust of society and quickly return MMC to a solid,
sustainable financial standing from fiscal year 2005.

To view the FY2004 Third Quarter Results, click on:
http://bankrupt.com/misc/TCRAP_MITSUBISHIMOTORS020905.pdf

CONTACT:

Mitsubishi Motors Corporation
2-16-4 Konan, Minato-ku
Tokyo, 108-8410, Japan
Phone: +81-3-6719-2111
Fax: +81-3-6719-0014
Web site: http://www.mitsubishi-motors.co.jp


MITSUBISHI MOTORS: Seals Compensation Deal with DaimlerChrysler
---------------------------------------------------------------
The Board of Directors of Mitsubishi Motors Corporation (MMC),
Tokyo, and the Supervisory Board of DaimlerChrysler AG (DCAG),
Stuttgart, have approved on Tuesday a Letter of Intent (LOI)
regarding the compensation for financial damages resulting from
quality issues and recalls at Mitsubishi Fuso Truck and Bus
Corporation (MFTBC).

The LOI consists of the following aspects: a cash payment; the
transfer of the remaining 20% share of MMC in MFTBC to DCAG; the
agreement that MMC will continue to maintain 100% ownership of
NedCar plus additional operative cooperation between MMC and
MFTBC in various other areas.

On the basis of this non-binding LOI a final contractual
agreement is expected in March.


MITSUI BUSSAN: METI OKs Business Restructuring Plan
----------------------------------------------------
Business restructuring plans submitted to METI by Mitsui Bussan
Metals Sales Co., Ltd. (MBH), and Sadoshima Metal Co., Ltd. were
approved on February 2 under the Law on Special Measures for
Industrial Revitalization.

These plans are to enhance productivity through system
integration, as well as to enable MBH unified business
management by means of the allocation of new shares to a third
party from Mitsui & Co., Ltd., and a financial stock exchange to
make Sadoshima Metal Co., Ltd. a wholly-owned subsidiary of MBH.


UFJ HOLDINGS: Unit Vows to Protect Depositors from Fraud
--------------------------------------------------------
UFJ Bank, the core banking unit of embattled UFJ Holdings
Incorporated, unveiled a plan to compensate customers whose
money is withdrawn with counterfeit cash cards without their
knowledge, according to The Japan Times.

The bank is currently finalizing details of the measure, which
might also be applied retroactively for cases in which the bank
can confirm there were no mistakes on the depositor's side.

Starting in March, the bank will replace cash cards that store
data on a magnetic strip with those equipped with a microchip,
which makes the cards harder to forge.

The new cards will be supplied free of charge to existing
customers of its All One new service accounts introduced last
year and new customers who sign up for such accounts between
next month and June.

UFJ Bank made the move following a spate of reports of cash card
frauds and criminals' high-tech ways of stealing card data.

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
=========

   
* South Korean Firms' Equity Investments Drop 52.2% in 2004
-----------------------------------------------------------
The Korea Exchange said Monday that companies remained cautious
in making equity investments last year due to underlying
economic uncertainties, reports Asia Pulse.

According to the national bourse, 130 listed firms made a total
of KRW4.18 trillion in equity investments last year, down 52.2%
from 2003.

Kookmin Bank Co. was the biggest investor last year, putting
KRW588 billion into LG Card Co. in a debt-for-equity swap,
followed by STX Shipbuilding Co., which acquired Pan Ocean
Shipping Co. for KRW365 billion, according to the exchange.

State-owned financial holding Company, Woori Financial Group,
invested KRW298 billion buying equity in LG Investment &
Securities Co.


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


BOUSTEAD HOLDINGS: Lists Additional 730,000 Shares
--------------------------------------------------
Boustead Holdings Berhad's additional 730,000 new ordinary
shares of RM0.50 each issued pursuant to the Employees' Share
Option Scheme were granted listing and quotation effective
Tuesday, Feb. 8, 2005, 9:00 a.m.

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


INTAN UTILITIES: Extension on Public Spread Compliance Granted
--------------------------------------------------------------
Intan Utilities Berhad (Intan) announces that Bursa Securities
Exchange Berhad (Bursa Securities) has on Feb. 3, 2005 granted
an extension of time of about 3 months to March 29, 2005 for the
Company to comply with the public shareholding spread
requirement pursuant to Paragraph 8.15(1) of the Listing
Requirements.

The Public Spread of Intan as at Nov. 22, 2004 comprises 21.98%
of the issued and paid-up share capital held by 755 public
shareholders (a shortfall of 3.02% and 245 public shareholders
from the minimum issued and paid-up share capital requirement to
be held by public shareholders and public shareholding
requirement of 1,000 shareholders under the Bursa Securities
Listing Requirements respectively).

As announced to Bursa Securities on Jan. 10, 2005, Vista Meranti
Sdn Bhd (VM), a substantial shareholder of Intan, has obtained
the approval of the Securities Commission for an extension of
time to March 29, 2005 for VM to take appropriate steps, which
include, but are not limited to arrangement with certain
institutions/individuals, to place out an appropriate quantum of
the Intan shares to meet the Public Spread.

CONTACT:

Intan Utilities Berhad
11th Floor Menara Berjaya,
KL Plaza, 179 Jalan Bukit Bintang,
55100 Kuala Lumpur
Malaysia
Phone: 03-2935 8888
Fax:   03-29358043
Web site: http://www3.jaring.my/intan


LION CORPORATION: Notes Additional Shares Listing
-------------------------------------------------
Lion Corporation Berhad's additional 22,000 new ordinary shares
of RM1.00 each issued pursuant to the Executive Share Option
Scheme will be granted listing and quotation effective Monday,
Feb. 14, 2005, 9:00 a.m.

CONTACT:

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


LION INDUSTRIES: Updates Proposed Unit Disposal
-----------------------------------------------
Lion Industries Corporation Berhad (LICB) refers to the
announcements made on Nov. 9, 2004, Dec. 9, 2004 and Jan. 27,
2005 in relation to the proposed disposal of Company subsidiary
Lion Klang Parade Berhad (LKPB) and announces that the approval
from the security trustee and the holders of the bonds and debts
issued by the Company pursuant to the group wide restructuring
scheme affecting the LICB group of companies for the Proposed
Disposal of LKPB have been obtained on Feb. 3, 2005.

In accordance with the terms of the sale and purchase agreement
dated Nov. 8, 2004 (SPA) in respect of the Proposed Disposal of
LKPB, the SPA shall become unconditional on Feb. 8, 2005
(Unconditional Date) whereupon parties to the SPA would be in
the position to complete the Proposed Disposal of LKPB within
twenty-five (25) calendar days from the Unconditional Date.

LICB will keep the Bursa Malaysia Securities Berhad informed of
further developments of the above matter.

CONTACT:

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


LION INDUSTRIES: Repurchases Additional Shares
----------------------------------------------
Lion Industries Corporation Berhad's additional 79,000 new
ordinary shares of RM1.00 each issued pursuant to the Executive
Share Option Scheme will be granted listing and quotation
effective Monday, Feb. 14, 2005.


MECHMAR CORPORATION: Issues Default Status Update
-------------------------------------------------
Mechmar Corporation (Malaysia) Berhad announces that, in
relation to Practice Note 1- Loans in Default, there is no
change to the arrangement on the repayment schedules to repay
the restructured loans under default.

Attached are the repayment schedules as at Jan. 31, 2005 for
reference:

http://bankrupt.com/misc/tcrap_mechmar020505.xls

CONTACT:

Mechmar Corporation (Malaysia) Berhad
HICOM-Glenmarie Industrial Park
Shah Alam, Selangor Darul Ehsan 40150
Malaysia
Phone: +60 3 5569 2828
Fax:   +60 5569 1316


METROPLEX BERHAD: Winding-Up Hearing Rescheduled
------------------------------------------------
Further to the announcement dated Dec. 28, 2004, Metroplex
Berhad advises that Company subsidiary Legen International
Resorts Limited (LIR) was informed by its solicitors that the
hearing to be held on Feb. 7, 2005 at the High Court of Hong
Kong was moved to a later date to be given by the Court.

CONTACT:

Metroplex Berhad
1st Floor Wisma Equity
150 Jalan Ampang
50450 Kuala Lumpur,
Malaysia
Phone: 03-2618911

This announcement is dated Feb. 7, 2005.


NAUTICALINK BERHAD: Restructuring Scheme to be Implemented Soon
---------------------------------------------------------------
In compliance with Practice Note No. 4/2001, Nauticalink Berhad
is obliged to announce that following the Company's announcement
made on Jan. 24, 2005 on the approvals obtained at Extraordinary
General Meeting and the Court Convened Meeting of Shareholders
and of Scheme Creditors held on Jan. 20, 2005, implementation of
the approved corporate restructuring scheme shall commence upon
obtaining the sanction of the High Court of Malaya pertaining to
the said Court Convened Meetings in accordance with Section 176
(3) of the Companies Act, 1965.

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


OCEAN CAPITAL: Unit Awaits Winding-Up Order
-------------------------------------------
Ocean Capital Berhad refers to the newspaper advertisement in
The Star on Jan. 31, 2005. Ocean Capital Berhad announces that
on Dec. 1, 2004, Company subsidiary Pasaraya Ocean (Klang Utara)
(POKU) was wound up by the High Court of Malaya under the
provisions of the Companies Act, 1965. The Court also orders
that the Official Receiver be appointed as the Liquidator.

To date, POKU has not received the winding-up order nor informed
by the Lawyer of the petitioner, GMV Marketing Sdn. Bhd. on the
subject matter.

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. 4, 2005.


PANTAI HOLDINGS: Repurchases Additional Shares
----------------------------------------------
Pantai Holdings Berhad disclosed to the Bursa Malaysia
Securities Berhad details of its shares buy back on Feb. 7,
2005.

Date of buy back: 07/02/2005

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

Total number of shares purchased (units): 31,000

Minimum price paid for each share purchased (RM):  0.910

Maximum price paid for each share purchased (RM):  0.930

Total consideration paid (RM): 28,581.78

Number of shares purchased retained in treasury (units): 31,000

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

Cumulative net outstanding treasury shares as at to-date
(units): 27,108,800

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

CONTACT:

Pantai Holdings Berhad
3rd Floor, Block B
Pantai Medical Centre
No. 8 Jalan Bukit Pantai
59100 Kuala Lumpur
Phone: 03-22879822
Fax:   03-22873822
Web site: http://www.pantai.com.my/


POS MALAYSIA: Lists Additional Shares
-------------------------------------
Pos Malaysia & Services Holdings Berhad's additional 157,000 new
ordinary shares of RM1.00 each issued pursuant to the Employee
Share Option Scheme were granted listing and quotation effective
Tuesday, Feb. 8, 2005, 9:00 a.m.

CONTACT:

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


POS MALAYSIA: Resells 420,000 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 on Feb. 4, 2005.

Date of transaction: 04/02/2005

Total number of treasury shares sold (units): 420,000

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):  2.710

Total amount received for treasury shares sold (RM):1,129,590.00

Cumulative net outstanding treasury shares as at to-date
(units): 34,018,000

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


SATERAS RESOURCES: Amends Feb.3 Disclosure
------------------------------------------
Further to the announcement made on Feb. 3, 2005, Sateras
Resources (Malaysia) Berhad clarified that the Last paragraph
which reads as "The extended Restraining Order..........on May
12, 2003" be omitted from the announcement.

CONTACT:

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


TALAM CORPORATION: Posts Shares Buy Back Notice
-----------------------------------------------
Talam Corporation Berhad disclosed details of its shares buy
back on Feb. 4, 2005 to the Bursa Malaysia Securities Berhad.

Date of buy back: 04/02/2005

Description of shares purchased: Ordinary

Total number of shares purchased (units): 1,000

Minimum price paid for each share purchased (RM): 1.140

Maximum price paid for each share purchased (RM): 1.140

Total consideration paid (RM): 1,140.00

Number of shares purchased retained in treasury (units): 1,000

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

Cumulative net outstanding treasury shares as at to-date
(units): 1,000

Adjusted issued capital after cancellation
(no. of shares) (units): 0

CONTACT:

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


UMW HOLDINGS: Notes Listing of Additional Shares
------------------------------------------------
UMW Holdings Berhad's additional 4,070,424 new ordinary shares
of RM1.00 each issued as follows:

(i) 2,200 new ordinary shares issued pursuant to the Employees'
Share Option Scheme; and

(ii) 4,068,224 new ordinary shares arising from the Exercise of
4,068,224 warrants 1995/2005;

will be granted listing and quotation effective Monday, Feb. 14,
2005, 9:00 a.m.

CONTACT:

UMW Holdings Berhad
3rd Floor The Corporate
No. 10 Jalan Utas (15/7)
Batu Tiga Industrial Estate
40200 Shah Alam
Selangor, Malaysia
Phone: 03-55191911
Fax:   03-55193890


YCS CORPORATION: Still Assessing Financial Condition
----------------------------------------------------
Further to the monthly announcement made on Jan. 4, 2005 in
relation to Practice Note 4/2001, YCS Corporation Berhad
announces that it is still in the midst of addressing its
financial condition.

Any changes will be announced accordingly.

CONTACT:

YCS Corporation Berhad
Taman Perindustrian UEP Subang Jaya
Subang Jaya, Selangor Darul Ehsan 47600
Malaysia
Phone: +60 3 80242922
Fax: +60 3 80242911


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


ATLAS CONSOLIDATED: Clarifies The Manila Times Article
------------------------------------------------------
This in reference to the news article entitled "Atlas in talks
with 6 firms for copper project revival" published in the
February 7, 2005 issue of The Manila Times (Internet Edition).

The article reported that "Atlas Consolidated Mining and
Development Corporation is holding talks with six foreign mining
firms for possible investments in the local firm's copper
project in Toledo City, Cebu. The project has been shut down for
10 years. Constante P. Bumanlag, Atlas vice president for
operations of its copper project resumed within the year. This
plan, however, largely depends on the outcome of negotiations
with the six foreign firms. The Atlas official said three of
these companies are Chinese, two Korean, and the remaining a
Japanese firm. Negotiations, he said, are on the preliminary
stage, but all six mining companies wants to either buy shares
in Atlas Mining or buy the Company's copper output and import
the same."

Atlas Consolidated Mining and Development Corporation (AT), in
its letter to the Exchange dated February 7, 2005, disclosed
that:

"Thos confirms the veracity of the information contained in the
above subject as made public by our Mr. Constante P. Bumanglag,
Vice President for Operations, during an interview with the
Manila Times."

For your information.

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

Noted by:

(Original Signed)
JURISITA M. QUINTOS
Senior Vice President

CONTACT:

Atlas Consolidated Mining and Development Corporation
7/F, Quad Alpha Centrum
125 Pioneer St., Mandaluyong City
Phone No:  635-2387/4495
Fax No:  633-3759; 634-2312
E-mail Address:  acmdcmla@info.com.ph
Auditor:  SyCip, Gorres, Velayo & Company
Transfer Agent:  Stock Transfer Service, Inc.


COLLEGE ASSURANCE: To Secure US$300-Mln Loan in 40 Days
-------------------------------------------------------
College Assurance Plans Philippines Incorporated (CAP) said it
would obtain the US$300-million loan from a U.S. fund within the
next 40 to 50 days beginning Monday, The Manila Times reports.

CAP's foreign investors are expected to activate the loan
extended by U.S.-based investor First American Investment (FAI),
now that the Securities and Exchange Commission (SEC) has issued
a "no objection" letter on the infusion.

CAP Vice President Bobby Cafe confirmed the pre-need firm had
already sent SEC's no-objection letter to FAI.

If FAI finally pushes ahead with the loan agreement, CAP will be
able to receive a first draw of US$80 million (Php4 billion),
enough to cover the Php756 million it needs to meet its
financial obligations to thousands of plan holders.

The provisions of the loan, which is handled by CAP's chosen
trustee bank Veterans Bank of the Philippines, include a 10-year
timeline for repaying the US$300 million and a four-year grace
period.

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


HERMOSA SAVINGS: Falls Into the Hands of PDIC
---------------------------------------------
The Philippine Deposit Insurance Corporation (PDIC) took over
failed Hermosa Savings & Loan Bank Incorporated after the
Monetary Board of the Bangko Sentral ng Pilipinas ordered its
closure on Thursday last week, according to Business World.

State-run PDIC, the mandatory receiver of closed banks, found
that Hermosa Savings has 9,987 accounts with an estimated
insured deposit liability of Php120.75 million, Php106.7 million
of which is insured.

Since the closed bank's staff is no longer authorized to
transact business on behalf of the bank, PDIC advised clients
who have outstanding loans in the bank to coordinate with the
designated deputy receiver regarding settlement of obligations.

The PDIC assured all depositors in Hermosa Savings that its
receivership and examination team is stepping up efforts to
validate the bank's accounts in order to hasten payment of
insured deposits. The duration of the review, however, will
depend on the state and condition of the bank's records.

Hermosa Savings maintains 14 branches in Bataan, Pampanga and
Makati City.

CONTACT:

Hermosa Savings & Loan Bank Incorporated
A. Nuguid St., Hermosa, Bataan
Phone: (047) 491-1547 to 49


MANILA ELECTRIC: Works Out Transition Supply Deal with Napocor
--------------------------------------------------------------
Manila Electric Company (Meralco) and the National Power
Corporation (Napocor) are negotiating for a transition supply
contract (TSC) and are likely to ink an agreement very soon,
according to The Philippine Star.

The two companies are working to seal the TSC after failing to
meet the Jan. 31 deadline set by the Energy Regulatory
Commission (ERC) for the final contract details. The deal is
expected to replace Meralco's power supply contract with the
government, which expired in December.

Energy Regulatory Commission (ERC) Chairman Rodolfo Albano Jr.
said the ERC has ordered the two power firms to finalize their
TSC on or before Jan. 31 this year and sign the TSC before
working on a bilateral agreement.

Under Republic Act 9136 or the Electric Power Industry Reform
Act (EPIRA), Napocor was required to submit a TSC, which would
allow the new buyers of Napocor's generation assets to have a
ready market once the power firm is privatized.

Energy Secretary Vincent S. Perez said he expects Meralco to
shortly sign the TSC with Napocor as provided for in Sec. 67 of
the EPIRA.

The TSC will assure a minimum market for Napocor's generation
assets and will enhance the value of generation assets intended
for sale and further operation.

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


MAYNILAD WATER: Court Orders Revision of Rehab Plan
---------------------------------------------------
Maynilad Water Services Incorporated received an order from the
court to submit an amended revival program that would include
the recommendations of court-appointed receiver Rosario
Bernaldo, says The Philippine Daily Inquirer.

Quezon City Trial Court Judge Reynaldo Daway asked Maynilad's
legal counsels to make the necessary revisions in Maynilad's
rehabilitation plan and incorporate the water concessionaire's
latest debt settlement deals with creditors and new tariffs
approved by the Metropolitan Waterworks and Sewerage System
(MWSS).

Maynilad was required to file the modified rehabilitation plan
within 20 days from the issuance of the order on Jan. 31, 2005.

As suggested by Ms. Bernaldo, the MWSS will "officially but
temporarily" take over the water concession in the west zone of
Metro Manila from Maynilad, a unit of the Lopez group and its
French partner Suez Lyonnais des Eaux.

CONTACT:

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


RB VINZONS: PDIC Pays Php4.89 Mln to Depositors
-----------------------------------------------
In a recent development, the Philippine Deposit Insurance
Corporation (PDIC) reported the settlement of Php4.89 million in
insurance claims from depositors of the closed Rural Bank of
Vinzons (Camarines Norte), Inc. The payout started January 11,
only one working day after PDIC took over the bank on January 7.

Five days from start of payout, PDIC has serviced 378 accounts
or about 34 percent of the total number of insured deposit
accounts of 1,098 and about 82% of the total estimated insured
amount of deposit liabilities of Php5.97 million.

A single unit bank located in Camarines Norte, RB Vinzons was
ordered closed by the Monetary Board (MB) on January 6. RB
Vinzons is the first bank closure this year and the fourth to
benefit from the new maximum deposit insurance cover of
Php250,000 effective August last year, after First Savings Bank,
Rural Bank of Culasi (Antique) and Ever Development Bank
(Zambales).

All insurance claims against the closed bank can be filed
personally or by sending through mail the completely
accomplished Claims Form and documentation requirements at the
PDIC Ayala office located at the SSS Building, Ayala Avenue
corner V.A. Rufino St., Makati City. Depositors of RB Vinzons
may file their insurance claims up to January 6, 2007.  

CONTACT:

Rural Bank of Vinzons (Camarines Norte), Inc.
Vinzons, Camarines Norte
Phone: (054) 446-6262 / 571-2323


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


BINTAN LAGOON: Court to Hear Winding Up Petition February 18
------------------------------------------------------------
Notice is hereby given that a Petition for the Winding Up of
Bintan Lagoon Resort Ltd (Formerly known as Safe Bintan Resort
Ltd) by the High Court was, on January 27, 2005, presented by
John Hancock Life Assurance Company Ltd (RC No. 195400080W) and
Manulife (Singapore) Pte Ltd (RC No. 198002116D).

Both companies are incorporated in the Republic of Singapore and
having its registered office at 491B River Valley Road, #07-00
Valley Point, Singapore 248373, both Creditors.

The Petition is directed to be heard before the Court sitting at
High Court, Singapore at 10:00 a.m. in the forenoon, on Friday,
February 18, 2005.

Any creditor or contributory of the Company desiring to support
or oppose the making of an order on the 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 Company requiring the copy of the Petition
by the undersigned on payment of the regulated charge for the
same.

The Petitioners' registered office is 491B River Valley Road,
#07-00 Valley Point, Singapore 248373.

The Petitioners' Solicitors are TSMP Law Corporation of 6,
Battery Road #33-01, Singapore 049909.

Dated this 1st day of February 2005.

TSMP Law Corporation
Solicitors for the Petitioners

Note:

Any person who intends to appear at the hearing of the Petition
must serve on or send by post to the above named TSMP Law
Corporation, 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 above named not later than twelve o'clock noon
on February 17, 2005.


DRESDNER KLEINWORT: Gives Creditors Until March 4 to Prove Debt
---------------------------------------------------------------
Notice is hereby given that the creditors of Dresdner Kleinwort
Wasserstein (South East Asia) Ltd, 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.

The creditors are also required to send in 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 are,
by their solicitors or personally, to come in and prove their
debts or claims at such time and place as shall be specified in
such notice, or in default thereof they will be excluded from
the benefit of any distribution made before such debts are
proved.

Dated this 4th day of February 2005.

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


ENVIRONMENTAL ENGINEERING: Issues Notice to Declare Dividend
------------------------------------------------------------
Environmental Engineering Services (Asia) Environmental
Engineering Services (Asia) Pte Ltd. issued a notice in the
Government Gazette Electronic Edition of its intention to
declare a first and final dividend with the following details:

Address of Registered Office: Formerly of 8 Jalan Kilang Timor
#01-02 Kew Alram House Singapore 159305

Court: Supreme Court, Singapore

Number of Matter: Companies Winding Up No. 600038 of 2001

Amount Per Centum: 7.1%

First and Final or otherwise: First & Final Dividend

When Payable: January 26, 2005

Where Payable:

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

Dated: 4th February 2005

Kamala Ponnampalam
Assistant Official Receiver


SHANGHAI TRAVEL: Creditors Should Prove Debt by March 7
-------------------------------------------------------
Notice is hereby given that the Creditors of Shanghai Travel
(S'pore) Pte Ltd, which is being wound up voluntarily, are
required on March 7, 2005 to send in their names and addresses
and the 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
Company, and, if so required by notice in writing from the said
Liquidator, is by their solicitors, or personally, to come in
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 7th day of February 2005.

Chia Soo Hien
Liquidator.
c/o BDO Raffles
5 Shenton Way
#07-01 UIC Building
Singapore 068808


SINO PEAK: Proofs of Claims Due February 23
-------------------------------------------
Sino Peak Finance Limited issued a notice in the Government
Gazette Electronic Edition of its intention to declare
preferential dividend with the following details.

Name of Liquidator: The Official Receiver

Registered Office and Liquidator's Address:

10th Floor, Queensway Government
Offices,66 Queensway, Hong Kong.

Last Day for Receiving Proofs: 23rd February 2005

Dated this 8th day of February 2005
E T O'Connell
Official Receiver & Liquidator


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


DATAMAT: Details Increase in Registered Capital
-----------------------------------------------
Datamat Public Company Limited advised the Stock Exchange of
Thailand (SET) that the Company's Board of Directors' Meeting
No. 6/2004 resolves to approve the capital increase share
purchase in Corporate Vision Asia Company Limited (Corporate
Vision Asia), the developer of the software named Trade Vizion
providing information and analysis on stock market and exchange
market.

Corporate Vision Asia will increase its registered capital from
THB4,000,000 to THB25,000,000 by issuing 210,000 shares at
THB100 par.

After the registered capital increase, the Company will purchase
150,000 newly issued shares, or 60% of shares in Corporate
Vision Asia in the price of THB15,000,000, detail as per the
reference letters.

The Company would like to provide additional information on the
progress of the mentioned matter, that on January 21, 2005, the
Company has entered into the Shareholders Agreement with
Corporate Vision Asia.

Presently, Corporate Vision Asia is in the process of
registering the registered capital increase to the department of
business development to THB25,000,000 and allot 150,000 newly
issued shares to the Company.

However, the Company will set-off the THB15,000,000 of the
Company's investment and debt of Corporate Vision Asia amounting
of THB9,097,000, and Corporate Vision Asia will utilize such
investment as the working capital.

Accordingly, Corporate Vision Asia is a developer of the Real
Time financial analysis software named Trade Vizion which is
currently offered to the Securities Brokerage and fund
Management Company in Thailand, and also offered over the
Internet to private investors worldwide.

In addition, Corporate Vision Asia also runs Thailand's most
attended quantitative stock analysis training course, with over
4,000 retail investors and brokerage staffs attending the course
in 2004.

The reason for the Company's investment in Corporate Vision Asia
is not only that Trade Vizion has strong sales and growth in
Thailand, but it has also been developed with other markets,
especially the US Stock Market, that can compete with the
world's best stock charting and analysis programs with Trade
Vizion.

This announcement is issued for your information and for
dissemination to the investors.

Yours faithfully,
Kusol Sangkananta
Kusol Sangkananta
Director and Secretary to the Board

CONTACT:

Datamat Public Company Limited   
Asoke Towers, Floor 17, 18 And 19,
219 Soi Asoke (Sukhumvit 21),
Sukhumvit Road, Klongtoey Nua,
Watthana Bangkok    
Telephone: 0-2310-5111   
Fax: 0-2319-8208   
Web site: www.datamat.co.th
  

SRITHAI FOOD: Issues Progress Report of Business Reorganization
---------------------------------------------------------------
Srithai Food & Beverage Public Company Limited informed the
Stock Exchange of Thailand (SET) that since the court had
ordered reorganization of the Company and appointed Srithai Food
& Beverage Public Company Limited as the Planner on 3 September
2004, the Company announces that it is still under the process
of jointly preparing the plan with PSM Business Advisory Co.
Ltd. (Financial Advisor) of which this case shall have been
considered according to the following schedules:

(1) Submission of plan to the creditors: February 18, 2005

(2) Adjustment of the plan: March 4, 2005

(3) Submission of plan to the Trustee by the planner: March 26,
2005

For your acknowledgement

Yours sincerely,
Mr.Anan Jantranukul
Executive Director

CONTACT:

Srithai Food & Beverage Public Company Limited   
69 Moo 4 Watkingkaew Road,
Rajadhewa, Bang Plee, Samut Prakarn    
Telephone: 0-2312-4281-4, 0-2312-4289-300   
Fax: 0-2312-4285   
Website: www.srithaifood.thailand.com


TANAYONG: Submits Business Reorganization Progress Report
---------------------------------------------------------
Pursuant to the Central Bankruptcy Court's orders on December
30, 2003 for the business reorganization of Tanayong Public
Company Limited and on March 15, 2004 to appoint Tanayong Public
Company Limited as the Planner, the creditors' meeting has
passed a resolution to approve the Plan on December 21, 2004.

Thus, the Court had set February 7, 2005 as a date for
considering the Plan.  However, before the consideration of the
Plan, there were 4 creditors who raised objections.  After
consideration of the objections, the Court had asked the Planner
to revise the Plan. The Court set April 19, 2005 as the date for
plan consideration.
  
Please be informed accordingly.
  
Yours sincerely,
Mr. Sudha Liptawat/Mr.Rangsin Kritalug
By Tanayong Public Company Limited
On behalf of the Planner of Tanayong Public Company Limited
  
CONTACT:

Tanayong Public Company Limited   
100-100/1 Moo 4, Km.14,Bangna-Trat Road,
Bang Plee, Samut Prakarn    
Telephone: 0-2273-8511-15   
Fax: 0-2273-8516-17   
Web site: www.tanayong.co.th



                            *********


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

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

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